I run a business where revenue cycle management is key so everyone is on point here. I can't argue with anyone point of view as they're all valid. Congrats to Op, speciale is one hell of a car, I know bc I own one, and I also borrowed from FFS.
thanks Mn-027 can you elaborate your FFS experience.. I know everyones comfort in monthly payment is different.. in your experience what would be a reasonable number for a month? some one mentioned a calculation based on the depreciation and the interest amount paid over time..
All I have to say is, every time I do something stupid, and on emotion, I earn money. Every time I do something because it's the adult thing to do, I lose it hand over fist. I'm in absolutely no position to give financial advice, but to anyone who may casually read this thinking about financing your first Ferrari purchase, the cost of entry is the easiest part. Keeping the car in a sellable and usable condition is the real drain on the pocket book. I assume OP knows what he's doing with an fcar. Especially if he's after a speciale.
Good points. What I am about to say is 100% against any logical financial management. If I were in my 20s...and I wanted a Speciale..and that 'wanting' was a driving force in my work ethic, focus and ambition I would absolutely get one. I am in my 40s. If I never had the passion for cars there is no way I would be where I am today. I have used cars as my carrot. Even today when I can pay cash for most anything that my heart desires I still motivate myself with cars. Example: This year once I accomplish my goals I can reward myself with a new toy. To the OP. If that Speciale makes it so your obvious burning desire burns brighter...get it. You have the time to make more prudent financial decisions the older you get.
"point me to the "risk free 8%" return asset" VKI its a muni bond fund, just under 7% a year tax free. Paid out the same distribution for years. There ya go
