Let’s discuss the monthly payment on my brand new 2024 Ferrari F8 Spider. How much it costs and how much I pay per month and my plan for paying it off. Ferrari financing and smart ways to make money and invest money.
Love the car. I have owned many Ferraris throughout the years. But now I live in Manhattan and have no cars. My life has never been better. I am in my 50's now so have long since grown out of the super car urges of youth. But I love watching young guys come up and living their dreams. Keep up the amazing work Will.
@@robertmorgan2219 Well I still have my obsessions. I mainly now just date beautiful girls and travel the world lightly. I found the more I owned. The more I was owned by those possessions. A large collection of cars, houses, land and employees. I just sold off everything and now love so care free I wish I would have done that sooner.
@@robertmorgan2219 Not sure how to mentor. Other than to say. Build a body of work if you are young. This has been the key to my success. No matter how crappy the project I did my best on it and built up a massive body of work. Along with that came money that I have handled and invested wisely. It took me decades to get here. I grew up poor with nothing. Now a top 1 percenter+. I wish I could help more.
@@erockvaughn2190 Great response! I too am living that 'care free' life. However, at a young age 25 (Im old af lol), I have this urge to purchase a supercar.. specfically a gt3 rs :D. My current networth is 1.2 mil but I'm hesistant in purchasing a depreciating asset
That's one impressive car! Your story is impressive and inspiring. You came up with a plan and working it, good on you man. If it makes you feel good go for it!! I get excited when my 62 Volkswagen starts up.
Congratulations again Will. That’s cool your transparent about payments on that pretty Ferrari.👍I’m contemplating about buying MC20 🤔I really like what Maserati did regarding MC20.
Really nice spec. I hope you keep it as is. I added an SF90 in January and I originally wanted to wide body it, but man, stock is really where it's at. I haven't even tinted it.
I don't think I could stomach a 5k payment. I paid cash for my Ferrari 458 and that made the ownership experience extra nice. At least you can sell your other ride and pay it off if you want. Sweet ride with an awesome color combo. I hope you enjoy it and stay safe.
I would be so worried about people scratching the paintwork out of jealousy. Here in Minnesota you just can’t have anything nice without idiots ruining it. Lucky for me I always have the option to go back to the UK where people appreciate cars like that. What a beautiful work of art that prancing horse is. Congrats.
He’s in Cleveland. That car new, cost more than his house. It’s only a lease . His insurance payment is more than his house payment! He will return that car in a few months. 🤦🏼♀️🤦🏼♀️🤦🏼♀️
@bb-iq6qw I mean I thought in the UK you would get jealousy and people would scratch your car. In the USA I thought they never had the jealousy there. Think about what I write before you reply 🍺
Awsome car buddy! Congrats dude. Love the red interior. Be safe in that car. As someone who owns a few sports cars I know it's easy to drive a little crazy from time to time so I hope you stay safe bc a lot of people love you and depend on you. Cheers brother.
Did you hire Darth Vader to do your camera work Will? As soon as the video started I was WTF sounds like an air intake system 🤔 oh it’s the camera guy breathing next to the microphone 🤦🏻♂️
Great info, Will! I paid cash for my last rental property and I use the cashflow to pay my AMG GTS loan. Instead of all my cash being in a depreciating car, it's in an appreciating house, and I still get the car! Real estate is a powerful thing.
Soooo you bought a house to buy a car? That’s like a girl turning tricks for drugs. You should invest in college level math course. 🤦🏼♀️🤦🏼♀️🤦🏼♀️ When the tenants can’t pay, you lose the house and the car. Mercedes/Pimp adores you!😜
@@bb-iq6qwthe house is paid off genius lol worst case scenario no occupancy he can cash out and relocate somewhere else where there's demand for rental. The man is ahead of you son! He owns the house, not the bank's house!
Actually, older exotic cars, appreciate a lot.. they are great investments. For example a Ferrari 360 coudl be bought under $60K several years ago, and now sell for North of $80k.
As someone who loves Euro cars, I get the part about not putting all the money down to lower the payment and keeping money for a rainy day fund - darn things are alway breaking and dealers always find an excuse to not cover it all under warranty 😂
Assalamu Alaikum, Brother I been watching your videos from the time you had the Huracan 570 and It's always good to see you get a New whip, Congregations brother
Sure, leasing cars you can’t afford to get RU-vid views and then sell it in a few months in Ohio is why most people become software engineers, right? 😂😂😂How are you motivated by fake videos?🤦🏼♀️ He literally set up a fake company to lease/rent cars. Notice the “other” Ferrari was missing….🤦🏼♀️I’m waiting for a girl to call herself Sally Satisfaction to show women how she gets boyfriends.😜
You seem as smart as he is. Just let time tell. Watch what happens with the economy in the next 6 to 12 months. Take a screen shot of this message so you remember. Then look up the value of that car in 1 year. This is not the time to flip cars or houses unless you are very wealthy and just bored.
When I bought my Ferrari 10 years ago the dealer tried to get me to finance it and when that was dismissed a lease program was suggested. I couldn't imagine buying a car like this and financing the purchase.
This seems silly. If paying with your money makes you happy or proud to be able to do that then you should. Or if your money is earning less than what they are charging to use their money. If your money is working harder for you than they are charging to use theirs, then financing makes sense. If you get 10% and they charge 5% you're still coming out 5% ahead. If you get 20% and they get 10% you're 10 ahead. If you don't care either way than do what makes you happy.
I never dreamed anyone would ever finance a car like this. Seems like a Ferrari owner should have about ten million in cash. I could not enjoy a car if I was making a payment. I appreciate the gentleman’s honesty. To each their own. God bless.
I bought a multi in Connecticut (three units) that cash flows enough to carry the debt and leave me enough for a 911 Turbo payment (purchase, not lease). Yes, I put a ton of $$ on the building but that $$ came from a RE investment that I sold via a 1031 Exchange (tax deferred capital gains and depreciation recapture). The idea here is hold off on the toys for a bit while you put your hard earned $$ to work for a couple of years. The rewards can be pretty sweet and it really isn't all that hard (!). Honestly, it can be boringly easy. No joke.
Ok James you're genuine but he's a fake that agreement if you zoom in on will definitely prove that it's not a purchase contract but rather a rental deed
@@WillMotivation why don't you show us your diploma...what university you graduated from..tell me technical info like how many programming languages you know once you that I ask you to write a simple program..plz scan your documents clearly
What I love about this guy is the discipline to live in that entry level neighborhood while investing his cashflow in other endeavors. Many of my peers can’t pull it off as Will does. I, personally, couldn’t make those sacrifices. All I’d see is cheap vinyl siding for days and it would make me sell my cars to get into a better neighborhood.
I noticed the neighborhood as well, somewhat of a middle class neighborhood, but not elite, where it would be gated and you wouldn't see your neighbor for at least 1 kilometer... Good Catch
Beautiful ride Will. Enjoy it. Embrace the hate because most of those people most likely will never be in your position, and its not because it's not possible for them too. It's because by their own judgement of you, they've judged and doomed themselves to a mediocre existence with that mentality. Sell that Ferrari Tributo, pay that beautiful F8 off and your set brother! Keep spreading that knowledge and positivity!
My gosh, that's a mortgage payment for a $600K home. But you if you could afford it, great man! Congrats on your purchase of a beautiful F8. It's a dream for most people.
I'm in the $10M+ club and I am nowhere near able to buy a $400k car 😂. My $2.5M 8,000 sq/ft house is paid off. If you have less than $40M in assets, you're a fuh 🤴 fool if you spend $400k on a car
@@yourlogicalnightmare1014 what.. if you enjoy cars? I don't want an 8000sq ft home, my 4500sq ft is bigger than I'd like. I literally use a bathroom, kitchen, office and bedroom and the rest of it is useless to me.
@@yourlogicalnightmare1014 I also don't believe that you have anywhere near the amount of cash you brag about. Checked your channel. All you do is brag. You are the least humble rich person if you really are, which is why I doubt you are. Money can't buy character, I guess.
Quite the entrepreneur you are Will. I'm envious of your awesome supercar purchases. Its great to see young men from a humble beginning being successful in life. The main stream media paints the total opposite picture unfortunately, so its good to post videos like this. Some supercars are better than others for investment The Ford GT's are a good investment (if you could've gotten new). There are some others that (if you can buy new from the dealer), you can drive for 10-12 months and easily sell for a 25+% profit afterward
Great work my brother. Live your life. Nice car. Be safe out there!! Congratulations sir!! Keep winning on your terms!! If you can do it, I can do it too. Thank you for sharing.
@@kvibeats1512 considering America is in trouble and looking at another recession (officially this time), it's not but then again, this guy doesn't work for this. He's a landlord.
Will I have been rocking with you since you were back in the other house. Dropped in to check on you bro. Ferrari is a flex bro. Love it. Glad you got rid of that Raptor 😉
holy crap!! this made me feel better about my purchase!! im paying 511 on my 2023 tacoma and i can do so much things with it and not worry about lil potholes, can go off road, carry loads of rock/lumber/tools, go camping, hunting, move furniture/appliances, and more! thanks for putting in some perspective i was worried im paying too much and now i know i made a good decision.
Will please drop the knowledge on why you put the car in your company name verses your name and how that benefits you from a tax and credit perspective. Thanks for sharing your toys with us as always.
Just an FYI.. you said you wouldn't be paying that much interest because you would only be paying on the car for 3 months. Except pretty much all of that $13.2k will have been interest, as that's how finance loans are structured. Early on, most of the payments are interest, and later on most of your payments go towards the principal.
What you just described on the payment layout sounds exactly like a lease. If you lease the vehicle for 48 months, if you want to keep the vehicle, then you pay the remaining residual balance to officially own the vehicle. If not, the vehicle is returned to the manufacture/dealership.
@turnne I agree. A lease is a deritivitive of a balloon payment. Personally, I would never sign a balloon contract on a house or a car because the market can change at any time, forcing you to pay a higher interest rate.
It’s an amazing car. Congrats on your hard work and achievements. I think I’d have to have at least 5M of disposable income to be able to justify that kind of bill on a car. Otherwise I think I could just rent a Ferrari for a day or 2 and be happy.
Someone like myself down here at the bottom looking up at the top really appreciates your vids, man. Hope I can get there someday. Gotta learn to apply myself though.
Thank you for the video, that is a beautiful car. The key to this video would have been to tell us how much money you owe when the balloon becomes due and if there is a penalty for prepaying on the 60 month note. If in theory you really paid $60k down and you pay $267k for the full term of the loan, you've $327k for the $420k sticker price. The reason you probably don't tell your viewers how much the balloon and/or prepayment penalty is because they would be scratching their heads as to why you paid so much over sticker for this car. My guess is you have pay $250k or more when the ballon becomes due. At that rate, you're paying about $580k (plus tax which is probably over $60k) and likely paying waaaaaaay over $600k for a $420k car. Not sure how that is a fiscal win. Better yet, prove me wrong and tell us. Also, please make a follow-up video and tell us how much one could expect to pay for maintenance costs for this car. 😱😱😱😱😱😱 There's a reason why most of these cars for sale have such low miles. Enjoy your new ride.
I mentioned the the balance was due, whatever that is after the 74 months. The reason I did not focus or even remember that number is becuase I have ZERO plans to keep this loan longer than 2 or 3 months. I'd refinance it before I would keep it. It's a bad loan if you were to keep it to full term for sure, no argument from me on that as I said in the video. As for the maintenance costs, the car has 7 years of free maintenance from Ferrari, so that would be a $0.00 cost :)
I got to give you props Bro. Congratulations. You showed something in Your Name. No Smoke and Mirrors. No rental Fluff. Giving Us the Real scoop on what it takes to drive a High Class Ride.
So happy for you! You are proof that if you work hard, no woke nonsense of so-called “Systemic Racism,” can stop you from achieving. You deserve all the success and enjoyment from what you achieved. God bless.
So, one African American buys a ferrari, and that means there is no systemic racism? I guess because you ate today there is no hunger problem in the U.S.? SMH! 🤪
@@wednus1 Almost every major corporation, the government, and most major colleges have discriminatory policies AGAINST whites, so yes there is systemic racism.
@@wednus1 to use your analogy…what I am saying is that if I ate today that means there is no “Systemic Hunger.’’ Hunger exists but if I work hard and make good decisions, I can find a way to eat.
