Is that a succession of lucky GFV's leading to equity over a few deals, or a fat wadge of cash from savings? I'm not trying to be picky I'm just trying to learn more about car financing, and what it really takes to be drive big boy cars
. Only ever bought cash so far but I am thinking about an R8 next and the numbers are getting scary.
Basically money invested in cars, then cars sold led to have a rather large sum of cash, I owned the SVR outright and sold it privately, then put money towards it so I could put as big as deposit down as possible. I then also re-financed with a different broker who gave me a more aggressive APR and paid another lump sum of the balance owing, hence paying less than £300 a month and as the car essentially has no running cost other than fuel and insurance, well Ferrari ownership so far has being nothing but amazing, the free holidays / events they take you on is a nice bonus.
The Ferrari to us is a car to enjoy and could also be an investment, their values for high specification models are strong and our plan is to have it near as dammit paid off in another couple of years and to then either just keep it locked away in the garage only bringing out on nice weekends if values look to be going up up and up or if they just seem stable and not showing much signs are moving up more then probably just sell it and bank the cash, but until that time comes we've both decided to just keep it because for me there is nothing better in existence, I drove everything and the 458 won by miles, everything else just felt nowhere near as special. But I do know now Winter is moving in I am certainly going to be missing the SVR, that remote start, heated screen, heated seats and AWD were a joy in such conditions, though the Abarth will do the role OK and the Ferrari can remain locked up.
All being well the Clio shall be gone this weekend too, as the M3 went a few weeks ago.
P.S. If your thinking R8, forget new, you will loose money so fast, they depreciate like crazy, I've seen V10 manuals for 40k, that is a good place to put your money, downside is lack of warranty and potential bills. But an R8 V10 manual will give you all the smile and giggle factor pretty much of a brand new R8 V10 S-Tronic, maybe more so if you prefer idea of a gated manual. I'd look for one at 40-50k, then have 10k in savings in case it decides to have any moments, but with a manual you should be safe. Finance wise magnitude, HMC, Paragon are all good finance companies that will generally give you somewhere between 3.5-5.5% if your credit history is good!
![[TW]Fox](/data/man-of-honor/2009.png){kind=avatar}
