Update: After much asking from our readers, we decided to make a free presentation on the real cost of owning and mantaining a Bugatti Veyron. You can signup by clicking here.

Owing a Bugatti is nowhere near the word cheap. With a price tag of over $1 million and slightly under used, the Bugatti Veyron is one of the world’s most expensive and exclusive cars but what about the cost of ownership of such a unique and extravagant car. Well, in this case if you have to ask then you most likely can’t afford it! Learn how to afford it here.

Here is a breakdown of the amazing Bugatti Veyron’s maintenance cost of ownership…

The more common of service on these cars is the routine annual maintenance at $21000.00. That very high dollar amount could buy you one used BMW M3 per year, or would equal servicing a Ferrari Enzo 8 times. This routine maintenance includes all fluids but is primarily an inspection of the car to ensure it can continue to withstand the pressure of 250mph+.

The second worry you will have after shelling out $1 million for this car and handling its yearly routine cost of $21,000.00 will be the cost of its tires which are quite expensive at $33,000 a set every 2500 miles which is why we anticipate that not many people will be driving these cars as often as they would like. The worst part is that not only will you pay $30,000+ for tires but expect to pay $50,000+ every 10,000 miles for a new set of wheels on top of the tire costs.

Should you live in VA, CA or some other state that steals from its residents using a car property tax, then expect to pay over $50,000 annually just for the right to own your Bugatti. Assuming you are able to pay the $150,000+ a year for service, tires and taxes; finding insurance will be equally painful as 6 out of 7 places we called didn’t insure such a car, while the last place told us that we would have to bring our entire insurance relationship to them prior to them even evaluating the possibility of taking on such a car. The good news was, they didn’t just say no. Based on available data, we project that insurance should be around $3800 a month.

In conclusion, the true cost of ownership of the Bugatti Veyron is almost the same price as buying and throwing away one used F430 Spyder each year you own it (if you follow the instructions here). We would have opted to leasing one, but a $80,000 down payment and 60 lease payments of $15,000 still were not within our budget… but then again the word budget doesn’t exist for those that buy a Bugatti Veyron.