Buying a ferrari because...... - Ferrari Life
 
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post #1 of 5 Old 10-24-2010, 06:36 AM Thread Starter
 
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Buying a ferrari because......

I figure there are no great investments going on at the time, maybe i could score 7% , but its still risky. So my money has no where to go and nothing to do, so since i only want to pay cash and not get involved in taking a note of anykind; i guess there is no time better than now for a 355. Plus i figure in a few years if the economy comes back i could always sell it without taking to much of a bath. If anyone see a flaw in my thinking please let me know. Im new to the ferrari world and scared as hell about catastropic repairs. Thanks guys
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post #2 of 5 Old 10-24-2010, 06:53 AM
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Originally Posted by Vino1 View Post
I figure there are no great investments going on at the time, maybe i could score 7% , but its still risky. So my money has no where to go and nothing to do, so since i only want to pay cash and not get involved in taking a note of anykind; i guess there is no time better than now for a 355. Plus i figure in a few years if the economy comes back i could always sell it without taking to much of a bath. If anyone see a flaw in my thinking please let me know. Im new to the ferrari world and scared as hell about catastropic repairs. Thanks guys
Don't be scared. It's either you owning the car or the car owning you. If you're scared, it's going to be the latter.

Go crazy Vino!
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post #3 of 5 Old 10-24-2010, 01:52 PM
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Just don't buy it as an investment, but as fun thing to do with your money without spending ridiculous amounts of money. Of course, everybody's definition of ridiculous is different.

But gain money on it? Extremely unlikely. Your best bet for that at the lower end of the scale is finding a perfect 308 vetroresina. Which will be very tough.


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post #4 of 5 Old 10-24-2010, 02:07 PM
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I think you ought to sit back and reconsider as to why it has to be a 355. From the tone, it seems like you have not done adequate research to make a prudent decision. What I mean is, have you considered other models too ? Novice buyers tend to start with the prices and looks. You need to go deeper and compare the models to reach a decision. Are you after the so called modern models or older carbed ones ? Next step would be to drive them and see how you like it. w/ smiles Jimmy
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post #5 of 5 Old 10-24-2010, 02:50 PM
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A 355 is a good a candidate for higher maintenance costs I'm afraid. If maintenance is your concern then you could get a third party warranty on the car (I had one on my old 355 and it paid for itself within the year when one of my exhausts developed a hole and had to be replaced, an $8k bill I seem to remember)

You really have to want to own a Ferrari, it's not for the faint of heart. However I have to say in 11 years of owning 6 Ferrari's the only bad days have been when i've been "between Ferrari's" and have had a lonely space in the garage with the battery tender cable hanging from the roof with nothing to connect it too :-(

Life is short, put a smile on your face ever day you go in that garage! Money is just a number, its what u do with it that counts - Go for it!

last thought - You might want to consider an early 360 instead - easier and cheaper to maintain.. Make sure what ever car u buy has had the most recent major service done - that's a belt change and can cost 5-7k on a 355, 3-4k on a 360 (from memory) as the engine does not need to be dropped for the service.

Nuf said!

Current Ferrari owned: Red Scuderia
Past Ferrari's owned : 355, 360 stick, 360 F1, Challenge Stradale, 550 Marenello

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