Mileage impact on a Ferrari

Welcome, it will certainly be at the upper end for mileage (for a Ferrari) and will unfortunately have a detrimental effect on resale. Doesn't seem right but it seems that's how the Ferrari market operates regardless of the fact that many feel regular use is very beneficial to the cars overall good health.

 

Welcome

There will of course be some impact due to mileage, it will also depreciate based on age. The times when Ferrsris only depreciated based om mileage is long gone, and age is as much a factor after three years.
Drive it and enjoy it. My view is that a car not driven, has no actual value. At the end of the day, that mileage is not bad at all. You simply don't see the high mileage cars yet, because they are being driven. If you want an idea of what to come, look at the Cali T market. Lots of high mileage cars there and the Porto will depreciate in the exact same way.
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Whether you drive it or not, the depreciation will still be pretty staggering because you are starting with a car that is $200k; if it depreciates just 10 percent annually, that's still a big number. Will it depreciate more with mileage? Yes. But in my view, you are better off driving it and enjoying the car, and not thinking about the depreciation. A minor fender bender will severely impact the value of the car the same way. It's part of the package. But if my brand new car's going to depreciate $45k in three years if I rarely drive it, or $60k in three years if I drive it more, I'm driving it and not worrying about "saving" $15k by not actually enjoying it. Your mileage may vary, literally. You only "lose" the money if you sell the car. You probably already "saved" $30k-$50k buying it "used" but look what the original owners lost and they barely drove it at all.

Take a zero off the end and you're looking at a more conventional used car someone might buy. You paid $20k, three years later, you get $14k for it. Not so bad, right? It's adding that extra zero on a Ferrari that makes people freak out.

 

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I agree with all above... I believe there is another factor as well which is Maintenance and pride ownership. If you drive and enjoy the car and are meticulous with the service and repairs (backed up with documentation), it will be factor to a prospective buyer. A neglected low mileage Ferrari (typically purchased or leased as a statement) is worse than a higher mileage but loved Ferrari (my opinion).


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I bought a 2015 Cali T with 15,500 miles on it. It has a few scratches here and there. It's a car that the previous owners seemed to enjoy. I plan to do the same. I've had it since Saturday and I've already put 300 miles on it. We are blessed with fantastic driving scenery here in western Washington, so I plan to drive my car as much as possible until I have to put it away for winter.

Mileage anxiety is a real thing with these cars. But like others have said, the California/Portofino are GT cars intended for nice, long drives. Someone else ate the depreciation for you, so consider that a gift.

 

Hi Carine...Not much to add to the sage device above, but perhaps shift your gear to a late model year Cali T, which has some more depreciation baked into the price? Then, just drive it!

My '11 Cali has cost me about $10/mile all in (including purchase price). Seems insane on some level when I estimate that figure, but I guess all I can do is keep enjoying it - which I am - pray the numerator in the $$/mile calculation doesn't rise too fast, and do what I can to make the denominator grow as quickly as possible!

Good luck whatever you decide, and post up pics when you get the F-car...T

 

I need to sit down and figure out the cost per mile. Tom, do you have a spreadsheet you built to figure yours out?

 

McG...Nope, just a wild a$$ guess based on purchase price, annual insurance costs, typical gas usage, FCA dues/events, etc. Anything more organized than that and it would be too much work!...T

 

I'm also the proud owner of a 2019 Portofino. I've approached your question from two points of view that support each other. First and foremost, why own the car and not enjoy it? The idea of investing $250K USD and up, for a car that you only drive weekends just because of future resale value seems an over investment if you don't have multiple exotics in your stable. You might increase your return on investment at a later date but you also invested a lot of money per mile driven. High mileage Ferrari's do depreciate significantly, but as a rule the depreciation tends to bottom out if the car is well maintained, documented and accident free. I purchased mine for $263KUSD which included a 2 year extension to the bumper-to-bumper factory warranty. If you purchased or are purchasing the car from a US or Canadian dealer, the factory is currently offering a 2 year warranty extension for the price of 1 year (approximately $4800-$5400 USD). Enjoy the car for 5 years, free of maintenance except tires and perhaps although unlikely brakes. Have the safety of a full 5 year warranty and if you sell the car in 3 years, because the warranty remains with the car, it will be more valuable because the buyer will have more confidence in his decision. The Portofino by and large is a fun to drive, reliable grand tourer. So enjoy the drive.


Hope this helps.

 

I’m also thinking 2019 Portofino at around £150k U.K. price but with this you’ve saved £50 already in depreciation.
You also get another 6 years service and 3 years warranty on a 2019 model . also looked at California t late model 16/17 year which would only get 3 years servicing left and no warranty but for the handling special pack can be picked up for £110k for a £40 k saving on the Portofino ( a lot of money )
So in 3 year down the line the Portofino should loose £40 k yours been a higher mileage one you may loose £50 k
If I had the choose definitely would have the Portofino it’s faster looks loads better, more modern inside the California t looks dated now inside And you can put the roof up and down on the move . go for it you only live once .
but I’d definitely be tempted to by a cheaper daily driver as at the end of the day if you spend £10k on a daily it would be a free car as you would get that back when you sold the Portofino been not so high mileage

 

If you sell the car in 3 years and it has 30K miles, you will have to price it more aggressively to sell it. When I started my search for a 2015/16 Cali T in November, I focused on the cars with 10-20K miles- enough to have been driven regularly, but as a second or third car. Cars with <10K miles were usually priced outside my budget, and I really wouldn't consider cars with >30K miles as they were likely daily drivers. At the time of my purchase in February, the cars in my ideal range were priced at $120-140K, while cars in the >30K miles range were right around $100K. I'm hoping Portofino pricing follows suit as I plan to trade in my Cali T on one in 2022-3.

 

I find the sweet spot with Ferrari’s being around the 1/2 or 1/3 rd of original sticker. Usually they’re well cared for cars too. From that point depreciation is minimal.

 

Some good advice above - will you let us know how the purchase is going ?

 

Mine slotted in there nicely, almost exactly between those two numbers. Of course, I have added $5K of carbon fiber which I won't get back, but then again, I have added $250K of jewelry to the wife with the same result.

 

Just save those receipts for the eventual "Why do we need a second Ferrari?" chat! [emoji2]
T