Happy! Happy! Joy! Joy! Lamborghini USA Offering 0% APR on New Murcielago Models
Lamborghini has just announced that it will be offering a new financing program in the US for its top-of-the-line models which include the 2009 and 2010 Murcielago LP640 Coupe and Roadster. “The Lamborghini Retail Finance Plan allows enthusiasts to finance one of the most exclusive cars on the road at a more competitive rate than ever before,” said Pietro Frigerio, Chief Operating Officer of Automobili Lamborghini America, LLC. “We are pleased to continue our relationship with Volkswagen Credit as well as partner with Woodside Credit, an established financing organization in collector and specialty cars, in order to provide several financing options to our clients.”
So, does this mean that the average Joe stretching his budget can cop a Murci now no prob? Absolutely, not. But it does mean that if you are a rockstar that has a credit score of 700 or higher, you can enjoy a finance rate of 5.99 percent with a minimum down payment of 10 percent and flexible repayment terms of up to 12 years. However, if your credit is above 740 and you can afford to make a higher down payment upfront, the program offers a zero percent interest rate over a 60-month period. The cheaper Lamborghini Gallardo models have been omitted from this offering. That said, most exotics are purchased outright and the lesser cost of the Baby Bull makes it a check signature away for most well-to-do potential buyers.
Under the new terms of Lamborghini’s domestic market financing program, a base model Murcielago LP640 Coupe, which starts at $354,000, will set you back $6,157.95 a month under the typical loan term of 5 years. This is after you plop down the minimum $35,400 down-payment. Not too shabby. Considering that this is only $5,000 more than the average mortgage payment, make sure you opt for some comfortable Alcantara appointments in case you are stuck living in it.
If you stretch to the full 12 years, the payment drops down to a much more manageable (for some) $3,107.41. However, total interest paid adds up to a whopping $128,867.08. That seems like a lot, but my college loans are spread out over 30 years and I will probably end up paying back something like $150,000 in interest. Dammit, I should have just spent that money on a Lamborghini. Boy are my priorities screwed up…