My struggles with (possible) Ferrari ownership

to the OP: this may have been said but....dude you have issues! if you are that worried about what others think of you go buy a dang prius and move to hollywood! WOW..oh and seek counseling.

1% - 2% of your net worth....hold on thats means in order to own a 50K ferrari you should be worth 5 million! holy smokes!! im waaaaaaaay over extended!

 

I guess why this thread hits so many hard is that -- Ferrari owners ARE impetuous types. And, when they hear someone not just taking the bull by the horns and just buying one if they can afford it, they don't get it.

There is no logic to owning one. You cannot justify it. You either want one or you don't see the big deal. It's not unusual. There are thousands and thousands of people out there who could afford to buy one and would never consider it -- maybe even frown at it as ridiculous.

And, despite what most may think, we buy them not to impress other people but to please ourselves. In fact, we could care less what other people think, positively or negatively.

As I said, Ferrari ownership is not logical. Trying to connect logic to buying one is like asking if you should marry someone because it makes "good financial sense".

 

+100

Talk about hitting the nail on the head!

 

What is the real reason you want one. The vast majority of people would say that if they won the lottery they would buy a Ferrari. When I ask them "Why" they cannot give me a valid answer. I have replies of "I've always wanted one" or "its a Ferrari and I want one". These are not answers to why you may want a Ferrari they are merely statements by people who do not want to say "because it symbolizes that I have wealth and can now afford the price of entry".

The owners that I have meant did not purchase their Ferrari because it symbolizes wealth. People who have purchased a Ferrari for this reason are not a Ferrari owner they simply someone who can afford the price of entry.

So what is your reason for longing for a Ferrari? A Ferrari is created for one reason only, that is to be DRIVEN. Will you drive her, redline through each of the gears hard on the brakes drop 2 gears before entering that tight right hander or will you drive sedately all the time not wanting to "hurt her". I do not mean that she is to be driven hard all the time you must keep in mind weather conditions, other users on the road and the state of the road itself but when the road opens up and the conditions are right will you drop 2 gears and floor her or just cruise. If the latter then the fire is not in your heart and you will not be a true owner but merely someone who can afford the price of entry.

If you have the fire then some advanced driving courses will help as she is a handful (even the F430 with her driver aids). If your skills have been increased then you will be able to have some amount of control over her but remember she will never be tamed unless you have skills akin to Schumacher or the Stig.

Finally, don't expect perfect reliability. High end cars are not despite the perception because of their price supposed to be more reliable than cheaper vehicles. It is in fact the other way around. High end vehicles are less reliable because of their technology and in the case of Ferrari the engines are performing close to their limit, this means more can go wrong. A cheap car has less technology, the engine is not stressed in any way and the vehicle itself is not under stress therefore less room for things to go wrong and if they do easy and cheap to fix as specialised knowledge and tools are not needed. Small apology for ranting off topic

 

+100

I think the analogy is similar to 'armchair' sailors who own 50' sailing yachts that scatter the multitudes of harbors and moorings and these yachts never see the open water for years... I lived in both Seattle and Savannah and the same yachts have owners bragging about the yachts but they never get sailed... I'm sure a lot of Fcars are in that same category... why own one if it's just a symbol of what you can afford and sits in a garage never to be driven.

I don't own one because I know my children’s college education is far more important but the day will come when I buy one but I won't be seeking 6-8 pages of approval to buy one, I'll just post my pictures of me in it for all to see... maybe the OP should just buy one when he has the nerves to do so and post the pics.

 

I disagree. I believe the lack of reliability in ultra high end cars has more to do with their limited production then anything else. It is much easier to spread the cost of R&D over a million units then a few thousand. Something has got to give. A company like Honda with millions of cars on the road chalking up thousands of miles a year, is getting constant feedback as to what is working and what needs modification and can adjust accordingly. Most ferraris spend most of their time occupying garage space, so it is more difficult for Ferrari to modifying their products as effectively. Furthermore, as I have often joked, Ferrari's entire budget for a new model is probably equal to what Honda or even BMW spends on making their doors close better. Ferrari focuses its cash on the things its buyers want first, and other things second. That's why a $300K Ferrari has a crappier paintjob and worse fit and finish then a 40K lexus.

 

You don't need to drive a Ferrari like your hairs on fire to appreciate it. The tactile feedback, the sound, the beauty, the heritage, can be appreciated equally on a spirited drive on your favorite backroad or on a short jaunt to the market with your bride.

Only you know if the "fire is in your heart." We are just armchair experts trying to extrapolate your motives from your few posts. If you do take the plunge, I think you will find, as I have, that the people you meet and the friendships formed through the brotherhood are as valuable and wonderful as the car itself.

 

Social cost? You're not proposing a nuclear power plant on lake shore drive, it's a car. Imagine what your dinner guests think of your window treatments. GASP. Trust me, there is something they are not telling you. Now go buy the damn car and post some pictures

 

It seems that perception and depreciation are your concerns. Have you thought a about a Vintage Ferrari such as a Daytona or 275 GTB? Much different animal but I think the general public looks at a vintage car and thinks "style" and not "rich guy". I appreciate the newer cars and would love to have a red 430 but just don't feel comfortable.

At least do some research. The Vintage section can help you select the perfect car.

 

Chicago_c and I have been corresponding...

He's the real deal, guys... just lettin' everyone know...

Mike

 

Old politician's saying: "there are two things that you cannot hide: cough and wealth."

 

You're sending money to his Nigerian bank account?

 

Wow great post, I waaaaassssss going to introduce myself here today but why bother. My measly enthusiasm couldn’t hope to engage as many as have been compelled to respond to the OP’s dilemma; and in so many interesting ways too.

One thing I see for the OP is that a red car isn’t for you my man. You’ll need something that blends in with the surroundings.

One thing I have learned today is how grateful that I am to not have had to live in Chicago, especially if the OP’s issues are common. I mean it would be nice to have a stool with a brass plaque with my name on it at Gene and Georgetti’s and I love Ginos East Pie but I digress. “Thank you Great Grand Parents for packing it up for the Golden State way back when!” ;-)

I feel compelled to post here also because to a much lesser degree I can identify with some of the thoughts from the OP. These have been communicated well BTW. Obviously you have stirred the pot with the shear numbers of responses.

Some here have captured my thoughts exactly but there are so many ways to live your life. There is a key word in the preceding sentence “your”. Detachment from the concerns of others does not have to be a negative, and it doesn’t necessarily mean that you don’t care. A leader can do this with tact and it can (and should IMO) be viewed as a strength. You may need to spend some time filling your social toolkit with some more items that allow you to express yourself more freely without overly burdening yourself with the ever present drama that is a constant in a social circle. (Disclaimer- Disregard if your financial livelihood is at stake)

The warm blanket feeling that you know everyone so well and that all your social relationships are transparent and well minded, well rounded and ever lasting is a comfortable one to immerse yourself in; but for me, at least in my experience, is not realistic. Not to mention that I would be stifling my inhibitions, [read inner child] if I allowed others to drive my interests.

The guiding premise for my non professional relationships is how the person makes me feel. If being around the person makes me feel good that relationship continues, if not …it never blossoms to the point where that person could ever hope to know my secrets, my dreams, my desires, what toys I must have, which dead end pursuits I am doomed to follow. Said pursuits ultimately creating the man I will be, I am a work in progress, as such am often mistaken for interesting [tongue in cheek].

Interesting topic to ponder however, and no surprise that the lust for the premier automobile is the conduit…at least to a car nut.

Thanks for letting me chime in.

 

i guess the way i look at this dilema is this...

YOUR life...exactly it is your life so why worry about what people think of you!!!???

if you choose to hide your wealth and your desires than YOU are NOT living YOUR life ...but are living A life for other people! screw that i'm here now and im going to do as i please other people be damned.

i feel SORRY for the OP as he is so worried about what other people think that he cannot FLOURISH and LIVE...has he ever had a prime grade filet mignon grilled to medium rare or does he eat tofu and organic lettuce with a soy fat free latte made from coffe beans only picked by certified paid labor establishments that practice eco friendly farming?

Fugg dude live a little...on second thought go waaaay out on a limb and by a non battery powered SUV....wooooooooooaaaaaaa hold on a second lets not get crazy now. LOL

i mean really, if you look at a Fcar and it speaks to YOU....buy it and quit worrying about the "other" people.... and if they judge you negatively then are they really your friends?

 

Chicago,

I don't think anyone is against you. The tenor of all comments and of me as you can see is to go follow your heart and fulfill your passion now that your wallet is large enough. Life is too short to hold back. You have the financial means, just do it. If you don not you will live a life of regret especially when you see a fellow owner on the road.

In general I have found all owners who are from all walks of life and differing financial resources friendly and basically "not up themselves". These are happy cars. Other road users let you in if you need to change lanes, the road will clear in the lane you are traveling in, other driver's and bystanders give you a thumbs up, little kids light up when they see one. If you are parked and a little kid is looking let them have a sit inside the car and then see their face light up as will yours. That is a social cost you have not thought of. The joy you can bring to not only a child but an adult if you show them around your car and even let them sit in it. Their face will communicate everything and that is a joy that money cannot buy. Give her a good rev as you drive off and that will make everyone's day and I don't mean frying the rear tyres.

PS I do not think that Rosso Corsa is the colour for you. Try Titanium or silver both beautiful colours for the F430.

 

I can see your point and, in fact, I'm looking for a 456 and have the similar dilemma. Even worse, I want to hide the car from my kids. How can a dad who always asks his to spend cautiously buy a Ferrari? Everything has its opportunity cost and why do I spend my money for more meaning purposes instead of personal fun? Frankly, I cannot say if it is right to buy your car or not. However, I'd like to say that no matter what you choose now, then, in some point of the future, you may ask yourself if it makes sense you did that. Anyway, good luck to your search of a Ferrari.

 

That's good to hear Mike. I am always VERY suspect of threads like
this, that it's really a 15 YO who got bored with his XBox.

Jedi

 

Hello,

I'm gonna take you at your word. After being a CPA for over 30 years, I understand. Every person I have known of significant wealth has had a major paranoia about privacy. It is kinda a European thing. It just doesn't make sense to let the world know how wealthy you are.

That said, here is my advice. Buy whatever car you want, but keep it at the dealership, a private country club race track, or an exclusive storage place. This way you can drive it in peace, have it shipped to a FCA rally, or whatever you want.

Moreover, title the car in a Limited Liability Company with your attorney as the listed owner, which means people will not be able to trace the license plate to you.

Then buy whatever beater you want for a daily driver.

I used to know a guy who at one time was in the top 50. He always drove a used Cadillac Seville. He also didn't have a cell phone. I used to see him at a public phone in front of a Stop and Rob with his Seville in the parking lot. If people had only known, but I guess that was the point.

Dale

 

Go buy whatever you like and be done with it. Stop worrying about what others may think. You can only control what you think and do. I keep my F ownership rather private myself but that didn't stop me from buying one.

Get on with it.

 

Dude, just do it. I was a bit worried (though not as much as you) about what people at work, neighbors etc. would think. Turned out to be no big deal at all. People care a lot less than you think they would about what you drive. Most who do care are happy for you. I say got for it! Good luck.

 

I originally started the thread you referenced at the top.

Just some thoughts.

While you wait for your 458, consider getting a 911. It will help you feel comfortable with a little higher attention and performance. Also others will get use to you in them.

Do some track events. You'll really be able to better appreciate the performance of these cars.

Then test drive several high end cars and models. You'll be suprised how different they can feel.

In chicago, much easier to hide socially and dealership is right there for maintance. My personal concerns socially is would it effect my business? If it doesn't yours, don't worry about it. Just drive it as you see fit for the situation. Those who love and care about you will be happy that you fulfilled a hearts desire.

As many have pointed out, there is nothing rational about this type of purchase. It is just pure want. There is nothing wrong with that want. It is legal. it appears you can afford it, are humble, and not neglecting the other important areas of your life....SO GO FOR IT WITH NO REGETS AND ENJOY!

Good luck

 

I'm probably very late into this thread....

Chicago - you don't want to get older, look back and think "I wish I had bought the shiny red 430".

As I say in another post - "do it, do it now!"