The Truth About Buying a Lamborghini (How to REALLY Afford a Lamborghini)
The truth about how people can afford to buy Lamborghini’s…
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The truth is, spending $200,000 on exotic cars like Lamborghiniās is a terrible investment. Why? Itās a depreciating asset! Instead, there are loads of other smarter investments you can make with your money, like a rental property – and earn a 10% return each year.
Depreciating car? Or a 10% return each year? Come on, I know which choice most people would make.
However, there is an exception: buying a Lamborghini on FINANCE. I have several friends who are successful in business – and this is exactly how they purchased theirs.
How did they do it? Well, they used this simple strategy…
1)Take $200,000 of their cash, then set aside $40,000 of it to be a 20% deposit on the car (or whatever the minimum deposit is)
2) Secure a low-interest 2% loan from the bank for the rest of the $160,000
3) Take the other $160,000 they have, and purchase a rental property with it, or invest into another asset.
And the proceeds of that asset help to pay off their car too. Sort of like having your cake and eating it.
You might think this is possible if you just get a good job and raise $40,000 in a few years, but thereās the twist: if youāve got a job, banks wonāt lend you the rest of the money. Banks only loan you as much as you make in a year, so to loan $160,000, youāre going to need to earn $160,000. And there are very few jobs that earn this much.
Quite frankly, this is a classic example of how the ārich get richer.ā People who earn less have to waste more of their savings on their deposit, losing out on extra money earned by investing it into an appreciable asset. Whereas, those with more money get to invest LESS, and widen their income gap further by getting to invest more of their leftover money into other assets.
So yes, while you can save up to buy a Lamborghini with a job, most people wouldnāt spend their money that way.
Luckily, thereās another way…START YOUR OWN BUSINESS.
When it comes to owning supercars, the only people I know who own these are entrepreneurs and business owners. With jobs, there always an earning cap – since you exchange your time for money. And with only so many hours in a day you can work, once youāve given all of them, thatās it – youāre sold out. However, with business, you make money through buying OTHER peopleās time, then use those people to earn passive income.
One business we teach subscribers on our channel is Dropshipping. In case you donāt know, Dropshipping is when you open an online store, but you donāt need to purchase any items in-advance – as you only pay for the item AFTER the customer purchases.
Instead of buying stock in advance, you purchase each item individually from a manufacturer who is willing to ship it to your customer for you. Your job is to list the item at a mark-up price on your website, then when youāve purchased it from the manufacturer, you keep the difference as profit.
At the start though, youāll have to give up your free time to set up the store. And it may take a while to start making money since thereās also a learning curve. PLUS, youāre going have to start your business with your own money.
And so most people would look at this, and rather spend their evenings doing something like watching Netflix. So, they either give up, or never even try to start their own business.
But thereās people like Reynard, who doesnāt give up, spends his time and money, and doesnāt stop until heās built a successful, profitable store. And its people like Reynard that will one day have the money to buy their own Lamborghini.
How? Letās say Reynard spends 1-2 hours each day growing his store until itās making $5,000 a month. He can then go and take $1,500 of that money and hire someone to run the store for him each month instead. Now heās making $3,500 a month – PASSIVELY. Even as he sleeps, customers come in and purchase items from him.
But he doesnāt stop there. Now heās outsourced the running of his store to an employee, he uses the time heās gained to build ANOTHER store. Faster this time, as thereās no learning curve and he can just follow the formula he developed. And he builds THAT store up to $5,000 a month.
What do you think he does next? Yep, he repeats the process againā¦and againā¦and again.
Reynard has escaped the trap of spending his time to make money. Instead, he uses MONEY to make MONEY by finding OTHER people willing to exchange THEIR time to earn money.
The reality is, if youād like a Lamborghini, then a job isnāt going to get you it. Instead, invest your free time wisely to grow and start a business that can turn into a passive income source. So, one day, youāll be able to get your very own Lamborghini.
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