How Much Money Did we LOSE on our Lamborghini Huracan?
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- Опубликовано: 7 июн 2024
- We finally sold our Lamborghini Huracan, and we lost a LOT of money on it. How much? Watch and find out. As it turns out, selling a Lamborghini Huracan has proven to be extremely difficult and we probably won't ever have one again in our dealership.
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Speaking as an attorney; please don't get intimidated when people threaten to sue. Talk is cheap. Suing somebody is expensive. Not to mention difficult.
Oh yeah I'm aware and dealing with that right now already.
100 Percent truth to this. I never understood this until I needed an Lawyer. Just to talk to them and start any process is 5k. Going to court for a simple case add 10k-20k just to get there. Seeing something to fruition is an easy 30k for a pretty simple matter. Now when I hear someone say "I will sue you" I believe they think they will try, but will quickly learn that don't have the funds or if they do want will realize it is not worth it. It is also a huge gamble trying to sue someone. You could spend 30k and and see nothing for your return.
Attorneys don’t scare me they are all the same but taking time out of my already busy schedule to deal with them does
@@normalguysupercar I think you did the right thing returning the deposit
Agreed. And you don't want to set a precedent with giving back non-refundable deposits. You may need to have dedicated legal for your business if you don't already.
If you put a deposit down and the ppi catches stuff and the dealer can’t figure it out for weeks. I’d want my deposit back too and glad I requested the ppi. I feel like him getting it back was reasonable
Agreed!
I'm gonna argue that the deposit is why you're allowed to get the PPI and spend time mulling it over. If you back, then the deposit was there to secure the time.
@@normalguysupercar so you should be allowed to keep my deposit if there’s things found to be wrong with the car that even the dealer can’t figure out😳. I feel like most buyers would want to back out. And the seller keeping the money on a car that has issues is kind of crazy
@@normalguysupercar that’s a actually how real estate purchases work in Spain. There are 2 deposits. The first one, maybe 10k, buys you a couple of weeks to get it inspected and decide to move forward or not. If not, you lose it. If you move forward, you put down 10% and you will lose it if you back out.
Even if the limp mode magically went away when the car was returned, the fact that the dealer had it for weeks and couldn’t figure it out would be enough to scare me away from buying it
When you buy a house typically your offer is contingent on passing an inspection. If the house inspection reveals unanticipated/undisclosed problems then you can request it be remedied or you will get your deposit back. Same with a vehicle. That’s the whole purpose of a PPI.
Yes and typically a PPI only is a few hours not weeks. The only reason we let them keep it for weeks is because the buyer kept saying he was going to stop buy it.
@@lutomson3496 I cleared the codes and cleaned the egt sensors then drove it 200 miles. That's not magic.
Love the honesty and willing to admit loses as well as wins. You will make it up over time. Lesson learned.
Yup
Again love the honestly and rawness of your videos following along as it happens. You win some and you lose some and even though no one wants to take a loss, maybe you can offset it against gains on future car sales. You are going to one day be on VinWiki telling car stories for sure.
Indeed
Congratulations on the sale.... so sorry for the loss !!! One thing I learned being a subscriber here for 4 years now, is that you always bounce back !!! Don't get discouraged, you got this guys !!! Cheers !!!
Thanks
A deposit is always given, assuming that everything is OK and refundable if the PPI is unsatisfactory. So, your refunding the deposit is normal business etiquette and practice.
I was in the same situation and had made it amply clear, and the dealer accepted that it was a no-brainer.
We had discussed and agreed prior to the PPI that only significant mechanical issues discovered would be justification to back out. We resolved the limp mode
I love your honesty. You earned another sub 😊.
Welcome aboard!
Car fail inspection and you want to keep his deposit?
That's a scammy move as a "dealer" lol
It didn't "fail" the PPI, the issue was resolved
It miraculously appeared and then disappeared. Not sure we can consider that ‘resolved.’
well if youve only lost once in years of dealing your doing amazingly well and your future is bright
That's more than once unfortunately but it's going to happen. It's a guarantee in the car business that you will have losses here and there..
appreciate the honesty and transparency. on to the next car(s)!
Yup
Damn, I would have really considered buying that. Saw it online a week ago but didnt realize it was your car. Then i couldnt find it again. Just saw this video while browsing tonight. I definitely would have felt different knowing that it was you selling it. You guys are a stand up crew!
Thank you
Important to have an agreement re: when deposits will/won’t be returned. That being said, if seller requires that the deposit will not be returned even if the car goes into limp mode during PPI, I wouldn’t be willing to put a deposit on it under those terms. Not a big deal. Sometimes parties can’t agree to terms and have to part ways without a deal.
Indeed
In real estate deposits are refundable if certain conditions are not met. Limp mode seems like a solid reason to me even if it magically came and went away.
Perhaps but we did fix it by cleaning the egt sensor.
Wow! Now that's a 'cautionary' tale about the exotic car business for sure! Some times you win, sometimes you lose however, like the stock market trading it's always better to cut your losses soon rather than let them grow bigger! That violet color was beautiful though, shame!
Yup
Love the color. Are there spacers on the wheels? It just looks off with the wheels sticking out so far.
Yeah
I feel your pain
Selling cars is hard work
Let alone supercars
Yup
The purpose of a deposit should be very clearly defined … with no room for misinterpretation… and if anything is ambiguous then so what you think is right and stand by it
We did discuss it and he violated our agreement
Love this video!
Thank you!!
Love the real numbers. Thank you
You bet
The car is gone. Concentrate on the good. No more worrying about it. Lesson learned for the next time you see a modded Lambo...do not buy. All the best to you! Your channel is great. Honesty always wins out in the end.
Indeed
I can’t believe how hard it is to sell a Lamborghini but fast to sell the Ferrari.
Yeah
the vids with real numbers are always my fav
Thanks
You’ll make up the loss on the next couple sales boys. No worries, it all averages out if you’re on top of your game like you guys :)
Yes indeed
Interesting from a dealer’s perspective cf the consumer…I’d struggle to buy anything in limp mode.
We fixed it and it was no longer in limp mode
Every car sale is a learning experience regardless of profit or loss and will make you better for the next one. Big wins & big losses in your stratosphere. Many yrs ago I bought a nice 2010 Audi TT cab in mid summer but wasn't able to sell it until the following May. Wasn't going to make much on it but it was sold as long as it passed a PPI. Got a rock chip in the windshield taking it to the shop. Had to adjust the sale price for a new windshield, so that left me with a fat $400 profit.
Yeah
long time follower, ever regret gettin into the car biz ?
Nope
How's the new driveway doing? Any tire marks on it yet, from big smokey burnouts?
Haha no
Damn bro. I work with Lamborghini of Beverly Hills the Business is different when your with an Authorized Dealer. 💶💶. But I respect it. Luxury car business isn’t always easy.
Indeed
That was the right move on the deposit. If the car was fine then yes take it but since it was in limp mode I think the right thing was to return it. Hang in there
It was no longer in limp mode as I stated
How much did you buy it for and how much are you selling it for? Obviously, the black roof doesn't go good with the viola 30 paint. It would sell for more if it wasn't modified.
We don't disclose sales prices to protect the privacy of our buyers.
If a buyer signed a contract saying the deposit is nonrefundable let them sue you all day long but if not, as a dealer you are not allowed to keep their deposit. Plain and simple….
Yeah had an agreement, still not worth the hassle
@@normalguysupercar agreed… But it all depends how much deposit you have. People need to understand that they need to pay to play.
Call your legal and get them to draft a retainer agreement on purchases for high end items. Did this 15 years ago and never had to worry about a the notion that a deposit maybe refundable ever. Check your state of course legal is quite different state to state.
Yeah we're going to
Yep, I've been through the whole "I'll sue you" thing over deposits many times. Granted, they were around the $1k mark, but you are right, that is what a non-refundable deposit is for.... if you back out, you lose it... plain and simple. My response to the "I'll sue you" comment has always been "Let's do this!!", haven't lost a "case" yet. 🤣
I like that plan
The news clip is Chef's kiss
Oh yeah
One step up ..... two steps back. BUT things even out. Put it behind you (easy for me to say) stay the course. You are due for a hot streak.
Excelsior.
Eh it's more 2 steps forward, 1 back. Loses are gonna happen in any business
Yes. Yes yes.....carry on and full engines ahead.
Good luck 👍👍
Thanks 👍
Wow, sorry for your loss Dan. Just curious, what’s the proportion of tire kickers for Lambo vs Ferrari? I would think you have an easier time selling Ferrari. Also, I know you haven’t sold many Porsches, but I’d assume the Porsche clientele would be similar to Ferrari, and not Lambo.
I would say it's 100:1 on Lambo, 10:1 on Ferrari
Good Afternoon Dan, gladly you sold it.
Yup
Well,.we loose some we win some..now its keep up with the hard work to recover the losses and keep pushing
Yup
I love that spec…. But I am full up atm.
Yeah
"I Googled the seller" Sooo many good stories start here LOL
Oh yeah!
That 812 GTS that he sent you in the video belongs to 312 Supercars …..they have a RUclips channel and are located in Chicago. You can see the 812 on the channel
Ah makes sense
If you play with cars your going to have to expect the tools to come out , and not from your Box . How ever a Limp Mode issue that the dealer could not fix puzzles me ? It could be something as simple as an Oil change or sensor .
It was the egt sensor
You took a deposit, the guy wants a PPI and the car went into limp mode. The whole point of a PPI is that you lower the chance of buying a lemon. How is it reasonable not to refund the deposit if the car is clearly not in the condition the buyer expected?
Because we fixed the limp mode
My God 40k! Hang in there Dan
Yup
Sorry to see you take a loss like that. 😢
It happens unfortunately
how much did you sell it for? i just saw it at vegas auto gallery the other day
We don't disclose final sales prices out of respect for the privacy or of clients
@@normalguysupercar gotcha. im asking bc they have it at in the 230s and im starting to shop around, if they have it at a fair price or i could find one for a little less
Great story, How do i get my first supercar? What can do to be able to afford such cars
Figure it out
Sorry to hear it’s been such a nightmare to sell that car. They are GREAT cars and imo the base huracan NEED mods, as I think they look a bit too “clean” comparing to the later variants. They are never going to be collectors with loads made so the wing etc is actually an improvement (I love my perf to death). When I was looking for an aventador I was specifically looking for ones with SV or novitec body kits coz I think that’s how a lambo should look as the base Av looks too vanilla. However, I do want the mods done right (being a picky ferrari and porsche owner as well) and not a riced, abused sample. Anyways best wishes selling it soon and moving into the next car
The mods are great to individualize the car but makes them much harder to resell
Okay, guys, I just got off the phone with a procuder for daytime Soap Opera's. He's always looking for a new pitch- "These are the Days of our NGS Lives". One caveat is that Meg and I must personally interview the Hot Ass 🔥 Men that will be playing the salesmen of the dealership..😂😮😊
Might be a good idea 💡 for extra 💰 flow.
Lol love it
If your car went into limp mode during an inspection you should return the deposit.
We fixed the issue
Wish I had the money to buy it at asking price just so I could take the grief and stress away. I can tell you’re bothered by it but please let it roll off and don’t give it much though if possible. You guys will make it big just bc of how honest you run your business. Word of mouth is the best marketing!
Yeah I'm just happy it's gone
@@normalguysupercar Like you did in a previous vid -"NO MORE LDMBOD" lol
@@fit_pharmd4830 well it's physically gone and we have full payment and signed contracts so I'm gonna say, yeah it's not coming back
I really liked that car. At least you guys sold it.
Yup
Put it on Consignment in California. Philips Auto Newport Beach
Na
Really sucks that you guys took a massive bath in this car but at least it’s finally gone. Is the buyer one of the guys from Thursday’s live?
No the buyer is not
Make it up on the next one Dan! Interesting video to say the least.
Yeah $40k profit on a single car is pretty hard to do
@@normalguysupercar cmon Dan I have faith in you and be positive! Ok if not the next one maybe the next two!
Thank god its gone! I love Huracan's (even though they're not my favourite Lamborghini) but seeing you go through this shit with this car is sad. Was it like this with the Superleggera before Steve bought it?
Nowhere near the same for the super g
Sorry for the loss but at least that car is gone. On to the next!
Yup
What a pain.... you did right thing by giving the deposit back... you sure do have a lot of odd people coming for your cars... its never dull dealing with Super Cars .... 🤣🤣🤣
Yeah it's always entertaining
End of story, the guy deposit was contigent up on a good ppi, if the ppi comes back with problems then, he has a right to get his deposit back, he is only responsible for paying the ppi cost, i did the same for a range rover and the car has 13 codes and the owner pretend like he had no idea of the faults, he was honest to let me know that its up to me if i wanted to continue.
Well we took care of the issue but still have the deposit back
It's ok, losses are sometimes par for the course.
Yup
You guys should of got in touch with Houston at Royalty Exotics here on RUclips, he buys lambo’s even modded ones
True
Ouch ouch ouch, glad it sold 🎉
Yeah
What was the final sale price?
We don't disclose final sales prices on any cars we sell.
@@normalguysupercar Understandable. I'm sure if interest rates were still low the car would have sold a lot faster
Hang in there!
You're going to have ups and downs, all a part of life...
Yup
WOW what a Story and deal ..... ;-D
Yeah
Deposit is usually just to hold the car, if you don't buy it, you get it back 🤷♂️
Then there's no point in the deposit. It's a deposit not a hold my money while I make a decision bank.
Car going into limp mode during PPI warrants a deposit back, don't care if you fixed it, I wouldn't trust a person trying to sell it, sorry
OUCH! Gonna take some time to recoup from that
Eh perhaps
40k hit…ouch! Hopefully you have more winners than losers.
Indeed
Damn, that sucks.
Yup
don't understand why carbon fiber parts would be an issue. i would think people would want it especially if it is quality
Eh it depends if they are stock replicas
It used to be easy with all the SARS-COV-2 money, from the government, that business owners funneled into buying exotic cars. Hopefully, it gets a lot harder so dealerships will actually negotiate and haggle on prices instead of telling the customer to go and F themselves. Which happened a lot over the past 2-3 years.
Yeah we're seeing that a little
Anything too modded comes with too many unknowns. That car stock would’ve sold long ago. Even tasteful mods are fine. Those mods don’t give the impression of careful ownership. Better to lose the 720S sale on a true safe quote that would’ve allowed you to immediately flip it to wholesale.
Yup
The way you talked about the car, you would be CRAZY to buy it 😂
I hate the car but it was solid
Amazing Honesty - I'm impressed 😁
Its purple like barney, and lol barney got tied to a tree i think 😅
Haha
the lambo heard all those nasty words 😔being told it 'needs to go away ' lol
Well fuck that car. Lol
It seems your take on a "deposit" is a bit skewed. Correct me if I'm wrong, but unless it was stated up front as a "non-refundable" a deposit is sent to hold a car and to show that the buyer is serious. It is not a paycheck for you to hold onto if the buyer does not want the car and not meant to compensate you for time/expenses spent during the buying process. Deposits should always be returned unless otherwise stated.
It was clarified as non refundable in writing and discussed.
People ask me if they should sell a high end car themselves and I always tell them no don't do it. It is a stressfest and have a pro sell it. The same goes for clunker $5,000 car that you are trying to sell. Most times with the clunker it is better to trade the car in.
Yeah people think it's easy.... Oh boy
Y'all should start a new channel called "You might be a super car dealer if". Selling these cars brings out the freaks, no doubt.
Oh man it does
One thing I learned about being in business for yourself. IF it was easy everybody would be doing it....
True
Losing money on a car? You have been hanging around Tyler Hoover too much LMAO!!
Ha
What did you end up selling it for? Not sure if you how much you paid in a previous vid
We don't disclose sales prices
@@normalguysupercar hey totally fine. Just curious if you ended up going with something somewhat lowball.. I know most of those fb messages were totally not serious people, but wondering if a semi serious offer would have been considered, say 180,190k etc.
I know huracans had been going for about 150-200 pre covid so it seems like they are just retracing about back to that.
I feel bad for your situation but do you watch youtube videos? From memory, Houston, Lucky, Brandon (CQA), Zack and Ray (Car Edge) have been talking about car prices going in the toilet for months. Heck, Houston and Lucky did a pod cast what? 6 months ago specifically about exotics. It's time to sell all for whatever and pick up an 08 Ford Fusion.
We've been making money pretty consistently.. just not this time
Maybe best stick with Ferraris always a safe solid Supercar buy for owners and sellers. Selling cars is like a Rolling Stone or Rock in America Lanuage, it gathers no Moss, always keep them moving internet surfers dont like cars that dont sell puts doubt in people's mind.Mclaren and Lambos are 2nd division in supercar league. Your very good at what you do this is only a minor hiccup.
Yeah we prefer Ferraris for sure
Hang in there Dan…every business has a horror story bro..
Yup
Purple pandemonium has passed! 🙏👏 on to something more fun!
For sure
It’s a gorgeous car in my favorite Lamborghini color. Wish I had $$$ for it.
Thanks
You are right if the car stays to long get Stale
Yup!
In 2022 I'm sure many of us lost a lot more money than that in the stock market. Good thing is you can reduce your taxable income that way.
Yup
Can I make a suggestion? Ask Stradman if he is interested in it. He loves pink colored Lamborghinis with wings body kits etc etc
It's already gone
@@normalguysupercar Great 👍. Hopefully it's forever this time around
@@willemvandernest3249 well I mean it is gone like they already had the title, and car, and we have the money so it's a done deal
Was just told its sold (
Yes
ouch that is a lot to lose, more closer to 50 or 55k given the profit you were hoping to make on it im sure.
Indeed
Sorry for telling you this but customer that wanted his deposit back was in the right. He left the deposit in good faith that the car was going to check out and after several weeks of back and forth because of some issues would make anyone want to back out. Running the car around for PPI’s and tying up a car is sadly part of the business which just sucks but keeping a customers deposit that has every intention to buy it ……assuming it is a solid car, isn’t the right business move
That's not exactly how it played out
-$40K sucks. That's like twice the value of my car when I bought it.
It's painful for sure
So Dan, given this clusterfuck, are you more reluctant to go into Lambos moving forward?
Generally we will avoid Lamborghinis
Cost of doing business. Not every deal will go smoothly and be successful. In the long run other deals will wash this one out so don't dwell on it too hard. Sometimes the lessons learned are more valuable than the money lost on the deal. Remember, there is an ass for every seat!
Yup, I'm not worried and oh boy did we certainly learn some lessons
Cars and Bids hahaha
We considered that
😳😳😳aside from my toolbox….I don’t even own anything that cost 40K. But I’m just a regular dude.
That's all good
You have tools to check if a car is legit, you’re a car dealer. How is google your background check for if you do a car deal ?
Start with Google and progress towards things that cost money.