My AM dealer really wants me to get a 2010 Vantage. MSRP on the one they have is $173,000CDN and this is there lease offer.

"white 2010 Vantage for $160,000 with the standard wheels (so you can get your own preference on wheels). On a 36 month lease I should be able to get the car approved with a $79,000 residual value and that means your monthly payment comes in at $1950 + 12% tax. This is with $30,000 + fees and taxes as your down-payment."

I'm new to leasing so what do you guys think of this? Pros and Cons

Thanks for the advice!!!!!

 

Honestly, when getting an exotic, you're better off buying it. On top of that, putting $30K down on a lease is a huge mistake. You'd be better off putting that money down towards owning the car and also having the ability to sell it anytime you wish, in case you ever want to. Trust me, leasing a car that's over $100K is a bad idea.

It's especially a bad idea to put money down on a lease, and my friends who leased a lowly G37 Coupe years ago learned that the hard way.

Question, since you're in Canada, how will the currency exchange work for buying a car here in the States? The Canadian dollar is virtually 1:1 with the USD. If it's as straightforward as I assume it would be...it'd make a lot more sense for you to buy this used Aston for 90K, instead of leasing a new one, and it'll cost you the same payment wise and you get to own the car. On top of that you won't have to put down A TON of money.

So, to end my rant, buy don't lease. =)

 

Rhyno,

Might want to check out these links:

2010 ASTON MARTIN V8 VANTAGE in OTTAWA, ON $124,900
Not sure if the year is correct, price doesn't seem right for a 2010

2009 ASTON MARTIN V8 VANTAGE in LONDON, ON $117,472


In terms of leases, a large percentage of cars sold from AM Toronto are leased either directly through dealer or specialists such as MVL.

My first two cars where leased, based simply on the fact I didn't want to put down a large amount of money, the interest rates they offered where ridiculously low - 2.9% and 4.9%, at the end of the term I could walk away from the car & I could write off a percentage of the costs.

Here is a Car Lease Calculator to help you play with numbers.

In terms of the lease they offered you:
- What is the interest rate?
- Are they selling you the car for $160,000 + taxes ?
- How much are all the extra's for the lease, admin fee's etc

 

How about a mini meetup there on Saturday I wouldn't mind driving out to Plainview either. This way Arnold you can take care of two issues together.

I'd argue that stick is the way to go, but SS does look nice with the ECU glass key. White Vantages are quite rare.

I'd advise against leasing. These cars take quite the hit, better to buy it used.

 

This is around the corner from us, I'll go check it out for you if you are really interested. If you buy it we can bring it to us and do this:

 

Arnold, thanks for your input on leasing. The hit you take with a brand new AM in depreciation is really bad thats why I really like this 2009 white AM in Plainview.

Gekko, those are nice cars but neither are white! I don't want to repaint to get a white car. Also with importing this US car it will still be way cheaper then the Canadian 2009 AMV for $117,000. The problem with leasing in Western Canada is that the leases are open ended contracts so you are responsibly for getting rid of the car at the end of the lease for what ever the residual value is. You can't just walk away! I put alot of miles on my cars and this will really hurt the residual value. The best option for me is buying this US car!!!

That would be really cool if you guys all had a mini meet at the dealership! Then I can get a bunch of opinions on the car and you guys get to have some fun!!

D2forged, that is a really cool AMV. I saw this car on Lambopower and like most of the mods. After I get my AMV I think I might powdercoat the wheels black and maybe add some carbon fiber to the interior.

I'm already talking to a broker to import the car for me and get shipping quotes

 

I sent Arnold my cell # and am waiting to here back. Morning is better for me, but I seem to think he wants afternoon. Post your time-frame and we'll see what we can work out.
On the subject of lease vs. buy, unless you are getting a STEEP discount on a new vehicle, I'd advise the used one. Since Aston depreciation is very high, unless there was a combination of a big discount (20K at least) PLUS low money-factor (interest), there's no way leasing a new one will work out close to this used one.

 

I'm actually very flexible. I plan to stop by AM:LI for some logo apparel for this event next week, then continue east.

Once you guys work out the time, I'll simply join there. Showing up in the DB9?

 

I just talked to Matt at European automobile company and there are not going to be open this weekend because Matt is out of town! If anybody has some free time and wants to check it out today or tmrw that would be great.

Matt is going to send the car to AM Long Island on Monday to get a full PPI done.

Thanks for everyone's help.

 

Red Devil, just saw your message. Sorry, I was at my office all day and I didn't have a second to check the forum. It looks like Saturday won't work out, but I may be able to swing by tomorrow around 5PM, assuming I knock the work load out of the way and more doesn't pile up, which will allow me to leave the house at 4PM no problems.

Edit: This is assuming it doesn't rain tomorrow. I just detailed my Z, and washed the Audi, I hate seeing my hard work go to waste. Besides, it wouldn't be fun test driving and looking at a car while I'm being rained on. Hah.

 

It's rained some today so I don't know if Arnold is getting over there. I'll be out of the office by 4 but going into the city to see Harry Connick, Jr. (wife's thing, not mine). Maybe well set up some kind of mini-meet in the not too distant future...

 

I may be going in about an hour. Weather is going to clear up right now.

 

Arnold, The dealership said sorry. They locked up early for the weekend and let the staff go home early.

Good news is that the car will be at AM long Island first thing Monday morning for it's PPI.

 

That's very unprofessional of them to do that. They knew I'd be coming down - I sat in over an hour of traffic to get there. If they want to make a $100k sale, they need to stay on top of stuff like this. Let Matt know to inform AM Long Island that I will arrive sometime on Monday to inspect the car.

Ryan, feel free to give Matt my cell phone number. I left it on his office voice mail, but you can also give it to him. Have him call me, that way we can meet up in Roslyn and I'll see and test drive the car there.

Sorry you have to experience this hitch, Ryan. I'm sure you were eagerly anticipating the good news when I called you at 6PM.

 

I was very excited to receive your phone call yesterday and when I heard that they closed early that really got me disappointed. This the second time they have canceled on us!

I will email Matt your message and send him your cell number. Let me know how it turns out!!