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Discussion Starter · #1 ·
I was thinking about Ferraris

I was thinking about Ferraris today and was wondering how much people pay a month for their Ferrari and I guess how much their insurance was for it. That and if you are leasing it or buying it. If you own a Ferrari please post what model it is and how much a month you pay. I know they are expensive to buy but I can't imagine leasing is as bad.
 
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Discussion Starter · #2 ·
I don't know anyone who le

I don't know anyone who leases one. Does anybody lease? If so why? On a 200k brand new car the lease payments are like 2grand.
 
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Discussion Starter · #3 ·
When it comes to cars, I don&#

When it comes to cars, I don't buy new, and I don't lease.
I buy used, and let the guy that bought it new take the depreciation sock.
And I never make payments on a Play Toy, only cash.

As far as insurance goes, my old Ferrari is the least expensive car I have to insure.
 
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Discussion Starter · #4 ·
If you can't pay cash for

If you can't pay cash for it you can't afford it. As the man told Al Pacino , "Sir this is not a installment item"
 
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Discussion Starter · #5 ·
I agree with the fellas. A Fer

I agree with the fellas. A Ferrari is not the kind of car you make payments on.
 
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Discussion Starter · #6 ·
Well, with all of that "ca

Well, with all of that "cash only" talk, David Jones, Frank Foster, and ernie each seem like they really need a lawyer (lucky for them I'm a lawyer who needs cash too)
. To the point: I am making payments on my Ferrari. At 5% interest, I can use my money somewhere else and get 8% or more. I do wish I were in the "cash only" crowd, but hey, there can't be the big boys unless there are some of us little ones around.

Andrew
 
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Discussion Starter · #7 ·
Hardy har har, your a funny gu

Hardy har har, your a funny guy Drew.

Most people get cars on the monthly payment plan because they cannot afford to buy the car out right. When they do this the car normally comes with a warranty, and depending on the make is usually trouble free. Put the gas in and go. However not the case with a Ferrari, especially an older model. It isn't hard to attain a Ferrari. What really costs the bucks is to maitain a Ferrari. The parts are extreamly over priced, and the laybor rates at the dealers are insane. Now you can find very good independant mechanics, that charge honest fees, but even then you are gonna take a hit on the parts. For example, I did the engine out major on my 348 myself. On only parts, I spent well over $1,200, this did not include the tools. So even if you do your own work you are gonna take a hit in the parts department. As an owner that did the one payment plan, and who does his own work, I do not advise financing a Ferrari. You won't mind the payments until it comes time to start paying the mechanic. But if you can swing the payments and the cost of up keep, then have at it. Other wise wait till you can buy it out right, or lower your standards. If all you want is a Ferrari, and it doesn't have to be a 575 or 360, then there are some models out there that can be had in the teens. Yes $16, 17, & $18,000 bucks. But even then the maitainance is still expensive. So just be aware.
 
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Discussion Starter · #8 ·
Well thanks for all the info.

Well thanks for all the info. Ok, I will get a job and take $9,000 every month until I have eneough for a Ferrari, that or just get something $100,000 cheaper. Just joking. Its not always how much a car is, but how much you enjoy it or how much to do with it. Having a ferrari either way woule be a plus.
 
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Discussion Starter · #9 ·
"The parts are extreamly o

"The parts are extreamly over priced"

I have not found this to be true, however, they are not inexpensive, and are comparable to the parts cost when something goes wrong inside your Rolex.

"and the laybor rates at the dealers are insane."

I don't find the rates usefully different that race preperation shops, nor all that different than Porsche shops.

I bought my car outright, but if you can swing the payments and then deal with a $5000 problem on the car without having to eat peanut butter for a whole month, go for it.
 
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Discussion Starter · #10 ·
...or Taco Bell!! LOL!


I


...or Taco Bell!! LOL!


I eat a LOT at Taco Bell.


"Give me the luxuries of life, I'll gladly do without the necessities." Frank Lloyd Wright

He drove a Ferrari also!!
 
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Discussion Starter · #11 ·
Mitch your crazy. $60 for a oi

Mitch your crazy. $60 for a oil drain plug is over priced. $20 for an oil washer is over priced. $195 for EACH spark plug wire is extreamly over priced. $950 for a water pump IS OVER PRICED big time! Add to this that they want you to replace the water pump on a 348 every time you have the engine out for the belts, according to the dealer. That is every 30,000 miles. Yet the water pump that is on my Acura has over 65,000 miles on it, and it also runs off of the timing belt. Oh yeah it costs a whopping $110. SO like I said the parts are over priced. Now on to the laybor. Lets see most Ferrari dealerships charge in the neighborhood of $100 - $120 per hour. Then they pad the work hours big time. You will here, "to remove and replace the engine is about 20 hours of work". What a load. It took me four hours to remove the engine out of my 348, and under five hours to put it back in. That is eleven hours faster than they claim it takes the "factory authorized" rip off artists at the dealer. Oh yeah and that was using two floor jacks. Again like is said, the labor rates the dealers charge are INSANE.
 
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Discussion Starter · #12 ·
"Mitch your crazy."

"Mitch your crazy."

I think you mean:

Mitch you are crazy.
or
Mitch you're crazy.
but
"Mitch your crazy": indicates that I have property rights upon crazy; which is far from the truth.

In any event, I never claimed otherwise.

As to parts costs: Acura (your example) and associated Hondas (using the same engine blocks) sell several million cars per year and amortize the cost of water pump development over the entire run. Ferrari sold 3000+/- F348s per year. So with the same development costs associated with a water pump for each manufacture, Honda passes on only 1/1000 as much development cost per part as does Ferrari. In addition, Honda can assume that a certain number of pumps will sell per year, decreasing warehousing costs. Ferrari cannot.

Perhaps you would be willing to build a water pump from raw castings and sell them into the burgening Ferrari F348 water pump market and make a killing? <not>!

As to copper washers: I have a different supplier and get them for $0.20.

As to Labor costs: Perhaps you think your mechanic should live on peanut butter in a trailer park?
 
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Discussion Starter · #13 ·
>>As to Labor costs: P

>>As to Labor costs: Perhaps you think your mechanic should live on peanut butter in a trailer park?<<

sad but true!

it takes far more dedication to be a really good Ferrari mechanic than many realize!!
 
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Discussion Starter · #14 ·
Mitch

Alot of the parts tha


Mitch

Alot of the parts that are on a Ferrari are not even made by them. Yet they get marked up just because of the name. Like the spark plug wires. The ones that came on my 348 are made by Bosche. Bosche makes tens of thousands of spark plug wires every year. So Ferrari has no burden of even making the wires, yet alone storing them. All they do is have a stamp of a little horse put on the rubber boot, and presto, that $20 wire is now $195. Owners in the U.S. are over charged, for no other reason that living in this country. You can thank Chinetti for that.

My mechanic charges $65/hr, that is a fair price. He is always booked with work, and also seems to be living quite well. The dealers may charge race shop prices, but they do not give race shop quality work. Again the price gets set just because of the name.

To those of you considering getting a Ferrari. This is just a sample of what you have to contend with.
 
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