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    Costs of driving a Ferrari

    http://www.sportscarmarket.com/articles/archives/939
    found through wcf

    Except the customizing of the car, it doesn't seem too pricey to own a Ferrari 550 for those that have a good income.

    Question to the owners of Ferraris on the board: what does it cost you per year to own your Ferrari (no fuel bills)?
    Porsche ownership costs, anyone?

    Re: Costs of driving a Ferrari

    Excellent article! It is right in line with what I read on Ferrari chat. The lesson to be learned: Don't let the passion blind you from the reality.

    Re: Costs of driving a Ferrari

    Wow. That particular 550 must have been a real POS. If you buy an F-car, you won't have to worry too much about depreciation but the services will hammer your wallet. Conversely, if you buy a Porsche, your car will depreciate badly but they are very reliable. Maybe it'll be a wash, one way or the other depending on the model you buy. Frankly, I'd rather pay for the depreciation on a new Porsche than shelling out chunks of money as a pre-owned Ferrari falls apart.

    Re: Costs of driving a Ferrari

    Like I always tell a lot of my new money friends who think they're balling, "Yes, you can buy a Ferrari, but can you afford to own one."

    I usually get a strange look in return. But once I break it down for them, they get what I'm saying -- perhaps I should stop talking in riddles.

    Re: Costs of driving a Ferrari

    Ferraris do very limited mileages because they need a lot of expensive maintenance, both routine and unscheduled, if used like normal cars. A Ferrari is not an automobile for transport really. It is a socio-economic stetement and a lifestyle object. Like an expensive watch or bag or garment it is not purchased for its functional role but for conspicuous consumption. In this case at hugely greater cost, however. If somebody needs to concentrate on the financial aspect of Ferrari ownership my advice to this person is to stay away.

    Re: Costs of driving a Ferrari

    Another large reason that Ferrari's tend to have low mileage is that high mileage ones do not sell. Thus most owners don't drive them too much.

    That said, you can buy an F-car, drive it a thousand miles over the course of a year and sell it on the for mostly the same price you paid for it minus consumables.

    Re: Costs of driving a Ferrari

    Quote:
    Moogle said:
    Another large reason that Ferrari's tend to have low mileage is that high mileage ones do not sell. Thus most owners don't drive them too much.

    That said, you can buy an F-car, drive it a thousand miles over the course of a year and sell it on the for mostly the same price you paid for it minus consumables.


    Yes, this strengthens my point that it is not an automobile and it shouldn't be compared to cars. Like I wrote above it is statement of socio-economic class and an object of desire. Similar to a wealthy man who is with a supermodel or a film star. It is not the quality of such relationship or the gratification he gets (which in most cases are very low) that count but it is the image and the conquest of a trophy.

    Re: Costs of driving a Ferrari

    I drove my 88TR 155K miles
    All in it cost $2.50 per mile not including gas/Insurance

    Re: Costs of driving a Ferrari

    An F-car under warranty will be next to zip in repairs/maintenance. That's providing it's used as only a "fun" car without much mileage.

    Once the warranty is out you start to roll the dice a lot more.

    Re: Costs of driving a Ferrari

    Out of warranty yeah you really start to roll the dice. Its the reason so many 456 automatics were sold. They had a warranty. Today a 456 auto with transmission problems is a parts car. What will 360's be when the cost of repairing the floppy paddle shift system exceeds 33% of the cars value? If you think that sound ridiculous just wait a couple of years.

    Re: Costs of driving a Ferrari

    When I finally move out of Japan I will buy a Ferrari - I will order, wait two three or whatever years I have to and then drive it until my kid is 25 - providing he is not an [beep] he can have it : )

    Re: Costs of driving a Ferrari

    Sadly they won't even take your name on the list... Cash is king.

    Re: Costs of driving a Ferrari

    So does anyone expect Ferrari to ever improve on this 'poor build quality' or will we likely to see the samething ten years from now?

    Re: Costs of driving a Ferrari

    Quote:
    JoeRockhead said:
    Wow. That particular 550 must have been a real POS.



    There must have been more "particular" 550s. A business partner of mine told me true horror stories a decade ago.
    He told me that after the expiration of the factory warranty he basically had a brandnew car again (new transmission, new engine...I can't recall the endless list anymore). Most awful experience for him was to be stuck in the middle of nowhere at an passroad in the Alps. At least the service was excellent: Maranello sent a mechanic via helicopter in no time The same mechanic flew to Cologne more than once to fix problems which the dealership/shop was not able to fix. The owner took it with good humor though: "I'm feeling like Schumi with my own mechanic from Maranalleo"

    Re: Costs of driving a Ferrari

    I have almost 12000 miles on my 2006 430. Took delivery Dec. 2005. My cost has been $1100 for the 5000 mile check up/oil change. I also replaced the two back tires for $900.

    Recently, I was offered a price to sell it which was considerably higher than what I paid for it.

    Not too bad.

    Re: Costs of driving a Ferrari

    Quote:
    nberry said:
    Recently, I was offered a price to sell it which was considerably higher than what I paid for it.

    Not too bad.



    Hooray for stupidity !

    Seriously, Ferraris are really nice cars, but I'd never pay over MSRP for one (or any car for that matter).

    Re: Costs of driving a Ferrari

    Quote:
    nberry said:
    I have almost 12000 miles on my 2006 430. Took delivery Dec. 2005. My cost has been $1100 for the 5000 mile check up/oil change. I also replaced the two back tires for $900.

    Recently, I was offered a price to sell it which was considerably higher than what I paid for it.

    Not too bad.


    With this kind of luck you should relocate to Las Vegas

    Re: Costs of driving a Ferrari

    good remark, If have owned a Ferrari 550 and a Ferrari 360 F1, sold the F550 with 21.000 km after quit some repair costs. The original article could be a copy of the "small" problems I had. The depreciation of the 550 was unbelievable!!. The 360 was a bit better, but after 18.000 Km there was a noise in my gear box. This was just 2 month after the 3 year extended warrantee ended. According to the dealer the gearbox need to be repaired in Italy. To make a long story short after 6 weeks I ended up with a rebuild gear box. A repair bill in 5 digit range, had not seen this before! Sold this car as well, the depreciation of a 360 is much less compared to a 550, actually pretty decent.
    Although the cost of owning and driving a Ferrari is very high, still for a car lover, it is a dream to drive such a car. At the moment I am waiting for my R8 (will come in 2 weeks) let's hope this a better car to drive every day with a bit more favorable maintenance costs.

    Re: Costs of driving a Ferrari

    Running a 430 for 8.000 km in a year, with all costs (interest, fuel, insurance etc.) it's Euro 25.000,-- or Euro 3,12/km.

    Re: Costs of driving a Ferrari

    Quote:
    reginos said:
    Quote:
    nberry said:
    I have almost 12000 miles on my 2006 430. Took delivery Dec. 2005. My cost has been $1100 for the 5000 mile check up/oil change. I also replaced the two back tires for $900.

    Recently, I was offered a price to sell it which was considerably higher than what I paid for it.

    Not too bad.


    With this kind of luck you should relocate to Las Vegas



    It has nothing to do with luck. It has more to do with much better quality in the more recent models which dispel the public perception that Ferrari's are expensive to maintain. They are not.

    Shall I articulate my maintenance cost for the Cayenne? How about $1700 for brakes or at 60,000 miles an inspection which cost $600? Or the Carden shaft that broke once my car went out of warranty? Or shortly thereafter all the spark plug coils going bad. Or the horn going bad (which I rarely have ever use)

    Re: Costs of driving a Ferrari

    Quote:
    nberry said:
    Quote:
    reginos said:
    Quote:
    nberry said:
    I have almost 12000 miles on my 2006 430. Took delivery Dec. 2005. My cost has been $1100 for the 5000 mile check up/oil change. I also replaced the two back tires for $900.

    Recently, I was offered a price to sell it which was considerably higher than what I paid for it.

    Not too bad.


    With this kind of luck you should relocate to Las Vegas



    It has nothing to do with luck. It has more to do with much better quality in the more recent models which dispel the public perception that Ferrari's are expensive to maintain. They are not.

    Shall I articulate my maintenance cost for the Cayenne? How about $1700 for brakes or at 60,000 miles an inspection which cost $600? Or the Carden shaft that broke once my car went out of warranty? Or shortly thereafter all the spark plug coils going bad. Or the horn going bad (which I rarely have ever use)


    I don't dispute your good experience (and I sure hope it continues). Nevertheless, you are in a minority! It is not only that major issues arise often but also the cost of parts which is absurd. I am not dismissing the F brand but what I am saying is that if someone wants to use it as a car and cover miles and not as a trophy in the garage, then the ownwer must be prepared to allocate a good amount of cash for repairs and maintenance.

    Re: Costs of driving a Ferrari

    Reading that article made me think that the mechanics are inventing problems to take money out of the owner's pocket.

    I like Ferraris, but I have to excuse whatsoever for the factory to produce a car that goes bad so often.

    Re: Costs of driving a Ferrari

    Quote:
    MarekN said:
    Reading that article made me think that the mechanics are inventing problems to take money out of the owner's pocket.

    I like Ferraris, but I have to excuse whatsoever for the factory to produce a car that goes bad so often.



    I dont think Maranello fectory have been doing what you just said. From my experience with their products, it is clearly seen that they have kept improving their cars as always. Please be fare guys!!!.

    Thats the fact,

    Re: Costs of driving a Ferrari

    We are not still in the 80s guys (well I am, but that's another story) - Ferrari's build quality has improved vastly since the 355 (though there are F1 gearbox issues with 355 and 360), and the latest generation is a solid build.

    This, along with Ferrari's new car warranty, and the news of the 4 year used car warranty for cars less than 9 years old, means owning a recent F car is far cheaper than it used to be compared to older models.

    But when things do go wrong, if you have not got a warranty you can find a good independent dealer who charges less labo(u)r rates than the main dealers.

    Owning an F car can be a good thing...

    Re: Costs of driving a Ferrari

    Quote:
    nberry said:
    Quote:
    reginos said:
    Quote:
    nberry said:
    I have almost 12000 miles on my 2006 430. Took delivery Dec. 2005. My cost has been $1100 for the 5000 mile check up/oil change. I also replaced the two back tires for $900.

    Recently, I was offered a price to sell it which was considerably higher than what I paid for it.

    Not too bad.


    With this kind of luck you should relocate to Las Vegas



    It has nothing to do with luck. It has more to do with much better quality in the more recent models which dispel the public perception that Ferrari's are expensive to maintain. They are not.

    Shall I articulate my maintenance cost for the Cayenne? How about $1700 for brakes or at 60,000 miles an inspection which cost $600? Or the Carden shaft that broke once my car went out of warranty? Or shortly thereafter all the spark plug coils going bad. Or the horn going bad (which I rarely have ever use)



    Quite interesting to compare the maintenance cost after 12k miles on one car to 60k miles on the other... I guess the real eyeopener would be to hear the cost for the F-car after 60k miles. Ok ok, unfair question, there's no F-car with so many miles on the clock

    Re: Costs of driving a Ferrari

    Quote:
    boytronic said:
    We are not still in the 80s guys (well I am, but that's another story) - Ferrari's build quality has improved vastly since the 355 (though there are F1 gearbox issues with 355 and 360), and the latest generation is a solid build.

    This, along with Ferrari's new car warranty, and the news of the 4 year used car warranty for cars less than 9 years old, means owning a recent F car is far cheaper than it used to be compared to older models.

    But when things do go wrong, if you have not got a warranty you can find a good independent dealer who charges less labo(u)r rates than the main dealers.

    Owning an F car can be a good thing...


    With the typical low usage of Ferraris, a very small sample of current models has reached any significant mileage yet. So no conclusions can be drawn yet. Dubious reliability must also be viewed in conjunction with the very high (ridiculous in fact) cost of parts. Check the cost of suspension parts, fuel tanks, body panels, even the F emblems on the wings and he wil be put off unless you are a money no object type of person. A vehicle should be used without fear of financial disaster and not to be treated like the proverbial "crown jewels".

     
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