Can someone be my Suze Orman can I afford it? (My first ferrari) - Ferrari Life
 
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post #1 of 13 Old 02-01-2014, 09:01 PM Thread Starter
 
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Can someone be my Suze Orman can I afford it? (My first ferrari)

Hi guys, I've always wanted an exotic car worked hard in my young life. Got my education done.. MBA etc.

Now I'm 27 years old and here are my stats, I'm looking to buy a Ferrari 05-07 F430

Going into not only purchasing the car.. without trying to finance it.. also insurance costs maintenance etc etc.

Can I afford it? Yes or No

I don't own a house, and I have no debt.. finish paying off my schools this past summer.

Let's start with cash: (straight copy and paste from my mint.com account)
Accounts

$302,323.46 Cash Total


$197,588.55Chase Bank
11 hours agoCPC SAVINGS

$78,475.80Chase Bank
11 hours agoTOTAL BUS CHK

$17,725.04Chase Bank
11 hours agoCPC CHECKING

$6,215.69Chase Bank
11 hours agoCPC CHECKING

$1,500.00Chase Bank
11 hours agoTOTAL BUS CHK

$503.00Chase Bank
11 hours agoCPC SAVINGS

$101.38Chase Bank
11 hours agoBUS SELECT HY SAV

$18.93Chase Bank
11 hours agoBUSINESS CLASSIC

$113.91Pen Federal Credit Union
11 hours agoEveryDay Checking

$81.16Pen Federal Credit Union
11 hours agoShare Savings

Stocks:

$437,436.41Investments

$423,570.90ETRADE
31 seconds agoETRADE
$13,865.51ETRADE
32 seconds agoETRADE


2012 Audi A5, Probably worth around $35,000 right now (no loan on it paid cash)

Total Networth:
$739,759.87 + My Audi A5 whatever I can get for it.


I don't want to add the cash value of the a5 into the networth because I plan on keeping it as my daily driver.
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post #2 of 13 Old 02-01-2014, 10:34 PM
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???

Are you kidding ? ..lol...
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post #3 of 13 Old 02-02-2014, 04:39 AM
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I'd suggest first buying a house, but yes, you can afford an F430. I'm curious however how you accrewed almost a million in cash by age 27 and while going through school.
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post #4 of 13 Old 02-02-2014, 06:22 AM
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post #5 of 13 Old 02-02-2014, 08:06 AM
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Quote:
Originally Posted by wetpet View Post
looks good to me
+1. Those numbers tell me you are way more smart than most of us here, especially myself, that you do not need our blessings. When I was around 27, I recall I had less than 1k in my account.

Enjoy your F car in good health.

w/ smiles
Jimmy
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post #6 of 13 Old 02-02-2014, 09:23 AM
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I'd buy a 8-car garage and 1BR, 1B house first.

Congrats
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post #7 of 13 Old 02-02-2014, 06:35 PM
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Ferrari or whatever is a reward - if one feels they have earned the reward by all means do it.

Advice is like anything else you get what you pay for - and given the OP it sure seems like this forum is a test for grad students writing papers!

mint.com vs myth.com
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post #8 of 13 Old 02-02-2014, 07:16 PM
 
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hmmm...

I agree with the others. house first or place with at least 2 garage stalls. with your assets id consider you successful. congrats and can't wait to see what you end up with. have you thought about 458???? Btw theres no way I coud have had that kind of moolah in the bank at 27! At that time just got done paying mine and wife's student loans and down payment on house.... kid on the way...etc etch etc etc.... you are fortunate indeed!
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post #9 of 13 Old 02-02-2014, 07:57 PM
 
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Quote:
Originally Posted by lucca brazzi View Post
Are you kidding ? ..lol...

I'll second that motion, in whatever way you wanna take that post. In all the years I've been participating in various discussion boards, I've never seen a post of that nature.
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post #10 of 13 Old 02-02-2014, 09:33 PM
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The car is the last thing you buy in my estimation. Keep investing and like Doug said, when you feel you have really earned an f car then buy it.
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post #11 of 13 Old 02-03-2014, 02:39 AM
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Quote:
Originally Posted by ssaadian View Post
Hi guys, I've always wanted an exotic car worked hard in my young life. Got my education done.. MBA etc.

Now I'm 27 years old and here are my stats, I'm looking to buy a Ferrari 05-07 F430

Going into not only purchasing the car.. without trying to finance it.. also insurance costs maintenance etc etc.

Can I afford it? Yes or No

I don't own a house, and I have no debt.. finish paying off my schools this past summer.

Let's start with cash: (straight copy and paste from my mint.com account)
Accounts

$302,323.46 Cash Total


$197,588.55Chase Bank
11 hours agoCPC SAVINGS

$78,475.80Chase Bank
11 hours agoTOTAL BUS CHK

$17,725.04Chase Bank
11 hours agoCPC CHECKING

$6,215.69Chase Bank
11 hours agoCPC CHECKING

$1,500.00Chase Bank
11 hours agoTOTAL BUS CHK

$503.00Chase Bank
11 hours agoCPC SAVINGS

$101.38Chase Bank
11 hours agoBUS SELECT HY SAV

$18.93Chase Bank
11 hours agoBUSINESS CLASSIC

$113.91Pen Federal Credit Union
11 hours agoEveryDay Checking

$81.16Pen Federal Credit Union
11 hours agoShare Savings

Stocks:

$437,436.41Investments

$423,570.90ETRADE
31 seconds agoETRADE
$13,865.51ETRADE
32 seconds agoETRADE


2012 Audi A5, Probably worth around $35,000 right now (no loan on it paid cash)

Total Networth:
$739,759.87 + My Audi A5 whatever I can get for it.


I don't want to add the cash value of the a5 into the networth because I plan on keeping it as my daily driver.
While you are about it, may we have the passwords to the accounts, please?

Best wishes, John
Ferrari: 550 Maranello S/N 110995, Dino 246 GT S/N 6934
Other: 1990 Bentley Turbo R, 1989 Porsche 911 C2, 2004 Mercedes 500CLK, 2011 Mercedes E350 CDI, 1972 VW T2 Camper, 2014 Fiat 500C, 1963 Jaguar E-type 3.8 FHC, 2015 Maserati Granturismo Sport
Website: http://bluebottleonline.com/
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post #12 of 13 Old 02-03-2014, 04:32 AM
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Quote:
Originally Posted by Bluebottle View Post
While you are about it, may we have the passwords to the accounts, please?
and account numbers for wire xfer please?
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post #13 of 13 Old 02-03-2014, 04:32 AM
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Time for the sun to come up and turn the OP into stone.


Onno



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