Do You Guys Have a Formula....

For what part of your yearly income you would spend on a play car? The last several years (6.5) I have been saving up for a new play car, I thought I could find the car I wanted for less than $100k. Now that I'm there, I'm not seeing anything that is a great fit for that money. The closest fit is an early Gallardo.

And yet I hesitate to spend more than that. Do any of you have a rule of thumb you follow making these decisions?

The cars that have my attention right now are:

1. Boxer 512 ($120k)
2. F430 ($125k)
3. Late model Diablo ($130k)
4. Early Murcialago ($140k)
5. 550 Barchetta ($170k)......OK, not much chance


Thanks

 

My formula is to buy cars that go UP in value instead of DOWN

out of your list I'd go w the Boxer or Diablo

The F430 & Murc are still depreciating

& the 550 Barchetta has such a small audience it would take years to resell

 

At $120K, the Boxer is the least over your budget and probably the best "investment". Also my car of choice from your list, regardless of price/collectibility.

Five years ago, I had a shot at a very nice carbed one for a little over $100K. Since we were going into a major house remodeling at the same time, I passed, and another Fchatter here in Dallas bought it.

 

For less than 100k you could have a 360 355 or 550.
For in the 100s you could get a 360 Challenge Stradale. I'm not sure what theta will do as a far as appreciate/depreciate goes. You could look at the 360 CS market thread for more info.
Just some thoughts. Hope that helped a little.

 

For what it's worth, if you plan to drive the car, the f430 will run you the least in maintenance. IMO

 

The two I would pick under 100K are the 360 and then a Gallardo.

The F430 is better than both though for a little bit more.

I love Boxers but they are not for Daily Driving. It's a car you want to keep and respect. The others you can thrash all you want.

The 12 Cyl Lambo's listed I think would eat me out of house and home in repairs and maintenance to be worth my consideration.

 

You've got guys telling you what to buy based on what they want in a car, but you never said what it is you want to do. Is minimum depreciation sitting in your garage your goal or do you want to drive it? If you want to drive with the least maintenance then a late model, i.e. F430, has the best chance of accomplishing that. Yes, it will depreciate, but you'll likely make some or all of that up compared to an older car.

They're not as flashy and not on your list, but a 550/575 is quite a bargain. BTW, I disagree that a Barchetta takes years to sell. The one I just bought was for sale for about two weeks... I bought it quickly because the ones I'd followed for the last year seemed to sell quite easily when reasonably priced, and they'll never be another car like it.

 

The Barchetta to me is the only modern "classic". It's special.

 

Whats your maintenance budget and desire in the car?

The 550 Barchetta while cool also has no top so to speak so will limit your use depending on where you live.


My opinion is 6 years ago you set a goal and youve hit it. 100k was your goal so why stretch that number now.

 

Challenge Stradale?

 

Tough at 100K, don't you think? Great car though.

 

Yes, definitely tough at $100k; those days are gone. I only mentioned it because he had other cars listed above his $100k mark.

 

Oh, I get it. Yes, you are right then if we look over 100K. Probably will hold value well if well looked after.

 

Yup, if he is considering $130k for a Diablo he should consider the CS if he likes the visceral/raw experience of the CS. There was one that recently sold for $95k, though it had a minor story. Several guys have contacted me since saying they should've bought it. Hindsight....

 

I go by net worth rather than income as far as a formula in how much I allow myself to spend on toys. As far as which model to purchase get out and drive your choices and buy the one that puts the biggest grin on your face.

 

What is that model for you Rob?

 

Boxer!

All the other cars are "a dime a dozen" excluding the 550 Barchetta.

 

Did you also save at least another $100k for non-car future needs? If so, I would go with the Boxer. I have had my BB512i for over a decade now and other than my previous 330GTC, it is my favorite out at of the 6 Ferraris I have owned. And i would go with a BB512i rather than a BB512. If not, I would wait until you have at least twice the value of the Ferrari you want to buy before buying, or go with a used Porsche or some other less expensive sporty car. I would never spend my entire nest egg to buy a car of any brand, Ferrari or not .

 

I have only driven a few different models and they have all put a big sh#t eating grin on my face!

 

Fair questions, will be a play car. If it is older (Boxer) would strictly be a weekend pleasure car, no stopping (other than gas), just point to point. If it was a newer car, could also be a Friday go to work car. But being an Engineer (ie we are suppossed to stop at mid-ine BMWs and Mercs) may complicate things (I already get alot of looks about my modified Porsche Turbo with what amounts to no exhaust).

Would love to buy a minimum depreciation car for once, but flashy new things usually win (hence I have a 996 Turbo (was still curren when bought) rather than the 993TT).

In either case, would like to have something with upkeep costs in the area of $5k per year.

 

I do not keep up with the market but I would like too think you could find a well sorted 512i with all maintenance records for $100-$120K. If you find one I want to think that an alotted $5K per year for any unforseen issues would be sufficient. If you are handy with tools and atleast knowledgeable about cars in general you will be ok.

Have you considered a Testarossa, I would.

 

I'm not saying I can't go over $100k, I'm just feeling alot of internal (me) resistance to do so. Thats why I started the thread, there are guidelines for how much to spend for housing, etc but I wanted to get some opinions if you guys who have bought 6 figure cars have some sort of formula you use to judge what you should go after and what you shouldn't.


Please keep in mind, the money I've cobbled together is a result of lots of overtime, bonuses, a part-ime 2nd job, minor real estate deal, and some stock trades. No one is going hungry, just upgraded the family to a new house with a rediculously high interest rate of 3.125%.

 

OK, so you're recommending a high class prostitute then....LOL

 

Sounds like you are doing it right......ie not rushing into a purchase.

 

No, I do not have $200k for this venture.

Its funny,when you are setting goals like this you think $100k would get you any number of cars you would love to own. I thought choosing one would be the hard part.