Average Income of Ferrari Owners in USA?

Don't over think it. If you love a great ride get a Ferrari. You have plenty of income for it. I have a 911, Panamera, a couple of American rides and recently bought a Ferrari FF. The Ferrari is a totally different experience. As my German friend says, it is having an Italian diva. As much as I love my Porsches the Ferrari is something special, hard to describe. If you are worried about the expensive maintenance (it is) then the lease or a maintenance plan is great. I've had rodents eating my wiring and those trips to Ferrari Service are painful to the pocket book. But, their service is great.

 

All previous comments referenced to the California ring true. Your price point pretty much places you in that market. Don’t expect “Garage Queens” to pop-up for that price point. Luckily, where most cars are serviced through an authorized dealer, you’ll have a good paper trail on services performed. If huge gaps prevail, ask a lot of questions. As for warranties, haven’t seen too much out there outside of remaining warranties. The “Preferred Program” of techs going over the car(s) prior to being put on the used car is a fairly good indication of what you are buying into. I have heard of dealers slapping 50/50 power train warranties for 90 days as an enticement. Not being cliche or giving you a hard sell pitch but it is an excellent time to buy with Winter all around except in So. FL and So. CA. Dealers want to move sheet metal in this part of low season to pay the bills. That said, with average wait times for new builds up to a year some pent-up demand exists. Usually once the snow’s gone and a mild Springish day with temps over 50F, the mad dash is on. Have watched the Ferrari Market since the late ‘80’s so most of has been said/implied has followed suit. Spend some time on the model specific Forums to get a better idea how the California’s “click”. An educated customer becomes a better informed buyer. Good luck with your quest. You’re in store for an incredible automotive experience.

 

I’ll repeat what my accountant told me when asked if I could afford a 458 “probably not but you should buy it anyway”. Did so with no regrets.

 

Still have a couple of MB, SL AMG and an ML, both fully loaded. Mercedes wanted me to change them, both like new and fully loaded.
Mercedes offered me 20% of new price. My respond was I did not need to change the cars, only for fun, and this was not funny.

In stead of I bought a Ferrari and kept the MB’s, that’s fun nothing compares to this driving experience, smiling up to both ears when driving.

On top of this it looses only a little bit, when changing to the next Ferrari.

sorry for you you did not get this experience.

 

I finally harassed my wife into letting me scratch Ferrari ownership off of my bucket list a few years ago. I bought a 612 Scaglietti at the age of 43. I owned it for 2.5 years and loved every minute. It was an itch that needed to be scratched, but it was not an inexpensive scratch to be sure.

I paid $117K for a very nice Platino-winning 2007 612 HGTC with just under 12K miles. Between down payment and 31 monthly payments, I spent about $45K. Add in $10K to rebuild the steering rack, routine maintenance, tires, and a few left over sticky bits that hadn’t already been refinished, and I estimate that I spent around $60K over my 31 months of ownership.


I sold the car with 19K miles for $100K. I suppose this is more a cautionary tale about financing cars than anything else, but just wanted to share my personal cost of ownership.

 

I purchased a 2013 Cali in August 2019.The CPO is about $4k/yr. which covers all major failures. So far just a routine out of pocket $1800 annual oil and fluid change. The service techs say the car is very reliable. If you are new to Ferrari look for low miles.

 

Absolutely spot on! This other craze of a 15 year mortgage is nuts as well- just take out a 30 year and double up payments if need be; if you get in a financial bind, just make min payment. Why paint yourself into a financial corner and risk the Ferrari, ha ha

 

Here's a rule of thumb I've come up with after two Ferraris, one CPO, the other not. Have 30% of the purchase price in reserve for service in the first year or two. Even with the extended warranty (which I had for the F430) there are expensive parts that are not covered (e.g. clutch).

 

Same with myself. Like the OP I'm 36 and live in Chicago. Bought my first Ferrari at 32 (599). Owned two others since. If you can pull the trigger do it, IMHO. At the end of the day it is a car that if need be can be sold.. plenty of Ferrari buyers out there. Now, Rolls Royce market on the other hand...

 

Cali was actually my favorite one (also had the aforementioned 599 and 458). Backseats to fit women to go to the harbor, could take to the grocery store without much notice, comfortable, daily driver (I had a Ghibli at the time as well, almost never drove that).. great car. Portofino even better.

 

Always said I can afford a used Ferrari but not a new Honda Accord. FF and 430 prob aren't going anywhere in value. Wish I bought a Lusso a year ago though..market seems really strong on those.

 

Really? Lussos are in the low 2s no?

 

On the contrary, that era was fantastic for homeowners. Although interest rates were high, so were wage rises, which made it easy to cope with the high rates. I don't know what it was like in the US, but over here we were getting annual wage rises of 15-20% without any promotion.

Inflation is the borrower's best friend, as you're repaying the loan in currency that's constantly losing value. As someone else said I hate this zero interest rate environment, as although I dislike borrowing on principle it's completely irrational not to when you can easily make back several times the interest you're paying.

But zero interest rates are financial poison. They are the main reason for the huge and unsustainable asset price inflation as people desperately seek a return on their capital. They help explain the crazy stock prices for so many companies (Tesla being a prime example) and they (with a large helping hand from what I understand Americans call `stimulus checks') are one of the main drivers of the huge price increases in Bitcoin and the other cryptos.

Bring back inflation!

 

You missed my point. I would rather pay in full, and then just make voluntary contributions to my portfolio at my discretion, than to be married to a payment (commitment). Plus, don't forget that we are all money drunk now with the market returns lately. That's gonna change soon. (At least from my perspective)

 

plus the 8% WA sales tax and insurance right?

 

Just have to accept the payments and enjoy your ride. If you don’t feel good about it and constantly worried about each payment then it’s not for you. It’s what your priorities are.

 

I’ve never lost money on any Ferrari I owned. But I’ve always bought them after they are 15 years old. The first three I drove for basically free; I expect to do the same with the 360.

I could never stomach some random corvette that loses $10K a year.