Gallardo running costs please
Discussion
You should always factor at least ~10k-15k first year depreciation. Even for older cars.
The problem is they can be hard to sell privately, and so there is a real posibility you'll have to sell through a dealler. And they will always want at least 5-10k. Factor in another 5-10k for actual depreciation and you get the first year 10-15k figure.
After that the depreciation curve flattens as usual, especially as you approach 3 years. The problem is at this point the car will be heading out of warranty. So the lower depreciation could easily be offset by a big repair.
New car (still in warranty) = Higher depreciation, but fixed maintenance costs. You can pretty much guess your maximum exposure.
Used car = Lower depreciation, but higher maintenance costs. Potentially open ended exposure.
The problem is they can be hard to sell privately, and so there is a real posibility you'll have to sell through a dealler. And they will always want at least 5-10k. Factor in another 5-10k for actual depreciation and you get the first year 10-15k figure.
After that the depreciation curve flattens as usual, especially as you approach 3 years. The problem is at this point the car will be heading out of warranty. So the lower depreciation could easily be offset by a big repair.
New car (still in warranty) = Higher depreciation, but fixed maintenance costs. You can pretty much guess your maximum exposure.
Used car = Lower depreciation, but higher maintenance costs. Potentially open ended exposure.
che6mw said:
I'm 27 years old and in the enviable position of having paid off my mortgage. I'm a car nut and having sold my own motor a few months ago the family is down to just the 5 door family car. Now is the time to choose something for me. I've driven most cars, except the real super exotics (although I have driven a Gallardo once, but sadly not on roads which allowed me to do anything with it).
From a financial point of view I could afford to buy one tomorrow. But as much as I love these cars I don't like the idea of just burning money. So if the running costs are 'reasonable' then I'd more than happily consider it. But if we're talking services costing tens of thousands then I'd rather have my money elsewhere.
Matt
Matt - I hope you dont mind me asking , but to have no mortgage at 27 and to be considering a Lambo - what do you drive now ? And do you have your own busines/who do you work for, I am 24 and would like to think I could do something in the next 3 years that would get me into this sort of position...no mortgage ! that would mean getting myself £180k in the next 3 years !
dtmpower said:
Matt - I hope you dont mind me asking , but to have no mortgage at 27 and to be considering a Lambo - what do you drive now ? And do you have your own busines/who do you work for, I am 24 and would like to think I could do something in the next 3 years that would get me into this sort of position...no mortgage ! that would mean getting myself £180k in the next 3 years !
From personal experience. Scarce skill, and luck.
You can get away with just good luck. But talent on its own doesn't always get you there.
dtmpower said:
Matt - I hope you dont mind me asking , but to have no mortgage at 27 and to be considering a Lambo - what do you drive now ? And do you have your own busines/who do you work for, I am 24 and would like to think I could do something in the next 3 years that would get me into this sort of position...no mortgage ! that would mean getting myself £180k in the next 3 years !
I currently drive a 2 litre Toyota diesel!!!!!! Bet noone would have guessed that!!! I've had some nice cars in the past, but nothing at the moment - we're down to just our family motor.
Sadly don't have my own business, though that would be the ideal. We just timed things right getting in and out of the house price boom. So I've ended up in a nice house, about to be mortgage free, with some lump sum cash to invest and spend. With all other expenditure covered and a tidy portion into savings each month that leaves me with ~ £1000 a month just to play with and this seems like a good point in my life to consider satisfying my petrolhead side a little.
Hence my questions on the Gallardo. I'm far from mega rich, and possibly not rich enough to consider running a Lamboughini ... but we only live once, right?
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