Imagine a Rolls owner – the first thing that springs in mind is its sizable bank account. And we couldn’t imagine one taking the time and trouble of discussing with a dealer the down payment or monthly payments and mileage allowances of a lease.
But, as it turns out – for the brand the financial procedure is crucial when it comes to the US market, says Gerry Spahn, head of corporate communications at Rolls-Royce North America. The current percentage of clients that lease their Rolls-Royce stands today at about 40 percent – with the figures soaring when it comes to “affordable” models such as the $263,000 Ghost sedan or the $285,000 Wraith coupe. Rolls dealers in California – the biggest market for luxury cars in the US – even specifically advertise their new leasing offers. Interest rates are now spectacularly low, making sense to use cheap money for the major purchases – especially when it comes to a rapidly depreciating asset, such as cars.
For example, a Rolls-Royce Phantom can go more than half a million dollars and in just the first two years the model has lost around 30 percent of its value. “In the last four years, five years, you’ve seen that leasing in the whole luxury segment has increased, because the customers are becoming more comfortable with it,” comments Bailey Vanneck, the general manager of one of East Coast’s premier ultraluxury dealers. Leasing even works very well for Rolls dealers – cars coming off a limited mileage lease can enter Rolls’s rapidly rising “Provenance” program – their term for “preowned” or “used.”