| Author | Message | ||
| David White (Dwhite)
New member Username: Dwhite Post Number: 46 Registered: 7-2002 |
So what if someone wants to use the word "investment". I never knew an investment had to go up. Some investments just plain hold their value against inflation or go down(hense the phrase "I made a bad investment"). Anyway, I have financed cars, as stated in prior thread here, why wait if you can afford it now without shirking other financial responsibilities. Some people are more comfortable paying cash for everything, others will finance. The more important thing is if you enjoy the car, boat, country club, mistress, whatever you want to spend/invest your money on/in. Semantics is such a waste of valuable time. | ||
| Dave328GTB (Hardtop)
Junior Member Username: Hardtop Post Number: 209 Registered: 1-2002 |
Like Mr. Hart, I, too, am a "serial owner". Too many cars, too little time. Like Mr. Parker, I paid cash for all of them. I do not believe in borrowing to buy a depreciating asset. I also get satisfaction from having title in hand. I never use the word investment when speaking of Fcars. They are recreation for me pure and simple. I drive them a lot and I know every click of the odometer costs me money. It's worth it to me or I would not do it. Nevertheless, I am fully aware of the car's value and the costs involved with owning it. Finally, I do not own or have ever owned a gold chain or watch. Dave | ||
| Fred (Iluv4res)
New member Username: Iluv4res Post Number: 27 Registered: 8-2002 |
Hey, Bruno, I have a gold chain....so what. I have a gold watch too. By the way, those have been excellent investments.......  | ||
| Fred (Iluv4res)
New member Username: Iluv4res Post Number: 26 Registered: 8-2002 |
Hey, Bruno, I have a gold chain....so what. I have a gold watch too. By the way, those have been excellent investments....... | ||
| Willis Huang (Willis360)
Member Username: Willis360 Post Number: 829 Registered: 8-2001 |
"Serial Owner". I love that! But seriously, William. Your attitude is exactly right on. You want to drive and experience different types of Ferraris. Doing that and keep an eye on value at trade-in time. That's what I plan to do too. Problem is that it's going to be difficult to part with my current 360 when the time comes to trade for a new one. Being that it's my first F-car. | ||
| wm hart (Whart)
Member Username: Whart Post Number: 432 Registered: 12-2001 |
I am a "serial" owner, in that i can't afford to have a stable of ferraris, but own them (at least so far) one at a time, to enjoy the experience of different F cars. I have traded up, down and sideways, and, while i never bought any of them for an "investment," per se, i am conscious of the amount of money i have tied up in cars; based on Frank's rule, i probably can't afford an F-car, either, since the money can always be better spent elsewhere. But, i love the cars, and the experience of owning and driving them. Nonetheless, i try not to lose too much money when i change-up and, except for the 97 Maranello, i have either made money or broken even on every ferrari i have owned. ( i bought the Maranello when they were still priced high, and got out of it right before the bottom dropped out, to get the Barchetta). I don't consider myself a gold chain type, or speculator, or "investor", but someone who relishes the opportunity to enjoy as many of these cars as i can. | ||
| Willis Huang (Willis360)
Member Username: Willis360 Post Number: 828 Registered: 8-2001 |
Getting an estimate on market value is fine. But when people start using the word "investment" around cars, you get the feeling that those people are not interested in the car for what it is or even enjoy driving them (low mileage flippers). Bruno's right. Are you a Ferrari guy or a speculator? I, for one, stand firmly on the Ferrari guy side. | ||
| Paul Newman (Newman)
Member Username: Newman Post Number: 304 Registered: 12-2001 |
I like to know the value as well because I wont own it forever, I plan to upgrade within a year or so. I dont have a truck load of money so if it goes down in value, it means I need to scrape up more for the next one. If I had to finance a small portion of the next purchase, I would. I dont mind a small debt on a toy like a ferrari but a lease or a zero down is out of the question. | ||
| Michael Fennell (Mfennell70)
Junior Member Username: Mfennell70 Post Number: 67 Registered: 7-2001 |
I agree with Frank but you surely have to have a LOT of money to be completely indifferent to the resale value of a $100k+ automobile, even one you paid cash for. Personally, I like to have a feel for the value of all my major assets, toy or not. | ||
| Tim N (Timn88)
Intermediate Member Username: Timn88 Post Number: 1376 Registered: 6-2001 |
oh man, no bbq? food is good, but its always better when its dripping in fat and coming off a grill. | ||
| ELI (Titanium360)
Junior Member Username: Titanium360 Post Number: 111 Registered: 4-2002 |
Bruno: Drive and enjoy. Life is too short! | ||
| Bruno (Originalsinner)
Member Username: Originalsinner Post Number: 336 Registered: 5-2002 |
I think you hit it on the head Frank. I cant imagine paying interest on toys.But then again I cant imagine paying interest. | ||
| Frank Parker (Parkerfe)
Intermediate Member Username: Parkerfe Post Number: 1177 Registered: 9-2001 |
I suspect that the treason a lot of people seem to be so interested in the money aspect is because they have bought a car they really can't afford comfortably. If you will read the post you will see people who have financed a Ferrari, leased a Ferrari and some have even taken out a second mortgage to buy one. IMHO any of those ways are a big mistake. Wait until you can pay cash before you buy such an expensive toy. The fact is if you can't afford to buy it, when it breaks you won't be able to afford to fix it either. What are you going to do then , borrow money for a repair or a 30k service ? | ||
| bruce wellington (Bws88tr)
Member Username: Bws88tr Post Number: 645 Registered: 4-2002 |
bruno where are you going on your so-called vacation?? i just got back from l.b.i., 6 kids, 2 families, 3 bedroon condo..i need a vacation now.. for the party on the 17th, its at 1 pm, email me and you can map quest his address..no bbq, it will be too hot, we switched to long italian subs, etc...just bring beer or wine see ya saturday in new hope, or else meet us at dillys at 8.00 am regards, bruce | ||
| Dave L (Davel)
Junior Member Username: Davel Post Number: 193 Registered: 7-2001 |
Good for you Bruno. Great attitude. If its driving...buy it and do so. If its wrecked, I have insurance, if its gonna break I will try to catch it early or have it done when it fails. Just like aircraft, cars run better and will make you happy if you drive them and maintain them properly..JMHO | ||
| Bruno (Originalsinner)
Member Username: Originalsinner Post Number: 335 Registered: 5-2002 |
Bruce,bringing 308 to Newhope, If I can make your party will bring something much more interesting. The party is the weekend I am suppose to be on family vacation. (quality time). Crummy hotel room at beach with 4 people. Lovely. | ||
| Dave Wapinski (Davewapinski)
Member Username: Davewapinski Post Number: 286 Registered: 8-2001 |
Sunday morning a weekend or two ago, I took Friskie the Beagle dog for a walk in the park and also to wake up. It is hard to find good hotels that allow dogs, but many times I still take him. They were having an antique Chevy meet. I noticed that most convertibles were arriving with the top up even though it was ideal convertible weather. One StingRay arrived with the top down. It was the nicest one there and in mint condition. I asked the owner if he used it or just showed it. He said he had bought it to use and had put 1,500 miles on it the previous two weeks. He said nothing could break that he could not get fixed. It was the nicest one there. I thought who there probably enjoyed their car the most. | ||
| Mr. Doody (Doody)
Member Username: Doody Post Number: 355 Registered: 11-2001 |
hear hear. they are cars. work on the basic assumption that they will depreciate. behave accordingly. life is awfully short. enjoy your cars. if you have money to invest and you're thinking about cars, you have a screw loose :-). doody! | ||
| 89TCab (Jmg)
Member Username: Jmg Post Number: 252 Registered: 9-2001 |
It would only be "Reaganomics" if we expected the Ferrari to trickle-down values to the other rides in the garage. I tend to believe the reliability of my Mondial scares my wifes Jag and it ends up in the shop a lot more. :-) | ||
| bruce wellington (Bws88tr)
Member Username: Bws88tr Post Number: 644 Registered: 4-2002 |
hey bruno whats your other car?? what are you bringing to the show, c ya there.. bruce | ||
| Paul (Pcelenta)
Junior Member Username: Pcelenta Post Number: 52 Registered: 7-2002 |
"gold chain crowd" that's great...I haven't heard that one since the 80's...Bruno, don't think they are speculators just think they're stuck on "Reaganomics" | ||
| Horsefly (Arlie)
Junior Member Username: Arlie Post Number: 124 Registered: 5-2002 |
I agree with Bruno, even though I have no Ferrari. I see ALOT of talk about how much some F-car is going to bring when it is resold. It's almost like the resale value is of PARAMOUNT IMPORTANCE. I have several Corvettes myself, and I bought them because I like them. I couldn't care less what their resale value is because I am a true-blue car enthusiast, not an investor. Do these "resale value" enthusiasts worry as much about how much their TV, refrigerator, computer, or stereo will "resale" for? Will your 3 piece Italian suit "resale" for anywhere near the cost that you paid for it? Deep down inside, it's almost like some of the high dollar Ferrari guys are GRAVELY concerned that their high dollar ride might turn out to be just that,...a ride, and NOT a gold plated investment. | ||
| Bruno (Originalsinner)
Member Username: Originalsinner Post Number: 333 Registered: 5-2002 |
nobody really. I rarely show my cars and do not really care what they are worth. I dont know why it is the biggest topic anymore. Drive your cars. This Saturday will be the first car show I entered in 10 years. And I am only bringing my daily driver. | ||
| martin J weiner,M.D. (Mw360)
Member Username: Mw360 Post Number: 507 Registered: 5-2001 |
I agree with you ,Bruno but you do sound a little bit defensive.Who has been breaking your chops? | ||
| Bruno (Originalsinner)
Member Username: Originalsinner Post Number: 331 Registered: 5-2002 |
I bought my Ferari's for what I wanted to pay. Regardless of what anyone else thought. I did not buy them to sell or make money on. I consider the money spent. I am not selling any of them. Are you a Ferrari guy or a speculator (gold chain crowd)? I could not imagine going to bed tonight without a Ferrari in the garage. |