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First of all thanks for your service and congratulations on the goal setting. I tend to think much more like Apex and pay cash for cars vacations and toys. If you are going to finance a substantial portion of the car , you would be much better served buying a car at the bottom of its depreciation cycle. For most cars that is 15 to 25 years. Gallardos are approaching that cycle and starting to get much cheaper. Diablos 5 years ago could be bought for 80K and are now in the mid 250s. Jalpas went from the 30s to over 100K. Given your financial position you would be in a much better position to buy a Gallardo with 50% down in a few years. It would also be a good investment especially if the market turns down and everyone starts dumping. Exotic prices are VERY sensitive to the economy and stock market. If you start saving and stocking away cash now, you may achieve your goal of buying a lambo earlier and really afford it. The G is also a great car so why be set on the Huracan. Remember inflation could easily push Hs way up the ladder in 4 years. Gs are set to drop for about 5 years , level off and then go up.I would not buy a Huracan unless I could put 100K up and have reserves for maintenance . They are high enough to scare anyone so you need to have the funds for that as well. Also comp insurance on an exotic ain't cheap baby. You can start with a lambo and move up the mountain as your car increases in value.You do not have to build Rome in one day and you do not want the car to become a curse. Imagine having to sell your goal because your finances got tight. Good luck . I hope you achieve your dream sooner than you think. Lee
 

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Discussion Starter · #25 ·
My Route is simple, however it not bullet proof. I cant stress enough before embarking make sure you background is secure , this is for us 6 Figures guy. the Millioneas can kick rocks....

Back Ground (Check list)...again to each his own this is my route
1. Job secure , Yes ! set to retire by 62 (duh :)
2. Savings Established , Yes created sub accounts , as well other Banking Accounts
3. 401K , Yes well mine is called something different cuz I work for you know who , however, Yes ...secure and rock solid
4. Family $$$ , Yes have not skipped a beat yet, hell just went to Dland 3 weeks ago
5. Home , Yes
6. Cars , #3 One family , fully spec out , and 2 paid off my daily drivers.


Now... I draw my attention to Me , my wants all after Family , waaaaaaaaaay after family
when the clock hits 2am on Sunday , and I'm one with my thoughts. Only then can I say (*&^(*) it ...I'm going all in.

So with that said I'm all in , and have been all in for 5 Months. I have put away my "Toy" cash , thus me purchasing in 4 years. now we all know ...I might slip up and grab the new C63s Coup and just call it a day .. however I'm and so screwed as my daily drive brings me within eyeshot of to 2 exotic dealerships , then I snap back into staying focused
Now... this is where I need all the help I can get, or none and life will take over as I have a FP at the Exotic dealership who will help.

Family, let me know your thoughts

the Plan , get ready !!!

1. Save 60K Cash << please don't say invest , I'm already doing that with other money
2. Pull Credit score 720 , 740 or 760
3. Have on hand CC with $10K avail
4. Locate , grey Lambo H for 180K
Note* Want to keep my payments at $900 <<< again this my plan , not yours
5. Finance 120K

Note* My Salary at the time will be 115K with my debt to income hovering around 23%
And no I don’t want a G I want a H
 

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Discussion Starter · #26 ·
Wishing you all the best following your dreams..keep in mind finance companies are going to want your yearly salary to be double the cost of the car.

Are you saying I will have a hard time getting 120K financed at say 80 , 100 , 120 Months , because my Income is 115K.

if so this is good to , as I might have to rethink my down Payment?? of 60K
 

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Discussion Starter · #27 ·
Thought on 2015 H Depreciation.

2015 230K
2016 210K Current sale price, under 3K miles.
2017 200K
2018 199K
2019 190K
2020 180K

What do you think about my figures?
Note* for those of us who are doing the do , this will be helpful to know.
Guess I am trying to gauge how the market works.
 

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Your depreciation by year looks good on paper but we will see things like production numbers ,demand, and the economy can effect the depreciation


The higher down payment the better.
But with good credit and collateral like a paid off house etc. Will help obtaining the loan. And you 37 credit card history might help too lol
 

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Discussion Starter · #29 ·
Sorry! , House is not in my name. Gifted from Pops.
Thus credit report shows no House, thus Debt to income = 23%

Funny, will have around 4 Cards by the time I walk through the doors.

So guess a good question would be.

for one to finance , realistic. What should the profile look like.

2015 H , Used 190K

Down?
Purchase Price?
Credit Score?
Months?
 

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My Route is simple, however it not bullet proof. I cant stress enough before embarking make sure you background is secure , this is for us 6 Figures guy. the Millioneas can kick rocks....



Back Ground (Check list)...again to each his own this is my route

1. Job secure , Yes ! set to retire by 62 (duh :)

2. Savings Established , Yes created sub accounts , as well other Banking Accounts

3. 401K , Yes well mine is called something different cuz I work for you know who , however, Yes ...secure and rock solid

4. Family $$$ , Yes have not skipped a beat yet, hell just went to Dland 3 weeks ago

5. Home , Yes

6. Cars , #3 One family , fully spec out , and 2 paid off my daily drivers.





Now... I draw my attention to Me , my wants all after Family , waaaaaaaaaay after family

when the clock hits 2am on Sunday , and I'm one with my thoughts. Only then can I say (*&^(*) it ...I'm going all in.



So with that said I'm all in , and have been all in for 5 Months. I have put away my "Toy" cash , thus me purchasing in 4 years. now we all know ...I might slip up and grab the new C63s Coup and just call it a day .. however I'm and so screwed as my daily drive brings me within eyeshot of to 2 exotic dealerships , then I snap back into staying focused

Now... this is where I need all the help I can get, or none and life will take over as I have a FP at the Exotic dealership who will help.



Family, let me know your thoughts



the Plan , get ready !!!



1. Save 60K Cash << please don't say invest , I'm already doing that with other money

2. Pull Credit score 720 , 740 or 760

3. Have on hand CC with $10K avail

4. Locate , grey Lambo H for 180K

Note* Want to keep my payments at $900 <<< again this my plan , not yours

5. Finance 120K



Note* My Salary at the time will be 115K with my debt to income hovering around 23%

And no I don’t want a G I want a H


Glad you understand that your plan isn't bulletproof. However when you said the Millionaires can kick rocks you must have all the knowledge. The millionaires on this form has been in your situation and accomplished their goals. So for you to say what you said is very disrespectful. For them to be millionaires they most know something you don't. Acknowledging them is the best thing you can do.

Your "background checklist" is pretty on point except retirement at 62. Reason being you want a H at 45 if you opt for 120 months finance that's 10 years you guess it you'll be 55. Let's say your car is $180k sales tax let's say 9% down payment $60k after 120 months and a 5% interest rate monthly payment will be $1,444.61 that's $173,353.48 after 10 years not including insurance and wear & tear. You not gonna want to hear this but oh well invest that money. Since you already have a investing account add on that 12k a year to it.

To even get a $900 monthly payment you will need to put down $98,891 (car price $180k) that's with 9% sales tax and a 5% interest rate and on top of that 144 month term.

You'll be in a better position if you invest and save then pay cash or as you like to call it "chips". Making $115k a year and trying to finance a $180k car isn't the best idea.

Just my $0.02
 

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From what ive been reading the past few months in this forum (longtime lurker), a majority of members were advising to pay cash for the car, or at least have a very high down payment... me, personally, as a six figure guy, would have to agree, but again, that's just me personally.... also, don't let the c63 tempt you. keep your eyes on the prize. I guarantee that if you decide to break and get a different car, youll be driving down the freeway, and a Lambo will fly by you, leaving you to think, "Damn, I should've gotten the Lambo".. I don't think itll ever be the other way around.
 

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Discussion Starter · #32 ·
From what ive been reading the past few months in this forum (longtime lurker), a majority of members were advising to pay cash for the car, or at least have a very high down payment... me, personally, as a six figure guy, would have to agree, but again, that's just me personally.... also, don't let the c63 tempt you. keep your eyes on the prize. I guarantee that if you decide to break and get a different car, youll be driving down the freeway, and a Lambo will fly by you, leaving you to think, "Damn, I should've gotten the Lambo".. I don't think itll ever be the other way around.
Your so right, Im staying with my Daily Drivers keeping them well oiled and cleaned , as I bask in the "knowing" I shall join the club soon. Staying focused
4 Years .... this will be some story to tell...

I do have a ? , I am purchasing in Jan 2020.

Would a Lambo Avent be on the market for like 180K? or should I stay with (H)
 

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I hate to say it but your formula forgets Murphy who is always there to kick you when you expect it least. Why not lower your goal to something more affordable that you can pay most of in cash. Becoming wealthy is usually about very hard work and investing rather than spending. I could have bought anything I wanted but I chose the Jalpa because I love the old ones AND it was way undervalued. I am looking at Gs now because they are becoming bargains and sure to appreciate in the future. I am also considering older Murcies for the same reason. My Jalpa has more than quadrupled since I bought it. If you use cash and buy undervalued cars, you may find yourself with a very valuable asset and not stressing over the payments. The only thing I finance now is equipment at 0%(that almost does not depreciate) and Land Deals with lots of down. If you want your net worth to climb then don't spend money you don't have. Lee PS All my Hummers just keep going up in value and I love to drive them.
 

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I think you have a very solid plan.

Like others, the dept aspect makes me cringe. I would recommend just waiting a little longer and letting the compound interest and savings work for you.

Keep in mind that your car loan and car related expenses will make it insanely difficult to increase your wealth and save money once you get the car.

If you get into financial trouble with the car, you can always sell it. Keep in mind it will be a financial burden, but one you can decide to get rid of.

Those are tips that come to my mind. For now, I think this is all wild speculation. No telling what 4 years will bring. If the plan goes awry, you will just have a bunch of savings set aside and good credit.
 

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Haven't seen an update from you in 4 months.....2017 is here, and 2020 is right around the corner.

Your story intrigued me since we share a number of similarities...AND you have a plan with an end date. Now, the plan itself has as many holes as a block of Swiss cheese, but at least a framework is there. Alot of "dreamers" could take a lesson from you.

I also have a plan for a 2nd exotic, but 2016 was a rough year for me, so I'm deciding whether to extend the timeline (again), or take the $90k I have and but whatever I can in 2017.
 

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In 2020, I'd expect huracans to be in the mid to high 100's. Currently at low 200's without newer models out and perfomante release (expected this year). Most lambos I've seen do not depreciate past 50% value in their lifetime. I would expect a $240k msrp huracan to sell for $170 to $190k in 3 years.

You can easily negotiate that down as the lease cars, business expense cars, and fool cars that bought new will eat all the depreciation.

alex
 

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I will have to check back on this thread n a couple of years.
I wish yo luck

I wonder why you cant save more than 10% of your income if there is no mortgage and cc debt is low.

12 year financing is for suckers

I see the Huracan in the low $100ks in 2020, they just are too mass produced
 

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Since we will have a lot of new and returning dreamers at the end of the year, I wanted to re-set this thread.....a great example of NOT understanding how to prioritize, plan and buy an exotic.

The plan was WAY behind the ambition.

This is a favorite of mine because of how belligerent the guy was towards people making kind and thoughtful suggestions. I really wanted to see if the guy could make adjustments, but he flamed out quickly.

Dreamers come and go at a rapid pace, just the nature of the beast. Not everyone can obtain cars like these....sorry, life hits back hard.
 
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Time for an update...for new dreamers....don't be this guy. Take advice from knowledgeable people willing to give it, some of it is really good....don't act like you know the market so much better than those who are accomplishing the dream.

BTW, this is the year L2020 promised to be tearing up the streets in a Huracan or Aventador:D
 
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