458 Advice on price for a high mileage 458

$120k

 

Down would be a prior accident, or a title issue, or excess of owners, or poor condition, etc..
up would be immaculate condition, perfect service records with meticulous maintenance, one owner etc. (or at least current owner, owning for most of it's miles)

 

120k sounds like a good start, kind of the floor on pricing and start for negotiation assuming its otherwise a clean car. I havent seen one go for sale for less unless it was totaled/salvage or had some other major issue. Id consider a ppi as well, though not sure how well you know this friend. For me its a requirement.

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I just threw the $120k figure out there. Get some pictures or tell us more about the specs. Need to know the condition of the car and the options. number of owners, service records, etc.

 

i checked manheim and 120 is a reasonable wholesale number...

 

Yes. Pretty much. It’s still just a car. use common sense.
as others said, give more details about the car, and we can possibly help out more.

 

As a european, I find prices in the US very soft regarding the 458 and 488. The equivalent in Euro to 120.000 USD doesn’t buy you an F430 in my country. I don’t see the 458 dropping significantly in value in the future, so that seems like a good deal.

Kind regards,

Nuno.

 

Color, options, Carbon Fiber, Rims, maintenance etc? It is GREAT to see that the previous owners actually drove and enjoyed the car. Truthfully, I would rather purchase a car that has 45K in miles than a 2012 with 1K in miles. I would say that $120K would be a good price for a base model 458 with little options or factory upgrades. I would think $130K to $140K for a well maintained, well optioned 458. I might be incorrect, but when I was shopping for my 458, I never say a car priced below $140K.

Don't trust Carfax as far as where the car was actually located. There are many exotic and high priced cars registered in Montana as they do not have a vehicle tax.

 

Post some more info regarding specs of the car and you’ll get a more solid estimate of what to offer. But 120K does sound like a great number for a 2012. The 458 is such a spectacular car. You’ll love it. Good luck!

 

How many miles did the last owner use it for, and for how long?
Did he have any issues/concerns? Any repairs? What maintenance?
And of course, why is he selling?

 

Right now, via Ferrari dealers, you can figure a 2013 with 15K miles is going for about $175K or so. Generally, in the Ferrari market, you can adjust +/- $10K per calendar year and maybe $8K to $10K per each +/- 10,000 miles.

So by this approximate math, which usually holds up pretty well in my experience, take the $175K 2013 Ferrari (in my example here) at your local dealer, which has maybe 15K miles and drop $10K off for your car being a 2012 vs 2013; then deduct $30K more for the additional 30,000 miles. So that's $175k minus $40K, which takes you down to around $135K

Okay, so $175K is an asking price, that means most Ferrari dealers would probably take $170K cash all day long. This drops you down into a realistic range of $130K for the car.

I think $120K is probably a bit on the low side, but not by all that much. Also, when you factor in that most people shopping for used Ferraris are absolutely terrified of seeing any mileage over 15,001 on the odometer, this does drastically reduces the number of buyers in the supply vs. demand equation. I would think that would make for a much harder sell, as the number of people shopping for higher mileage Ferraris is most likely quite limited.

Additionally, when viewed from the current owner's standpoint, just having any buyer is probably a bit of a windfall. If you are dealing with someone who makes a lot of money per year, then +/- $10K probably isn't as big a deal as actually having someone interested in purchasing the car in the first place. For a lot of Ferrari owners, $10K is just 1 days work (or less), so even though it seems like a lot, in some cases the focus isn't on the dollar amount so much as getting the deal done. I'm not suggesting taking your eye off the little stuff (as Warren Buffett likes to say), but at the same time, how many of us here haven't coughed up an extra $10K or $20K to avoid letting the exact car they want slip through their fingers. I know I have.

Anyway, hope that helps a bit. Main thing is to gauge the overall condition of the car to see if it's been cared for or abused by past owners. Usually cars owned by adults are kept very clean, regardless of miles. My 458 had almost 15,000 miles when I sold it and aside from a couple of very small paint chips, it looked as good inside and out as when it rolled off the assembly line from Italy.

Ray

 

At some point the car has a certain value as parts only. There are early model 458's with wrecked/salvage titles still bringing in $100+. There is always going to be a Ferrari buyer at every price point. If $120k is the base, then color, options, service history, condition, etc could easily get the car to the $140's for the right buyer. How much depreciation would be left in it even if you racked up all the miles you could and worry free driving bc it isn't a garage queen. Good luck!

 

I won't buy this one without any service records for 40 thousands miles and 5 previous owners.