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Garage Queens

Discussion in '458 Italia/488/F8' started by Chizz, May 4, 2019.

  1. Pinab7

    Pinab7 Rookie

    Jun 4, 2018
    7
    Full Name:
    Joe Veranth
    I drive my nice cars only in the summer, and they get stored for 6 months, so that limits the miles. Bought a 458 last year after 12 years of an Alpina B7 as a summer driver. I will probably put a few thousand a year on the 458 since I still have the B7. I occasionally drive it to work, which is 33 miles each way. The most interesting surprise I have had with the 458 is that I HATE driving it on any interstate. I will almost always avoid the interstate, which seems like a waste of miles. These cars were made to accelerate, brake, and turn. They are a joy on a country road.
     
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  2. Need4Spd

    Need4Spd F1 Veteran
    Silver Subscribed

    Feb 24, 2007
    5,801
    Silicon Valley
    True! If it’s a mostly freeway drive, I take something else.


    Sent from my iPad using FerrariChat
     
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  3. Chizz

    Chizz Formula Junior
    Rossa Subscribed

    May 21, 2017
    257
    Atlanta
    From a mileage standpoint and resale.... I’m in trouble. All I can think about since I got it is getting home and driving it. How you can have one of these cars and just let it sit in the garage? That’s crazy!!! I’m not saving my car for the next guy! Heck, tomorrow is not promised to you and today is a gift! Better enjoy it! Or your wife’s next one will

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  4. butcher

    butcher Formula 3

    Oct 19, 2008
    2,277
    Castro Valley, CA
    Full Name:
    Albert
    As for Physcians' having garage queens due to not daily driving their exotics...In most physicians' cases, driving a Ferrari to work would probably not be advisable. Too many risk factors here that may cause others to make a judgment on you that can impact your practice of medicine. However, certain specialties and locations are probably more immune to this. For example: a plastic or cosmetic surgeon practicing in an affluent area is likely less affected by this than the family practitioner that is practicing in a less affluent small town setting.
     
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  5. Chizz

    Chizz Formula Junior
    Rossa Subscribed

    May 21, 2017
    257
    Atlanta
    Very true. Also, you have to be careful about the litigious nature of patients. They see the car and they assume you are making plenty of money in Which they should share. Also, my practice is referral driven and jealousy from piers is a factor
     
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  6. exoticcardreamer

    exoticcardreamer Formula Junior

    Dec 9, 2014
    950
    usa
    Full Name:
    doesitmatter
    Is it fair to say that the attitude is very different if a person pays $350K for a brand new car or slightly loved versus a person buying a 5 year old car that is fully depreciated?

    A big thing that people leave out when discussing how often or how many miles they drive their car.
     
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  7. WLFerrari

    WLFerrari Karting

    Mar 17, 2017
    85
    Northern California
    Full Name:
    Wayne
    Fully agree with your observation. I think most of those folks who are buying sub $200k are the ones making the biggest deal over value and miles - hence making a rash reference to garage queen car owners versus those who are paying over that whether new or a used limited edition car generally view their ownership much differently. In short, I would drive a second hand car that I paid $175k a lot more than I am driving my new $350k 488gts.
     
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  8. Chizz

    Chizz Formula Junior
    Rossa Subscribed

    May 21, 2017
    257
    Atlanta
    Could not disagree with you more. Obviously you make/have a lot more money than I or most do because if you spend 150k+++ for a car it is far from secondary and becomes a big investment for most. I work pretty hard and make a nice living and therefore I value every dollar spent. And to spend 175+ for a car means I have to earn more than twice that pretax in my tax bracket. So while I understand that if you bought new YOU are eating the depreciation but don’t assume that just because someone paid far less doesn’t mean the value to them is less than yours because all of these cars depreciate with every mile and even multiple owners. If I spent 350k. You best believe I’m driving it.
     
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  9. exoticcardreamer

    exoticcardreamer Formula Junior

    Dec 9, 2014
    950
    usa
    Full Name:
    doesitmatter
    I think you may have misunderstood him.

    $350K brand new car. - Drive it 10,000 miles in one year and it you will be lucky to get $220K in a trade.
    $150K - 8 year old car with 20,000 miles on the clock - drive it 10,000 miles in one year and it is worth $130K.

    A lot different driving the $150K fully depreciated car for 10,000 miles then driving a $350K brand new car for 10,000 miles.

    You can go all through car forums and the people who compare their high mileage driving have the same thing in common (bought a fully depreciated older car with substantial miles on the clock already). The other type are the ones who just bought their first car and went with a new or lightly used car. They learn their lesson really quickly when they go to sell their car of what the implications are of driving substantial non fun miles.
     
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  10. saraojo

    saraojo Formula 3

    Mar 9, 2015
    1,274
    Northeast
    I think it is all relative to our personal values and wealth. Exotic car depreciation isnt as significant as the running costs of a megayacht or the depreciation of a new yacht yet it doesn't stop the yacht owners from enjoying them as exotic car owners "enjoy" their cars by racking up mile whether they bought it new for $380k or used for $189k with 15,ooo miles.
     
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  11. WLFerrari

    WLFerrari Karting

    Mar 17, 2017
    85
    Northern California
    Full Name:
    Wayne
    I believe you are the original poster who referenced that anyone not driving their cars are treating their cars as garage queens. As you should know, the depreciation cost is far steeper for a new car versus a used car. And as a general matter, you can drive a used car far more and have much lower depreciation costs. I have many cars and they each have low miles not because I don’t drive them, but I drive each car for it’s purpose. The Ferrari is for pleasure driving so it has low miles. I drive a 911 turbo as my daily driver so it has much more mileage. Everyone has their reasons for low mileage Ferraris so don’t come on the forum being so judgmental. And if not for people like me who may sell their Ferrari sometime down the road, how would people like you buy opportunistically a low mileage Ferrari at a good price? Since you brought up your net worth, it doesn’t appear you have $350k as you came on this forum saying you were going to buy a 458 and drive it a lot but ended up buying a lower priced California. And I hope you drive it..and when you sell, the lower sales price will reflect the higher mileage. And if you don’t, someone will criticize you for not driving it and treating it like a garage queen.
     
  12. Chizz

    Chizz Formula Junior
    Rossa Subscribed

    May 21, 2017
    257
    Atlanta
    Lol!!! Wow!!! I don’t think I have ever read a more condescending post. Why thank you and people like you for your benevolence....lol! I can afford just about whatever I want. (Short of a Bugatti) I chose the California T because I liked it and I had just also purchased a 911 Turbo 6 months ago. So I will get a 488 in a couple of years. In the meantime you enjoy your stable of low mileage cars and I will enjoy what I have. We are all blessed more than we deserve. Now excuse me while I go and lick my wounds! Ouch!
     
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  13. plastique999

    plastique999 F1 Veteran
    Silver Subscribed Owner

    Nov 9, 2008
    5,344
    SoCal
    Full Name:
    Edward
    Yes and yes...
    Too many judgmental opinions


    Sent from my 16M
     
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  14. saraojo

    saraojo Formula 3

    Mar 9, 2015
    1,274
    Northeast
    Most of society are very judgemental towards cars although they are exciting experiences for most of the owners. Most patients wouldn't think much about their doctor spending $5oo,ooo on a wedding. But if they bought a $300k Lamborghini that will probably depreciate $80k over 3 years then it's frowned upon.
     
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  15. j09333

    j09333 Formula Junior
    Silver Subscribed

    May 7, 2004
    674
    Buy new then drive to death and see who wins. I know a lot of guys who buys used saying they saved alot then nanny cars for the same reason the guy before did only to think they will not lose at all. It is not the ownership that matters but the drive itself.
     
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  16. Shadowfax

    Shadowfax F1 Rookie

    Jun 10, 2016
    3,064
    Australia
    I'm the exact opposite. If I'm paying a premium then I want to be using the car, not parking it up for the next guy who doesn't want to pay anyway. I find it's the guys who buy used that are the more mileage conscious. You have the set trying to buy a virgin for nothing and when they actually find one it pains them to drive it - so it gets parked up. Then you have the guy who will buy used with more miles as it's cheap who then won't drive it in fear of pushing the odo over the next threshold to where nobody will buy it unless it's for peanuts. There is no escaping the depreciation so just use the car and stop looking at it because there is no escape to the loss. It all boils down to what did you buy the car for in the first place? - looking at or driving because the depreciation pain is much the same.
     
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  17. italiafan

    italiafan F1 World Champ

    Jul 19, 2006
    10,109
    USA
    Full Name:
    Stickbones Swagglesmith
    Our society is filled with judgmental people, but they are lazy judgmental people. They are quick with their assumptions and thus prone to poorly formed opinions; runs rampant across all sectors. With “multitasking” sound-bite information social-justice-warrior-jugglers this will only worsen.
    I used to take the time to explain why a visible sign of success, such as a car, shouldn’t draw more ire than the stealth-wealth of unknown exotic vacations (I know people who routinely spend $100K on a vacation, great memories, 100% depreciation every time); but now I just shrug my shoulders and in effect tell people to screw off.
    I once had a patient’s wife try to give me grief about a Maserati Granturismo I had parked at the office.
    It went something like this:
    Her: How can you afford that?
    Me: Because I’m wealthy.
    Her: So, our copays are paying for that.
    Me: Nope, they wouldn’t cover the gas cost.
    Her: Why do you drive that to the office so we can see it?
    Me: Because if I drove any of my Ferrari’s to the office you would be apoplectic.
    :)
     
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  18. Shadowfax

    Shadowfax F1 Rookie

    Jun 10, 2016
    3,064
    Australia
    I find in business the less people know about what you own the better off you and your business will be. I've found if someone hears you own a Ferrari its never a huge deal until such time they actually see it and get a visual handle on how much it must have cost. Then they can't shut up about it.
     
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  19. Coincid

    Coincid Formula 3

    Dec 9, 2014
    1,966
    Canada
    If depreciation is an obsession to the point that it impedes upon the enjoyment of owning and driving an exotic, there exists 2 options: do not buy one or alternatively, purchase a 6 year old car and keep it for many years. Another tact- buy RACE stock and use it's proceedes towards mitigating the depreciation on ones car.
     
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  20. Jasflora

    Jasflora Karting

    Sep 30, 2018
    60
    Leeds United Kingdom
    Full Name:
    Jas flora
    Fantastic, I could imagine the smiling sore cheeks. Agree about the rain and having to wash it ...
     
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  21. liquid360

    liquid360 Karting

    Sep 25, 2018
    54
    I just took delivery of a 488GTB. I’ve never owned anything remotely like this car. It cost almost twice what my house cost. I completely understand why some decide not to drive it often and I understand the other perspective. I land somewhere closer to drive it than preserve it. It’s obviously a personal choice we all face.


    Sent from my iPhone using Tapatalk Pro
     
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  22. Newjoint

    Newjoint Formula Junior

    Jan 17, 2016
    252
    In the end everyone balances enjoyment of ownership, driving, and depreciation in having a FERRARI or any exotic and do what they are comfortable with. Case closed.


    Sent from my iPhone using FerrariChat
     
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  23. Chizz

    Chizz Formula Junior
    Rossa Subscribed

    May 21, 2017
    257
    Atlanta
    AMEN!!!!!
     
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  24. Chizz

    Chizz Formula Junior
    Rossa Subscribed

    May 21, 2017
    257
    Atlanta
    This!!!!!
     
  25. Chizz

    Chizz Formula Junior
    Rossa Subscribed

    May 21, 2017
    257
    Atlanta
    My wife and I loved this post. We are both doctors. She said that she would tell the patient: why don’t you go to school for all those years?
     
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