Cali T Cosed Ended Lease -- $1622 a month !

Problem is most people aren't going to want a "stripped" Cali T....with just reasonable, not crazy, options you will be North of 240. If it will be a DD you are also going to be around 10k a year. Truthfully, it's a good bait and switch tactic at $1600 per month which would be 911 money to get you in the store. Good luck!

 

It does present an attractive option to clean up any leftover 2015's. The '16's are being ginned up so a favorable finance program to let you drive the car a year or so will appeal to first time buyers. Low cash commitment could be allowing this program to be a gateway drug into something higher down the road.

 

Yes that is porsche money and cali makes better choice than tt cab as a weekend toy

Porsche should worry

 

$1,995 First month's payment
$24,000 Cap cost reduction
$2,000 Security deposit
$1,495 Acquisition fee
$29,490 Cash due at signing
Closed-end Lease financing available on new 2015 Ferrari California T from participating Ferrari dealers on leases assigned to Ferrari Financial Services through September 30, 2015. Lease is for a 60 month term with 3,500 annual mileage allowance. Monthly lease payments are $1,995 for 60 months based on MSRP of $239,766. Payment of $29,490 cash due at signing includes $24,000 capitalized cost reduction, $1,995 first month payment, $1,495 acquisition fee, and $2,000 security deposit. Excludes tax, title, license, registration and dealer fees that are also due at signing. Program is available from participating Ferrari dealers to eligible, qualified customers with excellent credit history who meet Ferrari Financial Services credit requirements. Payments do not include applicable taxes. All figures presented are examples only. Actual MSRP may vary. Lessee responsible for insurance and maintenance during the lease term and any excess wear and tear as defined in the lease contract, $1.75/mile over 3,500 miles per year and a disposition fee of $995 at lease end. Purchase option at lease end (excluding tax, title, and other fees) is $141,000. Offer valid through September 30, 2015. Visit your authorized Ferrari dealer for important details.

the interest rate is about 5.1% and the MSRP these numbers are based off is 239k

they also want 24k down payment at signing so the price really is 215k

it's an ok deal

 

3500 milage is not worth it. I would want 5k/yr

 

For a daily driver I would have to have 10,000 miles per year. Then it does not make sense to lease anyway!

 

fine print says $1.75 per mile over, it's a better deal to go for low mile limit and just go over it. the residual on the 5k miles limit is like a 7k difference

 

looking at residuals the 36 month is the best deal (239k -24k downpay is starting 215k price)

depreciation is 41k first year, 11k second year, 4k third year, 9k fourth year, 9k fifth year

 

Assuming you have good credit you are better off going to your bank on a 5 year auto loan which should cost you less than 2% in todays market. With the same down payment your monthly cost is probably around $3k a month, you have no mileage restriction, can sell the car anytime you want, and own it after 5 years

 

FYI total cost for my 2012 Cali was 238k taxes included

traded it for 185k about 2 years later so that's a 53k loss over 2 years (with 9000 miles)

their depreciation table is spot on

 

selling a Ferrari as a private owner is HARD! believe me i tried with my 2013 458 spider which was a perfect spec red/tan still under warranty

i was consistently lowest price on autotrader but no real bites for 6 months

i like the fact that closed lease you can walk away. i also like that you can single pay all payments upfront and get a 3% interest rate

 

Very interesting info, guess we take it for granted that Ferraris just sell..

 

Very surprised to hear that

But why autotrader and not just list it here??

 

Having your dealer sell it on consignment is fastest way.
It gets great exposure while on the show room floor.
The dealer wants a percentage for their efforts including advertising and the sales paperwork. Can run as high as 10% or low as 5% depending on sales price of the car. I'm not wild about the percentage cost but there are some advantages in that usually you have qualified people looking at it on the dealer's floor and the dealer handles all of the sales activities and appointments which comes in handy if you have a crowded schedule or travel a lot.

 

Be careful with large cap-cost reductions ... they lower the monthly payment but if something should happen to the car, the gap insurance may only cover the difference between the insurance settlement and the remaining money owed on the lease. Your $24k could be lost with the car, as it would if you had just paid cash and totaled it.

If the point of leasing is to free up your capital and know exactly how much the car will cost you to own over the lease period, put the $24k aside and dole it out month to month. You pay either way -- and should be able to make enough off the $24k to offset the interest.

Also, that seems like a very high money factor if you have stellar credit, based on the 5.1 percent estimate.

 

Yeah after looking at it again it's not a good deal. The 24k upfront is bad. If you remove it the monthly payments jump up considerably. The interest rate at 5% is also not optimal if you have good credit. 36 months is still the sweet spot in terms of this lease but I agree you can do better with financing or outright buying and gambling on resale yourself.

 

The closed end part is the good thing because if you get a bad car fax report or if the market really drops out because they over produce the Cali T you have that protection. 24k up front is crazy. That makes the payment artificially low. What if the car is a lemon or gets stolen or totaled early on? Yikes. That cap cost reduction is nuts to me.


Sent from my iPhone using Tapatalk

 

aston martin v12 vantage lease
$200k sticker
36 months
$2k down
$2k/month

that seems much better than calif lease for comparable car

 

The Astons are great cars but they are notorious for deep, early depreciation.
Much more than any Ferrari model.
This lease you describe seems too good to be true.
Is it closed end or open?
If closed end then they will fly out the door.

 

just got lease info emailed from long island sportscars

think its a traditional closed end lease. just give car back after 3 yrs

ends up being $74k paid over lease term. wonder what aston thinks they could sell it for after lease?

 

Always read the small print before you take out a lease. On a Mercedes I leased, it was cheaper to opt for the lower annual mileage and pay miles x per mile rate AND the mileage penalty you pay at the end of the lease!

On these California deals I think the upfront is too high and mileage too low.

 

Porsche don't need to worry because Ferrari will not build 10k cars per year.

 

They are making around 2.5k Calis this year. Around 25,000 911s... how many 911s are turbos? one in 10? Less, I am guessing... And how many are cabs? Maybe 25% of that number?

So more Calis than 911 turbo cabs. Right?

Don't see a lot of overlap in buyers though, since the turbo performance is more like the 488 or 458. I think it comps against an Aston or M6 or something. I could not imagine cross-shopping these cars.

 

soon all or almost all 911 will be turbo