Lease this 1962 Mercedes-Benz 300 SL!

In the world of classic and exotic cars, experience always shines brighter than chrome. Putnam Leasing CEO Steve Posner has been in the leasing business since 1977 and has not just survived a fiercely competitive industry but has risen to the top. Focusing primarily on collectibles and exotics, it was an honor to talk with Steve about how auto leasing originated and its current benefits. We will then offer real-world leasing numbers on a Mercedes that will soon be auctioned in Scottsdale next week.  Let’s get started.

Steve:  “Back in the 1970s, there were no leasing programs for any cars other than Cadillacs, Chevys, and Oldsmobiles through General Motors and some through Chrysler. There were no leasing programs by any manufacturer in the exotic car market. Factories like Ferrari, Mercedes, BMW, and Lamborghini had no leasing arms. The only leasing that was done on those cars was through individual companies with credit lines, which they guaranteed through the various banks they did business with, and leased these cars on an open-ended basis. People leased Mercedes, BMWs, and Cadillacs, not so much for how much it cost every month, but for the tax advantages available.”