Secret Entourage - How to Drive an Exotic Car and get Paid

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In the first installment of this series ( How toDrive a Luxury Car for FREE ), we discussed the carmarket from a dealerships perspective, how you can enjoy a sub-100Kluxury car for FREE, and actually have the comfort of switchingcars every year and keeping the process going. In this secondinstallment, I will take you through a slightly more complex methodthat will not only include exotic cars, but will also include thebusiness element that enabled me to get compensated $20,000 a yearfor driving now my own, Lamborghini Gallardo.

As an exotic car enthusiast and collector, Ihave always enjoyed driving beautiful and unique cars and haveowned just about every marquee out there. From an AMG to aLamborghini; each kept surpassing the previous, yet each one keptgetting more expensive. Therefore, created a challenge when it cameto upgrading yearly; actually it wasnt as much of a challenge, butmore of a really expensive hobby. The depreciation, which includedthe cost of ownership, simply made this hobby a bad investment anda poor financial decision on my part.

As with every challenge that comes our way,it is only matter of time that we as individuals find loopholes andwhat I call, shades of gray that we can use to our advantage. Thefinancial and tax systems have many gray areas to benefit thosethat make the most money and enables them to get the monies theyneed to continue funding the economy with more spending. This beingbecause ultimately the percentage of wealthiest individuals, whichis about 10% in the U.S., control over half of the spending in theU.S.

I am going to break down for you thesevarious gray areas, as well as show you three different examples ofhow this would work out. Ultimately, this method may or may notbenefit you, or apply to you, but you will at least know where torefer to in order to position yourself for it to work.

It is imperative that you have read andunderstood the fist installment of this series titled

How to Drive a Luxury Carfor FREE , otherwise you may not fully understand theconcepts discussed here. There are many sections in this book thatrefer back to the first book and your understanding of it. Shouldyou not have not read the previous book, you can pick up your copyshould you have any questions regarding the content in the bookafter having read it.

Here is a brief Review of what we covered inthe first book:

How to Drive a Luxury Car for FREE shouldhave educated you on why buying a new car is ultimately one of theworst investments you can make. It should have also educated you onhow to use the market to your advantage to ensure yourself thatyour money will not be lost when purchasing your next toy. Wecovered the car market in details, including the tools available tohelp you make an educated decision and how to inform yourself onwhich models make sense to purchase.

All of that content will apply here, as welook into a rather different breed of cars. We will examine theexotic car market, the dos and donts, as well as the businesselement associated with your purchase. This will not only ensureyou do not lose money, yet how to make money in most cases.

Before we begin, you shouldkeep in mind that you must have the ability to purchase an exoticcar and be able to afford its maintenance and expenses for thismethod to work. I will even go as far as saying that those thathope to drive and get paid, but cannot afford to purchase andmaintain an exotic car, should avoid all together from acting onthis method. As with any method out there, risk is always existentand, therefore, should you not calculate everything correctly. Theloss could be significant on someone without the means.

It Is Not About Making MoreMoney, But Rather Keeping More In Your Pocket. The Gap betweenGross and Net Incomes

Thats right. The number one problem withthis country is that it consumes itself rather than looking forways to preserve its surroundings. Think about all those aroundyou, they are on the constant pursuit of money and the constantpursuit of a better lifestyle. Yet, instead of workingintelligently, those individuals keep working relentlessly to makemore money; when in reality that additional money they work so hardfor is already in place, but given away to taxes. Think about yourpaycheck and how much is deducted each pay period (individuals withW2 only), then imagine how much more you would have if you did nothave any money deducted from your gross income. It is amazing howmuch of that money you can actually take back if you know what todo, though more importantly it is staggering to know how much ofthat money you do not have to acquire luxuries and other things youwould like and never lose a dime off your net income which you havecome dependent on.

Throughout this book, I will demonstrate howyou can close the gap between your net and gross income. As well asleveraging your lifestyle in between that will enable you topurchase that exotic car you want without breaking your existingnet income stream.

This method is not simple, does not work foreveryone, and does not work on every car, though it will be a greatbaseline to start with. It will take you through all the ways tomake it work as close as possible based on your situation andmarquee of choice.

INTRODUCTION

UNDERSTANDING THE EXOTIC CAR MARKET

How to Gauge the Right Marquee?

Why and How Exotics Depreciate?

Which Make and Models Work Best

Which Models to Avoid All Together

Maintenance, Cost Of Ownership, and Insurance

Typical Mistakes Exotic Buyers Make

The Financing

BUSINESS ELEMENT

Understanding What a Business Really Is

Proper Funding

Why a Shell Company is a Huge Risk

Schedule K-1 vs. Schedule C

The Relation of Your Business to Your Car

THE WRITE-OFF

Business Asset vs. Business Use

The Tax Write-Off

Converting Personal to Business Assets

Business Depreciation

Comparable Purchases

THE PROCESS DEFINED

The Gallardo and the Vantage

Changing Cars Yearly

Exit Strategy

Understanding The Exotic Car Market

How to Gauge the Right Marquee?

Finding the right exotic is half the battlefor this scenario to function. It is often more important that weselect the right marquee rather than the right model, color oroption package. These all play an important role, but the marqueeitself is the ultimate compromise you should not make. From Ferrarito Aston Martin, the choices for exotic marquees are endless andshould be selected carefully or your money may be vanishedforever.

There are many factors to consider whenselecting the marquee. The first and most important is the demandand innovation of such marquee. Then would follow with the modelline, popularity and upcoming design changes of the lineup, whichshould all be taken seriously. For example, understanding that theAston Martin Vantage started in 2006 and will not change untilafter 2013, is being very focal because the body design and appealwill remain the same for the 2006 thru 2008 models, all the way to2013 models. This now includes the largest depreciating factorsthat have already been taken into consideration. The Aston Martincame into this market to compete with the Porsche at the entrylevel pricing of 120K. Through this, the Aston will help comprehendwhy it was a successful selling vehicle of its model line. Inaddition, to emphasize that it is an introduction for most to themarquee hoping they will graduate to the DB9, DBS or V12 Vantagesas time goes by. Be aware that the Vantage platform is one that isnow starting to receive more aftermarket attention by tuners likeRSC, SR and The Vantage Collection. This will show that otherpredictions can increase in the number of cars out there, as wellas a younger demographic crowd acquiring them. This also makes aperfect recipe for the perfect investment.