Bad Idea #144: 12 Year Auto Loans

[G.Irish]

waitlists for ferraris are such that a lightly used one is worth more than msrp for a new one. I met a rich guy who would buy a F4whatever, immidately get on the waitlist for another one, sell the first one for more than he paid for it once the 2nd one came in. rinse/repeat.
If you dont want your cash tied up in that, these loans would fit the bill.

Yeah I feel like there are quite a few people in that market doing that now, even dealerships. The one thing I don't have a good read on is how much these new F cars are selling for. Seems like some people are loading em up with $80k of options. At that level I would think it'd be hard to resell for a profit. But, from what I've read, sometimes Ferrari NA is pushing a bunch of options on the buyer, otherwise they may give the allocation to someone else. Don't know if that's the case for the 'regular' 458/488 but I saw people say that about buying Speciales.

G, how are you not doing this? A few of us max out home improvement lines of credit (mine is like 2% or something ridiculous), you buy stupercar #1, waitlist the next, we make a few bucks off your nonsense and get rights to pee on whatever car you have at the moment, you get fresh car for winning the Trader Joe's parking lot. Also can I borrow your car.

Well to start we're looking at a bigger house in the next year or so, so no go on supercar purchase there. Secondly, I don't think I could convince wifey to sign on to a crazy idea like that.

The other thing is, how do you get on the list for some of these cars? For Ferrari priority is given to owners with a history so off the bat that'd be tough. Maybe it would be a bit easier to get in on one of the rare Porsches like a GT3RS or whatever that mid-engined Flat-8 project is gonna be. But I imagine I'd have to put down a deposit well before the car is even announced. The idea of flipping is intriguing though, might have to do some more research.