Would You Roll The Dice On A $31k Ferrari

Some time back, a colleague of mine announced he was shopping for a used Ferrari 308. “Don’t do it,” was the advice I gave him, because “there’s no such thing as an affordable Ferrari.” He listened to me then, but succumbed to the affordable exotic fever a few years later. When I caught up with him last year, I asked how the Ferrari was. “Great,” he said, “it hasn’t cost me anything yet this year.” Which was his way of saying that he hadn’t been driving it lately, because the car needed some $5,000 worth of engine work. The timing belts, for example, were long passed their replacement intervals. Still, it was a Ferrari, it was paid for and it was in his garage, and that was good enough for my buddy.
Read Article

theoptimisticpessimist - 3/14/2011 9:55:26 PM

+2 Boost

LOL $5000.00 right, Our local dealer charges $20,000 - 25,000 for a major service (including timing belt). My guess is car need any major work it's a total.

Steve - 3/14/2011 10:18:25 PM

+1 Boost

Close friend of mine got a near show-room condition Aston Martin DB6, with only 20K on the clock. It was sweet. $25K in the first year of ownership, consumed by routine repairs and maintenance. It was gone the following year.

Depreciation and a reduced sticker price does *not* affect the cost of maintenance and repairs. If the car cost $150K new, then expect shop visits that are in line with that $150K new price, and not your $40K used purchase price.

An exotic car is like an airplane: It's for folks with deep pockets.

Agent00R - 3/15/2011 12:37:00 AM

+1 Boost

Or like a boat.

A wise man once told me it stands for:

Bust
Out
Another
Thousand

Bmw8ter - 3/15/2011 8:23:43 AM

+2 Boost

And I'm sure like a boat, the two proudest days of exotic car ownership are the day you buy it and the day you sell it.

PUGPROUD - 3/15/2011 8:11:53 AM

+2 Boost

Snake Eyes you loose !

Need4Speed - 3/15/2011 8:58:35 AM

+2 Boost

I would buy the 308...then spend the 10 - 15 grand to hook up a nice garage with a lift and do my own work. ...forget that, I want the garage more than the 308.