Owning a supercar takes a lot more green than most people realize. Beyond the initial six to seven figure number, you’ve also got to consider your down payment, financing, insurance, and maintenance costs. Let’s take a look at how much it really costs to own a Bugatti Veyron.
Bugatti Veyron 16.4 ($1.4 mil)
Veyron ownership begins with a $360,000 down payment that is wired to the Bugatti bank in France. This is a formality to put a reserve on the car. Once the transfer has been complete, a French security firm begins a thorough background check. This is to make sure the buyer is good for the remaining $1.04 million dollars, which can be spread out for the next five years at 10% APR financing. Once the check is completed successfully, the buyer has to pay the shipping charges for the car to be crated from France, which averages around $40,000.
To keep yourself and Bugatti protected, insurance will be a necessity at around $2,500 a month for the 16.4 model. When all is said and done, you will pay about $1.8 million, which is around $400,000 less than the upper echelon Super Sport. However, let’s say you’ve decided to lease for the time being. For the first payment, which will be due a couple weeks after you’ve taken delivery, you would owe around $24,000. At this price, the owner is only given a yearly allowance of 2,500 miles. If you go over this, penalties add up quickly.
Bugatti Veyron Super Sport ($2.2 mil)
However, we might as well go all the way to the top with the Bugatti Veyron Super Sport, starting around $2.2 million. The buyer still has to come up with a $360,000 down payment, endure a rigorous back ground check, and shell out the delivery costs from France. With taxes and all the other hidden fees out of the way, you could be looking at $2.6 mil just to get it out the door. But who has that kind of money lying around, so you decide to finance it.
A five year loan with a 10% APR will cost you around $42,000 a month, practically twice the price of admission for the 16.4. On top of this, expect around $20,000 for routine maintenance, $7000 for gas, and $10,000 for auto detailing every year. Every 10,000 miles Bugatti recommends the wheels and tires should be replaced at $50,000 a set. A climate controlled, high security garage is also recommended, bringing maintenance costs up to as much as $300,000 a year.
With insurance premiums over $3,000 for the Super Sport, your final price with everything said and done would be a minimum of $3.3 million. And that’s just for the first five years.
Better shake that piggy bank just a little bit harder!
