Lamborghini
Did any of you ever seen a Lamborghini driven by an IB/HF/PE analyst or associate?
If you had the money, will you buy it?
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great investment
hell yea id buy one
How is someone that makes ~300k PRETAX a year going to afford a car that at the very LEAST costs $250k?
The only people that can afford super-luxury performance cars are those that (1) inherited wealth (including royalty), (2) successful entrepreneurs (including Hedge-Fund/PE partners), (3) super-star traders, (4) lottery winners.
But yes, if I can sufficiently provide for my family, I would take all surplus disposable income and put it into (a) travel fund (e.g. Queen Mary II England-US cruise) and (b) cars.
Very bad generalization. I personally know several surgeons who own multiple ferraris and other exotic cars. Being wealthy enough to purchase these cars varies dramatically, some may only have a few million in liquidity and spend half of it on luxury items (i.e. lambo's), while others may only spend that amount on luxury items if it represents a much smaller percentage of their earnings or worth. Purchasing one of those cars doesn't require one of those four categories, especially if the person spends most of their available cash on the car (i.e. see the douchebags on the hills).
thats your problem - family. if your buying a lambo theres only enough room for you and the flavor of the week.
to the OP, its completely possible, dont listen to the doubters. but on a more realistic level, the SLR is a ton more useable especially in congested citys. but you need DEEP pockets for an SLR, oil change is 5k, spark plug change is 10k
you are forgetting the most likely and able group that would get this type of car. ATHLETES!!!
dude
you'll totally be able to afford a baller Lambo after that 125K sign-on and 300k in other guaranteed comp clears the bank!
//www.wallstreetoasis.com/forums/wtf-125k-sign-on
Most people I know (friend's parents) with $200,000+ cars financed it and plan on selling it on Autotrader after a few years so it is definitely possible for someone making 300k a year to drive a 250k car.
In fact, you can buy a Aston Martin these days on Autotrader for about $80,000 with low miles..
My friend's dad who is a prominent plastic surgeon in Beverly Hills owns an Aston, Lambo, and Ferrari, but he bought them all used with less than 10,000 miles on the odometer.
Super cars are pretty over-rated in my opinion because of how impractical it is. It is fucking uncomfortable and If you have ever driven a Lambo, you would know the turning radius is absolutely fucking ridiculous and that you need to map out exactly where you are going because making a U-turn on a normal street is nearly impossible.
Saw a Maserati for sale by a high-level associate once. Asking price was $65K.
Remember: $125K today= $1.25 million in 40 years at 6.5% net-of-inflation= 3-4 years of a very upper-middle class early retirement.
Want a fun car? Save yourself $100K and go with a Mustang GT Convertible. If you're feeling really middle-class, go with a 2-3 year used Mustang GT that still has a warranty and save yourself another $10K by bringing the price down to $20K.
Alternatively, a Ducati 999 goes for about $15K in good shape. Would recommend getting some experience on motorcycles before going with a superbike, though, as the thing has a power/weight ratio of an F16 and a mistake on two wheels with 150 hp applied to 550 lbs of metal and human being isn't gonna be all that pretty.
Never liked the Mustang... reminds me of white trash.
The Mustang- along with its brother at the time, the Mercury Cougar- was featured prominently in several James Bond movies- particularly the '60s style that looks pretty close to the current model. Any American car that's more than five years old, looks patched together, and has music blaring out the back is going to be "White Trash", but if you take good care of your car, it's no different than a 10 year old Mercedes. The only difference is that the Mustang GT can beat most Mercedes to 60 mph.
If you want to call a GTO, Charger, Camaro, or Firebird white trash, be my guest. But Mustang has been Ford-Lincoln-Mercury's premier sports car for the past 40 years. Some people who drive 10-year-old Mustangs with cellophane for windows are white trash- just like anyone else who drives a car that's not well-taken-care-of; you also find a lot of nice looking Mustangs in upper-middle-class communities, too.
gently used BMWs are where it's at. get a nice one for under 30k.
people who buy new cars are idiots.especially people in finance, who should know better.
Market for Lemons
Never have time to drive em...
I had a 748s ducati and loved it... lifted at 6k and rode for 2 years... had a blast
not anymore but would love to buy a bike soon. I am in Houston
The Dodge Challenger is a cool looking car. I'm sick of American cars getting a bad rap in favor of greaseball Eurotrash douchemobiles.
That said, the Charger has a bit of a redneck feel to it. Being a midwesterner, I'd have a lot of fun driving it, but I can't see your typical white-shoe northeasterner driving it. I can see most people but the old-money-filthy-DuPont-kinda-rich driving a Mustang. (In which case, I envision a 1980s Volvo station wagon or a 1950s Rolls-Royce that's been more persnickitously maintained than Joan River's face.)
Back to the original question. I checked Auto Trader and you can get a 2006 Gallardo with 15K miles on it for $125K. If you're an Associate making 300K, I think it's within reason. (Would be the eqivalent of someone making $60K buying a $25K car).
However, I'm the person that likes variety so with that $125,000 I'd buy....
For cruising - 2007 Porshe Cayman w/ 25K miles for $35,000 For the club - 2007 Mercedes S550 w/40K miles for $42,500 For every day - 2006 Jaguar S-Type w/30K miles for $22,500 For hauling - 2005 Cadillac Escalade w/50K miles for $25,000
Having my own fleet of luxury whips beats a Lambo, IMO.
-
I'm saving up for a range rover sport, suckas
who said you have to buy a new lambo? you can snag an 04 gallardo with like 15k mi for $80s now
I would drop my dollars on an Audi R8 with the V-10 before I spent the extra coin on a Lambo.
Regards
That's a stupid thing to do considering the R8's V10 is a tuned down version of the Gallardo's.
Thanks for your insight, but your rationale is just not making any sense to me. Also, rest assured we all know that its a tuned down version of the Gallardo, as this is common knowledge among most car enthusiasts. I, however, don't feel 35 additional hp is worth another 65k (and possibly more), not to mention I actually like the R8 better. Hence not wanting to drop the extra money (which is somewhat substantial, in theory of course) on something that I find marginally better at best. I think the Gallardo is an awesome car and wouldn't turn it down if someone handed me the keys, but if I was emptying a suitcase full of my money...it would be at an Audi dealership.
Regards
I'd buy an R8 too. It's less than half the price, it's fast enough, and has better steering than Lambos.
Don't talk about shit you don't know. Better "steering"? wtf are you talking about, that's just plain wrong. And if you want to be taken seriously next time, replace "steering" with handling. Audi simply tuned down and cheapened the Gallardo chassis and engine and put an audi shell on it, resulting in the R8.
Shit, brainfart. I meant handling. I've driven in an R8 and 2 Lambos-the Reventon and the Gallardo Superleggera. Obviously the R8 isn't as great of a car as the Lambo is. But it's less than half the price and is easily more than half as fun as the Lambo.
Nothing is classier than buying a used supercar.
My 1992 Buick LeSabre finally bit the dust.
I have a feeling I'll be upgrading to a 1997 Jeep Grand Cherokee.
Nissan gt-r bitches. New at 90k and can beat gallardos and r8s in races stock.
Lambo is a statement, Nissan GT-R is just a racing car. There is a big difference.
Personally, I would just buy a fleet of luxury autos:
2008 Aston Martin V8 Vantage 10,000 miles - $64,000 2007 Mercedes Benz S550 50,000 miles - $38000 2003 Range Rover 50,000 miles - $19000
i agree with you and the other guy that suggested a fleet. But aren't those prices a bit low?
Nope, I checked Ebay motors and found cars I would buy and then listed the prices here.
WOW good choice. I would so do this if I had a house with parking!
Get a Nissan GT-R and save yourself $170k! I'm a big R8 fan as well; Audi makes a great car. Nonetheless, if you're stretching your budget to afford your car, you're doing it wrong. If you can buy it with a check at the dealership, have fun.
Yeah, the GT-R is an awesome car too, but in my opinion its just not in the same category as the Audi and Lambo. If I was looking to save some money, I would spend the money on a Cadillac CTS-V and the rest at the Bunny Ranch or something, lol.
Regards
Hmm,
If you're a 2nd/3rd year analysts + you have the cash to buy/lease an slightly used Gallardo. And don't forget how much it will cost a 23 year old to insure a Lambhorghini. It would be absurd.
As other people on here mentioned, you'd look like a complete fucking douche bag and a moron to boot.
You're obviously trying to signal something to people. And the people that know you would realize what a pathetically insecure douche you really are.
How does driving a lambo make you a douchebag? Ever thought some people genuinely like the cars? I know several guys who have Ferraris who are just enthusiasts.
He was talking about a 2nd/3rd year analyst, specifically. Spending that much of your income on a Lambo, at that age, is pretty pathetic. As a car enthusiast (and restorer, when I had time), there are better ways to service your hobby.
It wouldn't necessarily be "douchey" if your were a bit older. I still might look at you funny, though, and you'll have to live with that.
But if you're income is 400k-500k/year...
The question was if you're a Analyst/Associate... yes, its douchy... akin to lighting cigars with hundred bills or pouring out Cristal on the floor at a night club (both of which you're fiscally capable of doing as an analyst/associate). You're only doing it for one reason.
Its fucking retarded. And it makes no sense. At 25 years old, you likely don't have a house, may or may not be married, etc... So fuckin what if you're a car enthusiast? What if I'm a wine enthusiast? Should I buy $300,000 worth of wine and stack it in a Jack Rabbit storage unit while Im renting a $1,200 studio in China Town? Sure its my money and I can spend it on what I think is important to me, but it still makes me a fuckin idiot. Just because you enjoy something and you have enough dollars to buy it (doesn't equate to affording it), doesn't mean it makes any god damn sense to act on it when you're clearly not at a point in your life where you're secure (financially) enough to spend money like that. In the end, its your money and you can do whatever you want with it... but if, as a 1st year associate, you buy a $300,000 canary yellow pinky ring because you like diamonds, I'm going to call you a fucking douche.
There's a difference between affording it and fiscally able to buy it.
Just because someone has different priorities to you doesn't mean they're morons. Under your logic, I shouldn't even buy a Toyota Camry because obviously, I don't have a house, and If I do, I'm still paying off that mortgage. Hell I'm probably not even married. I should definitely focus on all that lame shit. If you have the cash, and you want something, you can do it. At the end of the day, they'll be grinning ear to ear and won't really give a shit if some guy on the street thinks they look like a dbag.
And let's face it. If I can afford the lease on the lambo right now, what else do you suggest I do with that money? Save it? Invest it? So I can do what? Buy the same lambo in 30 years?
Are you seriously comparing a Lambo to a Camry? Considering a Camry costs about what like $20K and a Lambo costs over $200K? AND still its not comparable because a Camry will give you 150K+ miles vs and Lambo which will give you 15K.... its more like $20K vs $2M for a car. Thats not even factoring in insurance and maintenance.
Second, can you buy a house with the cost of a Camry? Are you really that fucking stupid to even propose the 'are you saying I shouldn't even buy a Camry' argument?
Third, yeah, I do suggest you save/invest it so you can buy a lambo in 10, 15 years. Because in 10 or 15 years you can fucking afford it. If you lose your job, you can STILL afford it. And if you need to drive 200 miles, you wont be finding someone to give you a ride or renting a car.... you'll actually have a respectable every day car.
The bottom line is its a really fucking expensive car. And owning one implies something about the level of success you've attained. You can tell me whatever the fuck you want about being a car enthusiast, but if you were a real one, you'd know what you could buy that would be much more affordable and could offer you much more bang for your buck.
Any analyst/associate who's buying a Lamborghini is buying it in order to signal to people that he/she HAS in fact reached that level of success. But they clearly havent. Because a Lamborghini isn't a very practical car. Its the equivalent of buying a $1,000 bottle of champagne in a club. Because it costs a shit load and it barely. Just about everyone CAN afford to shell out $1,000 for a bottle of champagne in a club, but they wouldn't unless they're living a certain type of lifestyle. You're trying to exude that lifestyle without having ever actually attained it. More likely than not, you're living in a fucking $1,500 a month apartment, leasing a Lambo and have to watch your spending.
You like the Lambo because the moment in time when someone sees you in the Lambo, they have no idea that the other pieces of your life are far below what you're sitting in right now.... they figure if he's driving a Lambo he must have 3 other cars (cuz only a moron would buy one as a primary vehicle), and he must live in a $4 million house/apt (cuz only a moron would buy a lambo before living in a dope house/apt), and he must have $40M in the bank (cuz only a moron would buy a lambo without having even the cost of the lambo remaining in his bank account). And you are playing off of them giving you the benefit of the doubt... you're mentality is, they'll either think I'm a complete fucking moron or they'll think I'm immensely successful. And NO ONE would believe anyone would be THAT dumb -- as dumb as I am -- so they'll obviously think I'm very successful.
Share a quick story... I have a friend who's family owns a butcher shop in Brooklyn. There's this black dude who comes in regularly from time to time wearing gucci/prada/louis from head to toe... is edged up every day... smells like a million bucks... not a wrinkle in his clothes, scuff on his shoes or hair out of place. But every time he haggles on how much he's gonna pay for a pound of cracked pepper mill turkey and asks for a taste of that cheese before he buys 2 slices of it. Finally, my friend -- obviously fucking annoyed and curious -- asks him "My man, every day I see you walk in here int he fliest gear, looking like a million bucks, then you buy half a chicken wing, two slices of ham, a slice of turkey and a slice of provolone. What the fuck gives?" So the well dressed apparent millionaire looks around, and leans in to reply "My man... they sees what you wear, they don't sees what you eat."
Marcus, I must say I typically agree with you but what you said really threw me for a loop.
Everyone knows you have to tip one out for your homies...its the least you can do.
Regards
Hey, I agree with your right to do it. Doesn't mean I'm not going to judge you for it.
Anyone who spends more than $50K on a car before the age of 30- short of having earned eight figures- is an idiot. So you've got a new Maserati. You could have bought a '66 Corvette Stingray which would have turned more heads for $200K less. Meanwhile, the poor kid who got the classic Corvette is now going to retire with an extra $2 million net-of-inflation.
For the matter, anyone who lives in Manhattan and feels the need to buy a nice car before his 25th birthday and park it in the city is also an idiot. The other boroughs, I understand, but Manhattan? Give me a break. $4K/year for parking, $5K/year for insurance, and you're working 80 hours a week so you don't get to drive it in the first place. Why not take a bag full of 900 $10 bills and just burn it instead?
If these douche bags thought it would give them some self-esteem and confidence, they would.
To the guy who said he was gonna buy a 97 Jeep, I just got rid of my '98 Grand Cherokee and I'd say DONT BUY ONE. Half of them that hit about 110k miles have insane issues with suspension and electrical. I'd shell out a few hundred, maybe even a couple thousand more on one that is 5 years newer.
I agree Mas, my first vehicle was a 95 grand cherokee. Same thing happened to me.
Some of the things said on this thread are ridic. Pick up a car mag especially the guy that claims the R8 has better steering than a Gallardo. HA!
Nissan GT-R for the win. Maybe not the best performance overall, but by far the best performance for the dollar spent.
GTR has serious tranny issues but nonetheless, the car is a beast. I would rather put down for the e92 M3, but that's just me :)
They give you a shemale with your car? Not sure if that's the kind of deal I'm looking for, but whatever floats your boat...
You obviously didn't earn it if you have it working at IB/PE. I could see a HF Analyst driving one, but I hope your at least 25. When my buddy takes his dads 599 out with me, everyone thinks/knows hes a punk bitch. Don't buy exotic till your 25-30. That's my 2 cents.
@Illini: It's funny you mention kitesurfing, one of my friend recently left the Street to go teach kitesurfing :-p
They're both a lot of fun- and both a lot easier to learn if you're in your 20s and don't have a $2K/month car payment. Props to your friend for doing what he loves- just feel bad that adventure sports instructors everywhere- even the really good ones- are making peanuts right now.
His dad's a chief officer of a BB fund, so he's doing okay without the WS paycheck, the lucky bastard
Believe it or not, at my bank it was surprisingly common for junior people to drive Lamborghini's and Ferrari's. Reason this was possible was because we had a very aggressive incentivization/comp structure.
I remember one of the guys was a huge sports bettor and his bookie would FedEx him bundles of hundred dollar bills after a successful Sunday. He was a real douche though, I started dating his ex (who was one of the assistants) and he became a huge dick to me.
I on the other hand tried to keep a lower profile and fly under the radar. I moonlit as a black jack dealer in an illegal card room I would run out of my apartment, so I didn't need to draw any extra attention to myself... and it didn't help that my dad was a federal judge.
Crazy times.
Either you're sling crack rock or you got a wicked jump shot.
You should make a movie about your story
That's exactly what I thought.
Lambo is a statement, Nissan GT-R is just a racing car.
Who the fuck would want to own a Lambo in Manhattan? Subway system FTW.
Honestly though, a Lambo in Manhattan is fucking stupid. Parking is fucking ridiculously expensive, the insurance for your Lambo will be fucking expensive, you will need 93+ octane fuel which is fucking expensive especially since a Lambo goes through fuel like water (what's it like 8MPG?), you'll be working 80+ hours so you won't even have time to enjoy it, and lastly, with the crazy motherfucking drivers in NYC, someone will fucking hit your car whether while you're drive or when it's parked; I don't know about you, but if I had a Lambo and someone hit it, I would shank a motherfucker.
Overall, save your 200K+, the fuel expense, insurance expense, parking expense.
Honestly, the Subway system is the best!
My good friend's MD at a top BB (GS, MS) and at a top group in the BB (TMT at GS or M&A at MS) fucking takes the subway system. Owning a car in NYC is stupid.
What are you gonna do with a Lambo? You can't drive it anywhere near its limits off a track and it's uncomfortable. I'd rather get a G-Wagon and spend the rest on travel.
A couple points. For the cost of a brand new G63 (and this is presuming you aren't committed to the very finest things in life and thus not importing the G65), you could get a 2-year old Gallardo.
Also, it's not an uncomfortable vehicle. Further, your logic about pushing a vehicle to its limits condemns your comment about purchasing a G-Wagon. Do you think you're really going to be stressing that body-on-frame construction and fixed suspension while trucking through the streets of your major city? Speaking of comfort ... that very suspension gives you much rougher ride quality than you'd expect.
In short, you aren't likely to have much "left over" as a different between the two vehicles purchase price, you won't be more comfortable (arguably), and you certainly won't be driving either vehicle anywhere near its limits under normal conditions.
Psh, why buy a kiddie supercar when you buy a helicopter.
http://www.robinsonheli.com/home.html
Because a Robinson is about the same price as a Lamborghini.
Also the difference between Mach .925 and .87 isn't that great when you factor in trips under 3000 miles.
You can buy a Russian MIG. I know a guy who has one. You can buy an f-16 if you can find a government willing to sell one, however the plane has to be stripped of all military communications equipment and weapons capability.
That kinds defeats the purpose, huh? Just get a bunch of land in the middle of no where and drop bombs and shit.
Edit: You already have a bunch of land.
From back in 2000:
larry Ellison flies an SIAI-Marchetti S.211 fighter plane in which he is known to have conducted mock dog-fights over the Pacific, with his son David. He recently tried to import a decommissioned Russian MiG-29, but the US government said no way. "It's considered a firearm," said Ellison, incredulously, "even though that's not my intention. It is disarmed, but theoretically you could rearm it and take out a couple of cities."
Wow this thread is a train wreck from beginning to end. Such lack of knowledge about cars in general.
Some people actually like to drive. I know that's an alien concept to you guys who take the subway/take a cab every day, but some of us actually derive pleasure from operating a fast, powerful vehicle. That doesn't make us "morons" or "idiots"...and frankly I'm one of those guys that if I was making decent money wouldn't mind living in a smaller apartment and driving a nice car. Its a strange concept I know...but I like what I like. And so does everyone else. Some people actually drive exotics because of the way they feel/sound/how fast they go. They could give a shit about what anyone else thinks of them. If you're buying your car for appearances only, you've got bigger issues to work out.
Lamborghinis of Wall Street (Originally Posted: 01/22/2014)
I was wondering how common are Lambos there? Have you seen any? And what "supercars" are most common at WS? Thanks!
dude have you ever been to NYC? nobody drives hypercars unless they love cracking wheels on potholes and not making it over the sloped garage entrances
This is by far the most popular on Wall Street:
delorean haha... pre-crisis here we come!
yeah right. pun intended. +1 SB for you.
Most 'common' high end cars you see in London are Audi R8 > Maserati > Lamborghini > Ferrari
Range Rovers...that's all I see.
(sigh)
Ok,what about Aston Martin?
It really makes sense for a car that goes 200 mph to be used to travel between upper and lower Manhattan.
Anyone I know with the means either uses a car service or has an S-Class. The most common "exotic" spotted in Manhattan is usually non turbo 911's in need of a car wash quite badly.
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