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Old 02-20-2020, 06:43 PM
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Default Considering buying a Huracan

Hopefully this doesn't go against the rules for talking about money, but I'm looking for advice on buying my first high end car relating to finances.

When did you guys get yours? I feel guilty for considering buying one. Did you own your home outright first, have multiple houses, a 6 or 7 figure salary?

I know the typical answer for anything is "when you can afford it." But what does that mean? Say I inherited a 5-600k estate. I can buy it, but should I? Or am I an idiot for not using that money to grow more wealth and then buy it? Or am I ahead of the game for being able to pay cash for it? Google searches return needing X amount of salary to be able to afford it, but I have cash and no high salary. At least at the moment.


I'm a 29 year old college student with a small nest egg and several very small investments in real estate and stocks. My income is pretty small but plenty for what I need for a happy life. I'm currently going to school to become an RN, but considering switching and going to med school. If I did that I would have a pretty hefty student loan.


Wait? Save the money for possible med school? Use it to invest? Or go ahead and buy a Huracan? Theoretically I could liquidate properties and have enough to pay off my house, buy a Huracan, and pay for school. But I can't help feeling it would be a horrible decision, as much as I want one.


If I did buy it, I'm looking at used at hoping to be out the door at 200k.


Advice and thoughts?

Last edited by Rockfish; 02-20-2020 at 06:47 PM.
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Old 02-20-2020, 10:37 PM
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I hate to give advice, because we are all so different. I waited until I had acquired financial freedom or as some call it “critical mass”. Ultimately you have to do what feels right for you and your situation. I used the thought of owning one for motivation long before I actually bought one. Hope that helps Rockfish, either way good luck. You gotta have a dream to have a dream come true.
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Old 02-21-2020, 06:46 PM
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Rockfish,
With your career ahead of you and school still to think of , I would spend less and save your money . Right now it seems like you are good but you are at the beginning of the road. Why not buy a nice Gallardo for 90 or 100 and trade up when you get a career job. Lee
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Old 02-21-2020, 09:26 PM
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Originally Posted by Lee T View Post
Rockfish,
With your career ahead of you and school still to think of , I would spend less and save your money . Right now it seems like you are good but you are at the beginning of the road. Why not buy a nice Gallardo for 90 or 100 and trade up when you get a career job. Lee
I agree. Buy a Gallardo, enjoy it for a couple years, lost practically nothing on it, then when you're ready, step up to a Huracan. It's exactly what I did(also at 29 back then.)
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Old 02-22-2020, 08:57 AM
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I third the Gallardo idea, if you get a manual you could even wind up making money off of it.
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Old 02-23-2020, 10:47 AM
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Originally Posted by Jr Mint View Post
I agree. Buy a Gallardo, enjoy it for a couple years, lost practically nothing on it, then when you're ready, step up to a Huracan. It's exactly what I did(also at 29 back then.)
Off topic, but new user to the forum. Love the color of your profile car picture, out of curiosity what's the name of the color?
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Old 02-23-2020, 11:38 AM
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Off topic, but new user to the forum. Love the color of your profile car picture, out of curiosity what's the name of the color?
Arancio Atlas. You could own it! It's a pretty rare color as I think the majority of the Orange cars were made in Argos.
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Old 02-29-2020, 07:32 AM
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I'd say you should go for it! Life is too short.
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Old 02-29-2020, 10:01 AM
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Originally Posted by Jr Mint View Post
I agree. Buy a Gallardo, enjoy it for a couple years, lost practically nothing on it, then when you're ready, step up to a Huracan. It's exactly what I did(also at 29 back then.)
I thought this was good advice. You should’ve settle for sub par, there’s too many great cars out there right now.
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Old 03-04-2020, 07:07 PM
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The Gallardo will probably not go down much or even appreciate. The huracan will drop a lot before it ever starts back up. You may have the money to buy it but not the income. Can you afford to give away 100K? That is what will happen with depreciation on a huracan. On the G , it will be very little if any. I may buy one now just because they are great buys. (I am building a new house and 5k sf shop to house the cars) I want a v12 as well but Gallardos are a great deal right now. Wise investing will make you wealthy. Frivolous spending will make you the opposite. I am never afraid to invest in assets that will likely appreciate or at least not go down. My only exception to this rule is your daily driver. It is often better to buy new and get full warranty and no problems. That is different. It is the cost of reliable transportation. It is an expense so treat it as such. Exotic and collectible cars are toys. They are not investments UNLESS you buy when they are bottoming out. I have been watching the stock market and thus car prices. Bargains galore right now. If it drops more, they will get even cheaper. My building will be done in about 2 months so the timing may be perfect. Murcies at 100k anyone? It could happen . When you buy at those prices it IS an investment, not an expense. Learning the difference could make a huge difference in your wealth and future. Unfortunately , I did not learn till my 40s. Luckily, I have made up a lot of lost ground (and then some) in the last 4 or 5 years . That could change tomorrow. The trick is to always plan for the worst. The upside will just be a bonus. Lee
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