Premier Financial Services, LLC Posts Record Performance Over the Past Decade for Exotic, Vintage and Luxury Car Leasing

WOODBURY, Conn., Jan. 29, 2020 /PRNewswire/ -- Premier Financial Services, LLC (PFS) – the nation's leading finance company providing specialty leases for exotic, vintage and luxury automobiles – said today that overall growth and demand for those vehicles has remained strong over the past decade. From 2009 through 2019, the number of cars financed increased 85%, and the total dollars financed grew 178% during that period.

Since 2016, cars financed and total dollars have increased, 21% and 38% respectively. This 3-year performance is good news for serious auto enthusiasts; demonstrating that higher values for premium cars over the past decade are not based solely on their improvement relative to market pricing in 2009, during the economic recession.

According to Mitchell Katz, founder and CEO of PFS, "Our results over the past decade suggest that market interest in exotic, vintage and luxury vehicles has continued to grow. Despite stock market fluctuations during that period, and generational shifts in taste with respect to specific marques, the number of serious automobile enthusiasts is currently at record levels." 

Katz noted that, "Although nearly half of Premier's lease transactions over the past decade came from returning clients, our growth also reflects many first-time owners and collectors from all age categories – including Millennials, Gen-Xers and Baby Boomers – who appear to be unwilling to wait for retirement or to win the lottery before they can acquire the car of their dreams."

Specialty leasing has gained wider acceptance as a financing strategy, according to Katz. Specialty leasing — which is unlike pre-packaged, closed-end lease arrangements — provides car owners with greater flexibility, such as favorable options for lease termination. That feature is particularly important to exotic and vintage car owners, who often move in and out of cars on a frequent basis. In fact, Katz noted, the average length of a Premier client's lease is around 24 months.

The industry's traditional barometer for evaluating current market conditions has been based on supply and demand for new exotic models, as well as auction sale prices of vintage cars each year at well-known venues including Pebble Beach, Scottsdale, and Amelia Island. Premier's performance over the past 10 years, however, may provide a more reliable, long-term indicator of the industry's health and outlook. In fact, many industry funding sources rely on PFS for accurate estimates of residual values for exotic and vintage cars.

About Premier Financial Services, LLC
Since its founding in 1997, Premier Financial Services has been a recognized leader in specialty leasing of exotic, vintage and luxury cars. The company is dedicated exclusively to innovative, customized leasing arrangements for clients who seek the flexibility of financing, conservation of capital, and the tax advantages of leasing. Premier's success is based on delivering the industry's highest levels of customer service. 

Media Contact: 
Gordon G. Andrew
Highlander Consulting Inc.
[email protected]
(609) 987-0200

SOURCE Premier Financial Services LLC