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Owning a Ferrari

Discussion in 'Australia' started by Iggy_Type_R, May 18, 2004.

  1. Iggy_Type_R

    Iggy_Type_R Karting

    May 16, 2004
    212
    Heya guys,

    Just wanted to say Hello to those who I don't know, and Hello to those who know me from another forum ;)

    I am not a Ferrari owner... yet. But time is ticking away and it shall not be long until I am (I've had a goal of buying a Ferrari for my 25th birthday since I was 13). I drive a DC2 Integra Type R (which has seen 900+ laps around The Island, Calder, Winton and Wakefield) and a new Jeep Cherokee Ltd.

    I am very very serious about buying a Ferrari... well sorta. I have 13 months until I turn 25, and I might as well start making plans, so I was hoping you guys who own one (or more ;) ) can shed some light on the experience.

    I am tossing up between a few options... although my fav Ferrari at the moment (out of the modern class) is a 360CS, the chances of finding one, let alone the $ to buy one is remote. Another car I am in love with is the Gallardo, but once again, it's same price as 360CS (cheaper actually) but a lot easer to get hold of.

    Now the "realistic" purchases...
    1. 512TR (92-94) - love this car. Heard one, sat in one, never driven it. Love the sounds, concept, shape, etc etc etc. ALso love the "heritage" of the car. It's a classic (in my eyes anyway) and will hold status for life. I guess the question here is how much maintenance it requires... and I don't mean cost, more like ... will it be in the shop 1/2 the time. Also can it be taken to the track without issues? Any1 have experience with this one?

    2. F355 GTS - I like the car, heard great things about it and love the idea of having a roof that comes off but still retains more of a hardtop feel than the spider. Any thoughts?

    3. Maserati 4200 Spyder (new) - not a Ferrari as such I know, but the feel is there. I've driven this thing and it rocks. I drove the Cambricorsa (sp?) and loved it. Great shifts, nice ride (a bit too soft, but nothing that a/market suspension cannot fix ;) ) and good power. Also has room for another 50 ponies with some simple tuning (from what I heard).

    The thing is the Spyder costs less than the 355, and is brand spankin' new. Great technology in it, but not a "Ferrari".

    With the new car I also know a way of importing it from NZ (where it's 80k cheaper) without paying tax.

    Once again, hello all, and thanks in advance for your responses. :)
     
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  3. ssalahuddin

    ssalahuddin Rookie

    Dec 26, 2003
    11
    512tr without a doubt. you will thank me for that.
     
  4. Mike360

    Mike360 F1 Rookie

    Feb 18, 2004
    3,346
    Sydney, Australia
    Full Name:
    Mike
    Why would you say a 512TR? Nice car but i would prefer the 355 GTS anyday over the TR. To me they are the nicer car, but hey, they are both Ferrari's and we are comparing two cars out of the best brand!! I would go after a 360 Modena, but hey, they seem to be getting pretty thin here in Sydney.
    How the hell are you going to import the car from NZ without paying tax? You going to bring it in as spare parts? Thats how i got my old 22b here....
    Or is there another way to do it these days?
     
  5. Iggy_Type_R

    Iggy_Type_R Karting

    May 16, 2004
    212
    There is a method of bringing a car to Australia for 12 months without paying tax on it. I forget the exact name, but all it means is that teh car must go offshore within 12 months... but then you can bring it back again.

    so a return boat trip every 12 months is required to keep tjhe car in Aus.

    355 and 512 are very different cars I imagine... but then I've never driven either.

    I had a ride in a 360 and I must say that I thought the Gallardo was more impressive IMHO.
     
  6. Mike360

    Mike360 F1 Rookie

    Feb 18, 2004
    3,346
    Sydney, Australia
    Full Name:
    Mike
    But does that mean that dual citizenship is in order?
     
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  8. Aircon

    Aircon Eight Time F1 World Champ

    Jun 23, 2003
    87,312
    Melbourne, Australia
    Full Name:
    Peter
    I'm sure it depends on the driver :) you should know that
     
  9. Iggy_Type_R

    Iggy_Type_R Karting

    May 16, 2004
    212
    Yes it does depend on the driver... I guess I'll just have to go for a drive in a 360 to do a "fair" comparison.

    But in any case, I don't think I can actually afford it next year. The Massa is 1/2 the price, but still delivers a very devilish smile on my face ;)

    Hey are you coming to PIARC next weekend? It'd be great to meet ya! :)


    Re NZ:
    You do not need dual citizenship. The thing is you'd buy in a company name anyway so you can claim back the GST (12.5%) and use that to pay off loan for 7 months (that's using interest rate of 8%). To set up a company in NZ is even easier than Aus and you do not need to be a citizen... ie Aussie citizen can do it easily.
     
  10. Aircon

    Aircon Eight Time F1 World Champ

    Jun 23, 2003
    87,312
    Melbourne, Australia
    Full Name:
    Peter
    nope...i don't do PIARC.
     
  11. GTRMagic

    GTRMagic Formula 3

    May 18, 2004
    1,902
    Sydney, Australia
    Full Name:
    Hey Mr Dee Jay....
    This would be under the CarNet arrangement, and the $80k saving is effectively postponing the import duty.... rally cars, racing cars (especially when Group A was in full swing, with Sierras and the like) etc etc have used that system for a number of years to avoid crystallising the import duty.

    It got to a point at one stage where rally types werent buying used Lancer Evos because it was difficult to determine whether the duty was paid or not...

    Now I know a container from Sydney to Auckland is only around $A3k per trip (i.e. $6k return) but with the cost of insurance, possible wear and tear on the vehicle in a container, the hassle and mucking around.. it must become a doubtful proposition... unless you can make money from the process...
     
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  13. ferrarifixer

    ferrarifixer F1 Veteran
    BANNED

    Jul 22, 2003
    8,520
    Melbourne
    Full Name:
    Phil Hughes
    Hey Iggy.

    With the kind of money you're talking about, you're not far out of 550 Maranello range too. An import from singapore would only be low 200's landed and a nice Aussie delivered one is now under 300.

    You don't need to spend that kind of money though. 100 will get you a nice 328, probably the most user friendly of all models. As little as 25 will get you a roadworthy 308 GT/4 too.

    Plenty to think about. Forget the Mazza, you'll regret evry minute of it. Drive one by all means, but owning is a headache.....I know because I've spent far too much time fixing other peoples!
     
  14. rnmarks317

    rnmarks317 Rookie

    May 10, 2004
    36
    iggy thats some awsome stuff. i also have the same goal, im 20 and i drive an acura 3.2 tl. i would say for me at least its a toss up between the 355, 360, and 512. ive started a couple of investment funds to have the money ready. i would say the 512 would be an awsome investment. good luck, and let me know how it goes.
     
  15. Admiral Thrawn

    Admiral Thrawn F1 Rookie

    Jul 2, 2003
    3,932
    Los Angeles, CA
    Full Name:
    Jim
    Early model F355 Berlinettas from around '95 seem to be going for about AUD $200k. Seems pretty good value (relatively speaking... wouldn't mind one for USD $80k like you can get in the US!!!)

    Certainly is if your idea of an awesome investment is one that depreciates.
     
  16. Iggy_Type_R

    Iggy_Type_R Karting

    May 16, 2004
    212
    Thanks for the feedback guys! I have to do more research on the NZ front, and since I am there (here) at the moment, it's easy. I drove past the Lambo dealer last nite... aaahhh... the good memories of driving the Gallardo! Yuuuum. :)

    the thing with the 512 is that I can get one for about 160k in Australia... but then again the Massa new is 165k aussie dollars in NZ. the only point in importing a car from NZ is that GST claim back in full on a new car. Otherwise I might as well buy locally cause there is not as much benefit in buying a 2nd hand car in such a way.

    If I had to pick between a 355 and a 550, a 355 is still around 100k cheaper, and the way things look I think a 355 would be a better choice. 200-220k for a manual... and 240 for the F1 shifter. Speaking of which, anyone experienced one in the 355? I hear they were pretty dodgy.

    ferrarifixer - how do you get an import from Singapore?

    rnmarks317 - good stuff man! :) always good to hear people striving for their best. If you want some reading material on investments, etc etc send me an email and we'll take it offline.
     
  17. Admiral Thrawn

    Admiral Thrawn F1 Rookie

    Jul 2, 2003
    3,932
    Los Angeles, CA
    Full Name:
    Jim
    Dodgy? Uhh, nope. Just costly to maintain like any Ferrari out of warrenty.

    The 355 was Ferrari's most successful model ever.
     
  18. rnmarks317

    rnmarks317 Rookie

    May 10, 2004
    36
    hey iggy that would help a ton, i tried to email you but it wouldnt work, you can send me a pm or just post your email. thanks
     
  19. ferrarifixer

    ferrarifixer F1 Veteran
    BANNED

    Jul 22, 2003
    8,520
    Melbourne
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    Phil Hughes
    You will get a lovely Aussie 550 for well under 300 at the moment. There is a sliver Singapore import in Melbourne for sale at the moment. Asking $240ish I think.

    You could bring one in yourself and land it for under 200 if you shop around and do the paperwork.

    Between 355F1 and 550 Maranello.......no contest, 550 every time with bells on.
     
  20. Tuco

    Tuco Karting

    Mar 10, 2004
    148
    Texas
    Iggy Type R
    I as the owner of a Black 512TR can assure you that if properly maintained these cars are very dependable. In fact the only time mine has been in the shop is for tires and some elective cosmetic work. The car has immense road presence. And the sound of a flat 12 with a Tubi exhaust is IMO is worth the price of admission alone!. From a pure investment standpoint there are better oppurtunities out there. But you have to consider part of the "return" on your investment is the awesome experience of Ferrari ownership. I dont get to drive mine as much as I would like (Im sure Im not alone) But every time I do drive it, I fall in love all over again. Their all great cars. Drive all of them,get a ppi on the one you want. spend your cash , and you will become spellbound by the mystery, the gestalt of a Ferrari!
    Good luck and do let us know what you decide.
    If you like, pm me and I will give you directions to see my car here on F-Chat.
     
  21. Iggy_Type_R

    Iggy_Type_R Karting

    May 16, 2004
    212
    I guess I'll just have to take the 355 and the 512 and the 550 for a drive then. :)

    A bit later, when it's more realistic tho... othewise I will itch like ... ahem... nevermind ;)
     
  22. DodgeViper01

    DodgeViper01 F1 Veteran

    Oct 1, 2003
    6,760
    The F355 GTS is a great choice for your price range but I have been told by several that if they were buying again they would get the coupe because it is more "stable" feeling.
     
  23. GTRMagic

    GTRMagic Formula 3

    May 18, 2004
    1,902
    Sydney, Australia
    Full Name:
    Hey Mr Dee Jay....
    I have today's Australian Financial Review in front of me with an ad for Scuderia Veloce Motors in it.... interesting reading...

    I presume these are Australian delivered (and therefore complied) cars...
    New - 575M F1 Maranello A$577k + stamp duty, registration & dealer delivery
    Preloved - '02 575M F1 Modena $485k
    Preloved - '01 550 Barchetta Modena $550k
    Preloved - '00 360 F1 Modena $330k
    Preloved - '02 360 F1 Modena $365k

    Now in most mainstream cars this dealer is expensive, but these prices are well away from the numbers above....

    Is there any difference in spec between the two lots of vehicles, or is the Australian compliance plate the only real gap?

    I remain with the nose firmly pressed against the showroom window.... :)
     
  24. ferrarifixer

    ferrarifixer F1 Veteran
    BANNED

    Jul 22, 2003
    8,520
    Melbourne
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    Phil Hughes
    A 575 is way more expensive than a 550. A 550 Barchetta is the convertible model...and also way more expensive. They would have a 550 Maranello up for around $325.
     
  25. Iggy_Type_R

    Iggy_Type_R Karting

    May 16, 2004
    212
    There were only 499 550 barcheta's ever made, I am surprised there are like 5 in Aus.
     
  26. jmillard308

    jmillard308 F1 Veteran
    Silver Subscribed Owner

    May 29, 2003
    6,100
    Perth West Oz
    Full Name:
    John Millard
    Surprised there is so many, or surprised there are so few?
    There is more than 5
     
  27. ACP

    ACP Formula Junior

    Apr 7, 2004
    250
    Sydney
    Full Name:
    Anton
    I was under the impression that to bring your car in from overseas and drive it on a 12 month permit and then to ship it out again that you had to own the car for more than 12 months in another country and you had to prove that you were not living in Australia for that period. i.e an American coming in from the states for a 12 month assignment can bring his car with him for the duration.

    This didn't apply if the car was not to be used on public roads - race cars etc.

    Also I thought there were only 448 Barchettas? Could be wrong though seems a strange number.
     
  28. Iggy_Type_R

    Iggy_Type_R Karting

    May 16, 2004
    212
    John, surprised that so many. I hardly hear of those types of "rare" cars coming to Aus.

    ACP - interesting point... I don't know the details, but the Lambo dealer told me has 2 or 3 clients in Aus that have bought Murcielagos like that and he organises the whole thing (as you would expect, after spending 500k+) :)
     

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