How To Afford A Lambo?
Alright so, other than my introduction, this is my first post here. I have been thinking about this idea for a while, but I need some perspective to un-noobize it.
Owning a Lambo is definitely one of my dreams in life and I hope to achieve it. I'm a senior at the business school at UT and I'm graduating this December. I plan on working for a while to build up some cash and then purchase a home around $100-150k as my first home. Now I'm assuming my salary would be able to afford a $1500 monthly payment for my mortgage and $400 for my car payment.
My idea is why not swap the two payments. I want a used Lambo to avoid the depreciation costs. A used 04 Gallardo runs for around 90k. I would use the $1500 per month to the car on a 60 month lease and $400-600 for the mortgage payment.
Then once the car payments are done, that frees up $1500 per month and I could purchase another house and begin to lease out that house or the original one.
What do you guys think? Any help is appreciated.