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What do you do? How do you afford a Ferrari?

Discussion in 'Other Off Topic Forum' started by Prancing_Horse, Dec 30, 2003.

  1. BigTex

    BigTex Seven Time F1 World Champ
    Rossa Subscribed Owner

    Dec 6, 2002
    74,279
    Houston, Texas
    Full Name:
    Bubba
    Sorry!

    And tell your avatar to touch up her roots!!!!!!
     
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  3. BigTex

    BigTex Seven Time F1 World Champ
    Rossa Subscribed Owner

    Dec 6, 2002
    74,279
    Houston, Texas
    Full Name:
    Bubba
  4. rob

    rob F1 Rookie

    May 22, 2002
    3,686
    Vt
    A piece of advice someone gave me that I found wise was to remember it is not always how much you earn but what you do with it.
     
  5. atheyg

    atheyg Guest

    A soup of flour and water, ketchup sandwhiches and Top Ramen

    Live like you are poor even if you have some $$.
     
  6. Jimmy540i

    Jimmy540i Formula 3
    BANNED

    Jan 11, 2004
    2,450
    Los Angeles / NYC
    Full Name:
    www.Jimmy540i.com

    says she can't ;)
     
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  8. RF128706

    RF128706 Formula Junior

    Apr 8, 2004
    280
    That's right -- buy a lottery ticket...
     
  9. Texas Forever

    Texas Forever Four Time F1 World Champ
    Rossa Subscribed

    Apr 28, 2003
    47,419
    Texas!
    Story of my life...

    (John D. Loudermilk)
    I was born in a bunk
    Mama died and my daddy got drunk
    Left me here to die or grow
    In the middle of Tobacco Road

    I grew up in a dusty shack
    And all I had was a'hangin' on my back
    Only you know how I loathe
    This place called Tobacco Road

    But it's home
    The only life I've ever known
    Only you know how I loathe
    Tobacco Road

    I'm gonna leave and get a job
    With the help and the grace from above
    Save some money, get rich I know
    Bring it back to Tobacco Road

    Bring dynamite and a crane
    Blow itup, start all over again
    Build a town, be proud to show
    Give the name Tobacco Road

    Cause it's home
    The only life I've ever known
    I despise you 'cos your filthy
    But I love ya, 'cause it's home
     
  10. parkerfe

    parkerfe F1 World Champ

    Sep 4, 2001
    12,887
    Cumming, Georgia
    Full Name:
    Franklin E. Parker
    Get a good education in an area that will allow you to secure a good paying job,or better yet to start your own business. After you have a house, a daily driver and made a good start on savings for retirement and kids college, buy you a Ferrari to enjoy. Have fun!
     
  11. Bobert

    Bobert Formula Junior

    Jan 17, 2004
    277
    Oak Hill VA
    Carry your lunch to work. Peanut Butter is relatively cheap!
     
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  13. boxerman

    boxerman F1 World Champ
    Silver Subscribed

    May 27, 2004
    13,181
    CT
    Full Name:
    Sean
    Start with the Ferrari, then wife then kids then house, make sure you keep the ferrari through this untill your income rises to the point where you can buy another ferrari. If necessary use a motorcycle, bycicle, beater or train to get to work.

    Whatever happens dont give up the ferrari, wives are usualy not sympathetic and can have many other uses for the money, just remember you cant drive drapes and once the car is liquidated and the money spent it can take quite a while untill you have earned enough to pay for the basics, schools house wife vacations etc, before you can to buy one again.
     
  14. PerryJ

    PerryJ Formula 3

    Jun 5, 2003
    1,909
    N. Alabama
    Full Name:
    John Perry
     
  15. SrfCity

    SrfCity F1 Veteran

    Nov 1, 2003
    9,842
    Orange County, CA
    It really is simple; just make sure that you've got more $$ coming in then going out :)
     
  16. kevfla

    kevfla Formula 3

    Nov 20, 2003
    1,977
    Full Name:
    gone 4 good
    "Eric Burton Declares War" is one of my favorites. I wonder if it's been re-released on CD?

    KevFla
     
  17. BigTex

    BigTex Seven Time F1 World Champ
    Rossa Subscribed Owner

    Dec 6, 2002
    74,279
    Houston, Texas
    Full Name:
    Bubba
    OK, Jimmy.......LOL!

    Still cute!!!!!!!
     
  18. lukek

    lukek Formula 3

    May 2, 2003
    2,049
    San Francisco
    Full Name:
    LK
    Best rock lyrics about making it (or the seedy side of not making it) are by Tom Waits.
    Here is a collection of his lyrics, I am pasting in "Frank's WIld Years:

    http://www.lyricsdownload.com/tom-waits-lyrics.html


    Well Frank settled down in the Valley
    and hung his wild years
    on a nail that he drove through
    his wife's forehead
    he sold used office furniture
    out there on San Fernando Road
    and assumed a $30,000 loan
    at 15 1/4 % and put down payment
    on a little two bedroom place
    his wife was a spent piece of used jet trash
    made good bloody marys
    kept her mouth shut most of the time
    had a little Chihuahua named Carlos
    that had some kind of skin disease
    and was totally blind. They had a
    thoroughly modern kitchen
    self-cleaning oven (the whole bit)
    Frank drove a little sedan
    they were so happy

    One night Frank was on his way home
    from work, stopped at the liquor store,
    picked up a couple Mickey's Big Mouths
    drank 'em in the car on his way
    to the Shell station, he got a gallon of
    gas in a can, drove home, doused
    everything in the house, torched it,
    parked across the street, laughing,
    watching it burn, all Halloween
    orange and chimney red then
    Frank put on a top forty station
    got on the Hollywood Freeway
    headed north

    Never could stand that dog
     
  19. FourCam

    FourCam Formula Junior

    May 19, 2004
    401
    Loveland CO
    Full Name:
    Cameron MacArthur
    Boxerman got it right--get the F-car FIRST, then house, then kids, then wife, er, well something like that but the car, unlike some of the others, will never diss you and like all inanimate objects eventually succumb to reason. Get it now? No, GET IT NOW, or you never will.....
     
  20. secs

    secs Rookie

    Sep 8, 2004
    36
    There are many people who can afford to buy expensive cars. A new 360 Spider will cost approx $195 plus tax.
    If you are guy earning a few hundred thousand a year, it will take quite a while to save up enough disposable income to part with that kind of money without altering your lifestyle. You don't want to own a 360 Spider, but then have little money saved for retirement, have little or no other possessions and live in a shack.

    However, on the other end of the spectrum, there are guys out there who make lots of money. For example, hedge fund guru Bruce Kovner earned $600 million last year. That equates to approx. $11.5 million a week in salary before taxes. Assuming his workday is 5 days, that is a gross salary of 2.3 million dollars a day. James Simons earned 300 million last year, Stevie Cohen earned 150 million, etc, etc. Even the lowest man on the hedge fund totem pole earns 1-7 million per year. Guys like Bruce Kovner would have to work approx. 1.5 hours to earn enough money after taxes to afford a new 360 Spider.

    Of course, you also have the guys earning $300k per year who save & budget and buy a 360, but they live modestly with respect to other toys & possessions.

    The question is not how do they afford to buy, but who is doing the buying and what does he/she have left!!
     
  21. 208 GT4

    208 GT4 Formula 3

    Dec 27, 2003
    1,700
    Brighton (UK)
    Full Name:
    Dan
    There is another way, as recently proved by UK motor journalist Chris Harris.

    In his case he bought a Gallardo, but the principle is the same.

    You identify a car that is not yet for sale that will demand a premium on the secondhand market. (The difficult bit).

    You then get your name down early and buy one when they first come out. You have to have a sizeable deposit, plus be able to finance > £1k per month, but you get to drive a new supercar for 6 months, then sell it at a premium to cover your costs.
     
  22. jimpo1

    jimpo1 Two Time F1 World Champ
    Silver Subscribed Owner

    Jul 30, 2001
    22,639
    Dallas, TX
    Full Name:
    Jim E
    JMHO, but if you're still thinking in terms of 'payments', you're no where near buying a Ferrari. Find the poll on here about how many owners paid cash for their cars. If you can't 'afford' to pay cash, even if you elect not to, you're not ready to buy.
     
  23. Owens84QV

    Owens84QV F1 Rookie

    Oct 2, 2001
    4,482
    Somewhere in NC
    Full Name:
    Greg
    In my case, Boxerman got it right...but there are also other pieces that help make up the puzzle. I got my 308 before I got married. I sold a super clean numbers-matching muscle car to get 75% of the $$ for mine and had the rest in the bank. Once I got the 308, I got married.

    For #2, my wife owns a real estate business that caters to those on the high end. Buy either buying or leasing the next one soon to come, she (ahhh...I) can use it as a business expense.

    As many have said, there are many many ways to afford one. I have also learned over the years that there any many many people out there who have far more disposable $$ to spend that I will ever comprehend.
     
  24. jbtrader23

    jbtrader23 Karting

    Apr 20, 2004
    174
    Los Angeles, Ca
    How you spend your time is a crucial ingredient for wealth and for success.

    I read somewhere that the average person in the US will spend 9 years (9 years!!) of their life watching TV. That's not even counting time spent in traffic, spent in line, spent focusing on things that will never matter to them.

    If you start valuing your time higher than those around you, you'll get alot more done in less time.
     
  25. venusone

    venusone F1 Rookie

    Mar 20, 2004
    2,809
  26. Kevallino

    Kevallino Formula 3

    Feb 10, 2004
    2,248
    Los Angeles
    Full Name:
    Kevin
    Which explains the GT4... :)

    I jest, I jest!!!

    Cheers
    Kevin
     
  27. Ken

    Ken F1 World Champ

    Oct 19, 2001
    16,078
    Arlington Heights IL
    Full Name:
    Kenneth
    A 360? Well, that takes income. A Ferrari? Now we're talking. Anyone can buy a 308 with a modest income. You need to make the commitment to the car. You will need to learn how to work on your car because it will be too expensive for you to take it to some idiot that still won't get it right and charge you twice. You'll need to learn to change the oil, belts, brake issues, electrics and lord knows what else, but it can be done.

    You'll need a garage and you'll have to buy some tools. The support group here will amaze you with expertice and help; you'll need to see who has real experience and who is just chiming in. Make some friends.

    I knew nothing about cars when I went the sports car route, so I bought a Europa TC. Cool car, simple mechanics. I now know a lot about cars and how they work. Maybe a Ferrari is next for me. You'll need to do that too, but if I can do it anyone can!

    Be dedicated and focused and things will work out.

    Ken
     
  28. jscar71

    jscar71 Formula Junior

    Jul 14, 2004
    354
    Montreal Qc, Canada
    Full Name:
    JScar
    Checked out your website, Beautiful Cars, beautiful bike, beautiful guns, Beautiful woman.

    She yours also?
     

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