Financing a Ferrari

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Mar 6, 2013 | 07:15 PM

#16

DarrinB

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Quote:

Originally Posted by giants08

8-10 years to keep the monthly payments as low as possible
with the expectation to pay off a lot sooner based on projected earnings

So your buying an exotic based on speculation?

If you need to finance it for that long you cant afford it.

Good Luck

Mar 6, 2013 | 11:12 PM

#17

AlgaeHater

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Quote:

Originally Posted by giants08

8-10 years to keep the monthly payments as low as possible
with the expectation to pay off a lot sooner based on projected earnings

Lunacy.

Mar 7, 2013 | 07:12 AM

#18

giants08

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Not speculation guranteed money based on a contract
Im glad you know more about my finances than me

Quote:

Originally Posted by DarrinB

So your buying an exotic based on speculation?

If you need to finance it for that long you cant afford it.

Good Luck

Mar 7, 2013 | 09:39 AM

#19

jaspergtr

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Quote:

Originally Posted by giants08

Not speculation guranteed money based on a contract
Im glad you know more about my finances than me

This. Everyone's priorities are different.

I don't like hearing that I can afford a Ferrari... Sounds too tempting.

Mar 7, 2013 | 09:55 AM

#20

Christian

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If you are looking for the lowest payment you better put back that savings for service and/or repair

Mar 7, 2013 | 10:25 AM

#21

giants08

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Understood, based on the discussions with other owners i know to expect at least 10k a year for maintenance/wear and tear

Mar 7, 2013 | 10:54 AM

#22

jaspergtr

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Quote:

Originally Posted by giants08

Understood, based on the discussions with other owners i know to expect at least 10k a year for maintenance/wear and tear

For which model?

Mar 7, 2013 | 11:35 AM

#23

yellowbull

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yellowbull is infamous around these parts

On an f430 Maintenance will only run you about $800 per year. And the 2 year service is about $1900 but that will only need to be completed every other year

Mar 7, 2013 | 11:40 AM

#24

jaspergtr

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Quote:

Originally Posted by yellowbull

On an f430 Maintenance will only run you about $800 per year. And the 2 year service is about $1900 but that will only need to be completed every other year

This is closer to what I was expecting - not $10k/yr. Of course, if we allot $10k/yr, that should cover any mishap not originally planned.

Also figure in tires/brakes.

Mar 8, 2013 | 04:33 AM

#25

giants08

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thats was for a scuderia
with the assumption of a component failure /breaks and tires being performed
but as yellowbull highlighted the maintenace cost could be as low as 1k a year