Does anyone here make under 6 figures and still own a Ferrari?

Sure it's a matter of priorities!

I make WAAAAY less than '6 figures'....pay 35% of that to the ex to keep the kids, and I have three 308GTBs...

But I live in a dome tent over by the railroad tracks........look for the trash barrell fire....




So go getcha one!

Welcome brudda, this is a good place to hang out and find a good car.

 

Eat a lot at Taco Bell, places like that......

Look over your budget, move to a total cash (no credit purchases) position, and take it from there...

I did finance my first one but the last two were cash buys.....

 

My guess is that if people on F-chat were willing (not that they would be, nor would I expect them to be) to reveal thier yearly income, a surprising % would be less than 6-figure incomes.

Hell...I'm in that group.

 

My take home pay doesn't even take me home........LOL!

 

"A Ferrari" can cover a lot of ground, from several million to $15,000. Just about anyone can swing a $15,000 toy car and a daily driver. What are you looking for, exactly?

As Big Tex says, it's all about priorities. What's important to you?

 

It is very possible to own a Ferrari on less than 6 figures.

Some of these cars can cost a good deal less than a Camry, and not even necessarily a NEW Camry. The key is being able to work on it yourself if you want to do a "Ferrari-on-a-budget", and don't be fooled into buying a cheap fixer-upper that will need a lot of new parts. They will always cost more than saving a little longer and buying a well sorted car.

 

You've got the right attitude, and I agree, the 308 frankly does more for me than the 360/F430. You're also at a great point in the market cycle, because prices on 308s are quite low.

Moreover, the 308/328 are probably the least expensive Ferraris to maintain - although they can all bite your wallet on occasion.

If you're going to do it on a five-figure income, I'd make sure your daily driver is something like a Honda that's relatively new, paid off, and dependable. Also you'll want to find a good independent Ferrari mechanic nearby, or be your own mechanic if you have the skills, time, tools and space.

With regard to what to buy, if you can't or don't want to stretch into an '86-'87 328 then the '84-'85 308 QV would be my recommendation. No more depreciation, reasonably reliable, and the Bosch FI makes them nice to drive. The 1980-82 cars will be the cheapest, and slowest, but in some ways they're a deal...

 

This is a sneaky way into the popular 'how much do you all earn' thread !

This time it is a little more constructive and to look at it another way :

If you could afford any new car (financed or otherwise) but want a Ferrari -it can be done - its just that with some of the lower value cars it helps to be able to do some or all of your own maintenance

There's a guy who asked a very similar question yesterday in the 308 area

 

Yep, 308 and Mondial very do-able on a 5 figure salary.

 

Wow! You've got enough money to blow on Taco Bell? Here, now I feel foolish having to save up and buy my taco ingredients in bulk from the wholesale club...

 

Goodman,

Come to Giovanni's next month (see Georgia section) and I think you will see plenty of F cars.

 

Well, once a week....I splurge......

If I don't need a new set of spark plugs.....

 

Where is this $15,000 Ferrari that you speak of?

-Paul

 

Is that per week or per month ?

 

There's a $20K blue 308GTB in FerrariAds right now....

Lots of beat up GT4s sank to $12 - 14K for awhile but they are trending back upwards now......

I couldn't get financing on a pretty nice black/black one once, at $19K.....

 

Are you referring to monthly? Gross or Net?

 

Oh no fair! LOL!

Thanks for answering, "Mr. One of each kind".......

Hope all is well, are you going to Marie's party tomorrow?

 

I make less than a McDonald's burger flipper and own a 328 GTS.

The keys:
-Don't waste your money on travel, fashion goods that wear-out or go out of style quickly, and/or newly released electronics.
-Save/Invest wisely
-Work for a while during your 20s/30s in jobs that pay well.
-Marry someone who will work in a good paying job while you persue your dream job and buy F-cars.

Worked for me!

 

That guy in California that wrecked the Enzo was apparantly not actually "making" anything whatsover -

but he was a great wizard at "creative financing", to hear the Bank of Scotland tell it.

 

You probably don’t want to go for a Boxer!
Seriously though, as lots have pointed out, it’s a matter of priorities.
Most guys will initially prioritize on wife, kids, and home. A ‘just for fun’ car is generally fairly far down the list, but once you have the wife, kids, home thing squared away, why not! You just need to be sure you won’t find yourself in a situation where the wife wants a new stainless steel kitchen, finds there’s not enough $$$$ in the checking account, and looks at the car, and you, with a ‘You just had to have that thing, didn’t you!’ look. Hmmm, not going to be a fun time tonight!
As for owning one on a less than 100K income, I’ll bet lot’s of guys here make less than that, but have balanced their personal finances in such a way that the car doesn’t pinch them. As several have pointed out, a decent 308 can be had for the price of a Camry, their mostly reliable (I saw mostly because they are Ferrari’s) and upkeep is reasonable as long as you don’t drive the legs off them every day.
So sure, it can be done! But just remember to let your wife pick the color she likes!
John

 

Your story is really freakin me out... Are we related???

 

Good question.

Most 6 figure people drive Lexus don't they ?

Guy Webster
Pasadena

(did you hear the boom on re-entry?)

 

I heard it. I though it was an earthquake...