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Hello everyone, new here. How much should you have in cash/liquid assests before buying a 300k Lamborghini Huracan? What should your income be? Does somebody know the average net worth of a lamborghini owner?
 

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2018 Huracan Spyder 580-2
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Welcome Lokke, This question has been asked many times before and the answers are all over the place. My criteria is pretty strict. I think you should own your home, have investments, cash in the bank for emergencies and an annual income and exceeds the cost of the vehicle. It’s all about priorities, and you need to be sure you have those in place and in the proper order. You might want to check the Dreamers section for a more detailed breakdown.
 

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Averages and incomes mean almost nothing, as everyone’s situation is different. I can buy one easily even though my income isn’t that great because of my low debt level
 
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Like the posters above have said....I think you will find many answers. I know many people 40-50 who are leveraged to the hilt. They think nothing of taking on new debt as long as the payments are 'good'.

They are one paycheck away from being insolvent. Then I know others who are the exact opposite. They can afford a SVJ but they drive a 15 year old mercedes sedan.

So I dont think there is any right or wrong answer. I am like Russk and did not consider a purchase like this until everything was accounted for. I probably could have pulled it off younger in life (I am mid 40) but it also could have not worked out for me since I had to weather 2009,10,11 being self employed.

My only advice is this. IF you are going to buy something out of warranty, make sure you are holding 20+ on hand at any moment in case an unexpected repair comes up. You probably would never need the whole 20, but if you dont have an extra 20 you can set aside, you probably dont belong shopping an exotic. Worst thing that can happen is you find yourself with a car that needs work which you cant afford to fix and then all you have is an expensive paper weight.
 

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Suffices to say if you have to debate whether you can comfortably afford it you probably should wait. As you know as toys go they are depreciating asset so as Russ suggested have all the essentials covered. The money you spend on the Huracan should be money you won't miss if it's tied up in this hobby.
 

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Agree with Russ and Albert, should have enough savings to buy one in cash even if you decide to finance. Pay off your mortgage and fund your IRA first. Look at the Huracan purchase as a sunk cost, never as an investment.

So many variables, do you have a mortage, kids in private school, alimony, child support?

Rather than asking a group of interweb strangers how to spend $300K, maybe you should talk to your FA and CPA first? It's easy for us to say YOLO as we won't be holding the cards if/when sh-t hits the fan and/or the economy tanks.
 

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@surfah has summarized all the major points very well and I would heed his advice. Best of luck however you decide to proceed!
 

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Few million dollars.
This reminds me of when this guy started talking to me about my car and said "You have to be a millionaire to have one of these" and my response was "not really" but then I thought for a second and said, "but it doesn't hurt if you are".
Life in general is much simpler when you are liquid. So get liquid and buy whatever you want.
 

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always pay cash for my toys, and the Lambo is a toy. Agree with most above but am not a fan of paying off a mortgage right now; with rates being so low, it is like free money and you can invest and make better returns. Houses are not a great investment any longer either.
 

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2008SuperG, I’m right there with you. I would rather own my toys than have them own me!
 

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I guess I’m in the far end of the spectrum.

I don’t have my home paid off I don’t have millions but I’m a car guy who set goals for my self.

I purchased a 2011 gtr owned it for 4 years and only lost 13k I was able to sell and pay for my Superleggera with a huge down payment and have a payment similar to owning a gtr.

Rates were low I was able to pay off early but watching the Superleggera market for years prices haven’t changed much.

Also I only like white cars and an 08 SL in white is a rare find so had to jump at the opportunity.

I think I can always sell for more than what I paid. There is only two stock white SL’s left since others are heavily modified or totaled.
 

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I guess I’m in the far end of the spectrum.

I don’t have my home paid off I don’t have millions but I’m a car guy who set goals for my self.

I purchased a 2011 gtr owned it for 4 years and only lost 13k I was able to sell and pay for my Superleggera with a huge down payment and have a payment similar to owning a gtr.

Rates were low I was able to pay off early but watching the Superleggera market for years prices haven’t changed much.

Also I only like white cars and an 08 SL in white is a rare find so had to jump at the opportunity.

I think I can always sell for more than what I paid. There is only two stock white SL’s left since others are heavily modified or totaled.
Nothing wrong with your approach. All the different points of view are helpful for perspective buyers. Then each of us can decide what's best for his or her situation factoring in his or her risk tolerance.
 

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Yep, this is a personal choice and each one of us has a different view as to what is the most practical way to go. As long as you're happy, that is all that matters.
 

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Some people say it's OK to have payments/mortgage with low interest rates and invest the cash but the fact of the matter is those payments with interest are there month in and month out, rain or shine. Regardless of how low interest rates are and how much one can deduct, interest is interest.

No investment is 100% guaranteed. The market is as volatile as a roller coaster. Real estate is boom or bust. But that mortgage/car payment is over your head always.

Some people can be lucky with car depreciation. Buying used with the original owner taking the brunt of depreciation is a wise choice. I lost very little on a 991 GT3, got out of it when used examples were trading near MSRP. But, if looking at one's cumulative/lifetime car ownership history it's invariably a losing proposition unless one is investing in million dollar classic cars i.e Ferrari 288 GTO's and even then the market can soften like fine art.

For me, living debt free is a liberating experience.
 

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Some people say it's OK to have payments/mortgage with low interest rates and invest the cash but the fact of the matter is those payments with interest are there month in and month out, rain or shine. Regardless of how low interest rates are and how much one can deduct, interest is interest.

No investment is 100% guaranteed. The market is as volatile as a roller coaster. Real estate is boom or bust. But that mortgage/car payment is over your head always.

Some people can be lucky with car depreciation. Buying used with the original owner taking the brunt of depreciation is a wise choice. I lost very little on a 991 GT3, got out of it when used examples were trading near MSRP. But, if looking at one's cumulative/lifetime car ownership history it's invariably a losing proposition unless one is investing in million dollar classic cars i.e Ferrari 288 GTO's and even then the market can soften like fine art.

For me, living debt free is a liberating experience.
As you and most people on this forum know that's the way I prefer to fly but to each their own.
 

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10x liquid whatever the car costs.
 
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