The cost of leasing a Ferrari averages about $2000 to $3000, which is more than the average lease. If you dream of driving a Ferrari, leasing might be an affordable way to get that prancing horsepower into your hands.
When you lease, you only have to pay for the amount the vehicle will depreciate while you’re driving it—not the cost of the entire car. Depending on the terms of your lease, you may even be given the option to purchase the Ferrari at the end of the lease.
So where do you get started leasing a Ferrari? Don’t worry,
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Should I lease a Ferrari?
Leasing a Ferrari might sound too good to be true, but there are pros and cons to the decision.
Pros of leasing a Ferrari
When you lease, you’ll typically have lower monthly payments than if you were buying a car, so leasing can make it a little more affordable to drive a Ferrari. If you’re leasing a newer Ferrari, you may get the benefit of the manufacturer’s three-year/unlimited mile powertrain warranty.
You’ll save on sales tax, too, since you’ll only have to pay taxes on your monthly payments rather than the whole car.
Leasing can be an excellent way to keep your options open, as well. If you fall in love with the Ferrari while you have it, you may be able to negotiate a good deal to purchase the vehicle at the end of your lease.
And if you’re not sure you want to commit to something that powerful in the long-term, you can negotiate a shorter lease term and trade the vehicle in for something else.
Cons of leasing a Ferrari
Because some Ferraris appreciate over time, they’re often seen as a good investment, but when you lease, you don’t own the vehicle.
You’ll also have to abide by the mileage limits described in your lease or you could face steep fees when the agreement is up.
You may also have to pay additional fees for any damage beyond normal wear and tear.
How much does it cost to lease a Ferrari?
General leasing estimates
average cost of leasing a Ferrari is around $2000 to $3000 a month. There are a lot of factors that can impact that final price, though, including the model, year, and condition of the vehicle you choose. Your personal finances and credit history will also affect your lease rates (and therefore your final monthly payment).
There are other costs to factor in, as well. You’ll need a hefty down payment to lease a Ferrari—think somewhere in the neighborhood of $50,000. You’ll also need to budget for about $1000 a month in running costs, like fuel, luxury car insurance, and tires.
If you’re leasing a Ferrari made in 2013 or later, maintenance costs will be included in your lease payment, but if it’s older than that, you’ll need to budget for that as well.
And if you’re in an accident, keep in mind that Ferrari repairs can be pretty pricey.
Leasing vs. buying
With all of these costs factored in, it is still less expensive to lease a Ferrari rather than to buy one. A base-model Ferrari with no added options starts at around $210,000 MSRP, and even used Ferraris tend to hover at or above the six-figure mark.
If you lease a Ferrari for three years at $2500 a month, pay a $50,000 down payment, and budget $1000 a month for expenses, you’ll spend $176,000 by the end of the lease period. This is still pricey, but a full $34,000 less than buying the base-model Ferrari. And that’s not even including any upgraded features that your leased Ferrari might come with.
Choose a Ferrari that will appreciate
Although many vehicles start losing value (or depreciating) as soon as you leave the dealership, that’s not always the case with Ferraris. To ensure you’re getting the best deal, choose a Ferrari that will gain value after you lease it.
If you decide to exercise your purchase option at the end of the lease, you’ll be making an investment that could earn you a profit.
Some of the Ferrari models most likely to appreciate include:
Key Takeaway When you’re deciding whether or not to lease a Ferrari, calculate your monthly payments and compare that to the cost of purchasing a similar Ferrari. Also, consider whether the Ferrari model you choose will appreciate or depreciate.
How long are Ferrari lease terms?
The Ferrari Lease Program offers terms from 13 to 60 months. They also have different mileage packages available, so you can choose the mileage cap that best suits your driving needs.
Where can I find a Ferrari lease?
Check Ferrari dealerships and brokers near you and choose one that participates in the Ferrari Lease Program. Also, while you’re shopping around, check for any lease deals or specials—these could help you save big on your bottom line!
How to get car insurance for your Ferrari
If you’re going to hit the road in a luxury sports car like a Ferrari, you need to have a solid
car insurance policy so you’ll be covered in case of an accident. All that horsepower can come with a pretty high insurance bill, though—some estimates place Ferrari insurance at about five times the average cost of car insurance in the U.S.
Luckily, car insurance guru and licensed broker
Jerry is here to help. Jerry compares rates from over 50 top insurers to find the very best price for the coverage you need. And when you choose the policy that’s right for you, Jerry will even help you switch. Best of all? Jerry users save an average of $887 a year on their car insurance!
“As a young person who owns a sports car and a high-end sedan, I couldn’t find quotes below a certain threshold. By using
Jerry, I managed to find full comprehensive coverage on both vehicles and am now saving $150 a month!” —Channing Y.