What's a % or $ Value Drop After 3500 Miles?

I can't imagine there is any forumula to it. There are a lot of factors into the price of a car and too many to really come up with a formula. Only safe approach is to assume it'll take a big hit. Then if it doesn't take that much of a hit then you're better off than you expected Also note that in most states you'll lose the sales tax that you pay as well.

 

What a stupid question. Its a car. Drive it . You could be dead next week.

 

Only 1 way to find out. Have the time of your life. go for it.

 

Depends on the car itself, how well you buy the car, market conditions when you sell it, etc. There is no formula. Let me give you an example. I bought a Stradale a year and a half ago for $170k with 7k miles. Sold it five months after that with 8k+ miles for $176k. It has 10k miles on it today and is likely worth $180k+. Market conditions change. All this being said ... if you use it in the Cannonball Run or a like event ... mileage as a depreciating factor will be the least of your concerns!

 

I think it should be the other way around, the higher the mileage the more it cost,
you know that car had made it that far and it has been tested and pass the high mileage test.

 

Completely the wrong questions to ask oneself about a toy/hobby/obsession.

 

Not always just as easy as that mate

 

What an excellant idea!!! I say buy the car, drive the hell out of it for a few months and sell it for more than you paid for it. I'm looking for a car that has been driven "hard" like god and enzo intended. I think this type of ownership should increase the value of the car over some other cat that has been pampered. Also smoke in the car, that way other men understand that the car has been "pre-marked" also inceasing the value.

 

What I have noticed with F-cars is no matter what you will be competing with very low mile cars when it comes time to sell i.e. garage queens. If you are trying to sell privately most of the offers will be wholesale.(not unless you've got a very desirable car and you'd be selling it through the dealer anyway) Another trick people will use is they'll ask you what MSRP was on the car and offer close to that even though pricing should be based off of a higher current market value. So the morale of the story is you might as well put some miles on the car so that at least you've enjoyed it because you probably won't get top dollar anyway considering what you'll be up against. Make sense?

 

No matter how hard I try to comprehend I don't understand people who are looking to spend 6 figures on a car and then care about resale value if they "heaven forbid" drive the car.

If you care about resale value, buy a Honda.

If you're looking for the experience of a lifetime buy a Ferrari.

 

It's not the three thousand miles that's going to hurt the re-sale value
It's everyone knowing how those miles were put on...ie Gumball.

 

Yes, it would matter if the car is used or new. Take an F40 with 200 miles on it and add 3000, and you're probably down $100K.

Take one of those 300-mile 328s at $90K, drive it 3000 miles and voila: you have another of the many '89 328s with ~4000 miles on it. Probably $10K depreciation.

Buy a 355 with 21,000 miles on it, run it up to 24,000 miles, sell it smart. Probably zero odometer-related cost.

But I've got to agree with MVP. If you're worried about a Ferrari losing value due to mileage, then you bought the wrong one. Either get a museum piece and store it -- which is fine. Or get a road car and use it. I suppose I bought 'below my means', so while I love my 328 it isn't a significant part of my financial picture. It doesn't matter if it goes down $5K or up $10K, except for FChat/bar talk purposes. The current plan is to use it, and when the engine gives out have it rebuilt. In the meantime, the 328 is the newest Ferrari I really like, so any future purchases would be vintage/classic anyway.

 

Walk into a ferrari dealer selling the exact model/color you want to buy and imagine two identical ferrari's for sale. The only difference, one has 1500 miles and the other has 4500 miles.

The answer to your question is how much more would YOU pay for the low mileage one.

 

No one can answer the question for ALL exotics. All exotics are different and range from Lotuses to Veyrons. Even Ferraris and Lamborghinis have much different depreciation rates.


Narrow your question...