Lamborghini of America launched the Lamborghini Retail Finance Plan, which offers 0% financing for 60 months on 2009 and 2010 Murciélago models.
To qualify, borrowers must have credit scores above 740 and make a 25% down payment. On a base model Murciélago LP640-4, which retails for $354,000, payments could translate to $87,500 down and $4,400 per month.
For car buyers looking for a smaller cash outlay, Lamborghini’s 12-year financing plan at 5.9% interest might work better. With a credit score of at least 700, borrowers could put down 10% of the purchase price and pay $3,096 per month for 144 months. Granted, after 12 years they will have shelled out $126,824 in interest.
Hale – I agree with you completely in regards to the risk challenges of direct vs. indirect. There are significant differences in performance across the credit spectrum when comparing indirect to direct portfolios. The reason that dealers do not like direct lending is because it takes them out of the game in regards to marking up the rate. The higher rate that the customer ends up paying for indirect financing along with sometimes aggressive Sales/F&I people – results in higher losses in general for indirect. If you believe that eventually business models that are transparent and consumer friendly are going to win – then a much larger share of the market will evolve into direct auto financing.
Uh, I don’t think four bedrooms and two and a half baths can do 0 to 100km in 3.4 seconds.
I meant 100 kph.