Exotic Car Storage: The Hidden Cost Many Don’t Think About

Considering purchasing an exotic vehicle? It’s time to start thinking about exotic car storage. This often-overlooked part of luxury vehicle ownership protects your car from environmental damage, vandalism, theft, and other costly incidents. While the costs of exotic car storage can be high, the risks of skipping it are even higher.

Read on to learn all about exotic car storage, why it matters, and its real cost.

What is Exotic Car Storage?

Exotic car storage includes specialized facilities made to keep exotic cars in optimal conditions. These facilities are designed to meet the unique needs of high-value and luxury vehicles, including precise climate control to protect against damage from humidity or temperature fluctuations, as well as enhanced security measures. They go above and beyond the capabilities of traditional storage facilities to preserve and protect luxury cars.

Why Exotic Car Storage Matters

Properly storing an exotic car has a significant impact on the car’s overall value and investment potential. When stored in sub-optimal conditions, a luxury car can undergo material degradation, corrosion, and other slow-moving types of damage that can affect both its performance and cosmetic condition. WIthout exotic car storage, your car may be subject to:

• Engine damage: Exposure to high humidity and excess moisture can cause rust and corrosion on your car’s engine.
• Paint damage: Sunlight and extreme temperatures can lead to cracked and faded paint, while lingering dirt and debris can cause paint scratches.
• Interior damage: Without proper protection, mold and mildew can develop inside your car. Exposure to sun can also dry out and crack leather interiors.
• Pest infestations: When left outside, your car can become home to pests like rats, mice, squirrels, and other rodents that can damage your wiring, engine, and more. 

Exotic car storage can not only preserve your car’s market value, but can ward off more significant and costly repairs later on.

How Storage Costs Affect Car Value

The cost of exotic car storage can vary dramatically depending on your location, exotic car storage service level, and associated costs like insurance, maintenance, and security fees. Monthly rental fees may range from $150 to $750. But most exotic car owners agree that this cost is well worth it. When paired with routine maintenance, proper exotic car storage can have a dramatic impact on your car’s resale value.

Storage Options for Luxury Vehicles

When selecting a storage facility for your car, it’s advised to choose dedicated exotic car storage over a standard storage facility. While a traditional storage facility may offer some in terms of protection from the elements and limited security, they typically won’t provide temperature and humidity control, advanced security, and other essential features.

Exotic car storage, on the other hand, offers everything you need to keep your car in excellent shape. These facilities include services like:

• Climate control: Exotic car storage provides a consistent temperature and optimal humidity to protect your car mechanically and cosmetically.
• Enhanced security: Exotic cars tend to attract a lot of attention, and along with that comes the risk for theft, vandalism, and other crime. These facilities provide controlled entry and advanced security systems for your peace of mind.
• Maintenance: Some facilities may offer maintenance services, whether regular cleaning and detailing or even fluid changes, tire pressure checks, and battery conditioning.
• Concierge services: Another premium feature of some exotic car storage facilities is concierge services, like exotic car drop-off and pick up directly to your door.

Hidden Expenses of Exotic Car Storage

Exotic car storage is one of the many often-overlooked costs of owning an exotic vehicle. Read on to learn about some of the lesser-known fees associated with exotic car storage so you can get a clear picture of its true cost.

Insurance Requirements and Fees

Most exotic car storage facilities require specialized insurance known as garage keeper’s insurance or storage location insurance. This insurance protects your storage facility in the event of damage to your vehicle while under their care, as well as unforeseen incidents like damage from natural disasters, theft, or vandalism.

Depending on your circumstances, garage keeper’s insurance can cost anywhere from $1,000 to $2,000 each year.

Maintenance and Climate Control Costs

Any maintenance performed by your exotic car storage facility is likely to cost you, as well. Prior to your car’s storage, most facilities will detail your car and prepare it for storage. Many also offer ongoing fluid monitoring services, tire care, and periodic checks on your car. Together, these can cost between $50 and $200 per service.

Keeping your car in a climate-controlled facility may also increase the cost dramatically. These facilities are generally 25% to 50% more expensive than a standard storage facility and may cost anywhere from $150 to $500 or more each month. That said, climate control can protect you from much greater costs associated with moisture damage, paint degradation, and rodent infestations down the line.

Security and Monitoring Investments

Depending on where you store your car and the associated risks, it may make sense to pay for a higher-security facility with state-of-the-art surveillance systems, 24/7 monitoring, gated access, and individual alarms in each storage unit. While these costs are higher, they safeguard your exotic car from theft, vandalism, and other costly security concerns.

Choosing the Right Storage Facility

Selecting the right exotic car storage facility can make all the difference. Read on to learn the key components to consider when choosing where to store your car.

Evaluating Location and Accessibility

Location plays a significant role in the cost and convenience of your exotic car storage facility. Generally speaking, the larger the city, the higher the cost of exotic car storage. Storing your car in New York City, Los Angeles, or San Francisco may land you some of the costliest storage in the nation, whereas storing your car in a suburban or rural location tends to cost less.

That said, the more conveniently located your storage facility, the greater access you have to your car. It may be less expensive to store your car 200 miles away, but it also means accessing your vehicle will present a much greater challenge.

The ideal exotic car storage facility meets a good balance between cost-effective storage and accessibility. Choose a facility that allows you to readily access your car without paying excessive monthly fees.

Comparing Facility Features

It’s also important to choose a facility that has the features you need. Climate control and security are a must for any exotic car owner. If you’re not planning on picking up your car for regular maintenance appointments or performing maintenance yourself, on-site maintenance services present a huge advantage, too.

Before selecting a storage facility, create a checklist of your must-have features, as well as questions regarding the facility’s alarm systems, surveillance capabilities, and any extra fees that may not be obviously spelled out.

Budgeting for Storage Expenses

When drafting your budget for exotic car storage, it’s important to include all associated costs. In addition to monthly rental fees, chart out climate control surcharges, specialized insurance fees, and maintenance costs. It’s also a good idea to thoroughly review your contract for early termination fees or access limitations.

No matter your budget, we recommend setting aside funds for unexpected expenses in the long term. Doing so now can save you from a significant headache down the line.

Common Mistakes in Exotic Car Storage

Exploring exotic car storage? Avoid these common mistakes.

Underestimating Storage Fees

Many exotic car owners exploring storage for the first time only consider the base rental fee, greatly underestimating the cost of exotic car storage. Don’t overlook additional expenses like climate control, specialized insurance, or upgraded security features. While these costs can add up, they’re well worth it. Opting for a cheaper storage option based on cost alone may lead to higher repair or maintenance costs down the line.

Neglecting Regular Maintenance

Another common pitfall of exotic car storage is an “out of sight, out of mind” attitude. Just because your car is in climate-controlled storage doesn’t mean you can skip regular maintenance tasks like checking fluid levels or tire pressure. Overlooking these tasks can lead to serious damage, necessitating expensive repairs and diminishing your car’s overall investment value. If maintenance isn’t included in your storage facility, proactive care is essential to protecting your car’s condition.

Frequently Asked Questions

How do storage fees vary by region?

Generally speaking, the cost of exotic car storage tends to be much higher in big cities and populous areas than it is in more suburban or rural communities. Exotic car owners in San Francisco can expect to pay significantly more to store their cars than an owner in nearby Modesto.

What extra costs are associated with storage?

In addition to the base-cost of storage, you can expect to pay additional fees for insurance, maintenance performed by your storage facility, enhanced climate control, and enhanced security.

Is climate control essential for exotic cars?

Yes, climate control is essential for exotic cars. It can protect your car from rust and corrosion, mold and mildew damage, and other types of damage that can lead to costly repairs down the line.

Can insurance cover storage costs?

Yes, some car insurance covers the cost of exotic car storage. These specialized policies are typically exclusively available for high-value vehicles and act as an add-on to your standard insurance cost.

Conclusion: Hidden Costs of Exotic Car Storage

If you’re going to purchase an exotic vehicle, exotic car storage is a must. These specialized storage facilities protect your investment by keeping your car safe, secure, and well maintained, warding off costly damage that can drive down the value of your exotic car.