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2018 Tiguan, 2012 X5 35d, 2012 Golf 2.5
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Wow, I don’t think I’ve ever seen a TCLer pick up a brand new Ferrari in my 11 years on here.

I’ve only been lucky enough to drive an F430, and I’m still wanting to get one even if they’re about 14 years old these days lol.

Congratulations friend, may it treat you well and give you many years of happy motoring. I’d also love to know what the hell you do for a living lol
 

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8,932 Posts
HHHnnnnnggg!

You win sir!
 

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Thanks for sharing your experience and giving us a front-row seat.

One of my favorite features is the "Personalization Specifications" plaque in the frunk. Nice to see a reminder of what makes THIS car unique every time you raise the hood.

Wishing you many happy, safe miles.
 

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CarTruck, Wagon, HellKidHauler
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We demand sound clips?

There is some lucky SOB at my kids school, every friday the dad is picking him up in a F8.
 

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You can sleep in a car. You can't race a house.
Oh, just wait until some of you younger dudes (not necessarily Professor Gascan) end up having a couple of kids and a working spouse. Wait until the $3,000/month+ daycare/nanny/childcare/preschool bills start rolling in.

You'll be paying for a Ferrari without a house OR a car to show for it.
 

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Will it fit a forward-facing carseat? does it have LATCH?
Also curious about LATCH. Wasn't it required on all passenger cars after 2002? I know some of the HD trucks get away with not having it. (2010 Super Duty for instance) - Because they aren't classified the same as half ton trucks and regular cars. So I'd be curious if a Ferrari has them.
 

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Oh, just wait until some of you younger dudes (not necessarily Professor Gascan) end up having a couple of kids and a working spouse. Wait until the $3,000/month+ daycare/nanny/childcare/preschool bills start rolling in.

You'll be paying for a Ferrari without a house OR a car to show for it.
The baller move is paying for all that AND a Ferrari.
 

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Oh, just wait until some of you younger dudes (not necessarily Professor Gascan) end up having a couple of kids and a working spouse. Wait until the $3,000/month+ daycare/nanny/childcare/preschool bills start rolling in.

You'll be paying for a Ferrari without a house OR a car to show for it.
My youngest is 4. This is her last year of preschool and the $1200/mo bill for it.

Next year that same $1200/mo goes into the college funds 😬😢
 

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So back to the car.

I get that you didn't purchase it new. But did it come with anything cool?

-Are the owners manuals in nice packaging?
-Is there a provided maintenance schedule, which is presumably laughable if it exists?
-Did you get any fine leather goods with purchase?
-What does the current Ferrari key look like, and how many keys did you get?
-Any other Ferrari swag that came with purchase?
-Has a small man, and larger fatter man, both with NJ/NY style italian accents visited you yet providing specific instructions on how to use and care for your Ferrari?
 

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2020 718 Cayman GT4 (Miami Blue)
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Oh, just wait until some of you younger dudes (not necessarily Professor Gascan) end up having a couple of kids and a working spouse. Wait until the $3,000/month+ daycare/nanny/childcare/preschool bills start rolling in.

You'll be paying for a Ferrari without a house OR a car to show for it.
I like to think of my car as my child. That way the $$ I pay for it doesn't seem so bad
 

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When you are buying $250k+ cars forming a LLC or a Trust to hold the car makes a lot more sense. It also gives you the ability to make the car a depreciable asset and write off certain costs as expenses. Provided you fund the LLC or Trust properly.

I have my cars in Trusts for legal and privacy reasons. I was in spitting distance of putting my 2020 Ram into a LLC to use exclusively for business like I do with my Motorhome.
Boy you like playing with fire lol. You better have a super tight business and be able to easily justify the expenses against income to do what you’re proposing.

The biggest thing people do here is register them out of state to avoid the tax and fees. But CA has been cracking down on it, and if you get caught with an out of state car in your name but a CA drivers license, it’s gonna get ugly. Montana plates, you’re just asking for it from the CHP.

I don’t know about you guys, but I’m happy not getting any extra attention from the IRS or FTB.
 

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Boy you like playing with fire lol. You better have a super tight business and be able to easily justify the expenses against income to do what you’re proposing.

The biggest thing people do here is register them out of state to avoid the tax and fees. But CA has been cracking down on it, and if you get caught with an out of state car in your name but a CA drivers license, it’s gonna get ugly. Montana plates, you’re just asking for it from the CHP.

I don’t know about you guys, but I’m happy not getting any extra attention from the IRS or FTB.
I have set up a few out-of-state LLCs for clients' cars. In fact, you might notice that a prominent exotic car rental company in Las Vegas uses Alaska license plates on its cars . . .

But the bottom line is that:

1) As I stated above, trusts and LLCs have little-to-nothing to do with being able to depreciate your car (although any successful business person should have a trust/llc arrangement for other purposes; and

2) the out-of-state registration scheme really only makes sense if you are constantly buying and selling cars, and even then, it's generally used to avoid SALES tax, not registration fees (although in NV, where I live, because registration fees are 2% of the value of the car, per year, it can be used to try to avoid registration fees).
 

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A Subaru, Ford, and a Hybrid
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Bee-yoo-tee-full F8 Toaster. Congratulations! It's stunning 💗
 
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