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Almost Banned Once
Join Date: Feb 2009
Location: Adelaide South Australia
Posts: 39,086
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Do you have $5,000 a year to blow on maintaining it? (Maybe less with a bit of hard work and good luck)
IMO It makes more sense to me to buy and maintain a Ferrari than buying a brand new car.
$5K Sounds "ouchy" but the reality is if you buy a brand new car you'll loose that on depreciation anyway.
Let me explain further... I can go out today and buy a brand new locally produced Holden Commodore or Ford Falcon.
With some extras, that would cost me about $34,000 to do right now.
So I keep this sensible family sedan for 5 years. At the end of that 5 years it's worth about $11,000.
So putting aside fuel, insurance and maintenance costs that car will depreciate $23,000 or just over 4 years of Ferrari ownership.
Let's say you keep the Ferrari for 5 years and swallow the maintenance costs.
The thing is the Ferrari will be worth more than either the Commodore or falcon after 5 years.
So the Ferrari will cost you more in "time"... Not money.
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As I posted earlier my neighbor DIYs an 80s Testarossa.
He's told me in 18 years of ownership it's never broken down or failed to start.
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- Peter
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