News

Just started saving for 1st Ferrari. How did you guys stay patient and motivated?

Discussion in 'Ferrari Discussion (not model specific)' started by Nissanzx1, Dec 1, 2019.

  1. Shark01

    Shark01 F1 Rookie

    Jun 25, 2005
    3,537
  2. Thecadster

    Thecadster Formula 3
    Rossa Subscribed

    Apr 27, 2017
    2,265
    Awesome! How you like it so far?
     
  3. Shark01

    Shark01 F1 Rookie

    Jun 25, 2005
    3,537
    I've only driven it 8 miles......LOL

    I just got the temporary tag today, plan on taking it out tomorrow.
     
    Thecadster likes this.
  4. Thecadster

    Thecadster Formula 3
    Rossa Subscribed

    Apr 27, 2017
    2,265
    Congrats! I’m super jealous. Care to share some more details about the car? I will live vicariously through you.
     
  5. Shark01

    Shark01 F1 Rookie

    Jun 25, 2005
    3,537
    I’ll put a full review in the American Muscle thread next week so I don’t clutter up Grant’s thread, it’s super important we encourage his effort.
     
    Nissanzx1 and Thecadster like this.
  6. Nissanzx1

    Nissanzx1 Rookie

    Apr 7, 2019
    22
    Kansas
    Full Name:
    Grant Holthaus
    Well Ladies and Gents, I’m afraid I have some news.

    I broke down and bought a car... a 06 Cayman S. I have had a smile on my face for the last week. Just having a ball... helps me forget about all the crazy things going on in the world at the moment...

    I am still saving for a Ferrari, but now occasionally I get to drive part of my savings account. Please don’t be disappointed in me guys, the dream is still alive in my heart. I will keep pushing!

    Grant
    Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login
     
    Carnut, LightGuy, steved033 and 3 others like this.
  7. Extreme1

    Extreme1 Karting

    Jun 27, 2017
    197
    Santa Clarita, CA
    I had a 2014 Boxster S that I doubled up on the payments, and used that for a trade in/ down payment for my F430.
    You'll have a blast in your Cayman!


    Sent from my iPad using FerrariChat.com mobile app
     
  8. IloveGT

    IloveGT Formula Junior

    Oct 17, 2015
    922
    Great first step! But gotta say this. Save up the money for more important things in life, given the rapidly changing economics in next few years at least.
     
  9. steved033

    steved033 F1 Rookie
    Silver Subscribed Owner

    Apr 12, 2017
    2,752
    Atlanta, GA
    Full Name:
    Steve D.
    #109 steved033, Mar 21, 2020
    Last edited by a moderator: Apr 14, 2020
    great second post, please subscribe so you can contribute lots more financial knowledge.

    Grant, if you were, keep feeding it, it'll come back. If you were just keeping cash, keep feeding it.

    sjd
     
  10. Ianjoub

    Ianjoub Formula Junior

    Dec 22, 2019
    498
    Homosassa, FL USA
    Full Name:
    Ian Joubert
    I couldn't stop buying rentals and enjoy money until this year. I finally stopped and bought my 458 spider. My wife and I have 70 rentals, our home, and no mortgages :D.
     
  11. 14RE458

    14RE458 Rookie

    Dec 24, 2019
    4
    Great story!


    Sent from my iPhone using FerrariChat.com mobile app
     
  12. LightGuy

    LightGuy Three Time F1 World Champ
    Silver Subscribed

    Oct 4, 2004
    31,276
    Texas
    Full Name:
    David
    #112 LightGuy, Mar 21, 2020
    Last edited: Mar 21, 2020
    Nothing wrong with buying a fully or close-to-fully depreciated asset. Its like parking money. In a perfect world the car would be appreciating but in toadys financila climate that would be a crap shoot. 997TT stick ?

    I'm just going to assume an 06 Cayman is close to that.

    Continue to save.
    The "good news" is that most if not all Ferraris will depreciate significantly in the current Corona virus economy.
    How long that lasts is the big question.

    But pray it recovers and the prices go up. At least you would have a job to pay for that increase.

    Again if I didn't mention it the best investment one can make in your entire life is in buying or starting a business.
    If you dont know how then buy a franchise. Research the crap out of it first.
     
    psych0hans likes this.
  13. IloveGT

    IloveGT Formula Junior

    Oct 17, 2015
    922
    very true. As a physician who deals with life and death any minute, I cannot agree more.
     
  14. IloveGT

    IloveGT Formula Junior

    Oct 17, 2015
    922
    Took my words. 2 hours a day watching YouTube and online research while you are trying to save up 50k? Can't do that.
     
  15. IloveGT

    IloveGT Formula Junior

    Oct 17, 2015
    922
    Today is your answer.
     
  16. IloveGT

    IloveGT Formula Junior

    Oct 17, 2015
    922
    That's because you are already at where you are... You know what I mean? Now some of us, I am sure, will rather take pay cut for time off.
     
  17. IloveGT

    IloveGT Formula Junior

    Oct 17, 2015
    922
    Trust me. If you die tomorrow, you won't think of what car you have had, you very much likely will think about what else you have not done for your family and why you are dying tomorrow. As an emergency physician, ironically I often end up providing advice on palliative care in the Emergency Department to those who are dying and to those who are by the dying loved one. I know the phrase you used is very common and I don't mean to come across patronizing (sorry if I do), but I think for a very good reason some people here kept saying to you sometimes a dream is better to stay as a dream. I think today after the market hits below 20k points, looking backward to what you wrote months ago should have a different meaning when the world is chaotic with health and finances, right?

    I strongly believe you will truly be able to afford your Ferrari when you no longer need to come to this virtual world for advice on how to afford a car. ( Ferrari is just a car)
     
    Texas Forever and MWHC4S like this.
  18. IloveGT

    IloveGT Formula Junior

    Oct 17, 2015
    922
    You actually nailed it. Ferrari is actually a irrational purchase that is guaranteed to depreciate, so you should have enough FU money to spend irrationally. Emergency cash is for emergency. Having a Ferrari is not an emergency.
     
  19. Carnut

    Carnut F1 Rookie
    Rossa Subscribed

    Nov 3, 2003
    3,673
    Gladwyne PA
    Full Name:
    Morrie
    I think you are smart OP, now send it to me for a couple months and what you will get back will make you forget you ever wanted a Ferrari. Though it might cost you more than you paid for car. I have not been without at least one Porsche (have 3 now) for over 4 decades. I am on the hunt for another 4C (spider this time) and I intend to turn it into something that can run with a 458/488, once I'm done and on to a new project I will probably (unless I really like it a lot) offer it for sale on here and the 4C forum.
     
    Texas Forever likes this.
  20. Texas Forever

    Texas Forever Four Time F1 World Champ
    Rossa Subscribed

    Apr 28, 2003
    43,078
    Texas!
    I'd be interested in hearing more about your thoughts on dying. I have always thought it is naive to say, "He died happy doing what he wanted to do," after a car crash. Dying happy is a oxymoron. Dying fulfilled is perhaps the highest goal in life.
     
    IloveGT and EnzoItaly like this.
  21. IloveGT

    IloveGT Formula Junior

    Oct 17, 2015
    922
    #121 IloveGT, Mar 23, 2020
    Last edited: Mar 23, 2020
    Didn't want to derail the thread, but I see there is no other replies anymore. I often see patients who are stricken with end stage diseases in the ER and they seemed relief and not sad when finally realizing that this is it. Sometimes, they and the family choose the order of Do Not Resuscitate inside the ER when realizing the efforts are nothing but only an effort to alleviate guilt and inflict more physical pain to the patients without any more of tangible return.

    Life is not just about black and white (i.e. life and death) and the quality of life to most people I have treated are of upmost importance. How one defines quality of life does change with how one lives and how old that person is and more importantly how quick the death is approaching.

    From those who does not have a Ferrari yet like OP, @Nissanzx1, of course it is not uncommon to hear his previous saying of "If I died tomorrow, I know that I had the love of my family and friends and enjoyed some great toys along the way. " But I believe that if there is a survey among the cancer survivors and those of us who had lost someone on this board, a common response would be that the last thing we ever wanted is a Ferrari, if our life can be longer to take care of the loved ones and that the loved one can stay just a little bit longer, eating ice creams and watching just one more movie together.

    Sometimes it takes the smallest thing to fulfill a life. It is all about perspectives. Tell your loved ones that you love them. They will remember it before they die and they may feel fulfilled.
     
  22. Texas Forever

    Texas Forever Four Time F1 World Champ
    Rossa Subscribed

    Apr 28, 2003
    43,078
    Texas!
    Thanks. I work professionally in the business exit/retirement planning space. (I'm a CPA.) I help business owners save taxes on the sale, but also how to transition to life without a business to run. A couple of years ago, I expanded into helping clients downsize and getting ready to age in place. After recent experiences with family members, I'm working on planning for "dying in place." At 67, I understand the importance of accepting death a whole lot more than when I was 37. What's interesting is I'm finding my clients are open to the idea. Accepting death is not in our American DNA. It is certainly not in our health care DNA. Personally, I'd rather die at home than live another nine months going in and out of ER. Therefore, I would appreciate hearing more about your perspective.

    PS Don't worry about derailing threads. This is the Internet where thoughts are measured in nanoseconds. ;)
     
    MWHC4S and Nospinzone like this.
  23. Nospinzone

    Nospinzone F1 Rookie

    Jul 1, 2013
    4,945
    Weston, MA
    Full Name:
    Paul
    All so very true, but it hurts to hear it. :D

    Seriously, I appreciate your posts and the perspective they bring.
     
    IloveGT likes this.
  24. MWHC4S

    MWHC4S Karting

    Jun 30, 2004
    58
    Brainerd, MN
    Full Name:
    Mark
    I write in support of what IloveGT started. I am an anesthesiologist, and see the end of life much too often.
    I would encourage all to make sure that the emergency funds are in place, value the most important (not material), and respect each day (it ain't guaranteed no matter who you are).
    If all things are stable (which they aren't now, or for the near future), then go spend stupid money.
     
    vrsurgeon, IloveGT and Texas Forever like this.
  25. Mbelliss

    Mbelliss Rookie

    Mar 28, 2018
    20
    Michigan
    Full Name:
    Mark B
    The responses got heavy here. My POV: there are a lot of things to love in life. My father died when I was young. He said to me before he passed, “only the good die young”. Well, I’ve balanced the fact I’m here to care for my loved ones, and to also indulge my passions before my time is up. Ferrari was part of that. I love cars. I waited, bought others, but am so glad I pulled the trigger 2 years ago. No regrets—go for it!


    Sent from my iPhone using FerrariChat.com mobile app
     

Share This Page