How to Lease a Used Exotic

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LEASE A USED EXTOIC WITH EASE

Yes, you can lease a used exotic. Exotic car leasing can be a great way to get behind the wheel of your dream car, without having to break the bank. And, contrary to popular belief, you can lease a used exotic car – as long as you take the proper steps and due diligence.

FIRST THINGS FIRST

Calculate your payment using our used car exotic lease calculator. This will take into account the price of the used car, your desired term length, and the sales tax rate. Loan-to-value is also important, so we regularly run auction values and set residuals nationwide, giving you the confidence to enter into a market educated on pricing.

GET A PPI

Next, if the used exotic car you want to buy is with a private seller, look for a dealer that can provide a PPI (pre-purchase inspection). They should also be able to access the car’s history for service and collision, as well as verify the title and make sure the car has all of the factory emissions equipment.

If you’re buying from a reputable dealer, you can move directly to the application!

APPLICATION

The approval process for a line of credit starts with an application. Assuming your credit is acceptable, in most cases, you will need to provide a current tax return (1040) and, if you’re looking to lease for commercial purposes, a Business 1120 Tax return and Business application. The payments are the same for commercial leases, but a different contract is used.

After terms are agreed upon and the car is verified, a contract will be drawn up. Once it’s signed and insurance is set up, it will take one business day to fund. If the car is from out of state, make sure to factor in the cost of shipping upfront. It will usually take at least one week after funding for the car to arrive. If the car is local, you may be able to pick it up the same day.

DRIVE IT LIKE YOU OWN IT – BECAUSE YOU DO!

So, whether you’re looking to lease a new or used exotic car, in your state or out of state, there’s no need to worry – as long as you follow the proper steps and due diligence. With Manhattan Funding by your side, leasing an exotic car can be a breeze!

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