Supercar owners of blind
Update: I'm a mechanic, also I like cars a lot Is anyone here a supercar owner (Ferrari, Lambo, Aston, Bentley, RR, r8, i8, NOT Tesla)? How much do u make? I'm asking because my friend has a used Ferrari that he can sell me for about the price of a nice bimmer. And even though I can definitely afford it I don't think I deserve to, unless there are other owners of supercars that also aren't millionaires. The plan is to fix it up and sell it for a profit once its value starts going up again in a few years
Be sure to spend some time understanding how much it will cost to fix it up before buying... maintenance costs can be enormous. Just because you can afford to buy it doesn’t mean you can necessarily afford to own it.
Something I was told about owning a supercar is that even though it may be used/old, the spare parts and specialized labor needed to repair them are still for a 100k+ car. So, it’s not the cost of the car that’s the issue, it’s the maintenance. Example: a Lamborghini’s clutch is an 8k replacement, and the don’t last much longer than 60k miles. It’s not how much you earn or have - if you want and can afford the car and will get enjoyment out of it, go for it. Others spend their money on travel, or on their house. It’s about your priorities and values, no-one else’s.
A lot of people buy super cars as toys, not daily drivers. If you are considering this a daily driver then the maintenance issue will likely be the biggest cost component.
Ferrari a daily driver ? Lol. I mean a Porsche or R8 is definitively designed to be a daily driver. Lambs and Ferrari are toys. And nothing wrong with that, I love Lambo. Mine will be orange :)
Don’t do it. Invest it and retire early.
Don’t do it unless you have at least $10 millions. I drive a $99 lease Nissan Leaf
Good advice if you’re level 3 or below at a company
Millionaires don't drive supercar
Hmm, I know several, and a few of them have supercars (mostly Ferrari’s), so that is blatantly false. As I/others have said - it’s up to the individual and their priorities. Certainly not advisable if you don’t have the basics - house, good pension, savings, etc - but once those are ticked off why not?
Old supercars are very difficult to "fix up". You need many specialized tools and it's difficult. It's not a DIY project and for the cost you will pay to have someone else do it, you could afford a newer car. Your friend probably knows this and is trying to get our of his bad purchase.
I love the level-headed responses here. The same point is echoed in books like "Life or Debt" and "Rich Dad, Poor Dad", (which btw you all should read). FWIW tho, there was a Blind survey not long ago asking what we all drive.
What model of Ferrari is this?
F430 scuderia, blown head gasket, wheel bearings beat, 1st gear slips
Ooh, stay away then - F430’s are known not to be particularly reliable and costly to run. This guy has a few videos on owning an old Ferrari. https://m.youtube.com/channel/UCsqjHFMB_JYTaEnf_vmTNqg https://m.youtube.com/channel/UCsqjHFMB_JYTaEnf_vmTNqg
I’m a millionaire (not multi) and drive a 25 year old beat up truck. However, if given an opportunity to get a good deal on a cool car, I would consider it. In the end, I expect I’d decide that getting to millionaire took sacrifice and buying a toy like that is not how I got there or how I retire young. I’m currently 45 and tracking to retire comfortably at 57. I hope to move that number to 55. A Ferrari won’t get me there.
Love it . I am multi millionaire and used drive Corolla
O, we're opposites. I am multi hundred (not single) and drive a 25 hour old ferarri. Planning to retire uncomfortably at age 570.