people are jealous, thats alll it is.
So, with many exotic cars, they give you a sheet of 3 to 5 options of ranging from $0 down to $X down.
When you simply calculate the Total Out of Pocket (TOP) on each deal SOMETIMES, you will see a sweet spot where enough is put down to decrease their overall “risk” in the car and the MF adjusts slightly and/or certain “mandatory fees” automatically drop off like an acquisition fee.
On this deal, I calculated it was $3400 cheaper for me to pay $30K down, so I went ahead and said put the entire Vette towards it and get my payments to $900.
This also has a secondary benefit as I run it through my company as an “Acura”. IRS raises eyebrows over $1000 a month, hence I paid down enough to get the entire lease payment written off.
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Perhaps, or maybe just sticker shocked, as never did I ever think I could even come close to leaning up against some of the cars I now own – so I get it.
And yes I asked for thoughts, but no need to be sarcastic, terse, unhelpful, and trolly right?
I mean there is away to make good points, as I see many have.
I was kinda taken aback myself.
I posted asking for help 18 days ago, got nothing.
Found this deal, met the 1% mark for exotic cars, got me out of a tough trade in, and got plenty of extras, options, freebies.
I posted to let people know what the 19 NSX could be had for.
$20K incentives
$8.8K dealer discount
54% Residual
10K miles
Was not trying to be a dick, show off, or anything of the sort
Yeah, I hope the 2019 is far improved from the issues that I hear 2017/2018 had.
You make a very fair point.
Under the hood, I had a huge problem with my Stingray (low oil rear diff issue that blew), it was out of warranty, and the ECS supercharger was not boosting as much as advertised, not to mention the tires needed to be renewed. So instead of dumping $10K into 1 2014 with 14K miles, I got this supercar under warranty.
My fingers are very much crossed, and I get what you are saying.
As far as lease at 30K miles. That’s no issue at all. Last year, my household drove 150K miles. I won’t get into why, for fear I will be name called or trolled. But it’s for fun, work, family, etc.
Main Cars that will get the mileage shall be
Karma Revero
Acura NSX
Lexus NX (shared by my 2 teenaged kids)
Tesla X
Other cars will be used for fun as events come up etc.
Iron Gunner,
Thank you.
Km Dukez,
Thanks. Yes, exactly.
You expect to pay 1/2 the value of the car for a 36months, 30K lease on an exotic if not more.
Here I am paying a third.
If I bought it, they would give it to me for $140K, in 3 years I would be lucky to sell it for $70K to someone privately, after all the hassle. Instead, I am paying $64K and its guaranteed to be out of the garage.
I also got all end of lease fees to $0, excess wear and tear covered, rim/tires fully protected, and my $900 payments are fully tax deductible.
Someone spoke of the 1% of MSRP rule. It met that threshold as well.
I bought my McLaren cuz that was a better deal then leasing.
2016’s had no difference from 2018’s
Got $70K off of MSRP for a car with 3K miles on it.
$160K paid.
The Huracan Spyder was an 2018, while 2019’s were knocking on the door, so I got a significant deal lease wise - so I leased that one.
On some exotics, you can get a true conventional closed end lease with close to 0MF, in fact, my Karma Revero was literally MF = 0. That means free money, 0% interest. So that on too, better to lease.
And here’s the rub… At the end of the day he’s really not paying anything for it. If anything, he might even be making money allowing people to use some of those 10k miles a year, if this is anything like his Delorean situation. Sounds like he got what he wanted for a payment that suited his purposes, and got out from under a car with some problems. Anyone here follow Michael Fux on Instagram or other social media? He’s an old man who is rich as all hell, he’s got an incredible car collection in some of the most hideous colors inside and out that you’ll ever see. He’s got no taste at all but he’s living his life and having a blast. The haters online are hilarious. Sure, his CHROME wheels on his Senna are an embarrassment, but we all know that the vitriol comes from the fact that he’s got one and they don’t.
I am terrified to post any pics, but my cars are not chrome wheeled Senna’s. ;-). I like to think they are real nice examples. Where you live? close to South FL?
Although I would take a pepto bismol colored Senna, lol.
At the end of the day, few of my cars appreciated (SLS Gullwing, Classic Vette, Custom Jeep, c10). What I usually hope for is breaking even through tax deductions, usage to others, or at worst, yeah of course I have taken a beating here and there.
I have no mortgage, no other debt, so my big ticket item is my auto costs. Its why I still work. Idk, thought it was cool to work for fun things, instead of retiring and sitting around
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Did you start your own company? I am just curious’
I’m in Jersey, which apparently Fux is too for half the year, the rest of the year in Florida. I’d love to see his Senna in person one day.
Whenever in FL, lets meet up. I can get you into the Dezer as well. But mine are more fun, cuz we can drive them.
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Yes out of necessity in 2005.
Since then have done a consulting spin off and 3 more companies.
Plenty of side gigs that ended up failures
DM sometime.
Don’t mind the typical haters on the forum. They like to belittle people that don’t spend every waking moment on this forum, as well as those that are successful.
Congrats on the NSX! Looks like a great deal to me, and as long as your covered with insurance, who cares about the down payment. Using tax laws to your advantage is part of the reason I’m sure you’re so successful. Typically people with lots of assets have proper insurance coverage, I’m sure you’re no exception.
Where in south Florida are you? I’d love to come check out your collection sometime! I have a house in Fort Lauderdale, so I’m typically down there every couple weeks.
Naples - Sarasota - Miami Beach
I agree wholeheartedly that paying 1/3 of MSRP over 36 mos for an over $100k sports car is great deal. Congrats on the car and the deal!
Thank you sir. And guess what 650 miles on it already and now total losses either.
Guess I really DO drive it, and can enjoy it, and not wrap it around a tree or fall over a bridge.
lol.
I am very happy with the deal, and so far (early) the fit, finish, form, and function of the car is on point.
I put $3,500 up front on my ‘18 M3 which most here frown upon but, I am uninterested in paying interest and/or sales tax (in some cases twice) on registration, the first payment, and sales tax.
Here’s the deal on total losses and leases… if the residual plus remaining payments is less than the insurance total loss valuation, the insured will be mailed the difference by the bank. My buddy is waiting on a $7,xxx check for his 2016 M3 from BMW FS that was totaled last month. It isn’t as cut and dry with losing your upfront money as most here think. So stop worrying about other people putting money up front. If you don’t want to, that’s fine but, there is more than one way to do things. The total cost of the deal is what REALLY matters. With that being said, I wouldn’t recommend putting serious money up front on an at or close to MSRP deal though because you’d probably lose that money unless it’s like a Porsche 918 lease or something like that.
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Hey bud congrats on the car, she’s a beaut. I’m disappointed by those with shitty post as the numbers look decent and I’m sure you got your butt covered insurance wise.
I don’t see someone saying that they have 25 cars as a humble brag, that’s more like a car nut giving into his addiction. I plan on doing the same thing when I’m ready. If you’re ever in SoCal, I have a Guilia and a F-Type if you want to play tag in the canyons.
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