FULL Cost of ownership, 1st 9 months-DIYer's Ferrari 360 gated on a budget

Interesting real world first hand information. I'm sure some people will appreciate the cost tracking!

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Thanks for posting this. Nice to see someone do their own work and get to know the car.

And awesome you're a little ahead!

 

Interesting post in my view.
I bought a stock 360 Modena F1 in very nice condition but I have spent my time making it 'different' and special.
Most of the interior is now carbon including carbon seats. I've just changed the stock suspension to AFCO race shocks and the wheels to Challenge with Michelin Sport tyres.
Next is to remove the stock exhaust system and install sports tubular manifolds, sports cats full titanium silencers. I'm contemplating installing the Gruppe M induction too.
What are the views of other members?
I'm interested in making it special to me and not to enhance (or not) the future value.
Should I keep the parts removed I wonder?

 

Wouldn't true cost need to reflect interest on loan, depreciation, gas/oil, insurance, etc. This seems only to tell half the story....

 

I bought my 430 a little over a year ago, and all I'm out is the depreciation. It's not due in to the dealer for another four thousand miles, which might take three years.

 

ok so if insurance is included just needs depreciation, gas, and interest to get true costs.

 

if purchase price was $90k at 4% that would be $3,600.00 in interest.

I was told that $500 depreciation a motion is standard or $6,000.00 a year.

If you drove 50 miles a week at 8 miles a gallon at $3.00 per gallon that would be $975.00 in fuel.

 

I don't think you can accurately calculate depreciation on these cars.
As the OP said, it could be nil due to a low purchase price. It could have even gone up in value. Additionally, straight line depreciation isnt really relevant on a car like this, we know it's never going to go near zero. But You never truly know it until you sell it.
If you want to play lawyerball, then I guess OP could call it something other than "full cost of ownership", although I thought most of us knew what he meant,

 

At this point depreciation should be only based on miles, not time. Factoring in enjoyment from those miles, you can probably consider them a net gain.

 

ok fair enough. it would be helpful to know your true costs though so we have the full picture.

 

That is awesome you are able to break even in a creative manner, I've been trying to do the same but there were a couple of major jobs that required a lot of labor. Parts wise I have been able to recoup 1/3 to 1/2 of the costs via smart shopping and selling of OEM bits which are frankly useless to me.

 

Fuel and insurance can be peanuts depending on our premiums and annual mileage driven.

I doubt those two factors would move the needle much on total ownership costs. I pay $1100 a year for the 430 and fuel is also no more than 2 tanks per month (maybe $100)

With loan rates where they are, I'm guessing it also isn't much of a number to sweat about.

 

it would on,y be helpful to this particular instance. everyones purchase details will be so different its best to keep that out of the equation. the way he broke it down is perfect for the typical buyer to use as reference.

 

I would argue the OP is doing better than he thinks. I never really include tires, fluids, insurance (other than the "extra" paid on a Ferrari) or other items I would be spending $$ on no matter what car I had. But I guess that's just me. How do you square the expenses against the fun factor of ownership or the satisfaction of fixing up your car and making it "yours"? This F-car ownership is kind of a hobby for me. Hobbies all cost money, right?

Budgeting is a fact of life-- myself included. But too much pencil to paper can take the fun out of it.

 

I think most of us got the picture and didn't need to give any grief about what was essentially meant as a guide for someone looking to own and DIY.

I have had a similar, if not better experience in the 7+ years I've had the CS. Somewhere on the site I did an itemization and the costs were extremely affordable... if you are able and willing to do the work. The fact that the CS has 2X+ increased in value since I bought it has helped as well.

 

This is awesome to see, thanks for putting this out there. How much of these costs where things that broke/came due during your ownership, vs needing to be done when you bought it? Just trying to decide if this is really the cost of bringina car up to snuff, or a typical 9 month ownership cost.

 

I think a lot of owners hold exorbitant parts and service costs up as a badge of honor. That isn't me. I have just loved exotics and Ferrari since I was able to pick up a copy of Road & Track and have been fortunate enough to have been able to experience these cars for most of my adult life and part of the hobby is actually learning and figuring out how to work on them.... not to mention clipping some apexes!