Owning a Lamborghini can be an extraordinary experience indeed. After all, few carmakers capture the supercar ethos quite like the Raging Bull brand. Lamborghini cars or ‘Lambos’ project a commanding presence with their distinctive profiles and sharp angular outlines. Then there is the matter of the engines, raucous units that give the cars a unique signature. It does not matter whether it’s the turbocharged V8 or raw, naturally aspirated V10 and flagship V12 cylinders.
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Lamborghinis are not cheap, regardless of what option you select. The entry-level Huracan can cost as much as $200,000, and the prices only trend upwards from that point, depending on trim and options. A Lamborghini Aventador SVJ Roadster on the second-hand market can cost a staggering $900,000!
Buying one of these beauties is certainly not a decision you want to take lightly, and we are not just talking about signing the purchase documents. That is just the first step in the ownership journey, and there are other costs covering areas such as insurance, maintenance and repairs that the buyer needs to keep in mind.
The Starting Point
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We have already established the fact that Lamborghinis are expensive toys. A prospective buyer may be able to afford an outright purchase, but there are instances where other payment options are considered. If any form of financing is involved, interest payments have to be factored into the cost of ownership.
In this case, many factors determine interest payable – the price of the supercar, financing tenor, and the buyer’s credit history. Whatever the amount, it’s worth having a clear plan for the interest payments as we are not talking about a regular sedan or family hauler here.
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Insurance coverage is also something that has to be dealt with early in the ownership journey. In fact, you would not want to drive your Lamborghini off the dealer lot without an adequate insurance policy already in place. A comprehensive insurance cover is a no-brainer when you are purchasing a Lamborghini. Even then, there are still many other aspects of the policy that need to be determined. Examples include collision coverage, vandalism, allowable deductibles and medical costs in case of an accident.
Regardless of whether you are buying a Lamborghini or not, selecting the right insurance package can be pretty daunting. Thankfully, many reliable resources can point you in the right direction. For instance, Lemonade has an excellent guide on the subject that should help answer a lot of those questions.
Racing Your Lamborghini
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Lamborghinis are natural ‘attention grabbers’ and look super cool rolling down the street with their distinctive shape and loud engines. However, the chances are that you did not buy the car just to look cool, posing and taking pictures with it. There are days when you will want to hit the racetracks for some adrenaline-pumping action (and that without attracting unwanted police attention).
The race tracks provide the proper environment where you can really stretch the limits of your Lamborghini as you fly down straights or slalom around corners at speed. Even Urus owners have been known to track their SUVs, and why not? The Lamborghini Urus is one of the fastest production SUVs. It can sprint from 0 to 60 mph in 3.6 seconds and max out at a 190 mph top speed.
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However, you can’t just sign up for a track event and turn up ready to race – at least you shouldn’t, not without track day insurance. It is different from the regular insurance coverage and offers protection from physical damage while your car is in the paddock or on the race track. It is not uncommon for a track day insurance to cost north of $1,000.
Still, again the actual amounts depend on factors such as vehicle value, the deductible option selected, the track where the event is conducted, and even the organizer of the event is not left out in determining the total amount payable.
Track day insurance packages typically do not cover consumables like brake pads, fluids and tires. These items tend to be used up pretty quickly when the car is being driven hard. It is not uncommon to replace your tires after a track event. A set of race-oriented P Zero Trofeo R tires for a Huracan costs about $1,800.
‘D’ is for Depreciation
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Depreciation is arguably one of the highest single costs of car ownership. No automobile is immune to depreciation, but its effect is typically more glaring with ‘mainstream’ supercars. According to Caredge, a leading automotive research website, a Lamborghini Aventador will lose as much as 31% of its value over five years, assuming a 12,000-mile average mileage per year. It’s even steeper with the Huracan, expected to shed up to 46% of its initial sales price over the same period. Depreciation is something to keep in mind, especially if you plan to sell off your Lamborghini eventually.
The Lamborghini Experience
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Ultimately, owning a Lamborghini is a journey where ownership costs can significantly determine the eventual verdict. The costs earlier identified do not even include routine expenses like gas fill-ups, oil changes and annual service.
To be fair, though, most Lamborghini owners are wealthy enough that they can usually get by without agonizing over the next insurance payment, routine mechanical check-ups or how much it would cost just to head out for a fun weekend at the race tracks. In any case, these expenses can still be managed efficiently with a proper plan in place, ensuring that the supercar owner gets the best experience out of the car.
