News

Public Service Announcement for the Value Minded

Discussion in '458 Italia/488/F8' started by SoCal to az, Mar 9, 2020.

  1. SoCal to az

    SoCal to az F1 Veteran
    Silver Subscribed

    Nov 25, 2012
    7,734
    Arizona
    Cars depreciate.

    Yes, even Ferrari’s.

    Yes, even some limited edition Ferrari’s.

    Carry on.
     
  2. Jason B

    Jason B Formula Junior

    Apr 7, 2006
    281
    Hbg, PA
    Virus ain’t helping but agree
     
  3. Lagunae92

    Lagunae92 Formula Junior
    Silver Subscribed

    Feb 16, 2018
    358
    SoCal
    You’ve been busy on here. But often a voice of reason.
     
    IloveGT likes this.
  4. AlfistaPortoghese

    AlfistaPortoghese Moderator
    Moderator

    Mar 18, 2014
    3,584
    Europe, but not by much.
    Full Name:
    Nuno
    Amen to that, my friend.

    I must admit, on a very personal note, to an extent, I even get a kinky kick out of depreciation: I can afford to have fun and drive. In the end, it’s just money. Life can’t be measured in numbers.

    I also like buying OEM accessories and add them to my car, knowing I won’t get the money back one day when/if I decide to sell.

    I’m OK with depreciation and fun eating my hard earned buck away. As I said in a different thread, cars in my view are intended to be a grown man’s toy. One’s profit/spare cash should be used to have fun. You only live once. Better to lose money in something like a depreciating italian exotic supercar, expensive holidays, etc than paying for a hospital bill.

    And I’d like to add to your very well put statement regarding depreciation: fun comes in the form of racking up mileage. Stop worrying about mileage. Buy condition.

    Kind regards,

    Nuno.
     
  5. FFan5

    FFan5 Karting

    Jul 7, 2018
    210
    And... Opportunity costs exist even when depreciation doesn't. You are going to lose money on anything but a quick flip, so enjoy it! ;-)
     
    energy88 and Thecadster like this.
  6. boobernackle

    boobernackle Formula Junior

    May 28, 2016
    913
    THIS IS NEWS TO ME.
     
  7. tomc

    tomc F1 World Champ

    Apr 13, 2014
    19,417
    DFW, Texas
    Full Name:
    Tom C
    No, I refuse to accept this! ;)
    It's a gorgeous early spring day in DFW. I'm just about ready to drive up the value of my F-car by piling more miles on it. So there! :)
    T
     
    Avia11 likes this.
  8. Gh21631

    Gh21631 F1 Rookie
    Silver Subscribed

    Feb 24, 2011
    4,684
    East
    Seems now more than ever these threads and posts pop up. Just a simple analogy, I bet many people here lost more in the market in one day than the total cost of a Pista. How's that for perspective?
     
    Texas Forever and Bhh like this.
  9. SoCal to az

    SoCal to az F1 Veteran
    Silver Subscribed

    Nov 25, 2012
    7,734
    Arizona
    much much more!
     
    Gh21631 and Bhh like this.
  10. Drson

    Drson Karting

    Mar 18, 2018
    89
    Full Name:
    John Galt
    Tomorrow is not guaranteed....live every day like it’s your last one....and drive, drive, drive!
     
  11. IloveGT

    IloveGT Formula Junior

    Oct 17, 2015
    799
    Yup. I rather to have a pista in my garage than looking at the graphs on the computer. Well, I meant a SA, not pista. :p
     
    AlfistaPortoghese and Ash Patel like this.
  12. wrs

    wrs F1 Rookie
    Rossa Subscribed Owner

    Jul 11, 2015
    4,832
    Austin, Texas
    Full Name:
    William
    Stocks depreciate too.

    That may mean less demand for used Pistas and new ones.
     
    AlfistaPortoghese likes this.
  13. AlfistaPortoghese

    AlfistaPortoghese Moderator
    Moderator

    Mar 18, 2014
    3,584
    Europe, but not by much.
    Full Name:
    Nuno
    #13 AlfistaPortoghese, Mar 12, 2020
    Last edited: Mar 12, 2020
    Well we win some and we lose some. As long as the balance is on the green, better to lose money enjoying a car and trading it in for a new one, with your personal spec from the factory, than seeing a bunch of numbers shrink on a piece of paper.

    It all comes down to the losses you’re willing and able to accept and live with. Lighting up a cigar with a 100 USD bill... I take no pleasure in that loss. Losing >100 USD on a full tank of gas on my Ferrari? Give me that deal any day of the week.

    We all take a hit or two once in a while on the market. Those who tell you differently aren’t being candid about it. While stock performance does play a role in the value of supercars, desirability is a complex thing made of a number of variables, can’t be pinpointed to a single factor, although some contribute more than others.

    I always think of the supercar market’s ups and downs like an NTSB investigation of a plane crash: it takes a chain of events. Very rarely can an outcome be attributed to one isolated event.

    Kind regards,

    Nuno.
     
    OSUferrari likes this.
  14. MANDALAY

    MANDALAY Formula 3
    Silver Subscribed

    May 23, 2013
    2,049
    AUSTRALIA
    Full Name:
    ANGELO
    Depreciation is a full gone conclusion 100%

    Issue for some like me if it’s too much it’s hard to justify upgrading

    Otherwise I couldn’t care less about depreciation
     
    LVP488 and AlfistaPortoghese like this.
  15. Solid State

    Solid State F1 Rookie
    Rossa Subscribed Owner

    Feb 4, 2014
    4,840
    Full Name:
    Comor Bidity
    Very sound advice on this thread. Falling on deaf ears though. Most will not be driven. :(
     
  16. Graz

    Graz Formula 3
    Silver Subscribed

    Oct 15, 2012
    1,937
    New Jersey
    Full Name:
    Thomas
    I love one FChat’s take on this subject when he says “My Ferrari is a depreciating asset that continues to bring me dividends every time I drive it.” :)
     
  17. boobernackle

    boobernackle Formula Junior

    May 28, 2016
    913
    I only walk past my cars on the left side to minimize depreciation.
     
    Graz and Texas Forever like this.
  18. AlfistaPortoghese

    AlfistaPortoghese Moderator
    Moderator

    Mar 18, 2014
    3,584
    Europe, but not by much.
    Full Name:
    Nuno
    Personally, I think that judging/choosing cars for their possible appreciation or depreciation potential is like judging a fish by its ability to climb a tree.

    The classic supercar market usually rises when the markets go belly up. Inversely, the new supercars market goes down when the markets go down.

    Bottom line? Drive it. If you lost money on a car, you made the most of it. If you made money on a car, good for you, but that isn’t what a car is for in my view: it’s for driving and having a good time.

    These things were meant to be driven, not speculated upon. Appreciation/depreciation are completely secondary aspects of owning a car. Like fuel consumption: a lot of people approach me at a gas station and ask about my 458’s MPG. I honestly to this day don’t know if I’m getting 15 or 50 out of it, and couldn’t possibly care less.

    Kind regards,

    Nuno.
     
    MANDALAY, Graz and Texas Forever like this.
  19. Texas Forever

    Texas Forever Four Time F1 World Champ
    Rossa Subscribed

    Apr 28, 2003
    42,404
    Texas!
    I’ve always found the gas mileage question funny. It’s a ****ing Ferrari. Although I have never cared about gas mileage. You say it and I’ll pay it.

    PS. I did use the button to check my mileage in my Cayenne diesel once. 30 MPG at 90 MPH! Love it.


    Sent from my iPhone using FerrariChat
     

Share This Page