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I drove my daily drivers to over 200,000 miles.
I have got that beat I drove my 1998 Honda Accord LX over 350K miles then turned around and was offered 3K for the car. Most of my other DDs had well over 150K before they were sold. Sadly, I had a 2011 Honda Accord LX with 115K miles that was rear ended by some distracted driver on the highway and totaled so it never reached its full potential.
 

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This thread is like branches of a very crooked tree. Lol. But with wonderful gems on just about all of them.

so you’re on the dreamers forum because you want a lambo so bad, and doing it the prudent way of grinding through life and saving 20 % of your income or more isn’t reasonable based on your desire to not have oatmeal for every dinner and perhaps drive a safe car, and move out of your parents basement....

also you’d prefer not to be car poor, or wreck your entire future and have the lambo be the biggest mistake in your life, as you aren’t handy and a $30,000 repair could bankrupt you and leave the car worthless, I feel you!

Kid, you have you get your income up. And you have to accumulate some assets, which is easier to do with your income up. Working for the government probably won’t cut it. Living like the 1% should probably mean you are in the 1% ( $350 k income or $10 million in assets). Figure it out, but get there.
Ironically, most of the 1% don’t live like you think the 1% live, but Lambos are soooo much fun.
 

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The other piece of valuable advice. Make your mistakes early in life. That way you have time to recover from them ;)

my mistake? After getting my first job out of college, I bought a brand new Mitsubishi 3000GT. Jaw dropping car for its time. As my dad reminded me, the second you drive a new car off the lot, you have immediately lost 5-10% of your investment. Since then, I have never bought a new car in my life.

here’s my first car out of college. Still mint. All original. Grey leather still smells new. A poor mans Diablo :)

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2018 Huracan Spyder 580-2
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Resembles the Ferrari Mondial. Nice clean look.
 

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2021 Huracan Evo RWD Spyder (ordered, April 2021 delivery)
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Everyone has an opinion about when can you afford a Lamborghini. I think it comes down to your priorities and budgeting. Make it a goal, save regularly, and enjoy all the anticipation that comes with the questions of new vs used, V10 vs V12, working on it yourself or paying someone else... I will say that I’ve typically bought new cars I spec myself, but I keep them forever to spread the inevitable depreciation over at least 10 years.
 

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I will say that I’ve typically bought new cars I spec myself, but I keep them forever to spread the inevitable depreciation over at least 10 years.
Your comment is very important to highlight given trading in and out of these supercars is like repeatedly hitting yourself in the head with the proverbial sledge hammer.
 

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Amen 2018. Buy them to keep. Buy them when they have taken a major depreciation hit already. These cars are toys. Treat them as such. I think 10% of your liquid net worth or 2 to 4% of your total real net worth is a good yardstick for your toys.
 

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2018 Huracan Spyder 580-2
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Your comment is very important to highlight given trading in and out of these supercars is like repeatedly hitting yourself in the head with the proverbial sledge hammer.
No wonder I have a headache!
 

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Amen 2018. Buy them to keep. Buy them when they have taken a major depreciation hit already. These cars are toys. Treat them as such. I think 10% of your liquid net worth or 2 to 4% of your total real net worth is a good yardstick for your toys.
My new mantra is buy and hold......sound familiar? ;)

No wonder I have a headache!
No not you Russ. Your the exception to the rule I know for a fact that before you buy a new Lamborghini iteration you don your protective helmet.😁
 

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Scary to hold for long given potential repair costs. $3,500 a year for the warranty. Hopefully it's bulletproof.
 

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2021 Huracan Evo RWD Spyder (ordered, April 2021 delivery)
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Well I think it depends on what you want in a car. If you enjoy having something different every 2 to 3 years then trading in and out of depreciated cars can be a reasonable strategy. I’m more interested in getting a car exactly the way I want it, even if that means I keep it a long, long time. And it’s a matter of priorities too. I‘ve had to cancel three overseas vacations thanks to Covid, so by spending more time at work and redirecting my vacation budget to my car budget the expense becomes feasible.
 

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Hopefully it's bulletproof.
I think (hope) the Huracan fits the bill* and if you deduct the repair costs from the cost of frequent trading I believe you should come out ahead. Otherwise we have chosen poorly with the Huracan.

*no pun intended ;)
 

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Very fair points. My hope initially was to try to keep my "cost" to under $100 k -$150 k, which is absolutely achievable with a Huracan. But an SV, out of warranty, and a problem is that I will put 10-20k miles on it.

I hope we hear what the OP decided to do.
 

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But an SV, out of warranty, and a problem is that I will put 10-20k miles on it.
Yes that would change the equation to some degree. I think to address the issue more directly, as it relates to at least the Huracan, is to ask for forum feedback on Huracans out of warranty with more than garage queen mileage (> 30K miles?).
 

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To be fair, the OP did ask a very specific question, and so the answers, based on the extremely limited information provided are reasonable.

Can a frugal person making $285,000 per year gross afford a $300 k car? That's not the question that was asked. In my opinion, you'd be crazy to try it, but hey, we all wouldn't be here if we weren't a little crazy and risk seeking.
It depends, 99% of us don't own these cars long term.
So the question is really can a person grossing $285,000 a year afford to spend $29,000 a year for 2-3 years. Drop that to $24,000 a year if buying that $300k used.

In 2019 the average new car purchased was $36,718. I'd imagine the average gross income of those buyers is less than $50,000. What's the difference in someone making $50,000 buying a $30,000 car and someone making $500,000 buying a $300,000 car?
 

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Well, what I have noticed in the supercar realm is "long term" is generally a couple of years (+/-), that is, in most cases............
 

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“ spend $29,000 a year for 2-3 years”

what are you guys doing? Running your Lambos up trees every year??? Letting the wife have the keys????
 

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I'm a little late to the conversation, but I figured I'd chime in. I wrote the following post earlier this year elsewhere in regards to "affording" a used Aventador:

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"[...] While my dream car is now an Aventador, this same mindset could apply to any major purchase. There are all sorts of rules of thumb available when it comes to budgeting and determining what you can afford (like the 28/36 rule for mortgage and debt payments). There is another one that states “No more than 10% of gross income should go to vehicle expenses including insurance”. With the Aventador goal, I wrote a calculator that takes the price of whatever vehicle I find, and reverse calculates the gross income needed as a function of different income percentages. Using rates and terms (6.75% APR for 144 months) from Woodside Credit, which is popular for their extended term exotic financing, and assuming that my Aventador Savings Fund has 25% of the purchase price for a down payment ($54k), running the numbers results in a monthly payment of $1,644 per month. For the payments to be 10% of income, it would require a salary of approximately $197k per year. But, assuming a salary of $30k per year, the payments would account for approximately 66% of the gross income. At this point, it’s a matter of risk and opportunity cost. If someone making $30k can devote that much of their income to a car payment while still affording other expenses, then theoretically, they could afford an Aventador right now. But, considering the smart finance rule is only devoting 10% of gross income, this leaves a couple of options to reduce exposure: put in a larger down payment, find ways to increase income, find a cheaper vehicle (more depreciation over time), or sell other assets, and put the money towards the vehicle. [...]"

As I mentioned there, it really just depends on how financially conservative you are. Every person's individual financial status is unique to them, and really should be evaluated on a case by case basis instead of just offering hard line "you need 500x the cost of the car hidden in a brief case under your bed or you shouldn't buy it" etc. Good luck :)
 

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2018 Huracan Spyder 580-2
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This could get confusing. I am glad I don't overthink it or I probably wouldn't buy one. I just figure if I can pay cash and it does not affect me financially, then I am good to go. I am a simple man (is that a song Albert?)
 
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