05LSV Buying a Gallardo Thread

To whoever posted the valuable MY07 auction data a week or so ago for me, can you please repost it? The info was lost in the Lambo-pocalypse, never to be seen again.

 

I'm looking at a car that was bought at auction by an Arizona dealer in the last couple of months.

 

Help appreciated!

If you are in the market for an 07, mine is for sale - as the last buyer could not get financing (yet again). Why do people even look if they can't get or don't have the money... I will save that for another thread

 

Mine is an 07 Spyder (in my avatar), 8K miles, perfect condition = 125K. There is no better deal out there for equal miles and options. (has all options and is a manual, which is not easy to find!)...

 

Just throwing an idea out there, rather than buying an auction car which you will not have history on. Many members know me and my cars, so lot less risk factor in what you are getting!

If you are in the market for an 07, mine is for sale - as the last buyer could not get financing (yet again). Why do people even look if they can't get or don't have the money... I will save that for another thread

 

Mine is an 07 Spyder (in my avatar), 8K miles, perfect condition = 125K. There is no better deal out there for equal miles and options. (has all options and is a manual, which is not easy to find!)...

 

Just throwing an idea out there, rather than buying an auction car which you will not have history on. Many members know me and my cars, so lot less risk factor in what you are getting!

 

Damn it why couldnt you of had your car priced like this in March!! And I am in Springboro. Sorry to hijack 05LSV.

I am pretty sure he cant fit into a Spyder. Good luck with your search.

If you are in the market for an 07, mine is for sale - as the last buyer could not get financing (yet again). Why do people even look if they can't get or don't have the money... I will save that for another thread

 

Mine is an 07 Spyder (in my avatar), 8K miles, perfect condition = 125K. There is no better deal out there for equal miles and options. (has all options and is a manual, which is not easy to find!)...

 

Just throwing an idea out there, rather than buying an auction car which you will not have history on. Many members know me and my cars, so lot less risk factor in what you are getting!

 

I may be able to help with your financing problems down the road Richard. If you ever need help with that, let me know. I am working for a finance company again.

 

Richard - your car is stunning and I love the red interior accents. Really awesome price as well.

 

Vbox hit the nail on the head though - I can't fit comfortably in a spyder.

MY07 coupes.

 

03/10/10 PALM BCH Regular $109,000 13,756 Avg RED 10G P No

03/25/10 RIVRSIDE Lease $112,000 13,908 Avg BLACK 10G 6 No

04/22/10 DFW Regular $118,000 13,756 Avg Red 10C A No

04/21/11 RIVRSIDE Regular $101,000 14,459 Avg BLACK 10G A No

05/19/11 PALM BCH Regular $135,500 4,598 Avg Black 10C A No

07/06/11 PA Regular $137,900 6,164 Avg Black 10C M No

08/11/11 RIVRSIDE Regular $102,000 28,872 Avg BLACK 10G A No

 

MY07 coupes.

 

03/10/10 PALM BCH Regular $109,000 13,756 Avg RED 10G P No

03/25/10 RIVRSIDE Lease $112,000 13,908 Avg BLACK 10G 6 No

04/22/10 DFW Regular $118,000 13,756 Avg Red 10C A No

04/21/11 RIVRSIDE Regular $101,000 14,459 Avg BLACK 10G A No

05/19/11 PALM BCH Regular $135,500 4,598 Avg Black 10C A No

07/06/11 PA Regular $137,900 6,164 Avg Black 10C M No

08/11/11 RIVRSIDE Regular $102,000 28,872 Avg BLACK 10G A No

 

How much more than the bid price is the out the door price for the dealer. For instance the first car at 109k, plus fees would be ? out the door for the dealer?

I am pretty sure he cant fit into a Spyder. Good luck with your search.

 

Unfortunately it is all those people that think they want a lambo, think they can afford it, talk about it for months - then when they go to pull the trigger their credit scores are in the basement and they can't afford a dime to put down in the first place. I just love people wasting others time. I will do a thread on this, I have been meaning to. But why would you even be looking, if you don't have the money. This has happened two times in the last 4 months.. One guy even flew out to see it, gave me a deposit, then working with his bank - the bank told me he wasn't approved. Nice.

I may be able to help with your financing problems down the road Richard. If you ever need help with that, let me know. I am working for a finance company again.

 

Not a problem. Interesting I find my 07 Spyder more roomy than my 04 Coupe..

Unfortunately it is all those people that think they want a lambo, think they can afford it, talk about it for months - then when they go to pull the trigger their credit scores are in the basement and they can't afford a dime to put down in the first place. I just love people wasting others time. I will do a thread on this, I have been meaning to. But why would you even be looking, if you don't have the money. This has happened two times in the last 4 months.. One guy even flew out to see it, gave me a deposit, then working with his bank - the bank told me he wasn't approved. Nice.

 

What really sucks about that is that someone could get a KILLER deal on a car like yours but then the owners get sick of the BS and sell the car to a dealer. Then those with cash lose out on a great deal.

How much more than the bid price is the out the door price for the dealer. For instance the first car at 109k, plus fees would be ? out the door for the dealer?

 

Its based on a percentage of the price of the car. The more expensive the car the less the percentage. I know for a fact that the high line sales have lower fees due to the higher prices of the cars. It also depends on how many cars you buy and sell at the auction on a weekly basis. I have not been to a Manheim Aution in a while so I can't confirm what the current fees are but I do remember the last time I bought and /or sold a car there it was in the 1% to 2% range for me, I believe.

 

You also have to remember that for high line cars, numbers at auctions are all over the road and there isn't a ton of them to do a true average comparison like there would be if you were trying to buy a Toyota 4runner.

 

As we all now a bad transmission that needs a clutch after you by Toyota is going to cost you a lot less than one on a gallardo. Sometimes all this info is disclosed and makes the difference in how much the car gets bid on and how high it goes.

 

IMO if the car is at auction and there is no disclosure, something is up with it or they would have retailed it.

 

But to answer the question above..........I'd say on $109k the buyer fee is going to be around $1,100 to $1,500 to the buyer and the same to the seller. Again, these number vary depending on everything I mentioned above.

 

 

IMO if the car is at auction and there is no disclosure, something is up with it or they would have retailed it.

 

That worries me a little.

Unfortunately it is all those people that think they want a lambo, think they can afford it, talk about it for months - then when they go to pull the trigger their credit scores are in the basement and they can't afford a dime to put down in the first place. I just love people wasting others time. I will do a thread on this, I have been meaning to. But why would you even be looking, if you don't have the money. This has happened two times in the last 4 months.. One guy even flew out to see it, gave me a deposit, then working with his bank - the bank told me he wasn't approved. Nice.

 

 

There was a time when being able to afford a car meant being able to afford the car rather than being able to afford PAYMENTS on the car.

There was a time when being able to afford a car meant being able to afford the car rather than being able to afford PAYMENTS on the car.

Bingo

There was a time when being able to afford a car meant being able to afford the car rather than being able to afford PAYMENTS on the car.

 

I'm assuming you mean in the realm of exotic cars. Thing is does that bring up or down the monetary value of the cars? I think it brings down the inherent value because of more accessibility, but brings up the monetary value because more buyers helps keep the prices higher.

There was a time when being able to afford a car meant being able to afford the car rather than being able to afford PAYMENTS on the car.

 

Honestly, I wouldn't be buying a Gallardo unless I had AT LEAST 150% of the asking price liquid disposable cash. Meaning not dumping a 401k, not taking out my kids college fund, not jeopardizing future investments, and not risking my families well being for it. It is a depreciating asset after all.

 

I am sure there are many out there that fit this bill, I guess they love the risk.

 

 

Check out the orange '07 coupe in the classifieds section.

 

Honestly, I wouldn't be buying a Gallardo unless I had AT LEAST 150% of the asking price liquid disposable cash. Meaning not dumping a 401k, not taking out my kids college fund, not jeopardizing future investments, and not risking my families well being for it. It is a depreciating asset after all.

 

I am sure there are many out there that fit this bill, I guess they love the risk.

 

I think you have to consider one thing Mike, on some used lambos you are talking New Mercedes, Porsche 911, etc money. I can see the difference if you are going for a quarter million dollar gallardo though.

I think you have to consider one thing Mike, on some used lambos you are talking New Mercedes, Porsche 911, etc money. I can see the difference if you are going for a quarter million dollar gallardo though.

 

Very true. I bought my E63 with only 5k miles on it, so it was pretty much brand new, but it stickered at $108k. I did save over that price, but for those dollars, that's a 2006+ Gallardo no problem. Also, with money at my credit union at 2.9%, I don't know if I even want to pay cash for the G I will end up with, even though I could.

Check out the orange '07 coupe in the classifieds section.

 

 

Very nice, but a little out of my comfort range price-wise.

I think you have to consider one thing Mike, on some used lambos you are talking New Mercedes, Porsche 911, etc money. I can see the difference if you are going for a quarter million dollar gallardo though.

 

Agree, but also don't. I buy cars I could afford to buy cash. That is personal preference. Some guys will buy an 04 or 05 gallardo and bank on them not depreciating more than their down payment. Again personal preference. To each his own.

MY07 coupes.

 

03/10/10 PALM BCH Regular $109,000 13,756 Avg RED 10G P No

03/25/10 RIVRSIDE Lease $112,000 13,908 Avg BLACK 10G 6 No

04/22/10 DFW Regular $118,000 13,756 Avg Red 10C A No

04/21/11 RIVRSIDE Regular $101,000 14,459 Avg BLACK 10G A No

05/19/11 PALM BCH Regular $135,500 4,598 Avg Black 10C A No

07/06/11 PA Regular $137,900 6,164 Avg Black 10C M No

08/11/11 RIVRSIDE Regular $102,000 28,872 Avg BLACK 10G A No

 

Coupes are fetching $138k?????? wow

 

Agree, but also don't. I buy cars I could afford to buy cash. That is personal preference. Some guys will buy an 04 or 05 gallardo and bank on them not depreciating more than their down payment. Again personal preference. To each his own.

 

Depending on the market, it might not be best to buy a car with cash. For instance, last year I borrowed it at 2.9% and put my cash in the market making more than 10%. I could afford the car cash, but was better off investing.

 

Right now is a different story... might be best to put cash into the car rather than market lol.

 

In general, though, I agree that if you don't have the cash to begin with, it might not be wise to stretch yourself into making the payments. Especially if unexpected maintenance comes up.

Agree, but also don't. I buy cars I could afford to buy cash. That is personal preference. Some guys will buy an 04 or 05 gallardo and bank on them not depreciating more than their down payment. Again personal preference. To each his own.

 

I agree with making sure you can afford the car before purchasing but I do not see the value in spending your liquid cash if money is cheap. When I bought my used G last year (at what seems to be the bottom of the market for now) I put half down and financed the rest through my credit union for 2.4%. The money I would have paid cash, I invested conservatively. If I can't beat 2.4%, then I got problems.