Discussion
355f said:
Perhaps I'm missing something here, but who in their right mind sinks up to £100k + of liquid equity into such a depreciating asset?
I'm afraid most Lamborghinis are bought for cash. And wealth is a relative concept. The "advantage" of buying for cash is that the pain is felt once, not every month. Debatable from a financial management point of view obviously, but worth it in other ways.
Interesting quote there!
any evidence to support it.
Of the 4 ferrari dealer i do busienss with nearly 80% of cars are sold on finance
I wonder if there are some wires crossed here. Most dealers (correct me if I'm wrong) are only going to know the source of funding if the car was financed through them, or if the new owner wanders in and pays for it in full.
Dealers could easily percieve cash sourced from other financial sources, mortgages, loans etc as "cash", as they have no way of knowing otherwise.
TheLemming said:
I wonder if there are some wires crossed here. Most dealers (correct me if I'm wrong) are only going to know the source of funding if the car was financed through them, or if the new owner wanders in and pays for it in full.
Dealers could easily percieve cash sourced from other financial sources, mortgages, loans etc as "cash", as they have no way of knowing otherwise.
Fair point. But of course, the same applies to buying anything - even a litre of milk. The cashier doesn't know whether you have borrowed the money or not, but it is cash to them. My point was that there is a single instance of pain. Even if a buyer uses their home mortgage to fund a car, they won't feel it like a monthly debit on the cheque account.
Dealers will know if a car is financed in a way that requires the loan or lease to be secured by title in the asset itself (even if they don't arrange the finance) as the dealer will be receiving some or all of the settlement from the lender.
My source for the admittedly sweeping assertion that most Lambo owners pay "cash" is Lambo-power.com where the topic has often been discussed by owners. I make no comment on how Ferrari owners do it as I wouldn't know.
bund said:
mhh, apart from that how much better is the se over the normal car? I love the roof.
The SE is more fun. It feels faster, is louder, steers a bit better, handles a bit better. It is a more intense experience, but perhaps a little harder work for daily use due to loud exhaust and firmer suspension. Overall though, a good thing.
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