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What car to buy or keep

  • Keep the 640 rwhp Z06

    Votes: 10 50.0%
  • Sell the Z and buy the Ferrari F355

    Votes: 7 35.0%
  • Keep the Z and sell it in 5 years, then get a Ferrari F360

    Votes: 3 15.0%
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Discussion Starter · #1 ·
I need your help guys/gals. I've put alot of time and money into my Z and it's getting the engine swapped out this week. I know once its tuned and running well, I could sell it for about $45k (I owe $24k), take the $20k along with my already approved home equity loan and get a Ferrari F355. It's been my lifes dream to own a Ferrari. I am a car freak and have no life so go figure. I found a beautiful F355 that is exactly what I want. So, think I should keep the soon to have 640 rwhp Z, get the F355 now (take advantage of the fact that Im not married and have no kids), or wait another 5 years and get a F360 Modena (if Im not married with kids by then).

Thank you for your advise and insight,
Jim
 

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640rwhp and you still want a Ferrari? I can't understand that. :-? :-?
 

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The 355 is one of the most beautiful cars ever made. I would love the chance to just drive one to see how I would like it. Sounds like you have a very nice Z, though. That, coupled with the fact that I do not like the idea of buying a car with a home equity loan... I would probably keep the Z.
 

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I really think that you should enjoy your Z.....get out of debt and reconsider later. Dude.....you can't enjoy it as much as the Z in terms of the DD aspect, or do you have another car, a secure garage, and insurance that'll not bend yuo over?? JMHO.


-Tony
 

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I know you can taste that 355, but is never a good idea IMHO to take out a home equity loan to buy a fancy toy. Be patient and use your money wisely. The cars will come in time. Use the home equity to purchase rental property so you can make more money over the long run, and buy an ENZO (or whatever your heart desires) instead, with the profit made from the rental poperty over time. The investment will get you more fun in the long run.

Since your single go find a women who likes cars too. They are out there.
 

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Discussion Starter · #6 ·
holedgr said:
I really think that you should enjoy your Z.....get out of debt and reconsider later. Dude.....you can't enjoy it as much as the Z in terms of the DD aspect, or do you have another car, a secure garage, and insurance that'll not bend yuo over?? JMHO.


-Tony
Yeah, I have a '02 Ranger XLT that is paid for and I drive it alot, I do have a garage and USAA for insurance. I know it may sound irresponsible to use my equity to buy a car but I've seen too many of my friends and some aquaintances die this last year. I have a couple of small investments and put money aside every month for that so I wont be stretched thin by any means. The only debt I have is the Z and my mortgage.
 

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I'd stick with the Vette. think about what the Ferrari costs for maintenance, insurance, etc.
I heard they require you only use thier brand of oil, clutch change something like $3,000. So on and so forth...Ferrari's always been my dream too, but reality has to be factored into your decision.

Good luck! :thumb:
 

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Don't be so fickle.You haven't even got the Z back from mods and your already thinking of another car?Why would you want to go into debt for a slower car anyway?If your Z06 has 600rwhp,then I'd go play with it for awhile before even considering selling it.Besides,if you want a Ferrari,just to have a Ferrari,you should think about a used 308GT or a 348 Testerossa.I agree the 355 is a beautiful car but if you have to take out a home equity loan for a Ferrari,you can't afford it. :NoNo:
 

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spdrcrj said:
Yeah, I have a '02 Ranger XLT that is paid for and I drive it alot, I do have a garage and USAA for insurance. I know it may sound irresponsible to use my equity to buy a car but I've seen too many of my friends and some aquaintances die this last year. I have a couple of small investments and put money aside every month for that so I wont be stretched thin by any means. The only debt I have is the Z and my mortgage.
I might be in the minority on this one, but I say go for the Ferrari. It's your money, and you have no real debt.....get your dream car. :thumb:
 

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I say buy the Ferrari. Everyone should own one once. My time hasn't come yet. :idea:
 

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i say buy the ferrari as well. but only if you enjoy driving long distances to get your car fixed. most of us do not live anywhere near a ferrari service department. make sure you have a second car!!!
 

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It was my dream as long as I can remember to buy a vette. Now I'm 27 and I've had 5 of them. It's been awesome. The awesome part was that I followed my dream. If your dream is a Ferrari then you must follow it. If you have no wife and no kids, then it is an excellent time to get exactly what you want. Even if you find out later that your dream wasn't all it was cracked up to be, you have to at least try to follow the dream. Good luck, because it is a hard and expensive decision. The Ferrari is a sweet car, so it should be sweet either way. These are the hard decisions that we would all love to have. :drunken:
 

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Jim,
I would keep the Z and drive the hell out of it for a few more years and enjoy the awesome power from your latest mods. Then if you still want the prancing horse, go for it!
I would love to have a 360 CS, but its not in my "budget"
right now, so I'll just have to "suffer" with my 440 rwhp
ZO6! :D

Jimbo
 

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JIM, What are you thinking??????????????? You still owe 24 K on your vette. You don't even have the car back from modding yet and you are considering taking out a home equity loan to buy a car????????????? If you have to use the equity in your home to buy this car you can't afford it. I am assuming you are young, I am assuming you have very little real equity in your home, I am assuming the equity is based on the real estate booming prices in your area. Now if I am correct, YOU CANT AFFORD IT. I hope this makes some sense to you. Yuo financially should have 3 months of your total monthly salary put away in a savings account, you should be maximizing you 401 k each month, you should be maximizing out you IRA each year and you should be enjoying you life daily. IF THESE CONDITIONS ARE MET THEN I SAY DO WHAT EVER YOU WANT TO DO! If they are not met then you can bet that your life will be this fickle all the way through. Once you buy the ferrari you will then want to upgrade again real soon. I hope you make an informed decision and what ever you do, GOOD LUCK. Just some sound financial advice. I am sure if you go over to some other sites every answer will be get the car. Here in the z06 site you have more astute and financially set individuals. Not that most of us are OLD, I am only 33 and on my way to owning whatever car I feel like. ANOTHER 15 sound financial years away. :D GOOD LUCK JIM!!!!!!!! :z:
 

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The economy is going to change for tough times in the near future. Cash will be king so do not squander it. If it will make you happy do it!

If it were me I would get the car anyway and worry about sh^t later. :jammin:
 

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F355 is the sweetest Ferrari ever built IMO, but the Z06 is one of the sweetest cars ever built to date, and you have 640rwhp :jammin: I say keep the Z06, you already spent over $80k including the car and what you owe on it, selling now will put you back alot of money...

another think, If you had the F355 you would be thinking why have such an expensive car if I could have a cheaper car that flies, not putting down the F355, It is one of my favorite cars of all time, but a stock Z06 flies, and imagine your 640rwhp :jammin:

enjoy what you have, if you had that something else you desired, you will desire that one thing you have now, trust me, take it from experience, I have the Z06 I desired but after I always think "why did I spend so much money when I could of had that Mustang GT I had" :bang: , so now I would never give up my Z06 for something diffrent, maybe something better, but not diffrent, the F355 is not better then a Z06, its diffrent...

BTW, I dont like the 360 anywhere close to the F355, I say if you really want the Ferrari, wait the 5 years to save up and get a taken car of F355, it will be more rare then :jammin:
 
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