Why do we worry about resale?

Better late than never JSL

Treat 'em well, but enjoy 'em.

 

This makes me happy!

DL

 

I just assume no one will ever want to buy my 348 from me so I am driving it like I stole it and not even thinking about value. If I want another car I will just save up and get another one. Haven't sold a car since 1994 - now have 5 on two continents and just working through the list.

Go, man, go - why save it for the next guy/gal when you can enjoy it yourself now???

Cheers
Kevin

 

A few years ago, I had a conversation with a guy who had just leased a new 550 and admitted he was making payments north of $3,700.
He was boasting about how he planned to keep the miles really low, in order to preserve the value for 2 years, then get out of it.

Good plan, huh?

So I asked him what he thought a two year old 550 was worth. He thought it was about 15-20K less than new. OK.

Then I asked him how he felt about spending well over $86K in lease payments, just to save 15-20K and give a low milege/garage queen to back to Giacomo?

He's probably still standing there in the showroom of FBH with his mouth agape!

DL

 

Or you can earn a higher after-tax rate of return on your money elsewhere (or so you believe).

 

The guy I met there could not have comprehended anything like that.

DL

 

Ahhh, one of those referred to in the "not all Ferrari owners (term used loosely) are Ferrari drivers" portion of the programme, I reckon.

Cheers
Kevin

 

I am with you!
Does anyone remember this headline in one the car magazines in 1976?
“It may not go much faster than a Corvette but it is a batter investment than gold bards”.
This pertained to the 308gt4.
I used the gold bar story to convince my wife to get one.
Mine is a 1976 ‘addition” with 80,000 miles on it and never worried about its resale value. It is a fantastic driver’s car when well maintained.
How could you worry about resale value when the cost of replacing a muffler now is over 10% of the value of the car ?
Ferraris are built to be driven by passionate people.
For those who like to look at them a super size photo mounted a garage wall is a better investment.

 

I estimate 90% of Ferrari owners are not Ferrari drivers. What a waste of wonderful sports cars.

Said another way, 90% are purchased purely for show (by my estimate).

 

here here!!. ive told my family that i will no doubt be killed in my 348, but i love it and drive the wheels of it anyway. how often do you hear of some guy being killed climbing everest, and his father come son tv and says "well, he died happy because he was doing what he loved". well, thats how you know you love ferraris. when you know that the rescue team will have a hard job cutting you out of the wreakage - ever tried to get a three meter wide smile through those doors.

 

Yep. Tho the really cool ones set land speed records in parking garages and others drive priceless relics down the interstate.

It's a car. Drive it.

 

V12s.

 

I'm in the 10% group that drive. My 308 has 91K and I can't wait till the big roll over day.

 

My 308 was built to be driven and I am doing just what it was made for driving and enjoying. It is up for sale in ad section, but until I sell it I will drive the Ferrari.

 

JSL -- Welcome to sanity -- on your deathbed, I don't think you'll say: "Gee, wish I hadn't driven the F so much".

(86K and counting operational F miles for me)

 

I like your thinking. What's the point of having one - and not to be able to enjoy it in the way the designer meant it to be enjoyed. A lot of people have mentioned that it's a moving piece of art or art in motion, keyword being "motion".

 

you make a great point...we all get sucked in this mentality...but of course it depends how much you stretched to buy you f car...i over stretched t buy my ex 360 spider, so i was paranoid about taking it place ...perhaps it would get a rock ding, door scratch,pot hole suspension damage....but i think even with 40k ferraris people get caught up in the show car mentality....it really prevents one from fully enjoying the ferrari..next f car i get, i am going to drive it like any other car ....whats the point of having this great sports car and only driving it sunday afternoons?..my cousin, who has a 512 tr, says that driving the ferrari regularly will ruin the special occassion of the drive...he says you get used it and it becomes like any other car or thing you get used to...

 

I never understood why some are so concerned with depreciation. I used to know some individuals who would spend a bundle on a car, and keep it in the damn garage because they think its going to be worth more money. So what, after 30 years of being in the garage, your 30 years older, and your lucky if you still have hair, and made it through life without any health issues. Buy it, drive it, enjoy it, and leave it to someone you love when you leave this earth, because by the time it appreciates, you may be gone. I myself drive my car like all others. I just clean it, and maintain it very well.

 

I tend to agree.

Conversely though, it also raises your standard of living on a daily basis.

 

"Why do we worry about resale? "

Because successful people make money and not lose money. It's a mental issue more then financial.

 

I bought my 02 with 5k miles. I plan on driving 5k miles a year. The only thing that gets me through my week at work is thinking about driving on the weekend. The car will be worth what's worth when and if I sell. I'm not losing any sleep over it. TGIF, big driving weekend down to Newport. 100 miles each way. I better call my accountant and check on the cars value after this weekend. LOL.