| Author | Message | ||
| DES (Sickspeed)
Senior Member Username: Sickspeed Post Number: 5689 Registered: 8-2002 |
LMAO, Ralph...! You must be a smoker... i know it will happen, i just need to be patient. Some very wonderful people here have splashed the joys of Ferrari on me and i'm wet with the patient anticipation of ownership, surely never to dry.
Holy crap...! and i thought i had problems...! Steve, i know where you're coming from; i haven't exactly made all the right decisions but i acknowledge my responsibility (although i can't say i did years ago, when it counted) and i have some regrets, but it's all in the mix. Aside from all of that, i wouldn't feel comfortable owning a Ferrari right now; what if it breaks down...? Then i have no money to get it fixed... i'd rather wait to be an owner when i'm in the financial position to take care of and be prepared for any contingencies... i can't justify a toy right now when i have other obligations and i'd prefer to wait until i can fully enjoy every aspect of one. Steve, good luck; i'll still be posting in 2007 (if Rob hasn't deleted my account for breach of bandwidth per user) and i'll be waiting to see pictures and read stories...  | ||
| Dave Quick (Davequick)
New member Username: Davequick Post Number: 5 Registered: 5-2003 |
On the topic of airbags, abs, etc. vs. none for insurance... a 1987 Ferrari 328GTS and a 1995 Ferrari 456GT were $5.73 difference (456 is higher by the $5.73) in the 6 month premium on the quote I got from my insurer. Well, the factors in favor of the 456... 8 years newer (better/improved safety standards)... Berlinetta vs. the targa... 4 seats instead of 2 (different risk profile)... airbags... ABS. So that we are all talking/thinking rationally this is a good condition 328 ($35-$40k) and 456 ($70k-$75k) with same insurer (Geico - yes i know, many people consider them evil but they have the best rates and have taken care of me through 8 cars now) for the same deductible, same coverages. Just amused me, and either it amuses you or I just stole 60 seconds of your life. -dq | ||
| Ralph Koslin (Ralfabco)
Member Username: Ralfabco Post Number: 657 Registered: 3-2002 |
What about a GT 4 with a salvage title ? Would that work ? LOL ? Everyone pitch in and get a fund going. Lets aim for beyond a GT 4. Perhaps a red racy 308 with a Tubi (no CATS) ? I pledge $ 100.00 and a carton of Cigarettes. DES: We all love you. (Including the Bird). Remember Yoda ~ "Patience." Seriously DES: It WILL happen !!!!!!!!! | ||
| Steven Duke (Sduke)
New member Username: Sduke Post Number: 23 Registered: 3-2003 |
I am sure my story is not original but everyone's life plays out based on the choices they make as they pass through this mortal coil. I am 46 and I have been fatally afflicted with Ferrari Fever since I took a ride in a 250, down to the San Diego beach, with the neighbor of my aunt. The sound, the smell, the way everyone stopped and looked when we cruised the parking lot at the beach. I truly believed this was the greatest car ever created. As a 10 year old boy, the 250 was a gift from god. Fast forward 36 years. Divorced, raising two teenage daughters alone, recovering from financial ruin brought on by said ex-wife. Twenty five years of putting off the Ferrari because "responsibility" demands college funds, bigger houses, better vacations, clothing, food and everything else that a responsible person must do. All this set in motion by the choices I made. No fault but my own. I acknowledge my responsibility and have no regrets. My girls are fantastic, the ex is gone, I am out of debt for the first time in 25 years. My youngest starts college in 2004. The oldest graduates in 2006. 2007----I WILL OWN A FERRARI!! No excuses. No lame assed reasons. It will happen. I fully believe the sacrifice will make the Ferrari even sweeter. The only dark cloud I see on my horizon is the laugh lines I will get from driving MY FERRARI! steve | ||
| Mr. Doody (Doody)
Intermediate Member Username: Doody Post Number: 1570 Registered: 11-2001 |
I assume the maintenance and repairs are the lessee's responsibility? What if the engine needs a rebuild? Can you turn the car in like that? that's a fair question, TC. the interesting thing is that "normal wear and tear" for a ferrari INCLUDES an engine-out service at 30K miles. so if you drive the car from 11K to 30K miles and turn it in on the lease with the major due, then maybe that's "normal wear and tear"? i'm sure it isn't, but it's amusing to consider :-) doody. | ||
| DES (Sickspeed)
Senior Member Username: Sickspeed Post Number: 5683 Registered: 8-2002 |
Brian, definitely no offense taken, i totally hear what you're saying... i'm not saying i'll never be an owner, it's just not gonna happen right now... i don't think i'm being pessimistic, just honest... i'm slowly making it happen, but like i said, it's gonna be 'slow'... i get my cigarettes for less than what people were paying 5 years ago; lately, i've been really pinching every penny so i can get to New Orleans; i'll probably continue penny-pinching once i get back, too... My trip out to California (and this past weekend in NJ) really had a profound effect on me and, for the first time in my life, i'm actually making plans for the future while trying to make them work, right now... A new concept to me, but not too difficult to grasp; i'll get there, dude, definitely, just not right away... | ||
| Brian W (Jetx)
Junior Member Username: Jetx Post Number: 83 Registered: 6-2003 |
DES, I mean this in the best possible way, so don't take to much offense, but stop being so pessimistic - with that attitude you won't ever own a Ferrari I swear, if I had your attitude, I'd never have owned 2 Ferrari's and an NSX by now (31). Seriously, we all don't walk out of high school and start netting crap loads of money. If you really are serious about wanting and owning a Ferrari, you start finding ways to get one. I did, and it paid off. You can start your Ferrari fund by taking money every day you'd buy a pack of cigarettes and putting it in a bank account. Given what tobacco costs these days, you'd probably have a nice hefty down payment in no time at all. At 18 I made $11k a year, and I was *always* trying to find a way to save and buy a car. It took 6 years of waiting and saving, but it paid off. I called insurance companies all the time finding out what it'd cost for me to insure these cars, and some of them (308GT4) turned out to be LESS than what I was driving at the time. And at your age I was lucky to get a ride in a Ferrari. You got to DRIVE a Ferrari. If that didn't jump start you into finding and working most means to obtain a car, then, well, don't know what to tell you. I don't know your entire situation, nor am I inquiring, but if you want it bad enough, you'll find a way to make it happen. Make it happen DES!!! | ||
| DES (Sickspeed)
Senior Member Username: Sickspeed Post Number: 5681 Registered: 8-2002 |
LOL, Brian, i'm forgetting here that $18,000 is just a few thou under what i netted last year... It'd be a senseless phone call... If my math is right, it comes out to be something like 98.8% of what i took home last year... LOL... Ferrari ownership is not a club i'll be joining any time soon... | ||
| Rijk Rietveld (Rijk365gtb4)
Member Username: Rijk365gtb4 Post Number: 274 Registered: 1-2002 |
I pay $1800 per year for full insurance on the Daytona, but then I'm over 25 Rijk | ||
| Brian W (Jetx)
Junior Member Username: Jetx Post Number: 82 Registered: 6-2003 |
>>Brian, being an older car will just make it worse; no air bags, no alarm, etc. << Don't be so pessimistic. An old car is an old car, and they'll look at the value. Having alarms and air bags isn't the end-all-be-all with insurance companies. Just call and ask...it won't hurt. | ||
| DES (Sickspeed)
Senior Member Username: Sickspeed Post Number: 5679 Registered: 8-2002 |
Brian, being an older car will just make it worse; no air bags, no alarm, etc. Mark, i'm in NY and they're pretty nazi-ish here, too... TC, i have trouble doing things in moderation - like eating, driving fast, drinking, working, etc. The day i get a sports car, though, i'll follow up with a V1, for sure... | ||
| TC (Houston) (Tec)
Junior Member Username: Tec Post Number: 223 Registered: 2-2002 |
DES, Believe it or not you can still enjoy a sports car on the public roads without getting into trouble too often. You just need to be reasonably smart and safe about it and invest in some good technology. | ||
| Mark (Study)
Member Username: Study Post Number: 646 Registered: 10-2001 |
Des are you in NJ I have heard they are the Nazi's of crazy car insurance prices. What's up with that State? | ||
| Brian W (Jetx)
Junior Member Username: Jetx Post Number: 81 Registered: 6-2003 |
That's just insane. Then again, when I was 18-19, my insurance was $3200, so I guess I see where you are coming from. Seriously, call up your company, and ask them what insurance would be on a GT4 - betcha it's not as bad as you think. Remember, a GT4 Ferrari or not is a 25+ year old car | ||
| DES (Sickspeed)
Senior Member Username: Sickspeed Post Number: 5678 Registered: 8-2002 |
Brian, alas, it's true... Liability only on my '94 Saturn is $4800/year... If they see anything with 'Ferrari' and my name on the same paper, they'll have a field day; stock will go up, the economy might even improve, etc. If i had a Ferrari, i'd have to insure it fully, including theft, glass, etc. i live in a relatively nice area, but even some nice-area people can still be pricks... Full insurance on a sports car would bankrupt me even if i made twice what i'm making now... Nobody's fault but my own; haven't had a ticket in a while, now, though; need to take defensive driving and my rates will (hopefully) go down once i'm 25... ...ah, but it's a vicious cycle; i can guarantee that as soon as i ever get a Ferrari, the resulting swarm of speeding tickets will ensure higher premiums, once again... Sigh... i need to move to Germany. | ||
| Brian W (Jetx)
Junior Member Username: Jetx Post Number: 80 Registered: 6-2003 |
$800-$1000 for insurance a month DES? Or did you mean a year. There's no way a 308GT4 would run you that high. | ||
| Taek-Ho Kwon (Stickanddice)
Intermediate Member Username: Stickanddice Post Number: 1954 Registered: 11-2002 |
On the subject... This is way too steep. Just look at Rijk's numbers. Look at the car you get instead too! Given these figures you can lease a much pricier new car for the same amount. AND, as Doody mentioned get all the warranty, and in some cases, maintenance taken care of. Free. Cheers | ||
| DES (Sickspeed)
Senior Member Username: Sickspeed Post Number: 5676 Registered: 8-2002 |
LMAO, Taek, we were just talking about Eric Estrada this weekend...! Too funny...! | ||
| Taek-Ho Kwon (Stickanddice)
Intermediate Member Username: Stickanddice Post Number: 1953 Registered: 11-2002 |
DES, Too late for me...Mine's already gone. Kind of like "Went in 60 Seconds." Damn you, Eric Estrada and your friggin' colleagues! Cheers | ||
| RockStar (Remix)
Junior Member Username: Remix Post Number: 70 Registered: 3-2003 |
Oh yeah, color combo, please. REMIX | ||
| RockStar (Remix)
Junior Member Username: Remix Post Number: 69 Registered: 3-2003 |
Which major service has been done? The 15k I'm guessing. What does a 15k service ential anyway? Just a tad too high but I think I could get it insured pretty easily under my homeowners policy. The buyout isn't bad, either assuming 512TR prices remain fairly constant for the next 24 months. But that's anyone's guess. REMIX | ||
| TC (Houston) (Tec)
Junior Member Username: Tec Post Number: 221 Registered: 2-2002 |
How do these work? I assume the maintenance and repairs are the lessee's responsibility? What if the engine needs a rebuild? Can you turn the car in like that? | ||
| DES (Sickspeed)
Senior Member Username: Sickspeed Post Number: 5675 Registered: 8-2002 |
KCCK - ROTFLMAO...! It'd be cheaper to start a Ferrari fund - 30k service and all...! Tillman, i was replying in jest - even $350 is too much; i'd need to insure it (another $800-$1000) a month and there it is - i wouldn't even have enough left over for rent... Forget about food, dry cleaning, cigarettes and so on... That's not to mention gas, too...! i'd love to tool around in a Diablo... Holy crap, you guys could take bets on how long it would be from the inception of the lease to the time when my license is officially revoked. | ||
| Rijk Rietveld (Rijk365gtb4)
Member Username: Rijk365gtb4 Post Number: 273 Registered: 1-2002 |
I like the lease concept. I find the $1550 for a 512TR a little high though. I pay $1750 for my Daytona and have a residual of $70.000. Rijk | ||
| Ron (Easy_rider)
Member Username: Easy_rider Post Number: 661 Registered: 12-2002 |
This really sounds like a pretty good deal. $1550 x 24 months = $37,200. Plus the $50,000 residual equals payments of $87,200. That would be under the cash purchase price of most 512TR's. In effect you would be financing it for 2 years without interest and would not have to pay the sales tax up front. If I wasn't so far along in the purchase of a different 512TR I would strongly consider it. | ||
| Tillman Strahan (Tillman)
Member Username: Tillman Post Number: 865 Registered: 11-2001 |
DES, You could always get a 308GT4 for 18K: financed at 60 months @6% it's somewhere around $350/mo How many cartons of smokes is that? Just trying to help out | ||
| loretta, anthony and company (Ranosportscarco)
New member Username: Ranosportscarco Post Number: 23 Registered: 3-2003 |
Des, The nice thing about assuming a lease is that the original guy put money down for you. | ||
| KCCK (Kenneth)
Member Username: Kenneth Post Number: 581 Registered: 10-2002 |
Des, We might chip in for a fund to finance your eating, but as to smoking -- THE SOONER YOU CUT IT OFF THE BETTER!! | ||
| DES (Sickspeed)
Senior Member Username: Sickspeed Post Number: 5672 Registered: 8-2002 |
If that's without any money down and i could find someone to insure it for me (and pay those insurance payments) i could make those payments; of course, i would be homeless and would have to stop eating and smoking COMPLETELY, but it's for a 512TR... ...it's worth it. | ||
| loretta, anthony and company (Ranosportscarco)
New member Username: Ranosportscarco Post Number: 22 Registered: 3-2003 |
I am going to respond to each interested party individually, but these are some of the details on the TR. The lease on the Diablo has been assumed. The Ferrari is a 1992 512TR. The owner is a friend and we are just helping him find someone to assume the lease. The car is in his possession (NYC area)and when you see the car you will agree that he is a fanatic about cars. The time remaining on the lease is 24 months and the monthly payment is $1550. Should you wish to keep the car at the end it will cost you $50,000. If anyone is seriously considering this car contact us and we put you in touch with the owner. Thanks Anthony | ||
| RockStar (Remix)
Junior Member Username: Remix Post Number: 68 Registered: 3-2003 |
Hmmmm...this could be good or bad. Okay, I'll bite. How much? I agree with Jeff, this would only make sense if the buyout was ultra low. It's listed for 85k on their site - 11k miles with "major service" completed. Not too bad. This wasn't a forced repo, was it? REMIX | ||
| Henryk (Henryk)
Intermediate Member Username: Henryk Post Number: 1059 Registered: 8-2001 |
Jeff: How can the payments be fully decuctible? This is REALLY looked at by the IRS. For one, you cannot deduct the mileage to and from work. Hence, only a traveling salesman can benefit......but then he will put more than the alloted 12K miles per year. Just doesn't make any sense. I think a lease of a used car is just a "trick" by the industry to steal your money. And the carrot is that "you can deduct the payments".........that is pure Bull S**t!!!!!!!! | ||
| Jeff (Jeff_m)
Junior Member Username: Jeff_m Post Number: 206 Registered: 9-2002 |
The only lease that makes sense to me on exotic out of warranty cars is a dollar buy out lease. So basically it is a purchase but the payments can be fully deducted. | ||
| Johnny (Up2nogd)
Junior Member Username: Up2nogd Post Number: 169 Registered: 8-2002 |
And adding to Doody's reply - color combination and condition? Major services performed or needed? Johnny | ||
| Mr. Doody (Doody)
Intermediate Member Username: Doody Post Number: 1566 Registered: 11-2001 |
what's the payout remaining on the lease? how many months? are you offering any sort of all-inclusive warranty? for the life of me i've never understood leasing out-of-warranty, expensive-to-maintain cars. it doesn't make a lick of sense. hence my curiosity. what's the price to buy? condition, etc? doody. | ||
| loretta, anthony and company (Ranosportscarco)
New member Username: Ranosportscarco Post Number: 21 Registered: 3-2003 |
If anyone is interested in assuming a lease on a 1992 512TR please let us know and we will give you all the details. Just think, no down payment. We also have a 99 Diablo SV for lease assumption. Thanks Anthony 718-845-1679 |