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Old 07-22-2019, 01:22 AM
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Hello guys, kinda new here, nice to meet you all.
Many of you might have millions in their bank account and because many persons are envy when you ask them “should I buy a lambo”, I ask here.

The car is my dream since I was a kid and remained a dream untill I realised that it can be more than an expense, it can acually be an investment to boost my personal branding and my IT business.
Questions:
1. Did the car boosted your career or helped you make business better or networking?
2. I like the ideea of paying it cash but I think that I can let the money work for me so, would you recommend me to buy it cash or buying it in installments? I can easily pay it using my passive income and keep the cash.

No matter what, in few months I’m gonna buy it but I would be grateful if you guys can give me some tips and tricks. Hope to see you on the road!

Cheers!

Last edited by sebastianbotez; 07-22-2019 at 01:26 AM.
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Old 07-22-2019, 05:43 AM
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If you're in California with an LLC, call Premiere Financial. They will finance a lease which will remove sales tax at registration with lease payments deductible from your top line. I wish I new this 12 months ago...
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Old 07-22-2019, 07:29 AM
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Quote:
Originally Posted by lp640_O.C. View Post
If you're in California with an LLC, call Premiere Financial. They will finance a lease which will remove sales tax at registration with lease payments deductible from your top line. I wish I new this 12 months ago...
I’m from Romania actually. Gonna buy it on company behalf from germany to be tax free. If an european company buys gods or services from another european company the vat is 0.

Thank you for the tip.
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Old 07-22-2019, 07:20 PM
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I think buying the lambo helps your personal self esteem and rewards your achievement. I believe you should pay cash for toys but that is my personal opinion. If however a great deal came along on a car I wanted and my capital was tied up temporarily in a project, I would not hesitate to finance part of it and pay it off when the cash came back out. If you do finance , always be in a positive equity position so if you have to dump the car that it will not hurt you. I would define that as at least 25% down on a new car and 20% on an older collectible car. Good luck. Let us know what you buy. Lee
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Old 07-23-2019, 10:21 AM
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I purchased my Gallardo for a few reasons. The first being that my business is exotic car sales, repairs, performance, etc. The other reason was that I have always loved them and it was a reward for hitting some career goals. I believe it has certainly helped me from a marketing perspective and building the company's credibility especially when clients see us active in the community and participating in events. In my case it worked great, I wouldn't know outside of it being directly related to your business.
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Old 07-24-2019, 01:48 PM
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Quote:
Originally Posted by Lee T View Post
I think buying the lambo helps your personal self esteem and rewards your achievement. I believe you should pay cash for toys but that is my personal opinion. If however a great deal came along on a car I wanted and my capital was tied up temporarily in a project, I would not hesitate to finance part of it and pay it off when the cash came back out. If you do finance , always be in a positive equity position so if you have to dump the car that it will not hurt you. I would define that as at least 25% down on a new car and 20% on an older collectible car. Good luck. Let us know what you buy. Lee
Thank you for your suggestions. I’m gonna come with updates of how that turned out.

Quote:
Originally Posted by HBi_Auto View Post
I purchased my Gallardo for a few reasons. The first being that my business is exotic car sales, repairs, performance, etc. The other reason was that I have always loved them and it was a reward for hitting some career goals. I believe it has certainly helped me from a marketing perspective and building the company's credibility especially when clients see us active in the community and participating in events. In my case it worked great, I wouldn't know outside of it being directly related to your business.
Thank you for your short story. I have a IT company and I think that it might work also for me so my dream car will be not only an expense but an investment. Gonna keep you guys updated. Thanks.
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Old 07-24-2019, 03:00 PM
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I can say buying a car will definitely open new doors that wouldn't have been opened prior to ownership. First, understand that I'm not yet an owner, but I have to assume my experiences with other types of vehicles will translate well to the Lambo crowd as well.

My first experience was when I purchased a 2001 BMW M5. I joined a forum and met lots of new people who would actually give you the time of day, because I was an owner. I went to M5 and BMW specific meets and met lots of great people. I'm not 100% sure if I would have been welcomed into this social circle had I not owned the car, but I would have been the weird guy at the BMW meet without a BMW if I hadn't. The friendships I've gained from the car have been long lasting. We (my wife and I) visit friends all around around the country that we met through these meets. Many of us don't even have an M5 anymore (or it's taken apart like mine is) yet we are still friends. I have gotten work and business leads because of this too. Would any of this had happened without the M5? Maybe? But probably not.

Recently (well 2 years ago) I purchased a Lotus Exige. The same sorts of things are happening. Ownership is a bit more rare and meets aren't as plentiful as in the BMW group, but they are happening. The relationships are forming, and once again, it's because of the common ownership.

Since I've had a G on my wishlist for some time now, I have made it a point to try to strike up conversations with other Lambo guys at car shows and whatnot. Since I'm in the majority of the people who say 'I want a lambo some day' and don't actually own one, I've pretty much been given the cold shoulder, which I totally get, and I really wasn't expecting any different reaction really. And someday when I do get one and roll up to a meet or car show, I assume those same people will then accept me as a fellow owner.....for obvious reasons, and I would anticipate new friendships evolving.

So yes, the car does all those things, but it's not because it's the car, it's because we are passionate about it and want to interact with other like minded people. It's really no different than an expecting mother joining a 'moms group' or going to an ATV club meeting when you get an ATV. You tend to gravitate to people with a similar interest.

I'm not sure if that is the kind of info you were looking for or I just made an embarrassingly long post for no reason, haha. Good luck with your adventure.
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Old 07-24-2019, 03:48 PM
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The truth is that while owning an exotic car may open up new networking opportunities, it will absolutely depend on what type of business you own.

For example, if you own an exotic car sales or repair shop, you would likely gain some business when you're an owner yourself. If you own a brand/marketing company, it may help bolster your credibility with potential clients. But I can't see how owning an exotic car would directly benefit an IT company...

Best advice is buy a Lambo for yourself if you can make it happen. Buying it for the primary purpose of growing your business isn't likely to work. My opinion only.
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Old 07-25-2019, 06:04 AM
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Quote:
Originally Posted by C Alexander View Post
The truth is that while owning an exotic car may open up new networking opportunities, it will absolutely depend on what type of business you own.

For example, if you own an exotic car sales or repair shop, you would likely gain some business when you're an owner yourself. If you own a brand/marketing company, it may help bolster your credibility with potential clients. But I can't see how owning an exotic car would directly benefit an IT company...
I don't agree with this. It depends how you network. Like I said in my post above, they car may open doors to like minded individuals. I supposed there is a scenario where you buy a lambo, and start hanging out with other lambo/exotic guys. You all start talking about what you do, and you say 'I own an IT company' all the other guys might say 'wow, that sounds cool, but none of us have never, nor will ever require the needs of an IT company, but good luck bro' instead, more than likely it might be 'Oh, that is cool, I'm not happy with my current IT guy, for my multi trillion global enterprise network, would you be interested in checking it out?' or something similar. So....the car allowed that to happen. Completely indirectly, but it put you into the right place.

When I do 'car stuff' I'm in it for the car stuff. I like looking at cars, and talking about cars to like minded car people. If conversations go towards other things, as they most always do, sometimes cool networking happens. I own a mechanical design firm. People always need things designed, it's great meeting new people in new industries that open new opportunities. Did I buy the car(s) for that reason? No, it just ended up being a nice bonus.
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Old 07-29-2019, 01:03 AM
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Quote:
Originally Posted by Lee T View Post
I think buying the lambo helps your personal self esteem and rewards your achievement. I believe you should pay cash for toys but that is my personal opinion. If however a great deal came along on a car I wanted and my capital was tied up temporarily in a project, I would not hesitate to finance part of it and pay

it off when the cash came back out. If you do finance , always be in a positive equity position so if you have to dump the car that it will not hurt you. I would define that as at least 25% down on a new car and 20% on an older collectible car. Good luck. Let us know what you buy. Lee
Yes.... I saved and saved and waited for the right opportunity, paid cash. Easy sleeping
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