Your garage says it all...YES. Go buy the beast. I mean come on what's to think about? Head and heart are saying the same thing...I want in a TDF now.
what percentage of your net worth will the tdf be? that's the question that matters at the end of the day. just because you can write a 900k check doesn't mean you can lose 450k of it.
That and how liquid would you be subsequently. If rest is tied up in RE etc then doesn't leave much room for error
That is the crux of the matter. Also, I am now retired and capital generates income. I can afford it, all things considered, I just wonder sometimes if I am being “selfish” rather than wise. We all know there is a liquid-net-worth “number” out there in the ether that is so obviously “safe” that absolutely no one would ever question a purchase, and then on the other end of the spectrum there is a number so low people unequivocally would call you crazy for considering a $900K toy-car purchase. For instance, if one had >$50M in investments I doubt anyone would question (obviously I don’t), and similarly if $1M (and needed the income) then it would be obviously financially reckless to do so. As is often the case...the answer lies in the middle somewhere, hence the “polling” of a community like this...I know many of you (some from financial career backgrounds) have pondered similar conundrums.
in ur case if cash flow isnt a problem them maybe finance the whole thing so you dont reduce your capital by 900K who cares of anyone calls you crazy? ur bank account, ur life.
Interesting thought, especially in context of low interest rate environment. Wonder what residuals show on tdf leases.
my dealer basically forced me to finance my 600k car. the loan was 10k a month, i paid 24 times and sold the car.
Have you had an opportunity to drive a TDF? If so how does it compare to your former F12 and new 812?
If you wait to fix every weakness you will die without ever having enjoyed realizing your toy car ownership dreams. I don't disagree with your overall stance on the precarity of assets and of the status quo, but, live a little.
No unfortunately I haven’t, but I am sure the experience would be exceptional. I can say that the 812 is superior to the F12 dynamically in just about every metric you can think of. I might give the edge to the F12 in the “scare you unpredictable” department though.
For me, it seems more like how much will you enjoy it rather if you buy it or not. I mean if one can afford it and buy it sure no problem. Prices will notdiffer that much when reselling it. But if you want to drive it, it is different. If you approach from investment view, it is better let it sit on the floor. If you want to drive it then risk is too high when you put too much money into it. A solution is buy two tdfs. Just kidding. Sorry. Buy it and drive whenever it is possible. If it bothers you too much to damage it, it is better to drive now while tdf parts still exists in the factory then later when you have to order them or make them sort of.. Ferrari won’t make tdf type car again ever and you are not getting younger either. Now is the time. Sent from my iPhone using FerrariChat
Italiafan: I think it's a worthwhile and valid question to ask, and I've enjoyed reading everyone's responses. Beyond all that's already been said, I think your cash burn rate is an important consideration. I know guys living very simply for whom sports cars are there only sole extravagance. In this instance, a couple million would probably do the job. On the other hand, I've also got friends who have three or four ex wives, a couple vacation homes, and memberships to country clubs that they never get around to using. For those guys even 50m seems to leave them short. So while your liquid assets are certainly a part of the equation, I would argue that they are only a part of the equation.
Brother, it’s pretty clear you can afford the car no problem. We have a similar stable with the good fortune to pick the keys up from a few different options... so the real question to me is, is this a car you find as a keeper? Then the next question is do you plan to drive it and not worry about depreciation? $1 mil is not a small amount you can comfortably burn away (at least not for me). If the answer to both is yes - keep and drive it with miles of smiles with no regrets.....then buy the damn thing and live it up! Sent from my 16M
A large part of my hesitation does come from my love of driving and not as much from “collecting.” A depreciated high mileage car might be preferable for this reason.
cars have a diminished marginal utility, unless you love everything equally. as the price gets bigger, you need to love that car exponentially more as every time you add another car, you are then driving the others less. im not sure how many cars you have but if you are approaching a dozen and you live in the north east, that means you can drive each car for 2 weeks. the more cars you own the more it become a collection. also, and i'm not practical at all, a tdf is not much fun on the streets if you care about obeying the law. fwiw under 70 MPH i didn't think the car was much fun. 458, cgt, f40 all much more fun under 70 mph. if i lived in northern italy/germany the tdf wld be by number 1 choice.
That’s a very interesting point...drivability of an extremely powerful car on the street. The V8’s are fun on the streets because you can kick out the rear on turns and such. I’m not familiar with the usability of the V12’s on the street. Doing straight line pulls for me is banal with no adrenaline rush. You are correct the F40 and CGT raise your adrenaline at any level....even if you’re at a stop light, all your senses are heightened by the aroma, sound, feel, nostalgia and visual acuity....guarantee my pupils are dilated! Sent from my 16M
Poll results are interesting to me...I expected a higher range than what many seem to believe is acceptable.
Really? We are a bunch of ferrari loving car guys. It's all between 10 and 20 percent of NW. Fairly reasonable given you have everything taken care of Started shopping yet?
