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Brian- There are some affordable Maranellos out there now, but they do cost $1-2K on average per year to maintain. Hang in there.
depends on the definition of "affordable"...I see decent (i.e. not ratty, story cars, off color, etc) 550s starting around $65-70k.

that said, for that amount there's a lot of Fcar variety...nice 355, decent 550 or 360, TR (maybe a 512TR)...a flavor for every taste.

and for some perspective, a new M3 is that much. maybe more if you get the convertible with all the gizmos.

btw, LOL at the Corvette, Porsche, Porsche, wife comment :D
 

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Brian- There are some affordable Maranellos out there now, but they do cost $1-2K on average per year to maintain. Hang in there.
Absolutely, and I will get it. Truth is I already drove it to South Beach for a night (a clients car) and it's definitely the model for me. Priorities first though. Moving back to Florida will help erase the need for my children's college tuition provided they stay on course with their outstanding gpa's. The two I have in school now are both in the gifted and talented program, my 8 year old has read more books than most adults she just finished the Harry potter series and has since moved onto Catcher in the Rye. A little grown up for her but she loves literature. Heck she may just buy me my first F car making all my efforts null and void.
 

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Absolutely, and I will get it. +Heck she may just buy me my first F car making all my efforts null and void.
Not impossible and in my opinion more worth while having than buying it yourself:thumbsup:
Imagine telling your friends in an off handed manner.......yep that is my new car bought for me by my daughter....you will be the envy of the state let alone your circle of friends.:crowngrin:
 

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Lots of great posts here but its really simple. At the end of the day it's about cash flow. Eric mentioned living paycheck to paycheck but that really means a variable amount of cash flow. To be able to buy ANYTHING that is expensive and will most likely require some level of financing means that you need a steady stream of cash to be able to finance.

I immigrated to America from Ukraine. Coming from a cash-based society into a debt-based one. I've learned that in American anything can be bought with the right debt management. This means, knowing what you spend every $1 on and what interest rates you're paying to spend other peoples $. Managing your cash to maximize your returns and minimize your payments is what will open the doors for you.
 

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I am looking forward to buy a 458, I've found some on the web around 150k - 180k euros, all under 20k kilometers.

I am not sure if I can really afford a car like this, this is my short story:
I run my own business since 2013, I get around 300k/400k per year, I am 23 and I will still live with my parents for 2/3 years. Do you think that it's enough to get a car like that?
 

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Don't chase the money. Work at something you're Passionate about, get really expert at it, live within your means, buy a home, buy a rental property, make certain you save for retirement, give to charity THEN buy the Ferrari. That was my roadmap. Happily retired, enjoying the fruits of my labour now.
 

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I like most here developed the Ferrari passion early in life, when my adolescence left me I realized a Ferrari was not a goal, it might come, later.


my strategy(as a lazy man) has to develop a business that does not require me to work in, now that I'm successfully not working, and my money is the, Ferrari came, with a sibling on the way !!
 

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Don't chase the money. Work at something you're Passionate about, get really expert at it, live within your means, buy a home, buy a rental property, make certain you save for retirement, give to charity THEN buy the Ferrari. That was my roadmap. Happily retired, enjoying the fruits of my labour now.
Don't fully agree. I think there is balance to everything. And you might keel over at 40, never getting to your retirement. And BTW, buying a rental propery certainly is not for everyone (god, the hassle!).

So, make a decent plan. Set your priorities. Realise that you must enjoy your life both at 20, 40, 60 and 80, so you need money now and you need money in future. Split your income to achieve all your goals (house, retirement, holidays, going out, toys). And develop a complete allergy to borrowing!! Always pay off your CC completely, each month!

If you can still afford a Ferrari then (without going to the bank to borrow) then by all means go for it. But in all likelihood you will find that going for a 458 when you're 23 and having a start-up business is not very intelligent.


Onno



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I'm with you Onno. There are a number of things on my Never Again list. Being a landlord is at the top.
 

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I'm with you Onno. There are a number of things on my Never Again list. Being a landlord is at the top.
Depends what sort of property. Buy something that rent consistently (i.e. is in constant demand) and pays enough for someone to manage it for you. Alternatively, buy something that you can let to a tenant of good covenant on a long lease with indexed rent reviews on fully repairing and insuring terms.
 

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I dont know about the rest of you but oftain in my life once i could afford something i felt it was a waste of money. After looking for my first sports car a ferrari for about 5 years my wife finally said "just go get the dam thing"i did that about 10 years ago and never regretted it. I say to the OP work hard and based on what you have given us in 10 years just buy the dam thing. If you stiff want it. Nice thing about ferraris is many of us look after them. The cars ten years fromnow that are good will be as good and maybe better. I guess what i am saying is they will still be available. Many other brands cant say that in 35 years. Good luck
 

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can i just add to this thread. I Recently bought my first Ferrari and as previously discussed maybe wouldn't fit into the average owner type. A Ferrari is something i had dreamed of owning since I can remember indeed I'm told Ferrari was the first word I ever said as a baby. I started saving as a teenager working night and weekends slowly putting money away and working my way up in the world of cars. Finally 4 weeks ago at the age of 36 I managed to buy my dream car. At school i always wanted a Testarossa however given the increases in prices recently these are way out of my mean's. I bought myself a 360 Spider F1 and still have to pinch myself every time I go to get in the thing. I bought a 2005 car with only 14,200 miles on from new as such the car is as good as mint and I intend to keep it that way.

By means of how did I do that all i can say is my wife and I have worked hard over the years and both as an Engineering Manager and H.R. consultant and we have made a couple of sacrifices along the way eg instead of moving to a bigger house or driving a 10K car to work every day I have a daily driver costing only a few hundred pounds and the wife has a Fiat 500. All of which adds up to allow us to live our dreams.
 

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Do you dream of buying that "masterpiece" or just want to drive it? If you want to buy, i'd recommend not to give up and keep going. But if you want just drive Ferrari you can rent it for a while. Once i rented Ferrari Spider at Cargets when i was in Dubai. And i was enjoying it for the whole day.
 

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Although driving a rented Ferrari is a great and cheap way to experience part of what it can offer, it has little in common with owning one.

One should not underestimate how long it takes to properly drive a Ferrari (unless you have driven many other performance cars before). There is a lot of satisfaction in learning to tame the beast and seeing the progression on your driving ability. To me, owning a Ferrari has so many aspects that I enjoy, but the joy these cars give in the top 5% of their performance ability, which most owners never experience, is the most special. Every time I take my 458 to the track, I surprise myself with how much I've learnt and how satisfying it is to drive a car like that in that manner.

But - small steps. You can first look at them, dream about them, then rent one, maybe finally drive one. If you then still want to take it further there's always that option. That is the beauty of these cars, they offer so many things on so many levels. If you just want to sit in the garage and look at it, that is perfectly fine by me!



Onno



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Don't borrow to buy - unless you have so much that you don't need the loan. In 1990 a GTC lost almost 3/4 of its "value". Imagine yourself borrowing $200K for a car you might find hard to sell for $70K.
 

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and added to the spiel just mentioned above. Try to get your hands on a personal finance book called "Rich Dad, Poor Dad" by Robert Kiyosaki and Sharon Lechter.

I found it to be enormously helpful and insightful
 

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How have I missed this thread?
I'm a relative newcomer here. I joined in October-ish last year, and you state many things that I relate to.
I think that 'many' of the people you describe (20 yrs old, buying a $180k F-car) are either entrepreneurs, or are the offspring of such. I would point out that with most entrepreneurial enterprise there's an element of being in the right place at the right time. But there is ALWAYS an element of RISK. Fortune favors the bold. Me, personally, I don't like that sort of risk. Yes, I've run my own business, but always conservative in my growth and expenditures. I don't necessarily envy those who have been successful that way, because I know my stomach would never tolerate that level of risk.
So I don't fit that mold anymore than you do.

The next step then are the professionals who work in the "high-dollar" industries: medical, law, etc etc. That's all about good planning and hard work. At 40-plus (you and me both, brother) it may be too late to start, as most of these guys are planning that way by the time they are 20.
So I don't fit that mold either.

The next step might be the guys like me who work hard at a technical skill or trade. We've reached a certain level of success in the field we labor in, but find ourselves approaching a perceived "ceiling" to the amount of income we can reasonably expect from said industry / market. I moved into construction sales many years ago, because it was clear that this was the place I could make the most in the industry I'd chosen.

So now I've got a good, steady income, but I've got a mortgage, 4 kids with college coming-up. etc etc. How the hell will I ever find the means to own the car I love, while I'm still young enough to enjoy it?

I'm doing what Mario suggested above; I've cut-out some of the useless crap in my life.
$6 latte (plus tip!) twice a day.... I was keeping my local starbucks fat. Now I drink the office coffee for free. do the math, that's like $8k/year! :yikes:
Fancy-restaurants that I'd take my wife to twice/week, even though she hates 'em.... done. She prefers I cook for her, and it's much cheaper. (I'm also losing weight! :yikes: )
I've been dickin' around with Fiat Spiders for years. this would be like your horses. Sure, they're fun. But I'm spending EASILY $1000/mo on the 'projects'. this is not an investment (try and find a modified Fiat Spider that sells for more than $3500, I dare you). I'm selling 'em. done.

I made an agreement with my wife that when all of our debt is gone (except the mortgage which is at 3.5%), I'm going to spend up-to HALF of our savings to buy my first Ferrari. CASH, mind you. not financed. And not dipping into the 401k or other funds.

This was my compromise, and right now I'm on track to purchase this calendar year.

Let me tell you about the LAST level, as far as I'm concerned: There's a local guy who has a new $300k F-car. Very heavily financed, and he owes everybody in town money. I have recently hired a couple of his ex-employees who quit working for him because he couldn't make payroll last month (Christmas-time, mind you) but apparently made his car payment. Last year he opened the doors on his new business under a new name, because the last one had so much bad debt, he sought relief from my taxes and contractor's insurance premiums. But somehow he kept the car.

so FWIW from a guy who is still on the road to ownership: buy the right car at the right time. I can hardly bear the idea of how miserable I would be if I bought the car at the expense of my scruples, or my family's lifestyle.
Ha! Kinda fun reading my own words from so long ago.
Here's an update to my garage, this spring:



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