Success + exotic car = Sued?

[chrisbiz4444]

Success + Exotic car = Sued?

(How do you protect yourself and your assets)

This question may puzzle many of you at its face value. However there is much more substance to this question.
After speaking to many wealthy and successful mentors I have learned many of them want to keep a low profile. They avoid flashy cars and camouflage their wealth to the general public. After asking the reasoning for this their response was " Once people know you have money they will become sue happy". I can understand the logic behind this thought process and its truly disgusting to think people can behave in such a way.

This bothers me, like many here I have a passion for exotic cars. They are art in my opinion and I know many of us here aspire to own one. The reason I took this topic to the fastlane forum is because I have noticed many people here are exotic car owners. What better place to learn the truth right? Is it true that people will become sue happy out of jealousy or spite? Or is this simply a myth? What are your experiences as an exotic car owner? And if the ladder really is true how do you protect yourself from sue happy haters?

 

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[throttleforward]

We had a call in my EMS system where a city bus ran into the back of the car in front of it at very low speed. There was virtually no chance that anyone was hurt. When the medic got to the bus, literally everyone on the bus was complaining of neck and back pain, and that everyone wanted to go to the hospital. When the medic informed the bus passengers that 1) everyone would have to be put on a hard backboard with a neck collar to "protect" their "damaged cervical spine", that 2) because this was now a mass casualty scene everyone would have to wait quite a bit of time on those uncomfortable backboards for ambulances, and 3) that they had up to 3 days to get evaluated in the ER if they were planning on suing the city, suddenly no one wanted to go to the hospital.

So yes, people act differently when they see dollar signs.

 

[jon.a]

People do become sue happy.
No experience with exotics, nor will there be.
Good attorneys.

 

[DeletedUser2]

They avoid flashy cars and camouflage their wealth to the general public.

so some friends took me aside once and said, if people know you have money, you become a target. in 3rd world countries. you or your family gets kidnapped for ransom. people target you, your rooms at resorts etc

I don't do flashy. BIG target. when you have kids. you almost want to be invisible.

Z

 

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[jon.a]

We drive a 1995 Dodge Ram 1500. In this small town, too many know where we live. Even a Vett would be awkward in the drive.

 

[mememan]

I have no love for cars, but yes, keep a low profile. Actually, you'd be better for getting a sweet rental every now and then. You get variety without having to deal with insurance, titles, etc.

 

[chrisbiz4444]

so some friends took me aside once and said, if people know you have money, you become a target. in 3rd world countries. you or your family gets kidnapped for ransom. people target you, your rooms at resorts etc

I don't do flashy. BIG target. when you have kids. you almost want to be invisible.

Z

Same advice my mentors have told me. Its almost like you cant even enjoy yours success fully or live out some of your "monetary dreams" without the fear of someone trying to take everything you have worked hard for from you. Really disappointing. People who create value in society should be respected.

After reading MJ's book we know he had the dream of owning a Lamborghini. Which he eventually made become reality. It would be nice to know how he approached some of the problems discussed in this thread.

Is it best to make a lot of lawyer friends LOL! ? ( Joke with some truth behind it )

 

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[dknise]

Little tip for everyone here on the forum... invest in getting a car dashboard cam. The third time we took out my mentor's 458 Italia, a car at a red light put their car into reverse and backed up into his car. If it weren't for the on board video we had of the incident, he would have been held responsible.

 

[healthstatus]

Is it just best to make a lot of lawyer friends LOL! ? ( Joke with some truth behind it )

I worked for a guy that hired the best attorney's in town to do little (really little) jobs for him, since he was now a client, he never got sued by those attorney's so he had the best at his disposal and everyone else had the leftovers....

 

[chrisbiz4444]

I worked for a guy that hired the best attorney's in town to do little (really little) jobs for him, since he was now a client, he never got sued by those attorney's so he had the best at his disposal and everyone else had the leftovers....

Due to Conflict of interest?

 

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[healthstatus]

Due to Conflict of interest?

Yes.

 

[chrisbiz4444]

Yes.

Smart move

 

[Lathan]

a car at a red light put their car into reverse and backed up into his car

You mean he intentionally backed in to the 458? That is absolutely disgusting. Do you care to share more? Did you guys pull to the side of the road with the other car and ask him what the hell his problem was? Did he feel like an idiot when you told him it was on film?

 

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[RHL]

Little tip for everyone here on the forum... invest in getting a car dashboard cam. The third time we took out my mentor's 458 Italia, a car at a red light put their car into reverse and backed up into his car. If it weren't for the on board video we had of the incident, he would have been held responsible.

Some scumbag tried this when I was out test driving a sports car last year. Backed her beat-to-hell 10-year old Escalade with a "Safe Auto" insurance bumper sticker right into the car at a red light. Got out screaming at me about how I didn't know where I was going, I better be able to pay for this (What, a whole $3,000 for the car? Lol) etc.

Sadly for her, the young woman in my passenger seat with the Russian accent wasn't my wife or girlfriend: She was the sales rep from the dealership. When our cards were on the table, that we were unrelated parties with no interest in lying about what happened, slimeball bolted screaming "I aint got no insurance." iPhone 5. Prada bag (probably fake). Escalade with giant rims. No insurance.

Maximum sidewalk.

Police caught her like 3 blocks later, she got thrown in jail for resisting arrest, and got about $1,500 worth of tickets for driving with a suspended license, driving without insurance, driving without updated registration, driving with a motor vehicle inspection, and a bunch more.

Too bad the dealer had to claim the damage against their own insurance; given that it was Friday evening, doubtless the perp's $60 net worth had already been reduced to zero by the purchase of a pile of lotto scratches.

The moral of this story is that I have a 2 mile commute to work in a crime free area, but I either bike or take my Honda Insight rather than my Viper or Corvette. Guess why.

 

[mayana]

Its almost like you cant even enjoy yours success fully or live out some of your "monetary dreams" without the fear of someone trying to take everything you have worked hard for from you. Really disappointing. People who create value in society should be respected.

It's exactly like this, not even almost. People are always jealous of even the smallest difference between you and them, so I totally agree with the idea of keeping a low profile. Learn how to enjoy the fruits of your labor discreetly, or in places where you don't stick out like a sore thumb.

This is something that has been on my mind a lot lately.

 

[smarty]

You mean he intentionally backed in to the 458? That is absolutely disgusting. Do you care to share more? Did you guys pull to the side of the road with the other car and ask him what the hell his problem was? Did he feel like an idiot when you told him it was on film?

it happens all the time in Russia. that's why most Russians have a dash cam in their car.

 

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[DeletedUser394]

it happens all the time in Russia. that's why most Russians have a dash cam in their car.

but that's more so because most Russians can't drive lol.

Edit: and corruption

 

[smarty]

but that's more so because most Russians can't drive lol.
Edit: and corruption

both can be true to some degree

 

[chrisbiz4444]

Some scumbag tried this when I was out test driving a sports car last year. Backed her beat-to-hell 10-year old Escalade with a "Safe Auto" insurance bumper sticker right into the car at a red light. Got out screaming at me about how I didn't know where I was going, I better be able to pay for this (What, a whole $3,000 for the car? Lol) etc.

Sadly for her, the young woman in my passenger seat with the Russian accent wasn't my wife or girlfriend: She was the sales rep from the dealership. When our cards were on the table, that we were unrelated parties with no interest in lying about what happened, slimeball bolted screaming "I aint got no insurance." iPhone 5. Prada bag (probably fake). Escalade with giant rims. No insurance.

Maximum sidewalk.

Police caught her like 3 blocks later, she got thrown in jail for resisting arrest, and got about $1,500 worth of tickets for driving with a suspended license, driving without insurance, driving without updated registration, driving with a motor vehicle inspection, and a bunch more.

Too bad the dealer had to claim the damage against their own insurance; given that it was Friday evening, doubtless the perp's $60 net worth had already been reduced to zero by the purchase of a pile of lotto scratches.

The moral of this story is that I have a 2 mile commute to work in a crime free area, but I either bike or take my Honda Insight rather than my Viper or Corvette. Guess why.

So how do you actually enjoy your cars? Do you always have the anxiety of dealing with such B.S while simply trying to enjoy a cruise?

 

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[RHL]

So how do you actually enjoy your cars? Do you always have the anxiety of dealing with such B.S while simply trying to enjoy a cruise?

I haven't worried about the various Corvettes too much. Like, on a nice day when they're all clean you might get a thumbs up at the gas station, but people tend to leave them alone around here, I never worry about parking near other cars or anything.

The Viper, I dunno too much yet. It's spent most of my ownership period snowed into the garage; the battery tender has spent more time in the car than I have. The times I have driven it around it's had some clench-inducing moments, but I guess the main things are that I have good insurance and even if I didn't, the money it cost isn't going to put me in the poor house if it evaporates. I can't imagine trying to enjoy an exotic on the road if you had financed it up to your eyeballs or something.

If it's worth MJ or some of the Italian/German exotic owners time to answer, they'd probably have a clearer picture. From non car people, I get "What is that" a lot more than I get the kind of overwhelming reactions you'd get to a brand everyone knows. Might be a good argument for an Aston Martin-not many average people know what they are.

 

[parkerscott]

Some scumbag tried this when I was out test driving a sports car last year. Backed her beat-to-hell 10-year old Escalade with a "Safe Auto" insurance bumper sticker right into the car at a red light. Got out screaming at me about how I didn't know where I was going, I better be able to pay for this (What, a whole $3,000 for the car? Lol) etc.

Sadly for her, the young woman in my passenger seat with the Russian accent wasn't my wife or girlfriend: She was the sales rep from the dealership. When our cards were on the table, that we were unrelated parties with no interest in lying about what happened, slimeball bolted screaming "I aint got no insurance." iPhone 5. Prada bag (probably fake). Escalade with giant rims. No insurance.

Maximum sidewalk.

Police caught her like 3 blocks later, she got thrown in jail for resisting arrest, and got about $1,500 worth of tickets for driving with a suspended license, driving without insurance, driving without updated registration, driving with a motor vehicle inspection, and a bunch more.

Too bad the dealer had to claim the damage against their own insurance; given that it was Friday evening, doubtless the perp's $60 net worth had already been reduced to zero by the purchase of a pile of lotto scratches.

The moral of this story is that I have a 2 mile commute to work in a crime free area, but I either bike or take my Honda Insight rather than my Viper or Corvette. Guess why.

Absolutely sickening, and im going to bed pissed now. This is just one story, and to think there are millions upon millions of similar situations like this, and that people are actually responsible for the actions is disgusting. Very few people in this world have integrity nowadays. I could probably go through a list of several hundreds of acquaintances from highschool, and very very few would make the cut for outstanding character and good morals.

 

[GravyBoat]

The third time we took out my mentor's 458 Italia, a car at a red light put their car into reverse and backed up into his car.

I'm fuming because of this. If this happened to me, I'd have worse matters on my hands for assaulting the driver of the other car.

Kidding, but wow do those stories piss me off!!!

 

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[Tommy92l]

You come across people who have nothing but big bank accounts. No exotics, no big houses, average TV sizes, and on the rare occasion, a vacation.

Not like it's my business, but sometimes you can't help but think "What do they spend their money on?".

I have a friend who's Grandfather was a postal worker, but a genius in the stock market. Total millionaire, and lives exactly the way described. For whatever reason, you kind of respect it more. As if making money is a game to them.

 

[Vigilante]

I was rolling like a big man at a casino a few years ago, and made myself a target for an attempted scam. This isn't limited to the car you drive. It's the watch you wear, it's the champagne you order, and the average bet at the blackjack table.

That's why when you see me on the beach, you'll never know. The richest guy I will EVER know sat down on the beach chair next to me wearing a pair of board shorts and a ratty tee shirt. He could have paid for people to carry him to the beach in a roman chariot.

At some point, displaying the gold doesn't satisfy any more. Giving it away never gets old, though.

 

[RHL]

I love giving to charity. One of my farther off dreams is to help fund a boarding school in the lower income area where I grew up to help some of the people there break free of the toxic crime-and-debt environment.

For me though, with the cars, I live in a fairly rural area. Nobody here has exotics, I could look like the big man on campus with a Corvette Grand Sport or an M3. My problem is that I don't love to be seen stuntin around town in cars, or to be photographed in cars, or to feel rich because I have cars, but that I love fixing and driving cars. I do all my own work, clutch, diff, valves, everything, just so I can carve up the lonely road along the river.

That's why this is all so sad-It's just a hobby that happens to cost a lot, so I have to do less driving than I want to keep a low profile.

 

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[nitrousflame]

Little tip for everyone here on the forum... invest in getting a car dashboard cam. The third time we took out my mentor's 458 Italia, a car at a red light put their car into reverse and backed up into his car. If it weren't for the on board video we had of the incident, he would have been held responsible.

I will second this and I don't even drive anything fancy. I've had a dashcam for about two years now and it has caught quite a few things. I honestly almost feel naked driving without one now.

 

[Genium]

Hmm I wonder about all the supercar owners here in Scottsdale.. I am a car fanatic, and I am going to own something awesome. I am just going to do my due diligence to protect myself as much as I can, and pick good times to drive it.

 

[Kak]

Little tip for everyone here on the forum... invest in getting a car dashboard cam. The third time we took out my mentor's 458 Italia, a car at a red light put their car into reverse and backed up into his car. If it weren't for the on board video we had of the incident, he would have been held responsible.

F*ck that guy. I would sue him into bankruptcy. Piece of shit. Some people don't deserve to live.

On another note. What kind of dashcams do y'all use?

 

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[MJ DeMarco]

You can't live your life in fear.

If you want to own one of these cars, do it. Experience it. Enjoy the thrill of ownership and the thrill of walking out into your garage and say "Yea baby, that shit is mine!"

As for the title of this thread, it's part of the reason why I sold my Lambo nearly 2 years ago. That thrill wore off. As I mentioned elsewhere, the day I knew it was time to sell was when we had 4 or 5 days of consecutive sunshine and 80 degree weather. Instead of driving the Lambo, I opted for the truck.

The car simply added too much drama in my life... from the retarded street racers in their fart can Hondas to the tailgators, to the haters who smash your windshield in while you take a bathroom pitstop.... the drama of ownership simply exceeded the thrill.

Almost 2 years later I must say, I don't miss it. Of course, that could change in the future -- sometimes when I see one of these cars in person, the bug enters my mind for a minute or two and then disappears. At the moment, the only car that remotely interests me is the Aventador Roadster and I'm not the type to pay over MSRP for a car.

 

[theTAXpert]

I agree with MJ, this is why Insurance exists, granted I would be pissed if somebody did that on purpose.

Enjoy what you've got, and take life one step at a time. Can't worry about something, unless it happens, you'll drive yourself crazy.