One Question for you Ferrari Owners

You'll get a lot of smart ass remarks to this question but I'll give you one good one. STAY IN SCHOOL.

Here's another. Stay away from drugs.

How about, "Don't make alcohol your primary source of entertainment".

Buy into tangible investments, real estate comes to mind.

Did I mention STAY IN SCHOOL

One thing that may speed up the process of ownership is PRIORITIES. If you get married and have 6 kids chances are your ownership may be delayed a little while.

One other thing. There are some older Ferraris that cost less than many new domestic cars and trucks.
DJ

 

I agree with Spasso--Get a good education. Keep focused. Plan ahead for your dreams. Be patient-good things don't come quickly--unless you hit the lottery-- In that case screw all the above buy an ENZO!!!!!!!!!!!!!!!!!!!!!!!

 

Hell, I'd be happy with a cherry 512 TR.............at least for a while.

 

Stay in school, stay away from alcohol and drugs and establish your priorities. Faith and family will be there when the cars are gone. Find a vocation that you find totally stimulating and does not like a job, start a business and keep your customers totally happy with your service or product and things will come naturally. Take care of your employees as they can make or break your business. Dream and set goals. It only took me to the age of 48 to get my first F car. Alot of others got theirs much earlier. Good Luck

 

Responding to your question from the "practical/financial" side of things ...

Acquiring any high-value exotic car is significantly different from buying or leasing an ordinary car, in several regards - among these:

(1) Most people use these for limited, special occasion, good weather driving purposes. This cuts down on their wear & tear, odometer, and insurance risk.

(2) Exotics of a certain age (or rarity) tend to hold their values; some even appreciate.

(3) There are special leasing companies geared to aspects of the above.

Thus depending upon how actively you plan to use the car, and what kind of car it is, you might be able to lease it without being a millionaire. This is a financial adventure of an unusual sort, however, so you would do well to seek some expert advice when/if you become seriously interested.

I have to remember a day in 1990 when I was admiring the cars at what used to be Ferrari Los Gatos. I indicated an F40 (then selling for over $1 million) and asked the Sales Manager, "How does one finance a car like this?" He smiled and answered, deadpan, "People who buy F40s just write checks." That sure put me in my place!

 

ill stay calm and just inform you to use the search function. There are a plethera of these threads started before. Some with very in-depth and inciteful responses.

edit: i dont have a Ferrari either and welcome to the boards.

 

The above posts sums it all up. I got my first F-car before I turned 39 early this year and have been a professional Architect for 14 years but only recently realised my automotive dream. Priorities are important, get it right and you're okay. Good Luck.

 

-there is justification for higher education....or you can marry rich?? I think Britney Spears bought her husband one....but then again, he has to listen to her music.

 

Welcome Sced.

To afford exotic cars, have some wealth. Creating wealth can be surprisingly easy. Can be impossible for some, though.

Drop by a library or bookshop or search the internet - there are innumerable resources. Or learn from successful investors. Put some serious time into studying the subject and you'll learn how to create wealth. Then make it happen.

Five to ten years is a likely time frame if you're serious, committed, disciplined and do the right things.

Saving money is not the way. You want investments or business/es. Make your money work hard for you by borrowing other money so that you can put the combined larger amount into good investment/s. Cover the risks (downsides). Formal education is not required but you must learn as much as you can about the investment path you choose.

Best wishes on your journey.

Pete

 

It took all I had to buy it, and takes all I have to keep it!

Seriously, you can get a nice 308 for less than a BMW Compac.

Even more seriously, added to what all the other guys say about the obvious, don't blow all your money on gambling, beer and drugs...

BUY A HOUSE AS SOON AS YOU CAN AFFORD... THEN IF A FEW YEARS LATER YOU CAN RELEASE SOME EQUITY IN IT AND PUT A DEPOSIT DOWN ON ANOTHER ONE TO RENT OUT, DO THAT TOO.

In the long term, bricks and mortar are still a very safe bet.

Other than that, eventually you will save enough, have a bit extra in the house that you can afford to release, and maybe get a small loan and hey presto... it is not magic, it is not dependent on massive wealth or lottery wins, it's just working out how you want to use your money.

 

But he gets to see her naked too.

 

If you want a 'new' Ferrari you're going to have to be patient unless you're already rich. These are big boy cars with big boy budgets for repairs and normal maintaince.

If you want to own one on the cheap, do what many/most guys here do. Find the best 3*8/Mondial/GT4 or other entry level Ferrai, and get intimate with it! Anyone who can afford a new Honda can afford a Ferrari if you make the investment in tools and time to do your own work. Except for an engine rebuild, I think any dedicated person can do almost all their own work on these cars. Get some tech books on your car and the archives here are rather extensive!

Labor is such a huge percentage of maintainence costs. Belt changes, water pump rebulds, fuse box replacements, brakes...all this stuff is "cheap" when you do them yourself. You need a garage, and buy good tools and a good jack with jackstands. I've found the right tools makes all the difference when I'm working on my car.

Ken

 

So it's all "down-side", eh?

1. We learn to use the search function.

2. Knowledge is power -- the schools have your inheritance, but there are those trying to tell you that you don't want it.

3. Cheap women aren't.

4. Replacing your sedan every two years costs in depreciation. That keeps you at that same level of vehicle. Buy 'em new; maintain 'em religiously; keep 'em for a decade (or more). Get your money's worth out of 'em. Then trade up. Once it's paid off, those monthly car "payments" become your exoticar fund.

 

Sod him! Does she take her clothes off aswell?

 

As some have said, you do not have to spend six figure sums (£) unless you are commiting yourself to new.

You can pick 400i/Mondial's up from as little as £10,000
308's for around £20,000.

From my experience it is also the upkeep that costs too. That said certainly two of the above cars are relatively cheap to maintain in Ferrari terms even if you do not maintain them yourself.

 

You get your money the hard way...you earn it!

 

or you could sell drugs and maybe get one in a week , if you dont think you can handle the school thing . i think you can find some of the florida owners will help you out with that road...

just kiddin!

find your niche' , one you enjoy doing , and do it better than anyone else.

 

Hey! I think you guys are giving alcohol a bad rap! I agree that success is a total 24/7 proposition, however, didn’t you ever go to church?

Don’t you remember:

And God did take pity on Adam, for Eve had the power of speech. So God did give Adam Grolsch, and it was good. Very good. And some time later he gave the world Enzo Ferrari, and it was even better.

 

Work!

12 cylinders or walk.

 

"or you could sell drugs and maybe get one in a week "

You could also make enough money each week to afford a Ferrari Just depends on what you do.

 

In my case, wait 30 years, then buy a nice pre-owned one for a reasonable price (in my case, about $40k).

Patience is a virtue. If you have to wait, it makes the achievement all the more satisfying.

 

I agree with many of the other posts who recommend staying in school. There is a reason why they sell those "Justification for Higher Education" posters. Mainly because it is true.

Sure, you can get lucky and start a successful business without a college degree, but the successful ones are more of the exception than the rule. For every success story there are thousands of failures. Most of those drop out entrepreneurs end up bankrupt. Not everyone can be a Don Lapre (sp?) and hit it big from their "one bedroom apartment". A formal education gives you the building blocks to be successful in life and business.

I just picked up my Ferrari last month (1988 328 GTS) and it took me 15 years of planning (I'm now 38). I first studied my a$$ off to get my Engineering degree, then I did the house and wife thing first and eventually moved up the corporate ladder to earn enough money to buy this car. Nothing you dream about is ever easy achieve.

The cost of the newer F-cars cars are out of sight so start with the 3XX series. They don't cost much more than many standard new cars today and they are just as stylish (if not more) than the newer styles of today. Plus they are much less expensive to maintenance.

Good luck.

 

Well, I'll tell you how I did it. I went to a good high school and got great grades so that I could go to a top college. Then in college I got great grades so that I could go to a great graduate school. Then I got great grades in graduate school so that I could work for a great company. However, no one was hiring so I started doing stunt work in best selling adult films with a lot of girl on girl action and MFF threesomes and that's how I was able to afford a Ferrari.

 

That is by far the best advice I have heard yet!!!!!! Bravo!!! DO you need any extras??