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I have done stuff on Groupon that let you drive exotic cars for $100 for 3-5 laps. In Hollywood there was a Lamborghini Gallardo that was offered around $100 to drive around the West LA / Hollywood area for about 30 min. And a small business that offered $300 for 2 hours for a Huracan. I felt the 2 hours $300 was the best deal I found so far on Groupon, and it was Huracan. Those lap places didn't have a Huracan, but then it was around 2014-2016.

But how do you figure out if owning or renting is better? If you buy it, can you truly drive it everyday? Because its a harder car to drive than a BMW 3 series or Tesla Model 3. Alot of blind spots which I could imagine making it hard to do stuff like parking in a cramped parking garage. When I rented it, it was hard to make right turns since behind the passenger seat there is no real windows and the only rear window looks inside the engine more than your surroundings.

Also, it gets tons of attention, which I feel cops would pick on you, possibly alerting their other cop friends to keep a look out on that Lamborghini, making it harder to discretely have fun with your car. Because driving this car felt like carrying around a machine gun in public, every will look at you as if you're up to something. I feel it be very boring to always try obeying speed limits, as this car is made for going faster than most US speed limits. Plus the ride is rough and loud, for all that burden, I would wanna go fast, or I could just get a normal car that isn't super loud like an airplane. I feel cops would discriminate a Lamborghini because they probably know most the owners will want to try go above the speed limit at some point.

If you just want attention, does a Lamborghini help? I bring my bunnies out in public and they get tons of attention. One time, I brought them to Beverly Hills and all the Asian tourist took out their phones like a Bugatti was passing by. I feel people think you must be decked out in LV or driving a Lambo, but you be surprised how something as simple as a bunny can draw so much attention.

Is there any other possible benefit to owning a Lamborghini? Like getting popular on social media and trying to gain revenue off that? Or networking with other high worth entrepreneurs that may ignore you unless you have a Lamborghini? Get to know famous people b/c of the Lamborghini, being invited to cool events b/c maybe another Lamborghini owner works in music industry and invites you to bottle service, album party, guest passes to music festivals? Or getting sponsored to get free stuff b/c the Lamborghini helped get followers on social media? If any of these are possible, I feel it could be justified to buy the cheapest Huracan on Craigslist and get the same cred.
 

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Is this a serious question?

Not sure if you are asking a sincere question here, but what the heck...I'll bite.

In reading your post, (particularly where you mention you'd buy the cheapest huracan on Craigslist and get the same "cred") it would seem your interest in a Lambo is to get attention.

As to rent for an hour, vs. own one...here are a few examples that may resonate:

  • Many lambo owners (myself included) grew up as "car guys" (and gals). We had posters of the Countach, Diablo, Gallardo, etc. on our walls. I suspect none in this category dreamed of one day being able RENT one. The dream was always to have one (preferably pay cash)
  • Does a business man get the same rush from being a "CEO for a day" or working hard to BECOME the CEO (I can envision Dwight K. Schrute from the Office as "Assistant to the Regional Manager)
  • Awesome, hot girlfriend (OK I won't go "there" as "renting" is illegal but clearly not the same as having a loyal, hot wife, etc.)

Again, I don't suspect your post is one where you are serious, but many lambo owners that I know are car people, and OWNING one was always the goal. It is a special brotherhood with a very diverse demographic (some with more money than you could imagine, and others who scrimped and saved to buy their dream). No kid I know dreamed of the day he could RENT one.

I remember a guy when I was young who bought a fake Rolex for $100 (we all bought one together from the same guy to be funny). I wore mine a couple times (in the same way you'd wear a fake mustache as a gag), but opted to no longer wear it for long. I never felt it was "special" as I knew it wasn't real. Sure one can "print" a realistic looking diploma that says "Doctor" and hang it on the wall, and appear as though you are a doctor. Not even close to becoming one.

Contrast that with one guy in our group who acted like he was a baller with the folex watch on. Seemed like he tried to convince himself the watch was real, and even seemed to want us to believe this as well. We weren't impressed, and it was a little awkward to witness. A watch doesn't really matter (I know plenty of multimillionaires that wear cheap watches), but for me, it was much more special when I did buy my first Rolex, which was worn by someone very important to me. The symbol of having his watch (one I still wear every day) is something I am grateful for. It isn't for "others" although I suppose I may get some "cred" now and again.

As I age, I realize that caring less what others think is a path to freedom, and caring so much what others (particularly) strangers think is a trap.

Nothing wrong with renting one and having fun for the afternoon, but not even close to the feeling of owning one.

Good luck with whatever you choose, but do it for yourself. Beware of the trap that is doing things for the outward appearance, as you find it is never enough---
 

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Great response grasshopper. I think the OP just does not get it. We buy Lambos because we love cars and we CAN. It is not to impress anyone.I drive my cars because it makes me happy. A lambo is worth many smiles per hour. So many times I get thumbs up , smiles, waves, etc. It can make even a bad day good. I can understand how he gets attention with bunnies. How do you think Hugh Heffner got so rich? Imagine a lambo and bunnies together.One kind would cause a guy swarm and the other would draw women like flies. If you had all three...............
 

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Once again Lee speaks my mind. I have nothing to add.
 
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Wow, @LamboGrasshopper not only gave you great advice about car ownership but also, and more importantly, about life. Heed his words.......the wisdom expressed is priceless.
 
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I did one of those lap events so I could try out a Gallardo. I used a Groupon. It was at a racetrack, but they set up cones in the parking lot of the race track..... The course was a square smaller than a city block. Full throttle for a couple seconds, slam on the brakes, 90 degree turn, repeat.... I think I got 3 "laps". It was interesting, and I got to drive a Gallardo hard for a few minutes. Would not do it again.

I have had my Lamborghini for 14 years. I got to show my car in shows and events all over west coast. I got to participate in Lamborghini's 50th anniversary parade in Monterey. I have met hundreds of like minded car owners and enthusiasts over the years, and made a lot of great friends. I have thrown it through the curves on countless back roads. I have learned a lot about working on cars and fixing things. I have enjoyed the satisfaction of repairing and restoring a car I think is really special. There are few things more satisfying than getting in it after a project, hearing it roar to life, and getting to experience it performing because of the work you put in. The car did impress my wife when I met her. My Lamborghini does come with a lot of headaches, but it has made a really positive impact on my life.

I don't remember a whole lot about driving the Gallardo in circles for a few minutes. I got to test drive a Lamborghini Diablo for about 20 minutes and that was memorable. The car was a really bizarre experience because it drove like nothing I had been in before. AND..... some bunnies beeped and waved at me while I was driving it.
 

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Ohlgren,the good thing is that the bunnies still beep and wave. At 60 it is mostly young guys and middle age women for me LOL.
I drove three different lambos on a track and hated it. It is an entirely different experience from accelerating onto an on ramp with people speeding up to catch you just for a picture or wave. Owning is like marrying your wife. Renting is like a cheap one night stand. Big difference.
 
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Owning is like marrying your wife. Renting is like a cheap one night stand. Big difference.
Yes but you don't have to pay alimony for a one night stand nor could an effective argument be made for palimony. So in some cases renting might be the lesser of two evils. ;)
 

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Dave Ramsey, the financial guru, is hilarious he calls Leases.........Fleeces.
 

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Leasing can make sense with the right lease and if you can expense it against your business.
True, that is one important exception. Maybe I should start delivering pizzas.🍕
 

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Leases benefit the leasing company. That is why leasing companies are so profitable. If you cant buy something than you cant really afford it. I will bet there are very few millionaires that lease much. I dont even lease equipment unless it is something we are only using once or twice. When you buy whether cash or financing, you are building equity in a real asset. Your net worth is a sum of all your assets (real market value)less your liabilities. Leasing does nothing to build your net worth.It actually reduces your net worth since you owe the lease but have nothing in return. Also there are just as many if not more writeoffs by buying. (Depending on the asset) Buying a 3/4 ton truck for example can be written off 100% the first year.(If you own your business) A lease will only allow the lease payments. If the truck was 50K and you are 35% tax bracket that is 17,500 in tax credit. So basically the truck costs you 32,500 and uncle sam 17,500. If your lease payment was 500a month , you get a measly 6K and no equity. Please tell me how that is better? If you are high earning you must search for every large write off possible. Any large asset that you can buy and get a full write off has huge tax implications . As long as the asset makes you money then why not. (As long as you are not compromising liquidity) If you want to lease a Lambo just to have one, that is your choice. It is not yours however until the lease is done and you pay the residual. You are much better off to buy an older car and pay cash or finance a small part of it. Why do you think there is such a strong market for used airplanes? You can write off the purchase and have an asset that often appreciates or at least depreciates very slowly. Those of you paying 6 and 7 figure income tax, talk to your CPA about bonus depreciation. Many people are missing the boat.
 
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You must also consider opportunity cost of capital allocation. Meaning if you tie up capital in a purchase, what else you have done with that capital elsewhere.
 

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Sorry, that should read “what else might you have done...”
FYI, you can always edit the post if want to make changes........just click the 3 vertical dots in the upper right hand corner of your post.
 

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i realize that this was a question about renting an exotic or owning.
Leasing was not part of the equation until I brought it up.
I think that long term renting is leasing so ergo insert leasing.
I have never leased and only have purchased my cars. for the same reason I would only own my home, business and cars, renting/leasing pays somebody else and you only get the enjoyment. I would rather have both.
 

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I disagree with the capital allocation idea. These are toys. You should spend money on them that is not needed anywhere else. Lots of guy during the last crash said invest your cash in the market and let the low interest loans stand. Many of them went broke or lost the lions share of their net worth. I own almost everything outright. I only borrow for low ratio short term new equipment and land. I pay off all my investments as early as possible and usually only finance equipment for 12 months max. The more you owe , the more vulnerable you are. (Cars included)
 

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I disagree with the capital allocation idea. These are toys. You should spend money on them that is not needed anywhere else. Lots of guy during the last crash said invest your cash in the market and let the low interest loans stand. Many of them went broke or lost the lions share of their net worth. I own almost everything outright. I only borrow for low ratio short term new equipment and land. I pay off all my investments as early as possible and usually only finance equipment for 12 months max. The more you owe , the more vulnerable you are. (Cars included)
Yes & Yes! I am right there with you Lee 100%
 
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