I test drove a car I can’t afford and now everyone is saying I should buy it. What should I do?

"notsomethingstructural" (notsomethingstructural) 12/26/2019 at 11:21 • Filed to: None

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This can’t be good.

I didn’t lie to anyone in this process, including the dealer who has it on consignment, my girlfriend, and myself. I can’t afford this car right now. Earliest? After I get my bonuses and see my tax liability for 2019, which will probably suck up my bonuses and leave me with enough to buy a few legos. More realistically? When I sell my house I’ll be flush, but that’s 6-8 months from now - at the earliest.

But however ill-fated, even if it was just to see if someone 6’-5” with size 14 feet could physically drive a 6 speed Maserati (they can! in sneakers because I forgot my driving shoes!) this isn’t a car you test drive and not-tell people about. The response especially upon hearing the asking price has been very uniformly: buy it. When I go through my finance stuff, the response is “well, it sounds like most of the money should be there eventually, so that’s no excuse to not- buy it.” After we chat about other car and holiday stuff, they’re sure to remind me: go back and buy it.

I mean, like, I could maybe afford it. I can probably afford it. I just checked my bank account, and actually, I definitely can not afford it.

What do I do?

RallyWrench > notsomethingstructural 12/26/2019 at 11:59

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Absolutely DO NOT buy that car. Worked on a couple, they’re garbage. Nothing more than a pretty engine wrapped in a nightmare. 

CB > notsomethingstructural 12/26/2019 at 11:59

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Don’t buy it. It’s your money at the end of the day. Yeah, it’s great if you enjoy stuff and can afford it eventually, but purchases can’t be made on “ eventually”. Buy it when you actually can afford it.

Spanfeller is a twat > notsomethingstructural 12/26/2019 at 12:00

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i looked up how much they sell for in Autotrader; you might be able to get a better newer car for that much money

Long_Voyager94 > notsomethingstructural 12/26/2019 at 12:00

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Simple answer: If you can’t afford it, you don’t buy it.

American answer: Finance.

boredalways > notsomethingstructural 12/26/2019 at 12:01

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Wait. Besides not only will there be others to choose from when the time is right, but everyone that's telling you to buy it will forget about it by next weekend.

SPAMBot - Horse Doctor > notsomethingstructural 12/26/2019 at 12:08

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An older Italian car is not something to buy on a whim and certainly not something to buy when you do not have the money. Pass for now and buy it from it's next owner when they are dumping it due to a $5000 repair.

Future next gen S2000 owner > notsomethingstructural 12/26/2019 at 12:08

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Your money, your decision.

So.....do you need a ride to go pick it up?

dtg11 - is probably on an adventure with Clifford > notsomethingstructural 12/26/2019 at 12:08

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Wait. There will always be more out there, so in 6-8 months once you’ve sold your house, then start searching for one.

I like cars: Jim Spanfeller is one ugly motherfucker > notsomethingstructural 12/26/2019 at 12:11

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Just... don’t buy it?

fintail > notsomethingstructural 12/26/2019 at 12:11

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The purchase price is just the first payment.  Tread with caution.

notsomethingstructural > RallyWrench 12/26/2019 at 12:11

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Really? The owners seem to think they’re fairly pleasant and low maintenance for a car of that stature. Lower electronics failure rates than high end BMW’s and less on maintenance than Ferrari’s because the engines up front. Just the sticky interior  buttons which isn’t exactly a secret.

notsomethingstructural > CB 12/26/2019 at 12:12

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You people are too practical

Wobbles the Mind > notsomethingstructural 12/26/2019 at 12:12

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As someone publicly obsessed with Maserati and saving up for one... wait it out until you can pay cash for a used one . They are only going to get cheaper. N o matter how good the dealer price looks, the actual value you would get for the car will be about 2 0% less than what you’re going to end up paying (that’s not even including gap insurance, dealer fees, financing fee, registration, delivery, and so forth) . Between the insurance increase and upkeep you’re going to need to set aside another $3,0 00 a year probably . Plus, you really want a 2005 or 2006 GranSport because they are as close to reliable as you can get for ALL 2000s Maseratis.

notsomethingstructural > Spanfeller is a twat 12/26/2019 at 12:13

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I’ll take a 15 year old Maserati over a new BRZ totally independent of what the numbers could possibly  say.

notsomethingstructural > SPAMBot - Horse Doctor 12/26/2019 at 12:15

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This is actually a really  good point, I wouldn’t have the $3500-5000 just-in-case repair fund laying around until I sell the house independent of anything else that could happen. 

CalzoneGolem > notsomethingstructural 12/26/2019 at 12:15

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I feel like you should not buy this car and not take financial advice from the people telling you to buy it.

CB > notsomethingstructural 12/26/2019 at 12:15

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I’m also the guy who took seven years to buy my first car, so...

Spanfeller is a twat > notsomethingstructural 12/26/2019 at 12:18

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Ive driven it’s newer brother and trust me; its only the engine; everything else sucks.

At least its a manual one 

notsomethingstructural > fintail 12/26/2019 at 12:18

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Yeah, taking two steps back, that’s the part I’m losing sight of while I’m busy  getting swept up in the moment

TorqueToYield > notsomethingstructural 12/26/2019 at 12:20

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this is oppo. if you asked about a $500 civic on a salvage title that you were then going to fix with scrap metal,   a welder made from salvaged car batteries , and epoxy everybody would be on board.

A used Maserati? meh .

M.T. Blake > notsomethingstructural 12/26/2019 at 12:23

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If you question affordability - you can’t afford it. Never extend yourself into the realm of bankruptcy for a car. Never. Ever. 

Neil drives a beetle and a fancy beetle > notsomethingstructural 12/26/2019 at 12:24

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I would love to drive one of those and on paper and from the research I’ve done; they seem to be a better ownership experience than most give credit for and the 6 speeds may at some point gain a real following for their unique set of characteristics. Small, V8, Italian; what’s not to like?

All of that said, don’t buy something you can’t afford.

Also, there is another one of these that has been on sale for over a year(I posted about it recently), so don’t automatically assume it’s going to sell before you feel comfortable buying It .

But if you do ever buy it; post about it often.

ITA97, now with more Jag @ opposite-lock.com > notsomethingstructural 12/26/2019 at 12:28

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The purchase price of that car is merely the down payment on the ownership experience.  I've looked hard at those, and even from the perspective of someone who has turned wrenches for a living in the past I couldn't afford to keep one running.  I've talked at length with the exotic wrench turner who was my mechanical mentor.  He summed these cars up best with "my shop just bought a $40K computer that speaks the correct dialect of late-model Italian to work on these cars.". The real problem is that you can't get very far turning wrenches on these cars before something has to be coded or calibrated, and anyone who has the diagnostic equipment to do that is going to charge you accordingly.  These are cars to buy if you budget $5-6k a year for maintenance and upkeep per year, assuming a year when nothing particularly bad happens and you have alternate transportation for the much of the time you'll need it.

notsomethingstructural > Wobbles the Mind 12/26/2019 at 12:32

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Ok so this is a local independent dealer it’s not a Maserati dealership, and it’s on consignment and it’s priced to move. It’s a good asking price if it passed the PPI - not amazing, but it’s also listed as “negotiable” because he wants it to go so he can get the wheels in motion on his own trade + cash. Been listed for 4-6 months, so I gotta think he’s up for a deal given he’s already waited AND has irons in other fires.

If the house is sold I would pay all- cash. If it’s not sold I would still either do cash or finance like 30% tops just to keep a little more liquid until the house is sold. The bigger issue is I don’t have a concrete timeline on selling the house, but I’m more and more inclined to list it sooner and do a holdover so I could stay in my unit (it’s a 2 family and I think the market is more likely to drop than continue to rise). Still thinking through that.

The issue with the GranSports is they only came in Cambiocorsa and everyone says to stay way the fuck away from those...  clutch life is like 20-30k and is about $4k to replace at a dealer. The row-your-own 6 speeds don’t have either of these issues.

SPAMBot - Horse Doctor > notsomethingstructural 12/26/2019 at 12:33

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I do not know much about the coupes, but even with the GS and GT’s being someone stout, they still have the occasional 4 figure  issue. A well stocked maintenance fund and a lot of patience   is key to enjoying one of these cars.

notsomethingstructural > Spanfeller is a twat 12/26/2019 at 12:34

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You drove a GranSport or a Gran Turismo? I’ve heard the GT’s have more build issues. I don’t see those complaints about the 4200’s and GS’s. 

notsomethingstructural > TorqueToYield 12/26/2019 at 12:35

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This is neither brown nor a wagon but at least it’s manual

Stef Schrader > notsomethingstructural 12/26/2019 at 12:35

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Wait until you can buy it, then buy it.

(Unless other people who are saying “buy it” are also volunteering to chip in the difference in the meantime , that is. If they’re not willing to put their money where their mouth is, their opinion doesn’t matter. )

notsomethingstructural > M.T. Blake 12/26/2019 at 12:37

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I’m nowhere close to that (with or without the car) because I’ve got 6 figures in equity in my house. Got in at the right place at the right time on real estate. But this is extremely good advice people should remember well. 

notsomethingstructural > Neil drives a beetle and a fancy beetle 12/26/2019 at 12:40

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I’ve never driven an all-motor 390hp V8 and man it is nothing like a supercharged I6 or turbo rotary or anything else. You say go, it says how fast, and then goes 20% faster anyways. I do think this is the time to get one of these based on how absurdly expensive 996 turbo and DB7 in manual have gotten. The DB7 have gone from 30k to 60k+ in 2-3 years. 

notsomethingstructural > ITA97, now with more Jag @ opposite-lock.com 12/26/2019 at 12:53

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The advice I’ve seen is budget $1k-$1500 a year in routine maintenance and keep $3-5k on the side “just in case”. This will be a second, weekend-only car for me. I’ll wrench on my own cars from time to time, but a Maserati would never fall within that context for me.

notsomethingstructural > Stef Schrader 12/26/2019 at 12:55

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That’s it, I’m taking the Dakar back to Southebys

ITA97, now with more Jag @ opposite-lock.com > notsomethingstructural 12/26/2019 at 13:05

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$1K year would be the most reliable Italian exotic in history. That might cover the annual service on year when not more than fluid changes and an inspection are due, but that budget will be blown up the first time a light on the dash comes on, it doesn’t start or makes some interesting noise or smell. When I looked at these, I pretty quickly figured  out I couldn’t keep one running on that budget even doing the wrench turning myself and only having to pay for parts and access to diagnostic equipment.

I like the sex appeal of these cars, but the problem is that they’re Italian exotic (lack of) reliability, Italian exotic parts prices and (lack of) availability, Italian exotic running costs, but with Honda Civic resale value and rental car spec Mustang performance. They do make nice nosies, and the leather sure does smell nice, though.

Dr. Zoidberg - RIP Oppo > notsomethingstructural 12/26/2019 at 13:16

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That’s a budget more consistent with owning my Lexus, not this thing.

M.T. Blake > notsomethingstructural 12/26/2019 at 13:22

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Good! Pay off the house and imagine how much you can spend each month on a car!

RallyWrench > notsomethingstructural 12/26/2019 at 13:31

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The owners would say that about a car they’re trying to sell. ;) Newer h igh end BMWs aren’t great either , but that’s a poor comparison because they’ll at least usually do 100k miles pretty well before attempting to murder a bank account, and nobody does that with these things. In fact when I first drove one of these, a spyder belonging to a very good client, one of my first thoughts was that it didn’t even stack up against an E39 M5.   And “less maintenance than a Ferrari” is relative , because they’re still a pain in the ass to work on. Ferraris can justify being a pain in the ass because they’re so good. These sort of... aren’t, but have all the same drawbacks.

In any case, if you know you can’t afford it, and a professional with firs thand experience (who couldn’t afford it either, even doing all the work himself) is telling you not to buy it, there’s only one good answer. I fantasize about buying all kinds of cars I can’t afford, as I’m sure most of us do. Let this be nothing more than that. 

Dr. Zoidberg - RIP Oppo > notsomethingstructural 12/26/2019 at 13:35

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But how does an appreciating , safe, good investment like real estate remotely compare to a depreciating, bad, in your own words unaffordable, liability like a used Maserati? It does not.

Not to mention 6-figures in equity offers no freed up cash to blow on a car as we speak . It’s merely value locked into a single asset until sold . So bottom line is you still can’t afford it right now.

Spanfeller is a twat > notsomethingstructural 12/26/2019 at 13:37

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A Grand Turismo and a Quattroporte

But I feel the same about both and so do mainstream journos ; so... really I don’t think Maserati as a brand has done anything useful for decades.

RallyWrench > Dr. Zoidberg - RIP Oppo 12/26/2019 at 13:43

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This, exactly. 

notsomethingstructural > Dr. Zoidberg - RIP Oppo 12/26/2019 at 13:59

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You also drive the Lexus 6-8x more miles than people drive maseratis, so the cost to own is literally  12% of a Maserati.

Dr. Zoidberg - RIP Oppo > notsomethingstructural 12/26/2019 at 14:10

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I only drive 3k miles a year :/

notsomethingstructural > Dr. Zoidberg - RIP Oppo 12/26/2019 at 14:14

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It doesn’t, it was just to say whether I buy the car, don’t buy the car, I’m not about to end up living out of a Maserati. And you can get loans on equity in a house for pretty low rates, I wouldn’t call it liquid but it’s not as fixed of an asset class  as you make it sound either

Thisismydisplayname > notsomethingstructural 12/26/2019 at 14:17

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Stef’s got the right idea. Don’t buy into the hype and strap yourself with a boat anchor you can’t afford. Wait till the timing is right then do it. If it’s still available, then they will be willing to deal a bit more, and if it isn’t, then something else will be.

I’ve made that mistake of buying something a bit too soon and a bit over my budget. It took me way too long to put the debt from it behind me... never again. And if I can stop one other person from doing the same, then my hardship was worth it. When the time is right, it will work out. Don’t force it. Keep your cash in hand for another day and maybe you’ll find a better example, or find that your tastes have changed.

And, one more thing, there is a difference between a girlfriend and a wife, treat the financial advice you get accordingly.

Sounds like you know the right thing to do, you just maybe need a few people to tell you that you’re right.  Well you’re right, just hold up a few months and then go for it.  

notsomethingstructural > Spanfeller is a twat 12/26/2019 at 14:18

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I 100% agree about the Quattroporte and to some extent the GT’s. The later ones weren’t Ferrari-built and it shows, the Ferrari ones are supposed to be alright . I would never buy a GT though because I don’t want a car that looks like it was made by FCA (given that FCA still makes them, all GT’s accordingly fit that criteria) . The 4200 is supposed to be considerably better in the fit and finish department .

notsomethingstructural > Dr. Zoidberg - RIP Oppo 12/26/2019 at 14:20

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You should drive more!

Eury - AFRICA TWIN!!!!!!! > notsomethingstructural 12/26/2019 at 15:37

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UGH. Don’t buy a Maserati . They are all horrible looking and poorly built. Certainly don’t buy one if you can’t afford to pay cash without it hurting.

Spanfeller is a twat > notsomethingstructural 12/26/2019 at 15:40

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Its not the fit and finish or reliability I take issue with (though, certainly a factor others have mentioned and you should consider), I take issue with the fact that it’s just not cool enough to warrant the ownership nightmare it would bring... Like, if this car had another badge; say a Chrysler LeBaron badge , no one would care for it... its not beautiful like an Alfa Romeo, or as rare as a Ferrari; its sort of like a dank middle I don’t personally like.

If I had to spend 15-20K on a car that isn’t a BRZ I’d almost prefer to take a gamble on a cheap E90 M3 or a 335i...

haveacarortwoorthree2 > notsomethingstructural 12/26/2019 at 15:41

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Don’t buy it. Setting aside the reliability issue, you never know what it going to come up between now and “when you have the money.” There’s an old saying that is particularly apt: Shit happens. Why tempt the fates?

However, I also am financially conservative. I ignored all the pundits who say don’t pay off your mortgage because the rate is so low, put that money in the market.

Stef Schrader > notsomethingstructural 12/26/2019 at 17:26

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noooooooooo, give it to meeeeeee

fintail > notsomethingstructural 12/26/2019 at 18:16

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Unless it is something you could flip and literally triple your money same day, it can be a dangerous idea to go with your heart when it comes to high maintenance vehicles.

These Maseratis are good looking in their own way, and seem like a lot of car for the money, but horror stories abound - I’d be a little leery.

notsomethingstructural > Spanfeller is a twat 12/26/2019 at 23:18

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Honestly I’d just as quickly get a DB7 if row-your-own units hadn’t doubled in price in the last 3 years. I’m gonna drive a Cayman S before making any decisions, but if you think Maserati are rote and uninspiring I can’t imagine you have a much better opinion of Porsche.

If Ford comes out with a Ferrari V8 powered coupe I’m certain people would take it on the road. Ford still has people willing to bend over backwards for anything tuned by Cosworth or the old Yamaha-powered SHO’s despite that they’re total dogs. Plus on looks I think the Mas stacks up just fine . It’s a GT car, it’s not supposed to look like a Modena.

Derpwagon > notsomethingstructural 12/27/2019 at 00:05

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Hey for what it’s worth, my new f150 is pretty much that horsepower v8. I love it.

Moral: buy a truck.

notsomethingstructural > Derpwagon 12/27/2019 at 10:39

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I’m more of a Ranger guy. My friend had one of the 5MT and man if he still had that thing I wouldn’t be posting about maseratis