A few years ago I came up with the idea that buying a fancy car can be a real waste of money. Even if you are a “car guy” (like me), chances are that 360 days of the year you use your car to simply get you from A to B. Perhaps at most, you might go for a Sunday drive or a weekend road trip and really want to enjoy the sight and sound and visceral feel of a highly tuned car, maybe you want a “car” for a handful of days per year.
That being the case, instead of buying that BMW (or whatever), maybe you should buy a Civic (or whatever) instead. That way you can drive a Ferrari every now and then.
Yes, that’s right. If you were willing to spend $750/month on that fancy BMW lease you would be willing to pony up $9,000/year. Not to mention paying for premium gas, and more expensive insurance. A bare bones civic (at least at the time I originally thought of this) could be had for as little as $200/month, or $2,400/year. This leaves you with $6,600 left over plus the savings on gas and insurance – call it $8,000 in total savings.
To rent a Ferrari F430 in Toronto for a Friday to Sunday (includes 300km of use) costs $2,999. Extra insurance per day is $99. So two of these weekends would cost you approximately $6,600. I got these prices from GTA Exotics, but I am in no way affiliated with them.
That leaves you with $1,400 left in your pocket. Good for a last minute trip down south in the winter to boot. :)