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For Sale Lease transfer: 2019 McLaren 720S Performance Coupe - Azores Orange

Discussion in 'Other Cars' started by rav1up, Sep 12, 2019.

  1. rav1up

    rav1up Rookie
    Silver Subscribed

    Feb 20, 2018
    3
    Hello All,

    I'm looking to transfer lease of my like new, no stories, 2019 McLaren 720S Coupe.

    MSRP $348,350

    Performance spec, Azores Orange exterior, Orange & black (Scoria grey) alcantara + leather interior, 10 spoke super lightweight forged stealth wheels. Full spec sheet attached.

    My lease contract:
    5K miles a year
    47 months term
    $42K down
    $1975 a month + taxes as applicable.
    Lease start: End of June 2019


    Current lease state:
    Starting miles: 101
    Current miles: ~1250
    Miles remaining: ~18,433 (~420 miles a month)
    Payments remaining: 44. Will pay for Sep-Oct also, that makes months remaining to be 43.

    Asking:
    Lease transfer + $38K cash.

    Please PM me for any further details.


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  2. ross

    ross Two Time F1 World Champ
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    Mar 25, 2002
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    Ross
    my favorite macca color.
    well specced.
     
  3. plastique999

    plastique999 F1 Rookie
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    Nov 9, 2008
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    Edward
    Essentially your taking $5k off your deal to transfer your lease?
    What’s the residual and MF?


    Sent from my 16M
     
  4. absent

    absent F1 Veteran
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    Nov 2, 2003
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    mark k.
  5. YellowMurci

    YellowMurci Formula 3
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    Mar 17, 2005
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    Harry
    Why do you want out of it?
     
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  6. P_RSR

    P_RSR Karting
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    Feb 25, 2014
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    Michael
    Good luck. I think you will need to take a much bigger hit to find someone for this. If you do decide to, I may know someone interested.
     
    twist-a-grip, Yassa, Shark01 and 3 others like this.
  7. INTMD8

    INTMD8 F1 Veteran
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    Jun 10, 2007
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    James Moran
    Can't speak for the OP but I would have a hard time parting with 135 thousand dollars to drive 100 miles a week, only to then return the car at the end of 4 years.

    May just be a difference in perspective or the lack of situation/accountant capable of writing it off.
     
    vrsurgeon, Yassa, HOF Ferrari and 3 others like this.
  8. Piper

    Piper Two Time F1 World Champ
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    Jun 6, 2010
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    Bob
    That's just 33% off MSRP in four years at 5k miles a year if I read correctly? That's pretty reasonable, maybe very reasonable, for the new car exotic buyer.
     
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  9. rav1up

    rav1up Rookie
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    Feb 20, 2018
    3
    Adding some more details:
    Residual value: $193,748 (56% of $345,980 - car was punched, hence the lower MSRP calculated by Ally)
    Effective APR: 3.99%
    Excess miles charged at $1 per mile.
    I havent found out the buy out price, will do so in a week.

    My usage:
    This is effectively my only car (other than my wife's car). It is my daily driver (15-20 miles a day).

    Reason for getting out of this is personal - nothing related to the car.

    I understand the offer may seem poor when compared to what I started with. But what I started with was significantly better than what anyone else could find at the time (havent researched the current state of new leases though). Especially because this translates to effectively $2840 / month with $0 down and 5K miles a year. Not in a hurry, so I'll wait it out before offering up more money. Thanks for the tip though.
     
  10. Simon^2

    Simon^2 F1 World Champ

    Oct 17, 2005
    11,541
    At Sea Level
    What does that mean?? This does not sound like a "no stories" car. Details?
     
    gt1995 likes this.
  11. Gh21631

    Gh21631 F1 Rookie
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    Feb 24, 2011
    3,494
    East
    I believe it is referring to when the car went into service.
     
  12. pateljb

    pateljb Karting
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    Sep 18, 2004
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    Xray
    When manufacturers "punch" the car (aka warranty on the car begins) they offer cash incentives to the dealerships to unload the cars at a signifigantdiscount. Bentley does this all the time starting in Sept/Oct on a yearly basis.

    In NJ, I have seen many Macs driving around with temp tags on in the last 2 months with ridiculous lease deals. A guy I know got a brand new 2019 570S spider for $2k/month for 42 months with zero down with 5k miles/year.
     
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  13. Simon^2

    Simon^2 F1 World Champ

    Oct 17, 2005
    11,541
    At Sea Level
    Thanks for the info. Never heard that term before. Is there any reason a dealer would "punch" a car other than to use it as a loaner / demo?
     
  14. Natkingcolebasket69

    Rossa Subscribed

    Same here. If only lease a car through pfs that’s appreciating or had hit bottom. This is silly, only get it if u can offset through taxes or something (business usage)


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  15. Simon^2

    Simon^2 F1 World Champ

    Oct 17, 2005
    11,541
    At Sea Level
    IMHO,... I think the 4 year cost is on par with other new exotic car ownership costs. Depreciation is brutal. Significant sales tax saving on lease value vs purchase cost. And possible significantly more advantageous business expense write-offs...

    Leasing can make a lot of sense in the proper setting... But getting out of a lease contract can be expensive!
     
  16. Piper

    Piper Two Time F1 World Champ
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    Jun 6, 2010
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    Most cars depreciate a third in the first year. Exotic depreciation is only brutal when your bank account doesn't have the extra zero the MSRP does.
     
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  17. P_RSR

    P_RSR Karting
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    Feb 25, 2014
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    Michael
    You have to realize you are trying to lease what is now a “used” car. If you owned thisy, you would be taking a much bigger hit than this. The Re-lease deal should reflect this. Try getting rid of the down payment and you might have better luck.
     
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  18. P_RSR

    P_RSR Karting
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    Michael
    From what I am seeing, used 2018/19 720s cars seem to be around 100k off sticker. So if you could get out of this and only lose your $42k down payment, you would actually be doing relatively well.
     
  19. Natkingcolebasket69

    Rossa Subscribed

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    I guess this is isn’t that bad of a deal when u look at this offer from the collection in Miami


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  20. P_RSR

    P_RSR Karting
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    That is a new car, imo a better specification, higher msrp, and less money down.
     
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  21. Natkingcolebasket69

    Rossa Subscribed

    Ageeed but I guarantee that through pfs or Putnam they will sill want way over 2k a month to lease his car. I do think OP might still want to get rid of some of the DP but not bad offer


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  22. stardoc

    stardoc Formula Junior

    May 5, 2005
    590
    The big oven
    Full Name:
    K RA
    Higher lease payments are actually "a good thing" compared to higher down payments, when offsetting income for a tax write off. You essentially can kiss goodbye any money down on a lease with no ability to recoup on your returns. This deal would have been much more enticing with a higher lease payment and much lower deposit.
     
  23. Simon^2

    Simon^2 F1 World Champ

    Oct 17, 2005
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    #23 Simon^2, Sep 16, 2019
    Last edited: Sep 16, 2019
    The Collection ad supports the OP's deal is at least good offer.

    5000 miles/yr vs 2500. $1975/mo vs $2998. But 38k down vs 30...

    For someone looking to lease a Mc720S, it's worth consideration.
     
    Natkingcolebasket69 likes this.
  24. P_RSR

    P_RSR Karting
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  25. P_RSR

    P_RSR Karting
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    I don’t think this deal looks very good. Neither does the deal from The Collection. Miller is offering a similar deal with 0 down.
     

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