A new car club is hoping to attract some of the country’s wealthiest individuals to drive its range of luxury cars.

The Autobahn Club allows members to drive cars worth up to €500,000 for a fraction of that cost.

For an annual membership fee of €20,000 or €25,000, depending on whether you opt for the gold or platinum membership option, members can drive the cars for up to 50 days a year.

Paul Clifford and Adrian Slattery are joint directors of the new car club, which has been in operation in the North for the last two years. They have an arrangement with the Northern Irish end of the business to rotate the cars between clubs north and south of the Border.

Clifford said they intended to use the Northern Irish model to develop the business in the Republic, but he said business would be better south of the border because of the large amount of disposable income available.

The club is in the process of securing a premises for its business in Sandyford, Dublin. Clifford is hoping to sign up to ten members initially, but would hope to eventually increase this to about 40.

The club has approached two private members clubs, the Odessa Club and Quintessentially, offering them a discount for their members.

An agreement is in place allowing the use of any of the Northern club’s eight cars. Members can choose from a range of exclusive cars, including Ferraris, Maseratis and Lamborghinis.

To become a member, applicants must have a full, clean driving licence. In general, members must be over 30, but Clifford said exceptions could be made on a case-by-case basis.

Insurance costs for the business are significant. Clifford said the club was covered under the Northern Irish club policy, which is worth about stg£1 million (€1.47 million). Members that cause damage to the vehicles while driving the club’s cars must pay in excess of €7,500.