Rental Business of Luxury Cars has been thriving for the past few years and seeing the rising trend that allows people to experience driving a luxury sports car at a cheap price, the rental companies are not going out of business anytime soon. However, the biggest question is the cost and expenses of renting a luxury car which is otherwise too expensive for people to buy. In this article, we will try to estimate exactly how much it costs to rent a Ferrari in Italy and which factors determines the cost.
As a rule of the thumb, rental prices of all types of cars including luxury cars depends on their market value. Usually, the daily rent for a car is 1% of the market value. Keep in mind that the market value of cars is different than its purchase price and since most rental cars are not new and have been used for some time, their rental rates is estimated to be lower than the purchase price. For example, the market value of Ferrari is around $20,000 and going by the 1% rule, the rent of Ferrari will be $2,000 per day. Keeping that aside, here are some factors that also contribute to the rental rates of Ferrari in Italy.
Mileage of the Car
The mileage of the car plays an important role in determining the rent. If the car has been driven more than a few thousand miles and has a high mileage, its rent is likely going to be higher as compared to the car which has not been driven much. Moreover, the number of miles you intend to drive the car are also calculated in the final cost of rent.
The cars might be the same but their market models can differ. If the Ferrari you are renting is a special model or limited edition, you are likely to be charged more for it. Also, due to the unique features, the market value of the limited model of Ferrari may increases, especially if the model is no longer in production.
The seasons and time of the rental are also key factor that may increases or decrease the rental cost. For example, if you are vacationing in Italy around Christmas or other festivals, the rates might be high since there is more demand for the luxury cars. On the other hand, the rental cost can also be low if there is more availability of the cars.