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Hagerty Employee

Meeting the "enablers" at Petrol Lounge

Imagine you've come into a ton of money. So you buy your first vintage or supercar. Congratulations! Now, where to park it? Your kids have cars; even if you have a three-car garage, you're tapped out. This may sound weird, but you also don't have time to drive your pride and joy often enough to [...]

The Petrol lounge concept is ok for one or two cars that you rarely use. None of them them that I know of offer 7x24 spontaneous access.

An alternative growing in popularity is a garage condo. You own it (at least the interior) identical to a residential condo. The $ math works. Large home garages have virtually no positive value on equity, they are money down the drain. Car condos are appreciating similar to other commercial buildings. I have 6 cars in a 25 x 50 size, also with a lounge/loft, half bath and 4 post lift. It costs me far less than $2400 (6 cars x $400) per month, plus I have 7 x 24 unfettered access to my cars and no worries about someone else dinging or otherwise messing with them. And in the last 4 years mine has appreciated 40%.