Guys please help me feel like I did the right thing here. I had my perfect 360 picked out, I absolutely loved the car, happy with the price, and I was ready to buy. However I was up at night worried about some of the cost associated with it, I was worried about a major mechanical happening. In the end I decided to pass on the car, and will try again in the spring when my finances should be in a little better order. It was the hardest thing I have ever had to do, and I hope that I made the right decision. Next spring things should be a little more liquid for me, and I should be more at ease with the purchase. In the meantime I will be looking at pictures of all your cars and drooling.
Definitely the right thing to do. It's better to wait to get a car you can afford to fix than have that one sitting around broken.
No rush in this environment. In March of 2010 the car would be another year older and incur seven more months of depreciation. Thats without driving it during the winter.
If your instincts told you to back out, then it was definitely the right thing to do. Without a doubt you will need a reserve in the bank for service if needed, so better to wait until you have that cash on hand.
I feel you did the right thing.... There will ALWAYS be a 360 available The spring is the beginning of the driving season. Winter is jsut about here, esp Chicago.. Maybe the cost will be down a bit more by then too....
Exactly. Let someone else store it. I also agree with the other posts in that you don't want to get into a used Ferrari not knowing if you can afford it. BUT -- make sure you don't fall into the trap of never buying your dream car because something could go wrong someday. You'll end up in a Lexus, Corvette or maybe a modern Porsche. Nice cars, but at some point you'll realize you sold yourself short. Life is short, etc. When I was shopping for mine, I had a call with Steve Barney in NC, who has been around Ferraris -- and first time Ferrari buyers -- since forever, maybe longer. I told Steve I was pretty sure the 328 he had in stock was exactly what I would have ordered, but he knew I had come out of a Porsche 993 and was hesitating. It's easier to shop for Ferraris than to commit and have one in your garage. Steve basically said his 328 was a good car, and the Porsche was a good car, but ultimately they're different, and you either cross the line to an exotic or play it safe. If you can pay cash for the Ferrari, have a daily driver, have your mortgage under control, have a good income and have $10K cash (not college money, not food money, not LOC, etc.) available immediately to cover contingencies, do it.
Nothing worse then those sleepless nights stressing about a purchase. Not worth it. The right car will find you at some point. P.S. - Try to hammer a better deal so that you could bail easily if need be and break even. That way you don' have to wait
If your gut said "NO," you did the right thing. Relax, work it out and try again later. We are Proud of you. You will make a GREAT OWNER when the time is right.
Don't even think about buying a ferrari if you wont laugh about a $10K+ repair bill... Doesn't mean the money should be a joke, but you should view it as part of the absurdity that is FCar ownership Worrying about repairs will ruin your experience.
Exactly, no worse than owning a boat and most people don't have a problem with that. Seriously, I don't think I would laugh about a 10k repair bill but I see that happening in the form of maintenance (if nothing else) in the future.
I think that you did the right thing for now. The last thing you want is to have your dream car become ugly to you because it represents a financial stress to your life. You want to enjoy it for how it makes you feel. But I will say that it does take a certain size balls to buy a Ferrari. By this I mean that not everyone can go forward with buying a car that has absolutely no practical purpose. You do not get one for a dependable car for work. You do not get one to deliver news papers or go to the grocery store or because it gets great gas mileage. It is a car that stirs your sole and fulfills a lifes dream just by sitting in your garage. It is a car that brings back the lost art of "taking a drive". The feel of the wheel in your hands and the smell of the leather takes you away to a place that other people will never understand. Whether it is a 308 or an Enzo, you belong to a rare Brotherhood that many long for but few take the step. Are they expensive to own and maintain? Yes, but that is the cost of admission. Will there be a huge repair bill every time you go for a drive? No, but anything is possible at any time. Getting into a Ferrari requires you to take a certain level of risk. It is not for the faint of heart. You must be smart in your purchase. Pay a little more up front to save more down the road. Buying a Ferrari is not the time to get cheap. Do your homework. Make sure the new love of your life has been well cared for and maintained. If you are waiting for a foolproof Ferrari to come along then you will never own one. So, in the end, you must not only need to be able to afford it without having nightmares, you must have balls to take the risk of the unknown. Good luck to you! When it happens, it will be glorious.
I did the same on a 355 planned purchase little while ago, reason being that a) I wasn't 100% sure of its reliability because of many mixed owner opinions (I don't think my wallet's fat enough yet to manage unforseen costs of Ferrari scale) and b) My dads business almost went down since end of last year and he needed some cash flow to keep it alive and he's priority second to none. You did the right thing. But we'll be back, hopefully stronger
yep, winter is coming, and the market is way down..... perfect time for me to buy more cars and drive the piss out of them all winter, when its nice and cool and the air is much more dense. exotics run better in the winter months here , carb cars especially. i feel bad for all you Yankee's up there with the snow coming... down South we drive MORE in the the winter time. good call to wait on the 360, perhaps you can find the exact car you want , as its very important to not compromise.
Which is why you absolutely positively did the right thing by passing. That post was good counsel for a lot of things. A dream home, a sailboat, a Ferrari. If it's going to be a source of stress and anxiety rather joy and satisfaction, hold up. Spring will be better, man.
If deciding to put off a Ferrari purchase until the spring was the hardest thing you've ever had to do, you should consider yourself pretty lucky.
Dear Ferraristi, I sort of take a different view. Was it really really the car you wanted? ....not just the model but the price, condition, colors, maintenance records? Do you have the money to buy the car? Is your business or job safe? Is your wife happy with you? Then, when will be the right time? There will always be a reason NOT to do something. Then all of a sudden life passes you by. I assume all of the above is in good order as you wouldn't even be considering a purchase like this in this economy. Something will always break, a pipe will burst, the house AC will stop working etc etc.... Yes, your driving season is winding down. So all those guy selling their cars will magically drop their prices ( if not due to economic reasons ) or just wait it out till spring. Sure, the car will depreciate till spring. It will also depreciate just after you buy it and still depreciate one year after you own it. Fcars are not an investment. They're only an investment for your local dealer...you pay them. Just weigh out real economic conserns...if you have them or if it's just cold feet. Good luck ! Shamile Freeze...Miami Vice!
We ALL have problems...look at the Sultan of Brunai. He has to buy the next Ferrari whether he wants to or not.