Financing

drama queen says what

 

Super_Dave,

From your previous rant you asked why you are getting 'harrassed'. Well myself and another poster asked you in good faith why did you do for our Porsche and McLaren.

Did you finance or pay all cash? Also why? I mean this is the same exact question you made, why do you refuse to answer?

 

*this*


Super_Dave, you asked people here what they did when they purchased their cars. People respectfully answered back. When asked the same question back very kindly (from myself and another member), you get offended and claim harassment.

...and I'm the troll?

 

haha Fail.

“The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge”

This was a recent auction
https://auctionata.com/intl/o/145950/1991-ferrari-mondial-t

in your attempt to be facetious, you actually yet again betrayed your lack of knowledge.

Super_Dave, you might find this very fascinating study about how the internet age creates a lot more "know it alls" that proclaim expertise in every subject.

http://www.apa.org/pubs/journals/releases/xge-0000070.pdf

 

I don't think so. The run-up in the market is a product of a lot of people having/making more money and thinking the economy is sound, and foreign investment, particularly the Chinese, who are single handedly running up real estate prices in certain areas.

And there's always those that use a car to make them look ______. Those people would second mortgage a toddler to try and one-up a co-worker, neighbor, family member, etc.

 

(sigh)

see photo

Super_Dave do you share an account perhaps with an older brother?

I'm thinking maybe that is what is causing the confusion?
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Super_Dave,

In full good faith. What is the purpose of your OP? You've said you want to know what Ferrari owners are doing and why (in terms of financing). You refused to disclose your own personal experiences on it (I'm okay with that, even though everybody else here disclosed) - Just appreciated at least you finally owned up to the fact that you are comfortable knowing if others financed or not, but you yourself are uncomfortable to disclose what you yourself did. (hence your repeated reluctance to reply to my question as well as 'RallyeChris')

It would have been easier for you to just have replied to me or RallyeChris and said you were uncomfortable with answering. I can understand why you hesitated, it would look strange for you to have asked the community a question you yourself were uncomfortable answering yourself wouldn't it? Maybe that's the deeper issue at hand here?

Without further digression...

Are you anticipating a 'fall' in values for cars due to over leveraging and want to prepare for it? Are you trying to gauge reasons behind the current market values? Or is it just a pure shooting the breeze type question? (I'm cool with that too)

Just trying to understand the 'why' behind the 'why' so to speak.

Thanks in advance. I hope you find this a fair and civil post and choose not to ignore it or flag it as 'harassment'

P.S.
I'll even give you that you don't necessarily want to know personally what people did (even though I felt it was implied in the OP) - that your question was entirely limited to just what people 'thought' other people were doing."

 

Dave,
Are many of your old posts just made up?

"I get asked less often now (no Ferrari, but one of my cars is always mistaken for one)"

 

Depending on your age .... everyone's personal financial situations are different. As I have grown closer to retirement .... owing NOTHING is my priority. There is no better feeling than being financially free and that usually means .... debt free.

The car I financed 3 years ago is gone. I am currently saving to pay cash for the next car on my bucket list. 458.

 

1+

 

Hi Dave,
The truth will set you free. If you need a co-signer for that '95 Corolla, just pm me and I'll see what I can do to help. Most of us here have been starving kids working our way up the ladder at one point or another and no one would hold that against you.

As far as the original post goes:

None of my cars are financed. They were all acquired through direct means. However, I have been told on more than one occasion that I am a complete moron and that is a dumb use of my cash. I like owning what I own and knowing that no one can take it from me. If you finance something, someone else owns it. You just get to use it. It's like perpetually borrowing a car. But that's just me and, as I said, I must be some kind of moron based on what others repeatedly tell me.

As to the trends: I have a friend who in his retirement took a job selling Ferraris at the local Ferrari dealership. He said that over 80% of the cars were cash deals. It's essentially a market for rich old guys who have made good money and they might as well spend some of it on a new Ferrari. There are worse things in life. Good for them.

To your question about Ferrari Financial: The reason that Ferrari started Ferrari Financial is not because there was a huge need in the market; it's because they were losing money to third party players in the space that they wanted for themselves. The way FF works is that they will finance a car through an authorized dealer. In turn, the dealers are expected to promote the service and get a certain number of buyers to finance through them. So, in essence, they are BUILDING A MARKET for financed Ferraris. What they are doing is helping the dealers sell used Ferraris to a new crowd while making money all the way. As to who is prime or sub-prime, I have no idea. I will say that I briefly considered a 458 at my local dealer that was a repo from Ferrari Financial. So think about that for a minute.

Anyways, that's all I have for that. Let me know about that Corolla.

EDIT: In Paul's defense, I think that he just wants to know where you're coming from with your thoughts and your questions. Guys like him and Statler have been around a long time and have seen more than their share of idiots. Most people here have at one point or another had to share a bit about themselves and where they were coming from to show that their opinions were well formed and well thought out. I don't think that anyone feels like we need to all agree on anything. Many of us are friends in "real life" as well and meet up at national events and through work travel. So while it is hard to be the new-ish guy, know that no one is trying to push you out; they just want to know what makes you have the seemingly staunch opinions that you seem to have.

The downside to this run up in prices is that FerrariChat has seen more than its share of asshattery by newcomers with no ability or intention of buying a Ferrari who love to rail against Ferrari owners as fools and morons, even saying things like they "need to get their heads knocked off financially." So I think that Paul and the others just want to know that your intentions come from a good place rather than one that consistently derides and puts down those who chose to spend their hard earned cash on Ferraris. I believe that there are other websites devoted to that sort of thing.

 

Well, it was just one car so I don't know if that makes it a real sample size. That said, it does show that it happens. And for the record, while I didn't scrutinize the car at great detail, it seemed fairly nice and was not at some bargain price, so it's not like it was cheap or trashed because it was repo'd.

 

I can attest to everything posted above, as I work for a Ferrari dealership. The vast majority of transactions are cash. There are some deals financed, and surely the dealership network wants to get some of that action. Finance terms are likely not as loosy-goosy as they were 10 years ago, so there are seldom defaults this time around.

 

Sherpa is gracious. I'd like to be more like that.

If one deleted every post and pm from fchat, there are more people on this forum than most that would give the same info and stories because they are true and there's no need to look at prior post to make lies consistent.

This place is incredibly accommodating to enthusiasts who want to learn but don't own. It's incredibly mean to people who puff.

Ten honest poor men are worth more than one dishonest rich man. Shoveling BS taints every future post and determines whether people decide it's worth answering questions.

If Dave has been lying all this time it absolutely makes a difference. Can it be fixed? Sure. But not with what's been in this thread so far.

I'm nowhere near wealthy by f-chat standards. Not even same zip code. That matters not one bit unless I'm trying to give advice regarding wealth about which I know nothing.


Apologies are in order to start fresh if postings have been dishonest.

 

All of this is very true to Fchat history. Hopefully we get the full story and everyone can move forward with the truth and a clean slate. I do agree that until it gets cleared up, bad stuff will always linger.

 

I don't understand the point in misrepresenting oneself. I have not seen anyone ask for "ownership credentials" to be part of a discussion. I think the people who are here pre-purchase are smarter than I was. I wish I would have come here and chatted with people before I bought my car. Not that I have any regrets, but things I found troubling/worried about wouldn't have been.

I find everyone here to be very open with their opinions and advice, and I'm certain plenty are positioned far better than me financially. It's supposed to be about the cars, not the person.

 

Who cares either way if you financed or bought cash? Bottom line is you own the car dream . If someone wishes to work and sacrifice to afford monthly payment , so be it . I would venture to say he's not a poser.

And there are plenty who say they paid cash and didn't .

A Ferrari is a ferrari , old vs new , owned vs financed

 

Puh-leeze. You have no idea how many times I've thought about changing my username to Waldorf.