WOODBURY, Conn. -

Dealer principals and general managers likely are used to seeing the healthy pace of their mainstream new models departing the store as a leased vehicle. In fact, Experian reported 28.76% of new models left franchised stores as a leased unit during the third quarter.

Well, leasing of exotic and vintage vehicles appears to be quite active, too, at least for Premier Financial Services (PFS), which specializes in this particular market.

PFS reported on Wednesday that overall leasing growth and demand for vehicles such as Ferraris, McLarens and Lamborghinis have remained strong over the past decade. From 2009 through 2019, the number of units financed by the company increased 85%, and the total dollars financed grew 178% during that period.

Since 2016, Premier Financial Services indicated vehicles financed and total dollars have increased 21% and 38%, respectively. PFS insisted this three-year performance is good news for what the company believes are “serious auto enthusiasts,” demonstrating that higher values for premium vehicles over the past decade are not based solely on their improvement relative to market pricing in 2009, during the economic recession.

“Our results over the past decade suggest that market interest in exotic, vintage and luxury vehicles has continued to grow,” PFS founder and chief executive officer Mitchell Katz said in a news release.

“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 continued.

“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,” Katz went on to say.

Specialty leasing has gained wider acceptance as a financing strategy, according to Katz. He explained that specialty leasing — which is unlike closed-end lease arrangements orchestrated by captive finance companies — can provide car owners with greater flexibility, such as favorable options for lease termination.

Katz noted 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.

PFS went on to mention 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,” the company went on to say.