Normal career, and to own an F-car

I'm a working stiff with a 308 and a 928 in the garage, and last week I had lunch with a guy driving a recently restored 250SWB. Anyone can own a Ferrari if they take the time and are willing to do the work to get there, and you'll find the guys with the big $$$ cars are just guys like the rest of us. Your co-workers will be both excited and jealous, who cares. My boss is a big BMW guy who thinks my Ferrari is very cool and keeps bugging me to drive it. If you're concerned about what others will think, don't tell them. Or tell them and don't give a ****, up to you. I take the latter path.

 

What he said.

Also, automotively speaking, I see plenty of people dropping $80K-$100K+ on new Mercedes, modern Porsches, etc. You could probably buy a 575M in that range right now, a 512 BBi isn't that much more expensive.

Also, if you're financially smart about it, you won't queue up to be the guy who drops $500K on, for example, a 599, just to be the first to have one. Currently, perfect ones are selling for half of that, and they will continue to fall even as owners leave them parked under their covers.

Good point. I forgot about the Exotic Career clause on the purchase agreement.

I work counterespionage on Saturday afternoons to comply. It's a good change from my grocery bagging during the week.

And what he said. I really enjoyed owning and driving mine, but they are just cars that are expensive (either slightly more or appreciably more) to maintain than other makes.

Just don't spend yourself dry buying the car.

 

Well, as long as we have permission.

 

Well, why would you care if others frown upon it?? Ferrari or no, the type of person you are talking about will find something to moan about anyway. If you have the dough and won't have to worry about sacrificing really important things, go for it!! As far as you know, you only go around once. I, for one, couldn't go around once without owning a Ferrari(s), and if someone has an issue with that, they can bite me.

 

There are a lot of constructive replies here, many of which I agree with, so I won't repeat them. I will add that you should join or attend a local Ferrari owner's group, and talk with the owners. You will find, like I did, that the vast majority are "regular" people (other than their affliction with cars!) and it's mostly a matter of choosing to spend their money on their Ferraris (as opposed to other things like boat, expensive vacations, etc. so yes, life is about choices).

As for the separate question of others' reactions, I will add only that while it would be nice that it doesn't matter (for whatever reason, e.g., it's your life, etc.), it can and does matter IF you are in a job/career/profession where the perception of others for business purposes can be negatively affected by what you drive. You are correct to be sensitive to that issue, and asking Ferrari owners is a rational thing to do.

If you are in a business that depends on clients, they can have 180 degree different reactions; some will think you are the "best" because you can afford a Ferrari, and others think you must be ripping them off. Since you can't know in advance which way they will react (and can never know if they are telling you the truth), many people (like me) have a different daily driver and don't let on they own a Ferrari. They don't necessarily "hide" the car; they just don't volunteer the fact of ownership and don't drive it to client meetings. Others simply throw caution to the wind and do just fine (maybe better) by using their cars as DD; probably something like Darwinian selection at work, with them getting only clients that understand and/or look favorably.

If you are in a job/profession where mostly people come to you regardless of what you drive (I would think an RN is in that category. When is the last time anyone cared what kind of car their RN drives?), then it's only a matter of your finances and choices of what to spend your money on. Me? I have a "normal" career. I've been extraordinarily successful at what I do, and while I've always been a car fanatic, it's only now, in the latter part of my life that due to choices on other things, that I've chosen to get a Ferrari. Looking back, I probably could have afforded one way earlier, but I chose to buy a relatively nice, sporty car that I could drive most of the time rather than get something more pedestrian and a Ferrari for weekends.

I'll also note that it's a great time to get a Ferrari, better today than many years ago. Why? The economy is down, and speculators who didn't care about Ferraris as cars so much as "investments" are out of the market, so these cars are more affordable now. Also, ever since the 308 series, there are now a decent number of more "affordable" Ferraris out there that can be maintained and driven by "normal" people. Before that (and this is my perception, perhaps not reality) you were looking at a much smaller number of really exotic, more tempermental cars.

 

I think this is a thread about goals, budgeting, and motivation. With the right mix of
those, YES you too can own a Ferrari.

That is the message I give my kids and others who ask. A pedestrian career done well
can be lucrative enough to afford many nice things. Ferraris inlcuded. I have a bit of a
bias in that I tell my kids to study their math skills as that is the easiest way to make the
little bit of extra economic margin to afford a Ferrari.

Depending upon ones industry and career path in it there is value in maintaining a degree
of discrestion about bonus check levels and the like.

If talking about Ferraris outside those in the know, I usually illustrate the story with
the income level curves going up as one matures and decpreciation price curves
generally going down for at least some period of time. Thus it is a matter of timing
and long term planning. In another thread there is a quote about the majority of
people living paycheck to paycheck. My belief is that a Ferrari owner at the same
income level as a non-Ferrari owner is much more likely to practice financial prudency
in much of what they do.

-sc

 

LMAO..

Glass!!! You On The Sauce Again???? LOL

 

Nice post. Welcome to my ignore list.

 

these cars have a mystic and many people think they are only for "people with money". I thought like this once.

when I bought mi Porsche, it was probably the same price as a 246 at that time. Hummmm.... life with regards due to mis information

 

I fit into the average means. Corporate jobs since day one, never made more than 75K in any given year. However I've always been aflicted with the motorized transport bug. I've had a couple motorcycles, almost bought a Unimog, lots of old trucks. I got rid of a 1962 Ford Fairlane to make room for my Mondial. All of my friends growing up were into cars as well, I think I'm the last holdout though as I'm the only one that didn't have children. When I purchased the Mondial and told a few friends my favorite response was "how absurd!" with a big smile and encouragement. It is a pinnacle of vehicle ownership even if the dollars don't make it so. I've gotten over what it is and in my head a guy who keeps an 80's alfa going has more committment than I do. He is the man who has a passion that leads him through valleys of pain. I guess where I'm going is why do you want it? If you are a car guy and ache to own one of these for the experience of driving one, connecting with the history, etc, then you'll be supported. If you just want a really nice car with perfomance and handling, a BMW is much more invisible and they are great to drive. The Ferraris that you and I can afford are old. They break. They have lots of known pattern failures. Although contrary to what one here thought, 20K is a lot of money for a working guy to come up with, especially if it is to be in a lump sum, but it isn't the money that makes the cheaper ones go, it is the level of committment. I purchased mine a year ago at 38. Before that point like I said a series of random cars, you can check out my profile, I've had some odd cars. I love them all. And I don't plan to commit suicide because I shouldn't be able to afford this car or someone here considers me broke or pathetic.

I guess my suggestion is that if you love Italian iron (and aluminum) but are younger or of lesser means, get yourself a nice Alfa Sedan. It will be just as troublesome as a Ferrari and they are rewarding to drive. That will tell you if you want to be a Ferrari owner.

 

I'm much more of a lurker here than a poster, but I had to respond to this.

That may be the most elitist thing I've seen on this board in the 3+ years I've been subscribed.

So, anyone who doesn't have a spare $20,000 available to buy a toy should consider their life not worth living? I consider myself pretty lucky that I have been able to own a Ferrari (a lowly 2Vi 308 though it may be), but I'm not sure it has any bearing on my value as a human being.

Paul

 

My wife believes I take that honor and suggests I work much harder and smarter.

-sc

 

I think anyone who does not like to read these affordability threads should not read them. Its not like you are at a dinner party and have to listen to whomever is presiding over the room.

I can understand the attraction for a car guy. Most Ferrari's are thrilling to own and drive if you like cars the least bit. In life, a thrill or pleasure like that is hard to come by.

Still, if you are of modest means I opine that the potential pain caused in the rest of your life can outweigh the pleasure of ownership. They are easy to buy and difficult to sell. you should never expect that you can get your cash out if you want to.

Almost by definition, it has to be a second car for you. Lots of families have two cars, but owning an F-car in the Northeast really requires that my wife have a car and that I have two cars. Even without a wife, your individually owning two cars means owning two depreciating, cash consuming posessions.


Cost of ownership is high in general. The F-car might not cost much more than a Porsche, but there are lots of parts on the F-car that are stupid expensive. Mine needed a convertable top hinge at about two grand. A Porsche part can be alot also. I think a business that rents exotics said the 360 type F-car costs $1 mile to run, before fuell, insurance, depreciation.

The great thing about value in a free economy is you set your own values. If the hedon units you get from firing up the Ferrari and sitting behind the wheel outweigh the economies necessary to do it, you can go for it. No one else lives in your head and has the values that you do. I would just avoid minimizing the costs by not considering what the real experience may be like. For some people writing a check for a two thousand dollar part is an annoyance, for others it requires giving something else up.

 

Thank you, I appreciate that.

 

Trust me I am far from "elitist". But really pleEEEEEase give me a break. If you are a car guy(like me), and you have an ordinary job(like me), and you can't find out what certain Ferraris cost(not like me), and figure out a way, because you are soooooooo pasionate about owning one(like me), to be able to buy a Mondial or 308(like me), then yes, you might as well just hang yourself. You will also probably never figure out how to own a home or care for your family either. Would you please also put me on ignore?

 

I've been a member of fchat for a long time and ferrarilist back to at least 1997, and only recently became an actual owner. These affordability threads come along a lot and I have participated in them in the past, and they are certainly understandable. LOTS of people aspire to ownership and it's only natural to wonder what the actual experience is like, how you "made it" and how it is on a day to day basis (not real different from being a non-owner, but yeah it's fun ). So it's not a big deal and hopefully some will learn good information and, like me, become able to join the fold at some point. If you have a problem with these threads, don't post in them.

 

Don't screw with me Stackhouse, you stole my girlfriend Pebbles, and I don't forget things like that easily.

 

Lighten up Paul....Glassman can be serious or funny as heck, but he means no harm here. Read some of his older posts and you will understand..he is a "regular' guy for sure.

I was once told that f- car ownerwship is the same as purchasing a boat. It is for pleasure and does have some expenses of ownership. That said, even I own one, and without a doubt, I AM the poorest mem ber of this "club". Just go get one, if it isn't for you, you can sell it.

 

I did get one, as I posted earlier, a 308 GTSi, and I consider myself fortunate to have been able to accomplish one of my childhood dreams. I knew going in what the costs would be, and I'm willing and able to accept them. That said, I don't feel that the fact that I'm able to do so makes me any better than someone else who might love to own a Ferrari, but whose financial situation makes it unrealistic.

My contention is with the idea that anyone who can't afford to spend $20K+ on a material object (never mind the maintenance costs) should "hang themselves"; particularly in this economic climate.

Paul

 

Your initial statement included none of the qualifiers here, it simply stated that anyone who couldn't afford to spend 20 grand on a Ferrari if they wanted to should kill themselves.

I'm sure most of us know people who work, raise families, and have productive, satisfying lives who couldn't write a check for $20,000 if their lives depended on it, much less to buy something that the vast majority of us would agree is an indulgence, car guy or not.

Owning a Ferrari makes my life a bit better, and I enjoy the experience fully, but if it all fell down tomorrow and I had to let it go, I'm not going to start looking for a tree to swing from.

Paul

 

Oh yes those damn qualifiers. I was responding to the OP who states that he is an RN ( which means he makes at least as much money as me) and if that is so, and he is a Ferrari fanatic, and he can't stand not owning a Ferrari, and you can buy a nice Ferrari for not a lot of money,I would suggest either buying a Ferrari, or a home, or getting married, or as a last resort hang yourself out in the back yard.
As for the economy my business is good for the next two years. How yours looking?

 

And what they say about boat ownership is that the best two days of boat ownership are the day you buy it and the day you sell it!

 

no offense to the older gentlemen here, but that's why I've been busting my ass for 7 years on various start ups (last one was close to a liquidity event, but 08/09 wasn't the best year to raise money from investors LOL) I want to be young AND affluent. Not old, sick and feeble driving an F car or other nice car. Can't make love to my wife/girlfreinds without pills...no thanks.

There are people who are worth billions and they're quite advanced in years, I can promise you they'd give it all to be 25 again and see their wives in all their youthful glory. Anyone with a half decent job and some common sense can have money when they're 65+ but can you still enjoy it half as much as a young wipper snapper?

 

When my wife and I got married, a friend drove us to the church in her Jaguar Vanden Plas. She bought it at 27 because she didn't want to wait until she was ugly to have a nice car. Gotta love the logic.

 

A friend of mine has an airplane and we were comparing notes, Ferrari vs. Beechcraft. Similar stories and one thing we could definitely agree on is we were both better off than boat owners!