Anyone want to talk me out of it?

HI all. I will be retired in a year. I always wanted a Ferrari, but....
1) I cant afford a new one.
2) I live in a townhouse in Florida with no garage, hence the car will be outside.
3) I want a newer used car such as a 360 modena.
4) Worried about keeping it long term for service and parts.

Am I wrong to buy one? -Bob.

 

but....

1) You could be dead in a day, week, month, year;
2) You always wanted one;

[/debate]

Live life and enjoy. Push comes to shove, the car will still have resale value (assuming you care for it and if you total it there is insurance). So what is your downside? Maybe, $20K if you keep it for 3-4yrs and put 10K miles on it. Is your enjoyment and fulfillment of always wanting one worth $20K to you amortized over 3-4yrs?

If you get a well sorted 360 that has a documented history and has been cared for, your R&M bills should be minimal (barring bad luck).

 

Only YOU can decide that. Do what you want - sounds to me like you want
a Ferrari. So buy one.



Jedi

 

Buy a good one and have fun. If you think its a long term liability then keep it a year, resell it, and cross it off your list.

If you can afford the car and want one, what's the damage? Enjoy your life. It's yours.

 

Asking that question here is a little like heading down to your local pub and asking your buddies to talk you out of having a pint, lol.

The one thing on your list that would give me cause for concern is the lack of a garage. The weather and hot sun will be brutal on the exterior and interior, not to mention I would be hesitant to leave the car outside overnight. But hey, you only live once!

 

read up on maintenance costs.

 

I would suggest you look and see if there is a garage you can rent by the month ;-)

 

Buy one, as you can always sell it again.

 

Agreed. I cannot count how many brand new airplanes I have seen ruined because the owner refused to pay for hanger space and tied them down outside.

 

I think we had a similar post a few weeks ago.

If you have no garage, I think it's a bad idea. Sun, vandalism, thieves, scratches from undergarments and heels, etc.

In terms of service and parts costs, the newer ones seem to be more expensive. (A 360 headlamp cover is several thousand dollars, IIRC.) But they are easier to drive, and faster.

Well, we do need to approve it here. All used Ferrari purchases have to be reviewed by a bunch of anonymous guys on a chat board.

It's been that way for decades.

 

When I lived in Florida, a saw a lot of F cars under covered car ports. It's not that unusual there along with every Porsche imaginable, RR's etc. Fcars must be more common in Florida than anywhere else in then states. If it were Chicago, I'd agree. But in FL it's not that big a deal. One good thing is the 360's don't rust. I wouldn't do it to a 308 for sure.

Also, you can always stick it in a storage unit.

 

Would it be possible for you to rent a garage space if it's going to be a weekend car?

 

Do it but look into getting another place with covered parking.

 

LOL! True Eric!

Me thinks his mind is already leaning in the right direction.

All the best,
Andrew.

 

LOL!!!

 

Buy a good car i.e. do your homework and don't skimp on doing a proper PPI. The other thing is arrange for covered garage space. You can find it easily and not too expensive if you dig around.

 

1) Most people can't
2) Rent a storage space at a secure/gated place for $150/month and buy a car cover.
3) Nice well-documented 360s are < $100K all day long - good choice.
4) A nice 360 has or will flatten out pretty quickly from a depreciation standpoint so while a newer more reliable or cheaper-to-maintain car (Porsche 997 for example) will hemmorage money every day, your Ferrari will remain fairly stable and 360 maintenance costs are pretty reasonable. You will also spend less on tires for the Ferrari.

Bottom line is you will always find a million reasons NOT to own a Ferrari and there will never be a logical, sensible argument TO own one. Fact is if it is your dream to own one and you worked for it and every time you clean it, hear it, see it or even think about it your heart skips a beat then buy the darn thing - soon!!

Cheers

 

Ask yourself the very same question when you are lying in a hospital bed with tubes up your nose, a wire attached to your chest, along with a TV monitor and an IV drip plugged in.

If you are able to do it without financially screwing up your lifestyle, what are you waiting for ?

 

Well, at THAT point, saying "yes, I think I'll buy the Ferrari" might be fairly moot.....



Jedi

 

Get one...Hurry! Life is just too g*d d*mn short!

 

You only get one shot at life so why not realize the Ferrari dream if it is financially within sight?

 

So what did you buy???

 

Yeah.... what gives? It's been SIX HOURS!!! NOTHING YET?




Jedi

 

Hey you guys are killing me,,,, what did I buy yet?? Ah, we are talking another year here folks. lol.....and, of course I know the rules about checking in with you all before buying a used car. That's why I'm here! Well, as to your good answers. I will probably be able to get a used 360 modena if its between $70 - $100,000. Of course then the yearly expenses kick in plus insurance plus tires, but I will probably only put 7,000 miles a year on it. I really cannot do anything about the lack of garage. But, I promise to wax it everyday and use a dash board reflector. Anyone can give me an idea of yearly expenses? -Bob.

 

A man with motivation thats what we all like too hear!! You know I cannot afford one on a cops salary thats why I whore myself out to my friends here lol!