Gallardo Leasing Deals??

I wasn't aware that people leased cars like this.

 

It is my understanding that most new exotics are leased. Even most new luxury cars.

 

This is my first post...but I was over on lamboforums.com and Lamborghini of Orange County had an 04' Gallardo lease for around 1450 with nothing down I believe. I think it was stickered around 139K. The post is titled "purchase" but the terms look to be a lease.

http://www.lamboforums.com/forum/showthread.php?t=446

 

Why would someone lease an exotic ? Most will be very hard pressed to try a "write off" on such a car as a business expense. I once sold a car to someone that tried that, and guess what? A few years later two Treasury agents were looking at his entire life, and hauling him into federal court.
If you want the Gallardo, buy it.

 

I know of others who properly write off their car; it can be done and pass IRS standards.

The incorrect reason for leasing is because you really cannot afford it otherwise, and this puts you in financial danger. However, there are good reasons for someone with a lot of money to lease - primarily, you don't want $200k tied into a toy. Sure, buying cash might give many a sense of entitlement or accomplishment. If you're not tied to the material aspect of the vehicle and can part with it without emotional anguish (or too much emotional anguish), it may be better for you to have cash you can make more money with. It depends on how good you are at making more money with money.

I'm going to venture that the millionaire next door types who save and save and get a Ferrari at retirement don't lease, but there are a lot of people who are working and multiplying their money, for whom it doesn't make financial sense to lock up a lot of liquidity. Of course, even if you're good at making money with money, if you have piles of it, you might still buy the car.

Here's a thread I started on the arguments of lease vs. purchase: http://ferrarichat.com/forum/showthread.php?t=73629

 

this is true.

 

Those figures I gave you were TOP end short term lease as you asked....there are many other available........

First you need to know what car you want, what you want to put down, (if anything) and what you want your payments to be and for how long.......I can GET any lease anyway you want it...BUT only if I have the answers to the above questions.......

Another main advantage to LEASE is if you are in a SALES TAX state, if so then with a lease YOU only pay sales tax EACH month as you use the car not the HEFTY up front sales tax as on a PURCHASE>....

But the base of the story is I CAN GET you anything you want, just tell me where you want to be!!

Thanks Roy

 

This is definitely a purchase. Note the balloon payment of $105k at the end of the term.

 

Like previously posted. This is a purchase. Even with the ballon payment at the end, it is still a great deal.

$1445 x 36 months = $52020
plus the balloon of $105000.

You are basically buying a Gallardo for $157020, interest included.

Call Armen of LamboOC or Roytoy of CatsExotics, I'm sure one of those guys will be able to help you.

 

ANYONE BUYING A CAR THIS MONTH, (February) WILL GET FREE SHIPPING ANYWHERE IN THE USA!!!!!!!!!!!!!

 

Anyone really? Even if I dont buy it from you! WOW! Thats nice!

 

GOOD ONE...........Boy I need a dd pre-reader.......

Of COURSE bought from ME!!

Thanks for the heads up!!

 

Dang, I was buying a Daewoo from Hawaii. Thought all my problems would be over.

 

ha ha ha.........Oh and ONLY cars from Italy.....

 

1st rule of business. You buy things that appreciate in value and you rent or lease things that depreciate in value.

Figure it out.


Joe

 

Thats why I wouldnt buy a brand new anything because it just doesnt make sense. You get screwed on the depreciation, and you get screwed on resale value... Leasing if done properly is actually very good. I lease many daily(non exotic) commuters because it really helps my business and is completely applicable.. So, no problems with government, no problems at all.... Cuz honestly, most cars out there wear out their looks in a couple of years. so, unless i absolutely dig the design, I would much rather drive it and leave it.... Roy, what was the mileage cap per year you quoted on that g?

 

15K, there are all types out there, many can be customed tailored......

Depends what you want to put down, what you want to spend a month (rent), what you want to do at the end, HOW long you want to pay (rent), AND of course very important a GOOD credit score.......THE lower the score, the more down and the higher (rent) and shorter term......

ALso can get a greeat deal if the dealer your buying from GAURANTEES the lease company a BUY BACK figure in 1,2 and 3 years......

Not a lot will do it, but it does work, I do do it from time to time depending on the car....

 

From the other board

Okay, pardon me for being a little slow on the draw, but what exactly does one do when that balloon comes up? Pay it off, sell it back or refi it? This isn't too crazy of a deal for a guy like me, but that balloon payment thing frightens me. Probably a moot issue since I live nowehere near OC.

What kind of FICO do they need for this rate? 720+? Anything else?

RMX

 

i was also wondering about the baloon payment, and if it was like a PCP type thing where you have the options you stated [give it back, re-finance, or pay it off in full]

 

Man a gallardo for $1400 a month! sheesh that isn't bad, how many miles a year do you get with that term?

I like what ItalianCars said......buy what goes up and rent what goes down! I knew this but hadn't put it into words.

 

since its a purchase im guessing miles arent an issue.

 

roy,

pm sent

 

i bought my 360 from mike at domani, he's a tough business man, but i am satisfied with the whole experience, they DO HAVE a **** load of ferrari's and gallardo's and the finance programs (TO BUY) for in that price range...check them out.

 

Many dealers have a high volume of leases. Fletcher Jones Mercedes near my house is I think the #1 benz dealer in the world. They got this last year like 600 million and a salesperson told me they do about 70-80% of sales in leases. Many people don't like keeping cars, 1-2 years seems to be the lasting time around my area...