Putnam Leasing released its series of monthly estimates for high-end marquee lots at the upcoming Amelia Island auctions. The Connecticut-based company provides leasing options for consumers that want to own collector cars with 24-to-60-month terms.
“Most our clients are smart businesspeople that enjoy putting their capital to work for them instead of sinking more money than they need into a costly asset,” Steve Posner, chief executive of Putnam Leasing, was quoted in the announcement. “Why not pay along the way in a lease to own deal?”
To put Putnam’s lease-to-own prices in context this 1959 Porsche 718 RSK, chassis 718-018, is one of 34 examples of this model and received a complete restoration in 2014. It’s available at Gooding & Company’s Amelia Island auction with an estimated current market value of $3.5 million. With a Putnam lease a consumer can expect a $700,000 down payment and an estimated monthly payment of $35,685 plus tax.
Another example at the upcoming Gooding & Company Amelia Island auction is a 1967 Ferrari 300 GTS. Chassis 10173 has an estimated current market value of $2.4 million and with a down payment of $480,000 a consumer can expect a monthly payment of $21,995 plus tax.
“At Putnam Leasing, we showcase how leasing is a helpful tool for collectors at auctions,” Posner was quoted in the announcement. “The kind of leasing options that Putnam provides becomes especially important in hot, competitive markets like the one that we are experiencing right now.”