How rich should you be to buy an exotic car?

Автокөліктер мен көлік құралдары

How does exotic car financing work? • How does Exotic Car Fi...
How does Ed afford his cars? • How does Ed afford his...
How much does it cost to own an exotic? • How much does it ACTUA...
How to make a lowball offer: • How to make a lowball ...
How to sell a car like a pro: • How to sell your car l...
How to prepare for an exotic purchase: • 10 Steps to Prepare fo...
‪@EdBolian‬ explains what it takes to safely and comfortably afford an exotic car.
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#ExoticCars #CarBuying #CarDeals

Пікірлер: 1 300

  • @MaxSpeedMike
    @MaxSpeedMike3 жыл бұрын

    You can live in a car but you can't race a house.

  • @younesskhader1150

    @younesskhader1150

    3 жыл бұрын

    That’s why i live in my car

  • @autobez3132

    @autobez3132

    3 жыл бұрын

    You never heard of trailer drag racing

  • @alexc.8505

    @alexc.8505

    3 жыл бұрын

    I’m boutta gap a civic pulling my mobile home

  • @MaxSpeedMike

    @MaxSpeedMike

    3 жыл бұрын

    @@alexc.8505 hey now i think my 20 year old civic would do just fine 🤣

  • @PaulBuffano91

    @PaulBuffano91

    3 жыл бұрын

    Living in a Lamborghini may not be the most ideal or practical thing in the world, but that’s a scarified I’m willing to make.

  • @ozzinine
    @ozzinine3 жыл бұрын

    That moment you realize why Ed was such a successful exotic car dealer...

  • @chrisreynolds6391

    @chrisreynolds6391

    3 жыл бұрын

    You're practically losing money if you don't buy a 10-year-old Gallardo.

  • @workingguy6666

    @workingguy6666

    3 жыл бұрын

    @@chrisreynolds6391 lol! And people keep falling for it.

  • @coscorrodrift

    @coscorrodrift

    3 жыл бұрын

    LMFAO on point, I'm doing percentages on my income as we speak

  • @Fraaatuto1889

    @Fraaatuto1889

    3 жыл бұрын

    This guy could be selling me a v10 m5 with 100k miles on its original engine and i'd still end up buying it

  • @earlputnal9124

    @earlputnal9124

    3 жыл бұрын

    Well you know that ALL car salespeople. Have gotta lower their customer stereotype and standards. Just for selling another car? Every once in a wildly stretched stratosphere? Lol

  • @mattbeck3933
    @mattbeck39333 жыл бұрын

    “Ed stop making these.” -my bank account

  • @shouldigetit

    @shouldigetit

    3 жыл бұрын

    lol

  • @xero256

    @xero256

    3 жыл бұрын

    I woke up my neighbors, laughing about this comment. So true. Thanks! It's been a rough week.

  • @shouldigetit

    @shouldigetit

    3 жыл бұрын

    @@xero256 Hope you have a better week going forward

  • @mattbeck3933

    @mattbeck3933

    3 жыл бұрын

    xero256 Ha! Glad I could help even a little. Hope things go better in the coming weeks and months.

  • @mxlo8504

    @mxlo8504

    3 жыл бұрын

    I was your 1000th like

  • @Kevins93cobra
    @Kevins93cobra3 жыл бұрын

    Car guys everywhere: "Hey honey, this guy online said I can buy a Lamborghini!"

  • @earlputnal9124

    @earlputnal9124

    3 жыл бұрын

    Sure. But unless your buying one for him and one for her? Don't count on her still being at home. When you get done signing your life away for that sweet Lamborghini? Lol

  • @errorloading940

    @errorloading940

    3 жыл бұрын

    😂

  • @omgvague

    @omgvague

    3 жыл бұрын

    @@earlputnal9124 She may leave, but more will come.

  • @earlputnal9124

    @earlputnal9124

    3 жыл бұрын

    @@omgvague But not the kind that you'd want to stay with? Lol

  • @Quartzhawk878

    @Quartzhawk878

    3 жыл бұрын

    @@earlputnal9124 Cheaper if you pay upfront anyway ;)

  • @BEARTAC0S
    @BEARTAC0S3 жыл бұрын

    So in short you don’t HAVE to be rich but it definitely makes things easier 😂

  • @InHerMajestiesDefense

    @InHerMajestiesDefense

    3 жыл бұрын

    gtav

  • @thesoundvault508

    @thesoundvault508

    3 жыл бұрын

    Life in a nutshell 😂

  • @alexturnqest6202

    @alexturnqest6202

    3 жыл бұрын

    Amen.😭well.. Looks like I'm going to Pilot school after all. Lmaooooo!!

  • @jacobdaus3835

    @jacobdaus3835

    3 жыл бұрын

    Actually, NO. You HAVE to be rich to own the same cars Ed drives

  • @frostbite1991

    @frostbite1991

    3 жыл бұрын

    buy a house when the market is low, refinance when the market is high. slap a big down payment on a supercar. but with cost of living in general areas, I wouldn't consider one until you make close to or over 6 figures. unless you're gunna be that guy parking his lambo at the trailer park lol.

  • @IamMugs
    @IamMugs3 жыл бұрын

    "All of your bills should be less than 50% of your income." If more people learned this, there would be a lot less trouble in the world

  • @MrEazyE357

    @MrEazyE357

    3 жыл бұрын

    Some people don't have a choice though.

  • @IamMugs

    @IamMugs

    3 жыл бұрын

    @@MrEazyE357 Of course, and those people shouldn't be buying a nice shiny new car, or a big screen TV, or a super car. Live within your means.... unlike the government Took me many stupid purchases to realize I pissed away 20 here.. 50 there. We're talking decades here. Once I stopped, I was able to buy nicer and nicer things

  • @rayman1230

    @rayman1230

    3 жыл бұрын

    Yeah tell that to the renters and mortgage companies. I can live in a shoe box but my kids can't. No reason I should live like I don't have a job when I make decent money. The dollar just doesn't go as far as it used to. 🤷‍♂️

  • @fakename287

    @fakename287

    3 жыл бұрын

    @@rayman1230 exactly, inflation goes up but wages stay the same

  • @Alex-tv3jy

    @Alex-tv3jy

    3 жыл бұрын

    If only it was that easy. I make significant more than minimum wage where i live and still only save 30% if my income due to living expenses.

  • @pwrightisright8611
    @pwrightisright86113 жыл бұрын

    Dave Ramsey already found and disliked this video

  • @Dirkdaring44

    @Dirkdaring44

    3 жыл бұрын

    Actually he would probably like it. A lot of what Dave preaches is in this video.

  • @policywonk8346

    @policywonk8346

    3 жыл бұрын

    Dave Ramsey also preaches about living minimally and lives in a 14,000 square foot mansion.

  • @chrisreynolds6391

    @chrisreynolds6391

    3 жыл бұрын

    Ed needs to sell the car, get on beans and rice, and start delivering pizzas every night.

  • @daytonwintle6051

    @daytonwintle6051

    3 жыл бұрын

    @@policywonk8346 he absolutely does not preach living minimally. Just live below your means

  • @policywonk8346

    @policywonk8346

    3 жыл бұрын

    Dayton Wintle You clearly haven’t seen his whole recent video series about living minimal....

  • @Danieltcb12
    @Danieltcb123 жыл бұрын

    Update: I still do not have enough to buy an exotic car

  • @mohitme1234

    @mohitme1234

    3 жыл бұрын

    Can’t even buy one in gta ;(

  • @keithscott2706

    @keithscott2706

    3 жыл бұрын

    @Bob Marly they aren't

  • @ghafurable

    @ghafurable

    3 жыл бұрын

    @@mohitme1234 😂😂😂😂

  • @matthew_natividad

    @matthew_natividad

    2 жыл бұрын

    I’m just trying to stay in top of my bills

  • @anzeg-
    @anzeg-3 жыл бұрын

    The 2 rules I generally follow with this is: 1: Don't ever be upside down on the car's value 2: You should be able to take the hit financially (still be able to pay rent and food) if you wrap it around a tree

  • @jtswhitewater4940

    @jtswhitewater4940

    3 жыл бұрын

    Anze G Agreed 100% but many like to live high on the hog on credit!

  • @Raynedog00

    @Raynedog00

    3 жыл бұрын

    If everyone followed this, there'd be no traffic in LA, New York, or anywhere really for that matter.

  • @DoctorTauri

    @DoctorTauri

    3 жыл бұрын

    Raynedog00 hahahahahahahaha true

  • @greyosu9247

    @greyosu9247

    3 жыл бұрын

    Get gap insurance

  • @anzeg-

    @anzeg-

    3 жыл бұрын

    @@greyosu9247 That's pretty shitty advice. Pay more money monthly to insurance because you couldn't pay more downpayment so your already too-long monthly payments for a car not worth what you're paying off in case you crash it and can't afford food. You shouldn't be in that situation to begin with.

  • @douglasbarton7135
    @douglasbarton71353 жыл бұрын

    This should've just been called "Why Ed Will Never Own a McLaren."

  • @BrazilBro_

    @BrazilBro_

    3 жыл бұрын

    12c for 80 is looking pretty smart

  • @nitro677racing

    @nitro677racing

    3 жыл бұрын

    BrazilBro is it though with potential repair costs?

  • @BrazilBro_

    @BrazilBro_

    3 жыл бұрын

    @@nitro677racing just gonna have to repair it yourself. From my research there are a lot of home remedies for issue. The worst one is the cam phaser issue that will eventually need updating and tearing the head down

  • @Borderline5440

    @Borderline5440

    3 жыл бұрын

    @@BrazilBro_ When it's $3k to replace the battery, that isn't very smart.

  • @devandrasimanjuntak1646

    @devandrasimanjuntak1646

    3 жыл бұрын

    Borderline5440 at this point, a McLaren is actually a perfect car for a lroject where you DIY the whole thing. There’s a guy in instagram called rille347 who does exactly that to his 720S, going as far as to make his own front end to the thing.

  • @calmario117
    @calmario1173 жыл бұрын

    Shrewd negotiation is actually how I feed myself. Money is for chumps.

  • @dancearoundtheworld5360

    @dancearoundtheworld5360

    3 жыл бұрын

    I heard someone say ask how much they want for it even if its not for sale or if they know anyone that has one for sale.

  • @wsshead

    @wsshead

    3 жыл бұрын

    Shrewded Wheat, breakfast of champions and brought to you by this months sponsor ...

  • @NAUT758

    @NAUT758

    3 жыл бұрын

    *puts gun to dealers head* yeah how much is the car now?

  • @mikeaninger7388
    @mikeaninger73883 жыл бұрын

    Quite useful. New title: How to prevent non-car friends and family from saying “I told you so.”

  • @EdBolian

    @EdBolian

    3 жыл бұрын

    Very important

  • @EdBolian
    @EdBolian3 жыл бұрын

    Let me know what other questions I can answer about your exotic car buying goals. Have a great day!

  • @OddShapedHead_Phil

    @OddShapedHead_Phil

    3 жыл бұрын

    Ed Bolian thanks Ed, always look forward to your videos!

  • @davidjeffries5514

    @davidjeffries5514

    3 жыл бұрын

    How to identify a good mechanic?

  • @doingcoolstuff7609

    @doingcoolstuff7609

    3 жыл бұрын

    Ed, we’ve seen all of your friends car stories but the one person we haven’t heard from is your wife! If Mrs Bolian would be up to sharing a story, we would all love to hear it. I’m sure she has one or two really good stories. Thanks!

  • @leb4life11

    @leb4life11

    3 жыл бұрын

    What do you think a non lp clean Gated Murcielago with low miles is worth?

  • @ryandono5721

    @ryandono5721

    3 жыл бұрын

    I make 5,000 a month and right now my bills total up to 2500 for everything. You think i can afford an exotic?

  • @Sailor914
    @Sailor9143 жыл бұрын

    Back when I used to maintain McLaren F1’s I calculated that it cost at least a dollar every time you stepped on the clutch!

  • @jamesshives5679

    @jamesshives5679

    3 жыл бұрын

    I always knew clutchless shifting would come in handy one day... the day I own a Mclaren f1

  • @Nar01
    @Nar013 жыл бұрын

    Why be rich when you could just *shrewdly negotiate*

  • @dancearoundtheworld5360

    @dancearoundtheworld5360

    3 жыл бұрын

    I have gotten free tools so thats the most shrewd ive been.

  • @armandotamayo2104

    @armandotamayo2104

    3 жыл бұрын

    Camry gang?

  • @alrightalrightalrightalrig1403

    @alrightalrightalrightalrig1403

    3 жыл бұрын

    Lmao

  • @joe718gt4

    @joe718gt4

    3 жыл бұрын

    Five-finger discount

  • @dchiznit209

    @dchiznit209

    3 жыл бұрын

    Like makin them an offer they can’t refuse

  • @louiss.w1944
    @louiss.w19443 жыл бұрын

    I ASKED ED BOLIAN FOR ADVICE ON BUYING my civic SI and this dude responded! Fan for life. Respect from Canada

  • @christophermcelligott1593
    @christophermcelligott15933 жыл бұрын

    I figure, "don't spend more than you can afford to lose," so I'm probably in the "not until I can buy it outright" camp.

  • @daytonaguy3584

    @daytonaguy3584

    3 жыл бұрын

    and you will probaly never have it...screw going to the grave with regrets...there are responsible ways to have it withought buying outright

  • @ApothecaryTerry

    @ApothecaryTerry

    3 жыл бұрын

    If you finance

  • @brois841

    @brois841

    3 жыл бұрын

    @@daytonaguy3584 if you're going to the grave, then by definition you don't have regrets. Dead people don't have feelings. However, those you leave behind will be left with your poor decisions and debts. I sure hope with thinking like that you don't have a significant other/dependents.

  • @daytonaguy3584

    @daytonaguy3584

    3 жыл бұрын

    @@brois841 dont really feel like engaging on this...think what you want

  • @elisscaliving4776

    @elisscaliving4776

    3 жыл бұрын

    Don’t buy a lambo outright lol

  • @1bluensx
    @1bluensx3 жыл бұрын

    Ed, great video. Very useful. My first exotic was a 1997 NSX. Bought it at 27 years old, and my dad had to “co-sign” ... but I still have it today with 52k miles, all OEM/stock. Definitely worth it.

  • @chrishayes7966

    @chrishayes7966

    2 жыл бұрын

    Sell it. You’ll get $110k

  • @bigdogshaq1979

    @bigdogshaq1979

    2 жыл бұрын

    @@chrishayes7966 na the nsx is special

  • @brettbilger1390
    @brettbilger13903 жыл бұрын

    I just forwarded this to my economics teacher with the subject: THIS IS WHAT YOU SHOULD HAVE BEEN TEACHING US!!!

  • @blockbertus

    @blockbertus

    3 жыл бұрын

    So let us know what he responded!

  • @Elitecamp27

    @Elitecamp27

    3 жыл бұрын

    @@blockbertus Same here. I'd like to hear what he/she said. the car world has changed significantly.

  • @blackshadow7192

    @blackshadow7192

    3 жыл бұрын

    I hope that's some kind microeco teacher otherwise you're going to get roasted.

  • @DominatingDrew

    @DominatingDrew

    3 жыл бұрын

    Yeah, but economics =/= personal finance.

  • @drepop803

    @drepop803

    3 жыл бұрын

    Haha nice

  • @rich873
    @rich8733 жыл бұрын

    Try to look like you won the lottery 10 years ago LOL

  • @Bob-hi2xh

    @Bob-hi2xh

    3 жыл бұрын

    You can enjoy a old car. If you are driving something to impress people around you, you're not a car guy

  • @ThePolomoloQC

    @ThePolomoloQC

    3 жыл бұрын

    I enjoy driving older vehicles!

  • @tuckersbaby

    @tuckersbaby

    3 жыл бұрын

    I don’t see myself ever owning anything made after 2006

  • @tenzinsmith7991

    @tenzinsmith7991

    3 жыл бұрын

    At least you still look like you won the lottery.

  • @earlputnal9124

    @earlputnal9124

    3 жыл бұрын

    That's so wrong. But so true. LMAO.

  • @dfw1fast143
    @dfw1fast1433 жыл бұрын

    I’ll never forget a guy telling me “for the amount you spend on all these cars you could have got a Lambo”. And he was right. Although I do enjoy driving a different shit box each day of the week.

  • @FSXflyermaster

    @FSXflyermaster

    3 жыл бұрын

    ZR1 LT5 Chris shitboxes are fun because you do care what happens to them. Or care how they look

  • @manuelmenendez8239

    @manuelmenendez8239

    3 жыл бұрын

    Liquidate and upgrade 👌

  • @ghafurable

    @ghafurable

    3 жыл бұрын

    😂😂😂

  • @ikmal63h17

    @ikmal63h17

    3 жыл бұрын

    It depends on person perspective too,some love to modify their car more than buy high performance car.For me I aiming for buying new Lamborghini and it definitely be permanent car in my garage because it's my dream car.

  • @y2ksierra
    @y2ksierra3 жыл бұрын

    I just bought a 360 Modena using the Ed lowballing tactics. Flew across the country and drove it home. It’s a dream come true even if it’s a POS to the average Ferrari enthusiast 😅

  • @okcivicx693

    @okcivicx693

    3 жыл бұрын

    Congrats! I love the 360 and if it's kinda rough that means you can drive it guilt free!

  • @y2ksierra

    @y2ksierra

    3 жыл бұрын

    okcivicx thanks! High mileage (44k) and a little rough around the edges, the perfect guilt free Ferrari! Will try to make some videos on it here soon as it needs a lot of little odds and ends and I’ll also be doing the maintenance myself.

  • @MbTrojansurgeon

    @MbTrojansurgeon

    3 жыл бұрын

    Good job man!! Who cares what other chumps think-you are living your dream man

  • @VINwiki
    @VINwiki3 жыл бұрын

    Check the description for links to other videos of exotic car buying advice from Ed.

  • @ashp5406

    @ashp5406

    3 жыл бұрын

    you mean when he created whole vinwiki to drive up price of Manual LP640 to sell at profit and use that money to buy another free of debt....best advise ever

  • @Matthew-np9fk

    @Matthew-np9fk

    3 жыл бұрын

    We know it’s you Ed

  • @Gearbhall

    @Gearbhall

    3 жыл бұрын

    video idea - how you evaluate a car you are considering purchasing to decide what you need to offer in order for the purchase to make sense.

  • @snowren24
    @snowren243 жыл бұрын

    I know a few were mentioned in here but a video going over "entry level" exotics would be awesome.

  • @VINwiki

    @VINwiki

    3 жыл бұрын

    Good idea

  • @mattmatthews5414

    @mattmatthews5414

    3 жыл бұрын

    VINwiki yes, please!

  • @retrorewind6042

    @retrorewind6042

    3 жыл бұрын

    I can already predict the first gen r8, gallardo and ferrari 360 being the main 3 people think of. Maybe a mclaren 12c but that ones iffy

  • @bigmaxcc

    @bigmaxcc

    3 жыл бұрын

    snowren24 👀clean record clean credit score would be the first

  • @snowren24

    @snowren24

    3 жыл бұрын

    bigmaxcc haha well no points (for now) and a 780 score.

  • @MrInternFTL
    @MrInternFTL3 жыл бұрын

    Ed: when can you afford your exotic car? Me who’s 13 who can’t even get a job : interesting...

  • @VINwiki

    @VINwiki

    3 жыл бұрын

    It's closer than you think!

  • @shamanosarcasm9800

    @shamanosarcasm9800

    3 жыл бұрын

    1. Dream 2. Write your dreams down 3. Work and save and make steps to make your dreams come true There is nothing stopping you from achieving your goals.....

  • @bigmaxcc

    @bigmaxcc

    3 жыл бұрын

    Bathroom Sign work hard hustle it be easy

  • @forresttm

    @forresttm

    3 жыл бұрын

    Remember the 50% rule..

  • @justinjohnson623

    @justinjohnson623

    3 жыл бұрын

    Better than dreaming of being tik tok famous.

  • @MBisFrenchy
    @MBisFrenchy3 жыл бұрын

    I agree 100% with the C2S logic most people don't look at the depreciation close enough long term.

  • @petrolfever
    @petrolfever3 жыл бұрын

    Now I just need a video on how to convince my wife that its a financially responsible decision!

  • @Brianlikescars

    @Brianlikescars

    3 жыл бұрын

    Financially responsible and fun cars are not in the same conversation 😂 maybe an NSX though if you keep it stock.

  • @franciscodanconia4324

    @franciscodanconia4324

    3 жыл бұрын

    I’d like to see a video from Ed’s wife on this subject.

  • @brois841

    @brois841

    3 жыл бұрын

    If you need to convince your wife that it's a financially responsible decision, then chances are it's not ;)

  • @user-oc4np2bu2r
    @user-oc4np2bu2r3 жыл бұрын

    Ed. Outstanding job. Seen people dig themselves into overwhelming debt because no one took the time time to explain this to them

  • @KevinMcMullen.
    @KevinMcMullen.3 жыл бұрын

    Great video. I have stressed myself out a lot buying exotics and trying to keep them under 10% of my net worth. It always ended up being more like 25% which ultimately made me feel I wasn't making a "grown" up decision keeping them. Glad you made this makes me feel better about going over 10%.

  • @McPsalms
    @McPsalms3 жыл бұрын

    "Look like you won the lottery 10 years ago " 😂

  • @tbaker1985
    @tbaker19853 жыл бұрын

    Having Ed as my life coach on youtube costs me 12.99 a month. Worth every penny.

  • @beachboisurf
    @beachboisurf3 жыл бұрын

    Great info and a conversation that no one but you Ed could have and say the word “responsibly “ and mean it. Thank you for the wisdom. Here’s to our super car aspirations.

  • @Kyle_Duffy
    @Kyle_Duffy3 жыл бұрын

    For all the 15k V10 M5's I have saved on Facebook Marketplace, this answer was unintentionally extremely direct lol

  • @vegeta12379

    @vegeta12379

    3 жыл бұрын

    Do rod bearings and vanos the day you buy it, and save for the SMG dying and you'll be fine

  • @MegaE46

    @MegaE46

    3 жыл бұрын

    I still want a V10 M6!

  • @kickhuggy
    @kickhuggy3 жыл бұрын

    I would ask Ed to convince my wife for me, but I’m also worried he’ll do more than that

  • @j.a.martinez4001
    @j.a.martinez40013 жыл бұрын

    Good Morning here on the west coast. Thanks for the Upload Ed, Love starting the day with your stories or your know how knowledge. Have a wonderful day!

  • @bobmcl2406
    @bobmcl24063 жыл бұрын

    Good, clear insight. Many people have trouble seeing beyond a simple monthly payment. Your explanation may help some folks "raise their eyes" a little, and understand car ownership (exotic or otherwise) in a wider context. And dang you are easy to listen to!

  • @DangerousDaveM3
    @DangerousDaveM33 жыл бұрын

    6:45 I felt that :( I didnt have bearing failure, more the rod leaving the block failure. But what a car the M6 was while I had her.

  • @iiNgONYaMa

    @iiNgONYaMa

    3 жыл бұрын

    Shit!!!

  • @shamanosarcasm9800
    @shamanosarcasm98003 жыл бұрын

    Ed, just wanted to let you know that I used your 'used vehicle buying tips' when I bought my daily driver 2018 Titan XD last month. Contrary to your belief, your advice IS applicable to non-exotic cars. I feel I managed a shrewd negotiation and bought the truck for $4K under asking, which may not seem like much, but it frees up that money for any equipment or aftermarket parts I want on it. Thanks for the great content and confidence to get what I want without getting worked over at a dealership!!!

  • @GloomGaiGar

    @GloomGaiGar

    3 жыл бұрын

    being smart with your money applies to any situation tbh

  • @stephans1990
    @stephans19903 жыл бұрын

    There is this guy in my country who has a really common construction job and spends almost literally any penny he owns on his cars. Dude has owned a nearly endless list of exotic cars and currently drives a Lamborghini Murchielago. The guy really should have his own KZread channel, but he does occasionally pop up in car vlogs and magazines.

  • @TheBlackopsbeast360
    @TheBlackopsbeast3603 жыл бұрын

    New points of view always appreciated!

  • @michaelo8304
    @michaelo83043 жыл бұрын

    Great to see another Ed story!

  • @mr.blonde1709
    @mr.blonde17093 жыл бұрын

    my porcelain echoes with the whiskey flavored baritone that is Ed's voice as i clog-up the crapper again.

  • @MbTrojansurgeon

    @MbTrojansurgeon

    3 жыл бұрын

    This deserves a million likes bro... I shit myself laughing

  • @edwardramos9666
    @edwardramos96663 жыл бұрын

    Great conversation to have. I like that you took a responsible approach to this.

  • @y.t.928
    @y.t.9283 жыл бұрын

    Thanks Ed. As someone with a very humble background that now owns 2 Porsches and a Mercedes, I appreciate straight talk and your channel in general.

  • @polarbear111000
    @polarbear1110003 жыл бұрын

    This is really good advice. My '18 Acura NSX is pictured left. I've spent nothing on this car in my 1 1/2 years of ownership beyond the monthly payments, gas, and I do the maintenance myself which is a few hundred dollars.......That's exactly the way I planned it. I bought it brand new, with a warranty that I haven't had to use, and with Honda reliability, I'm pretty sure she'll be problem free for many years. As for depreciation, that only matters if you plan on selling the vehicle........I don't sweat depreciation. BTW traded in my Gen V Viper GTS for this....made $29K..on that....

  • @okcivicx693

    @okcivicx693

    3 жыл бұрын

    Congrats! Love the NSX. Enjoy it

  • @israels5033

    @israels5033

    3 жыл бұрын

    So you plan on keeping your NSX for??? I want one and I love the NSX but it really is a bad example for this strategy that Ed explains in the video. Probably the worst depreciating exotic after Maseratis. 2017/2018 examples can be found now for 115-130k

  • @ikmal63h17

    @ikmal63h17

    3 жыл бұрын

    Happy for you. I also want to buy my first exotic car which is Lamborghini brand new because I want to spec it as I want.This car will permanent car for me since it's my dream car

  • @GregScholfield
    @GregScholfield3 жыл бұрын

    THIS is the one I’ve been waiting for!

  • @thesmockinggunYT
    @thesmockinggunYT3 жыл бұрын

    Ed: my first exotic car purchase was financed through the Japanese Mafia and they were shrewd negotiators. *VinWiki opening plays*

  • @johnpick8336
    @johnpick83363 жыл бұрын

    Another Classic From Ed's Secret Lifestyle Nuggets: "Travel Like You Won the Lottery Ten Years Ago". Thanks Ed !

  • @Gman7774eye
    @Gman7774eye3 жыл бұрын

    Ed’s talking I’m in!!!

  • @snuzly
    @snuzly3 жыл бұрын

    Nothin like some VINwiki to start off the morning

  • @EdBolian

    @EdBolian

    3 жыл бұрын

    Have a great day!

  • @luukandela

    @luukandela

    3 жыл бұрын

    Its 17:20 rn 😂

  • @diegogolfhotel
    @diegogolfhotel3 жыл бұрын

    Thanks for your vids Ed! The videos with you always feel natural, like it’s you talking directly to the viewer, which is awesome. Keep up the awesome work!

  • @ModeSarka
    @ModeSarka3 жыл бұрын

    Thank Ed, very relatable topic!

  • @leb4life11
    @leb4life113 жыл бұрын

    When i heard Ed was telling a story I had to be early!

  • @EdBolian

    @EdBolian

    3 жыл бұрын

    Thanks for being early!

  • @leb4life11

    @leb4life11

    3 жыл бұрын

    @@EdBolian Well I'm in Australia so midnight isnt too bad! Thanks for posting early so I get to watch before bed!

  • @kirkpatrickdavid
    @kirkpatrickdavid3 жыл бұрын

    Wise words - this is pretty much the exact considerations I had before I bought my LP560. With regards to maintenance costs, try to find a car that’s had major necessary work done recently. In the case of my Gallardo, I found one that had a new clutch installed (one of the inevitable big expenses with these cars). It doesn’t add much to the sale price, but is worth hunting out in order to avoid paying the extortionate cost further down the line.

  • @SimeonDTaylor
    @SimeonDTaylor3 жыл бұрын

    Ed gives great advice for anyone wanting to buy any car... whether you are rich or poor. Debt ratio, income, maintenance, and up keep he provides sound advice.

  • @user-zs5of5en5o
    @user-zs5of5en5o3 жыл бұрын

    Enlightening video. I’m going to be on the market for my first exotic in 2022-23. This was informative. Thx Mr Bolian.

  • @didafm
    @didafm3 жыл бұрын

    I like this. He gave alot of information and tips that he didn't have to.

  • @kevinharper7037
    @kevinharper70373 жыл бұрын

    I expected not to like this video, as i am more of a Dave Ramsey person, but I was pleasantly surprised.The key, from ed, is avoiding that loss of principle which is done by buying used. I think ramsey would approve. I do not like the concept of financing a car. I have financed one car in my entire life and hated it so much that have never done it again. I have also had what most people would consider exotics my whole life. In my 20's I had a Porsche, a Ferrari and a Lotus at various times, and I had no real money. Each one was purchased "With needs" and after it was fixed and I had enjoyed it a while it was moved on for the next one. The Porsche replaced a Duetto, the Ferrari replaced a Fiat Dino (Which surprisingly the Fiat Dino is worth much more than a 308 now) and the Ferrari was replaced by a Lotus. Each had a car that financed it's purchase. I don't know how easy this would be to replicate as this was during the 80's and cars were simpler, but i do know that putting a clutch in a gallardo is not rocket science, and you can buy a Gallardo that needs a clutch for a lot less. Ultimately what I got from this video is that you can play with exotics without going broke and if you are somewhat smart about it you may not make money but you can turn it into a zero sum game.

  • @bradleyland
    @bradleyland3 жыл бұрын

    This is great Ed. Once someone understands finance, a whole new world of common sense opens up. How much does a car cost? Depreciation + finance costs + MRO (Mainenance, Repair, and Operation).

  • @VincentDarkIron
    @VincentDarkIron3 жыл бұрын

    Wouldn't that be amazing to have all the stories avaliable as podcast on Spotify as well ? Has it been though already ? Thank you for your work Ed !

  • @chadandersen2774
    @chadandersen27743 жыл бұрын

    I don’t have a high priced exotic in mind. I’d like a gen 1 or 2 Viper and build it from there.

  • @ArturBrzozowski444
    @ArturBrzozowski4443 жыл бұрын

    This series is gold I have never had a car but when I will do it might as well be an exotic 😅

  • @stevekissel605
    @stevekissel6053 жыл бұрын

    Great vlog 👍 Keep them coming.

  • @RowdyGood
    @RowdyGood3 жыл бұрын

    Great video, very honest. Thanks Ed.

  • @konnectoneforexsignals7844
    @konnectoneforexsignals78443 жыл бұрын

    I blindly and emotionally bought my dream car, I had no idea I was going to get hit with $12,000 in maintenance and repair costs in first 14 months of ownership but I still never regret it and would do it again.

  • @brois841

    @brois841

    3 жыл бұрын

    which car is that and what kind of maintenance/repairs?

  • @donaldtrumpsgoochhair4472
    @donaldtrumpsgoochhair44723 жыл бұрын

    I bought an expensive car before I could truly afford it and I was so stressed out driving it, always worried about it breaking down. Luckily I sold it for what I paid for it and learned my lesson

  • @EdBolian
    @EdBolian2 ай бұрын

    We should make an updated version based on current economic situations.

  • @lb34mwr
    @lb34mwr3 жыл бұрын

    I really like his videos. I am using this logic on my next new/almost new truck purchase

  • @leroy2576
    @leroy25763 жыл бұрын

    Don't forget about insurance. I was eyeing my dream car and all the numbers were lining up, until I called the insurance companies.

  • @lwdn3379

    @lwdn3379

    3 жыл бұрын

    Forreal. That's what people don't realize. Even if you have a good record, the state/city you live in can definitely play a huge factor in that.

  • @leroy2576

    @leroy2576

    3 жыл бұрын

    @@lwdn3379 You are correct. We were told by multiple in a high risk area because of the number of accidents. So even if you have a good record, it might stop you from getting that dream car.

  • @sjtanman
    @sjtanman3 жыл бұрын

    You are the most enjoyable guy on KZread I mean that truly.... Freddie is a distant 2nd

  • @hheythered
    @hheythered3 жыл бұрын

    Thanks for this Ed, great video.

  • @DB2A7
    @DB2A73 жыл бұрын

    Great video Ed. Thanks.

  • @nothingheretowatch7371
    @nothingheretowatch73713 жыл бұрын

    this was super usefull thank you

  • @EdBolian

    @EdBolian

    3 жыл бұрын

    My pleasure. Good luck!

  • @orangecayman520
    @orangecayman5203 жыл бұрын

    I was just thinking about this

  • @tazahsan
    @tazahsan3 жыл бұрын

    This is really great information thanks so much!

  • @roscaoctavian98
    @roscaoctavian983 жыл бұрын

    So happy I found this video. I can see everywhere on the internet giving financial advices about cars but none of them were truly car enthusiasts. Everyone sees a car like a status symbol and no more than that. To me, is the motivation of moving forward, the reason why I don't give up, the strength of belief and the ambition to succeed. You can't tell me to spend no more than 10% on a car because otherwise is iresponsabile

  • @bryanwhite3021
    @bryanwhite30213 жыл бұрын

    I owned 4 cars as a 24 year old, I lost alot on my previous 15 Audi A6 when I got my c43 amg. Very nice cars but I should have just stayed in my 11 ford taraus with $25k in the bank and bought a old Porsche to have fun in. Still doing great but I've made a promise no new cars until I can buy my Lamborghini huracan and if the c43 shits itself then I'm trading it in on a 03-05 e500 or 12 Honda accord

  • @bd233

    @bd233

    3 жыл бұрын

    What do you do brother?

  • @thehandsomenipple3623

    @thehandsomenipple3623

    3 жыл бұрын

    damn 24...

  • @elisscaliving4776

    @elisscaliving4776

    3 жыл бұрын

    Nice

  • @ikmal63h17

    @ikmal63h17

    3 жыл бұрын

    24.What do you do?

  • @GreenBeamGlockCassarole
    @GreenBeamGlockCassarole3 жыл бұрын

    Been saving up 8 years I always have $700. Might buy a lambo

  • @SuperPrem

    @SuperPrem

    3 жыл бұрын

    You can buy about 700 Lamborghini's..... Hot wheels

  • @realleescoggins
    @realleescoggins3 жыл бұрын

    That was great Ed. Well done sir.

  • @Khanh.Nguyen369
    @Khanh.Nguyen3693 жыл бұрын

    Love this talk. Great job.

  • @TheG60528XiJinPing
    @TheG60528XiJinPing3 жыл бұрын

    Sees title Dave Ramsey will like this one

  • @evictioncarpentry2628
    @evictioncarpentry26283 жыл бұрын

    I've always lived by the motto "you can live in your car, you can't drive your house"

  • @StealthX3000

    @StealthX3000

    3 жыл бұрын

    You obviously don't have a wife or kids or actually still live at home with mum and dad.

  • @luclapierre7621

    @luclapierre7621

    3 жыл бұрын

    @@StealthX3000 can't drive those either

  • @anthonymendoza6210

    @anthonymendoza6210

    3 жыл бұрын

    @@luclapierre7621 Lol

  • @dhabbott41
    @dhabbott413 жыл бұрын

    Thoroughly enjoyed the video.

  • @Johnnyvo30
    @Johnnyvo303 жыл бұрын

    I’m so glad i watched this video! Learned a lot

  • @scyclone1138
    @scyclone11383 жыл бұрын

    Lotus Elise is a great car for this

  • @Kadencabs

    @Kadencabs

    3 жыл бұрын

    An e60 is too

  • @perpetuallynovel
    @perpetuallynovel3 жыл бұрын

    Ed, thanks for a great analysis as always! I approached buying my GT-R with this mindset almost 10 years ago and it's proven to be a great purchase as far cars go. The car is paid for now and I've considered trading for a manual R8 or Gallardo because I think the manuals are a bit more depreciation-proof. Any thoughts on that?

  • @osiris1309

    @osiris1309

    6 ай бұрын

    Everything is always a bubble. Over 60% of all 911 GT3s sold in the US are with a manual transmission. Still think they are rare and special?

  • @sickvendetta9
    @sickvendetta93 жыл бұрын

    Great video thank you ! Learned a lot

  • @silvershot07
    @silvershot073 жыл бұрын

    Thanks Ed, I'll use this for when I get my first Viper.

  • @CharlieBrownGaming
    @CharlieBrownGaming3 жыл бұрын

    Since the hurricane decided to spare us I shall continue my morning routine of vinwiki and coffee love to hear the stories and it helps me be in a better mood for the rest of the day!!

  • @CarswithNash
    @CarswithNash3 жыл бұрын

    I’ve always had about 100% of my net worth invested in cars at any given time...🤷‍♂️🤣

  • @Fedgery007
    @Fedgery0073 жыл бұрын

    So helpful! Thank you!

  • @stevevlahos5469
    @stevevlahos54693 жыл бұрын

    Ed, I always enjoy your videos. I wanted to know if you read a lot of books. You have a way with words when telling your stories, it adds so much more “flavor”.

  • @KhizerHusainlol
    @KhizerHusainlol3 жыл бұрын

    Honestly surprised MasterClass hasn’t contacted you yet

  • @pistachiosandpopcorn7146
    @pistachiosandpopcorn71462 жыл бұрын

    If you're asking this question then you're probably not rich enough.

  • @michaellong9259
    @michaellong92593 жыл бұрын

    Very interesting listen I enjoyed it thanks ed

  • @richardbailey511
    @richardbailey5112 жыл бұрын

    Thanks for the info. Great stuff

  • @daveblock4061
    @daveblock40613 жыл бұрын

    Get a Lotus Elise for less than a Civic Type R, like I did.

  • @cmendoza244

    @cmendoza244

    3 жыл бұрын

    Are they reliable ?

  • @EdBolian

    @EdBolian

    3 жыл бұрын

    Great idea

  • @jo1948

    @jo1948

    3 жыл бұрын

    Shh don't tell anyone. I'm saving up to buy one, and I hope they don't explode in price before I get there.

  • @deejayyy1681

    @deejayyy1681

    3 жыл бұрын

    Get a lotus AND put a Type R motor in it!

  • @e36fanatics

    @e36fanatics

    3 жыл бұрын

    @@jo1948 where i live cheapest lotus elise is 35k€ what in the....

  • @noahlail4018
    @noahlail40183 жыл бұрын

    I by no means have the income to even finance an exotic but by God im gonna research financing for these cars for the rest of the month😂😂

  • @xero256
    @xero2563 жыл бұрын

    Good to know this kind of information. It's not something that everyone thinks about. It's also something that you have to factor in when making a purchase. It doesn't have to be an exotic either. It could be a sports car or something that the lay-person that doesn't have a larger income can afford.

  • @T43B1GD0G
    @T43B1GD0G3 жыл бұрын

    Everything Ed just said.. i wasn't listening to purchase an exotic car.. i was listening to purchase a $15000-$30000 car and everything still applies and is still relevant. Ed is brilliant

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