Timeshare Your Favorite Lamborghini
Everyone would love to have a friend like John Caron. John Caron was tired of working long hours and not seeing anything for it. So two years ago he quit his job as a marketing executive and decided to branch out on his own. Thus creating what he called, the Otto Club. The Otto Club is a sort of time share for exotic, high-priced vehicles.
Now he not only has a stable of nine cars worth a combined $1.5 million, he is also getting ready to open a South Boston clubhouse this June for the cars and the people who love them. “We really want to boost our membership in town,” says Caron, 39, of North Andover. “But, specifically, we want to provide our members what they can’t get anywhere else: in essence, an urban country club.”
The Otto Club is like a toy box for adults. Members get to experience the rush of driving Lamborghinis and Ferraris without the hassles of owning them. Annual membership fees are $19,500 or $32,000 for individuals and $39,500 or $69,500 for corporations. It sounds expensive, but when you consider the cost of actually owning these cars, you realize that you are acctually saving money. At least a little.
The cheapest (a Porsche 911 C2S Cabriolet) comes in at $102,000, while the most expensive (a Lamborghini Gallardo Spyder, set to be delivered next month) is $231,000, about the cost of a small condo. And you think the car insurance on your Honda is pricey? “It’s about a lifestyle decision,” says Caron. “Do I really want a single car running my life, or do I want a collection of cars that adapt to me?”
Caron, for one, will take the collection. He’s a car lover just like his members, and is thrilled to wake up every morning to the possibility of driving just about anything. “I have every car in the Otto Club collection,” he says. “That’s the beauty of being president.”