Exotic Car Lease - Dyer Consequences

Tim Marrs

Unlike Audi, a relative behemoth, the niche car companies don't run their own lease programs. So, how do you lease a Ferrari? You talk to a guy like Mitch Katz, CEO of Premier Financial Services, a company that writes exotic leases. "We have one car out there that's being leased for $40,000 per month," Katz says, declining to reveal what sort of car goes for that chunk of cash. I tell him I'm looking to spend somewhat less than that.

"It's not uncommon for us to hear, 'I want to spend X amount per month,' " Katz tells me. "Some people have good credit and a good income but don't have $200,000 sitting around." That's me to a T, especially the part about not having $200,000. Since I'm taking a shine to the dulcet tones of the Lambo V-10, I ask Katz how much it costs to get into a Gallardo - even a used one. "Well, we have a 2004 Gallardo with E-gear that's going for $1492 per month," he says. Wow. That's a lot of money, certainly, but not as much as I was expecting, given the R8's tariff. "But," Katz adds, "that was with a $26,000 down payment." Oh. With a more reasonable $6800 down, another Gallardo costs its driver $1970 per month.

"We lease a lot of Ferrari 360s and 430s, a lot of Gallardos," Katz says. "With Aston, it's the V8 Vantage and DB9s. Less frequently, we do Rolls Phantoms. But for $2000 per month, there are a lot of exotic and vintage cars."

That's good to know. Because with Wall Street's recent meltdown, I think I might be able to persuade my wife to move our money into something less volatile. The market goes up and down, but you always know what you're getting with a nice Gallardo.

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