Understanding the Exotic Rental Market

As founder and president of Gotham Dream Cars in New York City, Noah Lehmann-Haupt is surrounded by a fleet of cars befitting British royalty or a Saudi oil baron. And when the mood strikes him, he can take a Ferrari Murcielago, Continental GT or the relatively mundane Porsche 911 twin-turbo out for a Sunday spin.

It is one of the perks of owning an exotic car rental company. Yet those moments are tempered with ones like these:

On the day after Christmas, 2004, Lehmann-Haupt was lying in bed when he got a call from the guy renting his Lamborghini Gallardo. Lehmann-Haupt soon found himself staring at the back of a wrecker, with his $175,000 baby “crumpled into a little ball.” No one was hurt; knock on wood. However, “that started a six-month process of waking up every day wondering if I’d get my $175,000 back,” he says. “I had to fight him and his insurance company. They wanted to nullify the contract.”

Though Lehmann-Haupt eventually did get his money back, the story defines the nature of exotic car rentals: It takes plenty of working capital, extra attention to customer service and a healthy appetite for risk.

The Market for Exotics
Being rich is not necessarily the rule when it comes to wanting to tool around in an exotic vehicle for a couple of days. Yes, wealthy clients who own expensive sport cars want to drive a similar type of vehicle when traveling. But the majority of customers who rent specialty cars are those who can’t afford to buy one.

Although Gotham Dream Cars caters to a range of clients, Lehmann-Haupt says many are wives and girlfriends who want to get their husbands and boyfriends a unique birthday or anniversary present.

Another typical client is the 30-something, male small business owner who doesn’t have enough disposable income to purchase an exotic car, he says.

John Kiland, owner of Rent-A-Vette in Las Vegas and San Diego, says his Las Vegas location attracts mostly tourists. At San Diego’s Rent-A-Vette, local clients rent the cars mostly for weekend getaways.

CONTINUED:  Understanding the Exotic Rental Market
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Comments

  1. Frank Rawlings [ September 8, 2013 @ 12:27PM ]

    I just started a limosine service out in Washington DC. I recently purchase a 2005 Black Bentley GT Coupe to add to my collection of vehicles..( I have two black Cadillac Escalade ESV)! I was looking to get more information on the luxury car biz!

  2. Boomer [ November 19, 2013 @ 09:45AM ]

    I was in google last month trying to find exotic car rentals, and the same company kept coming up. I decided to avoid there over advertising, and went with a more local company. UltimateExotics.ca, which is right off of the service road near Hamilton, was a great experience I would recommend to anyone.

  3. Ricky [ December 21, 2013 @ 11:23AM ]

    Seeking partner or investor for my startup luxury car rental business in Palm Springs, CA.

  4. Steve [ December 30, 2013 @ 07:54PM ]

    I was in Miami and I rented a Lamborghini from MiamiExoticCarRentals.me and the entire experience was flawless. These guys are on top of their game.

  5. Ricky W [ January 11, 2014 @ 10:15PM ]

    Seeking partner/investor to purchase a Lamborghini and Ferrari for Celebrity Car Rental in Southern California. I need someone who understands risk and high rewards in this industry. Contact info: [email protected] or [email protected]

  6. Chris [ January 26, 2014 @ 02:04PM ]

    The right glove treatment, unbeatable rates on exotic car rentals Miami can be found at supercarsofmiami.com. Customer service is beyond reproach.

  7. Victor [ February 18, 2014 @ 07:33PM ]

    Most of those comments are just advertising. Good article though.

  8. Dan [ July 9, 2014 @ 11:54AM ]

    Can someone suggest an insurance company that does cover Luxury exotic cars

  9. Parker [ October 1, 2014 @ 06:40AM ]

    When I bought mine Cadillac I went to http://www.fortlauderdalecollection.com/
    they were friendly and they hooked me up with all the answers to every question I had lol

  10. Anthony [ October 2, 2014 @ 05:16PM ]

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  11. Teffick [ December 12, 2014 @ 05:20PM ]

    I always wanted to know how to start an exotic car rental business. I have the capital and perfect credit and all . But never knew the proper channels and steps on how to start one til now. But i know there is more to it then just words. It takes a lot of dedication , commitment , knowledge and time. But i guess i have to start from somewhere. So thank you and if there is any more advice you can spread to me and everyone who's looking to do the same. It will be very appreciated. Thank you again.

  12. lamont brooks [ December 20, 2014 @ 11:08AM ]

    Teffick, get in touch with me please. We're on the same path.I'm in Atlanta Ga. Ive already started...[email protected]

  13. Vijay Singh [ January 18, 2015 @ 10:02PM ]

    I can relate to this article in many ways, I wish to start an exotic car rental busines myself. My location is perfect as I live in a growing city that currently has no big rental car businesses. Its not just an idea for me; its a dream that im putting a lot of thought into at the moment. If anyone has any advice about ANYTHING please contact me at: [email protected]

  14. Ricky W [ February 28, 2015 @ 06:15PM ]

    Vijay Singh I contacted you last year about investment you are not serious just talk.

  15. Mike C [ March 11, 2015 @ 01:52AM ]

    I really enjoyed reading this article, it educated me about the risks it takes to start an exotic rental company. I live in a none tourist area but a lot of wealthy people from overseas who own businesses. I think production sport cars (eg: BMW M cars, Mercedes AMG cars, and Audi RS Cars), and sport winter trucks (eg: range rovers, Audi, Porsche, etc..) might be a successful rental car business but I would like an experienced person to contact me about this idea. My email: [email protected]
    Thanks,

  16. Mike C [ March 11, 2015 @ 01:52AM ]

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  17. Tasha [ March 30, 2015 @ 12:04PM ]

    Mom...looking for Shoffar rental of a celebrity car dont want to go through all of the huge deposits Insurance claims etc just really want him to go out in style take son an date to prom afterwards make few stops etc. Downtown Chicago or him an date to dinner drop date off at home an son home...please email me asap...Thank You

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  19. Scott [ June 21, 2015 @ 07:59AM ]

    Does anyone know what two insurance companies offer the policies for rental fleet insurance for exotic car rentals. It doesn't mention the names of the companies in the article. "Yet very few carriers insure the ultra-exotics such as Lamborghinis and Ferraris. (Petherbridge says only two companies in the country cover the very high-end exotics.)"

  20. NABEEL MALIK [ June 21, 2015 @ 09:07PM ]

    I am looking to start an exotic rental car business in the DC area. I have the funds and credit ready. I would greatly appreciate any advice on the challenges I will face. Also if there is network, I would love to be part of it. Thank you for your time and I look forward to speaking with anyone.

  21. Sean T [ July 5, 2015 @ 06:01PM ]

    Nobel Malin

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  22. Sean T [ July 6, 2015 @ 06:55AM ]

    Nabeel Malik...sorry about that, my phone had changed it by autocorrect.

  23. Kyle E [ July 8, 2015 @ 05:52PM ]

    Is leasing cars to start a fleet possible, or only purchasing, due to sublease issues in a lease contract?

  24. Joe [ July 13, 2015 @ 08:19PM ]

    Looking to start a company of exotic car and yachts Nationwide. I'm in the Midwest area looking for to partner up with the right people. I'm looking to cater to celebrity and your average Joe.

  25. Willie scott [ July 20, 2015 @ 10:29AM ]

    Nabeel Malik and Sean T. I'm on board and would love to team up with you guys, being this is also my passion

  26. Willie scott [ July 20, 2015 @ 10:31AM ]

    Contact me [email protected]

  27. Willie scott [ July 20, 2015 @ 11:02AM ]

    Joe! Let's work together man. [email protected]

  28. Kaizen Life Automotive [ July 25, 2015 @ 11:39AM ]

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  29. Rob G. [ July 27, 2015 @ 09:52AM ]

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    Regards,
    -TOA

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  31. james cleary [ August 11, 2015 @ 09:16AM ]

    I live in the largest city in the country that does not have an exotic car rental company and I am looking to start one. I have everything done, business plan, location, terms and all. I am seeking an investor to join me so i can get started. If anyone is interested in this untapped market contact me at [email protected]

  32. Jay [ November 13, 2015 @ 11:38AM ]

    Let me know if anyone is looking to partner up. Ive been doing research for quite some time and have been looking to get into it. [email protected]

  33. Anthony G. [ December 13, 2015 @ 06:39PM ]

    I just rented a 2015 Camaro z28 from Elliott who runs Exotic Lifestyle Miami. He is very professional and knowledgeable with better miles per day (150) than most other companies. Give them a try, and all of their cars are 2015 models. (305)647-8318

  34. Valeria A. [ January 22, 2016 @ 06:33AM ]

    I'm opening up my own luxury car rental place here in Atlanta, i am looking for local and non local marketing gurus. Please contact me at [email protected]

  35. Valeria A. [ January 22, 2016 @ 06:33AM ]

    I'm opening up my own luxury car rental place here in Atlanta, i am looking for local and non local marketing gurus. Please contact me at [email protected]

  36. Valeria A. [ January 22, 2016 @ 06:34AM ]

    the correct email is [email protected]

  37. Michael Parsons [ February 12, 2016 @ 12:39AM ]

    GDay, who do you use in the USA for this type of insurance for super car hire?

  38. Ben C [ June 10, 2016 @ 08:34AM ]

    I'm glad i found all these great stories as i'm starting to look into starting my own car rental business as well but needs some pointers and direction, as i'm currently a transportation services consultant. i can be reach at [email protected]

  39. Ben C [ June 10, 2016 @ 08:34AM ]

    I'm glad i found all these great stories as i'm starting to look into starting my own car rental business as well but needs some pointers and direction, as i'm currently a transportation services consultant. i can be reach at [email protected]

  40. George [ July 10, 2016 @ 09:04AM ]

    I work for the largest luxury car rental company in the us. Diamond exotic rentals works with smaller exotic car companies to help them rent out for you. Https://luxurycarrentalusa.com

  41. Chris [ September 22, 2016 @ 03:25AM ]

    Im in the Washington DC area and I am interested in this opportunity
    [email protected]

  42. Danielle. [ October 11, 2016 @ 10:30AM ]

    In the Atlanta area and looking to start my own exotic car rental company down here. Would love to connect. My email is [email protected]

  43. seth [ December 19, 2016 @ 11:00AM ]

    last time i was in miami i rented a car from this company premier auto miami. You should check them out they have an amazing fleet with the best prices around. Ricardo their salesman took great care of me. If you want check out their website at www.Premierautomiami.com you will see all of their fleet on the site!

  44. marcus [ December 19, 2016 @ 12:48PM ]

    Today i came in to miami and was greeted by the great team of Premier Auto Miami. Please check out their instagram page at @premierautomiami
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  45. lisa [ December 22, 2016 @ 11:50PM ]

    Any idea on what insurance agencies would insure luxury car rentals?

  46. Rocky [ April 28, 2017 @ 04:39PM ]

    We have exotic cars best price in Miami find us on instgram @deluxeexotics free airport pick up/ drop off

  47. Gary [ May 3, 2017 @ 06:28PM ]

    Hello I'm i San Francisco California and would like some pointers in getting started in this industry.

  48. John [ May 16, 2017 @ 01:37PM ]

    We insure Exotic car rental agencies in six western states. (Arizona, California, Colorado, Nevada, Texas, and Utah). Call me at 702 871-0001

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