More Money Than Brains

Read in the local news today that police in metro Vancouver pulled over a car for not having a front license plate. The vehicle turned out to be a 2012 Lamborghini Aventador, which starts at $430,000 Canadian dollars, before taxes. The police soon found out that the 22 year old driver did not have insurance on the car. He was handed a $568 ticket and the Aventador was towed away. (In BC it’s illegal to drive without auto insurance.)

The young driver said he didn’t have enough money to pay for insurance, and complained that the fine was too expensive. I guess the moral of this story is don’t drive without insuring your vehicle. It’s a very irresponsible thing to do and there shouldn’t be any excuse for it. Furthermore, I think driving without a front license place is just asking for attention, I mean cheese and rice, what was he thinking?

 

But his biggest mistake was not planning ahead financially. He failed to budget by purchasing too much car and not having any money left over to insure it. What he should have done is buy a vehicle under $400,000, and used the extra savings to buy his insurance. Or just forgo luxury cars altogether and buy something more practical. Vancouver is the second most traffic congested city in all of North America. The Aventador’s ability to go from 0 to 60 mph in under 3 seconds might not be very useful around here.

Something tells me that he didn’t earn that car through hard work and sticktoitiveness because if he was bright enough to make that kind of money at his young age then he probably wouldn’t have made those mistakes and gotten his car taken away. Learning about how to legitimately earn, spend, and save money is the only way to properly appreciate the value of it, and respect what you have worked so hard to gain.

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Random Useless Fact:  Carolyn Davidson, the creator of the Nike swoosh symbol was initially paid only $35 for her design.

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Matt
10/25/2012 3:40 am

I simply don’t believe he doesn’t have enough to pay for insurance. After all, he can afford the gas, mind you, perhaps what he should be spending it on is some more education…

Liquid
Admin
10/25/2012 3:52 am
Reply to  Matt

I feel a little skeptical about his story too ಠ_ರೃ. Maybe he was just making up excuses on the spot. Yes he does need to educate himself more about money and social values in general. Driving around a powerful machine like that without proper documents is bloody disrespectful.

John S @ Frugal Rules
10/25/2012 4:54 am

Wow. How can you buy a car like that and not be able to buy insurance? It seems just a bit odd to me.

Liquid
Admin
10/25/2012 12:11 pm

Doesn’t make sense to me either. It’s like buying a house and then not being able to pay the property tax.

Steve@The Loonie Bin
Steve@The Loonie Bin
10/25/2012 5:53 am

That reminds me of all the people who buy the lower end BMW cars. They think they are pretty posh until it comes time to service the things. “What do you mean it costs $500 for an oil change and safety inspection?!?”

I would never buy a luxury vehicle living in Canada. Edmonton has wagon trails for roads and since we have 6 months of winter, it wouldn’t leave much time for enjoying it.

Liquid
Admin
10/25/2012 12:15 pm

6 months of winter wow. That’s different from our 6 months of rainy season in Vancouver. Don’t know which one is better. To me buying the lower end of a luxury brand isn’t as worth it as buying a higher end car of a regular make.

Alex Yang (@yyangalex)
10/27/2012 5:40 am
Reply to  Liquid

hey my 2008 ‘luxury’ car has a tape deck. now that’s a real luxury! lol!

Mo' Money Mo' Houses (@momoneymohouses)

How can someone spend as much money as a condo costs for a car, and then complain they can’t afford car insurance? Idiot!

Liquid
Admin
10/25/2012 12:18 pm

He obviously lacks sound financial judgement. Maybe next time he’ll remember to buy something he can a-FORD 😀

Phil
10/25/2012 11:00 am

It is a pretty wicked car though! and boy to have had the chance to drive it when I was young a stupid… My Subie does me just fine though, and it drifts awesome in the snow. I wonder how that thing corners in the Vancouver slush? I bet in winter it can’t make much under 10s a 1/4mile off the line like my Subie can. But it sure looks pretty.

Liquid
Admin
10/25/2012 12:32 pm
Reply to  Phil

Imagine taking this to a really nice race track and just drive it around for fun 🙂 I know these super-cars are very sensitive to driver input and hard to maneuver. I think driving it in Vancouver during the winter could be a recipe for disaster, especially with an experienced driver behind the wheel. Here’s a different lambo that slid out of control in a US suburb, http://www.youtube.com/watch?v=a0Ve2eNfgPQ&feature=relmfu It doesn’t even look like it was going that fast lol.

Marie at Family Money Values
Marie at Family Money Values
10/26/2012 8:47 am

Great story! Maybe his rich uncle gave him the car and he really couldn’t afford the insurance…..:D

Liquid
Admin
10/26/2012 8:50 am

Ha, maybe you’re right. First world problems at their finest 😀

Michelle
10/27/2012 5:28 am

Wow! The kid sounds dumb haha. He definitely should’ve planned it all out better.

Liquid
Admin
10/28/2012 5:34 am
Reply to  Michelle

He sure learned the hard way 🙂

Alex Yang (@yyangalex)
10/27/2012 5:42 am

having a brain -> can potentially make lots of money
having lots of money -> will not help you grow a brain

Liquid
Admin
10/28/2012 5:38 am

Wise words. Having adequate human capital trumps having a million dollars. Furthermore having money is a lot more fulfilling if you know how to use it. No point buying an expensive toy when it’s just going to be impounded.

Savvy Scot
Savvy Scot
10/28/2012 1:56 pm

Haha… What an absolute fool! Maybe he won it at one of those airport prize draws?

Liquid
Admin
10/28/2012 10:58 pm
Reply to  Savvy Scot

That would explain why Canadian airline companies are constantly strapped for money :0)

Pauline
10/28/2012 5:29 pm

If you can’t afford to make a scratch on it, you shouldn’t ride it. Especially if you are dumb enough to attract attention on yourself like that.

Liquid
Admin
10/28/2012 11:00 pm
Reply to  Pauline

That’s generally a good rule to follow for any vehicle. I think if I had that kind of money to spend I would want to buy a houses or something instead. Then use the rental income generated from my tenants to finance a car.

mochiandmacarons
mochiandmacarons
10/29/2012 8:43 pm

Definitely OPM (other people’s money) that paid for that car.

Also, a front license plate as I was once told, “ruins the look”.

Liquid
Admin
10/30/2012 12:28 am

That’s true, it does ruin the clean chiseled look of the body. Lamborghini should design a front license plate to match their cars. Maybe more of their customers will put them on then.