Something went wrong, ordered a Mustang, yet ended up in a British hotrod, I blame OcUK!

[Jonnycoupe]

Wallacepjw from SoL has some insta stories at the same huracan EVO even nt. Bit more tolerable than shmuck.

https://instagram.com/wallacepjw?utm_source=ig_profile_share&igshid=euqpcvrwef2z

 

[Maccy]

@Gibbo just go for it mate. Also is it only Oracle that you're using for finance or anyone else? I struggled to get them to offer anything below 6.9%.

 

[Steedie]

Do it Gibbo.

I plan on having either a Huracan or Huracan Evo within the next 3 years. More likely a Huracan though depending on the used market for Evo's then. They are just immense cars and you can't beat them imo. Just look brilliant, especially in the bright green, and that engine is just beautiful. Can't see Lambo making another car with a NA V10

 

[Gibbo]

@Gibbo just go for it mate. Also is it only Oracle that you're using for finance or anyone else? I struggled to get them to offer anything below 6.9%.

Oracle so far are at 5.4% APR for me on regular PCP finance, so my monthly payment gets me equity in the car on top of my deposit, plus a lower end balloon.
DSG/Magnitude are under 5% APR for an interest only option, advantage of this is its only 2yr term, on 150k its between £300-£400 a month, but of course you build no equity from monthly payment, the balloon is car price less deposit, plus £100 admin fee. So example, pay 147k, 70k deposit, leaves 77k owing, pay £300-£400 monthly for two years (interest) and then final balloon is £77,100.

I am running all the numbers, both come to a similar total repayable amount, just interest only option is way more flexible with over payments and of course I could own a Huracan well part own but for £300 a month as I am pushing them harder for a lower rate, particular with the SVR mess up from a previous lender they used for me. If I can get the APR closer to 4-4.5% and put in around 75k and get the car purchase price down to 142k, the monthly payment would be £290 and final payment 67k, which I know I could get down to around 35-40k in two years from over payments at which point paying the final 40k is feasible for me to own outright.

Whatever I buy I shall outline how I did it, what it is costing etc.
As the because who say oh its easy it is finance, is not strictly true, you need a large amount of money to get in and to get a decent rate, end of the day if it was as easy as some make out then surely everyone would be driving supercars, of course I am budgeting £6000 per year as well in extended warranties and servicing cost, which compared to sub £500 for the SVR puts a Huracan in another league of running cost.

A 991.2 GT3 is the other contender, also 140-150k, but 2yr std warranty, around 1.5k to renew and under 1k to service, so of course the GT3 is cheaper to run.

But as both are a tough choice a major play is depreciation curve, you need to be able to swallow a big chunk of money in depreciation, worse case both these cars could lose 20k per year, that is unlikely but it is possible, so 140k now, could be worth 100k in 2yr.

 

[Gibbo]

Do it Gibbo.

I plan on having either a Huracan or Huracan Evo within the next 3 years. More likely a Huracan though depending on the used market for Evo's then. They are just immense cars and you can't beat them imo. Just look brilliant, especially in the bright green, and that engine is just beautiful. Can't see Lambo making another car with a NA V10

For me I am thinking like this:
Early 610-4 Huracan (64/15 plate), try buy a sub 15k miles example for around 140k. Hope to sell it in 2yr for 120k with around 25k miles, 30k miles max. Then get into an Huracan EVO or Performante. As I suspect EVO in 2yr will be 150-180k or a Performante.

I think Lamborghini will release a Huracan EVO Performante or similar crazy version of the EVO as it just seems logical, at a guess I'd say they will run with the V10 NA for another 3-5yr before maybe having to switch to some form of TT or Hybrid setup to keep up with emission rules and noise rules etc.


The wild card is, will a Performante drop much more from 200k, yes maybe 180k in short term, but what is the 2-3yr outlook, the numbers are small and its limited, if it goes way of say Ferrari 458 Speciale or a 488 Pista, then it should be worth 300-400k in a few years as the Performante by all accounts is a better car and just as rare. The problem is both the EVO (as fast) and there will no doubt be a special edition of the EVO no doubt around 260-280k base price.

Its the gamble, risk a little more depreciation potential on a Performante but there is the gamble it could go up in value and I end up making 100k out of owning an epic car, that is the gamble.

 

[Gibbo]

An example from Lamborghini, there APR is not as good but they also offer interest only payments:



Andrew,


I recommend the LDS


Ignore the press its rubbish and not discussed anymore.


We can look at other finance options but these are the Lamborghini figures:


Vehicle Price - £154,000.00

Deposit - £70,000.00

18 Months - £486.65

GFV - £84,000.00



Vehicle Price - £154,000.00

Deposit - £70,000.00

36 Months - £540.93

GFV - £81,557.50


Do let me know if you would like to view and we can secure with a deposit subject to you selling the SVR within the month of February?




What I will say is they are super responsive and mega keen to sell or try to get me in a car, car in question is an orange 2 owner 7000 mile 610-4, the above gives you an idea of the costings of such a car if you have the deposit and are happy with interest only and then just handing car back. I complained about black wheels on the car to which there response was we will change them to silver wheels for you, so they are quite flexible with changing parts on a car to get a sale.

My finance guy informed me this is how many of the not so famous youtube guys get themselves in such exotic machinery, it was news to me as I was un-aware such payment plans even existed.


For myself however I shall probably go traditional PCP route where I pay £800-£1000 per month to get equity in the car and thus have a much smaller balloon at the end which I can afford to pay and keep the car.

If I go Performante I'd have to do interest only payments however and take the gamble of losing 30-50k or making upto around 100k.

 

[kindai]

If I go Performante I'd have to do interest only payments however and take the gamble of losing 30-50k or making upto around 100k.

As we discussed, its a coinflip and while the low monthlies look great on paper, when you are flipping a coin to either losing your equity in the car if it drops, or making money if they go up, it no longer looks as fun.

Personally I think given the new electronic toys in the EVO, lambo are going to build on that and release something that is going to rival or even beat the performante, we already know the Huracan replacement is going to be a NAv10 with likely hybridization, so it only makes sense they start dialing in their new electronic toys for the next gen on the Huracan, so a SL/SV version is more than likely going to happen.

 

[Gibbo]

For those interested here are the quotes from Oracle, traditional PCP, over payments can only influence the monthly amount though, so I am guessing same provide as I have now and I got 5.4% APR on the SVR but Oracle have said once I am ready they will improve the deal:

2yr Term:
- Facility: Regulated lease purchase
- Cash price: £140,000
- Customer deposit: £70,000
- Balance to finance: £70,000
- Balance payable by 24 monthly payments @ £937.90
- Followed by balloon of £55,000
*Credit facility fee of £0, Option to Purchase Fee of £0.00, Total Charge for Credit £7,509.60, Total Amount Payable £147,509.60, Rate of interest 3.05%, Representative APR 5.9%


3yr Term:
- Facility: Regulated lease purchase
- Cash price: £140,000
- Customer deposit: £70,000
- Balance to finance: £70,000
- Balance payable by 24 monthly payments @ £980.50
- Followed by balloon of £45,000
*Credit facility fee of £0, Option to Purchase Fee of £0.00, Total Charge for Credit £10,298.00, Total Amount Payable £150,298.00, Rate of interest 3.05%, Representative APR 5.9%


4yr Term:
- Facility: Regulated lease purchase
- Cash price: £140,000
- Customer deposit: £70,000
- Balance to finance: £70,000
- Balance payable by 24 monthly payments @ £989.56
- Followed by balloon of £35,000
*Credit facility fee of £0, Option to Purchase Fee of £0.00, Total Charge for Credit £12,498.88, Total Amount Payable £152,498.88, Rate of interest 3.05%, Representative APR 5.9%




So you can see the costings using traditional PCP. When I come to make a purchase I shall probably increase my deposit to £80,000 and also push for under 5% APR and expect a maximum of 5.4% and probably go with a 2yr term to simply limit interest to around £5000 or less.
It is so important to get the finance deal right, so many people end up paying thousands upon thousands in interest even for more regular run of the mill 30-50k cars because all they look at is the monthly payment amount and not the total amount repayable.

 

[Steedie]

Quite surprised by those figures. Interesting that I could go and buy one today if I wanted to go the interest only route with that level of deposit. Like you, didn’t know you can do interest only.

I’d want a chunk of equity though, or ideally buy outright which is why I was going off the Huracan prices of today and estimating 3 year values.

EDIT - Those 2 and 3 year figures are very reasonable!

 

[Gibbo]

As we discussed, its a coinflip and while the low monthlies look great on paper, when you are flipping a coin to either losing your equity in the car if it drops, or making money if they go up, it no longer looks as fun.

Personally I think given the new electronic toys in the EVO, lambo are going to build on that and release something that is going to rival or even beat the performante, we already know the Huracan replacement is going to be a NAv10 with likely hybridization, so it only makes sense they start dialing in their new electronic toys for the next gen on the Huracan, so a SL/SV version is more than likely going to happen.

Agreed, ideal for me would be a base Huracan 580-2 or 610-4 without mag ride and without LDS, lets say a more traditional, more hardcore Lamborghini, I can see a purist in the future looking for such example, though I've now spoken with a couple of owners of 610-4 with LDS and Mag ride and they have told me ignore the press, ignore the understeer comments, because the car is totally incredible to drive and this comes from some guys who have a GT3 RS alongside it, lucky people.

But I still need to drive Huracan on road, the GT3 on road is like driving any Porsche 911, feels like a normal car, great visibility, not too big so easy to drive as a daily anywhere. Huracan is no wider than SVR so should be fine, but need to see how visibility feels, on track it felt fine.

 

[Gibbo]

Quite surprised by those figures. Interesting that I could go and buy one today if I wanted to go the interest only route with that level of deposit. Like you, didn’t know you can do interest only.

I’d want a chunk of equity though, or ideally buy outright which is why I was going off the Huracan prices of today and estimating 3 year values.

EDIT - Those 2 and 3 year figures are very reasonable!

Yes I'd do 2yr term, put in 80k instead and push for 5% APR, that should bring me down to around £700 per month and around 5-6k total interest paid which I'd be happy with to be owning a 100k plus Lamborghini at the end of the term.

 

[Steedie]

Might have missed it but what are you expecting to get for the SVR?

 

[Gibbo]

Might have missed it but what are you expecting to get for the SVR?

Dealer offered 67k, I expect a min of 70k gonna advertise 77k as I am in no rush.

Like I say I am researching heavily, should the right car come or a deal I can't refuse, then I can just let the Jaaag go for 67k, but I'd rather wait until Spring as the SVR is a far better Winter car than any of these options I am looking at, heated screen, heated wheel, remote start, AWD its truly unbeatable car in that respect.

 

[Maccy]

Oracle so far are at 5.4% APR for me on regular PCP finance, so my monthly payment gets me equity in the car on top of my deposit, plus a lower end balloon.
DSG/Magnitude are under 5% APR for an interest only option, advantage of this is its only 2yr term, on 150k its between £300-£400 a month, but of course you build no equity from monthly payment, the balloon is car price less deposit, plus £100 admin fee. So example, pay 147k, 70k deposit, leaves 77k owing, pay £300-£400 monthly for two years (interest) and then final balloon is £77,100.

I am running all the numbers, both come to a similar total repayable amount, just interest only option is way more flexible with over payments and of course I could own a Huracan well part own but for £300 a month as I am pushing them harder for a lower rate, particular with the SVR mess up from a previous lender they used for me. If I can get the APR closer to 4-4.5% and put in around 75k and get the car purchase price down to 142k, the monthly payment would be £290 and final payment 67k, which I know I could get down to around 35-40k in two years from over payments at which point paying the final 40k is feasible for me to own outright.

Whatever I buy I shall outline how I did it, what it is costing etc.
As the because who say oh its easy it is finance, is not strictly true, you need a large amount of money to get in and to get a decent rate, end of the day if it was as easy as some make out then surely everyone would be driving supercars, of course I am budgeting £6000 per year as well in extended warranties and servicing cost, which compared to sub £500 for the SVR puts a Huracan in another league of running cost.

A 991.2 GT3 is the other contender, also 140-150k, but 2yr std warranty, around 1.5k to renew and under 1k to service, so of course the GT3 is cheaper to run.

But as both are a tough choice a major play is depreciation curve, you need to be able to swallow a big chunk of money in depreciation, worse case both these cars could lose 20k per year, that is unlikely but it is possible, so 140k now, could be worth 100k in 2yr.

Thanks mate, just went back over my quote and they offered 7.4% on a Carrera GTS, so even worse than I thought!

 

[Gibbo]

Thanks mate, just went back over my quote and they offered 7.4% on a Carrera GTS, so even worse than I thought!

It could be related to deposit size, both companies said larger deposit guarantees the better rate, but saying that I put like 40k into the SVR and got 5.4% APR. So you can certainly get better, ring around, DSG, Magnitude, Oracle, Paragon are all good finance suppliers.
They like to see a good deposit and a good basic income, if you can do both of those you should be under 6% APR all day long!
My credit score moves between 970-999 on those score things as I've got good history, any PCP or previous loans I've always settled early, I've got 41k on credit cards all with zero balance and I own my property with no mortgage, it all helps, but generally on these expensive cars its secured against the car, so that kind of stuff is less relevant, more down to deposit and salary.

 

[Maccy]

It could be related to deposit size, both companies said larger deposit guarantees the better rate, but saying that I put like 40k into the SVR and got 5.4% APR. So you can certainly get better, ring around, DSG, Magnitude, Oracle, Paragon are all good finance suppliers.
They like to see a good deposit and a good basic income, if you can do both of those you should be under 6% APR all day long!
My credit score moves between 970-999 on those score things as I've got good history, any PCP or previous loans I've always settled early, I've got 41k on credit cards all with zero balance and I own my property with no mortgage, it all helps, but generally on these expensive cars its secured against the car, so that kind of stuff is less relevant, more down to deposit and salary.

Yeh I think deposit size is the factor, my credit score is near perfect, home owner with mortgage but I'm self employed so maybe that's a factor.

Interestingly the contact I used from Oracle has just emailed me again, their ears must've been burning!

 

[kindai]

Yeh I think deposit size is the factor, my credit score is near perfect, home owner with mortgage but I'm self employed so maybe that's a factor.

If you have a big deposit and a excellent credit history then there are asset finance companies specifically for self-employed / directors. Mine is done via aldermore and they specifically only deal with self employed and directors, the apr is a bit hit and miss with them though as you have to go via a broker.

 

[Gibbo]

If you have a big deposit and a excellent credit history then there are asset finance companies specifically for self-employed / directors. Mine is done via aldermore and they specifically only deal with self employed and directors, the apr is a bit hit and miss with them though as you have to go via a broker.

Yes Oracle offered me this option which was same rate as you got which was slightly higher than the other options.

The advantage of Aldermore is they allow any kind of over payment so reduce term, reduce monthly payment or reduce balloon with no fee.

The slightly lower rate only allows you to reduce monthly payment so you save less interest.

 

[kindai]

Yes Oracle offered me this option which was same rate as you got which was slightly higher than the other options.

The advantage of Aldermore is they allow any kind of over payment so reduce term, reduce monthly payment or reduce balloon with no fee.

The slightly lower rate only allows you to reduce monthly payment so you save less interest.

Yup, am going to be overpaying each month by ~500-1000 on mine to pay it down ASAP

 

[daz]

You seem to be talking yourself in to buying a Lambo.

When are you driving some options?