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👋 So you are looking to buy a Lamborghini Gallardo? How much to you think it costs to own a 2014 Gallardo and keep it on the road? I just bought my childhood dream car at age 29 and in todays video I go over how much I paid for my 2014 LP550-2 along with what insurance and registration costs for my Lamborghini. I also mention why I am currently rebuilding my Gallardo myself rather then using insurance. Since I was on a racetrack when I crashed my Lamborghini I really didn't have insurance. However even if I did have a track policy for the event. Given the damage would be about $100,000 worth of parts and labor. Having a six figure claim on my record would make my rates skyrocket and give my Gallardo most likely a salvage or rebuilt title. Which would tank it's value. So for the cost of what my premiums would be over the next 4 years had I submitted a claim, I can just fix it myself and keep my rates low and maintain a clean record on my car. Also I don't like relying on other people to help me, so just doing it myself keeps my in control of the rebuild and I know I will make this car perfect. Also within two months I've got my Lamborghini perfectly drivable and am able to enjoy driving it while I fix it. At a shop this would probably be gone for a year getting fixed. Overall insuring my Lamborghini at age 29 is pretty cheap. $1,300 per year for full coverage seems like nothing! Clean record on my end goes a long way. All the more reason to not have this crash on my record. Highest deductible and paying annually keeps it low. Registration for the Gallardo is about $1,300 as well which included North Carolina yearly property tax. So overall it's really nothing too crazy to own. I paid just under $140,000 out the door with my sale price bing $135,000. Seems like a very good price for the car and watching the market on the LP Gallardos, they seem to be listing in the $140k range but selling in the mid $130k range. So I did well buying the car. I also budgeted for anything going wrong and that's why I set my budget at $140k out the door. Depending on the price point of car I buy, I always set aside $10k-$30k for emergencies. Unfortunately I crashed my Lamborghini Gallardo and am dipping into my emergency fund to fix it. But thankfully this damage is all something I can handle. So if you plan to buy a Lamborghini be wise! Don't overextend your budget, and plan to have extra in case something happens. Selling my GTR along with all it's aftermarket parts was the majority of my down payment and of course not having a GTR payment for about two years from when I paid it off till buying the Lamborghini let me easily have $100,000 to put down. A simple $40k loan which I plan to pay off beginning of 2025 will give me a good business write off as well. So be smart when buying an expensive supercar, and you will find it's really not all too crazy to own!
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Insuring A Lamborghini Gallardo At Age 29?? Price Will Shock You
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