Planning To Buy A Supercar, Instead Plan For Hypercar

Supercars and hypercars are top-notch cars almost at par in design and performance as well. But, hold your horses if you’re thinking of investing in these expensive automobiles.

Supercars spell out performance on the road. But a hypercar takes a step further – a more powerful engine with a better brake horsepower (BHP), new technologies that push the conventional boundaries.

Before you plan to buy a hypercar, you need to know at least two of Ferrari’s supreme automobiles to get the gist of what you’ll be dealing with.

• Ferrari 812 Superfast

The 812 gives you a solid 800 bhp on-track performance at an 8,500 revolutions per minute (RPM). The V12 engine is backed with an exceedingly capable electric-powered steering wheel, making a drive in this hypercar an exhilarating experience.

• LaFerrari

LaFerrari challenges the impossible. What sets the car apart from the 812 Superfast is its hybrid build – fusing technology and a conventional engine. You can reach 60 kmph in just 2.4 seconds. The LaFerrari stands tall and overtakes the 812 by a considerable margin.  

How to make this dream a reality?

By default, there are a few dots to connect to making your dream of owning a hypercar a living reality. Investing in a hypercar also requires a know-how of the legal procedures to acquire it.

Since buying a hypercar is an investment compared to economy-built cars, its legalities differ as well. Here’s the essential checklist:

1. Personal details with identification proof
2. The number of sports cars owned, if any (along with legal documents of ownership)
3. Detailed driving habits of the customer
4. Motorsports license (in some cases)
5. Reason for buying a hypercar as a personal asset

All the above must be cleared for you to purchase and drive a hypercar legally.

Create an investment plan

Once you’ve fulfilled the legal requirements, you can choose whether to save, invest, or avail car loans.

After determining the risks involved with each purchase option, formulate a full-fledged investment plan. For example, if you’re seeking to buy a hypercar within a time frame of one year, invest your money in equally bearing funds during the same period.

Here are some options:

1. A fixed deposit or recurring deposit could fare well if you’re seeking a lump-sum interest rate at the end of maturity.
2. Liquid funds also offer reasonable returns but on a shorter maturity period.
3. Invest in mutual funds that fit your investment goals along with the returns on a long-term period.
4. Stock market is a small investment plan that could attract good returns. There are many publicly owned stocks to buy today.

 It is essential to understand your returns from the stock market as well. For example, fixed returns have no flexibility and have a limited tenure.

Your investment plan depends primarily on the timeframe you’ve set to purchase the automobile along with the cost.

Car loans

If you’re seeking to avail a car loan for purchasing your car, you should:

1. Ensure you have enough balance to clear the down payment
2. Choose an EMI plan that sits equally with your financial strength
3. Use loan calculators to get the accurate figure you need to clear the debt

Seek expert advice

Get a review of your overall plan from an expert. To make a robust financial plan, you need to –

1. Review your plan and time intervals
2. Keep track of your goals and make adjustments to achieve maximum flexibility for the purchase
3. Record your increments and make necessary modifications to the plan
4. Understand the legalities involved in purchasing such cars
5. Keep a bonus budget aside for purchasing your car insurance as well