News

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
    Silver Subscribed

    Jul 12, 2019
    21
    Houston, TX USA
    Full Name:
    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?”

    Image Unavailable, Please Login


    Sent from my iPhone using FerrariChat.com mobile app
     
  2. wthensler

    wthensler Formula Junior
    Silver Subscribed

    Apr 27, 2015
    573
    Philly area and FL
    Full Name:
    William
    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.
    Image Unavailable, Please Login
    No one promised you tomorrow.....
     
  3. jjp11

    jjp11 Karting

    Sep 1, 2013
    103
    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.

    Sent from my SM-G960U using FerrariChat.com mobile app
     
  4. absent

    absent F1 Veteran
    Lifetime Rossa

    Nov 2, 2003
    8,380
    illinois
    Full Name:
    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
    Rossa Subscribed

    Jan 21, 2012
    11,983
    Fredericksburg, VA & Sarasota, FL
    Full Name:
    John
    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.

    Image Unavailable, Please Login
     
    J. Zaman likes this.
  6. Fireman1291

    Fireman1291 Formula Junior
    Rossa Subscribed

    Oct 30, 2017
    613
    Tampa, FL
    Full Name:
    Adam
    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
    2,024
    Longmeadow, MA
    Full Name:
    Eric
    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

    Sent from my iPhone using Tapatalk
     
    Nospinzone likes this.
  8. A348W

    A348W Formula 3

    Jun 28, 2017
    1,147
    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 so...so 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.
     
    Nospinzone and 458 Spider 0414 like this.
  9. 3POINT8

    3POINT8 Formula 3

    Jan 23, 2014
    2,135
    if you are feeling the burn now wait until you take that huge deprecation hit on an f8.
     
    Nospinzone likes this.
  10. miurasv

    miurasv F1 Veteran

    Nov 19, 2008
    7,500
    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.
     
  11. SGMDCFD

    SGMDCFD F1 Rookie
    Silver Subscribed Owner

    Sep 27, 2006
    2,635
    Northern VA
    Full Name:
    Steve
    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
    Rossa Subscribed

    Oct 30, 2017
    613
    Tampa, FL
    Full Name:
    Adam
    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.
     
    Nospinzone likes this.
  13. Solid State

    Solid State F1 Rookie
    Rossa Subscribed Owner

    Feb 4, 2014
    4,901
    Full Name:
    Comor Bidity
    You might be able to by an entire 458 with that bath! Just drive'em.
     
  14. Ianjoub

    Ianjoub Formula Junior

    Dec 22, 2019
    426
    Homosassa, FL USA
    Full Name:
    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
    Silver Subscribed Owner

    Mar 25, 2002
    30,920
    houston/geneva
    Full Name:
    Ross
    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
    Rossa Subscribed

    Aug 19, 2016
    1,237
    808
    Smarter to just not even buy it in the first place
     
    Nospinzone likes this.
  17. arizonaitalian

    arizonaitalian F1 World Champ
    Silver Subscribed Owner

    Oct 29, 2010
    12,337
    Wyoming
    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)
     
    Nospinzone and Texas Forever like this.
  18. Pis7a2020

    Pis7a2020 Formula Junior
    Silver Subscribed

    Dec 17, 2019
    266
    Nospinzone likes this.
  19. RedNeck

    RedNeck F1 Rookie
    Silver Subscribed

    Jul 8, 2016
    4,998
    TN/GA
    Full Name:
    Matt
    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
    4,911
    Weston, MA
    Full Name:
    Paul
    Ferraris are meant to be driven.

    If you want an investment, talk to your stock broker ................ maybe. :)
     
    Pis7a2020 likes this.
  21. G. Pepper

    G. Pepper F1 World Champ
    Rossa Subscribed

    Mar 15, 2012
    18,394
    San Antonio, Texas
    Full Name:
    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.
    Image Unavailable, Please Login
    Image Unavailable, Please Login
    Image Unavailable, Please Login
    Image Unavailable, Please Login
    And that's my philosophy of Ferrari ownership, and why I don't care about mileage. YMMV. :)
     
  22. vrsurgeon

    vrsurgeon F1 World Champ
    Silver Subscribed

    Dec 13, 2009
    13,344
    Charleston, SC
    Full Name:
    Curt
    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 cars.com 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
    19,490
    DFW, Texas
    Full Name:
    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
     
    G. Pepper likes this.
  24. G. Pepper

    G. Pepper F1 World Champ
    Rossa Subscribed

    Mar 15, 2012
    18,394
    San Antonio, Texas
    Full Name:
    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
    Silver Subscribed Owner

    Mar 25, 2002
    30,920
    houston/geneva
    Full Name:
    Ross
    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.

    dumbass.
     
    vrsurgeon and G. Pepper like this.

Share This Page