Author Topic: 1 hour in a Ferrari = $288,000  (Read 4673 times)

MoMan

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1 hour in a Ferrari = $288,000
« on: July 28, 2017, 06:50:05 AM »
From CNBC
http://www.cnbc.com/2017/07/28/ferrari-driver-crashes-288000-supercar-just-an-hour-after-purchase.html

Quote
A driver in the United Kingdom has destroyed his 220,000 ($288,000) supercar in an accident after owning it for just one hour.

Police in South Yorkshire said the driver was able to walk away with just cuts and bruises after the Ferrari 430 "went airborne and burst into flames" in South Yorkshire on Thursday.

In a statement on Facebook police added: "Officers asked the driver what sort of car he 'had' to which he replied 'It was a Ferrari'."

"Detecting a sense of damaged pride he then said 'I've only just got it, picked it up an hour ago'."

I've never been more grateful for my 10-year-old Subaru Outback.

slugline

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Re: 1 hour in a Ferrari = $288,000
« Reply #1 on: July 28, 2017, 07:17:41 AM »
Wow. I hope that was worth it.

MoMan

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Re: 1 hour in a Ferrari = $288,000
« Reply #2 on: July 28, 2017, 07:29:59 AM »
Man I'd love to see the before and after effects on his insurance premiums.

talltexan

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Re: 1 hour in a Ferrari = $288,000
« Reply #3 on: July 28, 2017, 01:46:54 PM »
Yeah, can you imagine how embarrassing that is when you're still driving the car TO the insurance office and you do that "burst into flames" thing?

He was probably still on the dealer's insurance!

BlueMR2

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Re: 1 hour in a Ferrari = $288,000
« Reply #4 on: July 28, 2017, 04:35:15 PM »
Once, while I was working as a general assistant at a racetrack, I met a gentleman that has that beat as far as timeframe.  He had a full race prepared Ferrari purchased new, for something North of $250k.  His very first time at the track he went off on the first corner of the first "at speed" lap (so, he probably got 5-10 minutes of warmup before this happened).  The car went back to Italy for repairs that ended up totaling very nearly another $250k...  Super nice guy, not often I feel sad for people that do that kind of thing.

aboatguy

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Re: 1 hour in a Ferrari = $288,000
« Reply #5 on: July 29, 2017, 07:13:59 PM »
On the road in the UK so probably insured.

lost_in_the_endless_aisle

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Re: 1 hour in a Ferrari = $288,000
« Reply #6 on: July 29, 2017, 07:51:22 PM »

Runner5

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Re: 1 hour in a Ferrari = $288,000
« Reply #7 on: July 30, 2017, 10:27:22 AM »
This happened just outside the city that I live in. In typical British Humour (TM), apparently when the police got there they asked the guy 'what make of car is it' and he replied 'well it WAS a Ferrari'.

Paul der Krake

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Re: 1 hour in a Ferrari = $288,000
« Reply #8 on: July 30, 2017, 10:51:25 AM »
Surely that would be covered under the owner's policy, right?

Looking at my GEICO contract, any vehicle I acquire is automatically covered under the same terms as the existing fleet, but I must notify them within 30 days (and they may adjust premiums). I assume it's the same in the UK.

So unless the owner only had liability coverage before picking up his Ferrari, that's a non-event for him financially.

TheGrimSqueaker

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Re: 1 hour in a Ferrari = $288,000
« Reply #9 on: July 30, 2017, 04:41:48 PM »
Surely that would be covered under the owner's policy, right?

Looking at my GEICO contract, any vehicle I acquire is automatically covered under the same terms as the existing fleet, but I must notify them within 30 days (and they may adjust premiums). I assume it's the same in the UK.

So unless the owner only had liability coverage before picking up his Ferrari, that's a non-event for him financially.

Anyone who could afford a Ferrari is probably beyond having to worry about the cost of insurance. At least that's what I hope.

JLee

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Re: 1 hour in a Ferrari = $288,000
« Reply #10 on: July 30, 2017, 06:46:35 PM »
Surely that would be covered under the owner's policy, right?

Looking at my GEICO contract, any vehicle I acquire is automatically covered under the same terms as the existing fleet, but I must notify them within 30 days (and they may adjust premiums). I assume it's the same in the UK.

So unless the owner only had liability coverage before picking up his Ferrari, that's a non-event for him financially.
Yep, it was very likely insured.

$288k is also ridiculous for a Ferrari 430. They're old now...apparently they're much more expensive in the UK? https://phoenix.craigslist.org/nph/cto/d/beautiful-ferrari-spider/6206144349.html

JayhawkRacer

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Re: 1 hour in a Ferrari = $288,000
« Reply #11 on: July 31, 2017, 10:49:53 AM »
Surely that would be covered under the owner's policy, right?

Looking at my GEICO contract, any vehicle I acquire is automatically covered under the same terms as the existing fleet, but I must notify them within 30 days (and they may adjust premiums). I assume it's the same in the UK.

So unless the owner only had liability coverage before picking up his Ferrari, that's a non-event for him financially.

Anyone who could afford a Ferrari is probably beyond having to worry about the cost of insurance. At least that's what I hope.

This is how I feel about fuel for big SUVs. I see people buying $70,000 SUVs and then complaining when gas goes up a dollar per gallon.

RWD

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Re: 1 hour in a Ferrari = $288,000
« Reply #12 on: July 31, 2017, 11:05:59 AM »
$288k is also ridiculous for a Ferrari 430. They're old now...apparently they're much more expensive in the UK? https://phoenix.craigslist.org/nph/cto/d/beautiful-ferrari-spider/6206144349.html

This was not your regular F430. It was the somewhat rare 430 Scuderia (maybe 1500-2000 built). Average price on the US Autotrader is $262k, so $288k is not unreasonable.

JLee

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Re: 1 hour in a Ferrari = $288,000
« Reply #13 on: July 31, 2017, 02:30:21 PM »
$288k is also ridiculous for a Ferrari 430. They're old now...apparently they're much more expensive in the UK? https://phoenix.craigslist.org/nph/cto/d/beautiful-ferrari-spider/6206144349.html

This was not your regular F430. It was the somewhat rare 430 Scuderia (maybe 1500-2000 built). Average price on the US Autotrader is $262k, so $288k is not unreasonable.

Ah, that would explain it.