Insuring A Lamborghini Gallardo At Age 29?? *Price Will Shock You*
Автокөліктер мен көлік құралдары
👋 So you are looking to buy a Lamborghini Gallardo? How much to you think it costs to own a 2014 Gallardo and keep it on the road? I just bought my childhood dream car at age 29 and in todays video I go over how much I paid for my 2014 LP550-2 along with what insurance and registration costs for my Lamborghini. I also mention why I am currently rebuilding my Gallardo myself rather then using insurance. Since I was on a racetrack when I crashed my Lamborghini I really didn't have insurance. However even if I did have a track policy for the event. Given the damage would be about $100,000 worth of parts and labor. Having a six figure claim on my record would make my rates skyrocket and give my Gallardo most likely a salvage or rebuilt title. Which would tank it's value. So for the cost of what my premiums would be over the next 4 years had I submitted a claim, I can just fix it myself and keep my rates low and maintain a clean record on my car. Also I don't like relying on other people to help me, so just doing it myself keeps my in control of the rebuild and I know I will make this car perfect. Also within two months I've got my Lamborghini perfectly drivable and am able to enjoy driving it while I fix it. At a shop this would probably be gone for a year getting fixed. Overall insuring my Lamborghini at age 29 is pretty cheap. $1,300 per year for full coverage seems like nothing! Clean record on my end goes a long way. All the more reason to not have this crash on my record. Highest deductible and paying annually keeps it low. Registration for the Gallardo is about $1,300 as well which included North Carolina yearly property tax. So overall it's really nothing too crazy to own. I paid just under $140,000 out the door with my sale price bing $135,000. Seems like a very good price for the car and watching the market on the LP Gallardos, they seem to be listing in the $140k range but selling in the mid $130k range. So I did well buying the car. I also budgeted for anything going wrong and that's why I set my budget at $140k out the door. Depending on the price point of car I buy, I always set aside $10k-$30k for emergencies. Unfortunately I crashed my Lamborghini Gallardo and am dipping into my emergency fund to fix it. But thankfully this damage is all something I can handle. So if you plan to buy a Lamborghini be wise! Don't overextend your budget, and plan to have extra in case something happens. Selling my GTR along with all it's aftermarket parts was the majority of my down payment and of course not having a GTR payment for about two years from when I paid it off till buying the Lamborghini let me easily have $100,000 to put down. A simple $40k loan which I plan to pay off beginning of 2025 will give me a good business write off as well. So be smart when buying an expensive supercar, and you will find it's really not all too crazy to own!
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Insuring A Lamborghini Gallardo At Age 29?? Price Will Shock You
Music By: www.epidemicsound.com
#lamborghiniinsurance #lamborghinigallardocost #lamborghiniownershipcost
Пікірлер: 47
Good information! And a very good price for the car, too.
@BrosFOURRSpeed
5 ай бұрын
Yeah I was surprised how this really isn’t anything crazy to own!
Man, insurance is such a scam. Submit a claim, insurance goes up. Why do you even play in the first place.
@its.Andy1
5 ай бұрын
Agreed. You’re telling me I gotta pay a monthly fee just to pay a deductible to get my car fixed if an accident out of my control were to happen? Granted, I haven’t had any accident for the past 8 years, but god forbid I ever get into one, shouldn’t the insurance company automatically cover full cost (if it’s not totaled) for the years of me paying already? At least that’s the way I look at it.
@BrosFOURRSpeed
5 ай бұрын
So true! Only worth it if someone hits you. Or maybe if you get very hurt. But a single car accident just not worth it. I’d rather just have basic coverage if someone hits me
@BrosFOURRSpeed
5 ай бұрын
@@its.Andy1Yeah it’s just a money maker for the companies. You’ll end up paying for a crash anyways with the higher rate after submitting a claim
@VehicleVibes_
Ай бұрын
@@its.Andy1 3 big mistakes here. First, You don't pay a deductible if something out of your control happens? Lol you pay a deductible if YOU are AT FAULT in an accident. And only then does your rate go up. If someone hits you, THEIR insurance can fix your car with no deductible. If someone hits you and they don't have insurance, your company likely offers a waiver in that situation so you also don't have to pay your deductible. 2nd, Dont think about insurance on an individual level. It's all math, data accumulated by accuarials that's deduct what a plausible premium to collect from you is based off common risk factor. 3rd and the BIGGEST. Insurance may not seem all that great for your property, i.e your car. But MAN OH MAN will you be happy you have insurance if you ever SERIOUSLY/permanently injure someone or end someone's life in an auto related accident. But it's how everyone feels. Never been in an accident? OMG INSURANCE IS A SCAM. Caused a major accident yourself? Thank GOD I have good insurance 😂 but how dare they charge me more after crashing into someone. Oh people. Yes, even accident have consequences. Hope that helps!
Brian, you always work through the numbers before you move. Its one of life's Godly principles. Very wise. You're teaching others how to operate. Enjoy the Lambo. ( And i think you should go carbon fiber for the other side view mirror lol ) do you still have the Supra?
@BrosFOURRSpeed
5 ай бұрын
Yeah I like breaking things down to show how simple owning a car like this could be! Still debating on mirror color 😅
Your costs are very similar to mine. Mine is a 2011 560-4. Insurance is $1600 CDN. However my deductible is $5k as in Canada all cars over 500HP have this deductible. I am going to shop around later this year to see if I can get a better rate. These cars are reliable and awesome to drive. Thx for posting your costs.
@BrosFOURRSpeed
5 ай бұрын
Oh cool! I wish I could have a higher deductible on my cars to lower the premium even more lol. But $1k is as high as they let us go. Fun cars!
Wow, great information
@BrosFOURRSpeed
5 ай бұрын
Glad you think so!
I'm a doctor and haven't pulled the plug on getting a Gallardo because I figured the insurance would be so high. This really surprised me.
@BrosFOURRSpeed
2 ай бұрын
If you have a good record and have the highest deductible it shouldn't be anything expensive. Although, you zip code effects it a ton. If I lived in Michigan It'd probably be $4k a year
@GabrielHill1
Ай бұрын
Get one. Life is short.
Der Gallardo in Top Gear, ein tolles Auto ❤❤❤❤❤außerdem der R8 und der Murcielago in der Sendung fantastisch 😍
@BrosFOURRSpeed
3 ай бұрын
It’s an amazing car for sure!
Very informative video. Just wondering is there a mileage restriction on your insurance policy?
@BrosFOURRSpeed
5 ай бұрын
Nope. It's just a normal car. If it was leased there might be. But I have this at 5k per year since I have multiple cars and press cars. I doubt I'll put more then 5k on an individual car in one year.
You mentioned the tires are less than 5 years old. Do you think the age of the tires were a factor of what caused the Lambo to spin out?
@BrosFOURRSpeed
5 ай бұрын
I don’t think age was. But they are definitely harder tires then what I’m used too. But I think the stiff suspension is what made the car unsettle so easy on the bump. And then the harder compound just didn’t give me anything on the semi slick ground
I’m 53 and pay more for insurance on my 2021 1 ton company pickup with 70k on it. I’m sure more people wreck their trucks than Lambos.
@BrosFOURRSpeed
5 күн бұрын
Shop around for other companies, but newer vehicles also do cost more to insure.
WOW! I would love to have that type insurance, I have a 2010 f-350 and a 2002 BMW M3 with a clean driving record and 62 years old and I pay yearly and have highest deductible , I pay 3200.00 a year. I live in Philadelphia Pa which according to a recent article just got hit with highest rate increases in the country.
@BrosFOURRSpeed
3 ай бұрын
Oh wow! Yeah in NC, things are pretty cheap!
@davidjaskiewicz3461
3 ай бұрын
@@BrosFOURRSpeed The registration fees are reasonable thou, the car is 34 dollars per yr and the truck is 267 dollars per year.
@BrosFOURRSpeed
3 ай бұрын
@@davidjaskiewicz3461 oh gotcha
@Bmw-Hk
5 күн бұрын
Look for a different insurance co.
Maybe I missed it, do you have some sort of specialty insurance? Rather than the normal insurance companies.
@BrosFOURRSpeed
5 ай бұрын
No just normal car insurance like any other car. I did not take out a specific track policy for the event we did. Normal car insurance doesn't cover track use. Even for a casual charity event. So taking any car on any track, you'll need a track policy to have insurance on
Doing all of this work yourself is certainly financially advantageous as well as personally fulfilling. However it doesn't erase the fact that there was potentially $100K in repairs made to the car. If you ever sell it, and it gets appraised by an expert, they will be able to tell immediately that repairs were made regardless of the status of the title. I'm loving this series of vlogs and seeing the progress of the work. I love watching people repair their cars themselves. However, I feel like there is too much focus on all of this work being done to keep the accident off the vehicle history and keep the title clean. Yes, that is the case but ethically all of this work should be disclosed to any prospective buyers in the future. That disclosure will absolutely affect the value of the car. New fender, new door, new rear quarter...that is all bodywork regardless of them being OEM panels.
@BrosFOURRSpeed
5 ай бұрын
Actually not really. The door is a replacement. Nothing about it would tell you it has been replaced. All of the panels are OEM. The reason it would be $100k fix is because each panel is very expensive brand new. You would never be able to tell these few panels were replaced. Not sure if a paint meter can read on aluminum. But you would really only be able to figure the that the rear fender was replaced. If I ever sell the car of course I'd disclose stuff like I mentioned in the video. But overall the car is all OEM parts and most pieces I put on the car have original Lamborghini paint on them. So nothing will stand out. But I don't plan on selling the car anyways. Also it's more about not having the claim on my record. I'd end up spending a good $30k in premiums over the next several years with a claim like this. Might as well fix it for the same price now and have clean record for the future, higher resale value since the car won't be effected and have the car usable the entire time and get the business right off on the parts. So it's more than just keeping the cars record clean.
in canada i had to apply for my insurance and it took five business days. so dumb
@BrosFOURRSpeed
2 ай бұрын
Oh interesting. Most of the time we have ours ready same day
@timh1187
2 ай бұрын
@@BrosFOURRSpeed yeah that’s normally here too. Just depends on the car. I have a really nice 08 Aston vantage. Just walked in and wasn’t even a big deal.
@BrosFOURRSpeed
2 ай бұрын
Oh nice. My friend owns the insurance film I use, so having my own agent, makes it even easier then the big companies. But even when I was with the big companies, it was always same day
Which is faster...the lambo or rs3?
@BrosFOURRSpeed
5 ай бұрын
RS3 will launch quicker. But the Lambo probably has more top end.
1300 a year
@BrosFOURRSpeed
5 ай бұрын
Yeah nothing crazy!
Insurance = Legal Mafia
@BrosFOURRSpeed
5 ай бұрын
lol yeah they can get you pretty good!
If you make a video it will find its way on the record.
@BrosFOURRSpeed
5 ай бұрын
No it won’t. It’d only do that if I submit a claim and an adjuster looked at the car.
Full coverage at that price is unreal 🥲
@BrosFOURRSpeed
5 ай бұрын
For real! Nothing out of the ordinary!