My dilemma

2 days ago i the ultimate car of my dreams came up for sale.
I`ve been dreaming of 308`s sinse the first time i saw one, 14 years ago.
I went to see the car and everything seems to be just as i should be.
No the car is not in perfect condition but a very good driver,
only rust i could find was little bit on left door, there is worn interior and paintjob
but not worse than it should be on a 78` with 60000 miles. And the prise is right.

I wil take the car to a workshop to see the car from under and to get comression-test
etc.
However at this point of life, with 2 small kids a wife and a house that need atention,
timimg is not perfeckt. I do not have the money to pay cash so i need to go to the bank, but im very shore i can afford it.

One problem is, everybody, my parents, my wife`s parents, my wife and so on.......
They are telling me its crazy to use that mutch money on a car that is imppractical.
My father spessialy.

Will i forgive myself if i let her pass?
or should i buy her and tell everyone to get of my back
The facts is that the ferrari and my d.d will still be cheaper than my sisters yaris that they
dont even wash.

Why the f*** can`t i buy the car i love, when everyone can buy som new piece of s*** car that they don`t even care of?

 

Yes, let that one go....

There will be other Ferraris, but you only have the one wife.

Unless of course, you lose her, then you will be like ME!!!

 

You'll get a lot of different advice on this, I suspect. My thoughts:

(1) I love my 308. It's just incredibly fun to own, and I love driving it every chance I get. It feels special in a way that no other car I have been around feels special.

(2) I'm in a similar spot to yours in the sense of having a young family and a house that we are looking to upgrade and update. I was fortunate to be able to pay cash for my 308. I would have been comfortable taking on some small amount of debt and payments for it, but I don't think I would have done it if I had to finance more than about half the purchase price.

(3) If you can't swing the purchase price in cash, consider whether you can really afford to maintain the car as it should be maintained. Put another way, consider whether you're going to be okay spending a few hundred or a few thousand dollars from time to time on the car, rather than putting it into your kids' college savings accounts. Consider whether your marriage will survive that, whether your kids will thank you for it, and--ultimately--whether you'll regret it.

On balance, I don't think I'd do it if I were in your shoes, but it's your call to make.

 

My opinion only

The wife and kids are the only ones to pay attention to here. Discuss with your wife your dreams and why this is important to you. Explain to them why you feel you can afford it.

At some point, either you or her will decide which is best for your family given your situation. The both of you must decide what will make the both of you most happy.

If this is not the right time, try to figure out between you what WOULD make it the right time and then work towards that goal. 308's will be around a long, long time.

As to the others in your family -- this sounds cruel but ignore them. It's a matter of you and your wife.

I have one suggestion: Tell them it's for a limited time. Tell them it's for 1 year and after that, you will sell it. Most likely it will be about the same value then and not much is lost. And, after a year, they may actually like it and see how much pleasure it brings YOU. Bringing YOU pleasure is part of the deal here.

It's important we don't give up our childhood dreams. Otherwise, why would we be given a childhood in the first place?

 

I have a better one, 1976 or 1977, and you can have one when things are "better".....

This time of your family is NOT the time to make waves!!

 

I know the feeling mate, it's not easy. You're obviously in love with this car. (is it a GT4 or GTB or GTS?) Life is short, and you only live once. If you buy the car and you don't like it you can always sell it next year and don't loose too much money. Maybe you can even do some wheeler dealering and make a profit. But beware! A cheap Ferrari is actually an expensive Ferrari. Parts are very expensive, and getting this car in mint condition could mean lots of $$$$$$. And two kids and a house (and wife) need attention too, am I correct? Truth is: there is always some good car for sale. There are plenty of 308's out there. My advice: buy the best you can afford. A GT4 could mean lots of fun with the family.

Greetings from Belgium!

 

If you can't pay cash and have money for repairs set aside then In my opinion you can't afford it. Your dream of ownership can turn into a nightmare when the repairs mount on top of the payments in addition to the other ongoing expenses you mentioned.

Every person on this forum would love to see you have a 308 when the time is right just not right now.

Save money and wait for your dream.

 

Plank...

Family always comes first but maybe your wife would be more receptive if you took her along for a look and ride.

Maintenance gets lots cheaper if you do your own repairs. Are you handy? This may be a window to a whole new interest and friends. Your wife might like that too.

Best of luck...

Jim

 

Something else to consider is can you sell it quickly if you needed to without losing a bunch of money.

If you are on the edge and something happens, how will you deal with it?

My opinion -- I would pay cash after I have a cushion built up. You will sleep better. You will then end up enjoying the car a lot more!

 

Some people never dream, or don't dream very big. They'll never understand. Life is short, and you only get one chance. Don't end up with any regrets. Go for it if you think you can swing it.

 

I am handy, I have always been driving old s*** cars that I fix myself for two reasons, one is that I once will ovn a 308 an need to fix it, the other reason for old s*** is to not waste money so I will onse afforth one. And for the first time I am accually willing to sell my rally escort and mercedes. if I sell them I will have half the Ferrari cash.

 

This is wise counsel...If you are not concerned about the financial aspects, then the next most important issue is how much your relationship will be affected by the purchase. I would not underestimate that.

I will say that if you really want it, and you don't think it will ruin your marriage, then I would consider pulling the trigger. If it doesn't work out you can always sell it.

MB

 

Let me just add that owning a 308 is wonderful but it's different than the way you think it will be.

In the end you love it though and once you get it you WON'T want to get rid of it. Once gone you'll feel the sting every time someone ask "where's your Ferrari?". Don't buy the car under the conditional provision that you'll sell it in a year or as soon as an unexpected expense comes up. Your wife will see to it that you make good on the promise. Buy it to own it and keep it. Buy coming from a position of strength.

 

I would offer a lower price for the car, lower than the price you were going to pay. If they sell to you at this price you will feel better knowing you can sell in the future if you need to. If you don’t get it then there will be another one around the corner to start all over again.

 

+infinity

Amazing advice...

 

I just want to reinforce the points already made:

Since you're mechanical, you can fix it yourself much cheaper than having it serviced.
These cars have hit the bottom of their depreciation curve; you should be able to sell it for what you paid. The cars high maintenance costs are what you're paying to enjoy the Ferrari experience (some of that might be converted into increased resale price).
If you're willing to sell your beloved other cars to get it, you have the desire. Explain the resale market to your wife that 4 or 8 years down the road you will be able to sell it for what you paid. The inexpensive end of the 2 seater range in the US has been at about US$20K for 20 years.

 

We have 1978 GTS. We just took 3rd place in a car show, which was very good for this car. When we bought it, it was totally trashed. We have now owned it for 15 years. We have owned a 1999 Modena and a 1994 348. We have sold the others, but always keep the 308 GTS. Don't pay any attention to anyone but your wife. Explain your desires and your reasons. Get what YOU want after explaining your position to only your wife. Then make your decision. It's your decision and your cost as a family member. As long as it doesn't affect your livelihood or your wife and you understand that these cars are really expensive to buy parts for, when they can be found, no matter what kind of Ferrari it is.

We have owned 9 Prosches and 3 Ferraris with others. We plan to keep this car and hand it off to my son when the time comes. It has a separate garage, and we love the car. Get what you always wanted. You can even sell it, if you must or want to. As long as to you don't pay to much.

 

Get a 4 seat family Ferrari, like a Mondial. ;-)

Same engine, same problems, same 30 estimated hours per year to keep it running, etc, etc.

 

Thanks everyone for the good advices and answers.
So me and my wife discuss wherever i can or cannot buy the car
and i will let you guys now the outcome.

I have to say, i realy love this forum

 

You will not enjoy the car if your wife is unhappy or if this puts you in a bad financial condition. You want her to be supportive and enjoy it with you. If you have a loan from the bank and a wife that is complaining, the car will sit in the garage and will be a source of greater frustration. Buy it.

 

Buy the car. Don't worry about what women think.

 

It all depends on your financial situation and timing. Sometimes a few years can make a lot of difference between being able to affort the 308 comfortably or not.

As for your financial situation: break down the numbers and if it all adds up your wife shouldn't stand in the way of your happiness. She should understand that.

And if your calculations can convince here that the total financial situation of your family is not in jeopardy by buying the 308, then go for it. Maybe it does mean to plan several things a little more spread in time, like buying the 308, refurbishing the house, saving for your children etc.

Make a separate account for saving for maintainance so you can show your wife what you put aside for your general needs and that you only pay for your 308 out of the separate account. This will keep things clear financially.

If it all adds up your wife should have peace of mind. Good luck!

 

Classy, man

 

Happy wife, happy life.

Simple.

 

Buy it.

I would. It is none of their business how you spend your money - unless they check with you before they make a big buy.

This isn't practice. You have only one chance with life. Get the car.