At what point does a new Ferrari become attainable?

To expand on Remix's point, it is very rare that anyone makes any headway into wealth with wages, even high wages. You must invest to get some money available for things that you want. It appears that you have the correct mindset for that so you are well on your way. Living at home is a great way to save some money when you are starting out, although I did not go that route. I would suggest getting active in your local car scene to get familiar with the cars and people that drive them. You might get more inspired or you might find it is just not for you. Have fun!
BT

 

Spot on! I don't own a Ferrari currently, but have another exotic manufactured by Audi

 

Sell the M3 and buy a 308.

Problem solved...............

 

ditch the BMW and get something you can afford. if you have extra money invest it in something that will not depreciate. And you can afford a Ferrari when you can pay cash for and worry about how you are going to replenish the bank account you just took the cash out of.

 

Earlier in my life, I spent 1/3 of my liquid assets on a toy -- a 480 year old suit of armor. Thinking back, it was a crazy thing to do.

 

I think the kid wants to pick up some ladies with his F car. try www.attractwomen.com.au mate... youll save several 100 K in the long run.

BTW, nothing wrong with Japanese cars.

 

Could be... but maybe not. He may be a bit like me, loves cars and would like to be able to own a Ferrari one day. I am not ashamed to admit that, although I could easily go out an purchase a nice 308, 328, or Mondial, I will not until I can do it with "pocket money." Until then, I will be content with the 1972 442 I am building, and the 1989 ASC/McLaren convertible I drive on the weekends (pics available at: www.FQuick.com/ProTouring442).

My wife and I are currently in, as Andrew Carnegie called it, the wealth building stage of our lives. Other than our mortgage, we only have a loan on the ASC. Our house is well within our means, leaving a good bit of money to save. We have few consumer goods, and we have little need for them. hell, we don't even have cable or satilite TV! Just a DVD player and a VCR, so if it isn't on one of those, you can't watch it at my house! As for the ASC, I wouldn't own that if it weren't for the fact that my wife has multiple sclerosis. We used to ride a motorcycle together, but she can no longer ride due to the MS. Wanting something to take the place of the bike, I bought the ASC for aroun 10K, less than most people pay for their daily driver (my daily driver is a company car). We are also working on starting our own business!

Like me, he probably loves cars and figured that a bunch of guys who can afford a Ferrari probably have a few good suggestions on how or where to invest. In our case, after reading the books "The millionaire Next Door" and "The Millionaire Mind" by Dr. Thomas J Stanley, I have decided that we need to talk to my attorney as to our investments. I am sure that, if doesn't want to advise us on actual investments, he will be able to send us to someone who will look out for our interests.

We also plan to move to Oak Ridge, TN in the next couple of years. This coming week I will be contacting realtors in the Frederick, MD area to have a good selling agent come look our house over and reccomend changes that will make our house command top dollar (anyone know of a killer seller in the Frederick, MD area?). When we move, I plan on only putting 20% down on the new house, and investing the rest of our profits.

My point in all of my rambling is; please don't take his questions to lightly. Those of us who current,ly have a paucity of funds in our Ferrari cookie jar may just be looking for a good way to increase thos funds.

Shiny Side Up!
Bill

 

I understand what you're saying here... most of the people started giving you advice on how to get your Ferrari now, or why not to get it now, even though that's not what you're asking.

... But, I don't get this... what does it mean? It seems like you're asking a question whose answer varies for everyone. If so, then only you can answer this question for yourself.

~shahedc
.

 

I hear those classic Mini's are a blast to drive...and they aren't expensive as you think! I see some for sale for about 8k...

 

just have to say, well done!

forget people telling you to wait until you're 50 odd to do what you want... can you imagine the possibility of driving a Ferrari in the year 2030?

20 years ago i remember my parents complaining that laws were getting too stringent. 10 years ago people were complaining about stupid people on the road. nowadays the big deal is technology AND laws AND stupid people... it won't be long before driving the way we have enjoyed is basically impossible. so, forget financial concerns, if you have the means i would recommend getting as much spirited driving done in the next 5-10 years as you can.

so, i say do it now if you can. you only live once, and even that doesn't seem to last that long.

 

How much of a person's wealth is "disposable income" varies according to personal choice and situation. The earlier reply about spending 10% of one's liquid assets on a toy seems to be a reasonable guide, assuming that the money is replenished within a year or two.

 

IMO the short answer is when you can afford to pay cash for the car without compromising your lifestyle. Not to say that you would necessarily pay cash but having the means to do so and still maintain a certain lifestyle means you're probably there. IOW, if you are ready to pay cash then a lot of other things would have already fallen in to place to allow you to do so.