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Discussion in 'Ferrari Discussion (not model specific)' started by leroy105, Jan 15, 2021.
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My Ferrari (Mondial t and 456) both cost less in the long run than my Toyota, Acura, and Tesla.
Depreciation is your friend. + Having blessed wrenchers within 10 minutes of my house was the key. California is what? 70K? Say it depreciates down to 45K -
35K is nothing to fulfill a dream. Get it, especially with what, PenFed offering 2% interest?
I got loans on both cuz money was free. Paid both off and now can sell for more than I paid for either.
I got the Mondial T for 27K and 456 for 43K.
I just paid for repairs/maintenance - that was FAR LESS then depreciation if said I bought a brand new Mercedes.
I love Ferrari just on this fact alone.
I got "PAID" to drive two Ferrari around. Thank you Enzo, bless you, and may you rest in peace.
P.S. Now, of course, many say my cars are the ugliest two Ferrari around, so maybe it was fitting I got paid.
Whatever weed you are smoking, you should adjust your opinion, because you can own a 488GTB on a $200k salary and this is my third Ferrari (360, 458, 488). Granted these are not the "higher end" Ferraris like the TDF, 812, etc. but within reason, owning a Ferrari is an achievable milestone.
Since we are "showing off" I have had four M-Bs, six BMWs, two NSXs all on that same humble salary.
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I just filed 2020...net income equal ZERO....that's $0.00
Three daughters in college next year or, to F-car enthusiasts, a 458 Spider spent in tuition. That's after a collective 17 years of private school tuition at $44k/yr. My exotics are parked in my daughters' well educated brains...for now. Different priorities, I guess. I look forward to spending "tuition" on myself in a few years and joining the ranks of wide-grinning Ferrari owners.
No, same priorities.....I think you will find most of us take our children’s college education very seriously. I would sell one or both exotics if needed to fund our girls through a bachelor’s degree. We have a daughter at Texas A&M in her junior year studying Chemistry and one just starting high school.
compare buying used ferrari vs leasing new nice sports car. something like c8, cayman, m4, etc will lease between 1000 to 1500 month all in over 3 yrs or about $50k total. buy cali t that stickered for 250k for 150k and keep same 3 yrs. then sell at 100 and lose same $50 depreciation as wouldve in lease. so comes down to what do you want, a new c8 or a used cali?
exactly. an FF or 430 etc will be much cheaper to own for the next 3 to 5 years vs brand new range rover, escalade, AMG, etc....
These damn kids.
I had to "bribe" my oldest daughter to enroll at Princeton where she was recruited for the women's soccer team. She had nine other offers, most with full scholarships, but I told her that I would pay the freight for the Ivy - they do not offer scholarships, only need based grants and I did not qualify - everyday of the week. She's a computer science major, a two time Ivy League Soccer Champion, and has promised me a Ferrari someday when she hits it big, assuming I do not beat her to the punch.
All right! Chem major a million years ago. Make sure she does undergrad research to get the full experience...T
Been there plus 3 weddings....then it was my turn. I went entry level but love to have a convertible so have a ‘19 Portofino and enjoy every minute in it! My wife likes it much better than the 911 Targa 4 GTS I traded for it too.
To OP, it appears as though you probably value the money more than the joy that accompanies ownership. On that basis, I would pass.
I was like you in my 30’s. Worked 90-100 hours a week building my businesses. I didn’t want to waste a single dollar, and so I hoarded cash. The only way I let go of a nickel was to get a better grip. I’m blessed with scant few regrets, but chief among them was that I waited 10-15 year too long to fulfill my lifelong dream of owning a Ferrari. When I bought my F12 almost 4 summers ago, I immediately realized my mistake and dramatically adjusted my life goals. I decided that I would much rather die with less money (perhaps even far less money), if it meant that I could experience the joy that these cars bring me. They are my passion and I have lost my mind over them. I go to sleep thinking about cars, and when I wake up, I’m thinking about cars. So now I am committed to making up for lost time, accordingly since that first purchase, I swapped the F12 for a new 812, added a new Performante, added a 2005 Ford GT, added a Dodge Viper ACR, my 765LT should arrive next month, and my STO should be here in Sept. I spend exactly zero minutes thinking about how much these cars have “cost” me, I’m too busy enjoying how they make me feel. In sum, it all depends on what’s more important to you, money, or passion?
Last point, I don’t get caught up in percentages of income or NW. Everyone is different (look at Shark, he should be an inspiration to anyone with a passion for cars). To be clear, I don’t advocate being an idiot with your resources, but if you have some cash/assets, modest expense structure, a strong career/business trajectory, and a passion for cars, I would not wait another minute.
Your comment about the “Chevy Badge” came off pretty lame/ignorant, suggests you are more interested in the perceived “status” that you believe the F marque conveys than the utility, form, and fun of the vehicle.
To be brutally honest with you, driving a California at 36 y/o will just make you look like a poser in a modern late model “Chick’s Ferrari”.
If you spend your money trying to “look rich” you’ll never actually “be rich.”
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We are trying to get her hooked up with a Prof now.....wait that came out wrong....
We are trying to find research opportunities for her....but like everything else, Covid is a problem.
I guess I didn't read that last line about the Chevy badge. I agree with that part of your post.
Besides, you could always put SF shields on the front quarter panels of the Corvette.
Lots of calories being burned on this analysis. Sort of comes down to what you value in life. #1 - Is the family taken care of if the car burns to the ground? #2 - Will you have to sacrifice other (high value) lifestyle items or even necessities? If you answered YES to #1 and NO to #2, stop thinking and find the car you want.
I've owned 4 Corvettes in my lifetime. They are very good cars, better than 95% of everything else.....but I don't see them as aspirational, they aren't special enough. Same with Porsche (with 2-3 notable exceptions....and no a garden variety GT3 isn't one of them).
One of my cars is a one year only design with 142 produced worldwide. I live in a metro area of 4.5 million people, and I'm aware of 2 others in the area....that is one of my definitions of a special car.
It would be nice if you tell us what car you're taking about
1999 Lamborghini Diablo Roadster......although the example would apply to alot of cars, ex Challenge Stradale...although the production numbers are much larger.
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Glad you came on board! Better late than never! Enjoy, enjoy, enjoy!
Well said and thank you. As a “younger” Ferrari owner, I greatly appreciate this advice and words of wisdom. Enjoy enjoy enjoy! *responsibly LOL