How To Drive An Exotic Car While Making Money At The Same Time

Is It Really This Easy To Drive Around In A Ferrari?

Driving an exotic car is one of those status symbols that people dream about.

There’s something about rolling down the street in a high end luxury car that turns heads and makes you feel like a total baller. But for most people, the price tag on these cars is out of reach…or so they think.

What if we told you there’s a way to drive these cars without breaking the bank, and better yet, make money while doing it?

Yep, it’s possible, and I’m about to break down how you can hack the luxury car leasing game, live the high life, and even turn a profit while doing so.

Let’s dive into the world of exotic car leasing and figure out how you can make it work in your favor.

Why Leasing is the Key

First things first, if you want to drive luxury cars without paying that insane sticker price, leasing is the way to go.

Instead of buying a car outright (which can cost you hundreds of thousands of dollars upfront), leasing allows you to pay a fraction of that cost to “borrow” the car for a few years.

Here’s why leasing works so well for exotic cars:

1. Lower Monthly Payments: Leasing generally has much lower monthly payments compared to financing a purchase. Since you're only paying for the depreciation of the car during the lease term, you avoid the high cost of ownership.
   

2. Access to Multiple Cars: Leasing gives you the flexibility to switch cars every few years, so you can always stay up to date with the latest models. Drive a Lamborghini for two years, then switch to a Ferrari, you get the idea.
   

3. Avoid Depreciation: When you buy a car, especially a luxury car, its value drops the minute you drive it off the lot. With leasing, the dealership eats that depreciation cost. You’re not stuck with a car that’s worth half of what you paid for it five years later.
   

4. Tax Benefits: In some cases, leasing a car can give you tax deductions, especially if you’re using the car for business purposes. Talk to your accountant about how you can maximize this benefit.

Now, if you have bad credit or low income, securing a lease may obviously be a bit more challenging. But there are 2 popular ways to get around it and get yourself in that luxury car.

1. Find a Co-Signer
   A co-signer with good credit can dramatically increase your chances of getting approved for a lease. The co-signer essentially agrees to take on the responsibility of the lease if you default on payments, which lowers the risk for the leasing company.

If you have a family member, business partner, or close friend with strong credit, consider asking them to co-sign for you. Just make sure you’re confident in your ability to make payments because missing payments can damage both your credit and your co-signer’s credit.

2. Consider a Lease Transfer
   One underrated hack is taking over someone else’s lease through a lease transfer. Platforms like Swapalease and LeaseTrader allow you to take over someone’s existing luxury car lease. People often look to get out of leases early, and they’re willing to hand over the lease without a credit check or large down payment.

The Strategy to Make Money While Driving an Exotic

Now, leasing an exotic car already sounds like a win, but you’ll want to use that car to make money that will not only cover your lease payments but will also make you profit.

Here’s the strategy:

1. Leverage Turo or Hire a Driver
   Platforms like Turo allow you to rent out your car when you’re not using it.
   
   Let’s say you lease a Ferrari for $2,000 a month. You can rent it out on Turo for $500 a day (or more, depending on the model and location).
   
   If you rent it out for just five days a month, you’ve already covered your lease payment.
   
   So if you rent it just 10 days a month, you cover your lease payment and take home $3,000 in profit each month.
   
   AND you get to drive around in the car as much as you want too.

Not into strangers driving your car? No problem. You can hire a professional driver and turn your exotic car into a luxury chauffeur service.

High-end clients will pay a premium for transportation in style, and you’re making money while your car works for you.

1. Corporate and Special Events
   Another way to monetize your luxury car is by offering it for corporate events, weddings, and photoshoots.
   
   Companies often look for high end cars to display at events or use in marketing campaigns. Photographers love to use exotic cars for weddings and other upscale photoshoots.
   
   You can charge a premium for these kinds of gigs and easily turn a profit while showing off your ride.
   

2. Brand Partnerships and Sponsorships
   If you’re active on social media, especially platforms like Instagram or YouTube, you can partner with luxury brands that align with the image of your exotic car.
   
   For example, you could create content that showcases high end watches, clothing, or experiences, using your luxury car as a backdrop.
   
   Brands love to partner with influencers who can provide that aspirational lifestyle vibe, and your car becomes part of that package. This can lead to brand sponsorships, product deals, and additional income streams.
   

3. Rent It for TV Shows and Films
   Production companies are always looking for exotic cars to use in movies, TV shows, and commercials.
   
   You can rent out your car to be featured in a production, and the rental fees can be pretty substantial. This is especially true if your car is in pristine condition or a rare model that’s hard to come by.

The Risks and How to Minimize Them

As with any business venture, there are risks involved when leasing a luxury car to make money. While the upside can be huge, you need to be aware of potential pitfalls and how to avoid them.

The obvious being, what if someone totals the car? Or what if someone goes 200 mph and breaks every bone in their body in an accident?

1. Insurance Costs
   Exotic cars come with exotic insurance prices. You’ll need a solid insurance policy that covers both personal use and rentals. The last thing you want is for your car to be involved in an accident without proper coverage, which could leave you with massive out-of-pocket costs.

   
   Your insurance cost will be high, maybe around $300-$600 per month, but it’s a lot better than having to pay off the whole car in damages.
   

   Look for specialized luxury car insurance providers that offer coverage for rental or business use. Some platforms, like Turo, offer their own insurance packages, which can provide additional protection when you’re renting out the
   car.
   

2. Lease Restrictions
   When leasing a luxury car, you need to make sure your lease agreement doesn’t prohibit renting the car out or using it for commercial purposes.
   
   Some leases have strict terms about how the car can be used, so double-check the fine print before you sign.
   

   If you’re unsure, work with a dealership or leasing company that understands your intentions and can customize a lease agreement that allows for renting or business use.
   

3. Market Demand
   Not all locations are ideal for renting out luxury cars. If you live in a smaller city or rural area, the demand for high-end cars may be lower, which means you might struggle to cover the cost of the lease.
   
   Before committing to a lease, research the market in your area to ensure there’s enough demand to make your plan work.
   

   If you find that local demand is low, consider expanding your reach by offering delivery services to nearby cities or targeting high-traffic tourist destinations where luxury car rentals are in demand.

The BMM Takeaway

Driving exotic cars doesn’t have to be a dream reserved for the ultra rich. With the right strategy, you can enjoy the thrill of a luxury car while turning it into a profitable venture.

By leveraging platforms like Turo, offering your car for events and photoshoots, and staying on top of maintenance and market demand, you can offset the cost of leasing and even make money while doing it.

Just remember: the key is to think of the car as an asset, not a liability.

Approach it like a business, be smart about how you manage it, and you’ll be living the luxury car lifestyle without draining your bank account.