Geting Paid $1,666 per Month to Own a 2004 Lamborghini Gallardo
Who doesn’t want a Lamborghini and this happened to be my very first one. The perfect 04, low mileage, 6 speed gated shifter, clear engine bonnet, yellow calipers, and in impeccable condition with updated navigation unit by Pioneer. The car was flawless and was sitting at the dealership unsold for 6 months.
The financial storm had started and dealers were liquidating inventory.
The car was listed at $98K and it wasn’t moving. I almost backed out but threw a ridiculous offer of $80K out the door never expecting dealer to accept a an offer on such an immaculate car. Offer was countered at $83K and accepted and I was on my way to pick up the car.
To my surprise, the car also had a sick $2K radar system in it.
Buying Guide Shortcuts
2004 – 2008 Lamborghini gallardo
MSRP NEW: $180,000
Depreciated 5 year Retail value: $90,000 – $110,000
Depreciated 5 year Auction value: $75,000 – $90,000
Average Mileage for 5 year ownership: 25000
Good Mileage for 5 year ownership: Under 15,000
Options Preferred: 6 speed manual, clear bonnet
Nice options (Not mandatory): Wheels
Purchase price: $83,000 inclusive of all fees
Financing: $68,000 financed / 96 Months at 6% = $893 per month / $15,000 down
Total payments: $893 X 3 months = $2,679 of actual payments made
Other expenses during 3 months:
– Maintenance: $299
– Performance Modifications: $3,700
Total Invested in car through 3 months of ownership: $87,000
Sold for: $93,000
Total profit: $5,000
Profit Divided into Monthly ownership: $1,666 a month
We loved this car and you can never forget your first Lambo. As much as I believed I knew the market, I could have kept this car 5 years and still walked away with a profit. Increased pressure from a collapsed economy coupled with fear of never getting my money back made me sell the car early. Lesson learned, every economy recovers no matter how bad. When you can survive it, ride it with confidence.
Make sure to read our full Lamborghini Gallardo Buyers Guide and Review