Vintage car leasing misconceptions

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Vintage car leasing misconceptions

For many highly coveted occupations, one of life’s greatest rewards for the profession’s long hours and high-stress levels involves sitting behind the wheel of a Ferrari, Lamborghini, McLaren, Porsche, or other exotic, vintage or luxury car. Additionally, for retirement, driving a luxury or vintage car can be a great experience as you enter into that relaxation stage of your life. Whether you use that car as a daily driver, or for an occasional country road excursion on weekends, most people who are serious car enthusiasts are less interested in the prestige of ownership, and more passionate about the visceral experience that those cars deliver. At Pfaff Leasing in Calgary, Vancouver, and Toronto, our clients can find a high-end vintage car to lease. There are many benefits that can be experienced with leasing a vintage car, but there are also a lot of misconceptions as well. In this article by Pfaff Leasing, we share some information about a few of the misconceptions about leasing a vintage car. 

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Leasing a vintage car is only for people who can’t afford to buy one

This opinion is often driven by ego, rather than financial realities. The ability to avoid writing a large check upfront for sales tax in most states, for example, is just one of several reasons why many high net worth owners, who are capable of easily paying cash for multi-million dollar cars, prefer to lease rather than purchase.

Leasing locks you into ownership for three to five years

This might be true for a traditional lease arrangement through dealers such as BMW or Audi, but leasing of exotic and vintage cars is a unique type of business that operates differently from mass-market lease providers. In fact, because most serious auto enthusiasts prefer to change cars every two-three years, lease arrangements are tailored to address that need.

Leasing is only meant for new cars 

In fact, in the exotic and vintage car world, leases are written on previously owned cars more often than they are on new cars. These transactions are very simple: the leasing company purchases the vintage car the buyer has selected, and then structures a lease arrangement that meets their financial needs, in terms of down payment, lease payments, the car’s residual value, and lease termination.

If you are at the stage of your life where you want to acquire that vintage car you have always dreamed about, then why not lease it with Pfaff Leasing? For more information about this, we encourage you to get in touch with a Pfaff Leasing representative in Calgary, Vancouver, or Toronto.

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