Own or Lease

Cox8884 · Jan 30, 2004

Hi there everyone. This is my first post to the forum, and I was just curious as to whether everyone in here owns or leases their Ferrari. It seems like if you were to lease one, you could avoid some of the pricey repairs that come after 3 years or so. Also, for those of you who do lease, what kind of program do they offer you (miles and maintanence)? I am only 20 years old, but some day I will have a ferrari. Besides having the car as an asset, I just wanted to see what the advantages were to owning. I look forward to your responses.

Mike

Stradale · Jan 31, 2004

Lease?

We can't do that here. Sorry can't give you an opinion.

Cox8884 · Feb 1, 2004

Didn't realize the forum was limited to owners...Sorry guys.

Mike

Andrew · Feb 1, 2004

Cox8884 said:
Didn't realize the forum was limited to owners...Sorry guys.

Mike

What he means is you can:t lease in Singapore.

I;m not sure you can do it at authorized dealers either, Ferrari isn:t exactly a leasing item. Every three years you trade up? Don:t think so, there is a two year wait list for the 360.

Stradale · Feb 1, 2004

Correct me if I'm wrong. Leasing is what companies do to provide their execs with cars. I believe it is meant for saloons and not sports cars. We in this region can't do it, because the Inland Revenue will not allow sport cars as deductions as office expenses. I post in the context of what's possible in my part of the world.

Perhaps it can be done in the US where you lease from a Leasing Company and it will be a contract between the individual and the company, and certainly not with the Ferrari dealer. But why do that, if maintainance is your concern? Ferrari have 3-year warranty on their new cars, so maintainace is almost free if you buy them new. But if it's a used car you're going to lease then I can see the advantage. But the monthly 'rental' is so high that at the end of the third year the money you'd spent is more than the cost of the car. If you've bought the car, at the end of the third year, you would own the car. You'll have residual value that yis ours and not zero if you had leased.

Dermot · Feb 1, 2004

You can certainly lease them in the US, but with the current cost of money been so low why bother!! - Personally I always prefer to own, leases are fine where the car is going to depreciate rapidly (Not likely with 360) and provided you do not want to exit early from the lease (You will be "upside down" in the lease and end up paying lots of $$$ to get out of the lease)

Dermot

adlinyusman · Feb 1, 2004

well if you really want to drive a ferrari for a short stint, then why don't you just rent it for the weekend. You still get the thrill, and it won't cost you as much in the long run.

Dermot · Feb 2, 2004

adlinyusman said:
well if you really want to drive a ferrari for a short stint, then why don't you just rent it for the weekend. You still get the thrill, and it won't cost you as much in the long run.

Actually I think thats a really good idea for anyone who wants to drive a Ferrari 3 or 4 times per year and does not want the overheads of ownership (Maintance and potential depreciation) However, it's still a very costly exercise to rent a Ferrari (At least here in the US) so I would caution anyone considering this route to do the calculations carefully and check out all the "hidden" costs of renting such as liability insurance and damage deposits (Even a stone chip can leave a sizable dent in your deposit)

Dermot :

Stradale · Feb 2, 2004

When I was in LA, a couple or years ago, there was a red 360 for rental. I thought it was neat!!!

Dr. Bob · Feb 2, 2004

I Germany there is a company that rents an Enzo, 288 GTO, Challenge Stradale and so on. I can look the page up if there is any interest

stephen_paynter · Feb 2, 2004

send us the url dr bob

Dj Dirk · Feb 2, 2004

Dr. Bob said:
I Germany there is a company that rents an Enzo, 288 GTO, Challenge Stradale and so on. I can look the page up if there is any interest

you mean in switzerland

Dr. Bob · Feb 2, 2004

http://www.europeanferrarirental.com

Germany as far as I know, but I don't know that much...

mchferrari · Feb 2, 2004

There are a few exotic car rental agencies in Vegas that have Prowlers, and Corvette's and Viper's and 355's and 348's. It usually costs a couple hundred dollars to take it out for something like 100 miles.

Dr. Bob · Feb 2, 2004

well, that link I gave you also rents Enzo, and so on. Very expensive, but if you can't pay the whole car, well, you can rent it for a small fortune...

Stradale · Feb 3, 2004

Anyone game for this. All the exotics at the end of your credit card!!!

Maserati Spyder, Maserati Coupe, 348 TS, 348 Spider
355 GTS, 355 Spider, 355 F1, 360 Modena,
360 Spider, 360 Spider F1, Challenge Stradale, 360 Hamann F1
Testarossa, Testarossa Hamann, 512 TR, 456 GT,
550 Maranello, 575M F1, Lamborghini Gallardo, Lamborghini Diablo
288 GTO, F40, F50, ENZO

adlinyusman · Feb 3, 2004

you can rent an Enzo? wow. i guess the deposit alone can net you a 3 series Beemer.

rosed37 · Feb 3, 2004

$150.000 deposit plus $15000 a day ! :roll:

Dr. Bob · Feb 3, 2004

And I think one or two stonechips are the end of that $150.000...

Bart · Feb 5, 2004

My first and only Ferrari was purchase by a corporation for my use. It pays all the upkeep and taxes.

This, I think, is the best way to get a Ferrari.

Own or Lease

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