Join Date: Apr 2012
Location: Santa Barbara, CA.
Ferrari Life Posts: 199
I agree with 550JM, if you have to get a raise first be careful and perhaps a 430 is not for you, but....
I was looking for a 328GTS because I firmly believed for well over 20+ years that a Ferrari has to be a cash only car, if you don't have the cash in hand you can't afford a Ferrari and I firmly believed that. It took me several decades but I saved enough for a 328 and started looking. This April after looking at yet another 328, my wife got frustrated and said "your favorite feature is the engine under glass, buy one and be done with it". Against my better judgment, I called Penfed, got a loan approved, found a 360 and bought it, the very first one I looked at and all within a week of my wife's comment. I had to finance about $20k since all I had was enough for a 328 but stretching allowed me to get the car I wanted. I don't recommend to anyone buying the first 360 you see (and without a PPI) but it worked out great for me. Stretching to get the car YOU want is worth it when we are talking Ferrari's but you really need to sit down and figure out how to pay for it FIRST. Having to get a raise first is really risky (I realize the raise is a done deal now).
I know my finances really well and I was comfortable doing it (bought the 360 on April 12 and PAID IT OFF December 3 (a few days ago) ) even though I really hate debt financing allowed me to get the car. I do NOT know your finances at all but it sounds like you might be stretching a little too much, don't be offended, I don't know you or your finances.
I stand by my original recommendation, sit in a 360 and a 430, even if its the wrong color, or stick vs. F1, go to where ever you can to sit in them, yes its better to drive but sit and look at them side-by-side before deciding on a specific model.
Last edited by mikeyr; 12-07-2012 at 09:46 AM.