How did you fund your first/most recent Ferrari purchase? | FerrariChat

How did you fund your first/most recent Ferrari purchase?

Discussion in 'Ferrari Discussion (not model specific)' started by 96redLT4, Feb 22, 2020.

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  1. 96redLT4

    96redLT4 Formula Junior

    Feb 20, 2009
    507
    California
    Full Name:
    Jim
    Thought this might be a fun topic. Slow savings over time? Sale of a property? Unexpected work bonus? Inheritance from dear old uncle Charlie? Did you buy over time or lease? I personally feel like I should buy a car like this for cash so if I drop dead tomorrow my wife and kids won't inherit a $3K/mth car payment and a shiny red car they can't get rid of. I figure maybe I should sell my stake in GoPro, Newell Rubbermaid and every other crummy investment I have made over the yrs and turn them into something good! Of course with the price of a late model F car, I may have to sell a winner or two as well.
     
  2. tomc

    tomc Two Time F1 World Champ

    Apr 13, 2014
    25,865
    DFW, Texas
    Full Name:
    Tom C
    Put aside a little fun money every month while I studied up. Finally, my wife saw an F-car she really liked; told me to get off my a$$ and buy it! So, we did. Cash. Coming up on 4 years. If your finances are in order, go for it...T
     
    omdehoek likes this.
  3. EastMemphis

    EastMemphis Formula 3
    Owner Silver Subscribed

    May 25, 2019
    1,718
    Memphis, TN
    Full Name:
    John
  4. Shark01

    Shark01 F1 Veteran

    Jun 25, 2005
    5,687
    I’m the classic slow saver type, and I want to pay cash for cars, toy or not. Took me 9 years to buy my Lamborghini Diablo Roadster, and just last week finished a 6 year cycle and bought a 2005 Ford GT. On to the next fund now.....
     
    SingleClutch likes this.
  5. Canuck550

    Canuck550 Formula Junior

    Sep 8, 2015
    462
    Incognito
    Full Name:
    RJA
    Sold a couple Pateks to fund my purchase
    Collecting for 30 plus years, whether a Patek or a Timex is on my wrist its all the same
    I chose to live through many life experiences
    :)
     
    Wikdstrate and Red 27 like this.
  6. Zanny1

    Zanny1 Formula Junior
    Silver Subscribed

    Dec 19, 2003
    974
    Arizona
    Full Name:
    Mike
    Rebuilt a 1958 corvette barn find in 1984. Sold it and bought a beater 308GT4 Dino in 1985. Fixed that up over a period of 2 years and bought a beater 1981 308 GTBi. A real POS but the money was right. Fixed that one and sold it in 1989. Then a 330 GT, 365 GTC/4 and 250 GTE. Didn't own a really nice car until buying my '99 Modena in 2015. I still have the Modena. And I don't fix up Ferraris any more.
     
    colorfull and BT like this.
  7. 3POINT8

    3POINT8 F1 Rookie
    Rossa Subscribed

    Jan 23, 2014
    4,397
    put a little away every month
     
    unreelviper likes this.
  8. REMIX

    REMIX Two Time F1 World Champ

    I love it and it's so simple, too. Nothing fancy, your post is really inspiring.
     
    EastMemphis likes this.
  9. Parnelli

    Parnelli Formula Junior
    Silver Subscribed

    Aug 30, 2013
    995
    Milwaukee, WI
    Full Name:
    Greg P
    Just like the old Smith Barney commercials used to say:

    “ I made the money the old-fashioned way… I earned it“ :)
     
  10. vrsurgeon

    vrsurgeon F1 World Champ
    Silver Subscribed

    Dec 13, 2009
    15,872
    Charleston, SC
    Full Name:
    Curt
    SingleClutch likes this.
  11. Shark01

    Shark01 F1 Veteran

    Jun 25, 2005
    5,687
    LOL.....you wish
     
  12. 19633500GT

    19633500GT F1 World Champ
    Rossa Subscribed

    Nov 9, 2010
    11,926
    Blueberry
    Full Name:
    Muffin-Tops
    I offered the guy $10K because that’s all I had

    my wife was assured he wouldn’t accept

    he did

    so, as they say....

    it was funded with my commission from selling a 330 GTC and selling my Fiat Dino

    Image Unavailable, Please Login
     
  13. Innovativethinker

    Innovativethinker F1 Veteran
    Silver Subscribed

    Aug 8, 2009
    8,601
    So Cal
    Full Name:
    Mark Smith
  14. Raydog9379

    Raydog9379 Karting

    Jan 10, 2018
    131
    Full Name:
    Ray
    I save $200/wk into mutual funds. I started 2 years ago right after visiting friends (former Au Pair's family) that live on a farm about a mile from the factory. They knew some people, so I got to drive a brand new CaliT HS. Then we took up her family's plane and flew over the Fiorano track and factory, was gorgeous. I was hooked.

    Any event, as my youngest was no longer needing daycare a few months later...I started socking it away automatically each week. If the market could stop taking a dump over the Coronavirus, I'd be able to buy it sooner. I figure I've got about 7-8 more years and I'll be driving mine. Just need to figure out whether I buy a couple year old one and pay it off or spec a new one and take the rest out in a loan.
     

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