Three thousand three hundred and sixty three dollars and fifty one cents: that's how much it costs to register a 2020 ferrari fa. Let's talk about it, so i made a video a couple weeks ago on my youtube channel about buying and reselling supercars. I've done that since the age of 18., not with supercars, i started with buying and reselling honda civics ford, mustangs, hyundai genesis and then, as i began to do better, i took that same concept and scaled it up to supercars. With that being said, a question as i planned to make around 30 to 40 000 profit reselling my ferrari f8.

The question was well: what about registration? What about ownership expenses? What about insurance? Let's go ahead and break it down. The whole focus of today's video is just because you begin to do well doesn't mean that you have to aimlessly blow all of your money. You can still enjoy your cars if you're a big car guy, but do it in an effective way, but you actually can either minimize how much money you lose and or actually turn it around for a profit. I hope you learned something new and, of course, consider subscribing.

So when it comes down to registration, that's one of the biggest expenses that a lot of people bring up of. You know what about sales tax? What about you know um in arizona with private party car sales, so you guys can look into it. Every state is different in arizona with private party sales, meaning person to person not to a dealership. There is no sales tax, so it's just registration.

On top of that, there's a b on top of that, i want you guys to be aware of this in arizona there is a registration refund. Give you an example. I just registered this car, let's say in march. Let's say i sell it in two months, but i paid for the full 12 months of registration.

I can go to adobe or to the arizona department of motor vehicles and actually request a refund on the pro-rated amount that is left with. That being said, i will get back 10 months out of the 12 months that i've used. It doesn't work out exactly to you, know the 3600 divided by 12 and then i get 10 of that back. It's prorated to some degree, but with that being said, it's still really cool to at least receive some form of refund after not owning the car for the entire 12 months.

I'm not too sure if all of my arizona people were aware of that. Now, let's talk about insurance, how much is it for a 27 year old? That's me: yes, i'm no longer 21, 22 or 23., i'm 27 years old. So how much is it a month to register um this vehicle? First off, i don't have the cleanest driving record. So i don't want to use that as an example, but i do have some stacked up discounts, one thing that adds the biggest discount and again this is just me sharing what what it is that i do not recommending it for anyone, but i want you guys To be aware, i have a multi-car discount.

I have multiple cars when it comes down to these cars. You guys know that i buy and sell them. I don't normally keep them for a full 12 months. So how many miles do i actually put in them? In a year, probably two to three thousand dollars per vehicle, i have a lamborghini, i have a ferrari.

I have a tesla. On average, i put about two to three thousand miles per vehicle. So with that being said, when it comes down to my insurance company, i make sure that they're aware that i only drive it about two to three thousand miles a year. On top of that, i have a multi-car discount and i have these kind of like a weekend car.

I have a primary car that again is more of a modest car, and then i have these cars that i have as vehicles on my policy that i only drive about two to three thousand miles a year. I'm not too sure if you've implemented this when it comes down to your insurance policy, but it's taken my and my friend's insurance policy way down, because we really do drive them very little, especially when it comes down to my driving habits. I drive to the gym. I drive to my office and i drive to chipotle, that's about it.

I don't really drive very far, especially not with these vehicles, so i want to make sure that my coverage falls within those means to ensure this ferrari. 2020. F8. I'll show you guys, the exact dollar amount with that being said again, not very expensive in comparison to what people think that it costs to insure a supercar, and one of the last things that you should ask is well how much is the maintenance? The question that everyone loves to ask and i'm just sharing based off of my experience - i'm not you know just the average person.

I guess, but i only keep these vehicles for about two to six months, so i normally try to buy them maintained. So i don't have to take on that expense, but yeah i've occasionally had to change, tires relatively yeah they're about twice as expensive as a normal vehicle. So you should take that into consideration when it comes down to like oil changes and stuff like that, i've only had to do an oil change in one of my supercars, and that was my mclaren 720s, and that was right above 3. 300.

I'm not mistaken. Yes, that is pretty expensive, but the way that i view it is if you've followed me for a while. You guys have seen the number of supercars that i've gone through from gtrs to audi r8s, to lamborghinis, to ferraris multiple ferraris, multiple lamborghinis and for me to have only had to have paid for one service. And it's because i chose to because i i could have sold it like that, but i wanted to keep the car for a little bit longer.

So i got it maintained. So, yes to some degree, maintenance is something that you have to take into consideration and you can always call that specific model of you know. I can call ferrari and be like hey um. How much is it to get this car serviced and they can give you a quote, so you can kind of factor that in before you make the decision of buying a vehicle, but you should also one thing that you can do in advance is make sure that Before you even buy a vehicle that it's been maintained, so you don't have to take on that expense, especially if you don't plan to keep it for a very long time.

It's only going to eat up into your margins. So yes, this car is maybe a little bit more expensive to maintain. Yes, of course, the registration's a little bit more to register. Yes, the car insurance.

Maybe it's not 50 a month like an average car, but there are still ways to make sure that you save a couple dollars. If you do it in an effective way. That's the whole purpose of this video. I love encouraging you guys that are beginning to do very, very well to not just be motivated by being able to afford these cars, but knowing that there's a way and a route to actually do it in a very cash effective way.

So i really hope that you guys learned something new in this video. If you guys did. I hope that i earned your thumbs up. Please consider subscribing, we can stay connected.

My instagram is going to be down in the description and, like always, let's make sure that we in the year on our green now take it easy.