458 What's a fair (pandemic) offer for this car?

"...especially those that suffered badly and lost their lives"

Is that you Wayne Carini?

 

I don't see these cars being worth necessarily any less due to the pandemic, but they will depreciate naturally with time to an extent of course provided the mileage doesn't get exaggerated. I've talked to a couple of dealers and people will still pay decent dollar for all these types cars regardless of pandemic or not. These are ultra luxury items which, while impacted by recessions, tend not to get hit any worse than other ultra luxury items. You either can afford them or you can't, and whether or not times are bad or not isn't necessarily going to change that too much.

The car you showed is a beautiful car btw! If you can truly get it for $200k go for it!!

 

There's a difference between trying to be sneak and talk some old widow into selling a barn-find for pennies on the dollar that she has no idea about and low balling a 2013 458. Like I said, there is no reality is which you can simultaneously be a financially responsible person and be forced to sell such a car.

If you die and leave you wife with no money and a 458, whose fault is that? If you got very sick this past month and now you're broke with only a 458, whose fault is that?

 

Still laughing, thank you for making my day just a little brighter. Best , Kirk.

 

Mike and Natalie,

Have you considered flying to the dealer and driving back home? A road trip in your practically brand new, shiny Ferrari is bound to bring you wonderful couple bonding moments and memories to share with your children and grandchildren for years to come.

Kind regards to you both,

Nuno.

 

I wish we could. Truthfully, I’m a little disappointed that we will miss out on the whole experience of the reveal and hand over of the keys, and especially a drive up PCH in our new spyder. Gosh, that would have been epic. But I don’t feel right about getting on a plane right now. I take care of some pretty sick people, and have older family members. In what I do, a flight to Cali seems irresponsible when I’ve been advocating for social distancing. Not everything can be optimal though. It’s more important that we all get over this contagion so all of us can enjoy time together in the future. At Ferrari events, of course...

 

Like there's a difference between dispensing good faith wisdom or just being a schadenfreude.

No reality? Mike disagrees with a point, then impossible for a counter situation to exist.

What about a business structured where high run rates would quickly burn through savings? The owner passed away, and the unwind takes longer then say one month? Wife is left holding the bag.

 

Ya I live in Cali, cars seem to be a bit more pricy here. But I feel they are usually, in better shape, usually. Drive the 458, it deserves it and so do you.


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LOL

And why exactly would the family's savings and personal assets by tied up in this? If you have a $200K Ferrari then you should have millions in unencumbered assets. That's like one of the most important parts of having a corporation like an LLC.

Sorry, but if you own a Ferrari that you're so desperate to sell, it means you really ****ed up. If you own such a car, you should be able to write off the entire cost without even batting an eye and the value of that car should have no real consideration to your financial health.

The more expensive your toys, the bigger nest egg and safety net you should have. People with Ferrari should have very significant savings and have no problem accessing it or credit.

 

always great to see a woman driving a ferrari enjoy in good health

 

Lol, Only if this was true for most people in America.


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If your sitting on liquid cash in the bank its a very high opportunity cost, cash produces nothing at the moment and will not for some considerable time. Best to be investing in high yield low risk assets, I know that's what I'm invested in, someone might just not have cash around at that second and be caught in a fix. I know the possibility of this is quite remote but can happen, if someone is sitting on loads of cash as a percentage of net worth that isn't great either, with the right investments I know I can make a ferrari profit for not huge money down

 

That's why I said unencumbered assets. There are plenty of assets that are quite liquid besides cash.

 

Feel free to DM me what low risk asset is currently offering decent yield.

 

But not many that offer great returns and can be liquidated quickly for reasonable value in a strained market, stocks are hit, property is hard to dispose of now for a reasonable price, bonds returned nothing in the first place etc

 

Don’t be. As you said, there will be plenty of time. Next time you buy a Ferrari, you’ll have that experience I’m sure. And believe me, there will be a next one. These italian things are so addictive, you won’t stop at one. You’ll see!

Stay safe out there and give Mike our regards.

Kind regards,

Nuno.

 

you come back!!!

congrats on the car! beautiful.

totally agree with your statement above. The value of a merchandise is worth only what a buyer is paying for it during the transaction, and that is influenced by the market. Paying over the market value is okay when it comes to the perfect spec in a used Ferrari plus a cheap Ferrari is almost always more expensive in the future anyway. So happy medium is good. No dealer is crying when they finally sold a car, and no buyer is costing a sales representative a job when buying a car.

Let's be happy for Mike and Natalie, and stop talking if anyone is ripping off a dealer in this pandemic. (People call dealers "stealers" in Rennlist for reasons, LOL!)

 

If it’s any consolation, mine came on a trailer truck to my home a day after my birthday owing to a last minute snafu.

But once I saw the car, jumped in and hit the big red button, all was forgotten!

Enjoy in good health, send lots of inaugural pics, and drive the **** out of it. These things don’t like to sit, btw.

 

Bonds have returned a lot actually. Bonds don't have to be held to maturity. As yields go down, bond prices go up.

 

Mike
Congrats on the car !!!! Pictures.


What are you doing with the 430? Ive got one of those. Can’t seem to part with it. I’ve discussed this before but whatever you live about the 430 you will die for in the 458.


Pictures!!!


To the person who cannot seem to construct a reality where...., you’re very concrete and perhaps there’s a reason for that. Most of us live and let live. There are many ways to do that without judging or calling names.

My friend in energy has gone boom and bust many times. He is the happiest guy I know cause the next boom is always around the corner. No worries there’s room for us all here.


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Congrats and you are going to love both. I have an F430 and recently purchased a 458 back in December. Had the F430 out this weekend on some canyon drives. Took the 458 out today just to clear my mind after a long day of work. Love both the children, but maybe the 458 a little more... maybe a lot more.

 

Moderate Mike,

was not directed at you, just this situation in general.

I too tried to get the best price I could and negotiated price down 7 thousand and got 2 year factory warranty for discount.

There were other offers on my car and I decided not to lose it for 2 or 3 thousand more.

I wish you the best of luck with your car, its very nice.

Mike

 

Your words, not mine: "no reality is which you can simultaneously be a financially responsible person and be forced to sell such a car."

Yet what if the car itself is part of the LLC? Say an automotive business? Or say a pass-through business? Say you own a business that supports the cruise industry?

@Solid State stated there should be no glee gained from a financial loss for a person that passes from COVID-19. Your response was to show no sympathy as again; in your own words, there is "no reality" where Covid-19 (as well as it's ancillary effects on the economy mind you) had struck a financial fit person severely to the point of forced liquidation of a car.

Yet is it truly a surprise to any of us?