Whether you are on board with the concept of leasing vehicles or think it’s a terrible financial decision, you may be curious to know what the payment numbers would look like on one of the world’s fastest and most expensive cars.
CarScoops recently broke down the numbers on a YouTuber’s experience with his local Bugatti dealer. The guy runs the DragTimes channel and goes to his local exotic car shop looking for a new toy.
In case you don’t want to sit through about 17 minutes of window shopping, here is how the lease works out: The guy’s Ferrari is worth $350,000, which he says is about $10,000 more than he paid for it. It seems that he made out pretty well in that regard. The Bugatti Chiron Sport has a retail price of about $3,500,000, and he is getting a “deal” at $3,300,000. He alludes that the discount is mostly a result of this car being a year old. On the surface, getting a $200,000 discount seems pretty good — until you realize that is only about 6 percent off the sticker price.
Using the buyer’s $350,000 in equity as his down payment, the monthly lease on this Chiron for a 24-month program is still a staggering $65,950 per month, including all tax and fees for his location. He points out that the tax alone is around $4,000 per month. This works out to a total lease cost of $1,932,800. So he will spend close to $2 million over the course of two years, with a limit of 2,500 miles per year — and he still won’t own the darn thing. On the upside, all service is included. That’s a good thing, considering what an absolute pain in the ass it is to change a Bugatti Chiron’s oil.
In the end, he says he has to think about it, and I would assume we will see a follow-up video with his new Chiron if he decides to go through with it. Now you might be wondering why anyone with this kind of cash would lease a Bugatti at such bonkers numbers when he could very likely afford to buy it?
The answer likely has to do with the fact that lease payments may be tax deductible if the car is used for “business purposes.” Being that the gentleman runs a YouTube channel for fast cars, he could likely make the argument that the $3.5 million Chiron Sport is a business expense.