Greetings from a man with a plan ! :) - Ferrari Life
Reply
 
LinkBack Thread Tools Display Modes
post #1 of 32 Old 05-22-2014, 06:00 AM Thread Starter
 
Join Date: May 2014
Location: Belgium
Ferrari Life Posts: 34
Greetings from a man with a plan ! :)

Hey guys ...

My first post here ...
Unfortunately no Ferrari ... yet ... but it's on my planning.
I have a photo & videoproduction company and I just turned 35 last week.
Several years ago, I made some agreements with my wife.
Before purchasing a Ferrari I had to set my priorities straight.
This means owning our own house & having kids.
Now ... after several years ... the house is built ... the kids are made ... ,
Next on the bucket list is the car ... finally and I'm ready for it !

My wife loves ferraris, but she always tell me that someone who wants to buy a Ferrari needs to have more money then he can count. millions & millions ...
Is this true ? I don't think so ... I always tell her that someone who wants to buy a Ferrari needs to have :
a passion (for Ferrari), a focus (to make his dream come true) and a little bit of intelligence (getting a loan is different as paying a loan) !

ok .. I have a plan set out now and it is the following :
I'll start saving up now from scratch because I don't want to involve my personal (family) or my business money in it and I want to pay it off at once without a loan.
The idea is setting aside around 25k $ a year and purchasing an F430 spider in about 4-5 years (before I turn 40). I hope to find a nice one around the 100k point then.

So this is my plan and to everyone who is in the same situation as me and hoping to own an F one day, just set up your plan and go for it.
I have done this previously with my other passion. Movies. So when building the house, it took me about 3 years to get my home cinema up and running. (+/- 80k $)

Anyway ... i'm happy to be on the forum and meeting people who are sharing the same pasion !
duckman_bw is offline  
Sponsored Links
Advertisement
 
post #2 of 32 Old 05-22-2014, 11:26 AM
Owner
Elite Member
 
tazandjan's Avatar
 
Join Date: Aug 2011
Location: Albuquerque, NM
Ferrari Life Posts: 11,852
DM- Welcome to Ferrari Life. There are many affordable Ferraris out there that cost no more than a new Toyota. So if you really want one, go for it. Service can be expensive, way more than for a new Toyota, so plan for that. Put aside $50 and buy an older V8, then trade up until you get your F430. The older V8s do not depreciate much, so you might as well drive your savings account.

Taz
Terry Phillips

Present: 575M 135171
Past: Dino 246 GT 02984, 365 GTB/4 14009, 308 GTS 25125

Every day I look around, and if nobody is shooting at me, it is a pretty good day.
tazandjan is online now  
post #3 of 32 Old 05-22-2014, 12:30 PM Thread Starter
 
Join Date: May 2014
Location: Belgium
Ferrari Life Posts: 34
Quote:
Originally Posted by tazandjan View Post
DM- Welcome to Ferrari Life. There are many affordable Ferraris out there that cost no more than a new Toyota. So if you really want one, go for it. Service can be expensive, way more than for a new Toyota, so plan for that. Put aside $50 and buy an older V8, then trade up until you get your F430. The older V8s do not depreciate much, so you might as well drive your savings account.
Hi Taz,
What do you mean with trading up ?
Buying 1 and selling it for more to buy another one ?
duckman_bw is offline  
 
post #4 of 32 Old 05-22-2014, 05:36 PM
Owner
Elite Member
 
wetpet's Avatar
 
Join Date: Jan 2006
Location: Chevy Chase, Md
Ferrari Life Posts: 9,567
if you have a house with an 80K theater in it, i would say a ferrari is fine.



100% free webcam site! | Awesome chicks and it is absolutely free! | Watch free live sex cam - easy as 1-2-3
wetpet is offline  
post #5 of 32 Old 05-22-2014, 08:32 PM
Owner
Elite Member
 
tazandjan's Avatar
 
Join Date: Aug 2011
Location: Albuquerque, NM
Ferrari Life Posts: 11,852
DM- Affirmative, that is the way I got my first Ferrari. Buy a car that will not depreciate much, save money and move up. Mine was Corvette, 911S, Dino 246, Daytona in the 70s. Yours could be 308, 360, F430. Why wait? Got the Dino when I was 27.

Taz
Terry Phillips

Present: 575M 135171
Past: Dino 246 GT 02984, 365 GTB/4 14009, 308 GTS 25125

Every day I look around, and if nobody is shooting at me, it is a pretty good day.
tazandjan is online now  
post #6 of 32 Old 05-22-2014, 09:48 PM Thread Starter
 
Join Date: May 2014
Location: Belgium
Ferrari Life Posts: 34
I know what you're saying Taz, but where I'm coming from (Belgium) that's a bit of a problem.
I don't know how it's in the USA, but in Belgium if you buy a car and you want to use it on the street, you have to pay some sort of 'to-put-in-traffic-fee'.
For Ferrari it's the max amount around 15000 us$.
So for every car that you own you have to do that, even if you swap you car after 1-2 months ...
It's just crazy !
duckman_bw is offline  
post #7 of 32 Old 05-26-2014, 12:48 AM
Owner
 
Bluebottle's Avatar
 
Join Date: Aug 2012
Location: Exeter, England
Ferrari Life Posts: 1,500
If you aren't after a 430 specifically, but just want a good Ferrari, then I would advise that you buy now, with a loan, a car that is still affordable, but has already passed the bottom of its depreciation curve (e.g. 308/328, 355, 550): the cost of running it / servicing the debt may well be outweighed (or at least offset) by the appreciation in the value of your asset. And in the meantime you can enjoy it.

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/
Bluebottle is offline  
post #8 of 32 Old 05-26-2014, 03:07 AM
Owner
Elite Member
 
Join Date: May 2010
Ferrari Life Posts: 3,317
Quote:
Originally Posted by Bluebottle View Post
...the cost of running it / servicing the debt may well be outweighed (or at least offset) by the appreciation in the value of your asset.
While I agree with your overall premise, it is unlikely that any of the modern F cars will conform to this model. Even the relatively low-cost 360, but particularly not the 355.

Of all the narcissists I know, I love me the most.
Killer58 is offline  
post #9 of 32 Old 05-26-2014, 03:25 AM
Owner
Elite Member
 
tazandjan's Avatar
 
Join Date: Aug 2011
Location: Albuquerque, NM
Ferrari Life Posts: 11,852
DM- That is a shame. It costs less than $62 per year to register my Ferrari or Jan's Mercedes here in New Mexico.

Taz
Terry Phillips

Present: 575M 135171
Past: Dino 246 GT 02984, 365 GTB/4 14009, 308 GTS 25125

Every day I look around, and if nobody is shooting at me, it is a pretty good day.
tazandjan is online now  
post #10 of 32 Old 05-26-2014, 10:25 AM
Owner
Elite Member
 
wetpet's Avatar
 
Join Date: Jan 2006
Location: Chevy Chase, Md
Ferrari Life Posts: 9,567
I always find it hypocritical that the "progressive" EU restricts the fun stuff only to the rich. You would think the philosophy would demand the opposite. oh well.

Quote:
Originally Posted by duckman_bw View Post
I know what you're saying Taz, but where I'm coming from (Belgium) that's a bit of a problem.
I don't know how it's in the USA, but in Belgium if you buy a car and you want to use it on the street, you have to pay some sort of 'to-put-in-traffic-fee'.
For Ferrari it's the max amount around 15000 us$.
So for every car that you own you have to do that, even if you swap you car after 1-2 months ...
It's just crazy !


100% free webcam site! | Awesome chicks and it is absolutely free! | Watch free live sex cam - easy as 1-2-3
wetpet is offline  
post #11 of 32 Old 05-26-2014, 04:00 PM
Owner
 
PRS Guitarist's Avatar
 
Join Date: Oct 2013
Location: Maryland
Ferrari Life Posts: 161
Life is short, whatever F car you decide on buy the one that has a good service record and is taken care of at a reputable garage. The only thing worse than spending a lot of money on a new toy is spending a lot of money on a new toy you can't play with because it needs work.
PRS Guitarist is offline  
post #12 of 32 Old 05-26-2014, 11:54 PM Thread Starter
 
Join Date: May 2014
Location: Belgium
Ferrari Life Posts: 34
If the car is considered as an oldtimer (over 25 years) you have to pay a very small fee to register. (I think around 100 us$)
Otherwise you have to pay the register fee based on the co2 emission. For most Ferraris it is the max amount unfortunately.
For me personally it's not to have any kind of Ferrari, but I really prefer a 360 spider or 430 spider. I just really love the looks of those.
duckman_bw is offline  
post #13 of 32 Old 05-28-2014, 02:31 AM
Owner
 
Bluebottle's Avatar
 
Join Date: Aug 2012
Location: Exeter, England
Ferrari Life Posts: 1,500
Quote:
Originally Posted by Killer58 View Post
While I agree with your overall premise, it is unlikely that any of the modern F cars will conform to this model. Even the relatively low-cost 360, but particularly not the 355.
David, I think this may have a bit to do with geography. Here in the UK, it looks as though prices for 355s are starting to move upwards, though I admit that it may be too soon to say whether that is going to be sustained, or how it will relate to costs of ownership, but I suspect that over the OP's 4 year time frame, the equation will come down in favour of buying now.

Prices for 550s definitely appear to be rising faster than ownership costs, and I think that will continue.

It is too soon to expect anything newer (360, 599) to have hit the bottom of the depreciation curve, let alone to expect any upward movement (other than in the case of rare, low volume cars / special editions of mainstream models, either of which are beyond the OP's budget).

Oh, for a reliable crystal ball!

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/
Bluebottle is offline  
post #14 of 32 Old 05-28-2014, 04:51 AM
Owner
 
360 Modena's Avatar
 
Join Date: Sep 2009
Location: USA
Ferrari Life Posts: 4,516
If you can't eat it, drink it, or drive it, you probably don't need it.

I say go for it and keep setting (and achieving) your goals.
Make sure to set aside some money for charitable donations.
Pay your prosperity forward.
360 Modena is offline  
post #15 of 32 Old 05-28-2014, 08:06 AM
Owner
Elite Member
 
tazandjan's Avatar
 
Join Date: Aug 2011
Location: Albuquerque, NM
Ferrari Life Posts: 11,852
How about kiss it?

Taz
Terry Phillips

Present: 575M 135171
Past: Dino 246 GT 02984, 365 GTB/4 14009, 308 GTS 25125

Every day I look around, and if nobody is shooting at me, it is a pretty good day.
tazandjan is online now  
post #16 of 32 Old 05-28-2014, 03:18 PM
Owner
 
360 Modena's Avatar
 
Join Date: Sep 2009
Location: USA
Ferrari Life Posts: 4,516
Let me rethink this Terry.
360 Modena is offline  
post #17 of 32 Old 05-29-2014, 06:15 AM
 
karakal's Avatar
 
Join Date: Feb 2012
Location: London
Ferrari Life Posts: 1,146
Quote:
My wife loves ferraris, but she always tell me that someone who wants to buy a Ferrari needs to have more money then he can count. millions & millions ...
Is this true ? I don't think so ... I always tell her that someone who wants to buy a Ferrari needs to have :
a passion (for Ferrari), a focus (to make his dream come true) and a little bit of intelligence (getting a loan is different as paying a loan) !
Really what it comes down to is justification.

A car might be let's say $100K.

Now, the question is whether you want to spend $100K on a car that you like or buy a car for 50% of that price and be content with it because it does everything that the more expensive car does and more importantly gets you to A and B.

So, it's really about want over need and not need over want. If you have the means to purchase one, then if you are satisfied with the product then there shouldn't be much stopping you.

My Flickr Account: http://www.flickr.com/photos/[email protected]/

Take pictures for fun
karakal is offline  
post #18 of 32 Old 06-26-2014, 03:49 AM Thread Starter
 
Join Date: May 2014
Location: Belgium
Ferrari Life Posts: 34
Quote:
Originally Posted by karakal View Post
Really what it comes down to is justification.

So, it's really about want over need and not need over want. If you have the means to purchase one, then if you are satisfied with the product then there shouldn't be much stopping you.
Owning an exotic is mostly all the time want over need. Do you need a car that goes so fast ? No, but it's fun to have one.

I played with the idea of instead of buying an F430 spider, saving up some money and buying a BMW 6 Convertible instead; I also love that car, but I won't do it because I will always have the feeling of going for my ultimate goal. Owning an F430 spider.
duckman_bw is offline  
post #19 of 32 Old 07-25-2014, 12:51 PM Thread Starter
 
Join Date: May 2014
Location: Belgium
Ferrari Life Posts: 34
Yes !
Today I hit my first mark after several months of saving.
10k from the 70k .
Let's continue !
duckman_bw is offline  
post #20 of 32 Old 07-28-2014, 08:44 AM
Owner
 
360 Modena's Avatar
 
Join Date: Sep 2009
Location: USA
Ferrari Life Posts: 4,516
Congrats Mr Duck
You are well on your way towards your goal
360 Modena is offline  
Reply

Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome
Copyright 2012 ONE Media, Inc.
FerrariLife is independently run with no affiliation with Ferrari SpA
Ferrari for Sale | Maserati for Sale