Budapest: There are only 499 LaFerraris in the world and a man who recently became a proud owner of the expensive car, was caught on camera crashing his 1.4 million dollar possession, only minutes after he purchased it.

While the video is not very clear, one can easily make out the red car being driven around the road and then spinning out of control, smashing into the side of a parking lot.

The accident took place in Hungary’s capital Budapest and the video was recorded by a man who was driving behind the Ferrari.

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