I'm thinking about buying a supercar anyone here done this and feedback?

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JustinTime
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I'm thinking about buying a supercar anyone here done this and feedback?

Post by JustinTime » Sun Jun 09, 2019 12:24 pm

Hey Everyone,

So, here's an interesting one that I want to see if any Bogleheads have ever been in a similar scenario and have purchased a supercar and more importantly do you think it has provided any value/happiness/fun in your life, and would you or have you done it again?

A little background. I'm married, and 27. We've been very fortunate, with a lot of hard work and some luck we've been able to create a pretty successful business that has taken off the past few years. We are FI with around 4M of investments, 1M of that in retirement accounts, 550k paid off home, 2 paid off cars. I stumbled on some car channels about a year ago on YouTube like Doug Demuro (Never was a car person), and it peaked my interest. Anyways, I was able to test drive a McLaren MP4-12C and 570S over the past few weeks, and it was a blast. When driving these cars it's really like the reaction you see here :D https://youtu.be/hKQBZYz_WhQ?t=625. I'm not even sure how to describe it maybe like a roller coaster.

I've been thinking about purchasing some type of supercar with cash over the next few months after doing a little more research and taking some type of driving classes to make sure I'm not an idiot driver since these types are cars are pretty crazy 8-). The next Tesla Roadster looks very interesting but that's probably another 2 or 3 years out.

I'm expecting we will gross roughly around 5-5.5M this year so maybe 3.3-3.5M after taxes so buying a 150k-200k car wouldn't have a big impact on overall net worth, this year's savings rate, charitable contributions or lifestyle.

I know this isn't really a Bogleheads type question, but at the end of the day, I'm assuming we all want to become FI so we can do things that we enjoy whether that's free time or a few specific hobbies like cars, etc.

Thanks
Last edited by JustinTime on Mon Jun 10, 2019 9:15 am, edited 3 times in total.

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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by jbranx » Sun Jun 09, 2019 12:27 pm

{Topic is now in Personal Consumer Issues} viewforum.php?f=11

Jags4186
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by Jags4186 » Sun Jun 09, 2019 12:30 pm

If I were making $5 million a year I'd have a Ferrari 812 Superfast. And a Model X. And whatever my wife wanted.

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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by JustinTime » Sun Jun 09, 2019 12:35 pm

It's horse riding for my wife :D
Jags4186 wrote:
Sun Jun 09, 2019 12:30 pm
If I were making $5 million a year I'd have a Ferrari 812 Superfast. And a Model X. And whatever my wife wanted.

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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by Kenkat » Sun Jun 09, 2019 12:45 pm

Sounds like you can afford it me. I would just drive a few other cars to make sure the McLaren is the one, because you are going to be impressed with anything at this price point.

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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by JustinTime » Sun Jun 09, 2019 12:48 pm

For sure, I was thinking I should probably check out a few Lamborghinis, Ferraris, maybe even the model S, but I don't know if the whole zero noise would compare ;)!
Kenkat wrote:
Sun Jun 09, 2019 12:45 pm
Sounds like you can afford it me. I would just drive a few other cars to make sure the McLaren is the one, because you are going to be impressed with anything at this price point.

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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by teamDE » Sun Jun 09, 2019 12:49 pm

I've never driven a supercar, but i suspect it'll feel quite confined on the streets. Would it ever get out of 2nd gear? If you're interested in the thrill of driving, perhaps check out some HPDE events through BMW Club or Porsche Club and learn how to drive on a real race track. If you get bitten by the bug, you'll have plenty of opportunities to spend money!

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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by JustinTime » Sun Jun 09, 2019 12:57 pm

Good point, there are some tracks around and some car clubs so, I believe there could be some places to go a little more crazy periodically!
teamDE wrote:
Sun Jun 09, 2019 12:49 pm
I've never driven a supercar, but i suspect it'll feel quite confined on the streets. Would it ever get out of 2nd gear? If you're interested in the thrill of driving, perhaps check out some HPDE events through BMW Club or Porsche Club and learn how to drive on a real race track. If you get bitten by the bug, you'll have plenty of opportunities to spend money!

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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by Bfwolf » Sun Jun 09, 2019 1:00 pm

I'm going to do something awful and uncalled for and completely unfair and guilt trip you.

You can afford this. But are you sure that this $175K will bring you more pleasure than trying to help other people with that money?

Even in the USA, you could help someone with $175K. And if you were to go outside the USA, you could potentially make a huge difference on a bunch of people's lives.

As in: you could probably save a bunch of people from dying of malaria. https://www.givewell.org/charities/amf

Or: prevent an even bigger group of people from getting intestinal worms that don't kill but lead to poor life outcomes. https://www.givewell.org/charities/Schi ... Initiative

Or: you could finance the education of some of the smartest, poorest kids in Tanzania who will go on to become engineers and doctors because of you rather than living in poverty because they never got a real education. https://www.youtube.com/watch?v=pYZqkTPmXQE&t=5s

This isn't what you asked about, and what I'm saying is 100% completely unfair. The logical conclusion of this argument is we should all be living bare-bones lives so we can help the less fortunate. And I know *I* am not willing to do that, so I am the pot calling the kettle black. BUT, I think when we're talking about super-cars, it really raises the question whether this kind of consumption is really going to make you happy enough to be worth the trade-off. Can't you buy a season pass to Six Flags instead? :)

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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by MotoTrojan » Sun Jun 09, 2019 1:04 pm

Humblebrag much :).

If you are not a car person I bet you could get equal enjoyment out of something more modest. I personally always said my F-you money car would be a Porsche Turbo S; most people can't tell the difference between it and a base Carrera, car people appreciate it, and it is one of the fastest 0-60mph cars in the world. Also convertible :).

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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by TomatoTomahto » Sun Jun 09, 2019 1:07 pm

Get a loaded model S while waiting for the new Roadster. Get your wife a Model X to tow her horse trailer.
Okay, I get it; I won't be political or controversial. The Earth is flat.

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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by JustinTime » Sun Jun 09, 2019 1:09 pm

Yeah, I get it! This is one of the things that I'm always think about if I were to spend this much on a car what else could it be used for. I guess that could be said about all spending but obviously this is next level.

We would still donate well more than the cost of this car on charitable contributions this year, but it's still hard to justify what else this much money could be used for to provide value elsewhere.
Bfwolf wrote:
Sun Jun 09, 2019 1:00 pm
I'm going to do something awful and uncalled for and completely unfair and guilt trip you.

You can afford this. But are you sure that this $175K will bring you more pleasure than trying to help other people with that money?

Even in the USA, you could help someone with $175K. And if you were to go outside the USA, you could potentially make a huge difference on a bunch of people's lives.

As in: you could probably save a bunch of people from dying of malaria. https://www.givewell.org/charities/amf

Or: prevent an even bigger group of people from getting intestinal worms that don't kill but lead to poor life outcomes. https://www.givewell.org/charities/Schi ... Initiative

Or: you could finance the education of some of the smartest, poorest kids in Tanzania who will go on to become engineers and doctors because of you rather than living in poverty because they never got a real education. https://www.youtube.com/watch?v=pYZqkTPmXQE&t=5s

This isn't what you asked about, and what I'm saying is 100% completely unfair. The logical conclusion of this argument is we should all be living bare-bones lives so we can help the less fortunate. And I know *I* am not willing to do that, so I am the pot calling the kettle black. BUT, I think when we're talking about super-cars, it really raises the question whether this kind of consumption is really going to make you happy enough to be worth the trade-off. Can't you buy a season pass to Six Flags instead? :)

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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by Jack FFR1846 » Sun Jun 09, 2019 1:12 pm

So congratulation first on realizing that driving lessons will help. I taught HPDEs (high performance driving education) on the track for a dozen years. Drove both autocross and roadraced for 30 years or so. There are many clubs and organizations who teach proper driving skills. In general, the more seat time you can get in a racing type event, the better you'll get. Very honestly, getting a used set up Miata is the way to actually learn. Plenty of Miatas out there with the roll cage, hard top and safety gear and of course, lots of places to run it. Learning in a low power car will make you learn the line and drive the car well. Starting out with a high powered car won't do that and you end up on the track with a McLaren giving a point by to guys like me with a 90 HP CRX who's 10 seconds a lap faster than you are.

Track: Road Racing

Where are you located? There are commercial schools like SCDA (based in CT) and Skip Barber (several locations) where you can use their cars or you can rent or you can use your own. Using your own car is tremendously cheaper. Just because I'm somewhat familiar, Skippy schools typically vary by number of days and what cars you drive. They're expensive. Multi-thousand for a few days.

Clubs are much, much cheaper. SCCA, BMW CCA, PCA, COM Sports Car Club all run schools taught by volunteer instructors. I taught with BMW, COM and SCDA (private). Many instructors teach for more than one organization. These schools tend to be $250 to $400 a day with your own car.

Autocross:

Autocrosses are low speed, high turning, smaller courses, often set up in parking lots or air fields. They're much cheaper to run in and most autocrosses have instructors who will ride with you and help and who you can often ride with during their runs. So so. Like I said....seat time is the biggest thing that can help you and doing so in the passenger seat allows you to see what an experienced guy who's doing most everything right is doing. I have not done an autocross for many years but would guess it would cost in the $75 area for a day.

Once you do some track and/or autocross events you might catch the bug and no longer care about getting a supercar but instead may become a track rat, doing every event you can find.


If you do decide to buy a supercar, decide what you must have, what you want, what you can lose. Watch Hoovie's youtube videos about buying a McLaren MP4-12C. Pay special attention to the fact that YOU MUST BUY THE FACTORY ANNUAL MCLAREN WARRANTY!!!. Note the car he bought had the engine, transmission had been replaced. McLaren values all drop like a rock. Some of the worst drops in supercars. This allows you to buy a used one cheap, but don't expect the value to hold or that you won't run into a $25k maintenance bill. Research the car you are considering buying. Would you be ok paying $800 for a replacement Lamborghini gas cap? (what they cost) Some exotics used can indeed be a bargain. But understand what you're getting into. For instance, in Ferrari GT cars, a F355 requires engine out for 60k timing belt changes. F360 is engine in for the same service and F430 went to a timing chain. Can you do it yourself? Check the hourly rate at either the dealer or specialty independent if you can't. What services are required (both by time and miles) and what do they cost.

Do you want something more reliable? Contrary to the moniker, Lotus (lots of trouble, usually serious), Elise, Exige and Evora all use Toyota drivetrains. The marque is followed by the forum LotusTalk, inhabited by plenty of do it yourselfers who have put together listings of all the things each car needs changed or that might go, so expect to change it. This is more difficult with Maserati, Ferrari, Lamborghini and McLaren. Porsche also has great do it yourself support. Used Lotuses tend to save you lots of money and level off in value, so you can drive a used Evora for many years with very little loss from depreciation.

Also, some other youtube guys to look through should include VINWiki (especially Ed Bolian), Tavarish (he buys bad exotics and fixes them and will cost out what he's spent), Hoovie's Garage and to some extent Samcrac (Audi R8 and then lower level cars mostly).
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by snackdog » Sun Jun 09, 2019 1:13 pm

How about a Bugatti?

Image

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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by JustinTime » Sun Jun 09, 2019 1:16 pm

Haha, very funny you mention a horse trailer. She's been looking at them for the last few months so she can do some summer trail riding.

And yes, the model S and future roadster looks very interesting since they and hang with and the roadster will dominate even the best of traditional supercars.
TomatoTomahto wrote:
Sun Jun 09, 2019 1:07 pm
Get a loaded model S while waiting for the new Roadster. Get your wife a Model X to tow her horse trailer.

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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by JustinTime » Sun Jun 09, 2019 1:17 pm

Nope... Lol certainly not looking to spend anywhere close to Bugatti prices.
snackdog wrote:
Sun Jun 09, 2019 1:13 pm
How about a Bugatti?

Image

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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by Jack FFR1846 » Sun Jun 09, 2019 1:25 pm

JustinTime wrote:
Sun Jun 09, 2019 1:16 pm
And yes, the model S and future roadster looks very interesting since they and hang with and the roadster will dominate even the best of traditional supercars.
......for one lap, then the motor overheats and puts the car into limp mode....
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by Toons » Sun Jun 09, 2019 1:27 pm

Buy 2
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by Demisaba » Sun Jun 09, 2019 1:31 pm

You can definitely afford it.

But, if I were you, I will move in two steps. First I will buy a car at about $100k. Then, after a few years, if I really enjoy cars and become a "car person," I will buy a $250k or whatever pleases me at that point.

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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by JustinTime » Sun Jun 09, 2019 1:32 pm

Thanks for taking the time for this post! There's a ton a valuable content I will need to look through.

Where are you located?

I'm located in the Denver metro any suggested on where to start?

Watch Hoovie's youtube videos about buying a McLaren MP4-12C.

I watch Hoovie's Garage regularly. That's why I was a little scared about the MP4-12C from a privare seller ;), and decided to test drive the 570s from a local McLaren dealer.

Autocrosses are low speed, high turning, smaller courses, often set up in parking lots or air fields.

I have a good buddy doing these events in an S2000, but he's on the other side of the country, so maybe I will check out what's available here in Denver.

McLaren values all drop like a rock. Some of the worst drops in supercars.

Definitely! I've done a little research on the brand, I would definitely go used, but one that could still qualify for a warranty.

Hoovie's Garage and to some extent Samcrac (Audi R8 and then lower level cars mostly).

I really love the R8. I would definitely want to try an R8 before making a purchase. I currently have an S4 and like the Audi brand in general. Also, the naturally aspirated engine seems like a plus.
Jack FFR1846 wrote:
Sun Jun 09, 2019 1:12 pm
So congratulation first on realizing that driving lessons will help. I taught HPDEs (high performance driving education) on the track for a dozen years. Drove both autocross and roadraced for 30 years or so. There are many clubs and organizations who teach proper driving skills. In general, the more seat time you can get in a racing type event, the better you'll get. Very honestly, getting a used set up Miata is the way to actually learn. Plenty of Miatas out there with the roll cage, hard top and safety gear and of course, lots of places to run it. Learning in a low power car will make you learn the line and drive the car well. Starting out with a high powered car won't do that and you end up on the track with a McLaren giving a point by to guys like me with a 90 HP CRX who's 10 seconds a lap faster than you are.

Track: Road Racing

Where are you located? There are commercial schools like SCDA (based in CT) and Skip Barber (several locations) where you can use their cars or you can rent or you can use your own. Using your own car is tremendously cheaper. Just because I'm somewhat familiar, Skippy schools typically vary by number of days and what cars you drive. They're expensive. Multi-thousand for a few days.

Clubs are much, much cheaper. SCCA, BMW CCA, PCA, COM Sports Car Club all run schools taught by volunteer instructors. I taught with BMW, COM and SCDA (private). Many instructors teach for more than one organization. These schools tend to be $250 to $400 a day with your own car.

Autocross:

Autocrosses are low speed, high turning, smaller courses, often set up in parking lots or air fields. They're much cheaper to run in and most autocrosses have instructors who will ride with you and help and who you can often ride with during their runs. So so. Like I said....seat time is the biggest thing that can help you and doing so in the passenger seat allows you to see what an experienced guy who's doing most everything right is doing. I have not done an autocross for many years but would guess it would cost in the $75 area for a day.

Once you do some track and/or autocross events you might catch the bug and no longer care about getting a supercar but instead may become a track rat, doing every event you can find.


If you do decide to buy a supercar, decide what you must have, what you want, what you can lose. Watch Hoovie's youtube videos about buying a McLaren MP4-12C. Pay special attention to the fact that YOU MUST BUY THE FACTORY ANNUAL MCLAREN WARRANTY!!!. Note the car he bought had the engine, transmission had been replaced. McLaren values all drop like a rock. Some of the worst drops in supercars. This allows you to buy a used one cheap, but don't expect the value to hold or that you won't run into a $25k maintenance bill. Research the car you are considering buying. Would you be ok paying $800 for a replacement Lamborghini gas cap? (what they cost) Some exotics used can indeed be a bargain. But understand what you're getting into. For instance, in Ferrari GT cars, a F355 requires engine out for 60k timing belt changes. F360 is engine in for the same service and F430 went to a timing chain. Can you do it yourself? Check the hourly rate at either the dealer or specialty independent if you can't. What services are required (both by time and miles) and what do they cost.

Do you want something more reliable? Contrary to the moniker, Lotus (lots of trouble, usually serious), Elise, Exige and Evora all use Toyota drivetrains. The marque is followed by the forum LotusTalk, inhabited by plenty of do it yourselfers who have put together listings of all the things each car needs changed or that might go, so expect to change it. This is more difficult with Maserati, Ferrari, Lamborghini and McLaren. Porsche also has great do it yourself support. Used Lotuses tend to save you lots of money and level off in value, so you can drive a used Evora for many years with very little loss from depreciation.

Also, some other youtube guys to look through should include VINWiki (especially Ed Bolian), Tavarish (he buys bad exotics and fixes them and will cost out what he's spent), Hoovie's Garage and to some extent Samcrac (Audi R8 and then lower level cars mostly).

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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by JustinTime » Sun Jun 09, 2019 1:36 pm

Yeah, that's a great point. I haven't had enough real experience to know if it's something I would enjoy and do long term. I was looking into like week rental options, but it doesn't seem to be easy to find for cars like this.
Demisaba wrote:
Sun Jun 09, 2019 1:31 pm
You can definitely afford it.

But, if I were you, I will move in two steps. First I will buy a car at about $100k. Then, after a few years, if I really enjoy cars and become a "car person," I will buy a $250k or whatever pleases me at that point.

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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by mtwhmemn » Sun Jun 09, 2019 1:45 pm

I am a car guy and I own, among other sports cars, one of the most acclaimed 90s Japanese "supercars". (Since I am a boglehead I limit myself to reliable and appreciating cars that suit my taste.) Since you aren't a car guy you probably can't guess what I own, ha! That's OK...just having a little fun. From my experience I can tell you that you won't drive it a lot for various reasons. I'll give you a couple thoughts. If you are concerned at all about keeping it in good condition, you won't park it in most parking lots. When you walk away from it you'll be thinking about if it'll be in the same condition when you return. If you want to enjoy the drive you'll probably only use it on weekends to avoid traffic. So, it'll become mostly a point A to point A car. Now that is fine and mostly what I do and I enjoy it. It keeps the drives special too! When you do take it out, you'll likely drive very defensively, not just to avoid an accident, but to remain alive! These cars are generally very, very low and your head is below the taillights of a small Japanese sedan. It can feel a bit intimidating at times when folks in very large, high vehicles are not even aware you are there. All that said, go for it!

Another option is one of those services offered by car dealers that allows you to swap out cars, but not likely super/hypercars.

Yet another thought is if you buy strategically you can actually make money buying and selling by buying the entry type car and then getting the option to buy the more exclusive car. You get put on a list essentially. I know I guy that does this and allegedly makes a good profit while enjoying the cars. GT3, 488 type of things. Best of luck and be safe.

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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by JustinTime » Sun Jun 09, 2019 1:46 pm

NSX?
mtwhmemn wrote:
Sun Jun 09, 2019 1:45 pm
I am a car guy and I own, among other sports cars, one of the most acclaimed 90s Japanese "supercars". (Since I am a boglehead I limit myself to reliable and appreciating cars that suit my taste.) Since you aren't a car guy you probably can't guess what I own, ha! That's OK...just having a little fun. From my experience I can tell you that you won't drive it a lot for various reasons. I'll give you a couple thoughts. If you are concerned at all about keeping it in good condition, you won't park it in most parking lots. When you walk away from it you'll be thinking about if it'll be in the same condition when you return. If you want to enjoy the drive you'll probably only use it on weekends to avoid traffic. So, it'll become mostly a point A to point A car. Now that is fine and mostly what I do and I enjoy it. It keeps the drives special too! When you do take it out, you'll likely drive very defensively, not just to avoid an accident, but to remain alive! These cars are generally very, very low and your head is below the taillights of a small Japanese sedan. It can feel a bit intimidating at times when folks in very large, high vehicles are not even aware you are there. All that said, go for it!

Another option is one of those services offered by car dealers that allows you to swap out cars, but not likely super/hypercars.

Yet another thought is if you buy strategically you can actually make money buying and selling by buying the entry type car and then getting the option to buy the more exclusive car. You get put on a list essentially. I know I guy that does this and allegedly makes a good profit while enjoying the cars. GT3, 488 type of things. Best of luck and be safe.

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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by mtwhmemn » Sun Jun 09, 2019 1:47 pm

JustinTime wrote:
Sun Jun 09, 2019 1:46 pm
NSX?
mtwhmemn wrote:
Sun Jun 09, 2019 1:45 pm
I am a car guy and I own, among other sports cars, one of the most acclaimed 90s Japanese "supercars". (Since I am a boglehead I limit myself to reliable and appreciating cars that suit my taste.) Since you aren't a car guy you probably can't guess what I own, ha! That's OK...just having a little fun. From my experience I can tell you that you won't drive it a lot for various reasons. I'll give you a couple thoughts. If you are concerned at all about keeping it in good condition, you won't park it in most parking lots. When you walk away from it you'll be thinking about if it'll be in the same condition when you return. If you want to enjoy the drive you'll probably only use it on weekends to avoid traffic. So, it'll become mostly a point A to point A car. Now that is fine and mostly what I do and I enjoy it. It keeps the drives special too! When you do take it out, you'll likely drive very defensively, not just to avoid an accident, but to remain alive! These cars are generally very, very low and your head is below the taillights of a small Japanese sedan. It can feel a bit intimidating at times when folks in very large, high vehicles are not even aware you are there. All that said, go for it!

Another option is one of those services offered by car dealers that allows you to swap out cars, but not likely super/hypercars.

Yet another thought is if you buy strategically you can actually make money buying and selling by buying the entry type car and then getting the option to buy the more exclusive car. You get put on a list essentially. I know I guy that does this and allegedly makes a good profit while enjoying the cars. GT3, 488 type of things. Best of luck and be safe.
yep

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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by Watty » Sun Jun 09, 2019 1:48 pm

You can obviously afford to to do whatever you want but be sure to consider how often you will actually get to drive it like a sports car.

For a while I drove a Honda Fit which is about as far from a supercar as you can get. One time I was in bumper to bumper traffic and I was next to a car like a Ferrari or Maserati at a stop light. I was revving my engine and bouncing in the seat like I wanted to race him. In retrospect I was pretty much being a jerk but he studiously ignored me. It is not my thing but I can understand why someone might want a high performance car, but for the life of me I cannot understand why someone would want one to drive in city traffic.

If you will mostly be driving it in traffic then it will basically be jewelry. You can afford that too if that is what you want but be sure that is your expectation.

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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by JustinTime » Sun Jun 09, 2019 1:51 pm

That's awesome! So, I wasn't a car guy before, but over the last year I've been getting into it.

The new NSX even looks pretty interesting as it took such a big depreciation hit.
mtwhmemn wrote:
Sun Jun 09, 2019 1:47 pm
JustinTime wrote:
Sun Jun 09, 2019 1:46 pm
NSX?
mtwhmemn wrote:
Sun Jun 09, 2019 1:45 pm
I am a car guy and I own, among other sports cars, one of the most acclaimed 90s Japanese "supercars". (Since I am a boglehead I limit myself to reliable and appreciating cars that suit my taste.) Since you aren't a car guy you probably can't guess what I own, ha! That's OK...just having a little fun. From my experience I can tell you that you won't drive it a lot for various reasons. I'll give you a couple thoughts. If you are concerned at all about keeping it in good condition, you won't park it in most parking lots. When you walk away from it you'll be thinking about if it'll be in the same condition when you return. If you want to enjoy the drive you'll probably only use it on weekends to avoid traffic. So, it'll become mostly a point A to point A car. Now that is fine and mostly what I do and I enjoy it. It keeps the drives special too! When you do take it out, you'll likely drive very defensively, not just to avoid an accident, but to remain alive! These cars are generally very, very low and your head is below the taillights of a small Japanese sedan. It can feel a bit intimidating at times when folks in very large, high vehicles are not even aware you are there. All that said, go for it!

Another option is one of those services offered by car dealers that allows you to swap out cars, but not likely super/hypercars.

Yet another thought is if you buy strategically you can actually make money buying and selling by buying the entry type car and then getting the option to buy the more exclusive car. You get put on a list essentially. I know I guy that does this and allegedly makes a good profit while enjoying the cars. GT3, 488 type of things. Best of luck and be safe.
yep

mtwhmemn
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by mtwhmemn » Sun Jun 09, 2019 1:55 pm

JustinTime wrote:
Sun Jun 09, 2019 1:51 pm
That's awesome! So, I wasn't a car guy before, but over the last year I've been getting into it.

The new NSX even looks pretty interesting as it took such a big depreciation hit.
mtwhmemn wrote:
Sun Jun 09, 2019 1:47 pm
JustinTime wrote:
Sun Jun 09, 2019 1:46 pm
NSX?
mtwhmemn wrote:
Sun Jun 09, 2019 1:45 pm
I am a car guy and I own, among other sports cars, one of the most acclaimed 90s Japanese "supercars". (Since I am a boglehead I limit myself to reliable and appreciating cars that suit my taste.) Since you aren't a car guy you probably can't guess what I own, ha! That's OK...just having a little fun. From my experience I can tell you that you won't drive it a lot for various reasons. I'll give you a couple thoughts. If you are concerned at all about keeping it in good condition, you won't park it in most parking lots. When you walk away from it you'll be thinking about if it'll be in the same condition when you return. If you want to enjoy the drive you'll probably only use it on weekends to avoid traffic. So, it'll become mostly a point A to point A car. Now that is fine and mostly what I do and I enjoy it. It keeps the drives special too! When you do take it out, you'll likely drive very defensively, not just to avoid an accident, but to remain alive! These cars are generally very, very low and your head is below the taillights of a small Japanese sedan. It can feel a bit intimidating at times when folks in very large, high vehicles are not even aware you are there. All that said, go for it!

Another option is one of those services offered by car dealers that allows you to swap out cars, but not likely super/hypercars.

Yet another thought is if you buy strategically you can actually make money buying and selling by buying the entry type car and then getting the option to buy the more exclusive car. You get put on a list essentially. I know I guy that does this and allegedly makes a good profit while enjoying the cars. GT3, 488 type of things. Best of luck and be safe.
yep
The "new" NSX is misunderstood as best I can tell. I've not had the pleasure of driving one but would love too. I would also say to the OP that if it is something to be driven mostly in the city a less powerful car can be a lot more fun than a modern supercar. Reason being you can approach the limits of a slower car when you'll never be able to do that with a 488 type car in the city (and stay out of jail). Look at Lotus as suggested before.

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JustinTime
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by JustinTime » Sun Jun 09, 2019 1:56 pm

Luckily, I work from home and live far enough from the city traffic could be avoided pretty easily.
Watty wrote:
Sun Jun 09, 2019 1:48 pm
You can obviously afford to to do whatever you want but be sure to consider how often you will actually get to drive it like a sports car.

For a while I drove a Honda Fit which is about as far from a supercar as you can get. One time I was in bumper to bumper traffic and I was next to a car like a Ferrari or Maserati at a stop light. I was revving my engine and bouncing in the seat like I wanted to race him. In retrospect I was pretty much being a jerk but he studiously ignored me. It is not my thing but I can understand why someone might want a high performance car, but for the life of me I cannot understand why someone would want one to drive in city traffic.

If you will mostly be driving it in traffic then it will basically be jewelry. You can afford that too if that is what you want but be sure that is your expectation.

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JustinTime
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by JustinTime » Sun Jun 09, 2019 2:23 pm

So, I just re-watched Doug's NSX video at https://www.youtube.com/watch?v=Qi6UF2KfNac. There's one for sale close by for around 140k! I scheduled a test drive for tomorrow. It seems like this is sorta the off-brand supercar that still has the performance and fun driving experience. I will let you know what I think after taking it for a spin.
mtwhmemn wrote:
Sun Jun 09, 2019 1:55 pm
JustinTime wrote:
Sun Jun 09, 2019 1:51 pm
That's awesome! So, I wasn't a car guy before, but over the last year I've been getting into it.

The new NSX even looks pretty interesting as it took such a big depreciation hit.
mtwhmemn wrote:
Sun Jun 09, 2019 1:47 pm
JustinTime wrote:
Sun Jun 09, 2019 1:46 pm
NSX?
mtwhmemn wrote:
Sun Jun 09, 2019 1:45 pm
I am a car guy and I own, among other sports cars, one of the most acclaimed 90s Japanese "supercars". (Since I am a boglehead I limit myself to reliable and appreciating cars that suit my taste.) Since you aren't a car guy you probably can't guess what I own, ha! That's OK...just having a little fun. From my experience I can tell you that you won't drive it a lot for various reasons. I'll give you a couple thoughts. If you are concerned at all about keeping it in good condition, you won't park it in most parking lots. When you walk away from it you'll be thinking about if it'll be in the same condition when you return. If you want to enjoy the drive you'll probably only use it on weekends to avoid traffic. So, it'll become mostly a point A to point A car. Now that is fine and mostly what I do and I enjoy it. It keeps the drives special too! When you do take it out, you'll likely drive very defensively, not just to avoid an accident, but to remain alive! These cars are generally very, very low and your head is below the taillights of a small Japanese sedan. It can feel a bit intimidating at times when folks in very large, high vehicles are not even aware you are there. All that said, go for it!

Another option is one of those services offered by car dealers that allows you to swap out cars, but not likely super/hypercars.

Yet another thought is if you buy strategically you can actually make money buying and selling by buying the entry type car and then getting the option to buy the more exclusive car. You get put on a list essentially. I know I guy that does this and allegedly makes a good profit while enjoying the cars. GT3, 488 type of things. Best of luck and be safe.
yep
The "new" NSX is misunderstood as best I can tell. I've not had the pleasure of driving one but would love too. I would also say to the OP that if it is something to be driven mostly in the city a less powerful car can be a lot more fun than a modern supercar. Reason being you can approach the limits of a slower car when you'll never be able to do that with a 488 type car in the city (and stay out of jail). Look at Lotus as suggested before.

mdavis
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by mdavis » Sun Jun 09, 2019 2:47 pm

I bought a Porsche GT4 in late 2015 and it has been a blast. We love taking the car on Porsche club events, rallys, tours, etc. It is great fun. Since it is mid-engine, many believe this is one of the best cars Porsche has ever built - many thought they would never put a decent engine in the Cayman platform...just took 20 years. 6SP Manual-only, of course...the loudest car Porsche makes and it is so thrilling to listen to - like being at a concert.

For the first 2-3 years, I could have sold the car for more than I paid...now that another single-year, limited production GT4 is "due", pricing is coming down...but I could probably come close to getting my money back - maybe lose $10k for 3 years of ownership....and the car was a smoking deal - $99k new. In sum: most Porsche GT cars hold value extremely well - the trick is getting on the list for one of them.

A McLaren 720S would be a blast as well, as would a 812 Superfast. Porsche GT3s are fun too - amazing engines in those cars.

-mark

h82goslw
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by h82goslw » Sun Jun 09, 2019 2:58 pm

I will second everything JackFFR said. Especially the part about waving the faster people by. Nothing is more emasculating (in the moment) than waving by a 95rwhp race prepped Miata while driving a 400rwhp Corvette Z06 at Watkins Glen. Of course I’d crush them on the straights but damn it if they weren’t on my bumper on EVERY turn. Thankfully I had some great instructors who helped me get better.
I’ve raced at Watkins and Lime Rock and there’s nothing more exhilarating and you see every kind of car imaginable at HPDEs.

Now that I’m totally BH I drive a Camry 🤮 but look forward to the day when I will buy a 911.
OP keep us posted on what you end up buying so I can live vicariously through you.

NYCguy
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by NYCguy » Sun Jun 09, 2019 3:36 pm

Congratulations on your extraordinary success at a young age. Beware of lifestyle creep.

You may want to read about high beta rich and income volatility. I will add that it is an extraordinarily expensive and addictive hobby. The purchase price is just the beginning.

Personally, I would let your wealth grow and enjoy the simple pleasures in life for the next five years. If you stay on your current trajectory this will become a trivial question for you.
If your out-go is greater than your income, your upkeep will be your DOWNFALL.

JPM
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by JPM » Sun Jun 09, 2019 3:44 pm

In our neighborhood there is a neurosurgeon who covers 5-6 hospitals spread over about 60 miles of interstate between Illinois and Wisconsin. He was always getting stopped for speeding between surgeries/emergencies in his ordinary Mercedes. He bought a very distinctive Maserati so that he would be immediately recognizable by all the staties on both sides of the state line. They just let that Maserati whiz by.

visualguy
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by visualguy » Sun Jun 09, 2019 4:05 pm

JustinTime wrote:
Sun Jun 09, 2019 12:24 pm
So, here's an interesting one that I want to see if any Bogleheads have ever been in a similar scenario and have purchased a supercar and more importantly do you think it has provided any value/happiness/fun in your life, and would you or have you done it again?
I did it 3 times. The fun on public roads is limited, and anything other than point A to point A needs to be carefully planned because you don't want to park such cars just anywhere. Once you drive them aggressively a few times, it becomes a "been there, done that" kind of thing. It was fun, but you don't necessarily feel like doing it again and again - getting up at dawn to go to mountain roads, or going to the race track gets old pretty quickly unless you are REALLY into it.

These cars are a pain to maintain, and it's hard and sometimes impossible to find anyone who can repair them correctly.

There's a lot of stress and anxiety that comes with owning these things even if money isn't an issue for you. Also, a big time sink.

My opinion and experience - not worth it. Temptation comes, you buy one, and then after a few months you are eager to sell it. You get it out of your system for a while, and then you get tempted again, and go through the cycle again because you forget what made you sell it last time. Kind of nuts - it's best to stay away from this temptation unless you truly love these things.

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JustinTime
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by JustinTime » Sun Jun 09, 2019 4:18 pm

Why did you keep doing it?
visualguy wrote:
Sun Jun 09, 2019 4:05 pm

I did it 3 times.

h82goslw
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by h82goslw » Sun Jun 09, 2019 4:33 pm

JustinTime wrote:
Sun Jun 09, 2019 4:18 pm
Why did you keep doing it?
visualguy wrote:
Sun Jun 09, 2019 4:05 pm

I did it 3 times.
It’s a disease, a fun one.

kjvmartin
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by kjvmartin » Sun Jun 09, 2019 4:36 pm

JustinTime wrote:
Sun Jun 09, 2019 4:18 pm
Why did you keep doing it?
visualguy wrote:
Sun Jun 09, 2019 4:05 pm

I did it 3 times.
This is on a different scale of dollars, but a similar situation to you. I was young, single, degree in hand, employed.

Dream Car = 2005 Mustang GT. Purchased a lightly used model to keep it reasonable. The exhaust note, G-Force during acceleration, and overall enjoyment of the aesthetics wore off over (what was for me) a period of months. I got it out of my system.

My thought on cars: Comfort & convenience does not get old, but performance does.

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JustinTime
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by JustinTime » Sun Jun 09, 2019 4:50 pm

The fun isn't worth it though?
h82goslw wrote:
Sun Jun 09, 2019 4:33 pm
JustinTime wrote:
Sun Jun 09, 2019 4:18 pm
Why did you keep doing it?
visualguy wrote:
Sun Jun 09, 2019 4:05 pm

I did it 3 times.
It’s a disease, a fun one.

crystalbank
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by crystalbank » Sun Jun 09, 2019 4:56 pm

Do it and get it out of your system. Worst case, you'll get hooked and start buying multiple of them and eventually you'll rent out a hangar to put them all, like Leno.

McLaren MP4-12C is a great choice. 570S if you just wanna dip your toes I guess.

Broken Man 1999
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by Broken Man 1999 » Sun Jun 09, 2019 4:58 pm

I would just throw caution to the wind and go to the nearest Toyota dealer, and buy the Camry with the absolute most bells and whistles! :D

I wouldn't be surprised if someone doesn't suggest a 2-3 year old Camry. :oops:

But seriously, at your income level, you aren't even close to being in the danger zone for a fun ride.

Congrats on your good fortune via your business.

What people on this site fail to realize is your high car spending, though not necessarily required, pumps the economy and keeps people working.

A painter loves rich people, poor people don't hire painters (and neither do some rich people). Poor people aren't keeping the lights on and the wrench-pullers busy at upscale car dealerships.

Guilt? If you earned your money legally, more power to you. Perhaps your company employs people. You sure as heck are going to pay some taxes. And, besides, no one knows (or should know, IMHO) of the charities you might support now or later.

Don't be dissuaded by guilt-trips others want to lay on you.

Maybe you could start smaller and buy a MB AMG and keep my BIL pulling wrenches!

Broken Man 1999
“If I cannot drink Bourbon and smoke cigars in Heaven than I shall not go. " -Mark Twain

sambb
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by sambb » Sun Jun 09, 2019 5:20 pm

1. They are more of a weekend or evening car, after the first few months
2. Avoid potholes at all costs and rain/snow
3. Be aware that some people are jealous and will attempt to scratch your car. Im serious. So dont drive to a sporting event, etc.
4. They are fun
5. The do depreciate (italian) for several years, but are fun experience anyway
6. After you get a few lambos or ferraris out of your system, you will settle into a 911 turbo or larger AMG car, and be happier with less attention.
7. Only get ferrari in red or black for resale reasons

bubbadog
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by bubbadog » Sun Jun 09, 2019 5:56 pm

JustinTime wrote:
Sun Jun 09, 2019 2:23 pm
So, I just re-watched Doug's NSX video at https://www.youtube.com/watch?v=Qi6UF2KfNac. There's one for sale close by for around 140k! I scheduled a test drive for tomorrow. It seems like this is sorta the off-brand supercar that still has the performance and fun driving experience. I will let you know what I think after taking it for a spin.
mtwhmemn wrote:
Sun Jun 09, 2019 1:55 pm
JustinTime wrote:
Sun Jun 09, 2019 1:51 pm
That's awesome! So, I wasn't a car guy before, but over the last year I've been getting into it.

The new NSX even looks pretty interesting as it took such a big depreciation hit.
mtwhmemn wrote:
Sun Jun 09, 2019 1:47 pm
JustinTime wrote:
Sun Jun 09, 2019 1:46 pm
NSX?

yep
The "new" NSX is misunderstood as best I can tell. I've not had the pleasure of driving one but would love too. I would also say to the OP that if it is something to be driven mostly in the city a less powerful car can be a lot more fun than a modern supercar. Reason being you can approach the limits of a slower car when you'll never be able to do that with a 488 type car in the city (and stay out of jail). Look at Lotus as suggested before.
Definitely give the new NSX some consideration. It really is an under appreciated supercar. I owned a first gen (2005 NSX) and had the opportunity to spend a day driving the new one at Honda's testing facility in Marysville Ohio. It is a fantastic car! High optioned used ones that stickered for over $200K new can be purchased for $120k-130s in a private party sale. You might want to check out NSXPrime. It is the online NSX enthusiast forum.

You obviously can afford about anything you like.

Best of luck with your decision and circle back and let us know what you end up getting.

visualguy
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by visualguy » Sun Jun 09, 2019 6:49 pm

JustinTime wrote:
Sun Jun 09, 2019 4:18 pm
Why did you keep doing it?
visualguy wrote:
Sun Jun 09, 2019 4:05 pm

I did it 3 times.
Two of those times I tried different types of cars. The third time I was (temporarily) retired, so thought it would make sense because I would actually have the time to enjoy it. As it turned out, none of those times made sense overall other than to get things out of my system.

I ended up concluding that (at least for me) it's best to get an M or an AMG sedan. Still fun in many ways and a special experience, but more practical, fewer headaches, and less attention-grabbing. Still more headaches and attention than ideal, but much more tolerable.

il0kin
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by il0kin » Sun Jun 09, 2019 7:16 pm

What about a Corvette ZR1? It’ll smoke just about everything except the highest end supercars and starts at 120k brand new. Option it out to 150k and you’ve got a hell of a brand new car.

I’ve ridden in a 450 rwhp trans am and the power was almost incomprehensible, I can’t even fathom 700+. Be careful with it.

dknightd
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by dknightd » Sun Jun 09, 2019 7:20 pm

I'm jealous. I want an exotic super car ;)

Wricha
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by Wricha » Sun Jun 09, 2019 7:24 pm

I am not sure where the dividing line is on a exotic super car. I have owned Porsche(s) for 25 years currently 911 turbo and it all the car I can handle/want. New, your in around $200k. Test drive one maybe worth it. Great cars although maybe not an exotic super car.

Goal33
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by Goal33 » Sun Jun 09, 2019 7:31 pm

Toyota Camry. You can afford to add a sunroof if you must.
A man with one watch always knows what time it is; a man with two watches is never sure.

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FrugalInvestor
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by FrugalInvestor » Sun Jun 09, 2019 7:38 pm

If you really want to have fun driving a car and not worry about destroying your investment there are many options that will provide you with more enjoyment and less worry. A supercar will cost a small fortune to own and another to insure, maintain and operate. I'd suggest learning more about cars and driving before jumping in with both feet.

If you're primarily looking to make an impression on others a supercar will likely do the trick.
IGNORE the noise! | Our life is frittered away by detail... simplify, simplify. - Henry David Thoreau

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corn18
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by corn18 » Sun Jun 09, 2019 7:53 pm

I don't collect cars at that level, but my best friend has been in search of an exotic he likes. Started with AMG Mercs, then Proches, then Lambos, then Mclarens and now he has a Ferrari 488 GTB. I get the benefit of him buying them and me driving them on occasion.

He drives his on the weekend to pick up coffee on Saturday morning for his wife. His friend has a Ferrari as well and planned to track it but won't for fear of wrecking it so he bought a Corvette to track. His comment: "I'm not really worried about crashing an $80,000 car."

So this is a whole different and weird world of car ownership.

My advise, don't mess around and buy something you think is a compromise. Buy the best car (in your mind) the first time, even if that means a P1 or 918 or Veyron. Otherwise you will just keep buying cars until you have "the best" to see what the best is all about.
Don't do something, just stand there!

KandT
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Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

Post by KandT » Sun Jun 09, 2019 8:23 pm

Jack FFR1846 wrote:
Sun Jun 09, 2019 1:25 pm
JustinTime wrote:
Sun Jun 09, 2019 1:16 pm
And yes, the model S and future roadster looks very interesting since they and hang with and the roadster will dominate even the best of traditional supercars.
......for one lap, then the motor overheats and puts the car into limp mode....
I own a Tesla - Please don't spread rumors. What they are doing is good for us all. The constant negative narrative against one of the few companies that has a clear positive corporate mission statement is growing old. Even today my wife had to answer somebody who stopped her and ask her how she charged it - like we don't all have electricity running to our homes. :oops: Then the same constant question about can you only use it around town. No they have superchargers all over the place.

What about a lighter and tighter Model 3 with Track Mode??? Not as fast as Model S but might be more fun. Pimp it out and still have enough money to wreck it.

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