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You were lied to. There are virtually no lamborghinis that have ever increased in value over their original purchase price. This might work if you live in a c
by brc 14y ago
You were lied to.
There are virtually no lamborghinis that have ever increased in value over their original purchase price.
This might work if you live in a country with exceptionally high inflation - although you're still losing money (in real terms) the re-sale price might be nominally higher.
Exotic car speculation is the sport of kings - from time to time, it pays off (an orignal McLaren F1 is worth approximately double what they cost new, allowing for inflation). But plenty of 'special models' and such fail to reach icon status, and lose value rapidly.
Supercars have the steepest depreciation curves around. You would honestly do better with a portfolio of 100 sound campers than one supercar.
- sukuriant 14y agoThe idea was this. You buy a new [expensive car] and have it on loan. You pay off the loan steadily. Then, a few years down the road, you'll make it so that your loan is less than the amount of money you could sell the car for; then you sell the car. The difference is the amount of money you've made. I did the math and you wouldn't be getting all of your money back; but at the end you made a profit and you did get to drive a rather expensive car.
- brc 14y agoThat is completely wrong. In order for your plan to work, you'd need said car to increase in value more than the combined amount of: - taxes paid - storage costs - service costs - insurance costs - interest costs on the loan The car would have to do what 99.9999% of all cars on the planet fail to do - increase in value once it was purchased. Now, if you live in a high inflation country, then the car may nominally increase in value more than the loan - but you're still losing money. You wouldn't be able to, say, swap the used car for a new one, so it's not really worth more. >I did the math and you wouldn't be getting all of your money back; but at the end you made a profit and you did get to drive a rather expensive car. If you didn't get your money back, by definition you didn't make a profit. You made a loss. A profit would be where you got all of your original capital back, and then some extra after all the expenses paid. It just doesn't happen. Especially with brand new supercars.
- MortenK 14y agoSelling your car at a price above whatever is left of your loan, does not mean you've made a profit!