Whether you own a $30 million car collection or a basic daily driver, maintaining and repairing a vehicle ensures its longevity — and that’s important for one of life’s largest investments. When it comes to transitioning into supercar ownership, costs do not stop at the price tag; upkeep pads the bill throughout the car’s lifespan.
Although all new vehicles come with a cushioning warranty and maintenance plan, out-of-pocket costs on an exotic will inevitably add to your annual spending. When breaking down the hidden costs of maintaining a supercar collection, research finds that the most expensive categories for owners fall under repairs that are not covered under warranty, aftermarket up-grades, and other essential services to keep cars on the road.
The Hamilton Collection. (Source: The Hamilton Collection via Facebook)
With the honor of owning a milestone machine like the Lamborghini Countach comes the responsibility to meticulously maintain it at top-notch condition. Tommy Gauthier, who manages an extensive garage for The Hamilton Collection, cites the vintage model as the costliest to maintain among the company’s fleet. “As of right now, the Countach engine/transmission rebuild takes the cake, as that was well above the six-figure mark,” he shares. The importance of a clean bill of health carries on long after initial ownership, adding some extra value and comfort for future owners.
Even with performance cars rolling off the production line equipped with enough power to navigate any road or track, most owners look to install aftermarket modifications to improve horsepower, aerodynamics, and handling. Cheaping out on parts is not an option when it comes to upgrading luxe vehicles, which is why reputable companies go through substantial R&D to guarantee the perfect fit and finish. No one can prep an owner with a costly budgeted build, as the market presents infinite options to re-imagine a spec to fit your wants and needs. Tallying up The Hamilton Collection’s spend on upgrades for 2023, Gauthier figures the fleet racked up $42,000 on wheels/tires and $40,000 on PPF/wraps alone.
Outside of servicing and modifying, everyday vehicle ownership comes with standard costs like insurance, fuel, and car care. If you guessed that insuring a Pagani Huayra with full coverage would be higher than your average BMW, you guessed correctly. Insurance premiums skyrocket on high-line exotics because of higher repair costs, hard-to-source parts, and high-maintenance engines. Fueling those handcrafted motors also increases as average MPG numbers become an afterthought for those more focused on experiencing a high-horsepower machine at full throttle.
The Hamilton Collection (Source: The Hamilton Collection via Facebook)
Lastly, car care stands out as a must for keeping a vintage collection looking more like a new car showroom. In Illinois winter conditions, The Hamilton Collection spends a lot of time and money on full-detail washes after snowy drives in hypercars like the Bugatti Chiron. Considering these as essentials, the 2022 total for insuring, fueling, and detailing The Hamilton Collection reached an astonishing $49,545.
Still, ask any avid car collector their opinion of hidden costs for maintaining a car collection, and all will agree that it is worth every penny.
Story Featured In Our April 2023 Issue