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Old 03-30-2009, 04:06 AM   #1
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Can You Afford To Drive A Ferrari?

A friend sent me this article after we were discussing my anticipated cost of ownership of my (new to me) '03 Boxster S compared to the extremely affordable Triumph TR8 I've had for the past 24 years. Now I can tell my wife, "at least I didn't buy a Ferrari" ;-)

http://www.sportscarmarket.com/articles/archives/939

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Old 03-30-2009, 05:55 AM   #2
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Buying a Ferrari is an emotional decision; a Porsche is an intelligent one. The trick is getting the emotion out of your system before you commit.
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Old 03-30-2009, 06:19 AM   #3
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Smile

Or you can do both and have 1 of each like I do.

regards,
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Old 03-30-2009, 06:40 AM   #4
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Quote:
Originally Posted by JP308
Or you can do both and have 1 of each like I do.

regards,
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I've owned three Ferraris ('72 Dino, '79 308, and '83 512BBi) and, while I had a great time, I no longer regard them with the same love-blind loyalty that I had in the '80s.
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Old 03-30-2009, 07:04 AM   #5
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Originally Posted by Ofishbein
Buying a Ferrari is an emotional decision; a Porsche is an intelligent one. The trick is getting the emotion out of your system before you commit.
I guess that depends on the size of your wallet. Buying my boxster was an emotionally-driven decision and the car has cost me plenty to keep it on the road creak and squeak free (poorly built control arms, etc.). Not as much as a Ferrari from what I've heard, but far more than I have spent on any other car I have owned.

Of course, I'm not whining... I really do love my Boxster and will keep it for a very long time! It's just a very expensive car to keep in excellent condition after it has 75k or ten years on it.
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Last edited by RandallNeighbour; 03-30-2009 at 07:06 AM.
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Old 03-30-2009, 08:39 AM   #6
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Randall, a lot of your expenses have been discretionary, not that I'm judging, after all we spend a long time in the dirt.
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Old 03-30-2009, 08:57 AM   #7
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Quote:
Originally Posted by Ofishbein
Buying a Ferrari is an emotional decision; a Porsche is an intelligent one. The trick is getting the emotion out of your system before you commit.
I'm with Randall on this one. Buying a Toyota Camry is an intelligent decison. Buying a Porsche is still an emotional choice.... potentially an expensive emotional choice.
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Old 03-31-2009, 09:13 AM   #8
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Every car I have ever bought has been an emotional choice. I have never bought a car to go from A to B, to me, it's all in the drive to get there.
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Old 03-31-2009, 10:05 AM   #9
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That article was not surprising. I have read in numerous magazines that the maint. on the 12 cylinder Ferraris is through the roof - makes the 8 cylinders seem like bargains. They pretty much shoot down the notion of purchasing a 456GT.

Still, I can remember shooting the sh#@ with one of the salesmen at Luxury Motors about 360 Modenas, and he said the first major service (12 mos) is $8000. I don't know if he was pulling that from his rear or what, but that seems a little ridiculous.
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Old 03-31-2009, 01:24 PM   #10
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That article was not surprising. I have read in numerous magazines that the maint. on the 12 cylinder Ferraris is through the roof - makes the 8 cylinders seem like bargains. They pretty much shoot down the notion of purchasing a 456GT.

Still, I can remember shooting the sh#@ with one of the salesmen at Luxury Motors about 360 Modenas, and he said the first major service (12 mos) is $8000. I don't know if he was pulling that from his rear or what, but that seems a little ridiculous.

I believe it, worked with a cardiologist who owned a Ferrari, they are rich men's toys. I only wish I had trained to service such vehicles, if you are a cracker jack Ferrari wrench, you're going to do fine in life...
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Old 03-31-2009, 02:15 PM   #11
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I remember when they wouldn't sell you Ferrari even if you had the cash. They put you on a first time Ferrari buyer waiting list that was years long. if you wanted to buy within a year you had to pony up enough to buy BMW. More millionaires in America than Ferraris to go around. All this was great for used Ferrari auto sales.

ah..... it was only 18 months ago...
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Old 03-31-2009, 03:50 PM   #12
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Originally Posted by Perfectlap
I remember when they wouldn't sell you Ferrari even if you had the cash. They put you on a first time Ferrari buyer waiting list that was years long. if you wanted to buy within a year you had to pony up enough to buy BMW. More millionaires in America than Ferraris to go around. All this was great for used Ferrari auto sales.

ah..... it was only 18 months ago...


Old man Ferrari wouldn't sell you a car if he didn't like you, I love that...
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Old 03-31-2009, 10:11 PM   #13
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I've been keeping an eye on the used Ferrari market nearly every day for the last 6 months. I probably won't buy one any time soon, but if I do, it would be an F355 or a good old Testa Rossa. I've seen decent TR's for $50k to $60k recently, and a fully serviced F355 seems to be around $65k.

Reading the article about the cost of ownership, all I could think was how you could reduce most of the repair costs by a factor of 10 if you did all the labor yourself.

I'll probably hold off on Ferrari ownership until I have a garage with a lift in it. Once I have the ability to do my own engine-out service, I think I'll be all out of excuses not to do it.

I wouldn't sell the Boxster if I bought a Ferrari. I'd have to have something to use to bring home groceries.
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Old 03-31-2009, 10:34 PM   #14
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I know a guy who came into some money and ended up buying two Ferrari's. One 87 Testarossa and a 308? He has done his own work because he has a machine shop, has been rebuilding cars for years and knows how to get a hold of wiring diagrams and such. I would be the nutjob who would buy a 360 and work on it himself. I want to rebuild a Porsche flat-6 just for fun.
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Old 04-01-2009, 03:40 AM   #15
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I had to sell my 64 MGB of 25 years to be able to afford the Boxster. The car was well sorted out and the fastest B around, pull handle or not. Headwork, suspension, trans, cooling system, etc.. I probably put as much yearly money into this car as I have the Boxster and still couldn't really trust it to go cross country. I did put on over 200K on the car in 25 years so I did use it, but it was a different kind of car than the Boxster. I have never regreted selling it but I am saving up for a TD. There is a reason they call our cars modern. Ed
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Old 04-01-2009, 02:20 PM   #16
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Quote:
Originally Posted by roadracer311
I've been keeping an eye on the used Ferrari market nearly every day for the last 6 months. I probably won't buy one any time soon, but if I do, it would be an F355 or a good old Testa Rossa. I've seen decent TR's for $50k to $60k recently, and a fully serviced F355 seems to be around $65k.

Reading the article about the cost of ownership, all I could think was how you could reduce most of the repair costs by a factor of 10 if you did all the labor yourself.

I'll probably hold off on Ferrari ownership until I have a garage with a lift in it. Once I have the ability to do my own engine-out service, I think I'll be all out of excuses not to do it.

I wouldn't sell the Boxster if I bought a Ferrari. I'd have to have something to use to bring home groceries.

TR is one of the Ferrari models requiring engine out freshening although I don't recall the intervals. As for DIY Ferrari repair, with a 500.00 washer tank the parts would still be a kick in the ass.
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Old 04-02-2009, 05:45 AM   #17
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My sisters father in-law has a ferrari 360. He said oil changes cost $1500!!! That's insane. I think I would learn to do it myself. Can't be that difficult.
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Old 04-02-2009, 05:21 PM   #18
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I seem to recall my dad telling me that a Ferrari mechanic he knows told him to allow a good $10k/year or so for the maintenance on one. I'd love to own one. In fact, it's probably my biggest life goal. I just don't know if realistically I ever could. I make good money but not THAT good. When I bought my Boxster I gave a quick thought to keeping my Lexus as a daily driver and instead of buying a new Boxster buying a used Ferrari for the same amount of money. I just think it would be too much even though both cars might cost about the same to buy.
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Old 04-07-2009, 11:09 AM   #19
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To me it is a matter of convenience here in SE coastal NC. My servicing dealer is 2 hours away. Ferrari dealer Is more like 4.5. Where I bought my Box in 04 actually. Odd dealer combination, huh! Also sold Masers. Used car showroom is like a museum.

I don't think I'd touch one out of warranty, or even used.

Much as the Dino 246 used to speak to me. No it yells "Don't you dare!"

And yes, my selling dealer has a used 246 on the floor.
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Old 04-07-2009, 11:26 AM   #20
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After reading what each person has added to this thread, I'm thinking the two best days of Ferrari ownership are the same as boat ownership:

The day you buy it and the day you sell it.

I'll stick with my lowly Boxster. I drove it down to a buddy's house last night with the top down on the way and the top up on the way back because it was cold outside... and enjoyed it in both directions.

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