When, financially wise, did you buy your ferrari?

Actually, I live in Shanghai. 20 million people isn't exactly small.

I live in a smaller town in the south when I am stateside, but that doesn't mean all of my property interests are in my backyard.

 

Gotcha. I figured. ;-)

Bill

 

I am with you on that. I watched the ocean front property do its thing in Costa Rica and learned from that. Now am seeing the same thing going on all over central america. I just bough 2/3 acre of oceanfront on the Pacific coast of Nicaragua. Great area, very friendly people, safe environment and great growth opportunity. Also fully insured with First American Title. Lots of US and euro money flowing into the area from buyers thinking the same thing. Close to Granada which is a very cool colonial city in the mountains.

 

Good decision!

 

Wait Kevin!?!?!? I thought you already had one???

These were posted YESTERDAY on Supraforums:

Guys,

I'd be a little careful in your dealings with Kevin. He's been misleading people over on Supraforums (and I'm sure other boards) about his accomplishments with his "shop" (which doesn't exist) and how many cars he's built, his "international driver's license," the Ferrari he owns, an "insulation business" that is really just a piece of paper (stagnant or not even real)--not to mention he did all this before his 16th birthday?

He's claiming to own a Ferrari now on Supraforums but is actively looking for one on Ferrari chat--just 3 days apart? So Kevin, you bought one and had it back up on the market 2 days later because it was too expensive to keep up?

Kevin, buddy...quit dreaming and lying to everyone on the Internet. Its okay not to have a Ferrari. You are doing a disservice to shops who actually build cars, have inventory, and do R&D.

Best of luck to you and your company in the future, but its time you start telling the truth instead of stretching it until it breaks. Your business ventures won't last long at this pace.

Regards,
Cory

 

I knew at 16 years old that you paid cash for a Ferrari. So I ditto the responses that you never finance a toy.

I also know you "generally" never own something like that and then get married, as youll probably find the wrong women. Find a women and own a house first, and make sure the women knows your true desire, be honest and up front, and dont buy more car than you can truely afford. My wife knew I wanted a Fcar, and encourages me. I could have bought a 348 for cash but a beater 308 GTB makes more sense for now. No need to overextend eh? We both think we should have bought the 330 GTS two years ago listed for $69K, lol

 

Excellent advice for the young and single. If its what you want, do it. Life is definitely short. I look back and realize that I could have afforded to take my pick of probably 50% of the 60's Ferrari models when I got my first real salaried job in August 1977 after graduating in May.

Fast forward> December 1, 2002:

-Age 53, senior professional, well paid but probably on the more modest end by Fchat member standards.

-House and 2 other cars paid for

-No loans or debt outstanding, credit card balance paid off monthly

-carrying full health, life, and disability insurance

-my health excellent, wife has ongoing health problem but well insured.


Paid all cash for purchase price and acquisition costs for 330 2+2. Did not finance purchase price even though I did have a home equity loan lined up to use if needed.

Took on an extra project (large home for private client) and worked nights and weekends straight through for three months on top of my regular job to earn cash for reconditioning of 330.

So, I now have a great running and dead-on reliable, very nice looking, sounding, and driving Vintage 2+2 in which I have invested 4x the price of a new one in the mid 60's. 100% paid for. To bring this car back to "new" or 95-point plus condition would cost an additional 40 to 50 grand, for a total investment of around $100K.

An extra nice all original 330 2+2 would have been maybe $10K in 1978.

No regrets at all. Life is looking way shorter from 55+. I'm just thankful to have been able to own one, however it happened.

 

Who cares what other people do when they buy a Ferrari or anything else for that matter. If you can afford it cash fine. If you can afford a monthly payment fine. If you want to lease it fine. What does it matter?

 

I agree.....but, damn, I didn't learn that as early as 16!

 

When I could write the check and not worry about the money. I wanted a Ferrari since I was about 15 years old, couldn't afford one, got into bikes. My hero was John Surtess (sp?) who I had the good fortunate to meet once. Came from motorcycles to car, and the last person to have won world championships in both classes.

Art