New job, first Ferrari?

saving money isn't sexy, having money is
Save your $$$ you'll be happier in your later years.
There's more to the monthly note, like Insurance, yearly registration fee, annual maintenance, and of coarse unexpected maintenance.

 

Ahh............... I get it now.

 

I all seriousness, if someone can afford a 30k car and is really motivated by cars, then a 60 k car seems like next step. The advice here that a 60k used Italian car is just the begining of expenses needs to be noted. Its going to cost you minmum of 5k per year to keep and some years more.

At age 28 I had 120k and a fiance, I spent 90k on my boxer before she could say no, actualy at the time she apporved. Nowadays I have all the items listed in the post above and have had 21 great years of fun.

Sometimes if you a re really into cars, buying and owning a great one is a motivator in terms of work, and a reward. Plus the thought of having to sell it because your earnings didnt work out seems like an unfathomable failure.

Yeah some years I couldnt affords the maintanance I woudl have liked, but it pushed me to just rty harder, so that the costs of the ferrari would be not so relevant.

We work not just for retirement, but also to enjoy, especialy when young. If you are really motivated by cars, and you can afford without debt to buy it, ahead of a house etc, if thats really your thing then do it. But also have a daily if you need one. Lets face it if you really love it, you will want better faster cars later, so will have to acheive even more. Just dont do it on debt. Debt is like a thumb you will struggle to get out from under.


As to which one to buy, a 328 is not going down in value and will always be worth good $$$, and in the scheme of things is easier and less expensive to maintain, plus thye look great. Straight line power will feel lacking, but if you have twisties and can wind it out its going to be fast and fun, you just ahve to work for your speed.

A 355 will be just as much fun to drive as a 360 if not more, less to buy but more expensive to keep if you cant do the work yourself. Same with a Tr. The 355 and TR probably wont depreciate more, a Tr will probably go up a little. The 360 will depreciate further. I would suggest try a few, theya re all very different. If you keep an f car 10 years it will cost you 50k to keep. On the otehr hand lots of people spend more than 5k per year on all sorts of entertainment and have nothing left at the end to show for it.

I wanted one from age 7 when I doisciovered what they were. Started with a camaro, then a supra, a vette and by 28 got the boxer, I am happy to have had the fortitude and good fortune to have been able to have kept it all these years. Find the one you like, if you can buy it without debt and feed it go for it.

 

Great insight, thank you. What are the qualifications needed to 'run' a train? Is there formal training that the railroad companies give (Can't
recall seeing TV commercials for this sort of work!). Is there a 'licence' of sorts for different classes or 'lengths of trains'? Can an average
high school grad get into this field? Is it competitive like the airlines? Is a college degree needed? Also, what is an average salary range of,
lets say, a ten year runner make?

 

First, I absolutely agree that owning a 360 @ age 19 is insane. I'm 45 with a great job, ZERO non-mortgage debt, monthly mortgage payment below $2k, 5-digit emergency fund set aside, retirement & 401K accounts, etc. I've been on the fence if I could COMFORTABLY afford the expenses that follow a 360...and thusly have been content with my 308.

Just a thought for your situation. If (IF...) you were still bent on Ferrari ownership at such a young age...sell the Mustang and replace with something stupidly inexpensive to own / operate as a DD (thinking a USED Honda Civic)...use spare funds to purchase an 308GT4 / 3082V. Great cars to learn about Ferrari's and a hell of alot of fun to own and drive.

Just a thought...

 

Would it be possible for you to share how to easily achieve a conservative 8% return? The present world is uncertain and chaotic, and my money is losing value after taxes and inflation because I don't know where to invest it (I'm noob after all). Any sage advice would be most appreciated.

p.s. If someone could invest for me and achieve at least an 8% ROI, I'd be very happy to share 20% of the profit in addition to buying you beer

 

There is some good advice here . 19 is too young for the 360 and is a very poor choice for a daily driver. Set your priorities and get your financial house in order. Honestly any one can buy a 360 . Choose the way you want to live. Do you want to work for money or have money work for you. ?

 

Start by investing a few dollars on a subscription, then check out Business and Investments

 

OP .... get rid of the heavy ford GT and buy a light weight, proper drivers car: Toyota GT86. Then in a few years ...once you've established some financial stability .... then go for the Ferrari. Cheers.

 

+1.

Get GT86 and leave it as is, with the budget tires and everything. Great car to learn proper car control in.

Put down payment on a cool apartment. Doesn't have to be MTV cribs rivaling ****, just something in a decent enough neighbourhood with your own (covered) parking spot. If you see kids in the next 10 years get a 2 bedroom.

wait until you've been employed at least a year as a train conductor, and have a solid contract. Save some cash up and do a 20-30% deposit on a 360 that has done decent miles in the last 2-3 years (3K a year) and look carefully at the service history in those years. IMO I can't see 360s dropping much in value really, unless you drive it a lot (obviously this is a concern for many not making FU money).

Personally I'd take a look at 550's. Get one in a colour that's not red and you can daily drive it easily. I prefer them with shields but sans those and it's even more of a sleeper...

If you're earning 7k a month it should be quite doable really, unless you're spending crazy money at weekends on hookers and blow.

 

I can imagine. In the town of Dunsmuir in Northern California in 1991, a Southern Pacific train derailed into the upper Sacramento River on
a fairly large curve. Several cars made contact with the water, including a tank car that had ruptured and spilled its entire contents of metam
sodium into the river. My understanding is that it wiped out over a million fish.

I think the above may be what you are talking about in regard to brake control as I'd imagine that big turns can be pretty trick when you
are breaking and each car has X amount of 'slack' that has to do something (I'm not sure what the technical terms are like slack in a
chain....yes? No?).