“Most People Are Broke!” Lamborghini Salesman Reveals Who ACTUALLY Buys Their Cars! | Ed Bolian
Ed Bolian, former Lamborghini salesman and exotic car investor, joins The Iced Coffee Hour to explain how he built more wealth from cars than from his YouTube channel VinWiki.
The gist
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Buy damaged or poorly-conditioned examples of rare cars, restore them slowly, and sell once condition improves to capture the biggest appreciation gains.
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Bolian says driving 5,000 to 10,000 miles a year on an exotic reveals what actually needs fixing, cutting unnecessary service costs by 60 to 80 percent.
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New cars lose about 1 percent of their value every month, and used EVs are hitting 50 percent residual value within 12 to 24 months.
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A 60 to 200 dollar remote inspection through Lemon Squad documents defects before you negotiate, often saving thousands off the asking price.
"Last year I sold six cars in one week on Cars and Bids. And so we're going to do that again in November on Cars and Bids, but rather than being all Ed cars, they're going to be just VINwiki story cars."
▶ Play at 21:01"In my entire life, the only new cars that I have ever known about being purchased is I stupidly bought my Tesla new."
▶ Play at 1:03:5225 creators recommend it, including Joe Rogan, This Week in Startups, and Lewis Howes.
See all on the Tesla page"We use a company called Lemon Squad where they can get out and inspect a car usually within like 24 hours, no matter where it is. It's kind of a gig economy solution. Lemon Squad can be $200 or less. They can do it live from your phone if you need it done right then for like 6..."
▶ Play at 1:08:20"Facebook Marketplace is where you go buy some real junk. And I like that. I spend a lot of time there, but I don't go there thinking like, I'm going to buy a great car today. I'm going to buy a 200,000 mile Maserati that runs on half the motor."
▶ Play at 1:22:309 creators recommend it, including Chris Koerner, Braden Harman, and Brendan Schaub.
See all on the Facebook Marketplace page"It was that Heritage Auctions. It was a three-piece storyboard set. The key scene from Nightmare Before Christmas, where Jack and Sally hold hands on top of the hill."
▶ Play at 1:28:552 creators recommend it, including The Iced Coffee Hour.
See all on the Heritage Auctions pageWhat they recommend · 6 picks
"We use a company called Lemon Squad where they can get out and inspect a car usually within like 24 hours, no matter where it is. It's kind of a gig economy solution. Lemon Squa..."
"I'd be investing in index funds, real estate. I'm stuck with the cars because I bought them cheap and if I sell I'm going to have to pay tax on the gain, so I'm kind of locked i..."
"Last year I sold six cars in one week on Cars and Bids. And so we're going to do that again in November on Cars and Bids, but rather than being all Ed cars, they're going to be ..."
Ed Bolian
4 picks · guest
"We use a company called Lemon Squad where they can get out and inspect a car usually within like 24 hours, no matter where it is. It's kind of a gig economy solution. Lemon Squa..."
"Last year I sold six cars in one week on Cars and Bids. And so we're going to do that again in November on Cars and Bids, but rather than being all Ed cars, they're going to be ..."
"Facebook Marketplace is where you go buy some real junk. And I like that. I spend a lot of time there, but I don't go there thinking like, I'm going to buy a great car today. I'..."
Graham Stephan
1 pick
"I'd be investing in index funds, real estate. I'm stuck with the cars because I bought them cheap and if I sell I'm going to have to pay tax on the gain, so I'm kind of locked i..."
Jack Selby
1 pick
"In my entire life, the only new cars that I have ever known about being purchased is I stupidly bought my Tesla new."
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