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Discussion Starter #21
It's going. :) Hate to do it, but sometimes, it is what it is..... Like I said, rather see it in an enthusiast's hands than the dealer. If it works for someone great. I will be able to move on without regret. But love to give someone a nice car at a good price rather than a dealer. I think it should be around till tues but will see. Have had a couple interested in private parties.

I will accept a 5000 deposit and hold the car for 7 days on deposit if someone needs to free the money up. But I have to move on the car I want so that will mean I have to move funds on my end so I will ask dont make the offer unless you can come through with deal.

Getting calls as we speak so will update what ends up happening! Not sold till it's gone
 

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So, at the risk of pointing out what you likely already know, most people aren't shopping for supercars right now. To put things in perspective - the US hit 14.7% unemployment in April. We just added another roughly 3M lost jobs this past week to that total, up to around 38M unemployed since COVID-19 began only a few months ago here. Most economists are expecting we'll hit 20%+ unemployment before it reverses course, and many are anticipating we'll still be in double digits by the end of the year even after a 2H "recovery." Consensus GDP estimates were around -21% for Q2 30 days ago; today they're around -34% for Q2... substantially worse. EITHER one of those estimates would make it the worst quarterly drop in GDP in history. Full 2020 GDP estimates were revised down to around -5.4% from -2.8% 30 days ago, which represents a revision of somewhere around 8 points in real GDP from January before this began.

Long story short, this is the worst economic environment since the great depression as far as unemployment goes - which topped out around 25% unemployment. 30 - 60 days ago many economists were expecting a "V" shaped recovery that would nearly erase the impacts of the whole recession within 12 months. Not so much anymore. Most are now expecting something more akin to a Nike swoosh or "U" shaped recovery with a longer trough. The problem with that longer trough is that many of the jobs we're hoping to come back will be permanently lost if many of the artificial supports (e.g. PPP, extended unemployment insurance, fed bond buying, stimulus checks, etc.) run out of ammo. And despite the poker faces, most leaders know they can't do this indefinitely without risking systemic financial system problems, including hyper-inflation.

So, back to your R8. Like most recessions, ultra luxury goods will plummet in value - boats, sports cars, art, wine, etc. It's typically the time to be a buyer but not a seller. Personally, I've been shopping for a car, and I've been holding the line on an offer I made on one - the seller still has it priced like 2019. But the truth of the matter is that most people with cash are being very discerning on how they spend it... especially considering the volatility of this market will continue to create great investment opportunities. I've personally struggled with this one - do I want more cash tied up in a car, or do I want that cash ready to invest as the opportunities present themselves? Consensus estimates on the S&P are for around 2,925 with EPS of ~$134/share, which implies a pretty stretched P/E - we're trading slightly above that right now in May. So, my bet would be plenty of volatility from here until year end... making a ready cash position very attractive.

But look, nobody has a crystal ball - at the risk of making predictions, I'll just say that I think it's a poor time to sell an R8. It's a LOT of car for $53k, so it feels under-valued to me. What can you buy for $53k that would come close? But what someone is willing to pay is what something is worth, as the old saying goes. So, assuming you've advertised far and wide, and that's the best offer you can get, then that's what it's worth... today. How badly do you want to swap out to the Gallardo? Does $5k or $10k matter to you? If you could get an equally "killer deal" from a Gallardo seller, maybe it's not really a loss then. But if you're selling at a low and buying at a premium, not so good.

I'm generally optimistic that we'll come out of this alright - but it's going to be one wild ride. The whole thing is unprecedented. I've shared with colleagues that it reminds me a lot of Apollo 13 - shut off the guidance computer, fling the ship around the moon, and hope you can boot it all back up again and make it home safely. We're doing something similar with the economy - there's absolutely no precedent that our actions will work, but fingers crossed. Position appropriately.
 

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I joined this forum when I placed an order for my ‘15 R8 in December 2014.
We are all fortunate to have EZ as a forum member. We all benefit from his broad knowledge base, logical thought process and obvious writing skills.
Thanks EZ
 

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Yea...I know. But I am not getting emotional about it.. At the end of the day, something is only worth what people are willing to pay. With 5 cars currently, I am not going to get another without getting rid of the R8. (other are family and my kids cars). So only one spot open for a toy.

Sitting on it for a year in hoping of getting 8-10 more maybe? In the meantime, it is a year older. I think there are a lot of unknowns in life. What I do know is sometimes you just have to go with your gut. By all means I would like to get more,and really I would rather the car go to an enthusiast than a dealer, but it is what it is.

Money has not been wired yet, so car is available. ;)

congrats on the sale bud. make sure you don't get a beater lambo...take your time and acquire the perfect specimen.
 

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Discussion Starter #25
congrats on the sale bud. make sure you don't get a beater lambo...take your time and acquire the perfect specimen.

My specs in searching for a lambo were 07-08 spyder >20k mile. 15 preferably. Clean car fax. Back-up cam must. Was a 95-100k car pre corona. Seeing "asking" prices now drop in the 90's and selling in mid to high 80's.

Really pulling for the guy coming tomorrow. Younger guy and self emp and doing well for himself. This would be a cool car for him and he is not far from me so we could meet up at cars and coffee when things get back to normal. But I have had a bunch of people reading out.

But as anyone that has ever sold something knows.....everyone is a buyer and very few follow through. Even at very good pricing, it is a lot of money to peel off right now.
 

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Discussion Starter #27
I have seen Huracans for 150. I can buy from Manheim auction also. One of my very good friends is a dealer, and I have auction access through him.

While I can afford a huracan, or even adventador, I dont want to spend that much on a toy right now.

But I just want something that for me is 'justifiable'. I know for many that is a sliding scale. For me, the Gallardo fits in that perfectly. The sound of the pre lp 5.0 V10 is crazy. The split pin crank sounds totally different. I think the old motor just has something special about it. Sure the newer ones are faster, but it is not about speed for me. No one buys a convertible, if speed is the number one goal.

I have and do love the r8 and every time I look it, I think what an awesome car it is. But I am actually looking for something a little less practical. The r8 has such an awesome balance and refinement, it can almost be a daily driver you can justify. It is just beautiful.
 

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The reliability of a newer huracan over an older gallardo though is of concern.

My R8 is 9 years old and has had about $35k spent from the extended warranty. So even if I sold it 5 years ago for about $100k the next owner would have probably ate over 35k in repairs.
 

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Discussion Starter #31
So guy that came today wants the car. He works for Wells Fargo, mid 30's is coming out of a GTR. He LOVED the car and wants it. Of course....there are always issues with cash. He tied up most of his cash when the market dipped. He works in wealth management. So he wants to try to finance it. He said he would have an answer for me by noon tues. I am not sure if many banks finance a car over 10 yo. Possible with the low miles and or value maybe they will?

I told him I cant hold the car longer but if he is sure he can sort the money out, I will hold it for 7 or even 10 days with a 5k deposit. Most accounts, you can get funds in 3 days so that should give plenty of time if a person really wants it.

Will see. Would love to see him get it. He is local and goes to all the cars and coffee etc. Would be cool to get to see the car and happy owner in the future!
 

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They will finance him if he has the credit for it. Sounds like he might be Close to his top , if he isn’t sure about what the banks might say . GLWS !
 

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Discussion Starter #33
He works for the bank so I am guessing he would know. My buddy that is a dealer said most of the 'big' banks wont mess with car financing on 10+ year cars.
Will see. I would like for him to get it. He wanted me to throw the spare mag rides in. I kinda laughed. While I do want to see it go to an individual, I am not going to pay money to do that ;)

I know he wanted the mag rides (which I got to let him feel how nice they work when we drove). I told him I will hold on to them for 3 months after the sale to give him time to replenish funds and then after I will sell them.

I was going to let him have them cheap. I have 2- fronts that were removed w/1400 miles and two rear that came off a car with 25k. Mine are not leaking, but if one plans on owning this car a while it is pretty much inevitable. I am going to sell them to him for what a set of BC's would end up costing him...so hard to beat. If he does not want them, I'll just list here or put on ebay.
 

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Big banks ,not to sure. I not a huge fan of BIG BANKS . I finance all my cars with my local credit union or woodside .
 

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I saw your car on one of either autotrader or one of the other sites and it's actually been on my list of top ones to consider but just distance from me and also the fact that I JUST started searching for an r8 make it hard for me to justify pulling the trigger, good luck with the sale!
 

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Discussion Starter #36
I saw your car on one of either autotrader or one of the other sites and it's actually been on my list of top ones to consider but just distance from me and also the fact that I JUST started searching for an r8 make it hard for me to justify pulling the trigger, good luck with the sale!

Not sure where you are located. My buddy can transport a car anywhere pretty cheap. I am trying as hard as I can to get this to an enthusiast vs letting it go to the dealer and he will markup 8-10k

FWIW, if you search nation wide, the car is about 10k underpriced. The guy who wants it badly has to finance. He came over yesterday, and I even pulled the panels off to show him strut towers ;).

Anyway....If you think you might be interested, I can reach out if his financing does not work tomorrow morning. I am willing to go through a little effort to see it go to a person, but I cant go crazy and it cant cost me money. I will hold the car for a deposit, but like I said, dont make a deposit unless you want to buy the car.

The guy that came yesterday is a true enthusiast. He was a GTR guy but just moved out of that. He has seen my car at Cars and Coffee. I am selling totally transparently and I will probably pick the car apart more than anyone. (I am just like that).

Let me know if you want me to reach out if he cant come through. My advice is this.....if you think know you are going to buy a r8 and you like the spec of the car, I would say I would not anticipate you are going to find one this nice at 55k....but who knows. The dealer is giving me 53 so that should tell you something.

No worries either way and good luck in any R8. They are totally awesome cars. I just want something LESS practical ;)
 

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If you’re interested in an R8 and you have the means to buy , and you let this slip . Your mistake ,and one of this caliber doesn’t come around often with this price . I don’t know the guy selling car other then a few text when I was trying to get my son to buy the car . Only reason son didn’t pull trigger is it’s the same color as mine . Which doesn’t make sense to me but what do you do . Just my 2 Cents
 

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Discussion Starter #38
So....................... car goes to dealer. Sucks. I tried to hold off as long as I could and decent amount of people interested in it. The most promising was a really cool local guy. He was able to secure financing, but not at a rate favorable to him. He is just closing on an investment prop and he said if it were a month later, he would have bought it cash...but timing not right.

I really would have liked to see it go into a private hands...but it did not work out. Funny....have to say dealing with some of the people. Lots of skeptical people out there. Thinking I am trying to scam...etc. Car is a legit super clean car and I am pretty much guessing it will be for sale for 64-ish when the dealer gets it.

Dealer was telling me he was buying for his dad otherwise he would have not given me what he offered for car....but I am not sure I believe it. ;) I will see.
 

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Well that does stink . Hated to see it go to dealer . I would make him sign off saying he wouldn’t make a profit on car for 1 year before I’d sell it to him lmao . GLW next car !
 

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Not sure where you are located. My buddy can transport a car anywhere pretty cheap. I am trying as hard as I can to get this to an enthusiast vs letting it go to the dealer and he will markup 8-10k

FWIW, if you search nation wide, the car is about 10k underpriced. The guy who wants it badly has to finance. He came over yesterday, and I even pulled the panels off to show him strut towers ;).

Anyway....If you think you might be interested, I can reach out if his financing does not work tomorrow morning. I am willing to go through a little effort to see it go to a person, but I cant go crazy and it cant cost me money. I will hold the car for a deposit, but like I said, dont make a deposit unless you want to buy the car.

The guy that came yesterday is a true enthusiast. He was a GTR guy but just moved out of that. He has seen my car at Cars and Coffee. I am selling totally transparently and I will probably pick the car apart more than anyone. (I am just like that).

Let me know if you want me to reach out if he cant come through. My advice is this.....if you think know you are going to buy a r8 and you like the spec of the car, I would say I would not anticipate you are going to find one this nice at 55k....but who knows. The dealer is giving me 53 so that should tell you something.

No worries either way and good luck in any R8. They are totally awesome cars. I just want something LESS practical ;)
Not sure where you are located. My buddy can transport a car anywhere pretty cheap. I am trying as hard as I can to get this to an enthusiast vs letting it go to the dealer and he will markup 8-10k

FWIW, if you search nation wide, the car is about 10k underpriced. The guy who wants it badly has to finance. He came over yesterday, and I even pulled the panels off to show him strut towers ;).

Anyway....If you think you might be interested, I can reach out if his financing does not work tomorrow morning. I am willing to go through a little effort to see it go to a person, but I cant go crazy and it cant cost me money. I will hold the car for a deposit, but like I said, dont make a deposit unless you want to buy the car.

The guy that came yesterday is a true enthusiast. He was a GTR guy but just moved out of that. He has seen my car at Cars and Coffee. I am selling totally transparently and I will probably pick the car apart more than anyone. (I am just like that).

Let me know if you want me to reach out if he cant come through. My advice is this.....if you think know you are going to buy a r8 and you like the spec of the car, I would say I would not anticipate you are going to find one this nice at 55k....but who knows. The dealer is giving me 53 so that should tell you something.

No worries either way and good luck in any R8. They are totally awesome cars. I just want something LESS practical ;)
if this was a few months down the line I really might have been your buyer, unfortunately, since my search just began I want to do my due diligence and do my research. Best of luck on your sale!
 
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