Buying a used exotic car is a bit different than scoring a Nissan Altima from CarMax. When you are dealing with a complicated car that is designed for speed, it’s important that you maintain an extra level of diligence to make sure your dream ride is not a nightmare.

Friend of Jalopnik and had a desire to own the (Can you blame him?) He documented his journey in a new video and offered up some tips on how to find the perfect exotic or performance car for the right price. Here are some of the big takeaways from Larry’s quest.

Only nine 1997 McLaren F1 GTR LT “Longtails” ever existed, and this one still works for a living.…

First, when you are buying a car like this, you need to establish your budget and take your time. This isn’t a practical purchase so there is no urgency—it may be awhile before the right specimen comes along. don’t just jump at the first example you find.

Also, realize that your budget range may require a car that could have some blemishes on its history or may need some reconditioning. That can okay as long as you are prepared for it, and most importantly, I cannot stress the last part enough.

There are a lot of cars that look good on the surface but were either not properly maintained and/or have major red flags in regards to the condition of the vehicle. Sometimes it’s worth spending a little more to get a higher quality example.

Check out the video and learn from Larry.

(H/T to Mike D!)