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Lease or Buy an Exotic Car?

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Lease or Buy an Exotic Car?

Lease vs buy exotic car bentley

Lease or Buy an Exotic Car?

The debate of lease vs. buy is long withstanding and in the exotic car world, it is even more hotly debated. Buying is typically associated with high monthly costs, but a buyer owns the asset at the end. On the other hand, a lease typically allowed borrowers to have more buying power, but some get lost in the cycle where they never own the asset. Let us test this simple narrative about lease vs. buy to see which one is really the cheaper option at different points in time.

By the Numbers: Lease vs. Buy Exotic Cars

The example vehicle is a gorgeous white 2018 Bentley Flying Spur at a cost of $134,995. We are pitting Woodside Credit’s lowest monthly payment against an online lease. The lease requires tier 1 credit and a residual value (buy-out) of $65,000. The Woodside payment is based on a simple interest loan at 7.50%. Both require the same money down and tax is calculated based on buying type.

Advertised Lease Woodside Credit Loan
List Price $134,995.00 List Price $134,995.00
Tax 6.00%

(included in payment)

$97.32 Tax 6.00% $8,099.71
Down Payment $30,000.00 Down Payment $30,000.00
Length of Term 60 Months Length of Term 144 Months
Financed amount $113,094.70
Monthly Cost (tax, title, license included) $1,719.32 Monthly Cost $1,197.57
Monthly Net Savings     $521.75

From a monthly perspective, the loan cost is significantly less per month. With a difference in payment of $521.75, the savings of going with a loan versus a lease over 60 months amounts to a staggering $31,305.00. Do not forget, those monthly savings can be invested into other interest accruing accounts. What happens if you want to buy out the vehicle from a leasing perspective and pay off the loan? See below for the comparison.

5 year Comparison – With ownership
Advertised Lease Woodside Credit Loan
Total Payments $103,402.80 Payments (first 60 months) $71,854.20
Down Payment $30,000.00 Remaining Loan Balance $77,909.47
Residual (buy-out) $65,000.00 Down Payment $30,000.00
Tax 6.00% $3,900.00 Tax 6.00% (from original purchase) $8,099.71
Total cost after 5 years with buy-out $203,297.80 Total after 5 years with ownership $179,763.67
5-year Net Savings     $23,534.13

Still, another staggering difference of $23,534.13 to own the vehicle after 5 years. Savvy customers of Woodside know this sweet spot and minimize costs while maximizing their investment.

What is the verdict: Lease or Buy an Exotic Car?

From every perspective in this example, buying with a Woodside loan is more compelling than leasing. When it comes to vehicles of this caliber, leasing does not necessarily mean more buying power as most would suggest. Depending on how long you plan on keeping a vehicle will give you insight into which loan type is best for you. Ready to crunch the numbers on your dream car? Start with a quick quote. (Credit is not reviewed, and no credit check is required)


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