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Revscene Spotted Spotted Revscene Members all across town
Did you happen to see a Revscene member or a car with a Revscene sticker on the road or somewhere? Or happen to see a car of interest that you'd like to share with pictures? Post it up here!

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Old 03-13-2013, 09:43 PM   #12301
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You'd be surprised how few people are leasing their exotics.
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Old 03-13-2013, 09:54 PM   #12302
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You'd be surprised how few people are leasing their exotics.
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Isn't that where Miles End gets their business though?
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Old 03-13-2013, 09:58 PM   #12303
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I'm not sure about miles end.
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Old 03-13-2013, 10:45 PM   #12304
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Jing, not really. Most people buy them
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Old 03-13-2013, 10:51 PM   #12305
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Once again, I don't understand why many label the exotics in LA (and Vancouver for that matter) as "leased"... They still cost anywhere between $2,000 - $3,000 per month (if we are talking about USA here, even more in Canada) depending on the downpayment. To be able to shell out that much per month is still "uber baller" in my perception of the world.

Besides, I honestly think that the only reason these people lease cars like these, is so that they can easily get out of the car they are driving at the moment and get into something new and exciting once it comes out. They obviously could care less about lease termination fees and penalties.
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Old 03-13-2013, 10:57 PM   #12306
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Actually w6sta explained leasing on exotics when he had his Lambo. It's not your typical lease because I think you have to buy out the car at the end of the lease.
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Old 03-13-2013, 10:59 PM   #12307
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Jing, not really. Most people buy them
my friend does the insurance for companies like MCL, Vancouver Ferrari, Porsche, 89% of the people are Leasing them. tax write offs, cheaper payments, not dealing with expensive major services and having the current models are the benefits of leasing.
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Old 03-13-2013, 11:18 PM   #12308
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I don't usually double look at cars, but those McLarens are beautiful!
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Old 03-13-2013, 11:47 PM   #12309
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Actually w6sta explained leasing on exotics when he had his Lambo. It's not your typical lease because I think you have to buy out the car at the end of the lease.
That's correct. It isn't your typical BMW, MB, Audi leasing.
Open vs Closed End Leasing
Exotics are lease to own.
1 of the advantage is TAX write off.
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my friend does the insurance for companies like MCL, Vancouver Ferrari, Porsche, 89% of the people are Leasing them.
Allwest Insurance ? Alot of Hot Babe work there
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Old 03-13-2013, 11:58 PM   #12310
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I was under the impression that businesses like Miles End offer the leasing option to foreigners who do not have any credit here. Obviously they could just buy it straight up but prefer the lease option for whatever their reasons.
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Old 03-14-2013, 12:02 AM   #12311
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Exotics are lease to own.
1 of the advantage is TAX write off.
I'm glad that the manufactures/dealers have found a way to help these poor exotic car owners avoid the tax on them.
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Old 03-14-2013, 12:27 AM   #12312
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I'm glad that the manufactures/dealers have found a way to help these poor exotic car owners avoid the tax on them.
Well, they would need a legitimate business and justified purpose to "write off" the tax against. There's only a certain amount you can put towards it all so unless your accountant is a genius, there certainly are limitations.
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Old 03-14-2013, 01:41 AM   #12313
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notice the guy didn't even have plastic bags for his grocery.
That's because he shops at Costco

Gotta save on something
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Old 03-14-2013, 01:44 AM   #12314
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Allwest Insurance ? Alot of Hot Babe work there

yes.
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Old 03-14-2013, 02:40 AM   #12315
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A lot of our customers lease their cars. I have limited knowledge with sales side of our dealer but from what I've noticed the ones that lease are the ones who like to change cars every year or so but it doesn't take a genius to figure that out lol

And yes for allwest insurance
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Old 03-14-2013, 03:04 AM   #12316
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I remember one chick very well... super cute asian (vietnamese? chinese? the cbc kind.. )

drove a Black Si coupe....


allwest = alltits
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Old 03-14-2013, 03:30 AM   #12317
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my friend does the insurance for companies like MCL, Vancouver Ferrari, Porsche, 89% of the people are Leasing them. tax write offs, cheaper payments, not dealing with expensive major services and having the current models are the benefits of leasing.
Your friend is wrong.
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Old 03-14-2013, 04:18 AM   #12318
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I remember one chick very well... super cute asian (vietnamese? chinese? the cbc kind.. )

drove a Black Si coupe....


allwest = alltits
She's still there, I saw her every now and then when I worked full time

There's also some chick who drives a grey AP2
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Old 03-14-2013, 05:24 AM   #12319
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Once again, I don't understand why many label the exotics in LA (and Vancouver for that matter) as "leased"... They still cost anywhere between $2,000 - $3,000 per month (if we are talking about USA here, even more in Canada) depending on the downpayment. To be able to shell out that much per month is still "uber baller" in my perception of the world.

Besides, I honestly think that the only reason these people lease cars like these, is so that they can easily get out of the car they are driving at the moment and get into something new and exciting once it comes out. They obviously could care less about lease termination fees and penalties.
$2000 to $3000 per month is nothing compared to forking out $300K + taxes, completely different financial commitment.....I would say 5% of the working population could afford a $2500 monthly lease commitment if you wanted, but I would say less than 1% could afford to buy a $300k car.....c'mon man, who really doesn't want to own an exotic
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Old 03-14-2013, 09:03 AM   #12320
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wait, why does it matter if the car is leased? isnt this thread about 'sick cars in vancouver' not 'leased sick cars in vancouver'

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Old 03-14-2013, 09:56 AM   #12321
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Financing 101...

Firstly a closed/open ended lease doesn't make a difference as to whether you have to purchase the car after or not. The only difference is if the leasing company loses money when you give the car back (the sell for $75k as opposed to the $80k residual they gave) you have to coveer the difference.

Secondly, you don't have to be mega baller to finance a Ferrari. But you do need ridiculous high credit, a large asset or two, and a decently high income. Financing a $300k car over 4 years is just over $6k/month without taking interest or tax into account so we'll say $7k.

In order for you to be approved for this (once your credit and assets are okay), all your monthly payments must be under 40% of your monthly income. So car, mortgage, line of credit, bills etc must stay under 40% once the car payment is in there.

So for someone with monthyl payments of say $1500 for everything (house, bills etc) tack on $6000 for a car. ($7500/month) This person must make $18,750/month, or over $200k/year. Once they've bought this car, this must insure it. Seeing as its a rate class 98 you're looking at 15-25k/year depending on driving record etc.

These figures are very rough, and would vary for leasing obviously but similar idea.

In short a larger percentage than .01 of Vancouver could afford a car like this... But you wouldn't see the $30k Yaletown crowd rocking them unless they're borrowed.

edit: excuse horrible grammar, spelling, and me forgetting to use $7k instead of $6k as monthly payment. Had to type this quickly over breakfast.
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Old 03-14-2013, 10:10 AM   #12322
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I remember one chick very well... super cute asian (vietnamese? chinese? the cbc kind.. )

drove a Black Si coupe....


allwest = alltits
allchest
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Every time I'm there I usually see Jgresch's name under "Best Lap Times"
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Old 03-14-2013, 10:37 AM   #12323
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I'm pretty sure this car isn't leased
ratrod.jpg
I don't know what model this is but I think it can be classified as a rat rod?
sorry pic so small
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Old 03-14-2013, 12:50 PM   #12324
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agreed. As a lot guy that has been doin everything at MCL before.... i would say probably less than half are leased cars... 1/4 are.

out of the 10 new cayennes i had to deliver, just 1 was under company name, and the rest were all bought out in cash (ballin customers, although the porsche finance rates aint cheap...)

I did see quite a few leased Range Rovers though, but thats about it...
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Old 03-14-2013, 12:55 PM   #12325
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Talk so much , almost went through a whole page without pictures..
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