DON'T BUY A LAMBO #shorts

10 Apr 2021

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Before buying a Lamborghini, your income needs to be at least double the car's price, you should be able to pay cash for it, and you should own a rental or investment property first. Get your finances straight before the toys.

Questions this video answers

Your income needs to be at least double the full price of the car.

You need to be able to buy the vehicle in cash (you should have the money available even if you choose a loan or lease).

You must own a rental (investment) property.

Do not buy a car like this until you've done three things. Number one, your income needs to be at least double the full price of the car. Number two, you need to be able to buy the vehicle in cash. Not saying you have to do it. You can get a loan or lease, but you have to have the money to do it if you needed to. Number three, you have to own a rental property. If you're buying a car like this and you don't own any investment properties, you got a problem. So there's nothing wrong with spending money on some dumb stuff, but just make sure you got your money right first.