7 Reasons Why Luxury Car Ownership is Dead and Exotic Car Membership Clubs are Thriving:
The vivid and visual dream of stepping into one's dream car has been motivational fuel for many of our clients. However, these same clients came to understand that owning a luxury car may not be the best move after all, when they had the option of subscribing to a Luxury Car Club.
1. Depreciating Assets
Wise and wealthy individuals know they must own appreciating, not depreciating, assets to maintain their economic viability. Some of the fastest depreciating assets on the market are luxury vehicles. This means that owning a luxury vehicle is fundamentally antithetical to wealth building. So, why do so many wealthy individuals own luxury vehicles?
The answer is a bit of an insider secret. The secret is that they've converted their depreciating assets into an income-generating engine by adding them to the DS Luxury fleet. When an investor adds their luxury vehicle to the DS Luxury fleet, they are able to maintain access to their vehicle while they are in that geographical part of the globe. The vehicle generates income for them while they are not using it.
This conversion of a depreciating asset into an income-generating asset is key to helping the wealthy grow their income. When you pair this with outsourcing, repair, and maintenance, you can see exponential benefits.
2. Repairs & Maintance
Owning a Luxury Car is a near universal dream, until it breaks down and the dream instantly turns into a nightmare. With supply chain and labor shortages dominating the marketplace, a simple crack in the windshield or radiator can easily turn into nine months of downtime for your dream car as it waits for parts to come in and the shop to continue repairs. Believe us, we have a fleet of 50+ luxury cars we manage, and the nightmare is a daily occurrence around here.
Thankfully, we've got an antidote to the nightmares. At DS Luxury, we have personal and standing connections with leading repair and supply chain experts. Because we've been around for nearly a decade, steward $30+ million in assets, and are significant players in the luxury and exotic vehicle markets, we have access and connections that you, as a single vehicle owner, just don't have.
These connections range from getting tires for a Ferrari 488 with three hours' notice, when there's only one set in a warehouse within a 300 mile radius; we call a franchise owner while he's at dinner with his wife. You don't have his number, and even if you did, he wouldn't pick up. He does when we call, because we give him $10K worth of business every month.
Suffice it to say, repairs and maintenance are becoming an ever-growing constraint on luxury car ownership, and our members at DS Luxury can shrug off that responsibility as we handle it entirely on their behalf.
Owning a luxury vehicle forces you to navigate supply and labor shortages every time a sprocket breaks. DS Luxury Members convert that time to loving their partners, laying on beaches, and closing deals, as opposed to being on the phone with the repair shop for the third time this week.
With supply chains as twisted as the Gordian Knot, a $30 air intake sensor could mean you're without your car for six months as the repair shop tells you "we're waiting for the parts to come in". With a DS Luxury Membership, that's no longer your problem.
3. Tax Write-offs
Good luck convincing the IRS that the Ferrari SF90 you're driving is a tax write-off with the traditional ownership model. You're an audit away from a massive tax bill.
DS Luxury members have learned that an "Executive Transportation Service" is a "normal and necessary" part of operating a growing enterprise. A recurring subscription, such as a DS Luxury membership, often passes higher scrutiny by tax professionals.
This means that you can be driving a Lamborghini and not paying taxes, unlike the other guy who stuck with ownership instead of the access model.
4. Variety
Let’s admit that you’re a mammal and mammals want new and changing experiences.
Inherent with this admonition is the observation you’re going to get bored with the same car, day after day. It’s not you, it’s your inherent genetic predisposition wanting new and changing experiences.
DS Luxury doesn’t have that same challenge, as they have access to an entire fleet of luxury and exotic vehicles. They can have a vehicle, which is unique to each occasion, meeting you wherever you are.
Need a white convertible for a wedding on Friday night, an eight passenger truck for family night on Saturday, and a black Rolls-Royce for a funeral on Sunday? Our members have each of those ready to go while owners of individual vehicles are stuck with just one option… Not to mention the tax, (Hyperlink) repairs, and maintenance (Hyperlink) which comes with limited access.
5. Global Trend: Access Is The New Ownership
Ownership is becoming access.
Record collections, spanning an entire wall, have become a $9 Spotify subscription.
DVD libraries have become a $10 Netflix subscription.
Hotels have become Airbnb rentals.
Car ownership has become leases.
Home ownership has become monthly rent.
Software once bought on a CD is becoming a monthly subscription. SaaS (software as a service) rules the market.
Access is surpassing ownership as the preferred method of engaging with the world. Both parties win.
Owners get recurring revenue while users get the newest and best products and services. It's a true win-win scenario for everyone.
Every industry is being transformed by this trend, and those who capitalize on it are making profits on the backs of those who refuse to give up the old ownership model.
DS Luxury is the definitive market for luxury vehicle access, as we enable those owners who are still in the market to make a profit.
Because we recognize this global trend, DS Luxury has been able to grow year over year for seven straight years. You can join that growth with a DS Luxury membership!
6. Anonymity and Privacy
A common value of DS Luxury Members is privacy and some level of anonymity. Whether for legal liability reasons or just a sense of staying under the radar, a Luxury Car Membership allows you to maintain levels of anonymity in your daily life that the paper trail of insurance, title, and transactions simply don't allow for.
7. Liabilities and Legalities
There are several benefits to having a Luxury Car Membership, as it allows for some legal maneuvering that ownership doesn't. Some DS Luxury Members have cited tax brackets, divorce filings, potential reduction of liability, and asset ownership limitations as a few of the numerous reasons they've chosen access over ownership.
The day you understand access is the new ownership, you’ll become a DS Luxury Member.
