I should've mentioned it in the video, but I obviously forgot to mention it. I chose not to talk about taxes, interest rates and credit because there are just way too many variables to this kind of stuff. The goal of this video was to focus on the numbers that would be more or less consistent for everyone with a car like this. Again, if you're in a position to purchase a vehicle at this price point, I'm going to assume that you have a decent grasp on what those costs will be. Thanks for watching!
Be careful if you go for an Aston. My dad's boss bought one (he normally leases) and drove it around for a few months but then when he wanted to get out of it, it wouldn't sell. You didn't mention the smaller resale markets for exotics. Obviously it was a slight annoyance for him because he makes $30 million usd a year but if you can't afford to pay the car off fully then I'd stay away from the Aston's.
Hi, I am very interested in having a life where I can afford the cars I really love, not so that I can be recognized because of what I have, but to really enjoy them. I am 16 years old and I want to make enough money to get that lifestyle, can you give me an advice?
I feel like there is very little automotive content/information that is Canada specific. Thanks for filling that void, can't wait to see what you do in the future.
Seriously appreciate the down to earth manner of your videos. You nailed it once again with this one. Super interesting and to be honest it's the first time I've heard someone talk about the ownerships like this on UA-cam! Thanks for the insights!
Josh, thanks for the video. However, you forgot to consider sales tax. If you consider our 13% HST, that would have brought your initial purchase price to $356k. After getting back $269k upon sale, your monthly running cost is actually about $3,600 per month. On another note, if the liberal's 10% luxury tax on cars, boats and planes eventually goes into play, the theoretical monthly cost of the same transaction would have been about $5,100 per month ($122k of total loss). Cheers.
I traded my Nissan GTR towards the Huracan which made for a significant tax break. There are a few variables to taxes and how much of those taxes you may or may not be able to write-off. It also varies from province to province and country to country. I'm by no means a tax expert, and I figured it was far too complicated to try to explain and breakdown all of that in a video that wasn't an hour long. Again, if you're in a position where you think you can afford something like this, you should have an idea of what those costs could be.
@@carproblems8547 Yea I agree. Just wanted to make a point that you made it sound almost too good to be true. I also have one of those quick depreciating C63s that you made fun of, which I traded a GTI for :p
I appreciate you coming out with these videos. Keeping it real and I like that. Keep up the good work, and I was a subscriber before you blow up to one million subscribers!!!
It's always nice to see an educated approach to this type of thing. Like many, I was brought up with the "don't finance your toys" mentality, a view that was probably correct for a certain period of time, but that may be a little myopic in the modern world as long as you approach the financing intelligently. That said, I've taken the sometimes painfully patient approach of saving / buying for the most part. It took me ~3 years from the point of being serious to actually buy a 15 year old Gallardo last year. When I did though, I paid well under the market for a gated manual car that had a clean title, but needed just a little love mechanically. I'd done all the research and paid a little extra in the PPI for a compression test to rule out anything potentially catastrophic brewing, then paid about 80% cash for the car, financing a small amount to maintain some liquidity in case something bad went wrong (liquidity within the discretionary budget for cars). I've done all of the work on the car myself to refresh it and plan to enjoy it for quite a few years and lose essentially no money because of the rarity of the transmission option. (It's stereotypically bright yellow *giallo halys*). That said, I'm also that case you describe being a keeper of things, so it probably makes more sense for me to buy something vs. if I were planning to move on in just a year or two. Pardon the epic comment, great video, keep it up!
Far as i'm concerned alls I learned from this video is, you don't have money, when you have a garage full of expensive exotic cars. YOU HAVE MONEY WHEN YOU'VE GOT A GODDAMN PLATFORM TO STACK MORE ON TOP OF EACH OTHER!!!!!! FUCKIN LOVE THIS GUY LOL!!! KEEP KILLING IT MAN!
Great job man! Love this kind of videos, very interesting and rare information! Keep this great work Also: I think in markets like London, where there are a tone of each car, the spec (High spec, and more important, good, popular and sensible -like colors) is a real important part on the reselling process
Yeah man I feel you. I just buy all my super cars with cold hard cash. Then I give them away when I’m done with them. It’s a every other day thing for me
15:05 I currently own a M4 Comp, and you are 100% spot on with the depreciation, but I feel as if you have to take into account the mileage that you put on the vehicle. Yes the M4 depreciates just as heavily as the huracan but I get to put 40,000 miles on it. Basically If you don't mind me asking, how much mileage did you put on the huracan? Just wondering. Love the content btw! Keep up the work.
You're 100% right on mileage, although even with low mileage, that type of car still depreciates a lot. Something like a Huracan is not a daily driver. I would also expect that if you're buying a car like this, it isn't going to be your only vehicle. By the time I sold it, it was very close to being the highest mileage one for sale, but was nowhere near 40k miles.
It's funny because here in the UK, if you were to want to drive an exotic car. It actually works out cheaper to buy it and sell it after a year-18 months because as you said the monthly cost is not that much. Renting an exotic car for a month would cost more than this.
Just watched about 6 videos of yours and I'm liking the content. You seem like a chilled out honest guy. I'm hoping that one day I can be in the same position as you! New subscriber here!
In Belgium, it’s the taxes and insurance that makes owning a high end performance car very expensive... and then, the tyres as at least a set per year will be needed if you want to use it - closer to two, if you need winter tyres - and that was a minimum. For me, it was a daily driver, so... tyres were a big part of the expenses... (for about 20.000km/year)
Your depreciation on the Huracan is what I paid for my '13 C63 sedan with 42K miles in great condition plus tax. The gas mileage hurts a bit but I expected it. I pray there are no mechanical issues until at least 100k miles. It had 2 owners when I got it and just out of warranty. Can't get one on an AMG and it would be too expensive anyway. No issues so far and I didn't get it as a track car.....less expensive ways to go faster. Loving it on the freeway/open roads. Isn't it crazy on the AMG.....$90k US in depreciation first 2400 miles. You won't lose much on the C7 ZR1 if you replace it with that. May go up after a while. Still think you should keep the Huracan if the next one is turbo. It'll hold its value too. Look at the 458 Speciale.
Something also to take into consideration is if you're losing $16k+ per year in depreciation swapping cars around, by the end of 10-12 years you could have instead bought a $200k~ car in the beginning and saved yourself likely $100k by just keeping it. Instead you end up owning nothing in full. So it really comes down to do you want to "borrow" 5-6 cars for 10 years or do you want to own 1?
You're 100% right, and if you're buying your "dream car", then by all means you should keep it. I'm at a point where I can afford it and choose to experience different cars, so after 2 years, I'm usually happy to sell it off and experience something new. Is this the most financially wise decision, probably not, but neither is buying a Lamborghini in the first place lol! You also would be taking on more significant servicing and repair costs in the long term with a car like this, especially once it's out of warranty.
@@carproblems8547 Lambo offers the warranty you can purchase after the initial falls off right? I know that Ferrari does, and I think they charge $5k/year for that or less. Also I think in your case, buying the car was in fact a financially wise decision with the content. Question on that, I do UA-cam also on a smaller scale (large community outside of UA-cam though), and I am considering using my BMW M5 and maybe a Mclaren 600LT for video content, do we have tax deduction options from using them on the business? Thanks man and loving the down to earth content. I'd love to collab sometime in the future when I build up the new channel.
Insurance cost depends often on the amount of the cars which are driving on the roads. For example, there are a lot of VW Golfs out there driving around and causing crashes, but Lamborgihnis are obviously rarer, so these types of cars aren’t as often involved in accidents as normal cars. So the insurance company pays god knows maybe 150k per year for all the insured Lamborgihnis and probably 600k a year for all VW Golfs. I know this, because the father of a friend of mine had a Bentley Continental GT and he also said that the insurance was cheaper than for a normal car. BTW this isn’t exclusive for Canada, I live in Germany and it’s the same thing here.
You must not live near or around Toronto or anything associated with the GTA? I'm in Halton Hills and for my cars I paid I feel half-decent for my Hellcat Viper at my SRT-10 Ram but again I am not Associated or part of the GTA if I were to move to Brampton I'm looking at paying close to $15,000 a year & if it's just for pleasure use you will also pay a lot less
Could you do a thoughts on leasing vs buy video? I was looking at getting a mclaren. It snows almost half the year where I am similarly to Canada and I also only keep cars for 2-3 years. I work full time and travel quite a bit so the mileage restriction wasn’t going to be an issue. It’s less money down and all the maintenance is taken care of for the lease term so Ive been considering it. But being mid 20s I might be overlooking something
I'm in the same boat as you! i'm actually looking to get into a 570s or a huracan but so far all the depreciation values quoted to me were so low causing the lease payments to be very high
I agree. The whole lock down situation doesn't exactly allow for that at the moment though. Also, driving and trying to remember numbers probably wouldn't have gone so well for me lol
You know you’re absolutely right, I like how you think about this whole topic and that you should meet my father to explain this to him.😂 But other than that i mean you’re truly full of valuable and logical information, I appreciate your honesty and transparency and god bless you.🙏🏽
$1200/year for a $300k car for service isnt that bad. I take my $30k mazda to service every 4-6 months. so could be 2-3x a year. Its around $100. So $200-$300 a year for a car that costed 10x less.
Keep in mind that this was a new car and still under warranty, so all of the servicing within that period isn't going to be super expensive. Once you're out of warranty and the car is 4 or 5 years old, that's when it will require what you could classify as a "major service", which depending on the car can be significantly more expensive. So you kind of play that game with either paying more for a newer car with less to worry about and lower servicing costs, or pay less for used/older car and potentially have much higher servicing bills. Again, every car is different, do your research.
Thank you so much for sharing your experience. You have a really nice car collection. May I ask if you would suggest lease or finance on an exotic car?
Absolutely! I was planning on doing that this week, but it has snowed for the last 5 days... The weather was really nice and then decided to go back to winter.
I see what you're saying about the peace of mind of spending the money up front but at the same time it doesn't make much sense in regards to a Gallardo. The Gallardo is less than half as expensive as that new Huracan, so the monthy payment would've been less than half of what you were financing the Huracan for. If you got a good PPI on the Gallardo your chances of a big repair bill would be miniscule if the clutch was recently done which would be in the area of $10-20k. You also would've lost roughly nothing in depreciation since the Gallardo is at the bottom of its depreciation curve. You lost $2k per month in depreciation, plus a little bit more in your monthly payments. So we can say it's safe to assume you lost around $50k minimum. If you did this same scenario with the Gallardo you would've lost virtually nothing besides running costs (which you didnt take into account here) as long as you didnt have to replace anything major which more than likely wouldnt have happened because a PPI would've prevented you from buying a car with those major things close to needing repair. Stradman replaced the clutch on his in his 4-5th year of ownership which cost around 10-20k im not exactly sure how much, but other than that he only paid for routine maintenance which costs a little less than what you were paying for the Huracan maintenance.
Right now, I agree, the Gallardo would be the better buy. Going back to the time I bought this Huracan, it had only been available in the country for about a year, so Gallardo prices for the most part were still up there compared to where they are now. Nothing about what I did was necessarily financially wise, but I feel like the choices I made resulted in the best possible outcome considering what it was. I also, don't care much for the Gallardo if I'm honest and really had my heart set on the Huracan.
Honestly, if all you care about is minimal depreciation on a new car (or any car, technically), get a special edition. Yes, it costs way more, but that's because it's rare, so will also depreciate less.
If you can get something like that for list price, absolutely, the issue is actually getting one. If you can get a special edition Ferrari as an example, it's totally worth it because they almost always are in super high demand which holds the values up and often even appreciate. However, unless you're allocated one of those cars from Ferrari, you'd have to buy one in the resell market and pay significantly over list for the car, at which point you're not really saving yourself in regards to depreciation. The issue with the more limited variants is that the highest price examples are cars that basically have delivery miles. Again, it depends on the car, the market and how much you cam get the car for in the first place.
I'm pretty sure fixing the AMG is more expensive than the Lamborghini it terms of real expenses Lambo expansiveness comes from the rarity + brand name but AMG labor is so much expensive and slightly damage can destroy a lot of expensive tech in the front Huracan being mid engine where the expensive parts are slightly safer in cases of small crashes unlike the AMG with cramped front bay
Okay now I'm sure quite a few of us would like to know what you do for a living what line of work? Love the videos also keep up the good work and given us the knowledge stay safe you and the family
The perfect financial move would be to buy a used super car with a transferable extended warranty. Not sure if these kinds of cars typically have extended warranties ??
hey now that you drove the AMG GTR would you ever consider getting the GTR Pro? and also if you have driven a GT3 RS or the M4 GTS, could you shed a little insight on how you feel those cars drive. im a physics modder for driving simulations. and i can get all the factory data correct with the PDF files that some manufacturers will allow to be released but some ive just done my best at what i think it would drive like. i owned a valet company in grosse pointe for 6 years. co owned i should say. and i got alot of chances to drive super cars after building relationships with these clients, since we did privet partys only. dreessed in a suit and tie ect,... and they all knew i was a mechanic for a litle over 6 years. so when they said test my car out. i treated them with respect. a few cars i got to try was the Ferrari FF&458 , 911 turbo s./ 2010 era GT3 RS. viper ACR and a Falcon F7 to name a few. those were the big hitters, M series cars and most AMG models short of yours were like uiltra sports cars or low end super car. but personally i consider the GTR a super car. but of the cars you owned im just wondering like what where your favorites and why? how did it handle? was it balanced? was it just sheer acceleration that gets your hear going ect.. sry for the long one. if its too much ill try again maybe with a more concise and direct question on a future video. ty for the content.
Maybe I missed it, but how much did that wicked wrap cost? Great down to earth video, with much needed Canadian content! Are we seeing the beginnings of a Canadian Shmee150?
Let's just say it wasn't cheap, but it was extremely well done. I'm good friends with the people that own the wrap shop, and I'd rather not put out prices that they've quoted me on a job like this. What I will say is that a well executed wrap isn't cheap.
I found a used BMW I8 for sell for $65k USD with less than 16,000 miles. Here's the part that I flipped over, the only thing wrong with the car is that the pervious owner was an idiot and messed up the Special Paint then wrapped the car himself using super glue....
In my country, VAT on a 2 door supercar is somewhat around 841% 🙂 Yes, that's 841%, and that piece of information I had verified from the social media account of VAT Detectives of my country. 🙂 So whenever you talk about depreciation, I plain laugh. I am from Bangladesh, btw. If there was not this absurd amount of vat to be paid, there would probably be a lot of Bugatti and Lamborghini rolling around. You have to pay around 200% of VAT if you want to buy a bloody 125cc motorbike.
What about the large tax bill? 13% tax on 300k is a significant expense that doubled your ownership costs. Please let me know as I was interested in the car! Thanks
I traded my Nissan GTR towards the Huracan which made for a significant tax break. There are a few variables to taxes and how much of those taxes you may or may not be able to write-off. It also varies from province to province and country to country. I'm by no means a tax expert, and I figured it was far too complicated to try to explain and breakdown all of that in a video that wasn't an hour long. Again, if you're in a position where you think you can afford something like this, you should have an idea of what those costs could be.
You didn’t account for 13% hst tax in your formula. Because when you sell car back to dealer , they don’t give you tax back. So it’s $315 + 13% hst = $355k. You didn’t account for extra $40k in cost for tax. Your cost to run should be $43k + $40k= $83k. That’s almost double then what you quoted. Pls correct me if I’m wrong. Thanks
I traded my Nissan GTR towards the Huracan which made for a significant tax break. There are a few variables to taxes and how much of those taxes you may or may not be able to write-off. It also varies from province to province and country to country. I'm by no means a tax expert, and I figured it was far too complicated to try to explain and breakdown all of that in a video that wasn't an hour long. Again, if you're in a position where you think you can afford something like this, you should have an idea of what those costs could be.
Only thing you haven't factored into your deprecation cost is the mileage you've put on.. $1900/month isn't bad for a Hurracan but you most likely didn't put more than 8000kms each year. So your total cost per km would still be higher compared to the range rover as the range would probably drive 15-20k per year.
You're 100% right about that, but this also isn't the type of car that you would daily drive. Also, if you bought a Range and didn't drive it for two years, it would still do a ton of depreciation. It was just an example of how most luxury cars that are a lot less expensive in terms of price will depreciate around the same amount over a 2 year span.
I never understood why cars depreciated when driven out the lot. Logically if you sell your car the minute you drive it out the lot, nothing was damaged or overused, why should it depreciate by 30-50%?
Same, but I wonder in a situation like this its not so much the depreciation but the markup. The salesman always wants a cut so if he can buy the car back cheaper it helps ensure a profit margin on resale and keeping business going.
@@jemmrich that is understandable in my opinion, but I think it is something far more problematic when it comes to depreciation. If they used the -40% price difference just to make profit and resell it for a higher price. (Especially in a Supercar/Hypercar market) seem to send the car industry in a path of; shit I cant even explain it.
@@jemmrich what I think is that cars should be left to price check from future customers not media or baseless depreciation tactics to sell the car for way less than it (looks).
I should've mentioned it in the video, but I obviously forgot to mention it. I chose not to talk about taxes, interest rates and credit because there are just way too many variables to this kind of stuff. The goal of this video was to focus on the numbers that would be more or less consistent for everyone with a car like this. Again, if you're in a position to purchase a vehicle at this price point, I'm going to assume that you have a decent grasp on what those costs will be. Thanks for watching!
Be careful if you go for an Aston. My dad's boss bought one (he normally leases) and drove it around for a few months but then when he wanted to get out of it, it wouldn't sell. You didn't mention the smaller resale markets for exotics. Obviously it was a slight annoyance for him because he makes $30 million usd a year but if you can't afford to pay the car off fully then I'd stay away from the Aston's.
Hi, I am very interested in having a life where I can afford the cars I really love, not so that I can be recognized because of what I have, but to really enjoy them. I am 16 years old and I want to make enough money to get that lifestyle, can you give me an advice?
Where did you get the sparco chair
We miss nothing. I quess theres price is to relevant to uncover actual number so you save for both off us time. :D
DUDE some of the best car content in the game. Seriously these guys are way to weird and your one of the only normal ones. Love your videos.
True, I hate how fake happy these others are, too hiped up for nothing really......this dude is real....I even feel like I can own one myself someday
Stradman gets over hyped but I still like him he’s always positive
damn what we really want is a video on how expensive this exotic chair is
spend too much money on car... no money left to the chair.
I feel like there is very little automotive content/information that is Canada specific. Thanks for filling that void, can't wait to see what you do in the future.
That is the best way to own a car!! Drive it for a couple years enjoy and try a different one.
Karrar Al-Bahathly, I agree
Love the "down to earth" content you've been putting out! Keep it coming, it's awesome to hear the true experience of owning exotic cars!
Seriously appreciate the down to earth manner of your videos. You nailed it once again with this one. Super interesting and to be honest it's the first time I've heard someone talk about the ownerships like this on UA-cam! Thanks for the insights!
Josh, thanks for the video. However, you forgot to consider sales tax. If you consider our 13% HST, that would have brought your initial purchase price to $356k. After getting back $269k upon sale, your monthly running cost is actually about $3,600 per month. On another note, if the liberal's 10% luxury tax on cars, boats and planes eventually goes into play, the theoretical monthly cost of the same transaction would have been about $5,100 per month ($122k of total loss). Cheers.
I traded my Nissan GTR towards the Huracan which made for a significant tax break. There are a few variables to taxes and how much of those taxes you may or may not be able to write-off. It also varies from province to province and country to country. I'm by no means a tax expert, and I figured it was far too complicated to try to explain and breakdown all of that in a video that wasn't an hour long. Again, if you're in a position where you think you can afford something like this, you should have an idea of what those costs could be.
@@carproblems8547 Yea I agree. Just wanted to make a point that you made it sound almost too good to be true. I also have one of those quick depreciating C63s that you made fun of, which I traded a GTI for :p
I appreciate you coming out with these videos. Keeping it real and I like that. Keep up the good work, and I was a subscriber before you blow up to one million subscribers!!!
Love ur content keep it up from South Africa 🇿🇦
Hey, I'm from SA too!!
From SA too
Awe
Man.. I am sorry for the 200ping on fortnite ping there....
Awe
Absolutely amazing videos. Stumbled on this channel one day, and honestly could not stop watching!
Alexander Hwang same ahah
Me as well
It's always nice to see an educated approach to this type of thing. Like many, I was brought up with the "don't finance your toys" mentality, a view that was probably correct for a certain period of time, but that may be a little myopic in the modern world as long as you approach the financing intelligently. That said, I've taken the sometimes painfully patient approach of saving / buying for the most part. It took me ~3 years from the point of being serious to actually buy a 15 year old Gallardo last year. When I did though, I paid well under the market for a gated manual car that had a clean title, but needed just a little love mechanically. I'd done all the research and paid a little extra in the PPI for a compression test to rule out anything potentially catastrophic brewing, then paid about 80% cash for the car, financing a small amount to maintain some liquidity in case something bad went wrong (liquidity within the discretionary budget for cars). I've done all of the work on the car myself to refresh it and plan to enjoy it for quite a few years and lose essentially no money because of the rarity of the transmission option. (It's stereotypically bright yellow *giallo halys*). That said, I'm also that case you describe being a keeper of things, so it probably makes more sense for me to buy something vs. if I were planning to move on in just a year or two. Pardon the epic comment, great video, keep it up!
Honestly, I can see this channel grow exponentially in the next year.. the content is GOLD. Only watched 3/4 vids so far but, man.. had to sub.
Far as i'm concerned alls I learned from this video is, you don't have money, when you have a garage full of expensive exotic cars. YOU HAVE MONEY WHEN YOU'VE GOT A GODDAMN PLATFORM TO STACK MORE ON TOP OF EACH OTHER!!!!!! FUCKIN LOVE THIS GUY LOL!!! KEEP KILLING IT MAN!
Lamborghini Huracan is really reliable from what I’ve seen. Royalty exotic’s Huracan has 200k+ miles on it and it’s still running like new.
Great job man! Love this kind of videos, very interesting and rare information! Keep this great work
Also: I think in markets like London, where there are a tone of each car, the spec (High spec, and more important, good, popular and sensible -like colors) is a real important part on the reselling process
Love your content Josh. Big ups from Oakville!
Yeah man I feel you. I just buy all my super cars with cold hard cash. Then I give them away when I’m done with them. It’s a every other day thing for me
15:05 I currently own a M4 Comp, and you are 100% spot on with the depreciation, but I feel as if you have to take into account the mileage that you put on the vehicle. Yes the M4 depreciates just as heavily as the huracan but I get to put 40,000 miles on it.
Basically If you don't mind me asking, how much mileage did you put on the huracan? Just wondering. Love the content btw! Keep up the work.
You're 100% right on mileage, although even with low mileage, that type of car still depreciates a lot. Something like a Huracan is not a daily driver. I would also expect that if you're buying a car like this, it isn't going to be your only vehicle. By the time I sold it, it was very close to being the highest mileage one for sale, but was nowhere near 40k miles.
Car Problems thank you for clearing that up!
Love the setting of the past couple videos
My friends and I always love watching your videos. Keep working hard🇦🇺💪
It's funny because here in the UK, if you were to want to drive an exotic car. It actually works out cheaper to buy it and sell it after a year-18 months because as you said the monthly cost is not that much. Renting an exotic car for a month would cost more than this.
Just watched about 6 videos of yours and I'm liking the content. You seem like a chilled out honest guy. I'm hoping that one day I can be in the same position as you!
New subscriber here!
In Belgium, it’s the taxes and insurance that makes owning a high end performance car very expensive... and then, the tyres as at least a set per year will be needed if you want to use it - closer to two, if you need winter tyres - and that was a minimum. For me, it was a daily driver, so... tyres were a big part of the expenses... (for about 20.000km/year)
Yellow is a great color... it was the official color for Belgium, back in the day when in competition each country had its color
Your depreciation on the Huracan is what I paid for my '13 C63 sedan with 42K miles in great condition plus tax. The gas mileage hurts a bit but I expected it. I pray there are no mechanical issues until at least 100k miles. It had 2 owners when I got it and just out of warranty. Can't get one on an AMG and it would be too expensive anyway. No issues so far and I didn't get it as a track car.....less expensive ways to go faster. Loving it on the freeway/open roads.
Isn't it crazy on the AMG.....$90k US in depreciation first 2400 miles. You won't lose much on the C7 ZR1 if you replace it with that. May go up after a while. Still think you should keep the Huracan if the next one is turbo. It'll hold its value too. Look at the 458 Speciale.
Good information and thank you for putting USD conversions on the screen
This might be the informative and genuinely interesting and fun to watch car UA-cam channels I love with you out clip it’s in of accelerating etc
Very solid info, good to hear from someone in Canada which is more relevant to me.
Great stuff! Be curious what your thoughts are on how the car market will change in Canada after COVID.
found your channel a while ago, I can say this content is underrated and it is very good!! love from quebec
Yo josh does the huracan come with ACC?
You already know, we back here for the content! Good video
Just came across your page and I’m a fan since you had an Audi R8 I’m here to stay haha subscribed
Absolutely LOVE your videos man. Totally awesome content that's much needed🙏
Something also to take into consideration is if you're losing $16k+ per year in depreciation swapping cars around, by the end of 10-12 years you could have instead bought a $200k~ car in the beginning and saved yourself likely $100k by just keeping it. Instead you end up owning nothing in full. So it really comes down to do you want to "borrow" 5-6
cars for 10 years or do you want to own 1?
You're 100% right, and if you're buying your "dream car", then by all means you should keep it. I'm at a point where I can afford it and choose to experience different cars, so after 2 years, I'm usually happy to sell it off and experience something new. Is this the most financially wise decision, probably not, but neither is buying a Lamborghini in the first place lol! You also would be taking on more significant servicing and repair costs in the long term with a car like this, especially once it's out of warranty.
@@carproblems8547 Lambo offers the warranty you can purchase after the initial falls off right? I know that Ferrari does, and I think they charge $5k/year for that or less. Also I think in your case, buying the car was in fact a financially wise decision with the content. Question on that, I do UA-cam also on a smaller scale (large community outside of UA-cam though), and I am considering using my BMW M5 and maybe a Mclaren 600LT for video content, do we have tax deduction options from using them on the business? Thanks man and loving the down to earth content. I'd love to collab sometime in the future when I build up the new channel.
Insurance cost depends often on the amount of the cars which are driving on the roads. For example, there are a lot of VW Golfs out there driving around and causing crashes, but Lamborgihnis are obviously rarer, so these types of cars aren’t as often involved in accidents as normal cars. So the insurance company pays god knows maybe 150k per year for all the insured Lamborgihnis and probably 600k a year for all VW Golfs.
I know this, because the father of a friend of mine had a Bentley Continental GT and he also said that the insurance was cheaper than for a normal car.
BTW this isn’t exclusive for Canada, I live in Germany and it’s the same thing here.
You must not live near or around Toronto or anything associated with the GTA? I'm in Halton Hills and for my cars I paid I feel half-decent for my Hellcat Viper at my SRT-10 Ram but again I am not Associated or part of the GTA if I were to move to Brampton I'm looking at paying close to $15,000 a year & if it's just for pleasure use you will also pay a lot less
Could you do a thoughts on leasing vs buy video? I was looking at getting a mclaren. It snows almost half the year where I am similarly to Canada and I also only keep cars for 2-3 years. I work full time and travel quite a bit so the mileage restriction wasn’t going to be an issue. It’s less money down and all the maintenance is taken care of for the lease term so Ive been considering it. But being mid 20s I might be overlooking something
Miles Devaull depreciation might get you.
I'm in the same boat as you! i'm actually looking to get into a 570s or a huracan but so far all the depreciation values quoted to me were so low causing the lease payments to be very high
@@karimnona1 I'm in a similar situation myself. I'm looking to buy a 2005 Hyundai Getz but I'm not sure how much it's going to depreciate.
@@StevenCoxAI how much does it costs to own a huracan in a yr?
$224k for brand new sound awesome compared to huracan prices now. The 2015 models are pretty much selling for that now.
Thanks for sharing the numbers with us. Love to see more car content.
Thanks for sharing this! Being a Canadian I appreciate this info!
I liked it more when you talked in the GTR instead of sitting in ur garage, either way a good video man. Keep it up
I agree. The whole lock down situation doesn't exactly allow for that at the moment though. Also, driving and trying to remember numbers probably wouldn't have gone so well for me lol
I used to watch your cleat reviews on boots I wish I had the money to buy. Now Im watching your car reviews on cars I wish I could buy...
You know you’re absolutely right, I like how you think about this whole topic and that you should meet my father to explain this to him.😂
But other than that i mean you’re truly full of valuable and logical information, I appreciate your honesty and transparency and god bless you.🙏🏽
Life is too short to worry about mileage and depreciation! 😅
Okay, I'm gonna stick to a miata then.
Jakub Vacek, ikr. That’s about what most of us can afford!
@@highsoulsociety I'm on it hard, just joking around :)
the miata is cool mate
@@dnlzy stop flexing cheap cars... Do not flex.
It would be awesome if you could find out more (maybe even make a video) about why the AMG GTR has more expensive insurance than the Huracan
He is literally sitting next to my dream car the green one which I'm pretty sure is a AMG GTR and that awesome green.
I really enjoyed watching your videos. I appreciate your knowledge, and honesty.
Everybody always thinks people pay cash for exotic cars when that’s rarely if ever the case.
$1200/year for a $300k car for service isnt that bad. I take my $30k mazda to service every 4-6 months. so could be 2-3x a year. Its around $100. So $200-$300 a year for a car that costed 10x less.
Keep in mind that this was a new car and still under warranty, so all of the servicing within that period isn't going to be super expensive. Once you're out of warranty and the car is 4 or 5 years old, that's when it will require what you could classify as a "major service", which depending on the car can be significantly more expensive. So you kind of play that game with either paying more for a newer car with less to worry about and lower servicing costs, or pay less for used/older car and potentially have much higher servicing bills. Again, every car is different, do your research.
My absolute favorite channel keep up the great work 🙌🏻
Thank you! That's the video I wanted all along!
Thank you so much for sharing your experience. You have a really nice car collection. May I ask if you would suggest lease or finance on an exotic car?
Thank you for the video dude! Recently found your channel (around a week or two ago) and it’s absolutely fantastic!
Hey Josh. Once this is all over, can we have a review/tour of the alfa romeo?
Absolutely! I was planning on doing that this week, but it has snowed for the last 5 days... The weather was really nice and then decided to go back to winter.
Great video, learned quite a bit
I see what you're saying about the peace of mind of spending the money up front but at the same time it doesn't make much sense in regards to a Gallardo. The Gallardo is less than half as expensive as that new Huracan, so the monthy payment would've been less than half of what you were financing the Huracan for. If you got a good PPI on the Gallardo your chances of a big repair bill would be miniscule if the clutch was recently done which would be in the area of $10-20k. You also would've lost roughly nothing in depreciation since the Gallardo is at the bottom of its depreciation curve. You lost $2k per month in depreciation, plus a little bit more in your monthly payments. So we can say it's safe to assume you lost around $50k minimum. If you did this same scenario with the Gallardo you would've lost virtually nothing besides running costs (which you didnt take into account here) as long as you didnt have to replace anything major which more than likely wouldnt have happened because a PPI would've prevented you from buying a car with those major things close to needing repair. Stradman replaced the clutch on his in his 4-5th year of ownership which cost around 10-20k im not exactly sure how much, but other than that he only paid for routine maintenance which costs a little less than what you were paying for the Huracan maintenance.
Right now, I agree, the Gallardo would be the better buy. Going back to the time I bought this Huracan, it had only been available in the country for about a year, so Gallardo prices for the most part were still up there compared to where they are now. Nothing about what I did was necessarily financially wise, but I feel like the choices I made resulted in the best possible outcome considering what it was. I also, don't care much for the Gallardo if I'm honest and really had my heart set on the Huracan.
Honestly, if all you care about is minimal depreciation on a new car (or any car, technically), get a special edition. Yes, it costs way more, but that's because it's rare, so will also depreciate less.
If you can get something like that for list price, absolutely, the issue is actually getting one. If you can get a special edition Ferrari as an example, it's totally worth it because they almost always are in super high demand which holds the values up and often even appreciate. However, unless you're allocated one of those cars from Ferrari, you'd have to buy one in the resell market and pay significantly over list for the car, at which point you're not really saving yourself in regards to depreciation. The issue with the more limited variants is that the highest price examples are cars that basically have delivery miles. Again, it depends on the car, the market and how much you cam get the car for in the first place.
you gota give us some track day videos in the summer
I'm pretty sure fixing the AMG is more expensive than the Lamborghini it terms of real expenses
Lambo expansiveness comes from the rarity + brand name
but AMG labor is so much expensive and slightly damage can destroy a lot of expensive tech in the front
Huracan being mid engine where the expensive parts are slightly safer in cases of small crashes
unlike the AMG with cramped front bay
What i got from this was wait 2-3 years so you can get a great deal for a "like new" car
Okay now I'm sure quite a few of us would like to know what you do for a living what line of work? Love the videos also keep up the good work and given us the knowledge stay safe you and the family
ua-cam.com/video/J_mB72QOgnk/v-deo.html
Hi mate sorry if I didn’t catch u saying it but how much did it cost to wrap your lambo in black
Do you recommend leasing a lambo? Or pay full price?
Great video brother.
Great video! I love your content!! I love your honesty
Nice. I’m in London Ontario and nice to have Canadian content. !!!
The perfect financial move would be to buy a used super car with a transferable extended warranty. Not sure if these kinds of cars typically have extended warranties ??
hey now that you drove the AMG GTR would you ever consider getting the GTR Pro? and also if you have driven a GT3 RS or the M4 GTS, could you shed a little insight on how you feel those cars drive. im a physics modder for driving simulations. and i can get all the factory data correct with the PDF files that some manufacturers will allow to be released but some ive just done my best at what i think it would drive like. i owned a valet company in grosse pointe for 6 years. co owned i should say. and i got alot of chances to drive super cars after building relationships with these clients, since we did privet partys only. dreessed in a suit and tie ect,... and they all knew i was a mechanic for a litle over 6 years. so when they said test my car out. i treated them with respect. a few cars i got to try was the Ferrari FF&458 , 911 turbo s./ 2010 era GT3 RS. viper ACR and a Falcon F7 to name a few. those were the big hitters, M series cars and most AMG models short of yours were like uiltra sports cars or low end super car. but personally i consider the GTR a super car. but of the cars you owned im just wondering like what where your favorites and why? how did it handle? was it balanced? was it just sheer acceleration that gets your hear going ect.. sry for the long one. if its too much ill try again maybe with a more concise and direct question on a future video. ty for the content.
What would u like to buy for your next purchase
I love this channel man! Great work!
Great video! Did you buy them outright with cash or did you finance it for the 2 year period you owned it?
Maybe I missed it, but how much did that wicked wrap cost? Great down to earth video, with much needed Canadian content! Are we seeing the beginnings of a Canadian Shmee150?
Let's just say it wasn't cheap, but it was extremely well done. I'm good friends with the people that own the wrap shop, and I'd rather not put out prices that they've quoted me on a job like this. What I will say is that a well executed wrap isn't cheap.
Awesome vid loved it!
Hey man. Great content. In general, What do you think the used ones with warranty? Will that be a better buy dollar wise? In am from Toronto 🍻
I found a used BMW I8 for sell for $65k USD with less than 16,000 miles. Here's the part that I flipped over, the only thing wrong with the car is that the pervious owner was an idiot and messed up the Special Paint then wrapped the car himself using super glue....
In my country, VAT on a 2 door supercar is somewhat around 841% 🙂
Yes, that's 841%, and that piece of information I had verified from the social media account of VAT Detectives of my country. 🙂
So whenever you talk about depreciation, I plain laugh.
I am from Bangladesh, btw.
If there was not this absurd amount of vat to be paid, there would probably be a lot of Bugatti and Lamborghini rolling around.
You have to pay around 200% of VAT if you want to buy a bloody 125cc motorbike.
What about the large tax bill? 13% tax on 300k is a significant expense that doubled your ownership costs. Please let me know as I was interested in the car! Thanks
I traded my Nissan GTR towards the Huracan which made for a significant tax break. There are a few variables to taxes and how much of those taxes you may or may not be able to write-off. It also varies from province to province and country to country. I'm by no means a tax expert, and I figured it was far too complicated to try to explain and breakdown all of that in a video that wasn't an hour long. Again, if you're in a position where you think you can afford something like this, you should have an idea of what those costs could be.
Great Info, Thanks for the video
You need a TDF I want a gt3 touring PORSCHE
Donald Shelton GT3 Touring is epic ... perhaps best modern road car for pure driving
You didn’t account for 13% hst tax in your formula. Because when you sell car back to dealer , they don’t give you tax back. So it’s $315 + 13% hst = $355k. You didn’t account for extra $40k in cost for tax. Your cost to run should be $43k + $40k= $83k. That’s almost double then what you quoted. Pls correct me if I’m wrong. Thanks
I traded my Nissan GTR towards the Huracan which made for a significant tax break. There are a few variables to taxes and how much of those taxes you may or may not be able to write-off. It also varies from province to province and country to country. I'm by no means a tax expert, and I figured it was far too complicated to try to explain and breakdown all of that in a video that wasn't an hour long. Again, if you're in a position where you think you can afford something like this, you should have an idea of what those costs could be.
Keep up the amazing content!!!!
I appreciate this vid since the huracan is my dream and will own one day
can I used this tips to buy a lambo here australia ? Australia charge a lot tax for new car. used car is the way to go , but is steel expense. thanks
Great video!!!
10:40 every time I drive my c8 it’s in track mode
how much did the wrap cost?
Only thing you haven't factored into your deprecation cost is the mileage you've put on.. $1900/month isn't bad for a Hurracan but you most likely didn't put more than 8000kms each year. So your total cost per km would still be higher compared to the range rover as the range would probably drive 15-20k per year.
You're 100% right about that, but this also isn't the type of car that you would daily drive. Also, if you bought a Range and didn't drive it for two years, it would still do a ton of depreciation. It was just an example of how most luxury cars that are a lot less expensive in terms of price will depreciate around the same amount over a 2 year span.
Sup bro, what’s a good 100k car to buy right now?
How many miles were on your Lamborghini when you sold it back to the dealership?
I never understood why cars depreciated when driven out the lot. Logically if you sell your car the minute you drive it out the lot, nothing was damaged or overused, why should it depreciate by 30-50%?
Same, but I wonder in a situation like this its not so much the depreciation but the markup. The salesman always wants a cut so if he can buy the car back cheaper it helps ensure a profit margin on resale and keeping business going.
@@jemmrich that is understandable in my opinion, but I think it is something far more problematic when it comes to depreciation. If they used the -40% price difference just to make profit and resell it for a higher price. (Especially in a Supercar/Hypercar market) seem to send the car industry in a path of; shit I cant even explain it.
@@jemmrich what I think is that cars should be left to price check from future customers not media or baseless depreciation tactics to sell the car for way less than it (looks).
or feel, drives, operates etc.
He goes by the name Josh Exotic now
What do you do? If I may ask?
This was great! Thanks!!!
Just realized baker mayfield is the speaker
Nice mate
How many Km did you have on it when you sold it ?
Big fan of this channel! :D
Hey man what part of Canada are you in ?
I really wish I could see you colab with dde !