CHRIS HARRIS ON CARS - (his) Ferrari FF
Posted Dec 24, 2014, 7:37 PM UTC
921
Can't go without a week of Chris Harris here, huh?
5
Nope, this place can't stop blowing the dude.
7
Ha! I notice he didn't talk about the dismal satnav. It is the same Uconnect unit I had in my VW Routan - or featured in countless Chrysler products. Absolute rubbish.
Amazing car otherwise.
3
Haha, max speed 123 mph when he showed the information page. What a lovely car.
2
This guy confuses me. His older original video of the FF he absolutely loved it; couldn't be better. The new version of the FF he goes on about how they've fixed all the major problems in the old FF. Now he's buying the old FF?
-1
Did you miss the part that he had to wait for an older model to finance? He can't afford a new one.
3
I get that. It's just the comments on how the old FF had so many issues that the new one fixed. I think what he says is paid for but the context of what's happening is something else completely from him. Very confusing.
-1
I thought people didn't finance such cars like these...
-2
the people that say that 99% surely cannot afford cars like this. saying "oh bro that isn't something you finance, you walk in with a duffel bag full of cash."
If you had 300k cash sitting in a bank account, you could have that money in low-risk investments, using it to pay the 3k a month or however much you're paying, while also earning you interest, or other types of capital gains.
Instantly paying the dealer 300k thru wire transfer, well now you just have a 300k car that depreciated probably 50k when you drove off the lot and will continue to do so. Not that paying it off monthly makes it in any way "free", it might save someone quite a bit.
7
What percentage do you suppose one puts down on something like this? And what kind of interest rate would one get on a super car? Would the depreciation on $300k supercar over time be greater than the interest rate on $300k - downpayment (Y) + depreciation - possible capital gains with Y?
2
To be frank if you only have 300k cash (say no other investments) you shouldn't and technically can't afford a Ferrari.
1
Chris Harris is not a rich man. He was talking about this on Joe Rogan's podcast the other day. He buys cars he can barely afford because he loves cars more than anything. He's got like a dozen or so cars and most of them are worth like $2000 or their weight in scrap metal. When he bought his first Ferrari he had to beg banks to give him a loan and (figuratively) sell his organs to make the down payment, and the monthly loan payment was huge, over 1000 pounds a month.
3
I wonder if it writes it off as a business expense.
2
He should take advice from r/personalfinance and know his limits on what he can afford.
1
Pretty sure that was his findings on the California, not the FF.
3
Hmm you're probably right. Would make it far less confusing.
0
My '04 GMC Yukon XL came with the same headphones minus the Ferrari logo.