How does Exotic Car Financing work?

Exotic car financing involves a lot of variables. Ed Bolian breaks down the credit requirements, loan structures that are available, proper steps to take when applying, and income requirements to buy the car of your dreams.

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[SpencerBerke]

I once structured a lease for a client on a Bugatti Veyron. We had done a 72 month term at $31, 000 per month, lol.

[decarlocalloway]

Dude’s with $14.86 in their bank account watching intently...

[cubanian]

I don't know if Ed realizes this, but he has the potential to be an amazing narrator..I could listen to this guy all day. He could make a paint drying tutorial interesting

[iLupi]

Ed story time! Time to put everything else on hold for a few minutes!

[EdBolian]

Thank you all for the great questions. I will check back here as often as I can. Keep them coming.

[christschool]

I've been a banker for 32 years. The information here is top notch. In the 90's, I was the top indirect lender in the nation, booking $300 million in car loans in 1995. The only thing that has changed since then is the average cost of a car and the amortization periods.

[FurryWrecker]

This is honestly what I needed right now. 22, never bought a car before, been driving an inherited '95 Escort, want to get either a Focus RS or ST as a backup car, and I have no idea what I'm getting into. Perfect timing!

[shroomshroom]

So it’s like financing any other type of car

[kingevanek]

The age thing with interest is definitely accurate. When I bought my car the bank told me 2.9% if it was a 2008 and 1.79% if was a 2009 model.

[GettingtheTruthOut]

I was an indirect lender for years and this guy's explanation is spot on. I spent a few years financing yachts after cars and its much different than this, but his video is also a good explanation for all autofinancing because it pretty much works the same. One area he didn't cover is Gap Insurance for these cars. I don't know if its available, but if it is, and you can't simply right a check for the balance difference, buy the Gap Insurance.

[bigBatZ]

I’ve never considered financing a car and think the rules here in England will be different.. but any excuse to hear Ed’s voice

[Chakakan]

Ed’s voice it’s like Morgan Freeman voice, you can read something and hear his voice in your mind!

He’s such a down to earth guy!

[vwdarrin]

thank you for your time, always good stuff

[alejandrorodriguez]

I'm looking to buy a car in the next two weeks (not exotic) and this has been really helpful. Thank Ed and VinWiki!

[manierisratchet]

I could listen to him all day long and never get tired of it. Ed is the man for sure and totally makes the channel.

[MarkCoopersisqocracker]

Damned good job!!! :-D These are the kinds of things we never got told when we were young and had to find out the hard way. So glad there are more people stepping up and telling what needs to be known to actually achieve dreams. It is a great thing. Thank you Ed.

Now you've got me thinking about my roll over date for the Exige already. There's a 911 Turbo across the street from me in limbo (sitting around between 2 neighbors selling it to one another, doing nothing currently) and would be more than my 40k for my Exige, so I could start that ladder climb quickly. :-) Maybe punt the Exige this coming warmer weather.

[solecellarz]

Ed has banished my ignorance...my negotiating skills have just been super charged! A splendid day indeed

[shaunkoger]

Good to know for my first exotic Lamborghini Gallardo LP 570-4 I’m going to make that happen and soon

[Cricis]

Hearing ED talk is like hearing a beautiful book being read to you.

[SkTi]

My general rule of thumb is, financing is fine as long as you can still afford to write a check for it. Especially when it comes to buying a dream car. Just my personal guidelines I like to live by. Interesting video! Never heard of one payment leases before.