Ferrari discussion with the wife coming up

"so she can understand this is also an investment, not a car that is going to depreciate in value. "

Most women are way too smart to believe that line but good luck with it!

 

Hey, whichever way you look at it, you will be made to pay for the selfish act of owning a 308.

Just do it.....It is worth it

 

This is why I'm happy to be single. Get the Ferrari (vintage land cruiser, motorcycle, etc)... then a dog (coming in April)... then I'll have a meeting with the Ferrari and the dog about their thoughts on me getting a woman. I'll have to set a meeting with them to get them to understand why having a woman around would be a "smart investment". And I'll get a PPI done on the woman from family and friends to make sure she's a good fit and not a threat to any of my relationships (Ferrari, dog, etc)

 

To really help you, I need a picture of the Ferrari and potential wife.

 

I agree LOL

 

Wanted: Attractive girl aged 21 to 35 with good job and Ferrari.
Please send photo of Ferrari...

 

Timing is key. If you wait much longer, there could be a mini van purchase that will change your priorities!

 

Good luck

Cars make poor investments for a variety of reasons, even Ferraris. You will be lucky to keep pace with inflation, especially after factoring maintenance costs. You can definitely make the argument that you won't lose much money if you have to sell, but forget the investment aspect. When I bought, I was fairly confident that even if the prices went down I wouldn't lose much, which was good enough for me. I financed, but only because at 2% I make a lot more by keeping the money invested than I would if I took it out to pay for the car. I would not have done it if I didn't have the ability to pay for the whole thing as I did not want to get into a situation where I'd have to sell the car quickly if I lost my job or had some other financial issue, as then you lose twice.

 

"" I financed, but only because at 2% I make a lot more by keeping the money invested than I would if I took it out to pay for the car. I would not have done it if I didn't have the ability to pay for the whole thing as I did not want to get into a situation where I'd have to sell the car quickly if I lost my job or had some other financial issue, as then you lose twice.""


Yes. bobzdar ...please explain the 2%. My cash invstments are are earning less than 2%. Unless you are talking long term ?

 

You wanted it since you were 7?

Settle up on the student loans and then go buy one. You don't need her permission.

 

" You don't need her permission."

LOL! That's right up there with "A Ferrari is an investment!"

 

I tried the investment thing with my wife, and she knows I do my own repairs so I threw that in to show how much less it would be for me then the people who have to pay a mechanic. Well, she has a Ph.D. in physics and an M.D. degree, and did some investigations, showed me spreadsheets with numbers that went back to the early 80's. Bottom line, she didn't buy the investment idea and proved it wasn't a good investment.

So then I pleated to her that I always wanted a Ferrari from the day I had conscience thought and how it would make me feel better and I'll be a nicer sweet guy. That went over like a ton of bricks.

Finally I said, I have the money and I'm going to buy a Ferrari with or without your consent.

After I picked it up she loved the car, and after I took her for a drive that won her over.

So just do it, buy your Ferrari, drive it, and enjoy it.

 

Try the Pentagon Federal Credit Union (penfed). A friend of mine got a loan at <2% from them on a ten year old Porsche.

 

Ha HA HA HA HA HA.........................

You might try the line: "Honey we will have our own blackhole right in the garage!"

 

+1

 

"Finally I said, I have the money and I'm going to buy a Ferrari with or without your consent."

Obviously, if it's all you're own money, what you do with it is your business; it sounded to me, from the OP that that wasn't the case but perhaps I misunderstood.

My wife didn't care either way since it was totally money from my savings, not joint stuff. She also likes the car and drives it fairly regularly. When we go together somewhere of any distance (not just to the store locally), usually I drive there and she drives back.

 

It's the only car I have ever purchased where I know I can at least get what I paid for it (probably much more now). Yes, there have been expenses, but that's the price of driving one.


That being said, you never know what the market is going to be like in 10 years. People said Dino's would never be worth as much as they are, but here we are. Yes, they made a zillion 308s, but how many are still in good shape or were maintained well, how many have carbs, or how many are GTBs (GTBs are awfully popular these days)? Who knows what the answer will be in 10 years, we may see early GTBs and Euro QV GTBs getting double that of any other 308 just like 206 Dino's. Dino's at Arizona the other day outperformed Daytona coupes at the auction! Unbelievable right. Who saw that coming.

 

True that. Get while it while the getting's good.

Quality asset is the better way to describe the 308 series at present. Buy the best car you can find of a desirable model year and configuration and it'll hold value at the purchase price, IMO upward movement in market value will track inflation for the next few years and then who knows.

I know where you're at - marriage brings compromise. Mrs. and I had a lot of priorities other than cars for many years and I couldn't have afforded a Ferrari under any circumstance. We did have the agreement that when I reached 50, had attained a reasonable degree of success, and with our financial house in order I could have any car that we could comfortably buy for cash. When the big day came and I told her that I wanted a '60s-era Ferrari she was shocked and somewhat resistant but honored her end of the bargain.

To make it short, market value for the '64 330 2+2 that I bought for $32.5 K in late '02 took off and I cashed out at $80K five years later. Still have pangs of regret at times but also love and am happy with my '83 GTS.

Do it and and don't look back but tread carefully in the process. With a financed car you'll want minimum big ticket repair risk - $$$ repairs and maintenance come with any Ferrari but you can minimize risk by being ultra careful and choosy.

 

I told my wife I might be going through mid-life crisis.

I said I needed something that was "at least 18 years old" and "could go topless." She said go buy your Ferrari. It worked....now we fight over who's going to take it out.

 

Bobby,

You have your priorities in the right place, despite what the boys here say, and I do me boys. Marrying and having a family is about maturing and working for something bigger than you. Buying a Ferrari is about buying a toy. Nothing wrong with that per se but there's certainly nothing big or noble about it either.

First off, please don't consider the car an investment. If you buy right (low miles, a special model, etc.) then yeah, it will hold some value. But as you put miles on it, the value will be affected. The only 308 model out there that can defy the gravitational pull of added miles is a glass Euro dry sump 308. All others will at the very least go sideways in value as you put the miles on. More likely, the value will drop. It just will. That said, the 308 is becoming loved by the public which will put upward pressure of values. Just don't count on it.

And on that note, be careful about buying a car with over around 50,000 miles. I know I will catch flack for this but the market has spoken on these cars. They are hard to sell without a big discount. Just know that going in. Selling a 308 with over 50,000 miles can be challenging.

I tell people who are not familiar with Ferrari ownership, "Owning a Ferrari doesn't make you rich, it makes you poor." Resources will have to be directed to the Ferrari. Maybe not a lot, but it will require money (outside of the car payment) over the time of ownership. Do you know anyone who owns a boat? You will be in a similar situation as your boat owner friends.

As for the wife, I would present it more around things and activities that make you happy. A man should have a hobby or two to keep him occupied.

When I came home recently with a big service bill it sort of rubbed my wife a little but after she reflected on it she realized, I don't travel with the guys every year to Vegas or Moab or whatever, I don't go out drinking, I don't buy a lot of other toys like our friends do. The Ferrari is what I do. Every man should have something outside of the family that makes him happy. If the Ferrari is it for you, present it like that.

-F

 

I don't think my wife realized how much she would enjoy this car before we got it. Like many men here, I had to wait until the kids were mostly raised before there was even time to enjoy a two seater. Now my wife loves to go for rides with the top off the car. She gets dressed up for the occasion, has a special hat she wears and even though she doesn't say it, she likes the attention the car gets. I think it makes her feel special! What woman doesn't like that!

 

Perhaps your wife can speak to mine? Mine isn't fond of taking the Ferrari.
The one part that rings true is the wife likes the attention she gets riding in the car.