Do You Put your Ferrari on Your Personal Financial Statement? | FerrariChat

Do You Put your Ferrari on Your Personal Financial Statement?

Discussion in 'Ferrari Discussion (not model specific)' started by Kent Adams, Jan 19, 2022.

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Do you disclose your Ferrari ownership on your PFS?

  1. Yes

  2. No

Results are only viewable after voting.
  1. Kent Adams

    Kent Adams Formula 3
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    #1 Kent Adams, Jan 19, 2022
    I'm curious, how many of you put your car on your personal financial statement when applying for a business loan?
     
  2. Texas Forever

    Texas Forever Seven Time F1 World Champ
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    #2 Texas Forever, Jan 19, 2022
    Thecadster, CoreyNJ, AD211 and 2 others like this.
  3. vrsurgeon

    vrsurgeon F1 World Champ
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    #3 vrsurgeon, Jan 19, 2022
    I use it to write off fictitious expenses. $10,000 oil change.. *boom* deducted. (Dale :) )
     
    020147, RedTaxi, willrace and 3 others like this.
  4. tomc

    tomc Two Time F1 World Champ

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    #4 tomc, Jan 19, 2022
    Do you really want someone evaluating your loan application to see how reckless you are with your money?!?
    T
     
    Caphill and 19633500GT like this.
  5. JAM1

    JAM1 F1 Veteran
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    #5 JAM1, Jan 19, 2022
    I take the Ferrari over to the bank when applying for the loan, park it in the handicapped spot right up front, blow the horn to alert them to my presence, then stroll in the front door in full Ferrari branded garb with hundos hanging out of my pants to show ‘em just what kinda credit risk I am and slide my keys across the managers desk so he knows I mean business.
     
    Brian7708, Caphill, EnzoItaly and 25 others like this.
  6. Texas Forever

    Texas Forever Seven Time F1 World Champ
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    #6 Texas Forever, Jan 19, 2022
    Stud!


    Sent from my iPhone using FerrariChat.com mobile app
     
    Gohigh54 and technom3 like this.
  7. fatbillybob

    fatbillybob Two Time F1 World Champ
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    #7 fatbillybob, Jan 19, 2022
    There are some quotes you should be able to like twice!
     
    EnzoItaly and Texas Forever like this.
  8. RedTaxi

    RedTaxi F1 Rookie
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    #8 RedTaxi, Jan 20, 2022
    Not sure if a Ferrari, regardless of value, should go in the asset or liability column?
     
    Gohigh54, Innovativethinker, JOHNCJ8989 and 1 other person like this.
  9. ryalex

    ryalex Two Time F1 World Champ
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    #9 ryalex, Jan 20, 2022
    Image Unavailable, Please Login
     
    DrewH and Texas Forever like this.
  10. Thecadster

    Thecadster F1 Veteran
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    #10 Thecadster, Jan 21, 2022
    Reacherman1022, DrewH, technom3 and 3 others like this.
  11. JAM1

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    #11 JAM1, Jan 22, 2022
    Filling out business loan theme music…

     
    Texas Forever likes this.
  12. Jack-the-lad

    Jack-the-lad Six Time F1 World Champ
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    #12 Jack-the-lad, Jan 22, 2022
    Never mind the car, any information or documents you give to a federally insured bank in connection with an application for credit are subject to scrutiny by OCC, the Fed and FDIC, as well as state regulators in the case of state-chartered institutions. And bank examiners can be pricks. I’m not saying they share that information with other agencies but they certainly could.……..do you trust them?
     
    Texas Forever and ryalex like this.
  13. mestlick

    mestlick Rookie

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    Michael Estlick
    #13 mestlick, Jan 26, 2022
    I would never use it for getting a loan, but it's definitely on my spreadsheet for my own planning.
    Now that I own one 30+ year old Ferrari, it is clear that I need at least one more if I want to have any chance of driving one on any given day.
     
    HoleMalibu and Texas Forever like this.

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