How Much Does It Cost To Own A Lamborghini In Singapore

Designed to be as flamboyant as road cars can realistically be, the engine sound of the Lamborghini will grab passerby's attention – even if they're trying their best to disregard it (you). The Lamborghini is likely to be one of the top choices your choice if your primary intent of purchasing a sports vehicle is to be the centre of attention of those around you

Anywhere on the planet, a Lamborghini, a used one, can cost you tons of money. In Singapore, a Lamborghini isn't just a costly sports car that only wealthy people can afford. Instead, it's so expensive to the point that just the super-rich, who are not afraid to flaunt their wealth for others to determine, would even consider buying it.

An 'entry' level Lamborghini today would be the Huracan. It's priced at $798,000 before COE. Based on the current COE price of $41,510 (Cat B, Sep 2021), you'd pay $839,510 for your Lamborghini Huracan.

The cost of having a Lamborghini is not just their email list cost of the car. While the 6-figure price tag of a Lamborghini is the biggest obstacle to possess one, another costs that you simply incur when owning a Lamborghini are enough to create most regular people reconsider owning one, even if they are able to obtain the car for 'free.'

To own a car in Singapore, we normally have to check out five different cost components.

• Annual depreciation for Lamborghini
• Road tax
• Insurance
• Parking & Petrol
• Servicing & Parts Replacement

#1 Annual Depreciation For Lamborghini

Rather than worry about a car's sale price, what we should look out for is the annual depreciation of the car. If you're buying a new car, this is often calculated in line with the scrap value you receive after Ten years.

Based on our research, the scrap value we can return if we deregister our Lamborghini Huracan after ten years is about $169,712. Which means that annual deprecation for that car is all about $67,000 every year.

Annual cost: $67,000

#2 Road Tax

For a car like the Lamborghini Huracan, the road tax is nothing to scowl at. Expect to pay $5,834 annually on your road tax.

Annual Cost: $5,834

#3 Insurance

Unlike insurance plans for mass-market cars, it can be difficult to find out how much exactly we have to pay insurance policy for a Lamborghini. For this, we depend on information that influencer Naomi Neo shared inside a recent interview. In her own interview, Naomi shared the car's insurance would have been about $10,000, with no NCD.

In comparison, a 30-year old single male with no NCD or demerit point and it has not provided any claims within the last three years can expect to pay about $6,700 a year for insurance for a Porsche Panamera.

Annual Cost: $10,000

#4 Parking And Petrol

Firstly, if you're worried about the cost of parking and petrol, and still planning to purchase a Lamborghini, then it's probably a purchase that you should reconsider.

Like most other cars in Singapore, a Lamborghini uses petrol and spend the money for same parking rates like a regular car. So, this means if you live within an HDB flat, you have to pay only $110 monthly for season parking for the Lamborghini, much like every other car.

Monthly Cost: $600/month, $7,200 per year

#5 Servicing

Servicing is difficult to calculate. Like a top-of-the-line performance car, the amount you will be paying every year for servicing and parts replacement should be expected to become high.

Assuming no major parts replacement, you should expect to pay for about $5,000 annually for servicing. If there is a significant part replacement needed, expect to spend $10,000 or more.

Annual cost: About $5,000 (if no significant problem)

Assuming no major part replacement is required (a big if), you will probably spend about $95,000 (including depreciation) annually to own a Lamborghini. This means about $8,000 per month. On the Ten years period, you can expect to spend about $1 million on the brand-new entry-level Lamborghini

If the cost seems excessive for you personally, there are some 'hacks' that you could consider.

Firstly, you can buy a pre-owned Lamborghini instead. For instance, you can purchase a 10-year-old Lamborghini Gallardo for between $250,000 to $300,000 'only'.

Secondly, obtain the 50% NCD for the insurance. This is critical since you can save $5,000 if your insurance costs are $10,000 each year. But if you're an accident-prone or reckless driver, all the best finding an insurer who isn't likely to bunch on the insurance premiums, assuming they are prepared to insure you.

Lastly, hope for the best that no major parts replacements are needed.

Alternatively, you can check out our guide around the 5 cheapest cars in Singapore that you can buy in 2021.