The silver-coloured Porsche 918 Spyder caught on fire Sunday night at an Esso gas station in Caledon, Ont., near Hurontario Street and King Street.
Some people driving by captured video of the burning sports car.
The video was posted online and can be viewed at the top of this page. Mobile users can click here to watch it.
Witnesses say the fire began after the gas overflowed and then ignited from the vehicle's exhaust heat.
The car belonged to Michael Wekerle, one of the judges on CBC Television's Dragons' Den.
Wekerle was not injured in the fire. The car was totalled.
The burned-out car has been towed to Wekerle's nearby Caledon property. He had paid $900,000 US for the vehicle and taken possession of it on Sept. 3.