Anyones car worth more than their house?

Discussion in 'Ferrari Discussion (not model specific)' started by Crawford, Oct 15, 2004.

  1. Crawford

    Crawford Formula 3

    Mar 5, 2003
    Nashville, TN
    Full Name:
    Crawford White
    OK - who's got their priorities straight? You know, you can always sleep in your car, but you can't blah blah blah...

    With the recent picture of the hurricane damaged 308 in a Florida trailer park, it made me wonder if there are tifosi out there with more of their assets sitting on rubber than on a cement foundation?
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  3. t88power

    t88power Formula 3

    Feb 19, 2001
    Puerto Rico
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    For a few years I owned no house while I had my 360. It is no longer though....
  4. BigTex

    BigTex Seven Time F1 World Champ
    Rossa Subscribed Owner

    Dec 6, 2002
    Houston, Texas
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    Yep, 2 Fcars.....NO house......I'm a vagrant....

    As the train rolled by the trash barrel fire last night I turned to my gf and said:

    "Let's buy that red one!"

    Now the ex wife, THAT beyotch has a nice crib.............LOL!
  5. BigTex

    BigTex Seven Time F1 World Champ
    Rossa Subscribed Owner

    Dec 6, 2002
    Houston, Texas
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    You cannot sleep very well in the hurts your back and makes ya cranky........
  6. DodgeViper01

    DodgeViper01 F1 Veteran

    Oct 1, 2003
    New Jersey
    Full Name:
    I knew of a guy in NY that has a BRAND NEW Porsche years ago and did not have a house. He slept in the car. Do not understand it though.

    I also know of quite a few people that live in apartments and have Ferrari's.
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  8. Oengus

    Oengus F1 Veteran
    Rossa Subscribed

    Sep 29, 2004
    Between timing belts or OH, SC, CO, CT
    Full Name:
    Big Tex,

    thats hilarious!!
  9. BigTex

    BigTex Seven Time F1 World Champ
    Rossa Subscribed Owner

    Dec 6, 2002
    Houston, Texas
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    .....actually I have an apartment, cuz I have too much stuff to fit in my gfs house...they have rules for children's visitation, no dome tents allowed......

    She does keep the speedboat though......

    I'd marry her but why ruin a beautiful relationship?????? LOL!
  10. 365boy

    365boy Formula Junior

    Nov 5, 2003
    Brighton, England
    Full Name:
    John Leaman
    My house's value is currently about twice that of the car...

    ...but I paid more for the car.

    God bless rising property values (and zero-depreciation classic Ferraris...).

  11. DodgeViper01

    DodgeViper01 F1 Veteran

    Oct 1, 2003
    New Jersey
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    Good call on those investments.
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  13. KKSBA

    KKSBA F1 World Champ
    Rossa Subscribed

    Oct 31, 2003
    SBarbara-La Jolla CA
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    A lot of people can use their house to buy their Ferrari, and they get to keep the house.

    Now, I'll bet no one can use their Ferrari to buy their house, and still keep the F-car. ;)
  14. sjb509

    sjb509 Guest

    Another interesting question would be if the value of their Ferrari was greater than the equity in their house (original downpayment and principal paid since, not counting appreciation to make it interesting).

    My guess is that most people would fall into two camps:
    1) High equity %age in home, and probably high equity %age in F-car.
    2) Highly leveraged with little equity in either.

    But I'm not going to ask that question. I've offended enough people already this week.
  15. PeterS

    PeterS Three Time F1 World Champ
    Silver Subscribed

    Jan 24, 2003
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    With all the crap that many ricers put on their Civic's, this thread may very well be the case for most:)
  16. solly

    solly Formula 3

    Jun 2, 2001
    Westchester NY
    Full Name:
    Dr. Steven S.
    I paid cash for the new house and cash for all the cars. At this point the house is worth twice the value of the cars (6 of them). But when I bought my first house in this area in 1994 (which I still have) it was less than what I paid for the 360 spider in 2002.

    God bless real estate markets.
  17. Spasso

    Spasso F1 World Champ
    Silver Subscribed

    Feb 16, 2003
    Land of Slugs & Moss
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    Han Solo
    1. Very true.
    2. Unfortunately true
  18. GCalo

    GCalo F1 Veteran

    Sep 15, 2004
    Northern California
    Full Name:
    Greg Calo
    With your average 4 bedroom house in this area of Northern Calif running $900K to $1million, it's highly unlikely even for those of us with multiple cars.

    With an Enzo it might be a toss up for some, though!
  19. zjpj

    zjpj F1 Veteran

    Nov 4, 2003
    Forget houses - try school tuition. How many here have paid more in school tuition over their lives than the MSRP of an Enzo?

    Private school K-12 + 4 years college @25-30K a year = more than $500,000. Per child.
    Grad school? Law school is $40,000 a year. Plus food and shelter.

    Ferraris are expensive, but kids are worse
    And both are worth every penny :D
  20. The Mad Hatter

    The Mad Hatter Formula Junior

    Feb 27, 2004
    Full Name:
    The Mad Hatter
    ...after my Brembo Big Brake Kit gets installed :D

  21. PassionIsFerrari

    PassionIsFerrari Formula 3

    Aug 15, 2004
    most of my equity is in my dog. Her name is Yukon and she is a Siberian Husky. I paid about $500 for her and 3 years later she is still worth around $350. Thats more equity then the F-car or the house (since I didnt put anything down on either). My intrest rate is lower on my F-car then my house. 6.5% on the house, 4.25% on the used F-car....gotta love the credit unions.
    Still, the highest out of pocket item in my arsenal is still my gold tooth. Paid about 1,000 for it.

    Sarcasm anyone?
  22. matkat

    matkat Formula 3

    Mar 18, 2003
    Full Name:
    Dave McGuire
    I paid more for My 355 than I did for My house but the house is now worth over 5 times what I paid for it.
    Dave Mc
  23. venusone

    venusone F1 Rookie

    Mar 20, 2004
  24. GaryReed

    GaryReed F1 Rookie
    Silver Subscribed

    Feb 9, 2002
    Full Name:
    This thread reminds me of a poster from the late 1980's.

    A red Ferrari 328 is parked in the driveway of a run down, shack of a house, and the owner is sitting in a chair up on the porch.

    The caption read something to the effect of:

    "You've got to have priorities!"

    That was a classic. Anyone got a picture of it?
    I looked on eBay, but no luck.
  25. Tubi

    Tubi Formula Junior

    Jul 1, 2004
    Full Name:
    Personally i think that would be a very sorry situation to be cant come before necessity!!

    - Car - depreciating asset (in most cases) lose money as soo as you buy
    - House - Wise Investment!!!

    makes me laugh though when ppl own a ferrari/exotic - but are struggling to pay the bills.......Each to their own though i guess.
  26. Fan512bbi

    Fan512bbi Two Time F1 World Champ

    Mar 25, 2004
    Full Name:
    I think our very own Rob would have something to say on this subject.

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