Huracan pricing bubble

161471 Views 3490 Replies 114 Participants Last post by topcarbon, 20 h ago

Dpk555

Discussion Starter · Apr 21, 2022

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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Luzifer

· #520 · 12 mo ago

lambo_dream said:
To those that follow prices, do you guys notice Huracan prices dip closer to end of summer or in the middle of winter? I was being offered a nice 580 for $255k back in November but it sold before even hitting the market. Now the cheapest ones are $280k+ with higher mileage. Not sure if it's because its beginning of summer or because prices have gone up for all cars in the past 7 months

Late September-October is when prices start to drop for sports cars. A lot of people want to avoid depreciation as they age over half a year during winter storage. A lot of owners want to try out a different car and sell what they have for the next one. However I do not think it's going to make much difference this year with the insanity. Jan-Feb will be lowest in the dead of winter then sellers are going to try to sell high for those who absolutely want a car for summer and pay more.

Luzifer

· #521 · 12 mo ago

Mlarco52 said:
Laundromat cars?

Money laundering.

Luzifer

· #523 · 12 mo ago (Edited)

Mlarco52 said:
I'm curious how there is money laundering involved. I know I've seen news of it online as a problem with high end cars in Canada but curious as to how.

A popular one is through leasing.
10 deposits under 10 K for a new car then refund
Cash in a duffle bag

No crime in any of these.

Reactions: 1

Luzifer

· #526 · 12 mo ago

Huracaan said:
Canada is a known hub for money launders and the gov't can't and won't do sh!t about it as long as they're collecting taxes.

The government was losing a lot of money due to illegal gambling so they started with lottery tickets. Then they got even more greedy by opening casinos which is another prime place for laundering, cash if duffel bags.

The government was losing a whole lot of money due to illegal drugs so now pot is legal and there's long line ups outside while I go deposit my checks in the evening. They trade their money for smoke and munchies and I trade my money for steel, carbon fibre, aluminum and gasoline. 😈

Luzifer

· #527 · 12 mo ago

Lambo2018 said:
The dealership has to report a purchase in cash to the IRS > $10K unless the dealership is laundering money.

From an article :

In one scheme, a criminal will hire a straw buyer to purchase an expensive vehicle, supplying the buyer with a non identifying bank draft or, even sometimes, bags of cash. Cash purchases are not illegal and luxury car dealers are not required to report large transactions to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

The straw buyer makes the purchase and turns the car over to the true owner who then sells it to an exporter to ship off shore, most often to China. Once the car is sent overseas, the purchaser can apply for a rebate of the provincial sales tax.

German's report says prior to 2014, the number of PST refund applications for exported vehicles was fewer than 100 per year. In 2014 and 2015 the number jumped to over 700, before jumping exponentially in 2016 to 3,674, and rising even further to 4,452 in 2018

https://www.cbc.ca/news/canada/british-columbia/bc-money-laundering-report-eby-german-may-2019-1.5126386#:~:text=Cash%20purchases%20are%20not%20illegal,Centre%20of%20Canada%20(FINTRAC)

.

Luzifer

· #529 · 12 mo ago

Mlarco52 said:
That's crazy I had no idea that's a way to do it

Another one that's gaining popularity luxury car rental. Rent a Huracan 365 days a year. Can't seize what you do not own.

Reactions: 1

Luzifer

· #541 · 12 mo ago

Rcasa20 said:
That's exactly the reasoning I used when I sold my Michael Jordan rookie card in August of 2020 after buying it in January. Only problem is I ended up leaving a lot of money on the table even though I doubled my investment. On top of that now that I no longer have the card it just makes me sad.

Even though I don't look at my Skinny Puppy memorabilia collection anymore that's right behind me as I type I could not depart with it even if I was offered double. These items are so rare it would be impossible to get them back. Took me years and a whole lot of money went into it. I got them because I was the high bidder each time.

Reactions: 1

Luzifer

· #547 · 12 mo ago

Luzifer said:
Six more Huracans popped up for sale in one week, now at 32 on autotrader, and everyone trying to sell higher than the other dealer or private seller.
Two that made me chuckle, both 2021 Evo Spyders, asking 478K and 489K for them!

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.

Luzifer

· #550 · 12 mo ago

Huracaan said:
End of the bull car market is almost over...

There's 3 orange cars, they just have to drop reasonably. I should start preparing.

Reactions: 1

Luzifer

· #553 · 12 mo ago

Feron315 said:
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.

Slow down maybe, recession I'm not sure. I'm not talking about everyone but many people are making more money than ever working from home and that's good news for my biz at least.

I'm still perplexed why anyone worries about a recession if they can afford a Lambo.

Reactions: 1

Luzifer

· #557 · 12 mo ago

2Tired said:
Just because I can afford luxury items doesn't mean I'm going to stop paying attention to current events, the market, or stop using my collected information to make financial decisions... If someone has an asset that has appreciated, and there's a recession looming on the horizon, it only makes sense that some folks would want to maximize their gains while they can. Honestly seem rather simple to me.

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.

Luzifer

· #569 · 12 mo ago

Feron315 said:
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.

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.

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Luzifer

· #575 · 12 mo ago

@2Tired I was sharing my point of view, I do not expect anyone to adopt anything, of course not. No one is ever exactly as the same as the next guy, everyone has their way and opinion. That was my take on things.

Luzifer

· #577 · 12 mo ago

I did a quick check on car gurus, add another 4 H for sale,
Total 41 cars not counting the listings that are hard to find.

Luzifer

· #586 · 12 mo ago

2006m5 said:
Not much actually ..it only seems good in corsa mode.
I was hoping for more rawness.

Is it because of the acceleration? I read a couple times here something "a pedal commander" for the H makes it a wow factor. I have one in my sports car and it's night and day difference.

Luzifer

· #597 · 12 mo ago

Huracaan said:
It's now 41 cars on AT, seems like the number is increasing every day and we're in the midst of the summer driving season.

I think the next rate hike in a few weeks which is rumoured to be .75 will let the air out of the supercar market bubble, the rate hike that follows will burst the bubble. Hold on.

Ha I was coming here this morning to post that number but you beat me to it. Add 3-4 more on car gurus plus 1 more on consignment which totals about 45! I also noticed in the past 3 weeks Performantes are being dumped. I wonder if their respective owners are selling them for STO's or Technicas?

Prices are still outrageous and they are not selling. Strange how the dealers think they'll get uninformed buyers over paying?

Luzifer

· #621 · 12 mo ago

Driving season is almost half way gone for us. Not many people want to buy a car in October to drive it a couple days/couple weeks before storing it for 5 months. The spring sales boom has already passed and it seems slow right now with even more over the top prices, I feel they are already stuck with inventory and in a few months it will be frozen mollasses. In the mean time I car spot them around and save my money every week. Speaking of which my work week is done, no more insane clients for the next 2 days, time to go eat out and go hunt evening Lambo's.

Reactions: 2

Luzifer

· #634 · 12 mo ago (Edited)

Lambo2018 said:
Sounds like you're hoping and praying for the car market to take a nosedive.

Resistance is futile. Haha. 😈

Back to normal "ish" when I started to see many cars at 205-240K in late 2020. I am patiently waiting and enjoying the journey, especially with the events yesterday and those to come today. I relished the comments I overheard from various people walking around me while taking hundreds of pictures at a special event... Also planned from about 3-4 years ago this weekend phase 1 of 2 of my goal is achieved.

Here's a snippet of car pictures I'm going to post over the next week, stay tuned!

Automotive tire Grey Wood Font Rim

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Luzifer

· #637 · 12 mo ago

Lambo2018 said:
I don't think anyone doubts that the market will rebalance but I think as others have mentioned we still have supply constraints and high demand so, my crystal ball indicates that we are looking at least for high pricing to the end of this year and possibly into early 2023.

When the pandemic first hit I purchased a 2019 580-2 that was about a year old with 1600 miles, full frontal PPF and free shipping for $196K USD, and then soon after that things went crazy.

Interesting snippet, is that a future Lamborghini restoration project/labor of love?

I'll be ready in 2023 if this trend goes down, this year is obviously a no go.

The snippet is of a car I took pictures of last night at an event. +Not my car+. There were too many various cars to capture it'll take a while before I can post most of them. I'm returning to the event today and I shined my ride to go. I didn't want to put my car in the rain last night but I knew I was going to miss out so I had to put the alarm early this morning to detail it again.

Reactions: 1

Luzifer

· #652 · 12 mo ago

AngelOfMurci said:
Not too sure about the sky is falling… but I’m patiently waiting for the locusts, red river and some long haired dude parting the sea.

Reminds me of one of my all time favorite movie "Quiet Earth".

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