Filed under: Car Buying, Etc., Supercars, Bugatti
Lease a Bugatti Veyron for $24K a month
While there probably is one or two of you reading this who do actually own a Bugatti Veyron, the other 99.9999999999 percent of us don't and never will. Lots of new car buyers, however, turn to leasing when they want to drive what they can't afford to own. This month's issue of Automobile mag reveals what costs are associated with leasing the most powerful and unofficially fastest production car in the world from Putnam Leasing.
First, if you want to lease a Veyron you'll need to take the college fund you set up for your kids, empty out your 401-K and get an advance on your parents' will to afford the car's $400,000 down payment. Then you'll have to figure out how to scrape together $23,595 for your first month's payment. And then you'll have to repeat that feat another 60 times, as the Veyron is only offered with a five-year lease. You are afforded 2,500 miles a year, which means if you're planning on using the Bugatti as a daily driver you'll be taking the bus a lot. There's no word on what the penalty is for going over that limit, but expect to forego a 50-inch plasma TV for every mile over.
When all is said and done you will have shelled out $1,815,700 for the privilege of driving a Bugatti Veyron without the hassles of ownership, which happens to be over $400,000 more than the car's $1.4 million Buy-it-Now price. D'oh!
[Source: Automobile]
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Reader Comments (Page 1 of 2)
Hamud 1:58PM (9/15/2006)
24K/month??? No thanks, eheheeheheh.
Even if i had the money i wouldn't buy that one...
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Dr. Evil 2:07PM (9/15/2006)
One thing they forgot to mention is if that includes T&L. If not, you then will have to pay tax on that $24k. That's ~$1980 if you are in Cali.
I thought all the Veyrons were spoken for. Could it be that they aren't selling as they thought they would or buyers backing away from the purchase t and thus offering the lease to compensate?
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exst 2:09PM (9/15/2006)
Hmm, private jet rental costs about the same, plus its a lil bit faster.
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John Neff 2:25PM (9/15/2006)
Dr. Evil, no that does not include tax and title, which would make the final tally even higher, much higher.
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Hamud 2:27PM (9/15/2006)
Think of a non-profitable car, then you'll have the Veyron. It costs 5 million euros to produce one, they sell for less than 1 million. Senseless.
Ahh, don´t forget to buy a fuel pump along with the car, 15 minutes with your foot deep down the right pedal and its all gone.
For the record. I know that someone who gets one of these don´t really care about fuel price or its car consumption rate.
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Dr. Woo 3:16PM (9/15/2006)
Dr. Evil,
Not all of the Veyrons were ever spoken for.
Hamud,
The Veyron was never meant to be profitable.
This is the problem with the Veyron. People are thinking of your typical automobile and all of the normal logic which applies to them. Profitability, convenience, practicality, utility...you simply CANNOT think of the Veyron like ANY other car on the road. It's an exercise in excess, and if someone can't wrap their brain around that, they are free to complain all they want. But they'll never "get it."
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fordman 3:32PM (9/15/2006)
The Veyron is art on wheels. Like a portrait. You drain the oil and put the car in your living room. People pay so much for a painting, why not a car. If you look at it like that, then everything makes sense.
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rwdmtparkingonly 3:45PM (9/15/2006)
Putnam Leasing better put a Nissan breathalyzer ignition interlock in this car for anyone drunk enough to actually lease it from them at these rates.
This car, with 12,500 miles on it, will probably not have a negative residual value. There must be some really desparate people out there who can't qualify for a $1.4 million dollar car note.
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Richard Warren 4:21PM (9/15/2006)
Tahts all? Heck, I'll take 2.
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Mary 4:55PM (9/15/2006)
Putnam Leasing's policy on their website is "if you tire of your car before the lease expires, there's no penalty"
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rwdmtparkingonly 5:09PM (9/15/2006)
I saw the no termination penalty language, but it looks like that is a symantics game. If a person terminates the lease early they make that person pay the full amount of the future lease payments and then give the person an unmentioned discount for returning the car early:
"You can terminate your current lease at any time without penalty. We calculate the balance owned, subtract a discount for early termination, and you pay the remainder."
I think the rule with million plus cars if "If you have to lease, you can't afford it."
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DPC car videos 7:07PM (9/15/2006)
think about what kind of house you can on for 24k.
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Riker 7:08PM (9/15/2006)
Hamud,
I'm pretty sure the *first* veyron cost $5 mil, which included development costs. Every one after that still sells at a loss, but not a 400% loss.
Anyone else able to confirm / throw some concrete numbers in?
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Luigi 11:29PM (9/15/2006)
Has anyone given a quote for insurance on this vehicle? I have an eighteen year old son who's just getting his license and I want to know if I can carry the insurance costs if I let him use it for getting to school and weekend beer parties.
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chewy 4:07AM (9/16/2006)
Hamud
Jeremy Clarkson started that rumor. Would you trust him with any information? While Bugatti isn't making giant money, they aren't losing that much. The Veyron sells for about 1.3 million, and I don't think that they cost 5 a pop. Also, its milage is actually very very good for 1,000 hp. 8/15. The Dodge Ram SRT-10 is rated at 9/12 with only half the power. (Bonus, guess which one pays the gas guzzler tax, only the Bugatti does) Take a Civic and floor it and you won't last an hour with the throttle pinned.
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Tom Steele 9:32AM (9/16/2006)
I am one of those who just doesn't get it. I am married to profit motive and value for money and I can't get my mind to let go of those value systems.
This just looks stupid. This car falls under the, "even if I won the 150 million dollar powerball tomorrow it wouldn't interest me" category. I just don't see the logic, and I'm not convinced there is any...
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Jimmy C 12:51PM (9/16/2006)
And could you imagine the insurance premium on that? I tried to get a quote but apparently State Farm is not hip enough to put fantasy vehicles on it's site...
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Brian S 2:52PM (9/16/2006)
For the insurance people.... you don't insure cars like this through normal insurance agencies. You go through a foreign company who specializes in exotic and VERY valuable cars. Even if you wnat to insure one of your classic Chevys, you have to go through a company called Foremose (sp?).
And for teh guy who said he doesn;'t see the logic..... there is no logic. That's not what it's about. It's about taking all that aggression and anger from being the kid who got picked on in high school and trying to compensate for shortcomings through material posessions.
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.T 7:14AM (9/17/2006)
Damn stupid pissing away $400K just because you're afraid to own a car. Obviously it would be better to just buy it and when you're tired of it, sell it. I don't think you would take a $1.8 million hit selling a $1.4 million car, but I guess common sense is meaningless to the people who piss thousand dollar bills.
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Nikolai 5:38PM (9/18/2006)
The Veyron costs $1.2 million for each, and each is handbuilt. You go to France, and watch them build it over a month, if you like. They're not manufacturing them, so it doesn't make sense that they're not selling. They don't build them until they need to. The development may have cost $5million, but they're not taking a hit on it. VW wouldn't allow that (Bugatti's parent).
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