What do you tell your friends?

Tim1137-

I hear you on this one. I'm not so concerned about my friends - we all know where we stand with our finances.

My problem is at work. A few people around the office heard through the grape vine that i purchased a Ferrari. Now they all think i must be way over payed or kissing my bosses ass.

Actually my boss is the one that I'm worried about. I don't want him to know. Then he will start thinking he's paying me too much.

In reality i don't make that much money, under $75K a year. I just made some good investments over the years and made some side money.

So for the most part I just keep it a secret and only drive it on weekends.

Jay

 

"How do you afford that"

How can I afford to go through life without?

 

That's a really tough question and one that every FCar owner faces at one time or another. Unless you are a real snob it's understandable why you would feel sensitive to the situation. In the end, this is how I deal with it (everyone has their own opinion on this I'm sure): I work hard as does my wife, we have always lived within our means and pay cash for everything, we are also generous people, we have several charities and two universities that we support financially every year. We know our good fortune and hard work in life allows us to enjoy these "luxury items" and we always wish the best for our friends and relatives. When people ask us "how can you afford such a car?" we simply answer "we have saved our discretionary dollars. To buy something we really love". I find that more people that are not car lovers ask why would you spend so much on a car that will only depreciate over time? We answer, cars are one of our true passions in life and this gives us great pleasure.
My advice, Make the purchase and don't worry about what the others think. If they are truly friends they will be happy for you! Enjoy!

 

i buy my Ferraris when values (or lets say prices) are down.
that worked with the 348 Spider, the 308GT4 and the 456 MGT.
i do not loose money on depreciation.
my Ferrari dont cost more than a new BMW or Mercedes.
so i dont hide them from people around.

 

Allow me to give you in my case the opposite perspective. I don't own a Ferrari (or exotic) but a close friend recently bought a Gallardo and Gallardo racecar. This buddy was always broke and since then he has done extremely well. I can only be happy for him, I want my friends to do well.

Bottom line if your friends are envious of your achievements question yourself how good is to have them around you.

Work.... that may be a different thing, especially with supervisors and direct bosses.

 

Tim,

I have treated my Ferrari ownership in the same way as you describe. That is, only my closest friends, family, and local car enthusiasts know I own one. It has been this way for almost 20 years now.

One piece of advice is to be prepared to explain why you wanted to buy one in the first place. People assume you did it to show off your wealth and rub their noses in it. It helps when you can share with them what makes the cars special and why you're passionate about them. Things like the racing heritage, the unique sound of a flat crank at high rpm, the mid engine cornering ability, the precise way they shift, the striking beauty of their designs, the feel of their all leather interior, how few were made over the years, etc. Most cars are an appliance but driving a Ferrari is the dream almost every car guy wishes for.

Also, consider becoming a subscribed fchatter and join the Owners Forum. It is a hidden place on the Internet (not searchable by google) where you can post pictures of you and your car having fun.

 

some know, some don't

http://www.ferrarichat.com/forum/showthread.php?t=104300

 

I've had one for so long no one bothers to ask anymore.

 

Exactly. You pick and choose those that you think will appreciate the car for what it is.

 

"People choose to spend their money on so many things... I choose to spend mine on a Ferrari."

 

The answer: "by saving for a long time, and being smart with my money"

A guy I work with likes to bust my balls about my 348. He'll say something to the tune of "well you own a Ferrari". I give it right back to him and say, "Yeah well you own not one, but TWO houses. My little car doesn't cost even as much as your T W O houses. (in as sarcastic a voice as I can say) How greedy can you be to have T W O houses. And your complaining about my little red car?????? ". LOL That usually shuts the conversation down REAL fast.

Just find something that they own that costs the same, or even more, than your Ferrari. This way if they do find out you own it, you have something to bust their balls with, should they decide to give you a hard time.

Me, I don't give a damn.
Everyone in my family, work, neighborhood, friends, all know I own a Ferrari. I drive it to work all the time. It's now to the point that when I don't drive it to work people ask "where is the Ferrari" or "how come you didn't bring the Ferrari". I worked VERY hard to get my Ferrari, and I am NOT going to hide it just because others might say something.

Matter of fact, last week I got the bird driving down the freeway. LOL!!! Haters are gonna hate.

 

Let me tell you. I had started a new job to add to my income from my prop business. As soon as people found out I bought my Ferrari I could see a shift in the office. Some people thought it was cool. But most seemed very standoffish.
And coincidently I was let go after only being there less than three months due to my "sales". My fiancé wondered if it was the car. Looking at it from another angle I could see it being that way.
My sales were fine. Not as well as I personally would have liked but it was a new industry for me and even though I was only there for three months I realistically was selling for only 6 weeks. Yet I was number 10 out of 22 reps. You tell me....
I am a very good sales representative no matter what I do. So yeah I think the car played a role.
My friends could care less. Most by far think it is pretty bad a55.
Oh and we live in an apartment by choice. We just hadnt figured out if we wanted to stay in Colorado long term but I think we are gonna start looking after the wedding. So that is out of the norm I am sure. I should start a poll ha ha.

 

True friends won't care. Good luck keeping the cat in the bag. People will find out and although you only drive it on the weekends, the car will get attention. Yes they are that flashy and irresistable.

For me the "how can you afford this" question isn't an issue... although I usually explain that I bought it at a great price, fix it myself, etc. etc. I've come to terms that I could bring it to work.. but that would be bad form. Other people don't see the affordability of the Ferrari experience. To "show off", even unintentionally isn't good manners. My patients wouldn't appreciate it either.

Why worry about this? it's your car who cares what others think.. I wouldn't worry about being labelled a rich snob as much as a $30,000 millionaire.

 

It kind of depends on what type of car it is. I drive a 328, so these days I just say "it cost less than a good bass boat" and the conversation is over.

If I showed up at my work in a 430, then there would be a LOT of resentment. As it is, I don't drive the 328 to my new job because of image issues for the company to it's customers. Upper management would not want a Ferrari of any type in the parking lot.

 

Keep it simple...Say you got a great deal on it and you (try) to do as much of the maintainence work on the car yourself.

 

Here is a tactic that has worked for me.

Respond as follows: "My favorite aunt (uncle/whatever) died and left me some money. Before she died Gracie told me to buy a Ferrari with the money she will leave me because she knew it was something I had wanted all my life. So, I am honoring Aunt Gracie's wishes."

 

However you look at it people react to cars, they are envy creating objects, and a ferrai is a red flag no matter what it cost.

I remember years ago a competitor had an old 928 as a daily. We are talking late 70's $10K car. Everytime the boss saw it he asked out loud who owned the porche in front of customers to make a point.

You can couch it however you want, people will react. When I hire someone to do work, if they show up in a really nice car like a new mercedes/lexus etc I assume they are making too much.

When an employee got a lexus for his wife, I mentaly felt they must be earning just fine, or if they have money issues then it is because they spend too much. By the same token when employees came to my house which is relatively modest and then saw my cars they all thought I am making so som much they need a raise.

Now if I hear somene is an enthusiast and has cars I am more likely to get on and work with them.

Point is if you have a nice car keep it under wraps at work as much as possible, its an image thing. You can start preparing the ground by letting people know in conversation you are serious car entusiast and given the choice spend your income on cars. You can tell them you know it is silly, unwise and superficial but it is your passion since chilkdhood.

Eventualy it will come to be known you have a ferrari, and then you can say its an older one and a life hobby. If people ask why you dont bring it, say its really just a hobby passion for me to enjoy and kinda expensive to drive, that way people understand and no one is offended by you showing off, they will just think you are a little crazy spending your money on a hobby instead of a bigger house etc.

I guess if you are a stockbroker or in the tech indistry where everyone around you is minting it then maybe it is ok to drive to work.

But to those who dont know a 360 is going to look like a new show off car.
In other words gently and slowly as conditions allow prepare the waters, so that when you are outed people just think youre a bit nuts about your hobby.

 

I am not sure I understand the not taking your Ferrari to work thing and not wanting your boss to know, etc.

I drive my 360 to work nearly every day and when I was looking I took days off to look at several cars and my boss knew why I was taking days off. My boss knows my salary, she knows I paid more for my 360 than she pays me for the year (and that is gross pay not net pay). My co-workers all know I am not overpaid, just that I worked 2 jobs and even briefly 3 jobs to pay for the car. I had to stop the 3rd job after only a few months...that silly need for sleep thing got in the way.

I don't believe it makes a difference to your job or anything like that, I drove my 360 to give job quotes (2nd job) and when 1 and only 1 so far asked me how I could afford a Ferrari and maybe I was charging too much, all I said was "I am very good at what I do and that is why you want me to work for you", I got the job, it paid for the dealer to do the front suspension rebuild on my 360. That actually brought up some questions from my co-workers as to why I took it in instead of doing it myself since I have 2 lifts at home and do all my work, they all know I am gearhead.

My neighbors are the one who think something is up, I don't live in a fancy schmancy neighborhood.

I don't understand why own a Ferrari and NOT drive it daily or near daily. Don't worry what people think, life is too short to not drive the car YOU want to drive.

 

My standard reply to those of similar means who ask wearing attitude on their sleeves:

Likely less than your country club membership, small airplane, hunting and fishing gear, or whatever. (item appropriate to person)

My real friends, who vary widely in means, don't give a rat's ass about my particular financial situation or the fact that I have a Ferrari. A wealthy friend and car guy about my age recently told me he'd put off getting a Ferrari all these years and it was time he did it. He wanted to know all the details and I freely gave him the full rundown without fear of judgment.

One rule I still wouldn't break - were I to pick up architectural work for a private client or on contract, no way I'd drive the Ferrari to a meeting or in-office work unless they had prior knowledge.

 

I find that some people who ask such questions ask not out of jealousy, but out of a genuine interest to understand how they might do the same. This is especially true at work. I always try to feel that out before I answer.

 

I have got that question a few times, and the answer I give is usually along the lines of "It's all about priorities, setting a goal and going for it. If you want something bad enough, you can find a way to make it happen."

Other times I point out to my multiple-child-endowed friends that while the price of admission may be a bit higher, longer term my cars cost a lot less than their kids.

Work isn't much of an issue. My boss tracks her Porsche and has a couple of vintage motorcycles in her garage. I may be one of the only ones in our office that knows that, however, just because we both share the same motorsport interest. Other folks just don't seem to care one way or the other.

 

None of my friends really asked. They know I've wanted one since I was a kid and that I've worked on and raced cars off and on for the last 15 years, so it was no big surprise and none of them asked me anything other than if they could have a ride in it.

The only thing I tell my friends is that it was worth every penny.