I'll add my $20.00 ...hey, it's a Testarossa lol Most of you know I'm selling..... so why? I speak very highly of the car, I do believe it will eventually go up into the stratosphere and it has a very unique look. Yes, it's an investment, but so is my company, so I make my money there. I've had the car for 12 years and just want a change....no slight on the Testarossa what so ever. As with 88t, my cars are paid for as well. Since the financial crisis, my company is too and I'm now going after my mortgages. ..no matter the tax benefits. Sometimes we just want change for the sake of it. Since timing is everything, now's a good time to sell. I see no shame in that. Shamile Freeze. ...Miami Vice! Sent from my SAMSUNG-SGH-I747 using Tapatalk
The only reason I didn't pay cash is because borrowing money is so cheap right now, plus by borrowing against my savings my bank gives me the money instantly at the lowest rate.
Based on your hard earned "saved/invested" monies used to purchase your 3 Ferraris ( I applaud your passion) it would seem to myself rather counter-intuitive that if your 3 Ferraris dropping precipitously in value, that financial lose would cause you no consternation as you stated.
Yes, it's a very good time to borrow! I get calls from all these financial institutions trying to loan me money. I tell them where were they when the banks were closing off my lines of credit during the meltdown? Screw em'...I don't need banks anymore. Shamile Freeze. ..Miami Vice! Sent from my SAMSUNG-SGH-I747 using Tapatalk
I know it's counterintuitive, no matter how cheap the money is, buying depreciating assets and living debt-free for 20 years allows me to sleep well at night. I even paid cash for a rental house. Not bragging, just stating fact. Prices can ebb and flow, I really don't care to be honest. There's something to be said about living within one's means, debt and stress free. 😎 Sent via itty bitty electrons
Congrats Shamile. I've always enjoyed your posts, Big Red, Turbo Joe, et al. You're all very passionate. That's special. Sent via itty bitty electrons
I'm seemingly taking a different approach in regards to banks & loans. Having the greatest amount of sub 3.0% money available to myself is a fantastic opportunity, thus the reason/s I have the highest equity line of credit I could qualify for. I remember the Horror days of Jimmy Carter & 19% interest rates. Sub 3.0% money is like a fantasy!
You are Definitely not the anomaly but it's not about who can write the biggest check around here , those guys aren't the enthusiasts if money isn't the issue then waiting an extra year for price compression of the Mclearn is a moot point. Time is running out for all us, waiting an extra year to a void your passion for another car may not be the right pay off. of course you will do what's best for you, but if the Mclearn is the car that fancies you after such long tr ownership , maybe it's time ? I feel my time is coming near myself, not because of the car , but because time of ride is running out every year that passes, and there are so many damn nice cars out there nowadays to scratch that itch I agree, not sure how some don't like seeing that assets part of their hobby go up In value , I know I do.
Jim G is definitely capable of writing BIG checks & would be extremely difficult to find a greater enthusiast.
The single greatest source of the average working American's wealth comes from appreciation of their home, which in other than the extreme anomaly ( paid full cash price)comes from a bank mortgage. Thus debt is a source of wealth.
Haven't had a mortgage for 20 years and certainly haven't missed it. You'll understand when you live debt-free, regardless of interest rates. Besides, if I can't eat it, drink it, or drive it, I probably don't need it. I do remember financing a Mercedes, 33' sailboat and house during the Carter years. Worst president ever, until now (flame suit on). I think Shamile understands and appreciates my position. Then again, I understand the concept of leverage. It's just not me. Let's get back to discussing TRs. 😎 Sent via itty bitty electrons
It's funny how these threads can easily go off in other directions. Wasn't this thread about the values of Testarossa's? We just witnessed an incredible number of Testarossa's/TR's/512M's reach higher heights as of this weekend. Personally I am very impressed and expected just that. A rising tide lifts all boats and us lucky owners of the very iconic and last mid engine 12 cylinder supercar from Ferrari (barring hypercars) are on board of the ship that has definitely sailed. Lets keep our eyes on the ball fellas.
Good point...that being said, what value would you put on a 1988.5 with 66K miles with excellent paint but needs the seats redone or dyed? Thanks Brian Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login
Wait...let me beat this horse to death...one last time. I would say most of us here are business owners and we made our money by being savvy and knowing when to hold and when to pounce. Again, timing is everything. If I were to be looking for an exotic, I wouldn't be buying now. I would be waiting until January when the snow is blowing sideways outside the dealership windows up north. December is too early as everyone is still in the holiday cheer buying mood. But.....January is perfect as the post holiday letdown is now setting in. Mid to late January is even better as those credit card bills are now starting to come in. Now, a call is made to make a deal to the sales rep who overspent and needs some cash from a buyer in Florida lol Shamile Freeze. ..Miami Vice! Sent from my SAMSUNG-SGH-I747 using Tapatalk
Shamile is always right. Always. Winter is the time. Testa/TR/M values are up, and the best cars are up the most (and I think will carry on upwards - single mirrors, 94 TRs, Ms). But there were lots made, and average cars will be average. I'm in the anomaly club too, 3 Ferraris, all paid for with actual earned money. Let's make a crest!
regarding the "Miami Vice" TR at $600k. that was all the money and foolish to not let it sell. Everyone knows that aside from Steve McQueen celebrity and/or show business provenance is essentially worthless. There was over $400k in premium at that bid which was generous ! Whoever owns this car should just be buried in it if they think it's that valuable (it ain't !)
Welcome to the club. Paid cash for my TR. The rest you preach is gospel. Ahem !!!! And remember .......cash is king!!!!
IF ... You ever see me come up for sale, I will gladly take your BS as I fully deserve it Until then, you will just have to wait and see But don't hold your breath, I have a son that I sort have promised I would bequeathed my cars too , so selling to him may not count
Hi, I still can't judge the values of US cars that well being in the UK lol, so can only go on what I read. Bearing in mind the aim of the thread, does anyone want to help out with a price range Just looking at auction prices and asking prices, 20kish miles cars look somewhere around the 130-150k mark, so taking into account 66k miles and needing seats re-done, maybe 95-105k depending on how well serviced and the rest of the car overall? Looks lovely in the pics and tbh though miles still has a definite affect, I think unless you're comparing mega low miles like 15k or less compared to mega high miles, the miles doesn't have as much negative as it did a year or two ago, if the car is serviced well. Like I say I'm not really that up on US prices so hopefully other ppl will give a bit more accurate idea! Dom.
Hi Dom, In EU look for the prices at mobile.de ? Gebrauchtwagen und Neuwagen ? Deutschlands größter Fahrzeugmarkt and AutoScout24 - Find used cars and new cars throughout Europe .... as starter Now 127 hits ... this one in U.K. ! Read: "A fantastic investment opportunity as prices for these vehicles continue to climb" Image Unavailable, Please Login
