Wanted First Ferrari - 2010/11 458 Italia

Try the 458 owners club and used Ferrari for sale Facebook groups

 

Yep I have they are the leader and the best in the business. They lease 300+k car daily


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Found this 1 no accidents 33k miles. You might be able to negotiate closer to your price point. Good luck with your search!

https://www.cargurus.com/Cars/inventorylisting/viewDetailsFilterViewInventoryListing.action?zip=94030&showNegotiable=true&sortDir=ASC&sourceContext=carGurusHomePage_false_0&distance=50000&sortType=DEAL_SCORE&entitySelectingHelper.selectedEntity=d2064#listing=296799105


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For $120k you can get a perfect 430 or a salvage 458. Go for a 430.


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Tell us more about your GT. Still happy with it? I hear they are wonderful to drive...

 

The full story of buying the car is here:

https://www.ferrarichat.com/forum/threads/bought-a-2005-ford-gt.617596/

Yes, after a year it's even more amazing. So much fun to hammer through the gears.

 

Let say this one had a little bit of repairs done....
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well that buffed right out...

 

Amazing they can still get $132k for it.


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I’m going to have to disagree with that statement. Only reason I see the F355 get a bad rap for its F1 transmission is only because it was very finicky and rough due to being the introductory of this new technology at the time.

From what I’ve read, the 360 F1 was a great improvement over the F355. I think the 360 F1 will be contrary to what you’ve said. Worse case, it will stay at the current prices and rise through inflation. Remember, the 348 wasn’t really well loved for a long time, now look at those prices

 

Well prices speak for themselves and there is no disagreement possible here


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Why someone would pay 170k cash for a car with the low interest rates is a mystery to me. 70k down and finance the rest, I can make more than the note interest on 100k of capitol.

 

except you aren’t getting that in a cd.

I partly agree with you, but it’s comforting to know that your toy is paid for and can be jettisoned if you ever need fast cash.
I’m underwater on a bunch of options right now that if I actually needed to sell today would net me a far bigger loss than the cost of a car - things can go both ways, but paid for is paid for and is stress free.

 

I don’t think CD’s are investments personally. And never suggested you or I put money in one.

if you buy a 170k car and put 50k down you should still be able to “fire sale” it and be okay.

I am a RE investor not a speculator and there is a difference. My returns are more than the rates on a exotic car loan or I don’t invest. Added with appreciation over time and the interest on a car loan is not even a calculation. For example I just purchased a 2021 Subaru. I could have written a check or used my American Express or Visa for the air miles. But on a 4 year note the interest is 523 dollars. I put 5k down. I would rather make the payments. The down is 15 percent of the value. I am sure I could sell if I had to for 15 percent less I paid for it. The rest of the money I will use towards my investment activity which will make more than 523 dollars in 4 years.

Mind you just because one uses a bank does not mean they cannot write the check. I am not suggesting you over extend your ability to buy the car, but if you can afford it then do it.

Also, if you are in the position where you cannot write a check for the outstanding balance for note, have instability or doubt in any way of your financial position or lack the resources to maintain and fix say a blown transmission or engine, you should not be buying a Ferrari.

 

Also, selling an exotic fast usually means discounted price. They are not liquid like actual cash is. So even going with that thought. If you already put 50k down and “fire sold or quickly jettisoned” the car you may get say 120k for a 170k car you bought, you will probably easily pay off the note assuming you did not diminish the value of the asset. Except that you would still have your 120k in cash or whatever because you only put 50k down.

 

I think you need to bring more money to the table.

 

And buy the best one you can afford.

 

Okay so the reality is the car will be hard to sell with that many miles unless the price is right. So buy at a right price, accept the mileage and have a 458 experienced wrench give you a very through PPI.

 

There are a number of 458’s that have over 100k miles and going strong with nothing more than routine maintenance. No issues buying a 458 with 50k miles as long as you get a PPI.


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I
Run forest, Run!!


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