22nd Sep 2012, 00:51
You can have all your money tied up in a used car monthly payment, and live in low cost housing, I hate to say. I know a guy that cashed in his 401k and lives in a tiny house with a car worth more. You can't go by what someone drives and say they are affluent. I own a couple rare domestics that have greatly appreciated over a long time, as an average individual. I could flip and drive right next to you. I just enjoy, rather than dwell on money.
21st Sep 2012, 10:48
People avoid using them to protect the resale values. Simple as that.
I agree that Ferraris can take the miles, if you are prepared to keep the maintenance up. They are like any other machine, and they actually deteriorate with disuse.
I drove a 130,000 mile, but meticulously maintained 550 Maranello a couple of years ago, and to be honest it drove like new. But it was worth half what a typical 20-25,000 miler would be. That's a big hit to take if you bought it new, or even at a couple of years old. 130,000 very expensive miles.