Car enthusiasts all have that one car they wish they could own – a Porsche GT3RS, a Maserati MC20, or maybe even a Lamborghini Aventador. For some, the dream of owning a car comes with more questions: questions like whether a lease might be right for you.

Regardless of the car’s name, what it does, or whether you want to purchase one outright, owning one of these beauties is entirely possible with the help of an exotic lease calculator — like the one from Manhattan Funding. Exotic lease calculators help put the costs of exotic car ownership into perspective – and even help make knowing how to fund your own a little easier.

How To Use A Lease Calculator

If you’re shopping for high-end luxury or exotic car, you’re probably wondering what your lease options are. Ultra-luxury cars are designed for comfort and performance, while exotic cars focus on upgraded performance attributes. Both types of cars typically cost more than $100,000, so it’s essential to plan your finances carefully before making a decision. 

Enter the versatile exotic lease calculator. Lease calculators, like the one offered by Manhattan Funding, can help you make the best decision for your needs. Our calculator is programmed with current makes and models of luxury and exotic cars and takes into account market information to give an accurate estimate of lease payments. With this tool, you can easily compare different lease options and make an informed decision about which one is right for you. So whether you’re looking for a pre-owned Porsche or a new Bentley, our exotic lease calculator can help you get the car of your dreams.

Steps to use our simple lease calculator:

1.     Pick out your new or pre-owned vehicle – from any private seller or dealership.

2.     Enter the selling price with the desired term, down payment, your local tax rate, and your anticipated trade-in equity (if any).

3.     Get your quote!

4.     Review to discover the lease details – including residual, taxes, and other fees. 

Many lease calculators, like ours, have a button that allows you to download, text, print, or email your quote in PDF form.  Save this for your shopping or deal folder. 

How Does An Exotic Lease Work?

Exotic leases differ slightly from standard auto leases, yet share the same basic structure. A simplified example looks a little like this:

The car’s total purchase price will be broken into two parts, the first being the residual value and the second being the principal balance. The residual value is pre-determined by the lender and is calculated based on the projected worth of the vehicle over a few years of use. 

The second part is the principal balance, which you will finance over the selected lease term. This includes the sale price, tax, title, license, and any acquisition fees. It does not include trade equity or cash down payments. Subtract the residual value from the principal balance, and you will get the balance of what is financed over the term. Since a lease is not an outright purchase, you can think of it as paying for the parts of the car you will use during the lease terms. 

Leases with Manhattan Funding include extra perks like dollar residuals and substitution of collateral exchanges. 

Are There Tax Benefits For Exotic Leases?

It might be tempting to buy a car outright rather than leasing it. Believe it or not, there are tax benefits associated with leasing. Sales tax and business-related deductions are two of those benefits. 

Purchasing a car outright or through a traditional loan means you will be paying sales tax on it– a rate determined by the state where you live. Sales tax is due at the time of sale, and when you’re considering a car that costs over $100,000, that can be a pretty substantial payment. For leased luxury or exotic cars, sales tax is based on the principal balance and can be spread out over your monthly payments, meaning you don’t have to worry about a hefty up-front payment (in most states).

Additionally, you may be able to save money by leasing a car in a business name – an option that is not always available when you plan to purchase a car outright. When you lease in the name of a business, you can use pre-tax dollars to make monthly payments on a car, which saves some money at tax time. 

Of course, it is always a good financial decision to consult a financial advisor or an accountant before making any decisions that could impact your taxes.

A Calculator of Benefits

Any purchase decisions revolving around luxury or exotic cars are big ones. An exotic lease calculator can help you determine monthly payments and weigh potential tax benefits so that you can make an informed decision. Get started with the Manhattan Funding calculator today.