Mileage impact on value of Modern Ferrari

Discussion in 'Ferrari Discussion (not model specific)' started by J. Zaman, Jan 18, 2020.

  1. J. Zaman

    J. Zaman Rookie
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    Jul 12, 2019
    Houston, TX USA
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    Jamil Zaman
    Hi friends,

    I have a beautiful spec 2015 Ferrari 458 spider with 4,800 miles. I find myself being stingy on driving it but really want to enjoy my car. I wanted opinions on the impact on value and how much the optics of jumping each 1k mikes plays into that when it’s in this current range. It’s a CPO car with 18 months left on the warranty. But will be selling it before that ends to hopefully get into an F8. I know I’ll get a lot of judgement from people saying “why the heck did you buy anyway?”

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  2. wthensler

    wthensler Formula Junior
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    Apr 27, 2015
    Philly area and FL
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    I'm the opposite. I bought mine to drive. 2013 with 8,000 miles, mostly by me with my lovely wife by my side. When it's time, I'll sell and get another one.
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    No one promised you tomorrow.....
  3. jjp11

    jjp11 Karting

    Sep 1, 2013
    Think about it.. Is the difference of $5-10k you'll lose for having more miles on your car really going to make a difference in your life? You're driving a $220k car and trading it in for a brand new Ferrari. Doubtful. Enjoy it and don't think about **** like that. You didn't buy it purely as an investment, so don't think of it that way. It's not as if money is no object.. We all want our Ferrari's to remain as valuable as possible, but it shouldn't be to the extent of purposely keeping miles low. I have a 2012 Spider... They're highly respected cars, but aren't limited run "collector" cars. They are meant to be driven. Just my 2 cents.

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  4. absent

    absent F1 Veteran
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    Nov 2, 2003
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    mark k.
    It's more then that in most cases.
    I hate that whole situation, you get punished for enjoying the car as it was supposed to be and if you don't you enjoy a high resale values.
    Damned if you do, damned if you don't.
    In my case, every Ferrari I owned, ended up costing me a fortune.
  5. energy88

    energy88 F1 World Champ
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    Jan 21, 2012
    Fredericksburg, VA & Sarasota, FL
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    You may want to go to BAT and look at the Ferrari model page. Unfortunately, they do not have a 458 page, but there is one for 430 and some of the other models might also be used for proxies.

    What BAT presents is a scattergram over time with corresponding price. If you hover over a data point, it gives the mileage. You can then pretty much construct your own scattergram to arrive at a rough trend based on mileage.

    Here is a screen shot for the Ferrari 430 to illustrate what I am talking about. You might also want to pull in some completed listings from eBay to bolster the data.

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  6. Fireman1291

    Fireman1291 Formula Junior
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    Oct 30, 2017
    Tampa, FL
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    Tomorrow isn't guaranteed. Drive it. I put 9K miles on my Ferrari in 11 months before I traded it. Loved every minute and glad I drove it at will! Enjoy in good health!
  7. gilly6993

    gilly6993 Formula 3

    Aug 20, 2009
    Longmeadow, MA
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    No offense to the OP but posts like this make me sad....

    And how does one “enjoy high resale value”. Is that why people buy a Ferrari or any other high dollar car? To enjoy the “high resale value”. That had to be a joke

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  8. A348W

    A348W Formula 3

    Jun 28, 2017
    North Wiltshire, UK
    You are in a very fortunate position to have a 458; and be able to walk into a f8.

    But sorry, if you are worrying about a few k on resale because you have driven it, which is what they are for and where the enjoyment is, then you have probably bought the wrong car.

    Put it another way, what is the difference between what you will loose on resale driving and enjoying your 458 against the options you will be specifically on the F8? Thought go put some miles on the 458 and enjoy it and if money is that tight don’t spec the carbon pack or Apple car play on the f8; job done.
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  9. 3POINT8

    3POINT8 Formula 3

    Jan 23, 2014
    if you are feeling the burn now wait until you take that huge deprecation hit on an f8.
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  10. miurasv

    miurasv F1 Veteran

    Nov 19, 2008
    Cardiff, UK
    Full Name:
    Steven Robertson
    Each mile put on the car now will cost you less per mile than each mile has already cost you so far.

    SGMDCFD F1 Rookie
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    Sep 27, 2006
    Northern VA
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    Tomorrow is promised to no one. I drove my 360 this past Thursday to no where in particular just to drive it. I don't like to have them sitting for more than a few days without driving them.
  12. Fireman1291

    Fireman1291 Formula Junior
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    Oct 30, 2017
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    THIS 100% lol. You can daily the 458 and not loose anything close to the bath you'll take on a new F8 after 24 months of ownership.
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  13. Solid State

    Solid State F1 Rookie
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    Feb 4, 2014
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    Ndugu Umbo
    You might be able to by an entire 458 with that bath! Just drive'em.
  14. Ianjoub

    Ianjoub Formula Junior

    Dec 22, 2019
    Homosassa, FL USA
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    Ian Joubert
    I have put 3k on my 2015 458 in 3 weeks. It will likely get 12k per year for the next 3 or 4 years. I didn't buy it for resale value...

    Invest your 'investment money' wisely, enjoy your play money.
  15. ross

    ross Three Time F1 World Champ
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    Mar 25, 2002
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    can you afford the loss?

    its as simple as that.

    if the answer is yes, then just drive it.
    if the answer is no, then sell it now.
  16. C50

    C50 Formula 3
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    Aug 19, 2016
    Smarter to just not even buy it in the first place
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  17. arizonaitalian

    arizonaitalian F1 World Champ
    Silver Subscribed Owner

    Oct 29, 2010
    sadly and truthfully...for many (likely most) the answer is "they do".

    its not complicated. They want the prestige/ego bump and sense of accomplishment that comes from owning a Ferrari...but they want to minimize what that feeling costs. Best way to do that is to not drive it. (this also implies that for many the thrill/value in owning a ferrari doesn't come from driving it, but rather from owning it. In my experience, that is unequivocally true for most - not all)
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  18. Pis7a2020

    Pis7a2020 Karting

    Dec 17, 2019
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  19. RedNeck

    RedNeck F1 Rookie
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    Jul 8, 2016
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    Bordeaux interior? Un-sellable anyway.

    In all seriousness, you are going to lose your ass one way or another. I really don't understand the point of this post. Was there a question in there?
    m5shiv, Nospinzone and Texas Forever like this.
  20. Nospinzone

    Nospinzone F1 Rookie

    Jul 1, 2013
    Weston, MA
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    Ferraris are meant to be driven.

    If you want an investment, talk to your stock broker ................ maybe. :)
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  21. G. Pepper

    G. Pepper F1 World Champ
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    Mar 15, 2012
    San Antonio, Texas
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    George Pepper
    I came into Ferrari ownership from the world of BMW motorcycles, in which one brags about how many miles one has on the odo, not how few. So while I understand the economics of mileage at resale, I don't understand it as an ownership concern. My first Ferrari was a 456M that had 7,069 miles on it when I drove it off the lot. Well, it was eleven years old and needed a ton of work because it just sat around most of those years. 25K miles, 6 years, and 32K buckaroos in service later I sold it, and that buyer got a perfect car with zero defects. I drove it from SA to Prescott, AZ on one vacation, and SA to the Blue Ridge Parkway on another. Plus a smaller excursion to see an eclipse in NM. The car was perfect at all times and never let me down. That's why I buy them and sort them out to perfection. Now I'm doing the same with a manual 360. Buy them, show them the service love, and drive them wherever and whenever you want.
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    And that's my philosophy of Ferrari ownership, and why I don't care about mileage. YMMV. :)
  22. vrsurgeon

    vrsurgeon F1 World Champ
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    Dec 13, 2009
    Charleston, SC
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    Buyers who need to sell without loosing too much money always ask "how many miles does it have". Those who buy the car with the intent of enjoying it ask "how many miles does it have... as in high miles cuz' I'm going to enjoy it and I don't care !"

    With 458's, high mile examples (the type I look at) 35k miles or so seem to be going for $155k-ish. Rosso cars BTW. I wouldn't be caught dead in a white car with red interior so I can't comment if I'd bay ANY sum to be in one.. but ere I digress. You have one on for $179k with 25k miles on it white on red. So the first question is why your car when I can have this one for $179k.. probably less. There's a 8200 mile white and tan car asking $209k. So it would appear that its about $30,000/17000 = $1700 per mile.
    The reality is probably worse in terms of both the price of the car and the mileage penalty. They call it "resale red" for a reason. White/red is usually the domain of a special buyer.
  23. tomc

    tomc F1 World Champ

    Apr 13, 2014
    DFW, Texas
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    Tom C
    I've been meaning to say, George, your yellow 360 with sunroof is awesome. How common was the sunroof as an option? Wish they offered that in a modern F-car...T
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  24. G. Pepper

    G. Pepper F1 World Champ
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    Mar 15, 2012
    San Antonio, Texas
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    George Pepper
    The head of the sales department at FoSA was around when the sunroof 360's were being sold - he sold some of them himself - and he says there were 22 sunroof 360's imported to North America, and it was about half-and-half between F1 and manual. So 10/11 manual 360's with the sunroof. I have further learned that only two of the sunroof stick cars are yellow. The other one is owned by a member here who lives in Santa Barbara, IIRC. I wanted to get together with him when I was in Cali, but I forgot his user name.

    I love targa tops and sunroofs, but not fully open convertibles, so it's perfect for me. I'll never sell it.
    tomc likes this.
  25. ross

    ross Three Time F1 World Champ
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    Mar 25, 2002
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    i was at a show last year with our 61 flat floor e-type, and a guy asked me what the mileage was.....
    i said, 'does it matter'?
    he said he just wanted to know, so i looked down at the odometer and read it off to him, and then added that it had been restored twice, repainted twice, and had the engine rebuilt once, all of which means that the mileage showing is completely irrelevant.

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