Im new here and Ive spent a couple of months in the forums. Im deciding on buying my 1st F.. my current fixation is the magnificent 458 Coupe. I know that none of us have a crystal ball, or we would all be driving LaFerraris ;-). However. Can anyone comment on the expected depreciation on a higher mileage 458 example. For arguments sake, lets say a 2010-2011 with 50K-60K miles. I plan on driving my F as a DD and maybe adding on another 20-30k miles in 3-4 yrs. I have read about so many people with higher mileage relatively faultless cars, so this car is really built for longevity. So.. getting to my question... Are 458s just expected to tank past the 50k mark? Or is it worth laying down an extra $20K-30K+ to get an example with half the amount of miles? Remember Im planning on putting on 20-30k. A 50k example can be had around the $130k mark, which is better suited to my budget, but how difficult will it be to sell a 80K+ mile car in 3 years? I appreciate any insight from you guys. Love the forum! Been hovering for months. I just cant wait to become an owner! Thanks so much!
not much depreciation left on a car with that many miles. id spend the extra money and get a car with 25k miles...
With what you intend to do, I'd find the highest mileage, well-sorted example for the lowest cost. Once you get past 20k miles, you'll probably escape the notice of most buyers anyway.
I would have to agree. If you intend to drive and enjoy the car carefree, use it as a daily driver and put a lot of miles in it, find the best sorted out high mileage car you can find. For the use you’re aiming to give the car, if you buy a low mileage car, you’ll pay a lot more for it, destroy its value and then sell with huge depreciation. If you buy an already depreciated asset, the margin you lose for enjoying the car is minimal. Kind regards, Nuno.
Thanks for the quick replies! Yeah thats the way Ive been leaning on it, they've definitely had most of the depreciation take place already. During my research, Ive just never seen anything higher than 70K+ available, so what starts to concern me is how difficult one in that range would be to sell. But as you pointed out cavsct94... the common theme seems to be anything above 20K is overlooked by the average store it in the garage kind of guy, so perhaps Im overthinking it. Appreciate all the feedback already!
I agree, past 20k miles is already considered "high miles" by the average buyers...not to mention 50k. Even though there are a lot of high mileage examples still running around problem free. I think as long as you are mentally prepared to sell it cheap, a 80k mile 458 wouldnt be hard to sell. Once it gets below 100k it's pretty tempting to a lot of buyers from the lower budget level. For your kind of use, you lose a **** ton if you buy a low mileage car. And you can always trade it in and exit fast for a bit less cash
I agree, mainly because the 458 is still a modern, recent car. Older models aren’t even a decade old yet. In time, when they achieve vintage/classic/cult status, average mileage will be higher and matter less. Kind regards, Nuno.
There are other factors to take into higher mileage Ferrari’s. Maintenance, and possibly of CPO, honestly you want to make sure you’re covered https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?atCarId=1f297dea
Absolutely! Higher mileage higher risk of course I’ve been monitoring the market for a while, that Nero is a great deal, apparently it’s in a deal as of yesterday. so I’ve been told. Perhaps a stupid question but from what I’ve understood the “power warranty” can only be purchased if purchasing through a Ferrari approved dealer? Or is this the same warranty that can be added if an inspection is performed? My local dealer mentioned recently there was a “buy 1 year get 1 free” ongoing Oh and I do 100% plan on doing a PPI!
Pretty tight requirements https://www.ferraricf.com/ferrari-power-warranty.aspx And not all ppi are equal, make sure to under what they cover and how in depth they go
Thanks for the link! “Tight” is an understatement there... wow!! That certainly explains why I thought it had to be purchased through a dealer
Hey Adam have you bought anything yet? I'm a believer in buying high mileage cars cuz you pay less and they are past the growing pains and usually if maintained well they are the best bang for the buck- I bought my Modena with 40K miles last year it had already had clutch done (its gated manual) and tons of stuff, i've driven it 10K care free miles so far.
Long as a car has been serviced properly and well looked after, I look for higher mileage stuff because I personally do so few miles, that when I come to sell in a few years, I’ve generally pulled the average down to make it a lower miles example later on! Works great, and means I’ve driven some very nice metal for almost zero depreciation on occasion
very thoughtful and creative attempt to analyzing available data. if he Incorporated wholesale data i think it wld strengthen his overall analysis but that's not the easiest data to get. i do agree the 458 market seems rather stable.
Hi Tarek - Yes I did!! I went out and found myself a beautiful Rosso Corsa 458 - I couldn't be happier! Im currently using it as my DD - so not worrying about the mileage was important to me. I found a great example well taken care of. so its got over 55k - it'll have more soon Image Unavailable, Please Login
congrats man, i'm looking at a couple rite now, just not sure if i'm gonna be able to part with my 2004 Gated Modena i have a buyer for it ready and everything..i just can't make the decision lol Image Unavailable, Please Login
She’s a beauty! Always loved the 360s! I considered the 360 and f430 before deciding on the 458. Daily driver wise I’m glad I made that decision, but I could still stare at that Modena all day long too good luck !
Far too many factors involved. When I started my research I was shocked at the difference in prices considering there were only 6 MYs. As far as differences, well you can get an extremely low mileage still well in the 200s. All the way down to extreme high mileage examples at the time I was looking all the way down to 110K - but at those levels almost 99% of the time they have been tracked - easiest way to spot them is the steel brakes. Good luck!
