Innovative ways to finance a Supercar

Funding the lease or purchase of a £200k supercar can be a lot more straightforward – and flexible – than trying to finance an everyday car.

Those of us who can’t actually afford a Ferrari or Lamborghini, or any of the £200k (and more) supercars that stir our souls, tend to think buyers of such cars just flash the Amex Black and it’s job done. But that’s a long way from the truth.

In fact, most buyers of Supercars choose to use finance as a vehicle to acquire the car they want, not necessarily because they can’t afford the cash price but because paying monthlies means more capital to play with and the chance of tax breaks in the process.

But rather than being a fairly rigid choice between HP, Lease or Contract hire, buyers with deep pockets tend to get the sort of treatment – and deals – the rest of us just don’t get access to.

We’ve been speaking to one of the major providers of high-end car finance, Magnitude Finance, and were more than a little surprised at just how hard finance companies will work to provide finance to those who don’t necessarily need it.

Magnitude gave us a couple of examples of supercar finance deals which are highly unlikely to be possible with more prosaic wheels.

One client buying a Ferrari 458 Spyder, for a bit over £200k, managed to get the finance company to let him have the car and defer his first payment until the start of his company’s financial year and another – who was buying a £165k Lamborghini – managed to do a deal with just a (chunky) deposit and interest only payments on the balance (and with a rate just a bit over 6 per cent).

So it seems if you already have very deep pockets then finance companies will bend over backwards to make a deal work, and at rates that make most finance deals look expensive.

It’s just a shame the rest of us can’t get the same sort of deals on something more affordable.