With the reveal of a 4 seater electric car, does the PS do better long term?
https://collectingcars.com/for-sale/2024-ferrari-purosangue-4 unsold, bids were up to £300k list price was £400k so I presume owner had a reserve
https://carsandbids.com/auctions/Kmm8jqp0/2024-ferrari-purosangue current bid 415,000, less than 5 hours remain MSRP: 495,598
No because two different cars. EV should be more like a Taycan instead a SUV. The Purosangue successor will likely also have a V12 again. Demand was too high for Ferrari to release it without a V12.
Not sure I'd want a car with a branded title even if car was mechanically sound.... Known Flaws The attached Carfax history report indicates that this Purosangue was recovered after being stolen in March 2025. Some chips on wheels
It's totally crazy that they are asking you for so much more now. Can you get your deposit back if you decline? I am interested to know as mine is arriving in a couple of months, and I do not want to pay a single dollar over. I gave my deposit 4 years ago.
Could you elaborate how buying a Ferrari under a business or LLC helps offset the losses? Are you depreciating the cars and using for work? Any guidance would be appreciated... feel free to PM me as well!
You can depreciate and write them off if used for business. Also, if a truck or SUV is over 6,000 lbs you can fully depreciate I believe in year 1.
That is correct, but how are you depreciating a $500K car/Ferrari for business without having a red flag to the IRS? Unless it’s a legitimate luxury rental, yes, but what else? Would love to know as when I bring this up with my CPA, I get shut down.
Depends on your income. For example, if you are making 300k a year and depreciating a 500k car that might be a problem but if you are making 10m different story
But if you're making 10M, I don't think you're really going to sweat about trying to depreciate something petty like a 500k car, ahem, SUV. The amortization or write-off of Purosangue for someone making 10M doesn't even amount to a rounding error.
Depreciating a Ferrari through a business could get iffy. It's not cut and dry. And someone making that much money already probably has a lot of grey in their return. They don't need this as well
I save what I can in taxes. But I walk clear of the line. Calling any car a business expense has very clear guidelines. A $50k truck for a business makes sense and nobody will question if you used it to pull your boat to the lake. A $500k car is another issue. If you have ever had the pleasure of an IRS audit, you will understand the risk. Oh, and there is a definite cost to that.
Not to get into a debate, you can do whatever lets you sleep at night. The cost of a car is relative to the individual and their income, the government cannot tell me or you what we can or cant use for business. Is it risky, maybe, maybe not. Personally, I am not using a 500K car for business but I would have no issue with someone who is. They are probably paying more than most regardless. The point is, it can be done. Let's just move on from this topic, it irrelevant to the thread.
Of course, it can be done! And of course, I will do whatever I think is right and manage my own risk tolerance, but thanks for the permission to do so. Hahaha! I’m happy to move on - not trying to debate, just making a comment with a different point of view. As far as this being irrelevant to the thread…. The whole thread is irrelevant! Hahaha!
