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Gave up on my 360

Discussion in '360/430' started by GLEXPilot, Aug 25, 2009.

  1. GLEXPilot

    GLEXPilot Rookie

    Apr 20, 2009
    31
    Chicago, IL
    Guys please help me feel like I did the right thing here.

    I had my perfect 360 picked out, I absolutely loved the car, happy with the price, and I was ready to buy. However I was up at night worried about some of the cost associated with it, I was worried about a major mechanical happening.

    In the end I decided to pass on the car, and will try again in the spring when my finances should be in a little better order.

    It was the hardest thing I have ever had to do, and I hope that I made the right decision. Next spring things should be a little more liquid for me, and I should be more at ease with the purchase.

    In the meantime I will be looking at pictures of all your cars and drooling.
     
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  3. amslb182

    amslb182 Formula Junior

    Oct 3, 2004
    582
    Ct
    Full Name:
    Andrew LeGrant
    Definitely the right thing to do. It's better to wait to get a car you can afford to fix than have that one sitting around broken.
     
  4. Ferranki

    Ferranki Formula Junior

    Mar 9, 2007
    762
    Buffalo NY
    Full Name:
    Ken
    good call
     
  5. amenasce

    amenasce Two Time F1 World Champ
    Silver Subscribed

    Oct 17, 2001
    29,408
    Full Name:
    Joe Mansion
    Why buy the car now ? Chicago is about to enter its non driving season for a good 5 months..
     
  6. joba

    joba Formula Junior

    Jul 23, 2009
    600
    NY
    No rush in this environment. In March of 2010 the car would be another year older and incur seven more months of depreciation. Thats without driving it during the winter.
     
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  8. AceMaster

    AceMaster Three Time F1 World Champ

    Feb 6, 2009
    31,041
    Calling a penalty
    Full Name:
    Mike
    If your instincts told you to back out, then it was definitely the right thing to do.

    Without a doubt you will need a reserve in the bank for service if needed, so better to wait until you have that cash on hand.
     
  9. Easyrider7467

    Easyrider7467 Formula Junior

    Nov 3, 2005
    968
    Northen N.J.
    Full Name:
    John
    I feel you did the right thing....

    There will ALWAYS be a 360 available
    The spring is the beginning of the driving season.
    Winter is jsut about here, esp Chicago..
    Maybe the cost will be down a bit more by then too....
     
  10. Bullfighter

    Bullfighter Two Time F1 World Champ
    Lifetime Rossa Owner

    Jan 26, 2005
    20,700
    Fullerton, California
    Full Name:
    Jon
    #8 Bullfighter, Aug 25, 2009
    Last edited: Aug 25, 2009
    Exactly. Let someone else store it.

    I also agree with the other posts in that you don't want to get into a used Ferrari not knowing if you can afford it.

    BUT -- make sure you don't fall into the trap of never buying your dream car because something could go wrong someday. You'll end up in a Lexus, Corvette or maybe a modern Porsche. Nice cars, but at some point you'll realize you sold yourself short. Life is short, etc.

    When I was shopping for mine, I had a call with Steve Barney in NC, who has been around Ferraris -- and first time Ferrari buyers -- since forever, maybe longer. I told Steve I was pretty sure the 328 he had in stock was exactly what I would have ordered, but he knew I had come out of a Porsche 993 and was hesitating. It's easier to shop for Ferraris than to commit and have one in your garage. Steve basically said his 328 was a good car, and the Porsche was a good car, but ultimately they're different, and you either cross the line to an exotic or play it safe.

    If you can pay cash for the Ferrari, have a daily driver, have your mortgage under control, have a good income and have $10K cash (not college money, not food money, not LOC, etc.) available immediately to cover contingencies, do it.
     
  11. SrfCity

    SrfCity F1 Veteran

    Nov 1, 2003
    9,842
    Orange County, CA
    #9 SrfCity, Aug 25, 2009
    Last edited: Aug 25, 2009
    Nothing worse then those sleepless nights stressing about a purchase. Not worth it. The right car will find you at some point.

    P.S. - Try to hammer a better deal so that you could bail easily if need be and break even. That way you don' have to wait ;)
     
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  13. mwr4440

    mwr4440 Four Time F1 World Champ
    Rossa Subscribed

    Jun 8, 2007
    43,687
    Bavaria, The 'Other' Germany
    Full Name:
    Mark W.R.
    If your gut said "NO," you did the right thing.

    Relax, work it out and try again later.


    We are Proud of you. :)

    You will make a GREAT OWNER when the time is right.
     
  14. mseals

    mseals Two Time F1 World Champ
    Lifetime Rossa Owner

    Sep 9, 2007
    24,468
    Kuwait
    Full Name:
    Mike Seals
    What he said.....!

    :D

    Mike in Kuwait
     
  15. Simon^2

    Simon^2 F1 World Champ
    Silver Subscribed

    Oct 17, 2005
    11,989
    At Sea Level
    Don't even think about buying a ferrari if you wont laugh about a $10K+ repair bill...

    Doesn't mean the money should be a joke, but you should view it as part of the absurdity that is FCar ownership

    Worrying about repairs will ruin your experience.
     
  16. Spasso

    Spasso F1 World Champ

    Feb 16, 2003
    14,612
    Land of Slugs & Moss
    Full Name:
    Han Solo
    Exactly, no worse than owning a boat and most people don't have a problem with that.

    Seriously, I don't think I would laugh about a 10k repair bill but I see that happening in the form of maintenance (if nothing else) in the future.
     
  17. tcannon

    tcannon Formula 3

    Feb 18, 2009
    1,740
    Norman, OK
    Full Name:
    Todd Cannon
    I think that you did the right thing for now. The last thing you want is to have your dream car become ugly to you because it represents a financial stress to your life. You want to enjoy it for how it makes you feel. But I will say that it does take a certain size balls to buy a Ferrari. By this I mean that not everyone can go forward with buying a car that has absolutely no practical purpose. You do not get one for a dependable car for work. You do not get one to deliver news papers or go to the grocery store or because it gets great gas mileage. It is a car that stirs your sole and fulfills a lifes dream just by sitting in your garage. It is a car that brings back the lost art of "taking a drive". The feel of the wheel in your hands and the smell of the leather takes you away to a place that other people will never understand. Whether it is a 308 or an Enzo, you belong to a rare Brotherhood that many long for but few take the step. Are they expensive to own and maintain? Yes, but that is the cost of admission. Will there be a huge repair bill every time you go for a drive? No, but anything is possible at any time. Getting into a Ferrari requires you to take a certain level of risk. It is not for the faint of heart. You must be smart in your purchase. Pay a little more up front to save more down the road. Buying a Ferrari is not the time to get cheap. Do your homework. Make sure the new love of your life has been well cared for and maintained. If you are waiting for a foolproof Ferrari to come along then you will never own one. So, in the end, you must not only need to be able to afford it without having nightmares, you must have balls to take the risk of the unknown. Good luck to you! When it happens, it will be glorious. ;)
     
  18. GLEXPilot

    GLEXPilot Rookie

    Apr 20, 2009
    31
    Chicago, IL
    That almost brought a tear to my eye!
     
  19. DriveAfterDark

    DriveAfterDark F1 Veteran

    Jan 1, 2007
    8,823
    Norway
    I did the same on a 355 planned purchase little while ago, reason being that a) I wasn't 100% sure of its reliability because of many mixed owner opinions (I don't think my wallet's fat enough yet to manage unforseen costs of Ferrari scale) and b) My dads business almost went down since end of last year and he needed some cash flow to keep it alive and he's priority second to none.

    You did the right thing. But we'll be back, hopefully stronger :)
     
  20. chrmer3

    chrmer3 Formula 3

    May 19, 2006
    1,718
    USSA
    Full Name:
    Chris
    Go with your gut. Its usually right.
     
  21. alessiogiorgio

    alessiogiorgio Karting

    Nov 24, 2007
    136
    Italy - Sweden
    Full Name:
    alessio giorgio
     
  22. thecarreaper

    thecarreaper F1 World Champ
    Silver Subscribed

    Sep 30, 2003
    16,455
    Savannah
    Full Name:
    I NEED A JOB
    yep, winter is coming, and the market is way down.....

    perfect time for me to buy more cars and drive the piss out of them all winter, when its nice and cool and the air is much more dense.

    exotics run better in the winter months here , carb cars especially.

    i feel bad for all you Yankee's up there with the snow coming... :)

    down South we drive MORE in the the winter time.


    good call to wait on the 360, perhaps you can find the exact car you want , as its very important to not compromise.
     
  23. The Ape

    The Ape Formula 3

    Feb 28, 2007
    1,758
    Los Angeles
    Full Name:
    Ape
    Good call.
     
  24. thecheddar

    thecheddar Formula 3

    Jun 29, 2006
    1,054
    Santa Monica
    Full Name:
    Cheddar, The
    Which is why you absolutely positively did the right thing by passing. That post was good counsel for a lot of things. A dream home, a sailboat, a Ferrari. If it's going to be a source of stress and anxiety rather joy and satisfaction, hold up.

    Spring will be better, man. :)
     
  25. Quadcammer

    Quadcammer Formula Junior

    Jun 29, 2005
    496
    Clifton, NJ
    Full Name:
    Oliver
    If deciding to put off a Ferrari purchase until the spring was the hardest thing you've ever had to do, you should consider yourself pretty lucky.
     
  26. Shamile

    Shamile F1 Veteran

    Dec 31, 2002
    6,563
    Lakeland FL
    Full Name:
    Shamile
    Dear Ferraristi,

    I sort of take a different view.

    Was it really really the car you wanted? ....not just the model but the price, condition, colors, maintenance records?

    Do you have the money to buy the car? Is your business or job safe? Is your wife happy with you?

    Then, when will be the right time? There will always be a reason NOT to do something. Then all of a sudden life passes you by.

    I assume all of the above is in good order as you wouldn't even be considering a purchase like this in this economy.

    Something will always break, a pipe will burst, the house AC will stop working etc etc....

    Yes, your driving season is winding down. So all those guy selling their cars will magically drop their prices ( if not due to economic reasons ) or just wait it out till spring.

    Sure, the car will depreciate till spring. It will also depreciate just after you buy it and still depreciate one year after you own it.

    Fcars are not an investment. They're only an investment for your local dealer...you pay them.

    Just weigh out real economic conserns...if you have them or if it's just cold feet.

    Good luck !


    Shamile

    Freeze...Miami Vice!
     
  27. Neonzapper

    Neonzapper F1 Rookie

    Oct 19, 2008
    2,531
    MD/FL/Philippines
    Full Name:
    Mykol
    We ALL have problems...look at the Sultan of Brunai. He has to buy the next Ferrari whether he wants to or not.
     

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