Wale in that Ferrari, but that Phantom on his ass

from Game (Ft. Mele & Rick Ross) – Now That I'm Paid Lyrics on Rap Genius

Meaning

In typical Game fashion, he is name dropping fellow rapper Wale. He is talking about all of his fellow rappers being rich enough to afford expensive-ass cars like Ferraris and Rolls Royce Phantoms. Phantom is pun play between ghosts and the name of the car.

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