Where can we get a loan for used Ferrari or Lamborghoni?

[Anonymous]

My step-father owned a Ferrari at one time, an older Ferrari 328. The maintenance is not as bad as many think, if you do it yourself or small specialist garages. Many exotic cars are not out of reach for many average income. New and one as a daily driver is. But if you paid cash for your daily drivers, financed your weekend rides. Most could easily afford a Ferrari, Viper, Lambo, Aston, etc.

If your concerned about maintenance, get on a good forum (I can pm you some). They can recommend easier models to work on, that also mean less pricey maintenance. Also get a car with three pedals and a stick. More fun, cheaper on up keep.

I have no probliem driving an early Miata... While I have a Triumph Spitefire on the weekends, or any other classic car...

~Steven

[Walt_K]

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@Red1Blue wrote:

I totally agree with the input from everyone on the cost of the maintenance for these cars. I am also going to consider porche before I move up to Ferrrai or Lamborghoni. I think there are quite a few maintenance places in NJ for Ferrari and Lamborghoni. I'll go some time to these mechanic places and find out the costs and check them out.

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I've always thought Lotus was pretty slick looking and well within reach.

[OnTheRebound]

I saw a TV show once where they said an oil change was $2700.00. I forget what a set of tires cost. It was some outrageously rediculous price. Thats why I said in my OP you could buy a damn decent used car for the price of an oil change.

[Anonymous]

Bank de America can offer financing for exotics and weird vehicles if you have a "nice working relationship" with any of their branches. Trust me on this...

[Anonymous]

Have you considered borrowing against positions in your brokerage account? If, for example, your holdings are worth $500K, your broker will typically lend you up to $250K.

Advantage: very low interest rates. Also, as long as you make the interest payments when they're due, there's usually no requirement that you pay down your principal.

Disadvantage: if the value of the securities that you've pledged as collateral should drop below your brokerage firm's "maintenance level", you'll get a margin call - a request to make an immediate cash deposit to your account. If you can't do this within 72 hours or so, your broker will sell some of your securities to raise the required cash.

[shnxx]

Interesting thread.

I'm also thinking about getting a loan for a used Lamborghini.

[j_casteel]

nvm

[Smooth954]

Getting 150k financed don't seem that far fetch. Only the issue of the year the vehicle may be are the condition as there is plenty of vehicles that with options tops 150 the 2014 s-class starts at 90k+ and with options can easily top 150k with out even adding a amg package. Land rovers can top 120+ etc... But those are newer model vehicles but I would imagine a exotic LTV would not be much far off for the fact that the depreciation on these vehicles are at the slowest rate in the auto industry and some can even appreciate. 

[Legen_dary]

I will probably be in this boat in a few years haha. Esp since I'm not planning on having kids until my early 30s

[Shogun]

I've been looking at older model Ferrari 308s.  Just dreaming.  I have the means to purchase, but cant let go of the money.