Budgeting around the dream... Worth it?

I gave the short version

 

Human nature. When you're working hard and making a lot of dough, you reward yourself with toys. But then you get old!

 

I sure wish I had a wise person around to tell me to smarten up a little. I think the fact that my dad was financially successful in life but never had a day of fun and worked until almost the day he died that had a negative impact on me.

 

I believe it was Robin Williams who said cocaine is God's way of saying you have too much money.

 

so crack is God's way of saying you have too little money?

 

You got that right.

More advice to the OP that he/she should heed...

 

Robin Williams may have said that, but I am going to say that Ferrari ownership is God's way of saying you have too much money

 

Agree, and would add, that you (OP) would not enjoy the car as much. Either worrying about if this or that will break, driving it less, or deferring maintenance...T

 

I agree with Dave Ramsey. Baby steps!

 

I dunno. I think it is more about priorities. Look at these guys who purchased old Ferraris when the going rate was a years salary. If you’re single and motivated, go for it. If your married with kids, you have other priorities.


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I agree with the priorities, well said.

 

OP you can do it on your budget. No need to put aside a lot for maintenance. Once the engine goes, just put in an LS7. The people here have already given the OK on doing such a thing not that long ago.

 

There's nothing wrong with budgeting around something you want. We all have different priorities. I bought a 328 having never seen or driven a Ferrari. Kept a couple of years and put probably 13k miles on it or so.

But the hidden cost of driving it took some of the fun out. There's a reason most of these cars are low mileage.

Doin' stupid things is fun lol good luck

 

No - just an indication of skewed priorities; I budget nearly as much for my cars as I do for keeping myself going! Spend waaaaay more on the cars than clothes, shoes, etc. No sacrifice, just my choice of what makes me happy. But I did have spare cash to pay for the car when I bought it.

 

Clothes, shoes, etc are a necessity - is a Ferrari?

 

Ferrari ownership is much more enjoyable when you dont have to worry or budget for maintenance or car payments. Sure its still painful to pay the price of unexpected maintenance, but driving around with the dread of what if this or that totally kills the enjoyment of the car.

 

Good point

 

Yes.

 

This post should be required reading and re-reading for anyone who aspires to Ferrari ownership. It's the most important thing I learned on F-chat before buying our Cali, buying is only one part of the equation; maintenance, repair, care and feeding is the other. These cars are awesome. You don't want to be driving a Ferrari around thinking about dollar signs. That'll distract you from more important questions like "How sexy do I look in this car?" "Do my shoes clash with the interior?" "Where is the nearest tunnel where I can do some high speed, high RPM runs?"
T

 

LOL, I'm not talking about actual necessities but extravagances in those categories. And yes, my Ferrari is part of my 'happiness/wellness' budget!

 

I have to agree, if it is so close on the purchase how much is left in the bank to cover the untimely repair for $2k - $3k. Plus the insurance will be a bit higher than the Fiat currently owned. I would guess that most folks here buy Fcars out of "extra" money not using all their savings. Wait a few years until the purchase is less challenging and you will still have money left after the purchase. IMO

 

OP made one post a week ago and hasn't bothered to recheck this thread, wasting time of those who took time out to help.
not sure if he's really serious with the question.
then there's a recent thread about selling salvaged Ferraris. Also one post with no follow up.

can I suggest a rule stating that new members must have 10 posts before starting a thread? Cuts down on troll thread.

 

72 posts and 8 days and counting...that's one heckuva troll job by the one-post only OP.

 

While this thread started off with a troll post, I found the posted information valuable.
All of us Ferrari owners are of means and we have different ways of accomplishing our goals.
It was interesting to read others perspective on the subject of financing or buying a Ferrari outright.

Shamile

Freeze...Miami Vice!

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... i guess we should not restrict new members' ability to start thread then?....
(first world problem)....