Career for owning a Lamborghini

I never feel it insulting nor inconsiderate for someone to ask how I got where I am today. In fact, if anything, it's refreshing that someone is curious enough and shows a little drive and motivation to do better. In the end, if I can provide a hint of inspiration to someone to do better in their lives, I'll answer that question all day long.

-Ben

 

That is what I was hoping when I first came here and asked the same question as Murcielago11 is. I found out though that many people consider it a bit intrusive, or just might not want to share it publically over the internet. Either way I respect their decision.

 

Unfortunately the mark-ups on the legal end, are nothing like the other side (dark side). It is like any other wholesale business. It is not like taking a 7 cent pill and selling it for $15.00 in a club. LOL. Typically it is around a 32% markup for most inexpensive items. Generally the more expensive the item, the lower the markup. - Like any business. You also have the movers, that you have to almost give away at times.


Nice metallic "orange" fireball A.J. !!!! Congrats


When I have that custom ( Banana Republic Dictator Especiales) Lamborghini with the purple exterior and gold seats, you will know that I have crossed to the dark side of the business.

 

Lmao!! Aint that the truth!!

 

Fot the younger group (I'm 50), real estate was where I made alot of money without working 60 hours a week. I had as many as 18 rental houses/duplexes. I took the rent and paid the mortgages as well as the borrowed down payment. I had everybody except my Mon Parents tell me I couldn't make money that way...$500K and tax advantages along the way proved them wrong. I read books on how to creat wealth in real estate. Set goals and keep moving. You'll get there.

 

Something to remember, just because a guy drives a $275,000 Muci dosen't mean he bought it. 75% of them are leased for two years, which is not that much of a commitment. No sales tax, and the warranty covers all the major stuff.

Looks can sometimes be deciving.

 

75%? Thats huge. I cant believe that Ray. I personally know many Lambo owners, other than myself, and not a single one leases. Im sure alot of owners do, but 75%?
Ive never leased, but dont you pay sales tax on your monthly payment, and down payment?

 

Yes you do pay tax (in certain states it's the sale amount and other it's only the depreciation value) and a monthly payment on a 24-36 month lease on a Murci can be quite expensive...especially since you are paying down depreciation on the first couple of years (we all know how steep that is). I would also agree that 75% is a high figure, but it is true that a good deal of new and frankly pre-owned Lambos/Ferraris are leased in order to take "advantage" of tax incentives. While I know that these "incentives" no longer are as attractive as they used to be, I do know that many people take advantage regardless. IMO the posers are more likely to lease a Porsche, Benz, or BMW than a Lambo or Ferrari. Especially since the leasing company is on the hook if the person on the note doesn't pay. Just my .02...

 

Thanks Eric. I figured a 24/36 month lease would be crazy money, but thought maybe I was missing something here.

 

I heard someone say that in the real world there's only a handfull of people who will get to do what he likes and makes money, let alone getting to do what he likes. The guy also said that his motto is to do the best, or thrive to be the best, in what you are fortunate enough to be doing. Good things will come.

I totally agree with him guys. I think it's a very small chance for us all to get to do what we like. I am fortunate enough to have the business I have today. My brother is doing great in our family business, and I am thankful for that. I think most of us here in this forum who happen to own those exotic cars are very fortunate in that we are doing good in whatever we do!

So, don't wait until the what-you-like-to-do kind of job comes along. It might and it might not. Grab whatever you can, do your best, if it's not enough, do better. Just make sure you are honest, deal with all people with gratitude. Good things will come along.

Good luck.

 

Personally I do not know anyone who drives a Ferrari or Lamborghini that Leases them. All my contacts say they paid cash for them.

 

I have a leasing company and the leasor pays Indiana sales tax on the lease payments, so the state in the end gets more money.

 

I put at least %20 down and finance the rest, or just pay cash depending on a few different factors...My bank will let me buy a 5-10 year CD as security and charge me .99% above my CD rate on the car. Has anyone else worked a CD secured loan before for their car?

 

I always waited(after 1980) until I had cash to buy my unnecesary toys in life. That's why I was 47 when I purchased my F car. Back in the early 80's I borrowed 10k at 21% for a Corvette I could not live without and learned a very important lesson.

 

Why of course.....everyone pays cash......but it's usually one month at a time in most cases.

50-60 % is the average number of my clients who lease their vehicles. I've sold over 1,000 high end cars in 16 years. This number will vary from brand to brand....but mainly it's in this range in my experience. The stuff over $100K is almost exclusively leased out....no exceptions here.

The rest who supposedly "pay cash"......either write me a cheque from their home equity line of credit (I'd say this accounts for 25% of all acquisitions, they usually slip up during the deal and tip me off inadvertantly with a phrase or keyword that tells me they are lying)......and the rest really do have the money.....the cash that is.

Everyone likes to say they "paid cash" (who doesn't, it's human nature)..........and they always say that they paid less than the bill of sale I have in my file too.

 

Wow, I'm surprised soooo many people lease/HP . Its a very expensive business (many would argue very much worth it !!!) People should not assume that its a cheap way of having a Murci - you need to be nicely well off to afford that kind of monthly spend.