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Huracan pricing bubble

161535 Views 3490 Replies 114 Participants Last post by  topcarbon
I don’t know about anyone else, but these prices are getting out of control. Evos with 5k+ mileage asking for 350k plus?? Performantes in the high 300 low 400 range? 610s approaching 300? At some point this has to relax a little. I’m just some old guy venting that when he finally has enough to purchase the cars that the asking price keeps getting higher and higher.
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Worth it financially, or worth giving up the Turbo for the Tecnica?
I would probably trade in the TTS this summer or just after summer. If you are first on the list at ur lambo dealer then you should expect a car around May or June 2023 as they begin production in January. The price you get for your TTS this year I suspect is going to be much better than next year. Two reasons, one I anticipate we are heading into some sort of recession and second the 992.2 will likely be announced next year. Unless your state's tax is high Like us in ontario Canada (13% + 10% luxury tax) or BC (25% + 10% luxury tax), you might make more money selling it early vs your tax credit.

I have a TTS also as you know, i put a deposit down for a technica and i will be selling the TTS later around august/september. At least I can enjoy it for this summer haha
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wow thats nuts your have such high taxes
Tell me about it. It's Canada's government ADM lol

You haven't seen my income tax rate, you would fall off your chair!
If we are not smart about it, webasically work from January to June with no pay haha.
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This Huracan bubble is just getting insane 🤪

WTF...did I have a stroke or am I seeing this right? 4.3mil for a used huracan? lollllll Does it come with the house behind it?
Ok who passed on the memo to sell their cars this week? 5 more cars for sale in one week!

Now totalling 37, come on put those cars for sale right now, keep em coming!

Hopefully phase 2 is about to begin.
Not surprising at all. We are in summer and with the uncertainty and looming recession, everybody has the same idea to want to cash in for a higher resale value before they take a dive.
It makes sense if you have no attachment to the car what so ever. Maybe you have another comparable car that you enjoy in the mean time.
Me however I think differently, I could of made a profit selling my C7 but I would be without a sports car. Also the spec I have is very rare in the country and so far I love it. I could not depart with it now.

Same for a Lambo if I had one I wouldn't want to sell it even if I made a profit unless I got tired of it and would want to move into something else. Then again all other brands have risen too so it's not a win either.

Last, (not a 100% sure on this) but if you make a profit on selling the car you have to declare it as a capital gain and the government might take 40-50-60% of the profit.
I think not everyone who has a lambo has a lot of FU money to not care about depreciation. I, for example, only have enough extra cash to buy one luxury car as a toy and would let go of my 992 TTS this summer to maximize my gain. Hopefully, I might get a tecnica next year, but who knows. Also not to mention a lot of the crypto ppl favour lamborghini and Mclaren, and a lot of their investment vaporized over the last two months. They probably would like to cash in as opposed to keeping the car just so they can enjoy haha.

And no, most people won't be stupid enough to declare a gain on their car lol. I don't care whether we are supposed or not but I already pay enough taxes to this stupid government. Same thing when people make a gain on collectibles (watches, cards, shoes etc), I doubt they will declare that as well.
Some of y'all need to be patience. The BoC has just started raising rates, RE across Canada is falling and cheap money is disappearing. A lot of the supercar sales up here in Canada were fuelled by big profits in RE but those days are coming to an end. Wait till Sept and we should start seeing prices correct.
Oh I am patient lol. I am waiting for someone to drop out of the tecnica list so I can get one haha.
I said it before but for me when I bought my current car, I thought poof money gone. I do not think of depreciation because I know when I sell it'll be practically worth nothing, I'm putting so many miles, wearing out the tires, wearing out the engine etc. I bought it to drive it every day, every day I have fun and I would be miserable locked in my house every night watching TV. I've been watching TV for over 20 years when I was an employee. Now I can afford putting premium gas so I'm catching up in the happiness department. I'm having a blast.

As far as declaring gains I would, you see my screen name means several things including the black clouds that are always following me, always. I'm being tested all the time, weekly, monthly. The only way to not get burnt to a crisp is to stay in the shadows out of the sun. Just like a burglar doing many scores, eventually they get caught, it's just a matter of when. You see a 250K car probably doesn't go unnoticed in the CRA files either, they have full time investigators, they are catching up on those who cheated covid checks, even those who work for the RCMP who cheated are getting caught!

A client of mine probably did a slip up one time, he had a stack of his papers the thickness of 20 inch, he had to send these to the CRA, he told me since then every year he had to send everything in and they were scrutinizing every single page.
That's fair enough. For me I got the TTS and while I love the car and it is very fast, I wanted a little more drama. If I am gona trade it in anyways, I would much rather get the most back from it. I can't drive the car monday to friday (not good optics to pull up in an expensive sports/super car) anyways and I store it for winter, so I am really losing out on may be 16 days of driving by letting it go early hahah. But like angry banker said above, possibly more lambo are getting out up for sales because those crypto ppl need cash all of sudden now or they can no long afford it all of a sudden. They simply might not be in the position to afford losing 10-15% depreciation next year for a 300-400k luxury car.

As for the tax thing go, if you are doing private sales, there is really no receipt or anything to trace. The car is not like a house where you use your address to file for tax, they are not going to know whether you still have the car or not. And if you are trading it in to the dealer where there are more paper trail, I am guessing you will be trading it for another car anyways. And if you are trading for a more expensive car, you are not gona be "making any money" per se. That's my take on this matter, perhaps if we have a Canadian accountant here, he/she can clarify haha.
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The tax hike + the incoming luxury tax in Canada is going to give luxury car dealer a real bad time. I hope the government is going to put the brakes on the luxury tax because of all the inflation. However, I have doubt, with all those financial boost / aid the government is putting out, they will need to get money somewhere.
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