Hi All, Im doing some pre-planning for a 488 purchase in the next 12-18 months in time to reward myself for my 40th Birthday. I would be interested to know some real, Australian, running/servicing costs for a 488 so i can ensure i have all of my costs understood before i take the plunge. I have already sourced some insurance quotes based on my circumstances. Also if there have been any other unexpected expenses you have incurred during ownership of a similar vehicle. Im looking at a 488 with around the 15,000km mark, will be driven a couple of times a week. I always hear the 'if your worried about running costs, you shouldn't buy a XXXX' argument but i don't walk into anything without knowing as much of the picture as i can. I wasn't gifted or had an inheritance given to me so this is not an easy buy for myself, but its one that i want to do as i have my other financial goals all ticked off. Any feedback would be greatly appreciated. Cheers,
I don't think ownership experience (cost) varies too much from model to model. If you're happy to spend $20k on an unexpected repair, then you won't have a problem. Then there is depreciation to think about too...
Have you owned a bmw? My experience is owning a ferrari is the same or cheaper than a bmw Both assuming used They are pretty realiable But things can happen As above If you are ok with perhaps a big expense at some point then your good to go If you think cars are a waste of money and dont believe in PM then i would re consider
Turbos have been an issue here n there, If you can get extended warranty that’s a good investment, alternatively a 458 no turbos to worry about, excellent example same money [emoji4]
Thanks for the replies guys. We have only owned new BMW's and change them at 4 years so i don't have a handle on 5-10 year old vehicle costs. Depreciation im all good with. Im all for maintenance on my cars and boat and have a history of going beyond what is recommended. That's sort of why i asked the question about real running costs, so i could work from that point and go up. This will be my first Luxury/Exotic so i just don't have a base to work from (cost wise) Cheers,
good luck mate, hope you enjoy yours as much as I enjoy mine ............ I enjoy just sitting in the stupid thing They are all gorgeous ....... except for the 348, made worse by ugly owners
Friend has one ,no issues re service costs or the cars reliability . photos from a 2,000km trip over 4 days . Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login Image Unavailable, Please Login
Here is the answer. Depending on the year it will be under the 7 year free maintenance so service will cost you nothing. If the owner or dealer or private owner you buy it off has the extended warranty then you will be fine. If not you need to get that done through the dealer for around $16K(covers 2 years). Best you do this as a safe peace of mind. If not then you may be up for leaking cam seals which will set you back 20K with no warranty. If the gearbox or electronics go for some unknown reason they are covered under warranty, Or else expect to pay many thousands of dollars to the dealer. Gearbox = $40K If you track the car and can drive well and use the brake hard you will need pads eventually after about 4 or so track days. Cost of front pads is 5K. 5K for the rear. If you go through tyres then your up for them as well. Other than that they are pretty much very reliable from my experience. I went through pads and tyres and everything else was fine over a 4 year period. I had no issues. I now have a Pista and no issues either so good luck.
If you purchase a pre Feb 2019 488 GTB you will have 7 years free service from the date of the car. I say pre Feb in so far that the oil and filter will be changed. Post that date like all other Ferraris the car will tell service if the oil needs changing. Most likely not. Basically Pistas can out after this date and they dont have annual oil change. IMO thats BS as all turbo cars should have the oil changed regularly I would make sure that extended FACTORY warrantee is also added . Now you can have this for years 4,5,6 and 7 years. I paid $12,250 for 2 years 4,5. IMO just get the extended warrantee. Insurance on about $550,000 is about $4,400 / year. $5,000 EXCESS. Tires and brakes are not cheap but again depends how you thrash the car. Me 4 years 9000 kms virtually new brakes and tires. Next good luck in finding a car. Currently only 6 cars for sale in the whole of Australia and mostly high on the KLM's.
Thanks for all of the responses. I have been thinking that the Extended warrantee is a good idea as it gives me some certainty. Is there anything that the factory extended warrantee doesn't cover or that you have been caught out by that you thought was covered? Also with the increase in car prices due to COVID, what are everyone's thoughts on how much the 488's are 'overvalued' by at the moment? Anyone got any info on what similar cars were going for pre-covid? Any thoughts on what you think they will do over the next 12 months? Cheers,
If its the Full factor warrantee and not the power warrantee EVERYTHING is covered even the trim as it a full factory warrantee. Over valued ? Nah market correction. F8 selling 900 K makes no sense the 488 to be too much of a gap. The 488 was cheaper when all the Pista buyers were handing in their cars. At one stage there were over 36 cars for sale. Today 6. Next 12 months they will go even dearer.
How long ago were they in there? i am assuming you are referring to the Ferrari Dealership in Southport?
Yes, Ferrari dealership, less than a month ago, was looking at one that had 19,000 kms $460k , the other had 29,000kms $430k and was the better one to have, was in perfect condition, had obviously been looked after
Year model makes a difference. Cheapest one on cars Image Unavailable, Please Login 2016 So 7 years ends next year JAN 2023. One year free service and the ability of only one year IF APPROVED to get full factory warrantee. But its a private sale no warrantee. This all has a bearing on price. 482 k drive away except for 502 k if in Victoria. 10 K more and you can get a Dealer one with > 30,000 klms at $512,000 drive away plus extra insurance cost $12,500
I've been predicting a price crash for a few years now. So far, I've been completely wrong. While it makes absolute sense to me that prices are too high, things are selling, so I'm STILL wrong!!! Had to happen eventually.
Wow. I was waiting for them to get to $300k. They actually got pretty close a couple of years ago. I think $450 - 500k is about right now for a good one. And like everyone else here, I have no ****ing idea what I'm talking about.
