Leasing a Ferrari in canada... good idea?

your going to have major problems leaseing an f50, wow you can afford a Ferrari lease at 19! I thought I was doing well for my age.

 

Oh God...

Please do NOT forget your thread from a while back.
http://www.ferrarichat.com/forum/showthread.php?p=136612852#post136612852

No one here will EVER take you seriously kid.

 

Todd any suggestions for this gentleman. I am still laughing my azz of at his other thread and I can't type straight.

 

As soon as I saw F50 I was like oh god,,,since we all Know this is not going to happen, but yah....what do you drive right now? not to mention good luck getting a lease for a car like that at 19.

on a side note, why don't you go to your ferrari dealership and see about leaseing a 308 first, then we can talk f50. or maybe you can try going for an Enzo! it's not that much more per month

 

You will need 10K a month...if you can stomach that, then you have half a chance, but the key question is, there is no fiance company that will risk a 200/300K ferrari without a major down stroke, with a high % mortgage, and then have fun trying to get insurance.
To answer your question, it cannot be done.
You are not the first smart kid to think like this, but the reality is, it wont happen.
PS...f50s were not allowed into Canada and they are not 15 yrs old yet, so there is no chance for an f50 even if you had 1M dollars to blow right now.

 

(I can't believe I'm wasting my time)

Do you have $50k cash right now for a down payment? Can you afford $4,000/month? Can you afford another $1,500/month for insurance? Another $800/month for gas?

You then MIIIIIIIIIGHT be able to afford a 360... but you still have to find someone willing to lease you the car. On the off chance that your cash flow will support this, congratulations. Now I would suggest you do something worthwhile with this head start you have in life, like buy some property, invest, make money with this money. I remember when I was 19... a Boxster S was plenty of fun!

 

leaseguide.com will give you the $'s, but remember that

1) any leasing company will want a hefty down payment and low residual
2) will require substantial insurance, with likely some ugly limitations (like only people with 10 years driving experience can drive)
3) will require everything signed by your Dad - as your credit is negative in their eyes
4) will want high interest rate to offset their risk, an F50 is a used car and depreciating fast to any lease company.

cheaper to buy something nice outright with your downpayment than enter into a dead-end off-ramp.

I remember many years ago that a leasing company refused to lease my Dad a 5.0 Mustang, because they knew he had a teenage son. so good luck with that F50 discussion

PS: please share your results!

 

removed?

 

Damn.

We'll It was called "What i did to this ferrari owner..."

And his first post went something like this...
______
Okay this is a while back... I'm 18 years old ( i was 17 when this happened) and I went running at midnight at my highschool with my best friend and on our way back we decided to have a freezee @ the corner store. Then an f40 pulled up in front. the license plate said florida. okay now im a pretty big jackass =) so i hopped into my daddy's lexus and blocked his car hahaha.... mind you there were no other cars in the parking lot besides our two cars. then on his way out i said "hey nice car. wanna race?" the dude looked like he was in his late thirties... and u should have seen his face hahahahaha. priceless. He must have been chicken because he didnt wanna race the lex. But he said he was from florida.... so i guess that means he drove that car all the way from florida to Toronto... What would you have done? I actually found out that his brother lives 20 seconds away from me and that my in laws are right across the street from him... if i bump into him what should i do? I need to race this guy. teach him a lesson "
______

Then as you can imagine there was alot of name calling after that LOL. i'll try to unlock it. It's too much and it's been kinda moring around here too. And Tom I know how much you love these threads!

 

http://www.ferrarichat.com/forum/showthread.php?p=136612852#post136612852

It's been merged with off-topic. See post 3655 and on. LOL

 

BWAHAHA hahahaha <breathe!> BWHAHAHAHAHAHA hahahahahahaha hahahahahahahahaha!!!!

bet the F40 was really a Fiero with a wing (sorry Phil - nothing negative to Fiero's, but this is your competition)

 

You could buy a new Lexus, or you could buy something fun. A Lexus, sorry, Lex, is about as far at the other end of the spectrum from a Ferrari as it gets.

 

hahahahahhahahhaha. Sorry Im still laughing at this thread. I need a breather.....ahhh


OK. Well ummm ya it probably was a Fiero. I bet this stupid kid couldnt even afford a Fiero.

Let me rephrase what this kid is probably wanting to find out.

"What does it cost to lease a Ferrari? I am just curious, I dont plan on actually doing it?"

That sounds a bit more logical. Why waste peoples time claiming you are going to lease a Ferrari when clearly you are not.

 

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I am no pro when it comes to Ferrari but I am pretty sure anyone can memorize specs. As for the 50k a year, what did you expect? You are comparing a super car to a Lexus. I am around your age and I have several family members that have exotics. Frankly, I don't think you could even get into a lease since you said that its your parents that paid for cars and not you. Just live like the rest of us and get these cars when you can afford them, but even more importantly, when you are passionate about them. Imagine how it would feel to be at a stage in your life when you can afford such a car but the said cars have been crashed by irresponsible teenagers.

 

you can't lease an "old Ferrari" anyways. and you want a new F-car? F50 is +10 years old now...

EDIT: wow, it's that idiot again. why did I waste my time reading that BS?

Can a mod PLEASE ban him already...?

 

signs of brain activity! there's a reason people buy Fcars after buying a house, after having a DD or two, and getting their lives in order. It's a toy that costs a lot of money to keep on the road. We haven't even discussed maintenance yet (could be cheap, or could be as much as a used Lexus: yearly). That's all money down the drain. $50k down (depreciation in advance - consider it likely gone), $50k in lease payments, $18k in insurance, given it's your first, say $10k in maintenance, plus $5k in consumables (gas and tires and oil).

Slow down, start with something that's not going to kill you (or worse, someone I know). I know, it sucks, but the laws of physics apply to Ferrari's, trees and fences still hurt. Just knowing they're special and memorizing the magazine tests fabrications isn't a good place to start. You didn't pick your g/f because of a statistic and a magazine said she's special. Or maybe you did?

Oh - and you're only 5,218,392nd guy who's come on to Fchat with the same opening line. Although the F40 and F50 bits are an entirely new level of insight! For that - I thank you.

I don't believe for a second you've got access to the $'s to do it. But feel free to prove me wrong

 

well, actually it is possible. It just costs more, is subject to more scrutiny, and requires working with a leasing company that understands that a ten year old Ferrari isn't depreciated like a 10 year old Toyota. I leased my 348, for instance (not to get into that discussion of lease vs cash!).

Back in 1987 I was talking to a guy who had a 288 GTO (Willow Springs Racetrack - I've got to find those pictures) and the only way he could get insurance for it was:
1) attached it as a condition to a business deal with an insurance company
2) never let it out of his sight once it left his garage
3) or was always locked up in his garage, likely alarmed.

He had a fully enclosed semi transport for her (and bought it list price. wow..)

Try doing that as a 19 year old kid with an F50, I'm bummed that we're not going to hear the ongoing saga about the insurance requirements from the leasing company

 

I have to close this thread, im getting stupider by the minute for actually reading this.