Many iconic supercars have brought awe to generations, but there’s something about Lambos that just stands beyond their historical legacy in the automotive world. It’s something beyond its scissor doors, naturally aspirated engines, or iconic silhouette.
Valentino Balboni, who worked for Lamborghini for 40 years, once described driving the Countach as “a little bit dancing all the time” because it’s a handful.
A Lamborghini is a work of passion, art, engineering, and history all rolled up into one iconic and super-fast package. It’s a childhood dream for many enthusiasts. But unfortunately, in the last two years, Lamborghini prices, like most cars, have ballooned because of global inflation and a slowdown in car production resulting from the lockdown.
Many prospective owners wonder if they will be able to afford their dream Lambo or if it’s better to wait for the inflationary bubble to deflate in the next couple of years.
What Is Happening With Used Lamborghini Prices?
Global inflation and struggling supply chains worldwide have led to soaring prices and longer turnaround times to purchase a supercar such as a Lamborghini, making them more expensive than ever. The cost of a Lamborghini can start anywhere from $200,000 for a Lamborghini Huracán EVO to $500,000 for a Lamborghini Aventador Ultimae.
However, nowadays, Lamborghini dealerships are charging buyers five- and six-figure markups on top of the manufacturer’s suggested sticker price on many of their models just to speed up the delivery process. According to the BBC, Lamborghini had its most profitable year in 2020, despite a two-month shutdown of its Italian factory during the pandemic.
And the reason is that prospective owners of Lamborghinis are willing to overpay to get their hands on a brand new Lambo in a few months instead of the current waiting period, which could be a year or even more.
And this somewhat abnormal situation it’s not exclusive to Lamborghini. Many other exotics are selling out in days after being launched because of the low supply of cars and parts that has affected the supercar market in the last two years.
And although we’re talking about new Lamborghinis, the price spikes and plummeting inventories of new models inevitably affect used Lambo’s prices as well. As a result, many aspiring owners who thought they had the budget for a new model now have to look to the pre-owned market.
How Has Pricing for Used Lamborghini’s Changed Over Time?
Lamborghinis are one of the most sought-after supercars. The Italian brand manufactures some of the most desirable cars available today, from appearing on bedroom wall posters to the streets of many large cities worldwide.
Lamborghini has a great lineup of models that all hold their value very well compared to some of its competitors’ supercars. So when comparing new to used values, the used market is where experts recommend staying if you want to minimize the depreciation hit. In addition, buying pre-owned Lambos opens up a wide range of finance or outright purchasing options.
Furthermore, because the residual value (the depreciation figure at a specific point in the future) is close to the car’s worth, the balloon payment can be raised to make for extremely low monthly repayments.
Although the rise in prices of the last two years has allowed used supercars to hold their value more, depreciation is an inevitable process even in today’s market. For instance, if you purchase a pre-owned Lamborghini Aventador that is 2 years old, you could save $50,000 compared to buying a brand new one and still have a relatively new model with plenty of useful life. However, if you plan to keep this vehicle for three years, then your total cost of depreciation would be over $100,000.
By understanding depreciation, you can have a better perspective on how the cost of ownership of a Lamborghini change as inflation and market forces change market dynamics and how to properly consider and budget for ownership costs.
For instance, according to Car and Driver, the starting price for a brand new Lamborghini Aventador remained between $420,000 and $425,000 from 2019 through 2021. By 2022 the starting price was over $500,000
Via New Car Spin / YouTube
Is There an “Ideal Time” to Buy a Lambo?
If we had to choose if there is an ideal time to buy a used Lamborghini, this would definitely not be it. Even though many price indexes from different consultant companies show that the prices of new and used cars, including those of Lamborghini, have already begun their decline to pre-pandemic levels, the reality is that the inflationary bubble has not diminished enough.
Additionally, because the prices of new and used Lamborghinis have ballooned in the last two years, financing one has become more expensive to the point that the auto industry has had its most remarkable interest rate hike in the last 20 years.
Buying a Lamborghini today would hardly qualify as a wise financial decision. Even so, if your desire to buy the Lambo of your dreams is almost uncontrollable, if you have the budget and plan your purchase well, you can carry it out and make it a positive experience. But unfortunately, many buyers make such a decision very lightly.
In the information age, it’s amazing how quick people are to forget (or ignore) the tools at their disposal. For example, the car price app by CoPilot keeps tabs on changes in used car pricing by scanning dealer inventory and noting the changes. As a result, it helps give a more accurate view of the market.
Via Houston Crosta / YouTube
How Can You Make Sure That You’re Getting the Best Price?
Information is power, and negotiation power comes with the idea of having great information about the car you are buying. In this case, your dream Lambo.
According to Exotic Car Hacks, the best way to ensure you’re getting the best deal on your new used Lamborghini is by finding out how much the model you are buying actually costs for a dealer to buy.
As much as cars can vary based on options when new, in the used supercar market, the pricing isn’t that different for trading in. First, you must understand the dealer’s range in the particular Lambo model you want. Other steps include:
Timing is key: The best-negotiated cars are the ones that have been sitting for 90 or more days.
Making educated offers: Look at the market and determine your numbers.
Show willingness and ability to buy: Dealerships deal with genuine buyers, not people who think they may buy.
Always negotiate twice: negotiate two real deals with two competing dealers to get the best price.
However, with good planning and the right tools, you can get your hands on the Lambo of your dreams without going into debt for life or realizing too late that you made a bad purchase because you couldn’t determine the ideal time to buy.