Why are exotic cars rarely driven?

Discussion in 'Archived Threads 2001-2004' started by Troy LaMont, Jan 31, 2002.

  1. Troy LaMont

    Troy LaMont Supporting Actor

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    Whilst perusing the used inventory of some exotic car dealerships (Ferrari, Lamborghini, Lotus, Porsche) I noticed that about 99% of the cars had relatively low miles!
    Now, I've never owned an exotic car and all and I'm quite sure I don't understand the intricacies of owning a $150,000 + automobile, but COME ON!!!!
    I'd be driving that thing until the wheels fell off! Showing it off at every chance I got. [​IMG]
    Maybe that's just my 'not-grown-up' side talking or maybe my 'no-class-or-respect-for-exotic-cars' side. [​IMG]
    Who knows.
    But I know I'd at least put in 10,000k a year, minimum.
    Troy
     
  2. MickeS

    MickeS Producer

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    Because the people that own them either

    A) work/travel too much to have time to drive for fun

    B) only bought it because they could, not because they are interested in driving

    C) get a company car anyway + alternative A)

    or D) are too worried about getting scratches, dents and wear & tear on the car

    would be my guess.

    /mike
     
  3. Kevin P

    Kevin P Screenwriter

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    Exotic cars are high maintenance and the wear and depreciation on them would kill the investment.
    Also, who wants a high mileage, dull, scratched, worn Lamborghini anyway? [​IMG] Heck, exotic cars are more for show anyway, and that's probably what they do with them. Keep them in top condition and show them at car shows.
    KJP
     
  4. KyleS

    KyleS Screenwriter

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    One additional point not mentioned above is the insurance on them. Most insurance companies rate those cars as investment or high performance so they are limited to something like 7K miles per year or the rates go through the roof (but heck if you can afford one then why not pay the extra insurance). The point I think really has the most validity behind it is the devalue of the car due to miles, scratches, dents, etc.

    KyleS
     
  5. AjayM

    AjayM Screenwriter

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    I think it's mostly the time constraints and cost per mile. Figure a 30,000 mile service on a 12cyl Ferrari is running around $5000-6000, a 15,000 mile service would run you around $2000-3000 or so you can see where the cost starts to add up by just driving the car around. That really only applies to the people that kind of stretch to purchase a car like that, people who save the money are still above average with income levels, etc.

    Now the really rich people who don't bat an eye dropping big $$$$ on a car will fall into basically two groups. Enthusiasts and the people who buy the car for the name. The enthusiasts will drive the car every chance they get, but with time constraints that can sometimes be very little. The poser guy who buys the car for the name or thinking it's some type of investment (only a couple Ferrari models have never lost money), these guys don't want to drive them because they think it will de-value the car in some way and don't have any "real" interest in the car. The kicker is that there are more people who will buy a driven car (not high miles, but one that has been driven semi-regularly) than a garage queen.

     
  6. Dennis Nicholls

    Dennis Nicholls Lead Actor

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    Around here these cars are fairly common and are "daily drivers". Not at all unusual to see more than one prancing horse of maranello in a company parking lot along with all the pickup trucks.
     
  7. Scott Hayes

    Scott Hayes Second Unit

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    Alot of the reason is that many people buy them as investments. The other reason is the cost of maintanace. I worked at a garage and a friend of the owner brought in a 2 seater gullwing door mercedes for an oil change. The oil filter ran close to 100$. Cant imagine having to tune the thing up or have any kind of motor work done. I hear the reasoning that if you can afford the car you can afford the maintanace but the rich dont get rich by throwing money around frivolously. Who wants to drive a car around that will cost thousands in maintance every year if driven daily? If I had one it would be a Sunday afternoon fun car and thats it.
     
  8. PatrickM

    PatrickM Screenwriter

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    I talked my boss into getting a Ferrari 360 Modena and he drives it quite a bit but not like a daily cruiser. For the most part he never parks it anywhere so if you have to stop for extended periods of time he takes his other cars. The fear of someone scratching it or denting it is high. The maintenance plays a little bit into it but not much. I think he told me a LOAF (lube, oil and filter) costs something like $500 as opposed to $35 for my Honda Accord.

    Patrick
     
  9. AjayM

    AjayM Screenwriter

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    Well, along with the maintance type stuff is that these cars aren't what you would call bullet-proof like your everyday Japanese car is. Start driving a Ferrari around every day, driving it reasonably hard and you'll be spending big bucks on upkeep, as well as the stuff that breaks on the car. Ferrari only gives you a 2yr bumper to bumper warranty, after that and you are paying premium prices when things break.

    Oh and the oil changes really are around that expensive at the dealer using the Ferrari recommended oil (which is some outrageous price per quart).

     
  10. John Miles

    John Miles Stunt Coordinator

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    Ajay has it exactly right -- these cars are the worst "investments" imaginable. I have put almost 50,000 miles on two different 308GTBs (my first was a '77, and I'm now in a '76 fiberglass car), and my biggest expenses have always been upgrades, rather than maintenance. [​IMG] New exhaust, new ignition system, new paint/leather, upgraded wheels, a redesigned A/C system that actually works.... these cars are great at relieving their owners of excess cash!
    Regular maintenance costs aren't that bad, really. The worst part isn't the monetary price you pay, but the challenge of finding competent service people to work on your car. Mechanics who are qualified to tweak a set of four Weber carbs are few and far between. IMHO, the older cars really should be owned only by people who enjoy doing most types of maintenance/repair work themselves. I'm still on the learning curve myself, with only a few oil changes, ignition system mods, and a partial carburetor rebuild under my belt.
    The other issue is the fact that these cars aren't much fun in everyday traffic around (for instance) the Seattle area. I used to drive my car quite a few more miles per month in Austin than I do here on the Seattle eastside. I suspect you would see a lot more people driving Ferraris around here if we didn't have 23-hour-a-day traffic jams and stoplights at every block.
     
  11. Dennis Nicholls

    Dennis Nicholls Lead Actor

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    Actually the only reason I would own one of these is for the pleasure of tinkering with the mechanicals. The ones with Webers are almost impossible to smog in CA so I'll pass on those. Cheaper collectables allow you to at least get your money back out when you are done with them. I got an Austin-Healey, restored it, drove it for 10 years, and got my money back out. Same with a Westfield Lotus 7 replica - I put it together, drove it for 5 years, then sold it for what I had in it. Maybe when I retire and have more time I'll get a mid-1980's 308 or 328 and play with it. But I can't see the fun of letting someone else work on your toy....
     
  12. Aurel Savin

    Aurel Savin Supporting Actor

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    I have a client who has a classic/exotic used car dealership (i work on his website www.goudsclassics.com) and he definetelly makes money selling these cars.
    But here in NY, the main reason of really few exotics on the road ... is exactly that .. the "road". NY has the worst roads going.
    Have you ever bottomed out in a Ferrari? I have once with a friend and a bottoming out with a Ferrari is not the same as a Buick .. the whole undercarriage was in bad shape.
    And this was a test drive [​IMG]
     
  13. PatrickM

    PatrickM Screenwriter

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  14. Mark C Sherman

    Mark C Sherman Second Unit

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    the People who Own these cars and never drive them are the same people who buy Bottles of wine and NEVER Drink them.[​IMG]
    You all mention Ferrari's and the up keep.
    How about a McLaren F1 a tune up will set you back $35 grand and if you need a new Muffler a new on is just $17,500.00 each, not bad for a car the Costs $1,500,000.00[​IMG]
    I'll stick with my 2000 VW Jetta VR6
    Later
     

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