Considering jumping in to a 458, advice? | Page 2 | FerrariChat

Considering jumping in to a 458, advice?

Discussion in '458 Italia/488/F8' started by Ndlauer1027, Dec 26, 2020.

This site may earn a commission from merchant affiliate links, including eBay, Amazon, Skimlinks, and others.

  1. Chadly

    Chadly Formula Junior

    Mar 21, 2010
    294
    Bothell, WA
    Full Name:
    Chad
    5 vehicles? Impressive. If you bought the vehicle in Montana to avoid paying sales tax and leased it back to where ever you live you would be responsible for the taxes where it was leased. What you explained is tax evasion. Unless of course you don't realize you are still paying tax where the car is located because you financedand you just see a "payment". If that's the case then you just aren't very smart and paying extra taxes because you tried to avoid paying the sales tax rate where you are. I am extremely familiar with the tax laws behind leasing. Anyone who posts on here throwing in completely useless information to make it seem like they are more special than the next guy belongs in the Lamborghini forum. Have fun in your few Escalades! I think you should pass on 458 ownership. We don't have anymore room for ****** bag Ferrari owners. I took the last spot
     
    NuorderSG and IloveGT like this.
  2. Ndlauer1027

    Ndlauer1027 Rookie

    Dec 26, 2020
    17
    Full Name:
    Neil Lauer
    This is actually interesting. What is the allure of the 458 over the 488? Strictly the engine differences?
     
  3. Ndlauer1027

    Ndlauer1027 Rookie

    Dec 26, 2020
    17
    Full Name:
    Neil Lauer
    Again, you have no idea what the structure of what I would be doing is, but thanks again for your kind consideration. The arrogance of someone like you is a primary reason exotic car owners get a bad reputation. Thanks for being kind and welcoming.
     
  4. rockminster

    rockminster Formula Junior
    Silver Subscribed

    Nov 20, 2003
    874
    Lake Tahoe
    For the most part, yes, plus some subjective aesthetic differences. Also, the 458 is a tad smaller, which is valued by some as these cars get bigger with each cycle. There are endless threads on this topic.


    Sent from my iPhone using Tapatalk
     
  5. Ndlauer1027

    Ndlauer1027 Rookie

    Dec 26, 2020
    17
    Full Name:
    Neil Lauer
    I do like the look of the 488 and it felt comfortable to sit in as I’m on the taller side. In my mind I think the spider is my preference and reality is I just don’t want to spend the extra money on a 488 spider over a 458 as I’ve never been down this path previously. Don’t know if I’ll love it or hate it but I’ve wanted one long enough so it’s time to give it a shot.
     
  6. Boots

    Boots Formula 3

    Jan 17, 2020
    1,663
    Canada
    Full Name:
    Jake
    I'm a nubie on Fchat so take what I say with a grain of salt, however I spend tons of time trying to learn the market and the overall bigger conversation of about where the car world is at...So here's my two cents of the 458 desirability at the moment. 458 is the last NA V8 from Maranello, now 488's sort of blend into competition with all other turbocharged V8's. Design wise, 458 is timeless and elegant and has not aged a day, this is likely because its designed by Pininfarina. Whereas 488 was not. I could go on, but I'd be here for hours!
     
    xfrgtr likes this.
  7. Nigel glen

    Nigel glen Rookie

    Oct 16, 2020
    36
    UK
    Full Name:
    Nigel glen
    I’d forget about the running costs if I were you - otherwise every mile you drive will be one you regret in case it’s knocking value off the car. And you will almost certainly lose on depreciation.

    After some bad experiences I am beginning to doubt the Ferrari approved car scheme and the Ferrari dealer servicing - I think you get taken for granted and, frankly, taken the mickey out of.

    BUT you are going to be driving a Ferrari 458 spider and they are amazing. It’s a bonus that they are really reliable - I’d have bought mine anyway just for the looks and performance. Life’s too short and you won’t get today back.


    Sent from my iPad using FerrariChat.com mobile app
     
  8. Ndlauer1027

    Ndlauer1027 Rookie

    Dec 26, 2020
    17
    Full Name:
    Neil Lauer
    Agree that we only live once and we might as well enjoy it. Interesting on the dealer services. Are you comfortable going to any Euro type garage for simple maintenance?
     
  9. Tarek307

    Tarek307 Formula 3
    Silver Subscribed

    Sep 26, 2018
    1,294
    Long Beach, CA & Alexandria,Egypt.
    Full Name:
    Tarek Salah
    you can absolutely take your car to an independent mechanic for service, not sure where you are but here in socal you have Fast Cars LTD which is an excellent shop.

    The 458 is a great solid car, only thing i'd worry about and that goes with all years 2010-2015 is the trans sensors, the good news is its not a hugely expensive fix anymore under $10,000 but i would suggest having that in an emergency fund- Also any 458 you are interested in MAKE SURE when you test it, that the car is HOT & already driven at least 20 miles before you inspect it / and get a complete scan on STORED CODES not just a simple OBD scan.
     
  10. bobbypagos

    bobbypagos Rookie

    Dec 18, 2020
    23
    Full Name:
    Bobby Pagos
    I’m new to exotics as well and on the hunt for my first Ferrari. I choose 458 as my target, given the depreciation it’s already gone through so I feel that the hit I take when I sell it in a few years is much more manageable (I just know I’ll need a - new to me one - once I get this addiction started). I was at the Ferrari dealership this past weekend and loved the look of the 488 spider they just sold but $270k is still a bit too high for me. I’ve already lost out on a couple 458s because I thought I could negotiate. Lessons learned and hopefully shared for everyone’s betterment.


    Sent from my iPhone using FerrariChat.com mobile app
     
  11. Ndlauer1027

    Ndlauer1027 Rookie

    Dec 26, 2020
    17
    Full Name:
    Neil Lauer
    Awesome info that I was unaware of. Thank you for that.


    good to know about the negotiation part. Seems like the price is the price on these. What were you seeing them selling at?
     
  12. Ndlauer1027

    Ndlauer1027 Rookie

    Dec 26, 2020
    17
    Full Name:
    Neil Lauer
    Just a thought but as a beginner are the 430’s still subject to additional maintenance that the 458s are not? I’ve seen two 430s in person that were mint, low mile examples. Not as nice of a looking car as the 458 but at 80k less I’m curious how they are versus the 458.
     
  13. Ndlauer1027

    Ndlauer1027 Rookie

    Dec 26, 2020
    17
    Full Name:
    Neil Lauer
    Lol, maybe ignore this. Found a few threads on the differences and it seems as though it’s a large difference and worth the price to go 458.
     
  14. IloveGT

    IloveGT Formula 3
    BANNED

    Oct 17, 2015
    2,419
    #39 IloveGT, Dec 30, 2020
    Last edited: Dec 30, 2020
    +1.

    there is a search button for most of the questions you asked. 488 over 458 because you are taller? It appears that you should just test drive the car instead of asking the stranger about the kind of questions no one can answer for you. 430 vs 458 vs 488? oh boy.

    Regarding the depreciation, everyone's value of a dollar is different. No one has a crystall ball. Don't ask the next guy on internet for financial advice. If you treat buying a Ferrari as a financial investment, very likely you will lose more than you like at the end.

    Regarding Montana LLC for tax evasion, there are also long threads about it in the general sections. I am sure some members here know about it more than they prefer unfortunately. You may wanna listen to them. Having said that good luck with your leasing company of 5 cars in your scheme of Montana LLC.
     
  15. Ndlauer1027

    Ndlauer1027 Rookie

    Dec 26, 2020
    17
    Full Name:
    Neil Lauer
    Ugh. A few of you are really stuck on the whole Montana LLC thing. First, it was a question/inquiry as to if anyone here has done so and if so how it went. Secondly, I am in a completely different situation that a guy who wants to register a personal car out of state and as our legal guys are looking into it, I am simply vetting out the legalities of doing so. All of our cars are company vehicles which we provide to a number of employees. We have multiple locations across multiple states which means our vehicles are intrastate all the time. We also turn our vehicles over every 18-24 months. That brings up a crappy rule that is now in IL. Your maximum trade in tax credit is only on 10k. So if you purchase say 100k vehicle and trade in a 50k vehicle you are still taxed on 90k. You can see where vetting this out for Montana or any other state we operate a location in would be worth while for me to explore. As far as picking up leasing “income” and being taxed on it, that’s just not going to generate more income than expense and depreciation. Now, can the few of you that can’t seem to let the Montana inquiry go and feel the need to bash, let it go? Not sure why the aggression towards someone who wants to be as tax efficient as possible with in their legal right to do so.


    Addressing your smart ass remark (oh boy) regarding a 488 over a 458 because I’m a little taller, that’s not what I said. I simply said, I looked at a 488 the other day and I was concerned that being in the slightly taller side that I would feel cramped, yet I was surprised to find the 488 was quite comfortable. I never said a 458 was any different. I’ve never sat in a 458. I was just pleasantly surprised that a Ferrari was comfortable for me to sit in. I’ve sat in plenty of other sports cars that felt extremely uncomfortable and small.Thanks for attempting to make fun of my lack of knowledge on a vehicle, again it’s totally helpful to grow interest in this forum and hobby. I’ll make plenty of blunders you can laugh about regarding my lack of knowledge but on your above comment, it’s completely unfounded and based on a lack of your reading comprehension.
     
  16. TUTTSF

    TUTTSF Karting

    Sep 21, 2018
    162
    So. Cal
    The Montana thing works fine for me, insurance is not an issue as I have had claims paid by insurance co on my cars and RV with no ?. Had the LLC for 10+ years with no tax problems from my CPA. I do not own property in Montana, your LLC if set up with a business that specializes in setting up LLC's will give you a physical address that all your mail will be addressed and act as your office for a yearly fee. You only have to follow the laws of the state that your LLC is set up in you can live where ever the hell you want it's still a free country for a little while longer, you can see the conformists laying down on this site all the time grabbing their ankles and taking it from their master, Live free or die MF, f all you pu$$ies out there who don't fight for freedom and vote for ****heads who steal your money and want to steal your hard work so they can act virtuous with other peoples stolen money and buy more votes. Rant off and yes I feel better now
     
    Boosted930 and Ndlauer1027 like this.
  17. axlesofevil

    axlesofevil Formula 3
    Silver Subscribed

    Jan 14, 2012
    1,669
    San Diego, CA
    $165-175 for a spider is on the low end. Be prepared for an older, higher-mileage, or less-desirable set of options in that range. They all have the same drivetrain though and that's the most important part.

    As far as maintenance the 458 is relatively cheap. They're reliable for super cars.

    The amount of value you will lose depends on how much you drive it. If you put zero miles on it it probably won't lose much value. If you put 10k miles a year it'll lose a lot of value. I chuckle to myself when people say their cars will _appreciate_ in value. Maybe if you don't drive it at all and it stays at a super low mileage. But then what's the point of owning it? The 458 is not a rare car and while it'll keep its value better than a similar McLaren it's certainly not an investment that will appreciate.

    As far as years, I believe the 2010-2011 MY cars have a slightly different programming that causes more exhaust burbles on runoff. This can be "corrected" in newer cars with products like that from OpenFlash Performance.

    I don't know what sort of situation you have regarding registration/taxes. I briefly considered doing the MT LLC thing because CA taxes/registration are high. But I figured if I could afford a Ferrari I could afford to pay the state I live in for the roads I drive on. When people of means can afford to take advantage of loopholes others can't.... well there's a reason "eat the rich" has become a popular saying.

    Good luck with your search. The 458 is an incredible car.
     
  18. Wangotango123

    Wangotango123 Karting

    Aug 7, 2020
    60
    Full Name:
    Rafael olarte
    Finally some great feedback for the OP. Well said. Neil do what you want it’s a free country. I paid the 14k tax bill knowing well it will be pissed away by the state. I didn’t realize FC was like The Hull Truth filled up with studio gangsters.
     
  19. IloveGT

    IloveGT Formula 3
    BANNED

    Oct 17, 2015
    2,419
    dude, you need to chill. Telling you to use search button and to test drive the cars yourself is not to laugh at you. If being told the answer you don't like to hear when you were the one who came to ask, that sounds like a millennial mentality to me. I am sure you are older than that, right?

    Were you simply hoping to hear what you wanted to hear and us holding your hands at the same time?

    Type Montana into the search button box at your top right corner on the screen, please.

    Type 458 vs 488, please.

    Also type 458 depreciation as well.
     
  20. ylshih

    ylshih Shogun Assassin
    Honorary Owner

    Mar 21, 2004
    19,803
    Northern CA
    Full Name:
    Yin
    Profanity filter circumvention, abusive language, political content outside the designated forum. 7-day ban.
     
    IloveGT, Chadly and axlesofevil like this.
  21. NuorderSG

    NuorderSG Formula Junior
    Silver Subscribed

    #46 NuorderSG, Dec 30, 2020
    Last edited: Dec 30, 2020
    The spider might appreciate....it's got killer looks, it's on the higher end of the price range so it's unlikely to be beaters owned by multiple flippers who only wanted the bragging rights for a short time.
     

Share This Page