One of our team was recently took a liking to the 2017 Ferrari 458 with it’s stunning performance and quality of design. Of course this car comes at a whopping cost taking the best part of £200,000 it is not something you buy out of your post office savings. Even if you have to wait on the huge list to get your brand new 458. So he looked into some of the deals offered by Ferrari finance and found that they have a fantastic Lease Purchase deal currently on the market.
Now bear in mind that when you buy a brand new Ferrari 458 you will have a 4 year warranty and you will also know that they really hold their value so it can really be an investment. With a Lease purchase deal you will make regular monthly payments over an agreed amount of time and at the end of the period you will own the car by paying a final balloon payment.
How Lease Purchasing with Ferrari Finance works
So how does this really work? Firstly when you sign up for the lease purchasing you have to pay an initial deposit for the car followed by the monthly payments throughout the time of the deal. At the end of the deal the balloon payment often ends up being approx how much the car is worth at the end of the deal but it will take into account the mileage anticipate you will do and of course how long the agreement has been for.
This is a really good deal to take when buying classic cars and sports cars that you know hold their value over time and you will find that if the car holds its value then this deal is really more in your favour. Indeed most top end cars are bought this way.
At the end of the monthly payments you don’t have the choice to return the car or pay the balloon fee. However if you don’t have the money to pay the balloon payment you can then take out another finance agreement. I know a friend of mine who could only pay two thirds of the balloon payment so he got finance for the remaining amount. If you are thinking of taking out a lease purchase deal you will be expected to commit to 3-5 years but if you come into some money during this time you can settle the remaining amounts with no penalty fees.