Ferrari on a Budget

If you can find a quality F355 with a maintenance record and a good PPI for $50K, buy it. There is a plethora of junk out there. Quality cars will always demand good money. The quality F355s are bringing around $66-69K. The quality 360s, around $90K.

According to Dave Helms, the most desirable newer Ferraris will be the carbureted 308s (with the 1976 fiberglass, dry sump being the most desirable) and the F355 Berlinetta (with the 1995 2,7 Motronic being the most desirable).

 

Here's what I would do:

1. Buy the 328 when you can afford it. The 3x8s are the prettiest cars ever made, and - as noted above - have reached the bottom of their depreciation and are climbing in value again, while 360s remain in a slide.

2. When the values of 328s and 360s crosses. . .

















Keep the 328!

 

You go to OHSU? My little brother just graduated from there three years ago and bought a horribly-managed/run practice with a PRIME location in Beaverton.

I'm sure he'd get together with ya for lunch or drinks.

Although he has been IMMENSELY SUCCESSFUL in building the practice he went through some **** with trial & error. . Such is life, right?

Number ONE thing he complains about is that he wishes instead of focusing solely on sciences he wishes he would have taken more business classes in school. Unfortunately all Dental School teaches is How To Be A Dentist--NOT How To Run A Practice.

Good luck on the boards. My bro laments that that was the worst period in his entire life (yet he passed the first time)

 

Im assuming your a dentist as well? lol My passion has been on going since I have been 5 due to family members being long time ferrari owners....Not a day goes by were I am not thinking of it. I think its going to feel incredible making my first purchase especially after spending 10 years in school. I took the undergrad, masters, dental school route...Its gotten so hard to get in now.

 

Yes, I'm a dentist. Went the extra 3 years for ortho school and I'm out practicing what I love to do. Funny thing was, I created a spreadsheet in dental school of all the 355's out there for sale including their S/N, options, asking price, etc. This was so that I could know more about the history of the car when it came time to look for myself. Ended up creating one for 360s when I was in ortho school. Ended up with the 430, so I can definitely relate to where the OP is coming from while in dental school -- looking for the best bang/buck Ferrari (which, IMO, is a tossup between the 360 and the 575 right now).

 

and that's why it's called DENTAL school... not business school..

just messing.. medical school grads are just as ignorant on the business side of running a practice. It's a lot of learning on the job.

 

An F430 in ortho school?! Not bad my man. Were did you do ortho residency? NOVA

 

Good god no. I've been out practicing for a while now. But I'd been saving for many many years in the F-car fund.

 

And then die right before you buy something that you have worked so hard for. Or get it now and use it as motivation to work harder to keep it while enjoying your drive home after a long day at the office.

 

Like a few here have mentioned.

Wait a few more years and the newer computerized Maranello jukeboxes will be had for next to nothing. Who is going to pay $10k to track down an errant $.025¢ connector?

Um.... Meet Mr Nobody.?

And DaveH ain't the only guy preaching this stuff.

Mass production and electrical gremlins are going to KILL newer car values. I'll bet 3x8's will sell for more in many cases as they will still run.

 

I disagree.

one's enjoyment of life shouldn't be all materialistic. Yes, a fast sports car is very nice to own but if that's the main goal of one's life, then it's a poor life, even if it's a life with a Ferrari.

for me, a nice car pales in comparison to financial security for the love ones.

 

I agree with a non-materialistic life and saving your money and investing it to better the future.

That being said. In healthcare you see something that the average Joe on the street doesn't, tons of money, success, great contacts.. none of that will spare you from cancer, back problems, from a debilitating accident, etc. Everyone gets sick. Some things should be delayed, but don't put off living your life until you can't.

Live like a miser eating tuna from a can, driving a used Chevy Nova, amass millions living a frugal life. They then retire and have an illness that depletes the money, uncle sam gets it, and/or the heirs get it and live life well with it. Nice life.
Or for that matter guy saves like a dog to put his kids through college, finally reaches the point where he can enjoy it and then has back problems so can't enjoy the bucket seats. Not to mention he then becomes "that ferrari owner".

It's a nice reward/toy to have that makes life's journey that much more enjoyable.

 

Richie:

This may be a little out of left field but have you considered military service? I'm a military nurse and I know we are always in need of medical specialists. I'm not sure how dental officers work, but most doctors come in as an O-3 which realistically will get you $65-70k a year but the biggest thing is most of the time they will pay off a substantial portion of your student debt. I think its only a 4 year commitment and that might give you enough time to get a little experience and more financially stable to start your own practice.

Just my thoughts, take them and run or ignore them. Military service isn't for everyone, but it's not as bad as many people think, especially the Medical/Dental Corps. If you are interested, talk with a recruiter.

 

+1 to everything said.

There's a balance in life. So many people plan on waiting until they retire (age 60+) to begin living life. Bad things happen along the way and age 60 may never even come. I say live as much as you can without negative impact to your future.

 

Within 10 years I'm calling for 360s in the high $30s to mid $40s. Don't forget the 458's will be pressing them as will what comes after that. They only get older. But I'm just pulling that info out of the air. I think our OP will be able to buy a 430 within 8 years or a 360 easily within 5 if he is focused.

 

I think this might be overly optimistic. If true, I'll buy a few and stock up. If the market continues to dive, perhaps this estimate should have been in Yuan. ;-) Also implies cars like 308 will be $10s. Simply hasn't happened. 348's are in this range and in part because of $7k majors. 355's will then be in the 20's? Sorry don't see it myself.

OP should be able to buy either within 5 to 7 years after graduating IMHO.

 

There is a weird compression in the price gap that happens as cars age; the older ones, because of age, stop depreciating, and the newer ones only go so low. It ends up with a number of models costing only a few thousand different: 308-328-348-355... the price difference gets less and less; driven more by what you want and less by the cost.

 

True. There is no economic mechanism to prevent further depreciation for 348/355/360 series cars.