Can’t Afford to Buy a $3 Million Ferrari Enzo? Lease One Instead
“It’s a cash management tool,” Mr. Reed said, “except these guys like a lot of cars.”
Richard Koppelman, president of Miller Motorcars, which sells exotic brands like Bugatti, Pagani, Aston Martin
and Rolls-Royce in Greenwich, Conn., said a common misunderstanding about leases for exotic cars was that a sign-and-drive program was available.
The lease allowed me to have the car.”
Today, Mr. Ceno has a collection of exotic cars worth millions of dollars, and far more than the hundreds of thousands the cars initially cost.
“And if you go to the bank, no one is giving you a loan like that on a 1958 car.”
He said a typical lease from his company for a car like that would be five years, with $1 million down and monthly payments of about $20,000.
Mr. Posner said a typical five-year lease on a 2017 Pagani Huayra, which costs $2.8 million, would require $1.5 million down.
Other than a monthly payment equal to the total cost of many new cars, one big difference between customized leases
and manufacturers’ leases is what happens to the car at the end of the lease.
But as his interest in collectible supercars — so called
because they are the fastest of the fast — outpaced his capacity to pay for them, Mr. Ceno found a way to have his dream cars: He leased them, even though they cost hundreds of thousands of dollars, and sometimes millions.
