You guys are saying the same thing. I too would fund it and not pay cash, especially with the cost of funds right now like you both said.

IF you have the $ to pay cash, still finance it, then give the $110k you still have in your pocket to Underground Racing for an R version... just saying

 

no one is going to give you a loan on a car that is more than 5 years old though. most banks are pretty tight right now...

 

Banks are definitely a bit tougher than they were in 2007-08 but they are lightening up. We can get loans on Ferrari 360's and early Gallardos for 60 and occasionally 72 months but it tough to do those extended terms.

I think that it is actually a pretty good time to buy a Gallardo. The new car will obviously be great and likely a similar step forward as the Murcielago to the Aventador but that does not mean that the Gallardo market will necessarily be hugely impacted, particularly the early cars. the new car will likely be priced between $260-$300k, much above the pre-owned market for pre-11 cars. This is the same delta as we see between LP640's and Aventadors. The release of a highly desirable car at $400k with a $500k market price has actually strengthened the values of 07-09 LP640's.

As you are shopping for a used Gallardo, here are some tips that might be helpful.

http://edbolian.com/?p=2374

They Gallardo will always be a very cool car!

 

My Porsche was a 72 month loan. They even offered an 84 month term at 3.99% and it was a 2005 (7 years old). Good credit goes a long way. Mine was through a credit union, and I wasn't even a member until I opened a $25 "account". I did the same thing with a Viper I had earlier in the year. It was a 10+ year old car and they did a 72 month, offering an 84 month. Regular banks, not so much

 

Wow, so maybe a GTR is in my near future !!!

 

I think it's a great time to buy a Gallardo. Prices have come up a little in the last few months due to weather getting warmer, but you can still get some awesome deals. I've been considering one myself, but decided to stick with my 911 Turbo since I love the car so much.

I don't agree with that one at all. It comes down to how financially conservative you are at the end of the day. My first Porsche wasn't an exotic, but it was a brand new 996 C4 I bought when I was 23 (purchase price was about $100k). I didn't have anywhere near enough savings to buy it, but I did have an excellent job and career potential. I don't regret buying that car for a minute, even though my lease was more than my mortgage!

Now I own 4 cars, of which 2 are fully paid off, and 2 have loans, including the one on my 911 Turbo that I pay 4% interest on. I could easily pay that car off, but historically make 10%+ return on my stock investments, so I'd rather use my money to make more money.

Yes definitely!!! Why take six figures that can be earning 5% easily and use it to pay for something that only costs you 2-3% (or maybe 4%)? You're throwing money down the drain. However, for some people, it's more important to just own things outright than to have loans at all. My parents have been paying cash for everything for the last 25+ years even though they could get ridiculously low interest rates. They just like to own things outright.

This is very true. Credit unions usually offer much different loan structures than traditional banks.

 

I just don't think most people like to use that much cash at once. We really aren't talking about the extremely wealthy. I am talking about most doctors, etc. that my boss sold car's to. Most just leave it in stock and don't want to play with doing anything but making money, with their money. Just my thinking.

 

Probably two very distinct camps on this:

To people with a lot of money and/or who are very fiscally conservative, they're not worried about the impact of what $200K could be doing in the market vs messing around with a loan (if you can find an actual car loan for < 3%). Pay 3%, earn 5% isn't compelling. Aka, they pay cash and move on.

To people with less than 'a lot' of money and/or who aren't as fiscally conservative, then financing it (either via the aforementioned car loan or HELOC) might be a way to gain more playing the market.

My $.02

 

Nice! Really useful info there! Love how you kept it super clean without ad junk.

 

Yeah I actually didn't know that people were getting 3% and below interest on their lambo auto loans till everybody chimed in. That does makes sense to take it. Although, wouldn't getting a securities backed loan give you an even lower rate?

 

Thanks. Please feel free to respond and comment about your own experiences in searching for a car.

Here are a few other articles that might be helpful

Lamborghini Gallardo Production Numbers - http://edbolian.com/?p=2672

2012 Option List - http://edbolian.com/?p=2389

Evolution of the model over the years - http://edbolian.com/?p=2379

General Pricing Estimates By Year - http://edbolian.com/?p=2380

 

Now actually might be a good time to buy a used lambo.. although a few months ago would have been even better.

Most likely the "new" gallardo that will be shown later this year will be much more expensive than the outgoing model. Due to the much higher price, this will drag up the values of the Gallardos that are already on the street.

 

We bought our two daily drivers with cash. Expensive toy cars we finance. Like someone else said, free money.

 

Same boat with the wife and I. Our dailies are paid for, the toys we finance....especially since I have car ADD and change cars frequently.

We currently have a 2010 GTR that my wife picked out, she drives it near daily.

I'm on the hunt for a E-Gear Gallardo, as I'd like to her to be able to drive it as well. It's going to be my toy.

I've been told to hunt for 06+ Gallardo's when shopping for an E-Gear.

Is this accurate?

I'm looking to pull the trigger later this spring.

 

Just purchased an 06 Gallardo yesterday. Started on the hunt for an 04 but ended up changing to an 06 due to the e-gear improvements amongst other improvements.