Scheduling a Ferrari Test Drive

Just sent Joe an email, we are going to schedule a test drive for tomorrow or Friday. As luck would have it I need to meet with one of our clients in the area. The red car may not be available to drive but they have a Maserati with F1 gear box to drive for comparison.
Had an interesting conversation with Scott Goldstien, a friend who is the chief investment officer at a local bank. We discussed the best way to finance the car. After a couple of false starts – essentially car loans or personal lines of credit we decided that given my situation a line of credit on the house would be the best option because I can write off the interest. That should result in an interest saving of almost 30% or between $3000 and $4000 for the year. I will include a complete break down of this financial structure when I get the details from Scott. I wonder if it is too risky to do an interest only loan for the first year do get an even greater write off? I will have to do the math.

A Visit to Gran Prix Imports

Sat in a nice 360 today at Gran Prix. Joe, the sales guy was very helpful. Even answering my question of how much will I lose if I drive this for a year then sell it with the glib but 100% honest answer of depends on how much I make on selling it to you. Gran Prix has two 360s a red one and a silver one that has been on their shop floor for several months. The red car has the f1 gear box, which I am interested in, the silver car has a six speed. I told Joe that I was interested in both cars and would like to drive them. He said to pick sunny day next week. Done.
I have also decided to take the additional step of putting my journal online. I have two very self serving reasons for doing so. First, I hope to get a couple of advertisers to defray some of the cost of this experiment. Second, I hope some car loving publisher reads the journal decides that it is an editing challenge they are up to and offers to help me publish it. I recognize the obvious conflict that exists if some of my sponsors also are some of the businesses I interact through this process. I don’t want to eliminate potential sponsors and am not yet sure how I will deal with this problem.

Description of the Models I am Considering

I have put together a brief description of the different models I am considering. We will start with the F355. Ferrari introduced the F355 in 1994 to replace the 348. Like the 348 the car is powered by a mid engine V8. The car was available as a Berlinetta (coupe), targa, and spider. In 1998 the F355 was made available with paddle shifters as the 355 F1. The F355 is one of the best selling Ferraris of all time with nearly 12,000 cars sold in the 5 years it was available. This is a good thing for me because it means there are lots to pick from and the price is more transparent than some of the models with lower production numbers.
The F355’s 213 cubic inch V8 develops 380 bhp at 8250 RPM and 268 lbs/ft of torque at 6000 RPM. Pretty amazing for a naturally aspirated motor to produce in excess of 100HP per liter.
The F355 is a wonderfully proportioned car. It is low, wide and the cockpit is positioned almost right in the middle of the car. I like the way the car blends in. If painted a quiet color you could overlook a 355. Now the problems. There is not a lot of room in the cockpit. The interior styling is dated. And, most importantly any major engine maintenance requires the removal of the motor. This alone is enough to keep the F355 near the bottom of my list.
The F360 was introduced in 1999 to replace the F355. The F360 is bigger than the F355 and looks it. Despite being bigger the newer Ferrari is stiffer and lighter than the F355. The F360 is certainly more curvaceous and the interior more spacious. Like the 355 the F360 is available in a number of models ranging from several versions of the coupe, sporty to track focused to race car, to spider.
Maintenance appears to be less of a concern with the 360 than the 355. Partially this is because it is a more modern car, second because there are fewer operations to the engine that require removal of the engine when compared to the 355. That said the 360 is still quite a bit more expensive.
The 360 is powered by a 3.6 liter V8 producing 395 hp at 8500 RPM and 275 lbs/ft of torque at 4750 RPM.
Like the last year of the 355 the 360 is available with a standard manual transmission or am F1 style paddle shifting manual. Aesthetically, the 360 is at the top of my list.
The 456 is quite a change for the 355 and 360. First the engine is in the wrong place, up front. Second it has four seats, and third it has four more cylinders. The 456 was built for a different purpose. The 355 and 360 are sports cars. The 456 is a GT.
Ferrari introduced the 456 in 1992 and at the time it was the second most powerful road car produced by the company, the F40 was number one. The car also heralded a shift from angular, hard edged lines to the smoother flowing lines that define the cars today.
The 456 is powered by a 5.5 liter V12. The name 456 comes from the displacement of each cylinder, 456cc.
Like the other cars I am considering the 456 was produced in a variety of models. Unlike the other cars there were a small number of 456 wagons produced!

Visit to a Ferrari Dealership

Dropped by the Ferrari dealership today on my way to pick up my new truck. Walked in the door and there were three F430s on the floor. Two spiders and one coupe. Wow. What great looking cars. After a few minutes of staring at them with my business partner, who gave me a ride to pick up the truck, I went over to talk with the sales guy. Nice thing about this dealership, they leave you alone until you ask for help.
“Do you have any 360s?” I asked.
“Coupe or spider?” Was the response.
“Coupe.”
“Not on the floor but we have a red one that just came in.”
“Is there any interior room difference between the 360 and 430?”
No, they are the same size and you will fit fine.
“Can I sit in the 430 coupe on the floor”
After a long look, “OK but it is a new car”
“I promise not to hurt it.”
The good news is I fit really well in a F430. For anyone reading this who is over 6’4” you have a chance. I did not need the seat all the way back and I felt that I had more leg room than in my 911. The bad news is I have now sat in a 430 and think I may be disappointed with the 360. Not that there is anything wrong with a 360 but the 430 has a knob on the steering wheel that can be dialed to”RACE”.
The interior of this car is absolutely stunning. Black leather with yellow piping and stitching, polished aluminum and carbon fiber. I feel like I am sitting in a space craft or something designed and executed by an intelligence not bound by traditional ideas of what is OK in a car. Weird stuff going on in Italy. Next great surprise. If you turn your head like you would if you were to back up you see the engine. There it is. To great big red intake covers that say FERRARI down the top. Really cool. After meditating in the car for a few minutes I realize that the 230K price is beyond my budget and that I should get out and reduce the salesman's stress.

I Took NO Action Towards Ownership Today

So no trip to the dealership this week – so far. I did buy a new truck and as it happens I bought it from Ron Tonkin and will be picking it up tomorrow, just down the street from Tonkin’s Ferrari dealership. I forgot about that until I wrote the above sentence. So, tomorrow I will stop by the dealership. I have done some internet research which I will summarize later that has led me to focus my search for 360s and 550s. Will find out more tomorrow.

Still Researching Ferraris

Did not accomplish much towards owning a Ferrari today. I had hoped to have a chance to research repair histories and estimated costs, but work got in the way. I did talk with my dad about the idea. Since he lives in Los Angles he is close to a large selection of cars. I don’t know if there will be a price differential between Portland and LA . I had assumed that ebay had created a national market for exotic cars but there may still be small local variances.
I have planned to visit the two dealerships in town that regularly have Ferraris. Ron Tonkin Gran Turismo bills itself as the oldest Ferrari dealership in America. They have a fantastic back room that has some wonderful cars in it and with luck I can talk a salesguy into a tour. I have a strong predisposition to buy the car from Tonkin due to their reputation and dealership status. Their cars do carry a premium, but this might not be a bad thing when buying a Ferrari. The other shop in town is Gran Prix Imports. Grand Prix is a great place for a car guy. Nice espresso maker. F1 car mounted on the wall. Yes on the wall, look up or you will miss it. I checked on line last night and they have two 360s and one 355 spider. This is good because I am unsure if I can fit in the 355 and would like to sit in one but bad because it is a spider.
I am preparing a list of questions to ask the dealer.
Here is my start.
How much should I budget for maintenance for one year of driving?
How much will you buy the car back from me for at the end of one year?
Do you know the history of this car?
Is service up to date on the car?
On another note my wife has tentatively agreed with my plan. I think the combination of “it is only for a year” and “you can drive it too” is what sold it. But, I know that we will be revisiting this decision at least a few more times. That is not a problem. I will revisit myself a few times too.

Researching Ferraris

My first step toward ownership will be to identify models that meet my requirements, which loosely stated, are relatively low cost of ownership and, maybe, back seats. This is going to be a fun step. Now I have justification for all the time I spend browsing on the internet. I am no longer browsing, I am doing research. Research is important. Research is valuable. I have set a goal of doing something each day that will get me closer to getting the car. The activities I view as valuable are research, finance, space creation, and lobbying the wife.
I have purposefully avoided setting a budget. Purchase price, while interesting is not important. Resale value after one year and maintenance risk over the year are much more important.
In a few minutes looking on ebay I decided to be flexible about the back seats. My gut tells me that the only cars that will fit are the F355, F360, and 456. I have ruled out the 308 and 512 TR because they are too iconic. I ruled out classic Ferraris due to the risk of catastrophic maintenance expense and because I plan on driving this car regularly and don’t think I could bring myself to do that to a classic Ferrari. I will revisit this decision but it seems sound as I write it. I ruled out the 348 because I don’t fit. I ruled out the F430 and 612 Scaglietti because they are too expensive for this experiment. I have yet to rule out the Mondial. I am not super interested Mondials but they possess several of the attributes I am looking for.
I want a coupe. My Porsche is a cabriolet (took me forever to spell that correctly) and I often wish that I had purchased a coupe. I plan on taking this car to the track and using it as an almost everyday driver so a spider seems impractical. Further, I think the lines of the coupe are prettier on the cars I have been looking at and the coupe is a bit less expensive. I am not so hung up on the color. Red is fine, so is green, or blue. Silver and black are not high on my list. Neither is yellow but the right car in any color will work.

My First Post

Introduction
I admit I have always wanted a Ferrari. Writing this book is a scheme to give me a reason to buy one. No reason to deny it. I also admit I have always wanted to write a book but never had the material, talent, or discipline to develop a plot beyond a few pages. Buying a Ferrari gives me something to write about, writing gives me a reason to buy a Ferrari. Perfect, self-serving and probably unreadable, but time will tell.
In buying a Ferrari I have motives above and beyond getting a fantastic car. I want to understand why I want a Ferrari. I want to understand if ownership equates with my vision of ownership. I want to catalogue the things that make a Ferrari a Ferrari.
On a less philosophical note I want to take the car to a track and drive it. Fast. I want to take a Ferrari fly fishing. I want to drop my kids off at school in a Ferrari. I want to find out if after a year in Maranello’s finest I will be happy in my Toyota.
I don’t think my plan is motivated by mid life crisis. I have thought about this quite a bit and I don’t believe that my life will change in any meaningful way by owning this car. I am not sure I would like it if my life was changed by driving a car. I do believe the act of committing to buying the car and writing the book will change me but that has little to do with the car and more to do with making a commitment and doing something outside my comfort zone.
Now a bit of disclosure, I have never driven a Ferrari. I have ridden in one but never had the chance to drive one. I am not sure which model I want. I might not like them when I eventually get to drive one. That would make a pretty short book. I am pretty sure I don’t want a Testarossa or a 308, but I am not sure the model matters too much. I don’t want a particular thing I want an experience that I associate with the thing and I think that experience can be delivered by a Ferrari that is Ferrari enough.
Another bit of disclosure, I set out to buy a Ferrari about two years ago but ended up with an older Porsche instead. At that time I had different goals with the car; something fun to tool around in and a reward for meeting some goals at work. This time I am sticking to my guns. I can promise you that you will not get to page 25 in this manuscript and learn that I just bought a Maserati.
There are a couple of problems to work out first.
1. I have to convince my wife that this is a good idea.
2. I don’t have any place to park it.
3. I have a limited budget and cannot afford to lose a bundle on the car or spend a bundle on maintenance.
4. I have three kids and if I am going to get to drive the car will need somewhere to put the two of them I drop off at school.
So where to start? I will ignore problem of getting my wife to buy in and finding space for a few weeks. I think I can solve the parking problem and I would like a bit more time to refine my ideas before pitching Barb. Most reasonable folks would sell the 911 to partially fund the purchase of the Ferrari and open up a space in the garage. Killing one and a quarter birds with one stone, but Barb has become attached to the Porsche so it stays. I will have to come up with a more creative method for financing this purchase. If I could make up a plot, fabricate my daily life with the car, and manufacture a coherent metaphysical debate regarding the attributes that make a Ferrari unique, I could write the book first, make a fortune then buy the car. Fortunately I am not that duplicitous and as I mentioned earlier can’t come up with a believable plot so I have to buy the car, write the book, and hope to not lose too much money.