“Sounds like a good idea,” I said, and 30 seconds later the top had disappeared, exposing us to a picture-perfect May afternoon.
Kim is co-founder of locally owned and operated Capital Dream Cars, an exotic car rental business, an industry that includes Exotic Prestige and Advanced Car Rental. Pure Exotics is in the process of closing up shop, and there may be others, but not obvious from a quick Google search.
Exotic car rental is different than a high-end rental. A Mercedes is high-end, while a Bentley is exotic. A Corvette, while certainly a fantastic vehicle, is not in the same league as a Lamborghini. No, exotics are just that — not too common and very expensive.
And very head-turning.
While exotic car rentals are big business in places such as Miami, Los Angeles and Las Vegas, it has yet to catch on as much in our humble Washington, DC.
“People appreciate the finer things here, but to some extent, because it’s more conservative here, it’s a little behind,” Kim said. “It’s definitely up and coming. I think it’s wonderful to see that.”
Beauty, Luxury and The Beast
Founded by Kim, her husband, Eugene Kim, and family friend, James Kim, Capital Dream Cars opened in March 2006. The fleet stands at a modest three, but the three aren’t at all modest. In addition to the Ferrari, there is the Bentley and the recently acquired Lamborghini. All vehicles are obtained from authorized outlets.
“Not every Ferrari or Lamborghini is going to be the same as another Ferrari or Lamborghini,” Kim said. “They’re like people. Each of them has a history.”
The fiery red Ferrari 360 Spider convertible is a piece of art. A 3.6-liter V8 propels this beauty, with a six-speed manual transmission. The result is 400-horsepower and a top speed of 183 mph. It retails for $190,000, give or take. Very smooth. Very sporty.
Very Ferrari.
Then there is the Bentley Continental GT. This may be a ridiculous statement, but the Bentley is a highly underrated machine. Driving a Bentley is like flying on a cloud. It’s luxury, inside and out, and with perhaps more technology than a space shuttle. And guess what? It has the best engine of the three. A 6-liter W12 engine and six-speed automatic tranny with Formula One style sport shift gives this baby 550-horsepower and a top speed of 198 mph. At $165,000, it’s a steal.
Finally, the Lamborghini Gallardo, or “Lambo.” It is safe to assume that the valets at a local Ritz Carlton probably have seen pretty much everything. But when a Lamborghini pulls up, even the most jaded car person takes notice.
“To some extent, a Ferrari is flashy, but a Lamborghini is edgy,” Kim said. “You don’t see that as often here. That’s why everyone is drooling. You never quite get over it.”
While the Ferrari gets a couple of looks, and the Bentley does its thing so unassumingly, the Lambo makes heads turn. A gentleman waiting at a bus stop pleaded for a ride, and even the coolest of characters couldn’t resist rubbernecking at the metallic-yellow vehicle.
The Lambo is a beast, surprisingly heavy, and rough to drive. It’s almost frustrating to take on city streets, the 5-liter V10 pleading for the open road, or perhaps a runway. With some open space, the Lambo thanks a driver with smooth shifting and ease of acceleration. The six-speed sport shift is a thrill, almost like you’re at Le Mans. And the interior is the exact opposite of the Bentley’s. It’s more like a cockpit of a fighter jet. Five hundred HP and a top speed of 190 mph can be yours for $180,000.
Who’s That Behind the Wheel?
Taking out an exotic is not like renting from your local Hertz or Enterprise. First, it takes cash — plenty of it. Kim said that the industry standard for a per-day rental is 1 percent of the Manufacturers Suggested Retail Price. For example, a $190,000 vehicle would run about $1,900 per day. CDC’s rates are a little less than that, depending on the day of the week or the season
Just to be considered to rent a car, you need a credit card with plenty of space — a $10,000 hold is placed, more of an incentive to bring back the vehicle in a timely manner, and in one piece. This is nonnegotiable, but if you can’t swing it, perhaps you shouldn’t be there in the first place.
Drivers must have insurance, and there is a background check, where evidence of vehicular abuse is sought. A couple of speeding tickets is no problem. Multiple accidents, DUIs, reckless driving and the like, and you won’t be driving off with an exotic vehicle. Want to make sure you’re looked at a little more closely? Inquire as to how fast you’re allowed to drive the car (the obvious answer is the legal speed limit).
And there are rules. You must be 25. Must stay within a certain geographic location (North Carolina is as far south as you can go). Can’t take the car on a racetrack, use it for any illegal purpose, to tow or push, to carry people or property for hire or to teach someone else how to drive. And each mile over 100 is an additional $2.
And how do they know if you may have or be doing any of these things? GPS. Each car is tracked, and Kim knows if you’re doing 120 mph or taking the Bentley off road. If the CDC thinks there is any suspicious activity taking place, they can remotely lock the car and keep it from starting.
Insurance costs are astronomical. Kim estimated that they take up 40 percent of the business operating budget. While keeping numbers close to her vest, she said it’s probably 10 to 15 times the insurance cost that a private individual would endure when personally owning an exotic. But so far so good for CDC. In its 15 months of business, no one has totaled a vehicle.
And maintenance costs are near sickening. That $20 oil change at Jiffy Lube? Not a chance. Try $300 at a certified mechanic.
So, who rents these things? It ranges from well-known people visiting from out of town, to well-off locals not wanting to buy, to people who saved up for a special occasion.
One funny story has to do with the woman who rented the Ferrari for a weekend as a birthday present for her husband. Upon presentation of the car, the husband nearly had a heart attack thinking his beloved had purchased the vehicle.
“It’s really fun, just to see their response,” said Kim, adding that she gets a lot of people taking out a vehicle to take to their high school reunion.
Whether you have money to burn, or are looking to live a dream for just a few hours, an exotic car rental can make it happen.
“It’s an attractive option for those people who don’t necessarily want to own,” Kim said. “We’ve had people who have saved up for a special occasion. It’s their splurge.”
Father’s Day Specials and Packages
Father’s Day is just around the corner. Are you looking for the perfect gift for your special man? Look no further. Many of your exotic car rental companies have put together special packages for Father’s Day. Here are just a few.
Mandarin Oriental, New York’s Gotham Dream Cars Father’s Day Packages
New York’s Five-Star Mandarin Oriental hotel announces two fabulously fun Father’s Day packages in partnership with Gotham Dream Cars. The packages feature luxurious accommodations in a room or suite overlooking Central Park or the Hudson River, and Dad’s choice of an adrenaline-pumping Dream Car Tour (customized test drives of six high-performance automobiles) or private use of a Ferrari or Lamborghini for the entire weekend.
About
Mandarin Oriental,
New York:
A stunning fusion of modern design with stylish
Oriental flair,
Mandarin Oriental,
New York features 248 elegant guestrooms and suites
-- all with breathtaking views of Manhattan and
advanced in-room entertainment technology. Amenities
include Asiate, the hotel's vibrant
restaurant,
and a cocktail bar created by noted interior
designer, Tony Chi; a lobby lounge with dramatic
views of
Central Park;
The 14,500-square-foot Spa at Mandarin Oriental; and
a state-of-the-art fitness center with a 75-foot lap
pool. In addition, there is premium meeting and
social event space, including a 6,000-square-foot
pillar-less ballroom with three walls of windows
overlooking
Central Park.
As part of the premier
Time Warner Center,
Mandarin Oriental, New York offers on-property
access to world-class dining, shopping, and
entertainment, sharing its prestigious address with
Jazz at
Lincoln Center,
Gray Kunz's Café Gray and Thomas Keller's Per Se.
About Gotham Dream Cars:
Gotham Dream Cars is New York and South Florida's
premier provider of "ultra-exotic" vehicle rentals
from the world's most exclusive auto manufacturers,
including
Ferrari,
Lamborghini,
Bentley,
Porsche,
Aston Martin
and more. The company currently operates two
locations, serving New York/the Northeast and all of
Central/South Florida. Gotham Dream Cars is also the
creator of the unique Dream Car Tour™ driving
experience and DreamShare™ Membership Club. More
information about the company is available at
http://www.gothamdreamcars.com
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