The truth about how people can afford to buy Lamborghini's...
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The truth is, spending $200,000 on exotic cars like Lamborghini’s is a terrible investment. Why? It’s a depreciating asset! Instead, there are loads of other smarter investments you can make with your money, like a rental property - and earn a 10% return each year.
Depreciating car? Or a 10% return each year? Come on, I know which choice most people would make.
However, there is an exception: buying a Lamborghini on FINANCE. I have several friends who are successful in business - and this is exactly how they purchased theirs.
How did they do it? Well, they used this simple strategy...
1)Take $200,000 of their cash, then set aside $40,000 of it to be a 20% deposit on the car (or whatever the minimum deposit is)
2) Secure a low-interest 2% loan from the bank for the rest of the $160,000
3) Take the other $160,000 they have, and purchase a rental property with it, or invest into another asset.
And the proceeds of that asset help to pay off their car too. Sort of like having your cake and eating it.
You might think this is possible if you just get a good job and raise $40,000 in a few years, but there’s the twist: if you’ve got a job, banks won’t lend you the rest of the money. Banks only loan you as much as you make in a year, so to loan $160,000, you’re going to need to earn $160,000. And there are very few jobs that earn this much.
Quite frankly, this is a classic example of how the “rich get richer.” People who earn less have to waste more of their savings on their deposit, losing out on extra money earned by investing it into an appreciable asset. Whereas, those with more money get to invest LESS, and widen their income gap further by getting to invest more of their leftover money into other assets.
So yes, while you can save up to buy a Lamborghini with a job, most people wouldn’t spend their money that way.
Luckily, there’s another way...START YOUR OWN BUSINESS.
When it comes to owning supercars, the only people I know who own these are entrepreneurs and business owners. With jobs, there always an earning cap - since you exchange your time for money. And with only so many hours in a day you can work, once you’ve given all of them, that’s it - you’re sold out. However, with business, you make money through buying OTHER people’s time, then use those people to earn passive income.
One business we teach subscribers on our channel is Dropshipping. In case you don’t know, Dropshipping is when you open an online store, but you don’t need to purchase any items in-advance - as you only pay for the item AFTER the customer purchases.
Instead of buying stock in advance, you purchase each item individually from a manufacturer who is willing to ship it to your customer for you. Your job is to list the item at a mark-up price on your website, then when you’ve purchased it from the manufacturer, you keep the difference as profit.
At the start though, you’ll have to give up your free time to set up the store. And it may take a while to start making money since there’s also a learning curve. PLUS, you’re going have to start your business with your own money.
And so most people would look at this, and rather spend their evenings doing something like watching Netflix. So, they either give up, or never even try to start their own business.
But there’s people like Reynard, who doesn’t give up, spends his time and money, and doesn’t stop until he’s built a successful, profitable store. And its people like Reynard that will one day have the money to buy their own Lamborghini.
How? Let’s say Reynard spends 1-2 hours each day growing his store until it’s making $5,000 a month. He can then go and take $1,500 of that money and hire someone to run the store for him each month instead. Now he’s making $3,500 a month - PASSIVELY. Even as he sleeps, customers come in and purchase items from him.
But he doesn’t stop there. Now he’s outsourced the running of his store to an employee, he uses the time he’s gained to build ANOTHER store. Faster this time, as there’s no learning curve and he can just follow the formula he developed. And he builds THAT store up to $5,000 a month.
What do you think he does next? Yep, he repeats the process again…and again…and again.
Reynard has escaped the trap of spending his time to make money. Instead, he uses MONEY to make MONEY by finding OTHER people willing to exchange THEIR time to earn money.
The reality is, if you’d like a Lamborghini, then a job isn’t going to get you it. Instead, invest your free time wisely to grow and start a business that can turn into a passive income source. So, one day, you’ll be able to get your very own Lamborghini.