You’ve always wanted to do it.
Driving down Italy’s Amalfi coast behind the wheel of a Ferrari or Lamborghini has been stuck in your head ever since you had that supercar poster in your teen bedroom. Or perhaps you’re in Frankfurt for a business trip and need to wow a potential client who is about to sign a seven-figure contract with your business. Either way, you’re starting to look into the luxury car rental market. One question is bound to emerge – how much do you actually have to pay? Considering all the possible variables, how much does it cost to rent a luxury car in Europe?
The answer to that question depends on a number of variables. Making matters worse, too many small luxury car rental companies charge a number of hidden fees that make the price seem much lower than it actually is. We don’t blame you for getting confused, and we want to help. Keep reading to find out how much it costs to rent a luxury car and what factors might influence that price of rental.
The general price of an luxury rental car
Let’s start with the general question first. The price of the car rental differs depending on the exact car make and model. A Lamborghini will most likely cost more than a Porsche or Mercedes would, though individual cars do fluctuate in that regard. As you might expect, the price for a car rental is roughly based on its market value:
The rule of thumb is that the daily rental is 1 percent of the value of the car. Using that as a base, price is modified based on demand, prestige, and public perception.
To stay with the above example, a Ferrari with a market value of around € 150,000 will rent for about € 1,500 for 1-day rent. By contrast, a € 75,000 Mercedes Benz will only set you back €750 per day. Importantly, the price to base this calculation on is market value, not the purchase price. The € 150,000 Ferrari may have been worth € 250,000 new, but its current value is what drives the daily rental price.
Considering the variables that influence luxury car rental price
Of course, the above rule of thumb is not the end of the conversation or calculation. If every rental service used this rule, all services would have exactly the same price. We know from experience that this is not the case. So what variables further influence the price?
Here’s a sample of the factors that matter in pricing your luxury vehicle.
Rental location: The city in which you look to rent your exotic vehicle also plays into its price. Frankfurt, Germany may be more affordable for some models, while Geneva, Switzerland and Monaco may be more expensive. Rather than looking for abstract prices independent of where you’re looking to rent, keep your destination in mind.
Season/Availability. During peak seasons, such as Christmas in St Moritz, Switzerland or Fashion Week in Milan, Italy, the price for rentals tends to go up. That’s because more people are looking to enjoy their luxury vehicle experience, and that added demand will lead to price increases.
Unique Features and Market Run. The more unique a car is, the higher its rental cost will be. A custom Mercedes-AMG with chrome rims and an high-end multimedia entertainment system will cost more than a standard mass-market alternative. Models that were produced in limited runs, especially from exotic brands like Rolls-Royce, Bentley or Maybach will also be priced higher than their generic value.
Rental duration. One-day rent comes with the highest cost-per-day rate. Price per day goes down with each additional day. For example, one-day rent of a Ferrari Portofino in Milan will cost you € 1,500 while a 7-day rental will cost you close to € 7,000 so the price per day is almost 50% lower.
Mileage Limit. Finally, the number of miles you’re planning on driving may influence the price of your rental. All luxury cars come with a daily mileage limit, and exceeding that limit will result in additional fees that can be significant. If, for instance, your mileage limit is 100 kilometers per day and you plan on driving 200 per day, expect your rental costs to increase significantly.
How to Avoid Hidden Fees on luxury car rentals
The last variable mentioned above is actually a perfect example of a fee you might not be immediately aware of. Factors like availability, model, and locations tend to be clearly reflected in the sticker price of your luxury car rental. But the service you rent from might not disclose its additional fees, which can drive the price up significantly without you even knowing that is the case.
That’s why it’s so important to know exactly how much you will be charged on the day that you pick up and get behind the wheel of your luxury rental car. First-time renters are eager to experience the luxury of sitting behind one of the most exclusive car makes in the world, and rightfully so. However, they get wooed by artificially low prices, only to experience a shock when they get the receipt. And let’s be honest: none of us want to diminish the excitement of a once-in-a-lifetime experience just because the price is higher than expected!
The key is knowing how to avoid these hidden fees. One step in that process is to conduct as much research as possible in order to inform yourself before signing over any type of process. Of course, that research can take time, and it can also be cumbersome since you’re planning an entire trip as well. Instead, consider going with a rental service that does away with hidden fees. With Lurento, you’ll experience no hidden fees, so you can comfortably browse our selection in your city of choice to find the perfect car for your trip.
