Normal career, and to own an F-car

Lots do. Its about choices. Don't expect to have a big family all going off to good schools AND the big house AND the big boat AND the house at the lake AND AND AND.


If you are willing to make sacrifices in other areas you can have a very cool car on an average income.

 

You can buy a used Nissan and pay $20 grand.

Did you know that you can buy a pretty good Ferrari for $20 grand?

Ok, it's not as practical. But, $20 grand isn't much in today's pricing of cars. I was at the Mini dealer the other day and they had one for $38K. $38K for a MINI! Goodness you could probably get a really nice 308 for that. After 3 years, the Mini will be worth $20K and the 308 will be the same value or more.

308's are not expenive to keep running and pretty reliable.

It's all a matter of priorities and deciding where you want to spend or invest your money.

Just don't buy one until you're convinced you can afford it. Like most, you've probably got a family to look after. But, it's quite possible that "Daddy" can have a Ferrari in the garage for a couple of years before he needs a wheelchair to get around.

 

I wrench on motorcycles for a living, and recently bought a 1995 F355 spider with 124 miles on it. I don't have kids though. I'm 39 and just made a habit of saving 10% or more of my income (in addition to maxing out my 401k) ever since graduating from college in 1993.

Just do your research about cost of ownership.

I definitely wouldn't have borrowed money to by mine. Instead, I take the money I would be spending on payments and set it aside for upkeep, and also spend a bit renting a garage space for it (I'm in San Francisco, so a garage space here costs about the same as car payments for some cars!)

If you want it, you can do it. Just a matter of what else you have to give up, and whether it's worth it to you. So far, I'm very glad I did it. But then, I don't enjoy travel and can't afford real estate here in the city, so I figured I had to find a way to enjoy my savings.

 

I find these threads much more annoying than any Timing Belt thread I've ever read. Do your freeking research. If you can't afford 20K to own a Ferrari hang yourself.

 

Easy Glassman LOL! Wow, did you have a bad day? I know it is someone asking if they should do it, but really my brother is a lot like the OP here.

That being said, I will tell the OP this. If you have any doubts about buying a Ferrari, you shouldn't buy one. If you know you want one, (supporting Glassman's statement here) then go buy one.

Ask questions about which one to buy, or cost of having a particular type, but the question of "if you should buy" one was best stated by Rifledriver here. It is ALL about priorities.

My wife is looking for a car now but to her it is all about getting from Point A to B. Not so for me, hence I am a car guy and spend my disposable income on a Ferrari and other cars. If you are passionate about the marque, then buy one. If not, don't.

My .02

 

There are many members here that work in "regular" or "average" occupations.

Yes, as income/level of wealth goes up, the rarity and cost of the models owned generally follows.

The nice thing is that there are affordable models, at the moment the 1980s rear-engine variety. You can buy a good 308 or Mondial for the price of a new Honda Accord.

For those aspiring owners who would like to have an older front-engine V12 Ferrari, the price of admission has risen steeply over the last five years or so. The mid-1960s Series I 330 2+2 is generally considered to be one of the least desirable Vintage models, but a nice one will still set you back $85K to $100K.

The affordable exception among the older front engine 12's is the 365 GT/4 2+2, 400i, and 412 series, which was produced from the mid-1970s through the mid-80's. I've seen recent asking prices of $25k to $40K for examples that at least look good in photos.

I worked in architecture for 30 years, was reasonably successful, didn't buy a Ferrari until I was 53, and have never felt undeserving of being able to make the purchases...if others don't like it or judge me as a person for it, that's their problem.

If I were you, I'd cough up $15 for a basic Silver subscription, hang around the forums for the cars that fall within your affordability range, and look at other members' profiles. Many post their age and occupation, and you'll be surprised and encouraged by what you find.

 

Actually no. It may seem strange but even if you have the expendable income to buy a Ferrari you are not allowed to purchase unless you have a unique/exciting job or source of income.

It is a little known fact but you will quickly learn the reality of this situation if you try to buy one.

I suggest you win the lottery, receive a large inheritance, or lie about your occupation (e.g., pirate, hit-man,porn star,etc) or you will otherwise be denied f-car ownership.

Good luck!

 

Not an unreasonable question in my opinion. Keep in mind, that if you live in a climate where winter is tough and there's salt on the road, an older 308 may not be the most suitable vehicle. It sounds like you're starting your working life. Get something reliable for your day to day life and squirrel money away so that you can afford to buy a Ferrari in a few years. By that time you may be able to afford something more modern than a 308. Good luck

 

Seriously, anyone with an established career, as opposed to a job, can afford to buy a Ferrari.

 

I bought my first ferrari 3 years ago at 37 wanted one since I was 14 when my dads friend
had a new 308 and came around with it and took me for a ride in it.I sell motorcycles for living
and am single so I am just an average joe.If you want one buy one life is short

 

Frowned upon by whom?

Coworkers? As a corporate drone I tend to not mention hobbies at work. Besides, a good bass boat and pickup combo costs as much as the 328.

Fellow owners? The folks in our local club don't seem to care. To be honest, I'm not even sure what some of them do.

Friends? If they're not happy for you, are they your friends?

 

I for one am very suportive of someone who works hard for a living at a "real job" and chases their passion. There is no pre-requisite to be a CEO or wall street tycoon. Of course, since Ferrari's are expensive cars, many owners do have lucrative careers, but its not a necessity. Certainly, the work you do is VERY VALUABLE to society although poorly compensated compared to other careers.

As an RN, you may be more concerned about your co-workers reaction to finding out that you own a Ferrari. No matter how low the purchase price, most unknowlegable people assume these cars are hundreds of thousands of dollars and your colleagues may start wondering how you can afford such a luxury.

I wish you luck and hope you one day find yourself behind the wheel of your dream car.

 

Ah! The voice of reason triumphs again!

Let me put it more bluntly --

Screw anyone who is jealous of you, what you do, or what you own. It's your life. Don't let others take it away for their own personal pleasure denying you of your desires.

As to Ferrari owners, they only care about one thing -- the cars and the people who own them, take care of them, or wish they could take care of them.

 

This thread was started (think about it), because you haven't reconciled yourself to the thought of being an owner of (any) Ferrari. This sets up an automatically switched on condition, where you are not only doubtful, but in fact, fearful of how others will ("see me driving a Ferrari".)

Hey, it really is just a car - - yes, a truly wonderful work of art, but a car none the less... If you drive your Tundra pickup past the girl's dorm at 95 mph, you should get "slammed". Drive your Ferrari in a proper manner - - and you'll get "oooohs & aahhhs".

Of course, there will be a bucket full of "those that wish they had one too"............but hey, you can't make everyone's dream come true----so, just take care of your own

Good luck in your thought process,

Hank

 

Now that's a good question. Who cares?

The question reveals more about you than the answer. Clearly you look at a Ferrari as a trapping of wealth.

 

I'm a truck driver and I'm on mi second Ferrari that I bought from a truck driver. Mi co workers have all kinds of things to say even the ones that make more than I do. Some of these co workers own Mercedes , BMW and Escalades and paid more for their cars than I did.

Its a different world owning a Ferrari, 20,30 or 70k is the same no matter what you spend it on. It can and has been done by your "regular joe"....

 

To the OP: Yes, you can. Dont believe me, send me a PM and I will tell you how/what I did to get mine.

If you get it you will have friends and co-workers who are happy for you.

If you get it you will have friends and co-workers who are jealous of you.

For those two reasons you have to be prepared for whatever repercussions come at you. People WILL assume that you have a LOT more money than you likely do. You HAVE to be prepared for huge bills from time to time. Its the nature of the beast.

So, if YOU are going to be happy like that - then YES, go ahead and do what you need to do to get it. I know I was and am very happy with mine. I have NEVER regretted my decision. It is and has been an amazing machine and it makes ME happy. I say screw anyone else who downplays your achievement. I wanted one of these since I was nine years old and I am living my dream.

Now, go do what you gotta do...



PDG

 

There are lots of constructive replies here. 20 years ago I struggled with the same question. Sports cars have always been one of my passions, and I wanted a Ferrari for myself, and not what others would think about me. I am glad I bought mine back then. If you know for certain you can swing the financial aspect and truly want to follow your passion...go for it. It is all about priorities. I was told something that today is still very true...you can afford anything you want, just not everything you want.

 

http://www.ferrarichat.com/forum/showthread.php?t=292029

 

You'll find plenty of answers to that question here:

Who is Secretive about their Ferrari Ownership?

 

+1 well said

 

I'm willing to bet money that I am the "poorest" multiple Ferrari owner on this board. Talk about an everyday job, try construction for over 40 years. I bought my first sports car a 1971 XKE V12 Roadster at age 18 for $5500.00. This was a time when friends of mine were paying 10K for a pickup truck. That began a long run of Jaguars including three XKE's and five sedans if I remember correctly. Including a Mark1 Mark2 3.8S and Mark x sedans.

Later I traded an XKE straight across for a Maserati Mexico, later traded for a 190SL, later worked up to a Bora, then back to Jags. The only car I have ever bought new was a 280 Z. And laugh if you want but that was a lot of car for 5K.

The one thing I learned from Jaguar ownership is that these cars are rarely everyday drivers. If you live where it gets cold you cannot drive them in cold and snow. I worked around that by always owning a $500 special that I could use for backup. I didn't notice or care if anybody thought I drove a crappy car most of the time. One of the sacrifices of sports car ownership for me. I also did not own a home until I was 40 years old so that I could support my sports car habit.

I have financed creatively all of my Ferrari purchases out of necessity. I have yet to lose money on a Ferrari purchase with the exception of a 308 that I still have.. My 250GT cost a whopping 25K and was financed by the owner with no interest at a time when nobody could unload one of these cars.

So if you love cars go for it. If your only looking for some perverse glamor of driving an exotic car forget it.
So as per my original post, anybody with an OK income can afford an expense of 20K for a Ferrari sports car. As Rifledriver mentioned its all about what sacrifices you are willing to make. But don't forget there are plenty of other cars out there just as fun and cool (and less money) than a Ferrari.

 

if you have a 250GT then you are not that poor....lol