Tom Evans

I've wanted a Ferrari ever since I was a lad and I figured as I can't afford one now, let alone run it, I would get my old man to buy one.

Thing is, he and mum want to move to the Cotswolds and I don't, as my friends live nearby, so he said that he MAY buy a cheap house in the area, for about 100K. He would only do this if thought he would make some money when he came to sell it, as obviously he is going to have to get a loan.

Anywho, I said to him at dinner tonight, forget about buying a house and buy a Ferrari and I will never see my friends again. He said that if I could prove that they were a good investment and would sometime or other be as good an investment
as buying a house he would think about it.

Would probably be a 308/328 GTS fro around £25,000 - £30,000.

Sooo, please help make my dreams become reality . No seriously.

Would it make some sense?? I saw in a recent supercar supplement that an old Ferrari would be cheaper to run per year, than a Mondeo. Providing that you had an mileage limit, etc.

Even if it doesn't make sense then say that it does anyway. If we get one (unlikely) then you are all welcome to have a blast in it.

Remember that my old man is looking at this from an investment POV.

Cheers,
Tom

DavidBrown

Cars, an investment ? hahaha hahahah

(PS. hahah hahahaha)

Tom Evans

That a no then??

Neil Smalley

If a ferarri is such an investment how come it's now worth 25-30K, when it originally cost around the 60-80K mark?

The only ferarri's worth having are the uber rare ones, and i'm afraid your dad is'nt likely to be able to afford them(they're worth circa 1 million+)

It might even be worth moving to a really small house now. Keep the extra, then when the property market crashes(as it surely must do) buy a much larger house.

He'll then have 2 houses, so when the market rebounds he'll be able to sell one and buy a real ferrari.

Just my dodgy ideas...

GaryC

The article you refer to was saying an old Ferrari is cheaper to BUY than a specc'd up Mondeo - running costs will be 10 times higher. 'Engine-out' service every 30000miles at £3-4000 a time - even 6 monthly services are best part of a grand at a main dealer

Ferari's do hold their value better than almost any other car (a £25-30k 308 has lost less than 50% of its value in c20-25years ) but they ceratinly arn't a sound investment possibility - sorry!

Anyway - having driven a 328 a couple of months ago, I was very dissapointed. I have driven a good selection of Ferraris (355/456/348/550/512/F40) and they are superb, and on the whole drive like no other car - BUT the 328 felt its age. Was cumbersome, had rediculous heavy steering, awkward clutch/gearchange action and was just not as pleasurable driving experience For £30k, I would far rather have an Catherham R500 or Superlight R - any they hold their value almost as well as a Ferrari

Ferrari-wise - better to save up to the £50/60k mark and go for a 348 Competizione or LHD 355

GranTurismo

No chance.

The 80's yuppie let car thing is dead (hooray)

Even if you dont drive it the servicing will cost loads just to keep it in mothballs!

The only sound investment seems to be property. Rent it, then sell it.

RichB

A guy I know quite well buys and sells Ferraris, currently has F40 and Dino (both for sale).

He thinks there is a recesion on the way and cars are not a good thing to have during one unless it is a real classic.

Stick it in a shoe box under the bed, it'll be safe there...... where does he live BTW?

Tom Evans

Thanks for the replies chaps.

I'd have a Ferrari anyway, regardless of whether it makes money, because it is a Ferrari. I love them to bits, always have, always will.

My dad on the other hand doesn't want (can't afford) to spend £30k - £40K plus on a car which may plummet in value. Ideally he wants it to increase in value, but I can't see this happening unless, as Neil says, it's a rare model. Something like a 250GTO perhaps, for about 6 million at auction

He's now on about moving to a smaller property and getting a second car like a Morgan Plus 8 (he's always wanted one. Put his name down years ago, but moved), or an Austin Healy 3000.

Any suggestions for a classic car that will hold its value well, or not.

Cheers,
Tom

Mellow Yellow !

iTrader: (1)

It's a passion, not an investment me thinks, I purchased my pals F40 in 1990 just after the stock market tumbled, I gave £45k at the time firmly believing I'd make a profit.
Several years on and £1000 a service to maintain the car and it's record book I attempted to sell it last year, no takers at £65k, eventually ended up at Stratsones earlier this year for some work after being sideswiped by a lady in a jeep, a chap with a porker saw it, wanted it, so Ron Stratstone phoned me and said he'd have to take the chaps porker in p/x and my F40 needed repairing ( £8k ) but could return me £45k ?
I took it.
Then after the event lots of people shouted "I'd have bought it for that !"
Problem was, no - one had the cash available, so price was imaterial.
So I.M.H.O, an investment no.
A passion, most definately.
Would I go there again........not unless I had a million or two in the bank

Brendan Hughes

RichB, what price does a Dino go for these days? Saw one parked on a street corner here, beautiful little thing. "Dino Owners Club Switzerland" sticker on it. I don't know whether they're 30k or 100k

BJH