Exotic cars are high performance vehicles that are sought after by many people. These cars are often extremely expensive which also makes them a rare sight on public roads. One aspect of most exotic cars is that they tend to have low mileage on them.
8 reasons exotic cars have low mileage are:
- Exotic cars lose value with more mileage
- Exotic cars are not natural daily drivers
- Exotic cars could have insurance conditions
- Some owners only use their cars for special occasions
- Some exotic cars are not owned to be driven
- Exotic cars have poor gas mileage
- Driving exotic cars can be inconvenient
- Expensive maintenance and average reliability
Exotic cars are precious vehicles and therefore need to be taken care of more than your average car. Most exotic car owners are reluctant to put a lot of miles on their vehicles, but there are more reasons than that as to why exotic cars tend to have low mileage, and we’ll discuss them below.
What Is Considered An Exotic Car?
An exotic car, also known as a supercar, is a rare vehicle which has a high price tag. These cars are normally sought after by the very wealthy.
Exotic cars are mostly built for performance and are often revered for being great looking cars. The expenses and running costs of these cars make them a rare sight on public roads. Some famous exotic car manufacturers include Ferrari, Porsche, McLaren, and Lamborghini. Some other manufacturers known more for their production cars, such as Audi and Mercedes, also produce exotic cars.
Due to the costs involved in producing these vehicles, they are normally manufactured in low quantities. These cars are often also built by hand and specifically designed to the customer’s needs and preferences.
What Is The Purpose Of Buying An Exotic Car?
The purpose of owning an exotic car varies and depends on the owner. Some people are simply passionate about cars and enjoy building a collection of these rare vehicles. Some people consider these cars to be art and don’t drive them at all.
Others buy the cars for their performance aspects. These cars are designed to be extremely fast and are built for track use. Many supercar owners enjoy taking their vehicles out to track days. With supercars being small, two door vehicles with limited space, these cars are not bought for their practicality. Some people also buy these vehicles just to show off their wealth.
8 Reasons Exotic Cars Have Low Mileage
1. Exotic Cars Lose Value With More Mileage
All cars lose value the older they get. More mileage means that cars depreciate more as well. This is no different for exotic cars. In fact, depreciation is exaggerated in supercars. The depreciation curve on supercars is extremely steep up to around 50,000 miles.
After you have 50,000 miles on the clock the curve tends to level out, and there isn’t a huge difference in price tags between cars that have 50,000 miles and 100,000 miles on the clock, when compared to the value lost over the first 10,000 miles. There are a number of other factors that also affect how quickly a car’s value depreciates.
The first is the manufacturer and the model of the car. Limited edition vehicles and supercars that are extremely rare depreciate the slowest. However, these also cost much more than other supercars.
A car with optional extras will depreciate slower than one without optional extras. The extras can become extremely expensive though, especially on supercars. It’s important to consider which options will give your car the best value over time.
Colors are also important in the resale of any car. Neutral colors such as white and black are often best. However, supercars are somewhat exempt from this rule. This is due to the fact that supercars are known to be flashy, and having a limited-edition neon green Lamborghini or a red Ferrari could add extra value to the vehicle.
When it comes to supercars, maintenance is crucially important. Having the full-service history of the vehicle from dealerships on record will help the car to keep its value over time.
2. Exotic Cars Are Not Natural Daily Drivers
Supercars are not commonly used on a day-to-day basis. Of course, this is not true for everyone, as some owners use their supercars every single day. For most though, driving a supercar is something special that they tend to reserve for weekends or sunset cruises.
This means that most supercars pick up very little mileage. Most owners will drive 5000 miles or less per year. Some of course enjoy driving their supercars and can put 10,000 miles or more per year on their cars, and it really depends on the owner.
Many supercar owners also own a second, more ‘average’ car which they use as their daily driver. This will be a more practical car that is easier to drive, such as a hatchback or an SUV. The daily driver would be used for normal trips such as shopping, and the exotic car only for pleasure drives.
3. Exotic Cars Could Have Insurance Conditions
Many insurance companies have a lot of conditions attached to insuring an exotic car. One of these conditions is keeping the mileage down. Insurance will only cover you for an agreed upon number of miles per insurance term.
The specific mileage amount varies between different insurance companies. Adding cover for extra mileage on your supercar comes at a cost. From an insurer’s point of view, limiting the mileage on the vehicle reduces the risk of it being damaged or even crashed, keeping their risk exposure low.
4. Some Owners Only Use Their Cars For Special Occasions
Many people buy supercars which are only used on special occasions. These cars often have a special meaning to the owner. Perhaps they have a loyalty to the brand, or they have sentimental value attached to the car itself. Reserving use of the car for special occasions keeps the mileage to a minimum and also preserves the value of the car.
In some cases, these cars are reserved only for use on track days. Using the cars at track days means they only pick up miles over weekends, usually once or twice a month at most.
5. Some Exotic Cars Are Not Owned To Be Driven
Many people who buy exotic cars don’t intend to drive them much or at all. For some people the car is simply used as art. Some people have them parked in a glass case at their house, or they add them to their collection in the garage.
These types of cars don’t pick up any mileage during their time standing around in the garage. However, at the same time, these cars are built to be driven, and standing around is not doing the high-performance engine any favors. This can lead to a value decrease if there ends up being problems with the internals due to it never being started.
6. Exotic Cars Have Poor Gas Mileage
Exotic cars tend to be built purely for performance. This means that they tend to have poor gas mileage. As such, it’s not always worth driving them around too much for the gas costs alone. The running costs of these cars means that its best to keep their mileage down.
The Lamborghini Aventador S get 12 miles to the gallon and the Ferrari 812 Superfast gets just 13 for example. Some supercars are slightly better than other high-end performance manufacturers. The Audi R8 Spyder gets around 17 mpg, and the Porsche 911 Turbo gets an astonishing 19 mpg. This is one of the reasons these cars are a more common sight than Lamborghinis and Ferraris.
7. Driving Exotic Cars Can Be Inconvenient
Exotic cars are small, light and have low ground clearance. This makes them rather impractical in many everyday situations.
No Room For Passengers
The small body of exotic cars means that most of them only really have enough room for a driver and a passenger. This makes it difficult to drive friends and family around in your top end supercar.
Limited Storage Space
Exotic cars also have small trunks which means there is very limited storage room. If you’re making a trip to go shopping or leaving for the airport, it’s best to leave the supercar at home and take something more practical.
Low Ground Clearance
In most cases, exotic cars don’t have a ground clearance much higher than 4 inches. This makes it difficult to drive these cars on public roads. Most supercars struggle to get over speed bumps and curbs without scraping the bottom of the front or rear fenders.
Due to this impracticality most supercar owners have a more practical daily driver that they use on a regular basis. This keeps the exotic car’s mileage lower.
8. Expensive Maintenance And Average Reliability
Due to their high-performance capabilities, exotic cars tend to be expensive to maintain. In general, the replacement parts are high-end performance parts which cost more than standard, mass market car parts. Parts which would normally cost an average amount are usually doubled or sometimes tripled in price due to the fact that they are designed for high performance.
Exotic cars also often suffer from reliability issues. The high-performance parts are designed to work hard, but they’re not always the most durable. Making parts lighter and more powerful can also make them more delicate. With common breakdowns and expensive repairs, it’s no wonder supercar owners try to keep their mileage to a minimum, to limit the overall wear of the car.
The reasons exotic cars tend to have low mileage vary from insurance policy limits to the overall expenses and risks involved in driving these expensive high-performance vehicles on a daily basis. The main reason these cars have low mileage is to keep the value of the car as high as possible to allow the owner to make some of their money back when they sell in the future.