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I think of it this way, if you had $30M, you wouldn't really spend $20M on a car; if it was a $2M car and you had $30, sure. Most of these cars I'm pretty sure (if bought at auction) must be paid up front.
If they really didn't have the cash to buy another $2M car, I would imagine them driving a $300K car.
But those are just my thoughts.
Yes, these cars going for this much at aution, or private sale (much more common in the $1M and up catagory) are not financed in any way shape or form. The amount of liquid calateral requirements to get a loan like that would defeat the purpose of the loan. The classic Ferrari race cars (as with the Aston, Lancia, ect.) have been increasing in value sharply over the past 5 years.
Someone who buy's a $28M car has A LOT more that that to spare. $100's of millions is likely if not billions.
