Here's How To Get Your First Exotic Car And NEVER Be Upside Down On An Auto Loan Again
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- เผยแพร่เมื่อ 12 ต.ค. 2022
- Not only can nearly anyone can afford their first exotic car, it's actually a better financial decision than playing it safe and buying a Honda!
In this video, car flipping expert Pejman Ghadimi explains how exotic car depreciation works and how you can leverage it to drive Ferarris and Lamborghinis for free.
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shoutout to Reggie for not putting music in the background 😆
This is not a car video it’s a finance video! Super powerful info PJ
My guy PJ always dropping gems, stay blessed brother
This has been my outlook on cars/motorcycles for years. I've had three motorcycles the last three years and I've made money on all of them. Not only that but I've been able to get a nicer bike each time. I'm excited to start doing that with exotics.
Where/How do you sell them to make More Money?
Love this way of thinking vs. what I was always told which was buy something "reasonable" and drive it into the ground. If we can turn an exotic into an appreciating asset then it throws that old model out the window. Don't think that my X6 though qualifies for this. I also have never had a car pmt over $350 so I'd need to get past that.
I am grateful for your passion for teaching and cars...many benefits received!
My pleasure!
This is absolutely fantastic! 🔥🔥
PJ this was one of the greatest videos. Thanks for sharing all the valuable infos and helping all car enthusiasts out there. Keep them coming brother 👍🏻
Good job bro, that really got me to thinking of jumping on board with Exotic Car Hacks
The part that I don't get is who/How/Where do you sell them cars to Turn Upside/Make Money on the cars?
Wow this made a lot of sense 🙏🏾
Thank you for the information, i knew i was getting scammed at the dealer ship and that there had to be a better way to buy cars
Good video very informative
My man doing Gods work 😎
This is what i have been saying and doing.
Works for way more than cars too.
This guy knows what he is talking about.
100%!
This Is why I joined your site
I’ve been doing this for a long time. However it does get increasingly hard for these to work in high sales tax states like California. A lot of the time it’s breaking even at best.
This is gold!
Awesome video man!
Glad you enjoyed it
It’s kind of sad that this guy is giving people such false hopes!
I’m 40 years old. I have bought and sold somewhere close to 50 cars in my lifetime over the last five years I have owned Porche 911 and several other exotic cars.
My credit score is well above 750 and on average I make a minimum of $150,000 per year after taxes
And I can tell you firsthand it is not that easy to buy and sell exotic cars and make any kind of profit to try to roll it over into the next car.
The other part key is leaving out, thanks charge an interest rate, and generally a pretty hefty interest rate on any kind of used exotic car.
Most car loans are set up where you are paying almost all of your payments into the interest rate on the first few years of your auto loan!
Therefore, his theory about your auto loan payment going into the equity of the next car is completely false.
Not trying to discourage anyone from getting an exotic car! But this guy is giving lots of people false hope!
Smart way to do exotics 👍🏾
Thanks
Ive been doing this accidentally. My first cool car was a Nissan GT-R I bought for 48k. Drove it for 35k miles and sold it for 50k. Took the equity and bought an AMG GTS for 71k. Now 2 years later I am about to sell it. Onto the next one.
What’s it sellin for currently?
@@Anthony-qr4hd I bought at the dip so now it's 81k. Stage 2 eurocharged, full carbon front, side, diffuser, and wing.
Niceee great turn around on that. Car hacking perfectly.
Boom!
Found you in the wild! What’s up Ryan hahahah
Hey pj, what if you've already purchased a mid priced vehicles and have killer equity them,looking to buy a dream lambo but want to keep it,or maby trade up in a while.does it make sense to trade in ,use equity for a mild payment??? Love the info man.
Good good stuff
Bravo💯💯
While I agree with your basic concept, even with no value depreciation, there will always be a bid/ask spread. So, unless you're in the car business and can buy on the bid side, you will most likely lose 10% of the value (the bid/ask spread), plus repair and maintenance, while you own that non-depreciating car.
This is a great strategy to apply to real estate or business. It will bankrupt most people when applied to cars and watches.
"Life is too short to drive boring cars" PJ
I’m looking for 3 year old m5 competition like you said nothing for 50-60 they are all over 80k for base m5
How does one know when they’re buying an exotic at a depression period? And if so how do we know for sure that the vehicle will appreciate in value to either turn a profit or break even?
Look at how other exotics have depreciated and rebounded. If you want to see how the huracan will do, study the gallardo, etc.
Umm…. In October 2022 Even a 7 year old Huracan is selling for msrp or higher? Where do you see these cars at 30-50% depreciated value??
Wouldn’t the 6 payments be mostly interest? Therefore you would t have much if any equity for next vehicle?
No. That's how leasing and some scammy banks work but when you get the types of loans we teach you to get in the course you are building equity from payment 1.
What is your preferred method to sell the car? Private sale or trade in to a dealer?
Private sale usually
quick question...would a huracan be possible for someone making 130k a year with an 800 credit score? Appreciate any input you have, it'll be my first exotic.
You'll probably need at least one car in between depending how much your largest auto loan was. www.exoticcarhacks.com/buyers-guides/how-to-move-up-the-exotic-car-finance-ladder/
Bro, what about owning other assets like a house first?
They aren't mutually exclusive and there isn't a true "correct" order to buy them that is a hard-and-fast rule for every person. Property can absolutely be a part of your portfolio. Not everyone wants to own a home (especially not where mortgage rates are today), and homes aren't as liquid as cars. If you buy a car first then want to buy a house, you can sell your car and get your equity out within a week to complete your home purchase. Then once your deal is done, buy another car if you want.
What’s the best way to not be upside down though when you’re trading up that often when factoring in sales tax?
Register it in a state with no sales tax
Bought my F430 manual for $115k becz it was cheaper than F1 in 2014 @ Ferrari of SLC. At the time it was a dumb purchase @2.99 interest rate for 8yrs term from FFS and now with 13k miles & probably a $200k + market value? FFS does not report loan to credit companies so I was able to get a mortgage for rentals in CA. No good planning like PJ but I just wanted an F car to drive & look at in garage. Just got lucky but would have gotten exotic car hacks training if I was in market for my 1st Ferrari.
Is this true that FFS doesn’t report your loan to credit bureaus? 🤯
DO YOU HAVE A CAR BUYING SERVICE?
Pj stay dropping dimes
PJ is it weird that your Bugatti costs more than the house you live in?
My house is worth 2M more than the car, and the new one is 3X the car. Why would it be weird? My car collection is more money than both my new and old house.
@@ExoticCarHacks so who owns your cars and houses...the banks?
Theoretically how long can I keep the dream car without losing money? Once I hit the lambo i wouldn't want to have to give it up in 6-12 months thereafter
You probably would, so you can get the next lambo or ferrari, or just make 50 to 100k. Also, you can move up to hyper cars, were you can make hundreds of thousands in profits.
Depends on the car. Usually we keep minimum 6 months. The right Lambo you can keep for anywhere fro 1-10+ years. We usually dont keep too too long only bc we want to try new cars.
when you go to sell the car in 6 months isn't the payoff higher due to interest?
nah
Yeah but if you owe 45 on the car and the equity or trade in value is less they will add the reminding balance to the next car.
Other words takes time to find the right deal after everything
Interesting
💳💥💳💥💳💥💳💥💳💥
Sign me up
Is PJ wearing a pistol. Concealed carry
Lol bro you need to promote what you do more instead of bragging. It’s too many TH-camrs doing that lol and everyone hates them. Keep putting out good work.