The Truth About Leasing An Exotic Car
How leasing an exotic REALLY works and why it's the dumbest mistake you'll ever make...
Car hacking is a beautiful thing.
Once you understand how it works, there's no going back.
But before I reveal how my car hacking method works on the next page, I need to talk about leasing.
I've seen a lot of entrepreneurs want to own an exotic but don't want to look rent one and be exposed as a fraud.
Hey good on some of them for having morals...
But then they do the next worst thing, lease an exotic.
Leasing An Exotic (AKA Lighting Money On Fire)
Can you do me a favor?
Take out a $20 bill from your wallet and light it on fire.
Don't worry, I'll wait.
Ah couldn't do it, huh?
That's exactly what leasing is like.
You take your hard earned money, and light it on fire because you become seduced by the mouthwatering lease terms.
- “Easy monthly payments…”
- “Full warranty…”
- “You even get a tax write off...”
Don't get me wrong, I get the appeal.
Especially if you're an entrepreneur who's been dreaming about owning an exotic the last decade.
Why would anyone NOT lease?
Let me tell you a story of my friend Steve.
Steve leased a 2017 Lamborghini Huracan recently.
Beautiful car even though it wasn't the more desirable LP610-4 configuration (but that's besides the point).
Here's the exact breakdown of Steve's lease:
$10,915 (down payment) + $1,495 (bank fee) + $93,204 ($2,589/mo * 36 mo) = $105,614 Total Cost
But it gets even worse.
The fine print mentions an “end of lease purchase option” for $142,975.
Meaning after your lease term you get “first dibs” to buy the car for that price.
Sounds like a nice offer...
Until you do the math.
$105,614 in lease costs + $142,975 purchase option = $248,589 total cost for a car that costs $226,945.
So the dealership makes an additional $21,644 above the actual MSRP if you lease a car like this
And a LOT of people lease cars like this.
To top it off, don’t forget that most dealers put a cap on how many miles you can drive a car for during a lease.
In Steve’s case, he was only allowed to drive 3000 miles over 36 months.
That’s 83 miles per month that Steve’s allowed drive his Lambo...
Break it down even further and that's 20.75 miles per week.
Not to mention you can't even sell it because you're stuck on a 3 year contract.
It's just constantly depreciating.
Talk about the rip off of the century.
Tell me how that deal doesn’t suck?
Hopefully this math made sense and if it didn’t just read it again.
It’s pretty simple.
But bottom line.....
It might seem like the easier option at the time, but I promise it will come back to bite your a** in the future.
Summary: 7 Reasons You Should Never Lease An Exotic
- Annual mileage limits (who wants to just look at their car in the garage).
- Requires down payment (savvy investors know how to leverage their cash better).
- No actual ownership (all you have is a contract on the depreciation, it’s not your car).
- Unable to resell your car and recoup your money.
- Stuck with the car for up to 3+ years (cannot easily exit lease contract).
- You pay a premium to buy the car out of the lease.
- You cannot modify car (boring!)
Not too appealing, eh?
Now how does this compare to my car hacking methods?
Let me show you on the next page...
Copyright © 2020 Exotic Car Hacks. Legal Disclaimer
DISCLAIMER: The results stated above are my personal results. Please understand my results are not typical, I’m not implying you’ll duplicate them (or do anything for that matter). I have the benefit of practicing car buying for over 10 years, and have an established following as a result. The average person who buys any "how to" information gets little to no results. I’m using these references for example purposes only. Your results will vary and depend on many factors …including but not limited to your background, experience, and work ethic. All business entails risk as well as massive and consistent effort and action. If you're not willing to accept that, please do not continue.