Ferrari too ostentatious for work?

You do not want to drive a more expensive car than your boss. Period. That is one of the nicest things about being your own boss, no spending limits.

Everyone one of my customers is my boss and I cater to each of them to the limit of my ability, but none of them follow me home.

2 stories.

1. When I was a Wall St lawyer, my wife was a successful doctor and she had a major car. At one social function she drove into the city and picked me and some para's up to drive to the function (I think the firm rented the Museum of Natural History of the New York Public Library for a dinner dance). She pulled up behind the partner I worked for at the car dropoff and I immediately realized I had made a mistake, one of many in my big firm legal career. My boss shot an involuntary look at the car and me and the para's laughing and getting out that was chilling.

2. When I was between deals I'd look at a magazines in the law liberary. We had a modest admiralty practice and there was some sort of wierd magaziene from Hong Kong related to maritime law. It said the firms gave first year associates a new Ferrari so that when they met clients they had lots of "face", respect, an aura of power, success. My salary in Manhattan although large by national standards gave me a studio and the inability to own a VW Rabbit. I was ready to move.

It does show two different cultures. In America, it is always iffy to appear too successful. It does not give automatic respect although Americans like a winner. In the Orient, showing big success, like driving an F-car or giving someone a gift they could not possiblt recip. can be one upmanship and work to your advantage.

 

When someone "f"s up one of your planes, just make sure that you handout our cards. Referral fees paid (but I'll have to comply with Chambers v. Kay, the leading California case on that issue).
Smile

Art

 

Careful A. Someone might mistake you for Leona...

Nevertheless, I agree 100%

 

Maybe he should just hire the plummer... 1) Job. 2) Car you can afford.

If your car is so expensive that you can't do your job, then you need a less expensive car.

 

I think you're right about people being ignorant and jumping to conclusions. But, we all do it from time-to-time. And if you think about it, I think you'll find that unfortunatley we sometimes simply create it in others too.

Which begs the question:

Why did you choose not to answer? If you enjoy what you have and how you've managed to achieved it; Then why not share?

I think the only logical reason for not sharing, when sharing can increase your gain and reduce your annoyance factor, is for fear of losing something instead.

So ask yourself, what do you fear losing that keeps you from sharing?

Even if it's simply the idea that, 'you can keep them wondering about you' that you hide; I think you might find that by doing so, you really are being as selfish as you may fear people think you are. And if that's the case, then your "concience" is probably trying to tell you something. I kindly suggest listening to it.

IMHO, clamming-up is simply assuring the validity of a self-fulfilling prophecy. If you're annoyed by their remarks, then kindly enlighten them. They'll thank you for it. They might learn someting. And they'll respect you for your honesty and candor. They certainly can't disrespect you for it with any justification, unless you are rude about it. And simply shutting them down or ignoring them, in such an instance will definately seem arrogant and haughty.

I have a GT4. And I happily paid less for it, than almost any new car you can buy today. Granted, it's currently being painted and that will add over $10,000 to the cost. The gearbox was redone for another $4,500. And I got lucky in that the PPO paid $16K for a rebuild (<2000miles ago) before he sold the car for less than $20K to a friend that I bought the car from.

By the time I'm done putting it back together, I'll probably be even in the car. And at a little over $30K, that's still about the cost of an average Honda or Toyota. Which most people where I work drive. Not only that, but the vast majority of them buy new cars and then finance them.

Rule #1: I can buy anything I want that I can afford, as long as it does not depreciate.

And that's a rule I share (and enjoy sharing) with people as often as I can. And I explain it this way:

If I were the type of person who thought nothing of buying a car that depreciated 10-20% or more within the first 2 seconds I drove it off the lot, I could not have afforded my Ferrari. If I made a practice of financing depreciating assets like a cars (and on top of that, financing the depreciation as well!) on my lowly hourly salary, I could not afford a Ferrari.

If you ask me about my car with the sense that I drive an expensive car, I will likely tell you, "The car is free. I only pay for maintenance. And the amount I pay is probably less than you pay for your new Honda". And then ask nicely, "Which would you rather drive?".

If you want numbers, we'll talk numbers and I'll share what I've spent for my car. I'm not ashamed of it, nor overly proud of it. To me, it's simply a practical expense. There are few cars you can drive and enjoy and then sell for the same amount of money (minus the maintenance of course) you bought it for when you're done playing with it.

And I think even the $12-15/hr. muffler mechanic renting in Colfax, could appreciate that one!

Toyota's have a great reputation for maintaining their values. But what will the same price I paid for the Ferrari, having been invested in a Toyota instead, be worth in 5yrs? I don't think it will be more than the Ferrari.

Given those facts, people can appreciate the Ferrari (and your ownership of one) with a little more knowledge and insight. Communication is key.

Rule #2: Sharing is profitable.

(post hoc consideration: A $240K Ferrari is probably a different matter )

 

My boss commutes on the train --- so his "daily" is outrageously expensive.

Americans like a winner ... as long as he's in a different field, a long way away. They don't like winners up close where they might have to compare their own achievements.

Having a clue "blows the curve".

 

During my working life I always drove a foreign sports car to work as it was my only car.I was initially the boss's son, then the new boss's younger brother,over a period of 30 years.The cars ranged from an MG-TD,Alfa,Jag XK-120,Jag XKE,Porsche 911,Morgan+8,ect. For a few years I would alternate taking the Porsche(in cold or rain) with the XK-120 or Morgan(in warm sunny weather). The factory personell never had adverse comments,or at least I never heard any.When I retired,I bought a 360 spider which is my daily driver and I've still not heard any thing bad,but I can understand some negativety from some of my less secure neighbors.

 

I would think that being the boss's son would have something to do with a lack of comments.

 

It just doesn't get much worse than Ferrari in the general publics eyes. Like wearing a gold Rolex vs. a Patek. Dollars spent does not matter, it is the perception. Problem is, it is hard to work with people for a period of time and they never find out. Much worse IMO to be seen as some guy who spends his evenings in the garage polishing his "baby". Better to just drive it. I do. Not every day, but everyone has seen it. So be it. Someone mentioned earlier it goes away with time. Agree with that. My father has been driving sports cars to a conservative work environment for 50 years. I am sure people discussed it at times but after a while it is just his thing......maybe it did cost him clients but he had plenty of others. Now, If I was in sales would I drive it to make calls with customers that would be offended? Of course not. But people spend their money on a variety of things and I don't see the reason to hide mine. It is my life

 

I drive my Maserati GranSport nearly every day.
I'm a physician, and this issue has come up a couple of times.
My patients, the ones I have been close with, know that I am a car nut and they uniformly say, "kudos for you, you deserve it!" (Then they usually make some friendly crack about the bill and they can see how I can drive such a car....)
One other doc recently told me he didn't think it "looked good" for me to drive that car in town. I told him that if a patient wouldn't want to come to me for that reason, then I don't want that "sort" of patient. I told him that if a doc didn't want to refer me one of his/her patient's because I drove a nice car (when they all know what we make) then I wouldn't want to take care of his/her patient either. A doc should refer a patient if he/she believes I am capable of doing a good job, period. If they use any other reason then shame on them. I then told him to mind his own f*cking business.
Life is short. If your passion is cars then drive what you can afford and enjoy the hell out of it.
Don't worry what other people think, don't hide your love, don't live like a shadow--a mere reflection of what other people expect from you.
If this decreases your income a smidge, so what. If your are really good at what you do (which likely you are if you can afford an F-Car) then I doubt very much it will dramatically affect your income or lifestyle.

 

I posted this before....


An average guy must work to drive his Ferrari.


A super rich guy can drive his Ferrari to work.

 

Right there with you and feel the same way. Of course, I'm primary care and don't depend on referrals. Some of those patients that I'm close with and know I'm a car nut have driven the Ferrari around the parking lot as well.
It's been only a positive for me.

 

Well said. This is a sensitive topic.

IMO, I think if you are a real-estate agent, a stock broker, or another 'commissioned' individual, then appearance of success is important. And driving a nice car can convey that message very well.

From experience, I've known people to lose customers and revenue due to their 'image', (ie driving a fancy car to work.) And there is always an attitude of "why should I give my money to him? He clearly doesn't need it....." by people who are not comfortable with their suppliers/clients driving expensive vehicles.

Like you said, "Don't hide your love", but there is a fine line between "love" and "appropriateness" which leads me to belive that keeping your loves and hobbies private; is in no means hiding, and always approriate.

 

My dad is a surgeon, and when he started his practice a mentor suggested he get rid of the VW Bug and get something that showed "achievment but not total financial success". He wanted his patients to believe that he was a good enough surgeon for them to trust, but not that he would gouge them with a bill after sliceing them with a knife.

 

Well, in this day and age, the tab is picked up by Medicare and insurance. I don't know many folks operating on a cash basis except in plastics and derm.

 

What type of practice are you in where you get to pick and choose your patients? Coming from a medical family, marrying into one, and having all the medical family friends that such a situation leads to, your attitude either offends me or just does not transmit well over the internet.

Not saying that you should hide your passion for nice cars, or any other fine possession in life, but the fact that your wealth comes from alleviating pain and suffering should be considered too when you are dealing with your patients and their families. If you are really a good doc you will get all of the referals you need, as long as your bed side manner is not so bad as to replace the physical suffering with the mental kind.

 

Forty years into his practice, I am still amazed at how many folks he works on with no insurance but more than willing to work things out through the old fashion barter system.

He can drive what ever he feels like to the hospital these days, a few years ago the built the new doctor's garage with an enterance hidden from any patient or nurses view.

He still would not feel comfortable parking in front of his office in anything fancier than his Caddie CTS.

My wife and I, along with our siblings, have shamed our parents by not attending med school. Maybe if A&P had not been at 7am MWF in college, I might have made it into med school, but that "D" did not look too good on the transcript.

 

Not all Americans.

 

Oh, don't get me wrong, I work in a fairly rural environment in South Louisiana, and I see loads of people for free, or just write off any co-pays for folks if they need me to. Many physicians are not in the postiton to do this if they are on salary. I run a large independant practice, so my time is mine to give away for free if I wish. I guess what I was trying to convey is that at least for primary care, not many patients make decisions regarding whom they're going to see based on their fees.

 

If you are offended I would say "you must be easily offended."
I am a good doc, I have all the referrals I need because I am respected medically and because I have a reputation for having a terrific bedside manner.
I alleviate suffering all day long.
What I drive doesn't, and shouldn't impact on any of that.
My point was...if a patient doesn't want my services simply because of the car I drive then chances are that isn't a patient I'm going to want to take care of for long...undoubtedly some other issue will arise with such a patient. If a doc, knowing my reputation, decides to not send me a patient for the sole reason of the car I drive then I repeat "shame on him/her."
Life is far too short to worry about such things.

 

doctor+disgruntled patient+bad outcome=possible lawsuit

Doctor+disgruntled patient+bad outcome+ferrari which is obvious=higher risk of lawsuit


In that equation, the only thing you can change is the "ferrari" part. And if anyone claims they don't have disgruntled patients or any bad outcomes, then I want to live in your imaginary world...

 

Malpractice lawsuit damages cap in LA. Despite the second highest rate of lawsuits in the US, we have one of the lowest insurance rates. However, I do agree with you.

 

How about:
Doctor + constantly apologizing for his life = shoot myself in the head
or
Doctor + Maserati + great big smile on face and happy attitude + patients love the care they receive = great life (that is until you die of pancreatic cancer)
I'll let the lawyers and insurance companies fight like dirty little seagulls over that french fry on the boardwalk.......I'll keep whistling down the beach.

 

+2, Well said.

 

-drive what you want when you want. i think your job type, clients, level of success, etc. play a huge part in this--will clients/coworkers know/care?, can you afford to lose clients who may be offended?, do you care?, etc.

-yes, most people are unaware of Ferrari (or even Porsche, BMW) purchase costs, maintenance, etc. i drive a '97 M3 which, for what i paid for it, is far less expensive than some of these SUVs and a variety of other standard cars. but still, most dont see or compare the $$, they see "BMW"

-just because someone is a VP, CEO or has money to afford a Ferrari (or similar) doesnt mean they WANT one. so who cares if they drive more of a standard car. if everyone who could afford a Ferrari had/drove one, what would it do to the brand image? there'd be far more of those exotics driving around, maybe making them a little less exotic?