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How much does it cost to maintain a Lamborghini Huracan for a year, if bought used? With maintenance I mean absolutely everything fuel, insurance, service, oil change etc...

Lets say I want to buy a used Lamborghini Huracan for around 230.000 USD. If a buy in cash, which probably is the best option? How much money should i have in the bank. I have heard so many different answers. Some say if you have a million dollars in the bank you are good to go. Others say 500k is enough. Some even said 300k.

The model I am looking at is:
Used 2015 Lamborghini Huracan
41.000 km
 

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2018 Huracan Spyder 580-2
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Everybody is different. There is no ONE answer because it depends on so many variables. I like to pay cash, but that's just me. I have no debt and I don't want any. I think you should have ample stable investments, stocks, property, savings for emergencies, etc. If you have family, that comes first. Your income should be at least equal or greater than what you are spending. That is very general but like I say, everyone's situation is different.
 

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Totally agree on case by case. Even just fuel expenses can vary wildly depending on whether you live in a state that has fuel for $2.50/gallon vs a state that is closer to $4/gallon.

Compound that by mileage. Some people rarely drive them, while others DD them.

Same with insurance. Are you 23 with 3 speeding tickets or 50 with none? Big variance there too.
 

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If you put in cash it’s basically irrelevant to what you have in the bank if we operate under the assumption you are of sound mind and intelligence. I say this because then it is just all subjective with a billion extraneous variables to factor. So if you can pay cash then what’s there to worry about as you have enough intelligence and financial ability to do your own subjective risk vs reward.

Maintenance isn’t bad but I only have warranty experience thus far but what I read is it’s typically not too bad and the motor is very reliable. This is not an old Ferrari engine here.

For reference I’m not a high net worth person at this point in life and in acquisition. I don’t have old money and I am not in say tech where I’m an app away from multi milliondollar overnight valuation or net worth. I have reliable monthly income that allows to easily pay for this car and everything that comes with ownership at the cost (consequence) of lower savings, lower net worth but at the benefit of enjoyment in the present. It isn’t a matter or right or wrong good or bad because it’s all value based subjectivity on a luxury item that objectively isn’t a good purchase no matter what anyone on this forums financial situation is. Plenty of billionaires or ultra net worth individuals would never think to waste money on a Lamborghini and they aren’t objectively wrong financially. I can’t stress this enough. If you can pay for the car whether through up front cash or from comfortable portion of monthly income then the costs benefits is up to you alone. The key word is comfortable position. If you spend 230k but don’t have a lot saved and not a lot coming in to replenish then that isn’t comfortable and has high risk to reward. If you have the ability to pay 3500 a month but barely anything left over for savings then that has an equally high risk to reward. That’s the only thing that objectively should be cautioned against. Everything else is matter of preference. Good luck.
 
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Hello,

I have a Performante and have some experience in this.

I see that you're in Norway. I'm in Sweden so it should be similar since your closest service center is in Malmö or Copenhagen. In service we average around 20 000 SEK per year. They told me there's a big service and a small one which I assume is just an oil service. Small one is like 15 000 SEK and the other is around 24 000 SEK. They require you to do one of them either once a year or within some km interval. Can't remember the range.

Insurance on my name here in Sweden is like 16 000 SEK a year LOL, I'm not that old and I live in southern Sweden. I was shocked at how low it was. The funny thing is that I only pay for the days I actually drive which comes out to nothing in the end. Insurance over here can be paused and it's just insured for sitting in the garage.

Fuel, I have no clue. Just fuel up and drive. Never gave it a thought but the car says that the range is around 400km.

If you plan on tracking the car the cost of having it will go up. Tires and other wear and tear parts are not cheap. I just put on two new rear tires, Pirelli P Zero Corsa for around 9000 SEK.

Other than that the Huracan is pretty solid! Let us know if there's anything else or if I missed something.
 

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My rule of thumb is you should have enough money to buy the car comfortably in cash whether you finance or not. Annual service varies between 1400-2000 USD. Gas mileage is not bad compared to my Ferraris and AMGs.

You should have a rainy day fund for out of warranty repair. Just had an oil leak repaired as a goodwill gesture less than 1 year out of warranty that involved ordering over 50 parts with over 30 man hours of repair. It would have been a very expensive dent to my wallet. The irony is I asked my dealer for an extended warranty when the OEM was about to expire as I prefer the peace of mind but only 3rd party options were available locally.
 

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Discussion Starter #7
My rule of thumb is you should have enough money to buy the car comfortably in cash whether you finance or not. Annual service varies between 1400-2000 USD. Gas mileage is not bad compared to my Ferraris and AMGs.

You should have a rainy day fund for out of warranty repair. Just had an oil leak repaired as a goodwill gesture less than 1 year out of warranty that involved ordering over 50 parts with over 30 man hours of repair. It would have been a very expensive dent to my wallet. The irony is I asked my dealer for an extended warranty when the OEM was about to expire as I prefer the peace of mind but only 3rd party options were available locally.
Thank you for your answer. How much should one have left liquid assets after buying a 230000-250000 dollar Lambo? Lets say you have 750 000 dollar in the bank. You buy a 250k Lamborghini Huracan. Then you 500 000 dollars in the bank would that be enough do you think? Read somewhere that you should at least have a million dollars in the bank. Dont know if thats true.
 

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Discussion Starter #8
Hello,

I have a Performante and have some experience in this.

I see that you're in Norway. I'm in Sweden so it should be similar since your closest service center is in Malmö or Copenhagen. In service we average around 20 000 SEK per year. They told me there's a big service and a small one which I assume is just an oil service. Small one is like 15 000 SEK and the other is around 24 000 SEK. They require you to do one of them either once a year or within some km interval. Can't remember the range.

Insurance on my name here in Sweden is like 16 000 SEK a year LOL, I'm not that old and I live in southern Sweden. I was shocked at how low it was. The funny thing is that I only pay for the days I actually drive which comes out to nothing in the end. Insurance over here can be paused and it's just insured for sitting in the garage.

Fuel, I have no clue. Just fuel up and drive. Never gave it a thought but the car says that the range is around 400km.

If you plan on tracking the car the cost of having it will go up. Tires and other wear and tear parts are not cheap. I just put on two new rear tires, Pirelli P Zero Corsa for around 9000 SEK.

Other than that the Huracan is pretty solid! Let us know if there's anything else or if I missed something.
Hello. Thank you for your answer SIR(y). Good to see someone from Scandinavia since things would be similiar. True that we dont have any Lamborghini dealers in Norway. The closest service center is Malmo yes. Which is 5 hours from Oslo. 20 000 SEK does not sound too bad. I expected much more. 16 000 SEK in insurance is good. You paid less than 100 000 SEK a year for your lamborghini huracan performante? Meaning everything Insurance, Service, Oil Change, Tyres etc..
 

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Read somewhere that you should at least have a million dollars in the bank. Dont know if thats true.
Should go without saying, but this is soooo relative and entirely lifestyle, age, and location dependent.

How much money a single 23 year year old in Nebraska should have in the bank/assets is significantly different from a married 50 year old with 2 school age (private prep and/or college) kids in Laguna Beach, CA or San Francisco.
 

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Best practice is not spending more than 10% of your wealth on a lambo. and with wealth i mean excluding real-estate.

whether you buy it cash vs. financing, it doesn't matter that much and depends on your risk appetite.

some banks in eu offer around pa 1.1-1-3% interest rate if you are a long time customer. if you are able to invest the 250k eur cash on your own and pay the car with a loan where you believe you can easily beat that rate, it is a win. however, corona changed this approach because many season-start buyers who did that in jan and feb to get the best prices ended up losing too much on stock exchange. so, many saw this and got scared and reverted back to using existing cash.

what matters the most is that you shouldn't see this as an investment. it is a subscription. you are basically burning money to increase happiness and social reputation for a few years.

above is what any reasonable person would tell you.

I say fck it, life is short. get one today!
 

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The thing is, people are buying six figure cars every day! I'm getting a 100k audi for my gf next week and I just bought a Perf Spyder for 3xx,xxx. My best friend bought a 458 spider and if you look at Performante for sale it was 47 two months ago and now a lot have sold, I sold my perf coupe 2 weeks ago. Performantes for sale are now down to 35 cars nation wide.

I personally always paid cash (I hate debt), and same with a lot of my friends. What amount of money you have left and are comfortable with depends on you. But the reason why I personally pay cash is because if I can't afford to own it outright, I shouldn't be owning it in the first place. In addition, I have investments elsewhere and toy money is exactly that - for toys.
 

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Thank you for your answer. How much should one have left liquid assets after buying a 230000-250000 dollar Lambo? Lets say you have 750 000 dollar in the bank. You buy a 250k Lamborghini Huracan. Then you 500 000 dollars in the bank would that be enough do you think? Read somewhere that you should at least have a million dollars in the bank. Dont know if thats true.
Lots of other factors. Do you have a mortgage or other loans ? Is your source of income steady and recession proof? Do you travel a lot and fancy flying first class and staying at 5 star hotels? Do you have a wife and kids? Private school or college tuition? Does your wife work?

Bottom line I don’t walk in your shoes nor would I take financial advice from strangers on the internet. Talk to your financial advisor and CPA and go from there. Good luck
 

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The answer is actually pretty simple. If you can buy the car without worrying about how you will pay for insurance, maintenance or issues if it's out of warranty, then great. You also can't worry about how you will afford your other bills, and putting money in savings too. And last, if you have to sacrifice your other "fun habits," then it's a coin flip based on your comfort level.

Maintaining the car is easy. An oil change every year, a brake flush every other year, and a full service every 5 years. Any other plan is overkill and unnecessary. Good luck.
 

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Thank you for your answer. How much should one have left liquid assets after buying a 230000-250000 dollar Lambo? Lets say you have 750 000 dollar in the bank. You buy a 250k Lamborghini Huracan. Then you 500 000 dollars in the bank would that be enough do you think? Read somewhere that you should at least have a million dollars in the bank. Dont know if thats true.
Also, really making me question whether or not you even have the funds to buy this car or if you are a dreamer based on some of the questions you are asking.
 
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