Year: 2005
Make: Lamborghini
Model: Gallardo
Price: $240000
Mileage: 2900
Color: Black
Private or Dealer Listing: Private Listing
Location (State): TX
Transmission: Manual
Drivetrain: 4WD & AWD

I leased my 2010 GTR so I could write if off for my business. It wasn't much different paying it off (from say a bank) when I sold it earlier this year. I obviously never intended to turn it in.

I've paid cash for the rest of my cars, but when you sell frequently, I'm not sure it matters much if you lease, loan, or pay cash. You're going to lose money one way or another

I considered leasing a new 2011 SL but backed off due to the depreciation hit I'd take when I sell a year later.

 

I was thinking along the same lines as you Jamie. It seems to make more sense to lease a high end car if you know how to invest the money that you save from not putting a down payment & lower monthly payments.

With leases I believe some require 1st & last month payments up front(some do not require if you have excellent credit) depends on the leasing co. I guess.

It really does not matter if you lease or purchase a car when it comes to write offs,you can deduct the mileage or depreciate the vehicle.

Leasing seems like a good option if you can afford the car,some people tend to buy more car than they can afford & this can get them in trouble if they ever break the lease.

 

Again sorry for the off topic Peter.

 

Leases are a bit easier to account for when writing them off....otherwise you are right, you have to calculate depreciation, etc. My accountant wouldn't let me write the whole car off anyway (50% max), since my business is mostly out of state, but there are lots of ways to maximize a car deduction.

I leased my 2010 GTR for $1300/month w/tax no money / deposit down. It was a 15 minute transaction over the phone.

I think most will say the 'smartest' thing to do is buy a 1-2 year old car with cash so you minimize the depreciation hit - but that's not always possible given the car you want, etc.

So Paulie, using my above example, buying Peter's car for $210k cash would be the 'smart' thing to do vs leasing a new 2011 Turbo S.

 

I have a hard time writing a check for a car when I can get 2-3% financing from my credit union.

After taxes & fees(financial adviser) getting 8-10% return on money is not that hard to achieve. I like to use OPM (other peoples money) when i can make a better return on mine.

I agree on Peters car, but I have a hard time walking by the garage with the GT2 that nevers gets much driving time much less a TT Lambo just sitting there.

 

Paulie, you don't drive the GT2 b/c it's slow, if you had a fast car in the garage you would find yourself driving it more! hehehehehe I'm only kidding, thanks for bumping my thread!

Peter

 

Peter, any car compared to yours is slow,but they go the same speed when sitting in the garage,only difference is mine cost less to sit. I'm only kidding,your welcome for the thread help.

 

have you ever pushed this car flat out on a straight? i'm curious what the top speed would be. I gotta guess at least 230mph if not closer to 250. 1500whp is just insane.

 

The car is gear limited to 243ish.

 

I have had a lot of questions/interest but no bites. As luck would have it Kevin has found me a 2011 LP570 SL 6-speed. Due to this find, I'm willing to negotiate in the near term. Please let me know if you have a serious interest and would like to work out numbers. If the 2011 SL sells from under me b/c I'm not ready, I will simply wait for the next one. Turns out they are NOT as rare as 08 6-speed SL's.

Peter

 

wow. bet it pulls up there like a freight train

 

I know they pull very hard to about 205 mph. Haven't had a chance to push any higher.

 

I don't think I've had her over 200......on second thought, I've barely put 200 miles on her!
Peter

 

Drive that thing otherwise it is very expensive garage art.

 

Peter who put the extra 900mls on her? You bought it with 18xxmls + 200 stated mls = 2000mls total. I thought your For Sale ad said 2900mls.

Just sayin..
Year: 2005
Make: Lamborghini
Model: Gallardo
Price: $240000
Mileage: 2900
Color: Black
Private or Dealer Listing: Private Listing
Location (State): TX
Transmission: Manual
Drivetrain: 4WD & AWD