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Requesting Input on 360 Purchase Plan

Discussion in 'Ferrari Discussion (not model specific)' started by usshelena725, Jan 24, 2019.

  1. usshelena725

    usshelena725 Karting

    Nov 22, 2014
    54
    Johnson City, TN

    Thank you for the kind words and comments. I thoroughly enjoy reading others opinions and recommendations here in the forum.

    With respect to the California - I've driven one and while it was a very nice car, it wasn't a Ferrari to me - I don't know how to put it into words. Maybe the best way would be to say that it felt more like a Maserati, I dunno. Bottom line is, that if I were looking for a car that drove like the Cali, I would probably go with a nice MB SL, a BMW M6 cabrio, or something like that. It felt more like a 'touring cabrio' than a true sports car.
     
  2. imahorse

    imahorse Karting

    Nov 25, 2017
    99
    WI
    Full Name:
    Dustin
    I partially view them as tinker toys as well, as there is a huge sense of pride in knowing that you are the one maintaining it. Unfortunately cars, like all things we spend excessive amounts of time with, eventually don't excite us as much as they used to. If you received no joy from cars though, you wouldn't own so many.
     
  3. Texas Forever

    Texas Forever Three Time F1 World Champ
    Rossa Subscribed

    Apr 28, 2003
    38,324
    Texas!
    Damn, you’re hard to please if you don’t like the way a Cayman handles.


    Sent from my iPhone using FerrariChat
     
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  4. vrsurgeon

    vrsurgeon F1 World Champ
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    Dec 13, 2009
    12,294
    Charleston, SC
    Full Name:
    Curt
    Boxster with a hardtop. :)
     
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  5. Xtreme5053

    Xtreme5053 Formula Junior
    Rossa Subscribed

    Aug 20, 2006
    256

    I came here to say hold off for a bit, but looking at the metrics, I'd say you've got a green light.

    What am I looking at?

    Annual Income: 240k/2 = Total Value of Everything with an Engine. So, 120k - BMW - VW = Ferrari Budget (PASS)

    Net Worth (Car Enthusiast) - Up to 10%* (BMW+VW+Ferrari) 120+210+440+285+House = (PASS)

    The only issue is just you and your wife's mental readiness to keep the car. I would not purchase a Ferrari as a "trial run" vehicle. These take time to find the right one for you and you need to be prepared for it to be so special that you want to "marry" it. Now, if it doesn't work out and you divorce (sell), that's OK. I just wouldn't approach such a vehicle with an expiration date built in. If you and your family need some more time to get that ready, that's OK.

    On the search distance, please do not be hampered by distance. For about a $1 per mile, you can have the best version of the car brought to your doorstep. It's worth it to coordinate inspections over the phone and get a final look, smell, and feel in person when the right car comes along.

    Also, when it comes to color combinations and transmission specification, only look at the combinations you want, not what other people say is "popular". I can't tell you how frustrating it is looking in the US market because everyone thinks the "safe" option is Red/Tan F1. I want NONE of those and ended up paying more than market for Blue/Crema Manual. Why? Because there aren't that many for USA. Europe? They have great color combinations available. My point? Don't look at what you think the market might want, because there's someone out there with the same tastes at yourself should you choose to sell.

    *If you want a more comfortable target, 5% would be good for having a proper asset allocation for true collector car curation.

    TL/DR: I think you're in a good financial position. Do not buy on a trial basis; buy as if you're gonna keep it. If that takes a few more years to get comfortable, that's OK. Get what you want and don't be afraid of casting a wide net to find it. Do not buy the car in order to sell it to the next guy.
     
  6. SeaNile

    SeaNile Formula Junior
    Silver Subscribed

    Jan 25, 2010
    677
    West Chester, PA
    Full Name:
    John
    My take, do it. Sure things were different when I had my 360 (red/tan/manual) but I bought it, drove it frequently, had zero issues and sold it for slightly more than the purchase price 7 months later.

    F1 360s sit for a while, manual are in more demand and are priced higher.

    Enjoy the hunt for the car. It's part of the fun!
     
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  7. Texas Forever

    Texas Forever Three Time F1 World Champ
    Rossa Subscribed

    Apr 28, 2003
    38,324
    Texas!
    One thing to keep on mind is prices go up in the Spring. February is a great time to buy a sports car.


    Sent from my iPhone using FerrariChat
     
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  8. usshelena725

    usshelena725 Karting

    Nov 22, 2014
    54
    Johnson City, TN

    Very good point, albeit one that I don't want to cause rushing of the decision. But yes, thanks! I always tried to by my previous convertibles in late fall and sell them in early spring. Worked out well.
     
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  9. Mbutner

    Mbutner Formula 3

    Aug 11, 2005
    1,642
    Portland, OR Area
    Full Name:
    Quick Draw
    Huh, I need to have you over for dinner to explain this to my wife. This thread has been an eye opener.
     
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  10. Dave rocks

    Dave rocks F1 World Champ
    BANNED

    Nov 23, 2012
    15,969
    Orchard Park, NY
    Full Name:
    Dave Lelonek
    I like steak :) :D
     
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  11. usshelena725

    usshelena725 Karting

    Nov 22, 2014
    54
    Johnson City, TN
    Figured I would bump this thread so I didn't leave anyone hanging that provided great advice. I ended up purchasing a red/tan 2002 360 F1 Spider with 21k miles on it for $79K. Very happy with the car - it ended up needing very little work based on the PPI and the follow up inspections by me.

    Thanks again for all the help and assistance.
     
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  12. greyboxer

    greyboxer F1 World Champ

    Dec 8, 2004
    10,244
    South East
    Full Name:
    Jimmie
    Well done - do keep us advised how you get on
     
  13. penak

    penak Rookie

    Mar 9, 2019
    1
    Full Name:
    alex porak
    Tagged, this seems like a very interesting thread
     
  14. mello

    mello Formula 3
    Silver Subscribed

    Jul 12, 2013
    2,391
    CA Bay Area
    Full Name:
    Steve
    Congratulation on your purchase. I suggest that you set aside $4-5K for issues with the capote in the future. How do I know? Like you, I own one.
     
  15. kes7u

    kes7u Karting

    Oct 18, 2017
    144
    Shorewood, MN
    Full Name:
    Kevin
    Congrats!

    And BTW, I know that this is Dave Ramsey writing. But I won't blow your cover!!!
    (Just kidding! Coming very lightheartedly from a Ramsey devotee)

    Enjoy your car. Please post up some pics in the 360/430 thread when you get a chance!

    Kevin
     
  16. ttforcefed

    ttforcefed F1 Veteran
    Rossa Subscribed

    Aug 22, 2002
    9,448
    congrats and enjoy!!!
     
  17. BT

    BT F1 World Champ

    Mar 21, 2005
    14,440
    FL / GA
    Full Name:
    Bill Tracy
    I think it is a great idea, but likely would play out as keeping the first one purchased for 4-6 years. If I were in the market today I would definitely go for a manual, and specifically would actually purchase the metallic red spider for sale here on Fchat. It is asking something like $90k, looks excellent, great color combo, manual, all the boxes I would look at are checked. Go for it, and have fun!

    :D
    BT
     
  18. RedNeck

    RedNeck F1 Rookie
    Silver Subscribed

    Jul 8, 2016
    3,856
    TN/GA
    Full Name:
    Matt
    There is a ban rule for anyone stating they bought a car without posting pics ;).
    He still owes me $$$....
     
  19. daytona355

    daytona355 F1 World Champ

    Mar 25, 2009
    10,645
    London
    Full Name:
    Sid Korshak
    Ahhhh, I follow that guy on YouTube..... he has some great cars.... Gotham was sold on I believe (I don’t pay much attention to what Rob says sometimes, it’s all about the cars I’m watching) but he has a new business doing the same thing, he’s very switched on. Maybe he would be a good objective person to speak to about this, as he is pretty sensible about cars despite being surrounded by beautiful metal every day
     

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