5 Easy Steps to Buy a Lamborghini.. Without Being a Millionaire
Don’t let your dream car remain a dream. In today’s market, it is 100% possible to own a Lamborghini, even if you’re not a millionaire.. And Here’s How;
1- Consider an Older Model
To be able to say that you’re driving a Lamborghini, you might have to make some sacrifices in order to get a vehicle of that brand name.
For example, you may not be able to afford a Veneno Roadster. But when you look at some of the older models, you’d be surprised at just how feasible it is to purchase one.
For instance, take a look at the Jarama or the Jalpa 3500. Both of these Lamborghinis cost under £80,000.
The Jarama costs just over £50,000 and was in production in the 1970s. The Jalpa 3500 costs a little under £80,000 and was produced in the 1980s.
While these models admittedly don’t look as sleek or smooth as the newer Lambo models do, you’ll still be driving one of the best auto brand names in the world.. For more details about this point read this:
2- Do Some Smart Financing
Instead of putting down a 10% down payment on your vehicle as normal, you’d put £0 down. This only works if you have good credit and you get a Lamborghini that’s already depreciated.
It’ll also only work if you plan on eventually selling your Lambo. Essentially, you’ll be hiring the vehicle instead of outright owning it.
Take a vehicle that costs around £80,000. If you make monthly payments of £800 per month for a few years, you’ll be at around £20,000 out of pocket. Even if you decide to hold onto the Lambo for 5 years total, you’ll still be able to sell it for about £60,000.
At the year 5 mark, you’ll have paid £48,000. This means you can drive a Lamborghini for half a decade and still come out in the green with an extra £12,000 in your pocket.
Even if you don’t sell for that much, you can still own a Lamborghini without having to pay a cent. Of course, it can be a risk, but it may be one that’s well worth taking.
Again, this strategy will only work if you have great credit. Otherwise, it may be hard to pull this off.
3- Things you should know in order to minimize your costs
Find a great independent shop near you that services Lamborghini that is not a dealership and create a relationship immediately. Here are some basic costs of dealer versus independent you should know:
Part: Dealer vs Independent Shop
Oil Change: $599 vs $299
Brakes pads: $700/Axle vs $700/all
Rotors: $3,600 vs $1,800
Clutch and bearing: $7,500 vs $4,500
The difference between the two is almost 50% in all cases.
4- Get a Car Loan
If you’re wondering how to get a Lamborghini, this is probably the most common and straightforward way to do so.
The ease (or difficulty) of getting a car loan will depend on your credit score. If you have an excellent score, you have more choices when it comes to lenders.
And when you have more choices, this also means lower interest rates. This also means you can borrow more as well. As a result, for those of you with stellar credit scores, getting a car loan to fund your dream Lamborghini won’t be a difficult journey.
On the other hand, if your credit score is mediocre or even poor, unfortunately, you probably won’t be able to qualify for a very high car loan, if you can get one at all. You’ll have fewer choices, meaning the interest rates will be very high as well.
Of course, it’s up to you to determine whether or not it’s worth taking out an auto loan to get your dream car, especially if you have less than stellar credit. But it may not be a good decision financially.
5- Look at the Gallardo and Spyder
Perhaps you’re not interested in older Lamborghini models. However, you don’t have the finances to afford a car that costs 6 or more figures.
In that case, the Gallardo or the Spyder can be great compromises.
The Gallardo was in production from the 2000s to the early 2010s and costs around £65,000. The Spyder was in production in the 2000s and costs around £65,000 as well.
Both of these Lambo models have ultra-sleek and modern designs, which means you can drive a convertible that won’t look anachronistic.