Lease vs Finance for vehicles, school me.

[Aleks]

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I'm actually leaning towards this, primarily so I can keep more money in appreciating investments. I will have the finance folks run some numbers for me.

Has the finance bro done your numbers yet?

[Buster]

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https://kulumotorcar.com/cars/mclare...-mclaren-senna

Get off your wallet, this one's for you.

$9999/month + tax

24 Month In-House Lease

@ 4.99% APR

Serious Inquiries only
$1,525,000 + tax purchase price, $0 Fees
$525,000 + tax down payment
$852,450 Residual
Due at signing = down payment, first payment, taxes.
On Approved Credit

I promised myself no more black cars - too hard to keep clean.

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Don't halo cars like the Senna actually appreciate over time? It might end up being a good buy haha.

The group of halo cars that is appreciating has shrunk rapidly. Basically, the only Mclaren that is appreciating at this point is the F1 and maybe the P1 (although you're going to have to put their new fancy battery into it in the next or so at something like $300M, I bet).

The high-end manufacturers have fucked themselves by trying to monetize the phenomenon. McLaren especially, flooded the market with "special editions" that haven't sold. They didn't restrict Senna sales, so lots of the buyers flipped them.

Even Porsche and Ferrari have felt the pain. Porsche way overproduced 911 special models and prices are coming down rapidly. You can buy a 488 Pista below sticker already, and Ferrari dealers are calling people without a ton of "V12 points" to buy the 812GTS. We'll see what happens with the VS. Lambo doesn't really have a halo car ATM, but their SVJ wasn't that hard to get I dont think.

This guy does awesome supercar analysis. He's some sort of ultra rich oil dude from Texas and buys McLarens like they are candy - he's pretty active on McLarenLife. Hi blogs are well worth reading.

https://karenable.com/aston-martin-f...-2020-results/

https://karenable.com/mclarens-1st-half-2020-results/

[you&me]

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I'm thinking of leasing my next fun car. Anyone know where people go for 3rd party leasing? Canadians don't have the equivalent of Penfed or similar in the US...sucks.

Do you need it to be a "lease"?

There are lots of finance w/ balloon options, which are essentially the same as an open lease (and basically what Penfed, Putnam, Premier, etc do in the US).

First Calgary has an excellent product for this.

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I promised myself no more black cars - too hard to keep clean.



The group of halo cars that is appreciating has shrunk rapidly. Basically, the only Mclaren that is appreciating at this point is the F1 and maybe the P1 (although you're going to have to put their new fancy battery into it in the next or so at something like $300M, I bet).

The high-end manufacturers have fucked themselves by trying to monetize the phenomenon. McLaren especially, flooded the market with "special editions" that haven't sold. They didn't restrict Senna sales, so lots of the buyers flipped them.

Even Porsche and Ferrari have felt the pain. Porsche way overproduced 911 special models and prices are coming down rapidly. You can buy a 488 Pista below sticker already, and Ferrari dealers are calling people without a ton of "V12 points" to buy the 812GTS. We'll see what happens with the VS. Lambo doesn't really have a halo car ATM, but their SVJ wasn't that hard to get I dont think.

This guy does awesome supercar analysis. He's some sort of ultra rich oil dude from Texas and buys McLarens like they are candy - he's pretty active on McLarenLife. Hi blogs are well worth reading.

https://karenable.com/aston-martin-f...-2020-results/

https://karenable.com/mclarens-1st-half-2020-results/

Great post.

I have it on good authority that there are ~50 P1s laid up in the US due to battery issues. FNA has a warehouse full of LaFerraris waiting for battery replacements. Porsche has stayed quiet on the 918s for now, but the moral of the story is, stay away from the hybrids.

[ExtraSlow]

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Has the finance bro done your numbers yet?

Finance bro and I have time to get happy with the numbers. Put deposit down, but truck won't arrive for about 4 weeks now. I think they are wrapping up a bunch of august deals today and will be hassling me next week, which sounds fine. I have all the incentives and promotions and shit locked in.

[killramos]

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I'm thinking of leasing my next fun car. Anyone know where people go for 3rd party leasing? Canadians don't have the equivalent of Penfed or similar in the US...sucks.

Figure out whoever worked it out for Steve jobs to lease a new SL63 every 6 months perpetually.

[rage2]

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km allowance??

Unlimited. It's an open end lease so yea DGAF how much you drive it cuz you're on the hook anyways haha.

[Aleks]

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Finance bro and I have time to get happy with the numbers. Put deposit down, but truck won't arrive for about 4 weeks now. I think they are wrapping up a bunch of august deals today and will be hassling me next week, which sounds fine. I have all the incentives and promotions and shit locked in.

Congrats!

[adam c]

I did the CLA-250 lease that MB put on, it had advantages of being fairly low cost and I needed a 4 door with a new born as the coupe wasn't cutting it, even with getting the wear and tear protection, I still worry if it gets dinged or something else happens that I need to pay luxury repair costs on when I return the vehicle

If it weren't for Covid, I would have financed something else

[Buster]

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Do you need it to be a "lease"?

There are lots of finance w/ balloon options, which are essentially the same as an open lease (and basically what Penfed, Putnam, Premier, etc do in the US).

First Calgary has an excellent product for this.



Great post.

I have it on good authority that there are ~50 P1s laid up in the US due to battery issues. FNA has a warehouse full of LaFerraris waiting for battery replacements. Porsche has stayed quiet on the 918s for now, but the moral of the story is, stay away from the hybrids.

PM'd you on the First Calgary thing.

That's ugly for McLaren. I'm not surprised at all though. You could see the writing on the wall when those cars launched. One thing I despise about the electrification of the automobile is that they are turning into commodified electronic doodads like anything else. Even hypercars it seems. Imagine how awesome the LaF would have been with just their V12 pumped up with some power and no hybrid? OR if they had gotten as much power out of the V8 in the 918 as they could and left it at that? (Or updated the V10?!).

[Masked Bandit]

@Buster , earlier in the thread somewhere you asked about third party companies that will write leases on "toys". I've had clients use Travelers Leasing basically like a revolving door. Pick a toy, Travelers writes the deal, 18 months later they swap it out for something else.

[Buster]

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@Buster , earlier in the thread somewhere you asked about third party companies that will write leases on "toys". I've had clients use Travelers Leasing basically like a revolving door. Pick a toy, Travelers writes the deal, 18 months later they swap it out for something else.

Thanks, I'll call them. MY biggest complaint about toys is exiting them. The sales process is annoying. I might just start consigning stuff to kulu and be done.

[ExtraSlow]

Can't Shak sell them for you? I heard he does this now.

[The Cosworth]

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We are buddy.

don't call me buddy, guy

[Twin_Cam_Turbo]

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don't call me buddy, guy

I’m not your guy, pal.

[The_Rural_Juror]

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I’m not your guy, pal.

I'm not your pal, girlfriend.

[rage2]

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PM'd you on the First Calgary thing.

That's ugly for McLaren. I'm not surprised at all though. You could see the writing on the wall when those cars launched. One thing I despise about the electrification of the automobile is that they are turning into commodified electronic doodads like anything else. Even hypercars it seems. Imagine how awesome the LaF would have been with just their V12 pumped up with some power and no hybrid? OR if they had gotten as much power out of the V8 in the 918 as they could and left it at that? (Or updated the V10?!).

I believe the majority of the problems with the batteries is because they weren’t being used, and maintained improperly. I’m not sure about the P1 or 918, but the LaF has a setup for keeping the high voltage battery from running flat when the car isn’t used for extended periods of time. Most of these cars are garage queen investment cars, so I’m not surprised by the higher than average number of failures.

On a well used car, a hybrid system completely transforms the characteristics of the car for the better reliably. I wish my hybrid system was more powerful.

[Mitsu3000gt]

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I did the CLA-250 lease that MB put on, it had advantages of being fairly low cost and I needed a 4 door with a new born as the coupe wasn't cutting it, even with getting the wear and tear protection, I still worry if it gets dinged or something else happens that I need to pay luxury repair costs on when I return the vehicle

If it weren't for Covid, I would have financed something else

Buy it out and sell it privately when you're done. You will get way more money than MB will give you and most perspective buyers won't fuss over a door ding on a used car (thought I don't think MB would either to be fair unless it was excessive).

[Tik-Tok]

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Buy it out and sell it privately when you're done. You will get way more money than MB will give you and most perspective buyers won't fuss over a door ding on a used car (thought I don't think MB would either to be fair unless it was excessive).

It'll be tough to sell as a flood of over 100 CLA-250's hit the market at the same time. Speaking as one of those 100 Car2gone owners.

[Mitsu3000gt]

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It'll be tough to sell as a flood of over 100 CLA-250's hit the market at the same time. Speaking as one of those 100 Car2gone owners.

Oh that's right, good point. I'd guess it's still a bit better than the MB residual though.

[Waldi]

Lease rate is based on total vehicle sale price, so the only difference is lease rate vs finance rate. Since you most likely do not put deposit on lease (some minimum might be required), the residual value is the difference between total sale price - total amounts of payment (minus interest). So if you finance the rate is based on total sale price - deposit divided by term. Lease is good option if you have company and can write off this cost. Usually monthly lease payment will be higher over fiance due to the fact that you most liekly put some money down to reduce financial rate since you kind of own vehicle from the start. With lease dealer owns the car and you are renting with option to buy it for price (residual value) agreed at the time of lease start. So at the end the difference in your case will be 2.9% vs 1.9 percent, and on $50000 vehicle might be in the range of $500-600.