Is a Ferrari purchase ever a responsible move?
When it's eventual outcome (perceived, predicted or otherwise), including total cost of ownership, surpasses the same initial $ value of actual "money in the bank". But then, only a Midas-type individual would use that as the primary justification/motivation.
John, last week you talked yourself out of a Ferrari and now you are circling back looking for rationale. A Ferrari is like an annoying hot woman that drives you nuts but you just can't get enough of. It's not responsible. It's not logical. But owning 1 or more is pure enjoyment that can only come from an Italian
Obviously, you need to weigh this decision like any other against your own personal situation. But to over think it - one can say buying any car isn't rational, after all you could walk to work or take the bus. On the other hand, drive a 355, then ask yourself how irresponsible you've been waiting this long to get one.
I know.. Off topic, but really? Only if you live in a metro area. Believe it or not a very large portion American people do not live in cities that have public transportation or it's a short walk to a corner store. I live in rural Montana and owning a 4x4 pickup is a responsible thing to do. Without one you could be risking you and your families life.
what price do you put on fun? I would buy mine again in a heart beat. Worth every penny that i paid for it and every penny i have put into it.
Yes agreed but it can be totally logical. It is all about risk. In order to risk you have to have some depth in your pocket to recover if the deal goes bad. You see a ferrari well maintained holds value better than any other car brand. You buy a $70k 355 drive it for a year it is probably still worth 70k or if lucky appreciates. You buy a $50k 355 well bought and put in the sweat equity, drive it for a year and sell it for 70k you make money. You buy a new $70k bmw or a generic porsche and in one year is it only worth 60k if lucky! You turn your 348 into a race car, enjoy the heck out of it, sell off all the parts that don't make the car faster and your entry fee to race a ferrari costs less than racing a corvette! I actually did that. The 348 was cheap racing. I spend crazy money racing the corvette. So...irrationalpurchase??? Hardly. If done with knowledge and forethought ferrari buying can be a financially smart thing. Go out and buy a ferrari. On their deathbed no one ever regrets driving a ferrari.
Last time I checked hearses do not have luggage racks, when you are on your deathbed will you be thanking God you did not buy a F355 or will you remember all of the great times. Life is short, do it, if it is not for you then sell it, you should not get hurt much. Waiting for the perfect time will result in never doing it, the road to nowhere is paved with sometime. Forza 355!
It's about value. Always is. What's the emotional value that you gain from driving an effin Toyota something every day. Very little. Totally pragmatic. What's the emotional value you gain from doing same in a and F car? Incomparable.
Sure, just imagine that you happen to have $1,000,000 that won't fit into your bank account. The Ferrari dealer can keep your banker happy, himself happy, and you have a considerably lighter wallet--so you are happy too.
If you happen to have bought a model just before a stupendous market rise, then, yes. FBB bought a very inexpensive 550 years ago and sold it prior to the increase, but managed to buy another at a depressed price and has probably made millions on it. Imagine buying a TR, any TR, 2 years ago, how well you would have done. My friend Greg managed to buy a 308 Vetro for a song and we witnessed one selling in Scottsdale for over $300K. These kind of increases validate a purchase from an investment standpoint. For me, my 348SS was worth the price no matter what it is valued at. Don't care, not interested in a sale. I had the money to buy and maintain it. There is no substitute for its ownership experience. There is no substitute for all the wonderful people I have met in the Ferrari community, I am not just talking Stooges here. All the experiences and relationships were well worth the $42K I paid for my car.
Thanks for the replies, this is a great forum. Personally I am good with our current fleet from all pespectives, but the charm of the 355 has me in it's grasp. The $$ is scaring me, but my kids don't need the cash either, so perhaps "sliding in sideways" is the answer. thanks again to all
