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Should You Really Spend $250,000 On a Car?

This is a question only you and your tax accountant can answer. There are definite good reasons to spend a quarter of a million dollars on a car, and definite bad ones.

Most people who would consider this kind of purchase aren’t in a position to have to deal with the bad ones, but it never hurts to check with your accountant before you commit to a major investment.

The better reasons to spend this much money on a car include the investment potential of getting one below market, restoring it, and reselling it.

carThis is basically what I do with my cars, rotating a collection of about five active vehicles at any time. In my case, I’m lucky enough to buy low and also sell below market. This means I get to help people who otherwise couldn’t afford a luxury sports car to have one. This is a reward to me that is greater than cash could ever be.

Another good reason to spend significant capital on a car is that, much like a boat, the car is a hobby that keeps giving you reasons to spend.

Do more, go faster, look cooler – and pay for all of it.

This is not a poor man’s hobby, or a rich man’s folly. The car is going to become a major part of your life, so considering its needs before you go in is admirable. Determining if you have time to care for your pet car is also important before you buy.

If you have the money and want the car, I would say go for it. But still shop around and make sure you are getting a good solid deal.

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Luxury Car Dent Repair: Does Any Mobile Repair Shop Work?

It should go without saying that a dent in a luxury sports car is going to be hard to get out.

The tools and items needed to properly treat extract the dent without damaging the paints or the area around the dent are not kitchen-drawer bills.

An auto body shop can be quite expensive and have long wait times if you happen to get dented in a bad time of year. If you give your car to any mechanic, they may tell you they can’t do auto body work, but it’s likely they have someone on staff who can perform the job, if you’re having other work done at the same time.

Don’t make my mistake…

I have gone this route with my cars many times. Particularly since they are sometimes retrieved from scrap, or brought to auction unable to run, there is a better than even chance my cars will require some body work or restoration.

However, sometimes a car doesn’t really need much – a dent on the rear passenger side quarter panel, for instance, or a touch up with paint. I can handle those myself, saving money and time.

Some tools that may help you

tools

I have used the following tools to remove dents: hair dryer, plunger, kitchen spatula, crowbar, hammer, glazing putty, bondo and an actual car dent removal kit.  I have had the best success with the hair dryer and the putty.

However, these specific dents were the right kind of dent for that tool, and that makes all the difference. If you are looking to remove a large dent by using glazing, there’s no way. Likewise, using a plunger on a small ding is not going work well.

Make sure you’re using the right tool for the right job.

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Ferrari vs. Lamborghini: Which is Your Favorite?

The two Italian powerhouse auto makers have the best sports and luxury cars in the business. They’ve both been engineering to the total capacity that they can produce. In fact, they’re releasing to the total market capacity for adoption as well.  So let’s compare the two automotive greats.

Beauty

There are some significant differences in the look of the two cars. The Lamborghini has vertical gull wings, and a more compact, sporty look.

The Ferrari has a lot of panache, but it’s grown up panache – all responsible, and stuff, but with class and sophistication. There is a roadster model available for each, and that is probably a more practical choice for people who are not alone.

Costs

The horsepower drops almost 100 points, but the price goes up by nearly fifty thousand dollars? Where else can you get away with this?  How are people getting away with it?

It’s actually because the market will bear it. In fact, Ferrari (2010 numbers) beat Lamborghini’s numbers hands down, by almost 6000 cars produced.

With Fiat as the Ferrari parent company and Volkswagen as the parent of Lamborghini, there’s a big cultural difference all the way around the organizations.

Reviews

The fact that the price differential is wide, and that there is a pretty solid production output on the Ferrari, most first time buyers of this type of luxury sports care will probably gravitate to Ferrari.

The Lamborghini supporters will be more comfortable with the long history behind the brand. They have multiple options in body styling, and if a buyer doesn’t want to take a risky decision under pressure, in some cases dealers can accommodate you with a loan.

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