What % is your Ferrari of your net worth?

Errrr, about 270%?

I presume everyone knows the urban legend of the bloke who owned a Lambo Miura, but nothing else. He lived under a railway arch, with the Miura.

All a question of priorities I suppose...

Robert.

 

Interesting thread....... i've voted

 

regarding comments on houses: I don't own a house, just a Ferrari . Cars are much more fun, right?


I can't get a big morgage as I'm self employeed and income can be very irregular. So I'm saving up to buy outright (when market drops in future) - thats probably MORE cautious and less risky that most people, as morgages are just very large loans after all.

I'm just doing everything @rse about titt.... sod it! I'm going to buy a Murci instead

 

looks like you will have a house in the next six months as the house market is falling every day up north big style eastate agents are now talking properly doing deals as they are desperate for buisness there is more houses for sale in the uk now than there has ever been

 

We've had these discussions before and i'm always surprised that a £50 k car takes priority over putting that same £ into property, or other investment. You obviously saved for the car so could've put that down as a deposit.I'm in a similar postion re employment as my trading company effectively is contracted to the people who back my trading positions.
It obviously is up to you what you do with your £, this is just MO

 

There is a fixation in the UK with owning property where many people will put themselves under massive financial strain just to 'own' their own home (or pay huge amounts of money each month to the building soc).

Or more importance I say is to save for your future. People say "ahh, but my property is my pension fund". Hmm. Exactly how is it going to pay you an income when you retire, assuming you don't rent it out and live in a box?

Just a thought...

 

I saw a very good quote on Fchat once.

" You can live in a car but you can't drive a house "

 

Ahem...sounds familiar.

I charge 1p royalty every time you use it, or you can tell me how to put those smilieys in my postings.




Thing is , I could have got a Ferrari years ago, but everytime I save up money I end up investing it in either property or a new business.

I've just saved up half the money for a 355 which I was expecting to buy on finance early next year. Instead I'm now setting up an estate agnecy business. So it looks like the 355 is postponed for another year.

 

yeah I know where you are coming from, and it makes sense. I guess the (IMHO) v v high price of houses have put me off buying over the last 3 years, before that I wouldn't have had enough money to buy a house anyway. Believe me I wish I had enough money to buy a house when I was 21 - then I would have been sitting pretty on an awesume investment! Right now, buying would be foolish I think.
Ade

 

Thanks Kevin.

You know have unlimited use of that phrase..

 

At least if you buy a car vs an investment you know what you are getting (subject to PPI!). You can enjoy it as it falls in value!

 

I was 23 when I bought my first house, still lived with the folks and rented it out, then two years later I bought a 5 year old porsche 928S4, and paid more for it than I did for the house, oh how times have changed!!!
Steve

 

I don't think there is ever a bad time to buy a house - it's only a question of when you should sell it.

 

I'm in exactly the same position. Prices round here are beyond ridiculous, problem is I can't see the low end of the market (£200K & below) ever dipping much. There will always be too many people to invest in buy to let/developing. The craze is out of control, just have to turn on the tv.

 

A Miura.......*sigh*.......what else would one need, really?

 

If you buy a ferrari before a house you are plain mad.

life comes down to what you can afford and your priorities. Up north we use the phrase "fur coat and no knickers"

Buying a flash motor before a house is exactly that in my view.


Comments about it is my retirement nest egg are very good comments as most people move to a small flat or bungalow when they retire, leaving a nice wedge of cash to suppliment their pensions from the sale of their main residence.

The best investment I ever did was buy a house, then another and another.....etc etc.

If I had spent the same cash on cars instead of houses I would be suicidal at present. Instead I'm a happy chappy.

In summing up I prefer to wear knickers

 

A small portable toilet?

Stonking car though

 

Reminds me of a couple of young ladies I met on a night out in Newcastle......

 

We have the same down South....except they charge £500 per hour.

 

What you do in your spare time is up to you

I heard a similar-meaning phrase in the USA once- "he's all hat and no cow" which made me laugh.

Robert.

 

hum...Thanks for the vote of confidence ... I can assure you I'm not mad, I just like livin it up while I wait for the housing correction (crash, whatever you wanna call it). Your statement is perhaps a little simplistic, maybe it should read 'putting ALL your cash into a Ferrari is mad if you haven't already bought a house'

I personally think 25% is about maximum u should put in for any car if you are in your 20s , then perhaps 15% if in your 30s+ as you start to be more sensible and think about wife/kids etc...

Is that fair?


Yeeeeee haaaaa ..... my cowboy hat is bally well HUGE!
Ade

 

Some mad statements about being mad here

As Ade said, soaking every last penny into a Ferrari is probably unwise. But only probably. Each to their own.

I owned a house once, jointly with a girlfriend. Frankly, THAT was mad

The housing market in the UK is not a sensible place to be buying into at the moment as I see it. Give it 12mths and we'll see what gives. But something has to.

Meanwhile I'll enjoy my cars (both of them - though at the moment I'm 6k miles away from them) and relish the fact that I can up sticks and move to anywhere, absolutely anywhere I want to as my funds are now largely liquid.

No hassles with any sort of debt. Just two cars and a bunch of stuff in storage waiting for me to become a boring old fart and go and live in Surbiton

No house and two cars. Stark raving...