The Major Problem With Buying My 2nd Supercar (Audi R8 V10 Plus) Here's How Much I Had To Pay..
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- เผยแพร่เมื่อ 13 เม.ย. 2021
- The weirdest issue I had with buying my SECOND supercar which was also cheaper.. We go over all the money details in buying by Audi R8 V10 Plus
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My car nut 6 year old asked me to buy a Lambo. I told him I would have to sell the house and we would have to live in the Lambo. He didn't see a problem with that at all.
What do you mean? A family of presumably 3 can live comfortably with all their appliances and furniture in a Lamborghini!
@@anynonymous1585 LMAO
?What's so funny? I'm living out of a McLaren 12c
So how is life in your new Lambo now?
Remember, you can live in a Lambo but you can't drive a house.
Thank you for the transparency! 🙏
Main reason why I absolutely love this channel,due to the way he is and acts,and not like others
ahhhhhhhhhhh a fake guru complementing transparency.
@@steph9954 💯👌
When he was looking at all those cool cars... we already knew he was gonna get the Orange🟠 Audi R8 🧡
The v10 in this R8 is lovely just wow! 🔥
E60 M5 S85B50 V10 > 👀
New car is DOPE!! Thanks for stopping by. Also, That cop was cookin'
Come on Brian. We waiting for those Tundra videos.
@@AlexM.. Planning to do a 5,000 mile review soon. Thanks for the support!
@@PIPSBURGHVIEWS awesome. Looking forward to it.
Glad to see you recovered and doing fine Brian.
@@5iFTYHFaviation_addict Thank you, I appreciate that!
You’re the fucking man. Honesty and transparency is rare these days. Hot car hot wife. Life is good. Shit does work out for the best. Keep doing what your doing brother
@@didafm he’s said before that his wife is a doctor. So if your trying to somehow insinuate something about her bc she was a single mom, you look stupid
@@jacoblancelot4337 I thought his wife did botox injections or something along those lines
@@jacoblancelot4337 think she's a nurse practitioner.
@@RelaxAndSmokeMeth dont assume you're going to look like an "ass"
Absolutely love your honesty and transparency it will be what gets you to the top mark my words! Most unfortunately are completely opposite of that and they wonder why they end up failing. Keep doing what you are doing it is obviously working well for you
girls: i need to loose some weight to looke good on my Insta
boys: i need to loose some weight for a better 0/60 mph
lose*
After this last year, I'd be happy to be able to finance a Camry.
Improvise, adapt, overcome
The Camry ain’t that bad for a daily driver lmao
Ayy you won’t have to worry about reliability 🤷♂️
The v10 just sounds so good. That grunt at the beginning gives me goosebumps. Such a unique sound.
Love how honest you are about this kinda stuff. Everyone else is so secretive...
U don't look as stress anymore,like u did when u had the ferrari.
Well yeah, he doesnt have those 3500 payments anymore
@@therealrene1 and Ferrari reliability isn’t as good as Newer Audi. Even with the 7 year Ferrari maintenance plan, I would still be worried driving a Ferrari
@@xavriz
But you drive a Ferrari, maybe not more reliable then a Audi. But it's still a Ferrari, i shall never trade in a Ferrari f12 for a Audi R8.
@@next3576 I hope you own a Ferrari because if not you’re talking out of your ass then because you don’t know other people financial situations and ideas.. talk is easy
@@xavrizUnlimited mileage 7 year warranty so no problem. He traded down V12 Ferrari compared to a V10 audi
Thanks Mike for being transparent with your fans. Always feels we learn with you. A lot of youtubers get so “corporate” the more followers they get. You really maintain that community mentality that made youtube great. Love the channel. Now lets have fun with that R8!
Congrats man. I love the color, best of luck!
Definitely appreciate the solid numbers up front , makes for a more informative video and allows us to put it in perspective as if though we were in your shoes. This can be helpful for those of us aspiring to be where you are at one day ! Thanks bud ! Great video .
The simplicity in your videos is so relatable. Congratulations on your new ride💪🏿
Mike, I would have went with a different lender. I’ll shop banks prior to getting the loan. There is plenty of banks that will fight for my business and not treat me like that. One time I had a bank pre approve me for an investment mortgage and then later on right before closing asked me to sell my sports car before giving me the loan. Lost over a month of time on this bank so I cancelled everything and found a bank that would still close me on time because they wanted my business. Basically closed a mortgage loan in a week and a half. I wouldn’t stand for that.
Very true never be afraid to look elsewhere
Yea, this situation sounds strange, I know people with less income and higher loan amounts.
Any time he or anyone says "that lender works or does things differently" be afraid. A loan that doesn't show up on your credit is also a very scary proposition for what it does and doesn't do. Miss a payment and it very well may just show up NOT as a missed payment but a judgment against you for the full amount which will be way more impactful than a missed payment on the same report.
Not sure what kinda of credit Mike uses but definitely isn't traditional...maybe micro lenders or something. As for Ferrari Finance yeah works differently cause its subsided and owned/offered thru Ferrari thus waaay different underwriting standards. Given his shown income on the channel vs what he writes off he bought a $252k car paying $4k a month...do you realize that is like an 8-10 yr auto loan or something if you add in interest and amortization? Ferrari Finance isn;t just giving the cars away and remember most regular lenders won't finance you for over 6yrs although 7 and 8 yrs is being offered more and more. Avg is 4 is what most financial consultants say you should shoot for. So yeah Ferrari financed him for that amount knowing he'd pay a lot more than $252k before he paid the car off and the initial portion was likely INTEREST to them=profit! That is also why he paid extra on the note ($5k) otherwise he'd never have enough equity on the car to be able to do anything else/get another car easily. His prior AMG Mercedes Benz income. may have helped as did TH-cam income with Ferrari Finance but not for a main bank! Simple math guys and finance 101....many have changed alot since 2008 crash and now with COVID19 things are looked at more closely and lots of factors go into loan approvals including overall economy conditions which can raise/lower approval tiers for borrowers and change $$ down and what is needed before a lender will say yes!
@@mdrobc13 10 yr car loan. yeah right.
All big banks underwrite loans this way now, they use your adjusted gross income to calculate debt ratios. Commission employees need 2 years of tax returns and they take an average of the 2z
You created a WIN WIN situation.💯
Thank you for being so honest and upfront!! Love the channel and how genuine you are, keep up the incredible work!!👍
You are one of the few people who have really inspired me to make a car youtube channel.
Thank you man! For the continuous transparency. It gives me hope in my channel growing and what things will look like in the future ;)
Thank you for sharing the details of how the different financing options work. Locking forward to lots of content with the R8
I work near Scally's Golf center and can't wait to see and hear this thing ripping around the area. Congrats on the purchase!!
I do enjoy your videos so much. You are one of the best TH-camrs to listen to man! Enjoy that sick V10!
Thanks for your videos. I enjoy them a lot. Loving the color too!
Don’t change the tiny unless you absolutely have to. The orange and black look awesome together. You can possibly apply for an exemption on the tint if you can state the car is some type of “show” car.
Man. Even your half car payment is 8 times my car payment 😂
Congrats young man. Really appreciate the info & transparency.
Huge props for putting your numbers and experience out there, and not leaving us to the "how to buy a supercar" system sellers!!
Love the vids!!!
Happy for you Mike..... Let the haters hate... You have now owned 2 super cars in your life... Much respect dude!! Keep up the great work! God bless..
Grym video👍 Du är en av få som är ärlig med att blotta ekonomin på alla sätt och vis och förklarar situationer med just pengar som dom flesta inte ens vågar nämna.. fan vad fet R8:an är👍
Great video man! Thanks for your transparency!!
Love seeing new uploads pop up on my feed. So glad I found your channel when you had your first c63. What a journey. Favourite car Channel by far
I love the financial breakdown videos. Thanks
Happy for you, amazing car, hope you really enjoy and I deff look forward to all the content with it, I live through guys like you until the day I can have my own lol 🙏🏽
Great video Mike. Thanks for the behind the scenes info. I did think that cop was going to get you!
Glad you managed to coordinate all the finances to get that Orange beauty. Great color. R8 GT is a wonderful car. I personally like the styling more than the F12. I’m more of a 1990s & early 2000’s Ferrari person. 😎. 🎉 congrats!
You have your business set up all wrong bro. You need to switch to s- Corp and pay yourself a salary. Stop telling banks you are a TH-camr. Give yourself a title. You made the financing harder by not having your finances set- up correctly. Also sometimes you will have to pay more tax to make a purchase and you have to plan ahead. Talk to an accountant and cfp about switching to s Corp and you can reduce taxes through retirement accounts ( solo 401k, etc). There was a time Ferrari Financial did not report to credit bureaus. If that's the case not having that loan show up perhaps was an issue too.
I love the transparency of this channel thx for the good content
Awesome background and detail bro. Keep making great content!
Love the new car. You should do a weight loss challenge/goal to get an even better 0-60 time lol 😆
That orange is just amazing! I think I gets sexier everytime I see it.
Thank you for the transparency and knowledge. It deff helps going forward for future purchases especially when considering going into business for myself. 👍🏼👍🏼 best of luck with the Audi
Fantastic video. Love the color. Love the sound. And Love the transparency. Congrats!
Dark tint on front side windows is dangerous because, people can’t make eye contact with you. I really love the color.
How is that dangerous?
Lol what?
Why would you want poors to see you?
Just flash your lights to signal peds and other drivers that it is safe to go
I got 15% percent with another layer of 5% on side windows with 35% percent front windshield 2 years no problem. His Audi came with 35% or 20% front windshield. Looks more stealthy so you can’t see him taking your woman home in it.
What kind of battery is in there? I replaced the standard AGM lead battery in my 911 with an Anti Gravity lithium battery and lost 40lbs.
Thanks for breaking it down man, have always been curious on what it takes to buy an expensive car. Btw I dig your “launch face” !!
AutoVlog you rock my dude keep doing your thing you’re videos are awesome 👏🏻
never been here this early idk what to do
Eat your vegetables
Obama got rid of Good Faith Estimate loans, even for housing. So if I make 300k a year and write off 300k, to the banks I make 0. It sucks. Trust me, I’m a business owner myself. Bank Statement Only loans are pretty nice though when interest rates are low.
Obama had to because of the cause of the recession.
So many people were defaulting on their loans.
I mean... I'm a business owner too so I understand to a certain point, but you can't double dip and be upset about the circumstances of each end.
Obama also forced banks to give loans to minorities who didn't have money to pay the loans back. Just so they can look good on paper.
@@overlyaggressivemeerkat As far as I'm concerned that was just comeuppance for the banks that received billions in taxpayer bailout money from fleecing the subprime market and causing the financial crisis in the first place.
Obama did everything he could to bring the U.S. down for China's gain. We are in Obama 2.0 of destroying the U.S. with the corpsicle in office now. How many people know about the un marked plane filled with cash sent to Iran on his last day in office?
Love your honesty..Which is rare these days..Have a blessed day..✌🏾👊🏾🙏🏾
Amazing video ! Thanks for transparency!
Should've hit up Ed Bolian for some exotic financing advice. He talks about it a ton.
Look at this guy. From what I can gather, he’s a self made immigrant, enjoying life to the fullest in the USA in a German car. Never have I been more proud to see a TH-camr get something. Gg bro
Thank you for sharing your experience. It helps to understand the business processes with different banks. Your open and honest presentations are helpful and appreciated. Enjoy the new whip! It’s beautiful and nasty at the same time!
Mike I really appreciate you going into detail on stuff like this as I had no idea.
Regardless of price though your R8 is spectacular!!! Great choice.
Autovlog is the only channel i don't skip ads
I got zero ads while watching this……why is that?
"How much weight are you looking to lose?"
"Down to 2.6 seconds."
Good stuff Mike , great information as always !
I think its so cool that you show us your journey and learning along the way. 👍
I can’t wait for the FI Exhaust For That Audi. The Color Look Amazing
Got to love when banks make you jump through hoops to get what you want...
B/c they don't want to lose their money?
Their $$ their rules
As they should make people jump through hoops 9 out of 10 times
All the bank needs to do is analyze his business and then provide the loan. The car is registered in his business so what does it matter how much salary he gives himself? Banks are stupid! Interest rates are so low right now that banks don't even want to lend out money cause they ain't making shit on the loan.
@@PimpSolja49 paper trails. If you’re not showing enough profit to pay, why would a bank lend to that person? Analyze? Regardless of what the expense is, it’s still an expense and doesn’t count towards income. Also, for a sole proprietorship a loan bought through a company ein, the loan still is backed by you personally. So if your business isn’t making money, you aren’t showing as making enough.
We love the real content keep it up. I actually learn something from your videos vs just enjoying them like other you tubers but you get nothing from it
Good on you man, luv the Audi and the colour, been watching for a while. Keep it up very entertaining 👏
Next Video: My 2nd Dream Car Gets Its 1st Mod
Glad you got it just needs a VF supercharger💥
Your transparency has blessed me soooooo much. Thanks Mike for always being 💯.
Love these videos man! Keep it up!
Bank said can't afford it, prove them wrong with a like 👍
Banks are tightening up across the board man. Even those of us with credit scores 780+ have to jump through hoops.
Great video and finance details, too! Enjoyed it!
Thanks for explaining all that. I knew you'd buy the R8 as soon as I saw it, because I would have done so myself !
Your vids on your c63 w204 were great as I have one myself and I love it to bits!
"Honey why are you loosing so much weights?"
Mike: no nothing I'm fine.(0-60 under 2 seconds)
Better car because its less money while being more reliable and still looking cool 💯
Exactly...way more reliable than anything Ferrari makes.
Congrats on the purchase Mike! Love the R8 especially in that color. Cant wait to see the videos you make with it, def a good replacement.
Dude thanks for the knowledge! Cleared up some things... This was gold!
The huracan ia resricted to 250 launch controls. Then they stop you doing them. I suspect the r8 has the same restrictions. So be careful you don’t run out in your first month 😂
That’s nonsense and has been verified to be false by Lamborghini there is no launch control limit, despite what random internet and redit posters claim
@@Carrissvmf I literally remember watching a video where they had to flash the ecu to remove it.
Fake news... They want you coming in to get it fixed. 💰💰💰
@@N3wbMa5t3r I don’t know whether this is true or not. However I watched a video where the car hit 250 and it disabled it. They then had to get it reflashed to remove the restriction. However doing this voids the warranty. Maybe they no longer do this I don’t know. Also very few drivers will hit 250 LCs
@@freddiejones4598 what vehicle virgins? He made it all up his car broke and wouldn’t go into launch mode due to codes not pre programmed Lamborghini limiters. There is no limits nor do you have to get it reset
The R8 is a better car than the F12. In every way. Including color.
I learned so much during your rant at the end. thanks for being honest and open
Great video, I am working out the whole LLC and Taxes thing. This was helpful.
You're super honest dude, appreciated by your viewers, and your new car looks Fantastic! 👍
good stuff mike, thanks for honesty / clarity ! we like things like this :)
This was very helpful 🙌🏾 thanks for sharing
Such an eye opener video. I'm looking to hopefully get one soon. I guess imma have the same issue. Except I live in Canada 😂 Love the video man, imma watch all these R8 videos forsure.
Loving the content mike have done since day one and the car is fabulous and k don’t think I have ever seen a colour like that on a Audi but I love it keep up the good work !
Greatly appreciate your transparency and in the end like you said it’s exactly what you want
First of all CONGRATULATIONS on your dream car!! Thanks for all the great content, keep it coming.. BTW, just watched your video on your RAPTOR and shared it with my wife. SHE LOVES that truck and says 'why dont you get one like that'.... LOL
Subscribed! Thanks fam and good luck with the Audi. We loved the F12 too but time for something new 🙌🏾🙏🏾
Great video Mike thanks for the knowledge. Hope you never get rid of this car.
These are great videos, lots of insight and you’re the ONLY one who’s up front 🤙🏼. I’m assuming no more hoopty’s lol
That R8 is just gonna be a magnet to cops with that color looks amazing though! Love the honesty and transparency keep the vids coming!
Mike, excelent content video ... thanks, keep on going!
Thank you Mike!! I love your videos! ❤️💯💯💯
Goals My Guy🤝🏾💯💯💯
I respect and appreciate your transparency...not a lot of folks do that.
Really enjoy your channel I have watched all your videos Mike
I have always enjoyed your videos, but I believe the thing I admire the most is your tell it like it is philosophy. Keep the good work and I will keep watching.
It’s starting to grow on me the more vlogs you do Mike. I think you need to try one wheel silver and stand back and take a good look. Keep it coming buddy.
You just got a new subscriber my friend thanks for being upfront its hard to look for vids of ppl explaining the down payments. I'm a cross country truck driver and I plan on buying an R8 hopefully in 3 years i only make 65k though
Love the videos and love the new car!