458 vs 488 depreciation

Welcome!

You want a 458. It's the one that tugs at your heart strings. Get it!

I think the 458 is the better looking between the two... not to mention, better sounding.

Forget about depreciation. You won't be thinking about it when you drive YOUR Ferrari. Though the fact the 458 is the last of the NA V8s and the last of the PF designed V8s likely won't hurt it. Neither will the 9k rpm redline.

 

Buy the one you like better. Who knows what the future is going to be and if you’re worried about depreciation it might not be the best purchase for you.

 

I'm not an expert in the market, but only $219K for a 488? That sounds like a low number to me...

And, if you're going to be driving it several thousand miles a year, then don't sweat the beginning mileage too much - as it won't be "low mileage" if/when you sell it.

Thing to focus on - for any model - is THE MAINTENANCE.

What's been done, and what's needs doing? Get a *GOOD* PPI before you even start imagining yourself in a car you're considering.

Kevin

 

PPI has nothing to do with a warranty and vice versa. Those extended warranties don’t cover much. Definitely not electrical.

Depreciation depends on the model year and number of owners. I assume both are early in their respective model ranges.

Beauty is in the eye of the beholder.

Reliability is probably not on the side of the 458 vs the 488 but realistically any F car is not that reliable.

Iirc the average length of F car ownership is still 1 year so depreciation may not even be a consideration unless you’re going to keep it for many years.

Agree with all comments above to buy the car to enjoy it. If you’re worried about depreciation and reliability, it’s probably best to avoid F cars.

 

I think the 458 will hold value a little better just because of the 9000 redline and its a bit more simple.

But that's not the point at all. The amount of money difference is probably not significant.

The point is if you're going to spend that much money for a car, get the model and as close as you can year and spec you really love. More cars come on the market in the Spring than the Fall. And you may have to shop out of market.

 

I still say buy the one that really gets you going. You don't buy these every day.

And remember.... when you buy a Ferrari you marry your mechanic. You don't like the service? You might be looking far away to get it fixed. Is an issue to consider with used ownership.

 

Your intended usage will result in maximum depreciation (but with maximum smiles!). After 5 years and a total of 50-60k miles, I imagine it will be at the bottom of the market. I would estimate 80-100k loss regardless of 458 vs 488. Both will likely have some pricy maintenance with that usage.

For your use consider buying cpo f8, say at 350k. After 5 years and 30k miles maybe it would sell for 200k. But at least u would have peace of mind of included 2 year warranty and free service which u could recoup at least 7-8k

 

Dang, boys - the market IS softer than when I last looked - good deal for buying!

How much warranty does one of these come with at their current ages?

I'm still liking the idea of a good PPI - I didn’t and regret it, so that’s why I’m warning you of the hole I stepped in to…

Kevin

 

This feels like a discussion that has precedent in the 458/488 section

One point not yet made is surely that you need to drive both to see which you prefer in motion not just sitting behind the wheel going brmmm brmmm

 

The F8 is the one that will be depreciating most in the current situation, because it has been the pattern for all recent V8 (and will probably be for the hybrid 6 now): for 2-3 years after release, cars sell for new value or more; then they begin to fall relatively brutally for the next 2-3 years, and eventually they continue to fall less rapidly to reach a bottom - on which they will stay for a while before changing from the used cars status to the collectible one.
The 488 has probably still more depreciation prospect than the 458, but not much (maybe about 10K in five years). So between the 458 and 488, it's really a matter of personal choice - which should be easier because they are significantly different. Between a 488 and F8 on the other hand, it's more a financial value assessment: 488 and F8 are actually very similar, the F8 being better because it's in fact an improved 488; the question in this case being whether the improvements justify the price difference.

 

sorry, but disagree completely-- F8 has barely gone down over the past year and it will hold and then rise as the last non hybrid-- just like the 458 did- The 458 and F8 will be (if not already are) the most sought after V8 Ferraris forever.

 

In spite of the claims, one may remember that when the 488 was introduced, it was only marginally more expensive than the outgoing 458... and after years of alleged resistance of the 458 and huge depreciation of the 488, the gap has now converged to be similar to the initial one (a "most sought after" 458 typically sells for less than a 488 today, as the initial post noted) . The F8 is still in the early years of the curve...

 

Agree, this question has no merit without driving the cars. In my case, I tend not to like high-revving cars with low torque.....hated the 458 test drive I had, couldn't wait to take it back to the dealer and take out a Lamborghini Huracan again (drove it before the 458 too). Anyway, bought a Ford GT that has barrels of torque.

So go start driving.....

I do want to try the turbo V8 cars at some point. And of course a V-12 would be awesome too.

 

This is not an accurate recap of the marketplace. The 458 declined heavily until the pandemic propped everything up for 3 years. I know because I was looking and driving a 458 (see post above) in the Fall of 2019. 458s at the 20k mile mark were $150-$170k all day long....and they are again depreciating.

The part on the 458 and F8 being the most sought after V8s of all time is just ludicrous. Does the 288 GTO, F40, Challenge Stradale, Scuderia, Pista, etc not exist in your world? Do the Beatles exist?

There is no current factual proof (or evidence) that any of these modern regular production cars will be collectible.....they make too damn many. Even the Challenge Stradale and Scuderia have been struggling to get a foothold as a true collectible (but I think they will get there).

No regular production line of V8 cars have yet achieved blue chip collector status. In most cases, they haven't even appreciated past their MSRP accounting for inflation. That is a fact worth considering.

The modern V8 Ferraris are great cars for sure, from a long line of great cars since 1976, but nothing truly special. If you want something with a real chance to be collectible, buy the special edition cars, or low production ones.

Just buy what you want to drive......

Makes for a fun discussion though....

 

You will never convince him that his car isn’t rare, collectible or going to go up in value. Can’t escape the fact the pricing has declined (this applies to almost everything) and there are a lot more on the market than there were a year ago. With that being said it’s a great car and something to be proud of owning.

 

Agreed, everybody gets an opinion.....I just wanted to insert 48 years of fact to the discussion so the OP gets differing points of view. Agree that the F8 is a great car according to reviews, when it gets farther down it's depreciation curve I would like to drive one.

 

Rule of Thumb: Non-super car Ferraris depreciate to around 1/3 within ten years.

 

Of course f8 is on steep portion of depreciation, but the way OP wants to use his fcar will result in max depreciation any car he gets, even if it were something limited like a scud. If that is the case, maybe pick the newest, in warranty and keep any age related maintenance issues out of it. Yes it may cost 20-50k more by the time it sells, but u have to factor in that it will likely be able to be on the road for the whole 5 years. If u had a 458/488 that needed something big, like a transmission, u would be out of a car for months.

 

You need to get out and test drive both. I’m looking to move into another car at some point and have recently started test driving some. I’ve been really surprised at how different certain models are and how cars I thought I wanted to buy, didn’t like they way they drove at all. FWIW, I test drove a 488 recently and friggin’ loved it!

 

I never said anything about collectible... this discussion had nothing to do with collectibles or special series cars or rarity etc.... Shark really went off in a different direction-- I simply said the F8 and 458 will be sought after (as regular mid engine V8's, each having their reason)

Jeez, you like to exaggerate.

and as for pricing of any cars-theres a billion reasons they go up n down-- as mentioned above, the 458 (and everything else) flew up from covid -- I'm saying without the BS world political crises and crap like that, just based on the desirability for what they are, they will hold and rise mores than the 488 for example... very simple statement. and you'll see.

 

If you fell for the red, maybe look at a few more cars to be sure. White is typically not the best resale color, but ultimately you should buy what speaks to you. My first Ferrari was a black metallic 328 which was love at first sight for me. But I didn’t know until I saw it. I also (foolishly) passed on a blu chiaro 328 because I was a newbie and thought the color would be seen as “weird” if/when I sold it. In hindsight, that was a rare and beautiful color, and I never had another opportunity to buy one.

As far as depreciation, if you’re really thinking of 5000-8000 miles annually you’ll have a very high mileage 458 or 488, so it will be valued at the low end of the range. These are not rare cars, and most Ferrari buyers seem to want low mileage cars. Assume your money is gone and enjoy the car. I bought a 911 two years ago, where the first owner had kept it 28 years. I doubt he cared about depreciation, because the car was just part of his life. I’m the second owner and don’t worry about values.



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