Book by the Hour or by the Day
When renting a Lamborghini (or most other exotic cars) in a city like Miami, the price depends on the length of your rental. But when is it better to book by the hour or by the day? The short-term rate looks good until you multiply by a few hours. For example, if you want a Cullinan for four hours, it will cost you $1,400 at $350 an hour. That is almost the same as booking the vehicle for a full day. It’s $150 an hour to rent a Lamborghini at the entry level, so any more than six hours of driving pushes you beyond the day rate of $900.
Companies offering hourly rates in Miami typically start at two hours, although some places allow for a one-hour booking. In places like the Hamptons and New York City, some companies say they offer hourly rentals. Others will offer hourly only with a chauffeur or for production shoots. Some will require a two-day minimum on standard weekends and three days on holiday weekends like Memorial Day, July 4th, or New Year’s.
Rental Prices
The daily rate varies considerably depending on what the car is. Ferraris often come in at $1,295 to $2,995 a day; Lamborghinis range from $800 to $2,495; Rolls-Royces come in at $900 to $2,500, depending on model. A Huracán EVO Spyder lists at $1,290 a day in Miami. And the newer the car you want to rent, the higher the price goes. A new Lamborghini Huracán typically goes for $1,500 to $2,000 a day, while a five-year-old one might go for $1,000 to $1,500. In New York, a Lamborghini Urus or Huracán might cost you $1,299 a day. The calendar affects rental prices as well. Over summer and holidays, the daily rate can jump 30 to 50 percent, and a Ferrari can cost twice the off-peak price if Art Basel is in town.
The amount of mileage you get and the costs of the overage varies considerably from company to company. Most companies include 100 to 150 miles for a day rental. One Miami company includes 100 free miles in each 24-hour rental but says miles on hourly rentals may vary. Another company offers 125 miles free for each 24-hour period. The price of the additional miles varies from $3 per mile to $8. If you are planning to drive a lot of miles, you will need to ask questions. Getting the cost of overage miles in writing is even more important.
Beyond mileage, consider the extra costs when renting in Florida, where you will pay $2 more per day or any part of a day. So if you rent a car for a few hours, you still pay the full-day surcharge. New York adds a special 12% tax on car rentals on top of the normal sales tax.
”Rent longer, get cheaper” also applies to exotic cars. A Ferrari might rent for $2,000 a day, but the weekly rate is often $1,200 to $1,400 a day. Three-day weekend rates also fall compared to the daily rate. In Miami a three-day weekend rental will cost about 2.5 times the daily rate.
Car Insurance
Your own car insurance will rarely cover the rental of an exotic car. You will pay more for the coverage, usually $20 to $40 a day. In many cases, the deposit in Miami is $2,000-$20,000. You must use a credit card with a limit that can handle the amount of the deposit.
In the end, if you are looking to book a Lamborghini in Miami or New York, then you’ll need to think about the amount of time you’re looking to rent one for and the distance you’re traveling. Look at what else you have planned and then decide. Whenever you rent a car, be it a sedan or an exotic, for a day or by the hour, make sure you understand all the costs.