[quote author="bltserv" date=1252012842][quote author="C Delroy Spuckler" date=1251896332][quote author="bltserv" date=1251892205]Its an older 360. He has had it for about 4 years now.
If you cant afford one of these cars outright and pay cash when you buy.
You got no business owning one.
It will get repossessed soon enough. Once you get past 120 days. I dont care how good you are.
The Repo Man will get it out of your garage while you are in the shower.
Its all about making a buck. And a repo like this is worth some cash.</blockquote>
Article says it was a 1989 Ferrari. They didn't make the 360 until 1999. Maybe the article is off by a decade. If its '89, you are talking a 348 or 328. (low end Ferrari line went 328->348->355->360) I'll give you credit though that you can tell a 360 from a 328
Either way, my hats off to the Mercedes dealer who drives the Ferrari.
Honestly, I would have pegged Simon as more the Testarossa or 348 Spyder guy.
A lot of exotic owners don't buy their cars outright. I can name at least one former high end OC car dealership where they were doing a fair amount of leases. The exotic business has changed a ton since the internet bubble. Clients used to be athletes, musicians, and investment bankers. dotcom made young people rich... additionally it changed their driver profile... these guy wanted to (**gasp**) actually drive their exotics (exotic reliability has gone up dramatically since 1999... Porsche was actually was highest rated a few years back for initial quality/satisfcation... ahead of Lexus and all). Younger owners, means people willing to stretch themselves a bit more.
Anyways, I digress...
Let's say he bought a '99 360 4 years ago. '99 was the first year 360... not something overly desirable in a used exotic. Even though they keep the same model designation, they typically upgrade its specs every 2-4 years... the first year models are typically POS and have mechanical issues. First year production models are hot cars, so the allocation goes to loyal customers, guys who flip their cars every 2 years. If he bought it 5-6 years old, he's the 3rd owner. Buying in 2005, the 430 is already announced and/or out... so he's buying the "old model"... probably paid $150-$170k for it.
Point being... while you might see "Ferrari", on the pecking order, if he's buying a first year 360 in 2005... he's buying a less desirable used car... he's making this choice probably because he got a good deal (AKA price was important).
Doesn't surprise me he financed it.
Delroy</blockquote>
Turns out Simon owns a 1989 Mondial. It was originally red then he had it pianted black. And from what my friend says. When they painted it black they did a really poor job.
He was driving a leased E-classs as well as a GL for the Mrs. and the kids
All those bills and little if any income coming in. No Bueno.
Adios Ferrari.</blockquote>
Seriously... who do these people think they are? He was a CAR SALESMAN.... and he has three cars all over $60k? I know juniors in high school with better financial management skills than this.
(disclaimer. I have nothing against car salesman, but unless you're the Jon McGonigle of car sales. oh wait...)
