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  #11 (permalink)  
Old 11-05-2007, 10:40 AM
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Default Dreams vs Cost

The bottom line:
Yes a Lamborghini is not practical
Yes it usually does not have a cup holder
Yes they are not cheap

But - At what cost do you sacrifice your dreams

Planning and effort can get you there

How to buy an exotic 101:

1 - Find a dealer you can trust
2 - Set a budget and ask him to find you a car

You can find cars that are older and have miles on them that will cost less

Many of these cars are well taken care of.

The Porche I just traded looked like is just came off of the show room - Yes it had 38k miles but it runs like a rock


There are deals out there but you have to dig
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  #12 (permalink)  
Old 11-05-2007, 11:55 AM
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Discuss with the significant other but I would lean towards "go for it".

Enjoy the car for 5 years, then sell it and buy a nice family car with the remainder. You're only spending HALF the money if you think of it that way, in exchange for living your dream while you're still young.

If you start making a lot more money when you're 40, I'm afraid you can't use it to turn back time

PS: You're not poor. You just can't afford to go through lambos like cupcakes!

Last edited by indecisiveboy : 11-05-2007 at 11:58 AM.
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  #13 (permalink)  
Old 11-05-2007, 12:58 PM
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Quote:
Originally Posted by 12097 View Post
I know it was a long time ago that I studied compound interest rates,but there appears to be something odd with your numbers.

If you earned the money yourself, (no inheritance) a person who nets 3K per month ($36,000.00 per year before living expenses), who has probably worked full time for 10 or less years, who has a house( lets assume $250K) fully paid for and approximately $450,000.00 cash at their disposal has achieved a financial miracle.

At best, $36K net before living expenses would leave you with $20-25K per year to invest. Based on ten years of savings and an INCREDIBLE compounded rate of return on your investments (averaging 10% AFTER taxes) it is not mathematically possible to have both the physical and financial assets you described.

Perhaps you incorrectly listed your income level or asset base.
Sorry.

HA! HA! Manny got busted...You guys are waaaay tooooo nice. Questions like this one usually come from young kids looking to say "anything"

Good job 12097
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  #14 (permalink)  
Old 11-06-2007, 02:05 AM
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Originally Posted by SI LAMBO View Post
HA! HA! Manny got busted...You guys are waaaay tooooo nice. Questions like this one usually come from young kids looking to say "anything"

Good job 12097
doesn't matter, it is a interesting subject to talk about. I know some one who make about 20k to 30k a month and net worth around 3m at the ago of 35, but still don't have the courage to pull the trigger on a 04 G, and i know he REALLY WANT IT....and he doesn't even have a kid.

Last edited by reddog930 : 11-06-2007 at 02:10 AM.
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Old 11-06-2007, 03:50 AM
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My name is Benji age 32 I make 80k yearly, just bought a '95 diablo vt, the car runs and looks great I paid 100k for the car. These cars have been my dream since age 10. I thought i'd try it. After buying the car I have been a little nervous about driving a 6 figure car around plus there's always the thought in the back of my mind if something happens to go wrong I cannot repair myself I might have to take out a loan just for repairs. In other words, lambo's should have dollar signs pop up insted of check engine lights. My advice is if you know someone with one of these cars really get the feel of riding/driving in the car before the purchase. One great thing I can say is, I wouldn't have bought my car if it wasn't for the great people on this as well as other forums. The support is outstanding, thanks guys. By the way I might sell my Diablo if anyone has an interest. If you want to share any info my cell is 1-702-279-3231 take care.

Last edited by Benji : 11-06-2007 at 03:52 AM.
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  #16 (permalink)  
Old 11-06-2007, 07:19 AM
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Quote:
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My name is Benji age 32 I make 80k yearly, just bought a '95 diablo vt, the car runs and looks great I paid 100k for the car. These cars have been my dream since age 10. I thought i'd try it. After buying the car I have been a little nervous about driving a 6 figure car around plus there's always the thought in the back of my mind if something happens to go wrong I cannot repair myself I might have to take out a loan just for repairs. In other words, lambo's should have dollar signs pop up insted of check engine lights. My advice is if you know someone with one of these cars really get the feel of riding/driving in the car before the purchase. One great thing I can say is, I wouldn't have bought my car if it wasn't for the great people on this as well as other forums. The support is outstanding, thanks guys. By the way I might sell my Diablo if anyone has an interest. If you want to share any info my cell is 1-702-279-3231 take care.
Benji
PM me on the price your asking and I will then give you my email address for possible photos. BTW where are you located. Thanks
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  #17 (permalink)  
Old 11-06-2007, 10:02 AM
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Budget the price of the car and figure out the scheduled maintenance costs over the time and mileage you plan to own it. Then add in what an unforseen repair will cost you (clutch or any know issues with the year car you are looking at) as well as insurance. If that number doesn't scare you and fits realistically within your budget then go for it.

Make sure you budget for real life. I know people who figure a budget and then think "I can get by on $150/month for food." just so they can convince themselves that they can afford the purchase they want. Keep every receipt for every dime you spend for the next month including stops at the coffee shops and newspapers right through the big stuff like current car payment, insurance, home heating, electric, etc. Use that as your budget to base it on. If you can swing it, go for it. If not, maybe look into something a little less pricey or less expensive to maintain.

Personally I have lusted for a Lambo since I saw my first one at 5 years old in 1978. I have wanted a 911 for about the same amount of time. I am 34 years old and currently don't own either as the budget says no. But I am keeping my eyes open for the right car at the right price and that is when I will make my move.
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  #18 (permalink)  
Old 11-06-2007, 02:34 PM
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That's good advice rallykid. I'm the same age as you. I almost bought a 911s cabrio last month but happened that day to drive by the lambo dealership. I fell in love and since have learned more about the Gallardo. I have decided instead to buy one next year. I am amazed at someone who makes 80 k and buys a 100k car and has to worry about if it broke down. When my wife and I were starting out and making 80k i thought it was a stretch to buy a 35k car and then another 35k car 2 years later. I guess to each his own. I recently reconnected with one of my best friend's growing up after 10 years and he asked me when I was getting my Ferrari. I used to say I'd get one by the time I was 30. Well I'm one upping it and getting a Lamborghini by 35!
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  #19 (permalink)  
Old 11-06-2007, 04:32 PM
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If, like you say, your house is paid for: buy the thing
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  #20 (permalink)  
Old 11-06-2007, 05:30 PM
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To Rallykid and Gasman:

Both your replies show an insight into the philosophies regarding financial well being that will put you well ahead of the masses in the future.

When the time and your personal finances are right, you will be able to buy the car of your dreams without the worry of whether or not it will affect your ability to pay for the non-car aspects of your life.

Best of luck, and I hope that when you get that car of your dreams, it is everything you hoped it would be...... and more.
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