Hello I would like to Lease a Ferrari F430 for ~ 2 years and return it, I have searched online countless hours however I was not able to find a single dealership who is leasing it.. My question is that.. Can I Lease a ferrari F430? Or it's hard to find? I am in the United States by the way. Thank you
If there is no dealership who will lease a 430.. then no you can't. It's a used Ferrari at this point. Why not buy one and then sell it after 2 years?
Maybe sales tax...? particular if you are in a state (like CA) that does not give you "tax credit" towards a next car.
You can probably do an open ended lease with some private leasing company but why? There are tons of fees involved likely not a great money factor and open ended leaves all risk on you. I doubt anyone will do a closed end lease like a main stream manufacturer offers on its new cars. These cars are heavily depreciated as it is. You can likely buy one and drive it and sell it in 2 years and lose less than you'd pay to lease. The bad part is you pay sales tax to buy. Maybe find a way to register it in a no sales tax state? Sent from my iPhone using Tapatalk
Open ended lease.. Putnam or Premier. It might make sense from a tax standpoint but only if they do it with no cap cost reduction. I was going to use Premier on my F430. The original quote was 5k out of pocket and $1100 per month 5 years. Final quote $30k out of pocket and $800 per month. I have had BMWs, Mercedes, Porsche ... But never an "exotic". They said that's why they wanted more down... I wasted 4 days with them provided more financial info then when I bought my last house and they came with that bs of 30k down.. That was what I was trying to avoid with leasing. Btw credit scores were from 793-811. I would steer clear of them!!! I skipped them and went with a conventional loan. Put 15k out of pocket and payments not much more.
You might try Autoexotic in Sarasota Fl. They rent them so they may lease one. Naples Motorsports is leasing a red 2009 430 spider check that out .
Correct me if I am wrong but besides opened end leasing (through Premier of Putnam for example), nobody will do closed end leasing for a used car.
Not that I have seen. One more thing Ferrari does open ended leases too at the dealership. I didn't inquire because I got a deal with a private but it's worth a shot if you are looking.
Dealers lease pre owned BMWs, etc. all the time. I'm sure Ferrari dealers can arrange financing for you. Leasing is a form of financing.
You'd be better off Paying the Taxes and buying it, Then leasing it...The fees and interest you'd pay on the lease would probably be more than the Taxes.... Besides....You'll want to keep it more than two years!! TRUST ME.
Why would you take 150k out of investments to buy a car? Maybe I'm crazy but I would not pay cash when interest rates are so low.. Not matter what kind of investor you are you will make more than the highest loan interest rate..
Don't forget the tax implications- if you own a small business- the lease is deductible. And you can buy it out personally @ end of term. So effectively walk away with a 430 for 30-50k out of pocket while the company pays the rest... Much better deal then paying in cash.
Please tell me what accountant you use and how you managed to convince the IRS that it was a "company car"...
I guess he is safe as long as he doesn't get an audit from the IRS...and I also would like to know what kind of accountant would advise him to do that?
It is possible. I talked with my accountant and in my profession (I do photo & videoproductions), I can use the car as some sort of presentation-ceremony car. For example photoshoots on a wedding, ... etc.
I wish you the best with that in an audit... I can't imagine that one has been tried before.. Must use the car in a documented shoot for non-hobby purposes once a week right?
I can confirm the above. The Premier package is a terrible deal; they prey on people who want to drive dream cars despite insufficient cash flow. The terms are designed to lock you in for 12-24 months, when they make a large amount of money off of you in finance charges. A much better proposition is DCU; they will finance the car for as low as 1.24% over 65 months. I ended up paying cash for my cars. I may take up DCU on their offer eventually; it's too good a deal to pass up.
The auditors can't say anything about it if it's part of your business and if you can prove it can generate an income. If you then can handover some actual footage or pictures, it should be ok ... i guess ... :d
