Abandoned Ferrari Enzo???

I just read a pretty sad report online about an abandoned Ferrari due to be auctioned off estimated to bring $1,000,000 to the Dubai police force via impound. My concern is how poorly the Enzo was cared for. They couldn't even clean it??? This kinda makes you dislike cops don't it?www.motorauthority.com... oned-in-dubai

It's gotta be hard on the guy who had to walk away from a $2,000,000 super car. It Is said that a British citizen fleas the area after he couldn't pay the impound fees and left the car to collect dust. I'm just going with what I know but if anyone has any idea on who the original owner was or if the car has been sold yet, let me know.

I would rather they didn't clean it. Simply because it will more likely go for a lower price. Only 400 Enzo's were made so it shouldn't be that hard to locate who the car belonged to. It was one of my fav cars in Test Drive unlimited.

If you dont pay your debts in Dubai you go to prison.

These cars left at airports and parking lots are abondoned by people who can no longer pay for them. So rather than go to prison, they leave the country and the car.

When the Dubai economy hit the skids there were tales of luxury motors abandoned at the airport as many of the people who had made a fast buck in the good times baled out when the squeeze happened, leaving behind anything that couldn't fit in the hold.

Source

The above article goes on to talk about how Saatchi and Saatchi did an advertising campaign for Dubai Metro using the abandoned cars as billboards;



Talk about turning a negative into a positive!

Originally posted by paranormal78
I just read a pretty sad report online about an abandoned Ferrari due to be auctioned off estimated to bring $1,000,000 to the Dubai police force via impound. My concern is how poorly the Enzo was cared for. They couldn't even clean it??? This kinda makes you dislike cops don't it?www.motorauthority.com... oned-in-dubai

It's gotta be hard on the guy who had to walk away from a $2,000,000 super car. It Is said that a British citizen fleas the area after he couldn't pay the impound fees and left the car to collect dust. I'm just going with what I know but if anyone has any idea on who the original owner was or if the car has been sold yet, let me know.

Makes me dislike the owner, not the cops.

Maybe you are ok paying your local cops to do detail work on cars,I want my tax money paying for them doing their job: catching criminals.

The owner is the moron. Leaves one if the most exclusive cars in the world in a mess, can't bother to pay his impound fee, then walks away from the car. He paid over a mill for the car, of course he could afford impound fees.

reply to post by nightbringr


As previous posters have pointed out Dubai has debtor prisons and if the person was in financial trouble and kicking about in an enzo then you can bet the debt wasnt a few grand. Its a sign of the boom bust mentality of the state, it was all build up on nothing, Dubai is nothing more than a folly

The owner is the moron.

reply to post by nightbringr


I agree with that. I guess that was a check to big for that Brit to cash I know I'm never getting a car that's even close to that price range.

If you dont pay your debts in Dubai you go to prison.

Damn when it comes to the economy Dubai doesn't mess around. I bet if there was a debt law like Dubai's, America and other countries Might not be in such a bad economic state. one of the main reasons the economy is so rough is because people abused credit by buying houses & cars they couldn't afford to finish paying off, or they overused bad credit. Sorry I know this thread of mine is pretty old by now but I haven't been on ATS much recently.

Looks like a haboob passed through there while it was parked. I don't see anything in article that proves otherwise. I am in az and we get sandstorms that can leave your car looking like that was well.

Ouch

originally posted by: paranormal78

If you dont pay your debts in Dubai you go to prison.

Damn when it comes to the economy Dubai doesn't mess around. I bet if there was a debt law like Dubai's, America and other countries Might not be in such a bad economic state. one of the main reasons the economy is so rough is because people abused credit by buying houses & cars they couldn't afford to finish paying off, or they overused bad credit. Sorry I know this thread of mine is pretty old by now but I haven't been on ATS much recently.

FALSE.

The economic crisis was caused by predatory lending, bundling of subprimes and bad regulations designed to help 'underprivileged' people get loans they never would have qualified for in more sensible times.

Individual responsibility is a part, yes, but you don't give a kindergartner a steak knife.

Predatory lending practices are a huge deal these days, since the banks realized they can make better earnings off screwing people rather than fair lending practices.

originally posted by: nightbringr

Originally posted by paranormal78
I just read a pretty sad report online about an abandoned Ferrari due to be auctioned off estimated to bring $1,000,000 to the Dubai police force via impound. My concern is how poorly the Enzo was cared for. They couldn't even clean it??? This kinda makes you dislike cops don't it?www.motorauthority.com... oned-in-dubai

It's gotta be hard on the guy who had to walk away from a $2,000,000 super car. It Is said that a British citizen fleas the area after he couldn't pay the impound fees and left the car to collect dust. I'm just going with what I know but if anyone has any idea on who the original owner was or if the car has been sold yet, let me know.

Makes me dislike the owner, not the cops.

The owner is the moron. Leaves one if the most exclusive cars in the world in a mess, can't bother to pay his impound fee, then walks away from the car. He paid over a mill for the car, of course he could afford impound fees.

The owner is not the moron, the morons are the officials that run a country with debtors prisons. Very few people buy these cars cash, so it was most likely a financed vehicle. The owners of these cars were mostly wealthy foreign executives from Europe and the US. When hard financial times hit in a normal nation, people have some time to try and sell off assets. Even when the creditors come knocking, one can declare bankruptcy, which stops certain proceedings and allows time for them to liquidate and settle as much debt as possible. Selling the car at fair market value at the time would obviously clear far more money than auctioning it after it's been left to rot. So perhaps 70-90% of the actual debt gets cleared.....

A nation sete up debtor prisons, and the person will use their last $1000 to get a plane ticket out of the backward middle-eastern country.

The rightful owner of the car is the bank, and the person who financed the car is rightfully owed the proportional value of the principal they had paid toward the car. THAT'S JUSTICE, but none of that happened here, just the gov't gets to seize the vehicle which was left in a sad state.

These expensive rare vehicles should have been taken to impound warehouses where they at least were kept out of the elements and if the bank or buyer ever did claim the vehicle they would owe storage costs. This would have protected the value of the asset also for the gov't to reap a better price at auction if/when it came to that.

In other words, backwards country is backwards.