You have all the time in the world to pay off this Lambo. Is that wise?
Cool of course, a Lamborghini or Ferrari, but throwing two or three hundred thousand on the table right away is a difficult story for many people. That’s what financing was invented for. We Dutch are a bit allergic to it, certainly with the sky-high interest rates these days. Nine or more than ten percent interest for a car loan is not unusual.
Lamborghini Urus S used: 15 years of payments
In other countries, financing is perfectly normal. The United Kingdom, Sweden, but also the United States of America. Lamborghini Newport Beach in the American state of California had an interesting deal for a yellow Urus S.
You could drive a young used Urus S for $2,698 a month. That’s excluding taxes and any additional costs. The catch? The fact that you had to transfer that $2,698 to Lamborghini Newport Beach for the next 15 years.
With a mortgage, a long-term loan of up to 30 years is very normal. With a car, less so. You often pay off the financing in 12 to, for example, 36 or 72 months. 180 months is very unusual. Due to the long spread, the monthly amount is ‘attractive’. I put that in brackets, because 2,698 dollars is still a lot of money. However, driving a virtually new Lamborghini for that monthly amount will be quite tempting for the influencers in California.
Of course, the car can also be tapped immediately. The used car has a price tag of 283,353 dollars. The promotion ran until August 31. To pay 2,698 dollars per month for 15 years, you had to make a down payment of 57,000 dollars.
On top of that, you pay ridiculous interest. If you do $2,698 times 180 months, you end up with $485,640. That’s a very expensive Lamborghini Urus S used car. And then there are taxes on top of that. No, it’s not that bad that this deal is over. Sounds good, doesn’t it. Next!
Comments
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rulefollower say
12x15x USD 2,698 + USD 57,000 = USD 542,640 price tag.
I hope there is also a budget for maintenance and fuel.
