Was that you flashing by in a Ferrari? Or was it your competitor, who leased it to impress new clients?
Leasing hot luxury and exotic cars isn't just for celebrities and athletes anymore. Entrepreneurs are discovering that driving their dream car--an Aston Martin, Bentley, Lamborghini, Maserati, rare Mercedes-Benz or even a classic collector car--has more business advantages than mere status.
"You can write the lease off as a business expense and keep your working capital for other investments," says Mitch Katz, president and CEO of Premier Financial Services, North America's leading exotic car leasing company. Sixty-seven percent of Premier's customers are company owners and CEOs.
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The PFS contract is a 60-month, open-end Simple Lease with a lower monthly payment than a standard lease and no mileage penalties. It also allows clients to switch cars within the lease period. Maybe a Lambo in the summer and a Bentley in the winter?
Typical monthly payments are $1,982 for an Aston Martin V-8, $2,391 for a Bentley Flying Spur, $3,024 for a Ferrari 430 F1 Spider and $3,268 for a Lamborghini Gallardo Spyder. Or try a 1956 Mercedes-Benz 300 SL Gullwing for $3,598 a month, or a 1962 Rolls Royce Silver Cloud for $1,373.
Other companies that specialize in leasing exotic and collector cars include Putnam Leasing, the leader in collector car leasing, and J.J. Best Banc & Co.. If you need an exotic for just one day to dazzle while closing a deal, check out Absolute Exotics in South Florida; Exotic Car Rental in Chicago, Houston, New York and other large cities; and Beverly Hills Rent-A-Car in Los Angeles.
Jill Amadio is an award-winning automotive journalist and author.
Originally published in the August 2006 issue of Entrepreneur Magazine