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Ferrari Guy wondering why Anybody would buy a Ferrari

Discussion in 'Lamborghini Discussion (not model specific)' started by rovingtravler, May 31, 2004.

  1. rovingtravler

    rovingtravler Karting

    Feb 2, 2004
    195
    Full Name:
    David
    This is straight from the F-chat site. Anybody have any stories like this about Lambos.

    http://cgi.ebay.com/ebaymotors/ws/e...2480051637&rd=1

    Sometimes I have to shock myself back to reality concerning the true cost of driving a car like a Ferrari. Granted, anyone who can afford to buy a 456 new may not be concerned about such trivial things as dollars per mile. This was just an example, however, of just how expensive these cars can be to drive (or not drive).

    Tires = $1200
    Oil changes: 9 x $200 = $1800
    Fuel: 1400 gallons @ $2/gal = $2800
    Depreciation = $139100 ($209k to 69.9k)

    Total $144900
    Mileage: 15924
    Cost per mile: 144900/15924 = $9.10/mile (w/o taking into account the Tubi or any servicing)

    Think about that for a minute. Trip to the movies, $91. To the corner for milk, $18. Weekend trip to B&B, $2700. Cruise with friends, $910.

    Why would anyone, ANYONE, buy a brand-new Ferrari? Most that purchase Ferraris are hard working, successful people. To succeed in business you ned to understand the value of your money, why would anyone willingly take a $140k hit on depreciation?
     
  2. ralfabco

    ralfabco F1 Rookie
    Lifetime Rossa

    Mar 1, 2002
    3,575
    Dixieland
    Full Name:
    Israel Beiteinu
    What about if the person financed or leased the car ? LOL


    Insurance ?
    Taxes ?
    Freight ? (if they purchased from another distant area)
    Unknown ?



    This is not limited to just new Ferrari's.
     
  3. KMS

    KMS Rookie
    BANNED

    Dec 22, 2003
    38
    Who knows how those persons are attempting to write it off.
     
  4. Tyson

    Tyson Formula Junior

    Jun 5, 2003
    477
    Idaho
    The Enzo and Stradale owners are happy.
     
  5. 6.0 se

    6.0 se Formula 3
    Lifetime Rossa

    Mar 26, 2004
    1,721
    Atlanta,ga. area
    Full Name:
    A.J.
    Most exotics have similar numbers.Alot of people dont care about the depreciation hit,and if your going to own these types of cars,exotics,the cost of maintenance is part of the deal.The NEW car experience to many is worth the initial depreciation hit.I keep saying to myself that I will never buy a NEW car again,but then something comes out that you just have to have,and.......
     
  6. Z0RR0

    Z0RR0 Formula Junior

    Apr 11, 2004
    276
    Montreal, Canada
    Full Name:
    Julien
    That's lame.
    A friend of mine bought a snowmobile. 12 grands. Crappy winter, coul only ride it 300 miles, still managed to require 500$ in repairs. Add approx 30$ of fuel for 60miles (full tank).
    Since he bought it months before a new model came out, the sled was only worth 8g at the end of winter.
    Do the math ... that's more than 15$/mile!!!
    What can you say ... expensive toys, but you'd have to be nuts to regret it!
     
  7. Alex_V

    Alex_V Karting
    BANNED

    Apr 8, 2004
    106
    Boulder, CO
    Full Name:
    Alex
    Its the joy of driving the car is why many owners buy one in the first place. i mean yea you have to be pretty "well situated financially" to buy one, but alot of people (like me) are inspired to work harder so that they can own one some day.
     
  8. 6.0 se

    6.0 se Formula 3
    Lifetime Rossa

    Mar 26, 2004
    1,721
    Atlanta,ga. area
    Full Name:
    A.J.
    This post got me to thinking about the point here.So I started doing some figuring on some cars I have owned.I bought a 94 viper new in 94,and sold it recently.It had 109,000k miles when I sold it.


    Tires 5x 1200=6000
    oil changes 30x30=900
    fuel 14400
    depreciation 29,000
    Bought it for 54,000,sold it for 25,000

    total expenses 50,300

    That equals 46 cents per mile.


    HEY,I DID GOOD!!!!!!
     
  9. Evolved

    Evolved Rookie

    Nov 5, 2003
    5
    Pittsburgh, PA
    Yeah you did real good. 109k miles in a viper. You should add a line for chiropractor bills.
     
  10. ryalex

    ryalex Formula Junior
    Consultant

    Aug 6, 2003
    960
    Las Vegas, NV
    Full Name:
    Ryan Alexander
    Cars aren't too bad compared to boats. My uncle had a 32' Bayliner - a 'middle class' boat by most standards, kitchen, 2 beds (incl little separate master bedroom), etc.

    He added up his receipts when he sold it and it was something like $300/hr to run the boat. Imagine what damage a really big boat or yacht would do!
     
  11. dpardyferrari

    dpardyferrari Karting

    Aug 7, 2002
    57
    Yarmouth Maine
    Full Name:
    Darrell Pardy
    The key is to but a Ferrari that is 2 or 3 models old, to get the best balance between low milage and depreciation. Once these cars have their initial depreciation they hold their value pretty well. As for service you need to maintain it if you want to fight depreciation. The gas, insurance and other costs are pretty much the same as a high end every day driver.

    In the end its up to the individual to justify their own vices. I wouldn't give up my Ferrari just because of a few extra expenses....
     
  12. dpardyferrari

    dpardyferrari Karting

    Aug 7, 2002
    57
    Yarmouth Maine
    Full Name:
    Darrell Pardy
    Sorry .. post should have read "buy a Ferrari" not "but a Ferrari"
     
  13. Ade

    Ade Rookie

    Jan 31, 2004
    34
    UK
    People who buy the 456 , 550 or 575M s new should really have done their research and therefore know what they are getting themselves into. This is completely different from buying a 512, 355 or 328, which you my very well experience appreciation on - if you have a v nice car and look after it. Even the 360 spiders are keeping their money well and when they start to come down it will be a quite gradual drop down from 110K pounds to around 70K pounds or so , surely.
    Ade
     
  14. scycle2020

    scycle2020 Formula Junior

    Jan 26, 2004
    433
    potomac
    your right aj... sometimes that irrational , emtional side takes over and you just have to have the nicer, newer car.. depreciation be damned!!!you hope you can make it up on your investments... you only live once and life is over iiin a flash
     

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