Early 30 year guy needing financial/ferrari advice | Page 7 | FerrariChat

Early 30 year guy needing financial/ferrari advice

Discussion in 'Ferrari Discussion (not model specific)' started by Ascend, Feb 23, 2021.

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  1. NeuroBeaker

    NeuroBeaker Advising Moderator
    Moderator

    Oct 1, 2008
    38,742
    Huntsville, AL., USA
    Full Name:
    Andrew
    #151 NeuroBeaker, Jul 22, 2021
    Last edited: Jul 23, 2021
    1989-1992 Ferrari 348tb. Fully depreciated, values have already "bounced" and are on the way back up.

    Might be shooting myself in the foot suggesting it, as I have yet to acquire one, but that's what I'd get.

    All the best,
    Andrew.
     
    paulchua likes this.
  2. Ff 660

    Ff 660 Rookie

    Jun 18, 2019
    31
    Full Name:
    Jim mitanis
    I would be looking for a gated 599. Only a handful made and in your time frame.
     
  3. JohnMH

    JohnMH Formula 3

    Jan 28, 2004
    1,625
    Dubai / Bologna
    Downdraft Countach Quattrovalvole. Only carb equipped 4 valve V12 road car. 455 hp, mechanically simple, rare and will never lose value.
     
  4. Il Co-Pilota

    Il Co-Pilota F1 Veteran

    May 29, 2019
    6,023
    Hopefully some place nice.
    Full Name:
    A.B
    Aren't they in the 1.5 mill range?

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  5. Il Co-Pilota

    Il Co-Pilota F1 Veteran

    May 29, 2019
    6,023
    Hopefully some place nice.
    Full Name:
    A.B
    The 812 GTS is not a bad idea. Doubt they will skyrocket, but they will probably not devaluate too much. Pista or Speciale are good candidates too.

    What is the going rate for a 512M these days?


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  6. plastique999

    plastique999 F1 Veteran
    Owner Silver Subscribed

    Nov 9, 2008
    8,539
    SoCal
    Full Name:
    Edward
    Problem is in today’s market they are asking $700k+


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    Natkingcolebasket69 likes this.
  7. nickorette

    nickorette Formula Junior

    Jun 19, 2017
    341
    Canada
    Lexus LFA could be a contender as well
     
  8. JimEakin

    JimEakin Formula Junior

    Jun 13, 2015
    988
    Mountain Living
    Full Name:
    Jim
    Aston Martin.
     
    plastique999 likes this.
  9. hardhattg

    hardhattg Karting

    Jan 19, 2019
    66
    Full Name:
    timothy gould
    For more vintage ; Dino , bb for something more modern ; PIsta all day everyday over speciale


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  10. plastique999

    plastique999 F1 Veteran
    Owner Silver Subscribed

    Nov 9, 2008
    8,539
    SoCal
    Full Name:
    Edward
    Interesting, I’ll take the opposite S over Pista


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    Natkingcolebasket69 likes this.
  11. Ascend

    Ascend Karting

    Jul 23, 2018
    125
    Full Name:
    Kim
    Has anyone done this? For a car thats 15 years and older, you can import it in Canada. Im Canadian living in the US with no physical address or etc. i wonder if theres a broker who takes care of paperwork for you.
     
  12. Ascend

    Ascend Karting

    Jul 23, 2018
    125
    Full Name:
    Kim


    also, for european cars, is it worth the hassle? Do you have to pay VAT to europe then pay another sales tax in either Canada/US?
     
  13. blvckintl

    blvckintl Karting
    Rossa Subscribed

    Aug 19, 2018
    136
    Newport Beach, CA
    +1 for the Speciale
     
  14. Ascend

    Ascend Karting

    Jul 23, 2018
    125
    Full Name:
    Kim
    seems like its bt 458sp and fgt.

    i like 70s and 80s ferrari but i dont love them enough to handle maintenance.

    458sp is around low 400k these das, fgt around mid 350k. Lots of things to consider. Fortunately, i dont find pista appealing.
     
  15. Natkingcolebasket69

    Natkingcolebasket69 F1 World Champ

    I guess poster was looking for as close to 500k;)
    I personally would get a Dino or 512M (ugly but rare)


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  16. Natkingcolebasket69

    Natkingcolebasket69 F1 World Champ

    512 M are around 450 in the USA but cheaper in Euro.

    I’m pretty sure If I import this I could flip in the USA for 350 and net 60-70k in this market

    https://www.lacentrale.fr/auto-occasion-annonce-87102101505.html

    U can’t have a 812gts for 500k in the USA at this moment


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  17. Ascend

    Ascend Karting

    Jul 23, 2018
    125
    Full Name:
    Kim

    Can you import these cars? Do you have to pay vat to european country first then pay import tax of 2.5 percent right?

    I cant imagine setting up a ppi in europe. Even arranging one out of state is a nightmare.
     
  18. Natkingcolebasket69

    Natkingcolebasket69 F1 World Champ

    512M is now 26 years old so you can. Less than 25 is a pain - you have to convert etc.
    I’m French so I’m looking at French car, I’d send my dad check it out and ship it to me in the US. If you have someone local it’s super easy, we have a lot more Ferrari shop or specialist than the US.


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  19. Ascend

    Ascend Karting

    Jul 23, 2018
    125
    Full Name:
    Kim


    since you are european, can you let me know how vat works?

    say the car is on sale for 500k. Will I have to pay 20 percent vat then import to US? Or can I skip that step?
     
  20. Natkingcolebasket69

    Natkingcolebasket69 F1 World Champ

    In France prices are inclusive of VAT so technically a car 100k is inclusive of it.

    They should be able not to charge u the VAT but then u have to pay import fees and I assume taxes here too (on top of the 2.5% but I’m not sure of that).

    This needs to be verified though.


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  21. Ascend

    Ascend Karting

    Jul 23, 2018
    125
    Full Name:
    Kim
    interesting. Say that a used car is on sale for 500k. If it is inclusive of 20 percent vat and if one buys from the US, he only has to pay 416k?
     
  22. Natkingcolebasket69

    Natkingcolebasket69 F1 World Champ

    That’s the part to verify. I find it too goof to be true. I’ll ask


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  23. Bas

    Bas Four Time F1 World Champ

    Mar 24, 2008
    41,299
    ESP
    Full Name:
    Bas
    That would be my shout as well, for sheer all round experience I find it hard to beat the 599 GTO at that price range.

    Otherwise a Speciale + 550.
     
    Boomhauer likes this.
  24. Il Co-Pilota

    Il Co-Pilota F1 Veteran

    May 29, 2019
    6,023
    Hopefully some place nice.
    Full Name:
    A.B
    Setting up a ppi here in Europe is not a problem. If a 512M is something you are interested in, my dealer can handle a proper and thurough ppi. Let me know.

    Sent from my SM-G930F using FerrariChat.com mobile app
     
  25. Ascend

    Ascend Karting

    Jul 23, 2018
    125
    Full Name:
    Kim
    Hi guys,

    i am a guy in my early 30s and really crazy into cars. I just bought a 997 rs few months ago and now want to add 458sp or fgt but car prices are crazy expensive right now. What would you guys do if you are in my shoes?


    1) wait a year or two so that i can accumulate more money then buy one. Car price wont drop but it will be stable for now.


    2) car price may drop. Hold for now and buy later.


    3) it may shoot up even more. Buy now.


    What do you guys think? I think some collector cars act kind of like real estate. It shoots up 50-60 percent in 1 year then stay like that for few years (and not drop) then shoots up in the next boom. Million dollar question but please share your wisdom :) thank you!
     

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