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So I was thinking of a scheme, since lease is based on the purchase value subtract the residual value of the car. Wouldn't Supercars that cost $180k+ and keeps it residual value be affordable to lease? I did a quick calcuation for leasing a 180k+ car, for 72 months, with 80% residual value at the end of the lease. 1600 dollars a month in payment, I could afford that!
I came up with 80% residual valuve based on trying to find a 2001 Ferrari 360, which cost $150k new and still cost $120k minimum.
So tell me, how is this a flawed plan. I know I overlooked something.
So I was thinking of a scheme, since lease is based on the purchase value subtract the residual value of the car. Wouldn't Supercars that cost $180k+ and keeps it residual value be affordable to lease? I did a quick calcuation for leasing a 180k+ car, for 72 months, with 80% residual value at the end of the lease. 1600 dollars a month in payment, I could afford that!
I came up with 80% residual valuve based on trying to find a 2001 Ferrari 360, which cost $150k new and still cost $120k minimum.
So tell me, how is this a flawed plan. I know I overlooked something.
A 72 month lease? Isnt that pushing the envelope just a little bit? If that is available then why not......
Maybe you should just rent one for like 1-2K when you get the urge? Might be cheaper that way.
Well, the shorter the lease period, the more residual value, so it should off set it. Even after 6 years, a Ferrari 360 keeps 80% of the value, was my point. So maybe 3 years, a Ferrari F430 might keep it's 88% of it's value.
If you are going to pay $1600 a month to lease a supercar, you myswell find a slightly used supercar for around $100,000-120,000 and buy it. I'm sure you can find a 360 or Gallardo or something for in that range...
You may pay a LITTLE more (I'd estimate a $100k car to be $1800 a month), but at least you'll own it at the end of the term. If you don't want it then, sell it and get some cash back...
Leasing it is just silly IMO. It's like tossing away $1600 a month for 6 years. You'll have nothing at the end other than more empty pockets...
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Silk, I am sorry but that is plain wrong. Many people do not fully understand leases. There are thousands of places that lease exotics. And there is a real advantage. For instance I leased my 03Z and just sold it (yes you can sell a lease just as if you owned it). I made several thousand dollars over what the payoff was. In addition, I paid very little interest over 3 years, had very low monthly payments and was able to save a bunch. So no, I dont have empty pockets.
Another example, I just leased a 06 pathfinder. Vehicle cost is 38k but my payment is under 400. My total interest over 39 months is only 900 because of the low money factor. I would have paid 5 times as much interest should I have purchased it which means when I sell the car in 2-3 years I would have actually owed more because my payments would be paying for a higher interest rate! Of course it is variable, there are bad leases. You just have to know how to get a good deal.
Very well said. The leasing or purchasing argument boils down to the specific deal you and the dealer can iron out. Its all in the details.
Quote:
Originally Posted by A&M 350Z
Silk, I am sorry but that is plain wrong. Many people do not fully understand leases. There are thousands of places that lease exotics. And there is a real advantage. For instance I leased my 03Z and just sold it (yes you can sell a lease just as if you owned it). I made several thousand dollars over what the payoff was. In addition, I paid very little interest over 3 years, had very low monthly payments and was able to save a bunch. So no, I dont have empty pockets.
Another example, I just leased a 06 pathfinder. Vehicle cost is 38k but my payment is under 400. My total interest over 39 months is only 900 because of the low money factor. I would have paid 5 times as much interest should I have purchased it which means when I sell the car in 2-3 years I would have actually owed more because my payments would be paying for a higher interest rate! Of course it is variable, there are bad leases. You just have to know how to get a good deal.
Sure your car can have 80% or higher residual after however many years of leases, but that doesn't mean you'll actually get back that amount.
Assuming your car is worth 144,000 after 20% depreciation, how many people will actually burn that kind of cash for an used exotic when they can spend that amount on a new one with a slight loan. Unless you're willing to take a loss and sell it, then it might be ok.
Scheme to lease a supercar
my Z.
