Hi and welcome to buying a supercar!
This is the first instalment in a number of weekly/monthly tips telling you the best ways to purchase expensive items AKA SUPERCARs. Although we write about car tips you can actually apply this information to anything in life or business, especially geared towards making big purchases. This first instalment is probably going to be extremely obvious for most people but its a figure and stat we like to remind people thinking of making a huge purchase (although usually purchasing a house falls outside of this)
There are literally hundreds of types of supercars you can buy; Ferrari’s, Aston Martins, Lambos, DB9s, so many its impossible to write them all in one place, but the 2 most important things to remember when deciding whether or how to purchase a super are the following:
1.) RENT (HIRE) A SUPERCAR – Never Buy it!
When you buy a depreciating asset outright you instantly lose value on it. The second you drive your new Aston martin or Ferrari out of the showroom you lose 25% of its value. This is a fact. Simply drive one off and try sell it to the showroom down the road, you will be lucky to get over 60% of the value back!
2.) Don’t make a purchase above 1 year’s salary
This may not be a fact / metric you have heard before, but its essential you understand it! We recommend you do not buy a car you couldn’t afford to pay off in 2 years (all other things the same). For example if you make $50k per year, then you should only pay a maximum of $50k for a car. Even if you have 6 years to pay it off (Which you should buy it anyway, because we just said you should rent it!) But anyway if you do ignore the first rule, do not ignore this one!
Thanks for reading.