Can you shed some light on why they have those tax credits?
Because of how Texas tax on leased vehicles work.
I agree with @anon92897398 however Iām surprised no one made the connection here.
Solid chance OPās an Oil & Gas guy.
Chiming in on this I think theyāre just using the trade allowance to account for the tax credit due to system limitations.
Also Iāve been quite surprised with the lack of transparency exotic dealers have. Been shopping around for a family on a flying spur or a ghost & quite frankly most dealers are upfront āwe have a supply shortage & the only deal we can do is a profitable oneā
I canāt blame them. Supply/Demand principles at work.
My god. Sorry but Iām gonna be āthat guyā and then shut upā¦if you can afford this car, you can afford to not pay Lamborghini $945/month and $36k total in rent charge. Thatās like a 911 parked next to this in the driveway for 3 years.
Basically it would have to be worth less than $110k in 3 years/15k miles for this lease to break even vs a cash deal. Assuming they do their faux trade BS for a purchase as well. Iām pretty sure that salvage 3 year old Huracans go for more.
While that might make sense if itās a personal car, many of these cars end up being business leases where in the overall picture it makes much more sense to lease bc of tax reasons. Not sure of OPās scenario but yeah if heās buying/leasing sans corporate usage, your idea makes much more sense.
Please tell me how you legally use a Lambo for business lol.
Driving to & from work? I think the overall business usage has to be > 50% for it to qualify AFAIK.
Not terribly difficult to do on a $5K lease.
Better yet stick on a decal for your biz on the lambo, now when you drive it around you are advertising your own businessā¦? Think about it, Lambos are a great advertising tool. They grab a whole bunch of attention.
**Disclaimer- Your boyās not an accountant, discuss this with an actual accountant before executing. I take no responsibility
This is a decent (and obviously very oddly structured) deal, but I think you can do a bit better. I was able to get an aggressive deal on a left over 2019 Huracan (non-evo) at the end of last year- which had a few demo miles on it. I talked with a few dealers until one of them bit at my offer. If you can afford it and and have always wanted one, I say go for it- but grind them a bit more and simultaneously talk to a few out state dealers who may want to move metal- shipping isnāt too bad considering how much you can potentially save.
I also looked at and drove the 570/720 McLarens. A friend of mine told me the same thing Lazarus said: āget the mclaren; itās superiorā¦the lambo is bought just for the name, etc.ā After approx 8 months of driving a lambo, I will politely disagree.
The Lamborghini is a fire breathing dragon noise wise- in this category Mclarenās pale in comparison. The experience and theater of a Lamborghini makes me feel like a little kid againā¦itās riveting and the car literally feels alive. I tried to get excited about the smaller mclaren v8 with the turbo kick, but kept gravitating towards the beastly and naturally aspired lambo V10- which may be a thing of the past soon.
Another important and well known factor is resale. Ive tested the waters and can quickly sell my non-evo huracan for $5k-$8k less than what I paid 8 months ago and get out with minimal loss (even during the pandemic). The McLaren, while being the faster car (and in the 720ās case, a much more technologically advanced vehicle vs any current Lamborghini) has much worse depreciation- meaning you will lose tons of money if you want to get out of the lease or buy, in comparison. Many people chalk this up as an underlying reliability issue. Mclaren is a young brand and has done marvelous things this last few years- but their reliability and service/warranty reputation is far from ideal. My Huracan has been bulletproof so far. Huracans are known for this, which has likely helped them sustain such great resale value. Itās epic to just get in and drive without the fear and drama of constantly broken sh*tā¦going in for perpetual repairsā¦ especially at this price/payment point.
The Lamborghini is also, well, a Lamborghini- and will be more of a spectacle of wealth to most people vs just car people- who will typically know about Mclaren (some may not want to deal with this attention, which is understandable- especially during these challenging times).
The Huracan is a beautiful machine and tons of fun, but at the end of the day itās just a car. To me, itās not worth it unless you are an extreme auto enthusiast or just have endless disposal income. Iām the former, not the latter, but was able to work my ass off and find a way to live my childhood dream. I donāt regret it one bit
The tax credits are perfectly legal in TX. When someone trades in a car they own (in their own name), they can use that amount to offset the taxes due if they purchase another car from the same dealer within a certain amount of time (was 30 days when I researched this years ago). However, if a dealer buys a lease return for inventory, they will accumulate tax credits that are available to use only when later selling a car to the same leasing company. The dealer can choose to apply those credits to anyone leasing a car from that company, because even though the buyer pays the taxes in full, they are doing so on behalf of the leasing company and the state attaches the benefit to the leasing company.
Brands differ on how they tax
Hmmm thats like someone saying Iām leasing a Toyota camry and Iām looking for a payment of $270 vs $280!!
EDIT: My mistake here, sorry! Yes you are right guys.
$3,000 differenceā¦and they wonāt acquiesce?
I think we are getting closer now. Let me see.
Where are you getting 36k from. $100 difference per month is still 3600 over 36 months.
Math is off
360 v 3600
Iāll give you the reliability issues on the mclaren, they are a relatively new brand in comparison to Ferrari and Lamborghini, however 36 month warranty is included.
Iāll give you the exhaust too with a caveat, put a novitec exhaust on a 720 and then it becomes a wash between the Lamborghini.
The attention is a huge thing for me as well, constantly getting stopped at gas stations, people gawking at lights, pulling out cameras while driving, itās fun for a few weeks and then gets old. I havenāt daily driven an exotic for a year or for a long period of time but got to for a month while my hc was getting a new driveshaft + pulleys, the experience was not so bad with mclaren, few people stopped and asked questions but most just took pics and asked if it was a ferrari/Lamborghini, with the conversation ending at mclarenā¦ something like āohā was their response.
I have done those āadventure drivesā or taking supercars/fast cars from city to city, i.e philly to Ny, dc to ny, etc etc and after driving a few friends cars and vice versa we all came to the conclusion that Lamborghinis were a tough ride for 1-3 hour trips, itās just not comfortable or hard to get comfortable if you are going longer distances. On another note Ferrari is excellent in comfortability even better than mclaren in my opinion.
No doubt the Lamborghini huracan is a great car, itās just not as enthusiast friendly when compared to whatās out there. Definitely one of the best stock exhausts on the market and the wow factor is there, the actual driving experience just didnāt do it for me.
Depreciation yeah thatās a very solid point, you should go into a lease like this knowing you can ride it out or at least transfer it, but with Lamborghini there is peace of mind in knowing that the buyout + payments and current value will not be that far once you progress into the lease.
Yes, that is what I meant! I am not sure why I even did 36K lol.
@Lazarus I agree with your assessment. I really hope mclaren can get through the next few years and continue this innovation. Once lambo has to give up their massive engines and settle for hybrids or less displacement with turbos, I will definitely give them another look.
Please close this thread!
As requested