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Money Drain: $3.6 Million lost in the Ferrari Pile-up in Japan

Several news sites are a buzz with the news about the Ferrari pile-up in Japan that happened yesterday. Wired posts some more details about the crash:

The massive mess destroyed about $3.85 million worth of lustworthy cars and a Toyota Prius late Sunday morning on rain-soaked Chugoku Expressway. The supercars were part of a 20-car convoy heading from Kyushu to Hiroshima when the lead driver, a 60-year-old businessman in a Ferrari F430 Scuderia, lost control on the wet pavement.

The convoy speeding through the western prefecture of Yamaguchi included an assortment of Ferraris, a Lamborghini Diablo, a Nissan GT-R and a Mercedes-Benz CL 600. These weren’t kids, either. Police said the drivers were all between 37 and 60, and you know they had money — even a used Ferrari runs six figures in Japan, and no more than 500 Ferraris were sold in the country last year.

According to a witness they were speeding 85-100mph on a wet highway.

Lesson Learned:
I don’t even know what to say about this one. It seems like a case of Jonesing and showing off. Not only do you not need this type of equipment, but you certainly don’t need to be reckless with it.

Amount Flushed Down the Money Drain: $3.6 million

About Crystal Groves, Google+

Crystal Groves is a farmer, web developer, musician, blogger, and personal finance enthusiast from the back hills of Maryland and Pennsylvania. She started Money Drain as a project to encourage people interested in fixing their financial situation to share their stories and learn from the stories of others. We all make mistakes, but in order to change we have to make changes.

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