458 and 488 price parity... | Page 11 | FerrariChat

458 and 488 price parity...

Discussion in '458 Italia/488/F8' started by dann0, Oct 25, 2019.

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  1. IloveGT

    IloveGT Formula 3
    BANNED

    Oct 17, 2015
    2,419
    Have you taken the 458 out of the parking lot at all? And how fast have you ever driven in it, besides the parking lot speed?
     
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  2. SuperCarGary

    SuperCarGary Rookie

    Feb 18, 2020
    2
    Costa Mesa California
    Full Name:
    Gary McCord
    The 458 is definitely a safer investment, especially a Spyder! Plus there is just something about the naturally aspirated engine and note from the 458 that makes it special. Let me know if you need any help. I have nine 488's in stock and six 458's as well here is Southern California.

    Best,
     
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  3. IloveGT

    IloveGT Formula 3
    BANNED

    Oct 17, 2015
    2,419
    When do you think the 458 and 488 resale price will be so similar, assuming everything else is similar like specs, mileage, and year?

    Your position and experience in Eurocar give validity to your estimates.

    Thanks, and welcome.
     
  4. Il Co-Pilota

    Il Co-Pilota F1 Veteran

    May 29, 2019
    6,023
    Hopefully some place nice.
    Full Name:
    A.B
    Can we please keep this Ferrari related? Spyders are used on the Italian farm tractors;)

    Now back to the regular programme. 458 and "safe investment" in the same sentence? Really? Calling a car that has been produced in the thousands upon thousands, which is still on the depreciation decline, a safe investment?
    Not even sure how to respond to this one - especially coming from a dealer...
    For a car to be an actual financial investment, it would have to at the very least have a zero bottom line when everything is said and done. If we factor in insurance, running cost for 5000 miles a year et al, are you telling me with a straight face a regular 458 will either yield a profit or break even?
    Even a Speciale purchased now can't do that.
    Telling a potential buyer that a used 458 is anything but an expense, and a high one at that, is one heck of a stretch, even for a car salesman.

    A 458 is like the rest of them. You pay to play, but it is worth it. But an investment? Not for a long, long time. Maybe one day, depending on how many are left. But we're talking around 18000-20000 458's made. Want one? Lots for sale. It's a buyers market.

    Sent from my SM-G930F using FerrariChat.com mobile app
     
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  5. IloveGT

    IloveGT Formula 3
    BANNED

    Oct 17, 2015
    2,419
    I venture to say that it will becoming harder for any modern Ferrari to become a real investment. Anything pre tdf required tons of money to build up a relationship by buying non-stop and losing money through trade in and consignment. One would be lucky to break even when offered an allocation of a tdf. Can't imagine the allocation of a LaF. Now with Ferrari going public and seeing how they love to give all those loser kids on youtube allocations without prior relationship, I honestly can't fathom any more how in the future we can continue to say a Ferrari is a Ferrari.b in my view, I think Ferrari is indeed just becoming like a McL and Lambo, from a strict business model perspective.

    That's my 2 cents. Well, I do see 458 marks an end of modern Ferrari chapter. Definitely not an investment, but indeed very fun toy!
     
  6. pizzadude

    pizzadude Formula 3

    Feb 20, 2001
    1,265
    Indianapolis, IN
    I don’t think he said a 458 is a “safe investment”
    He said “safer investment.”
    Maybe meaning that it will still loose but just not loose as much?
    And honestly not all investments turn into a profit.
    And you gotta factor fun into the equation:)

    But your point is valid. Someone will buy a 458 today and sell it down the road for less than they paid most likely.
    I still want one!
     
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  7. SE16

    SE16 Karting

    Apr 13, 2007
    107
    UAE and London
    This has to be more about how much downside you are facing as opposed to whether any of these cars are an investment.

    Put another way, you could have purchased a 348, 355 or 360 for say 20pc of each other price wise in the early 2000s. the 355 and 360 manuals are now much more valuable than a 348 as they held there values. the 348 is probably at best 50% lower..howver, all 3 lost money in terms of depreciation, running costs etc.

    So is the 488 the 348 of the future or are we more in the 355 manual vs 360 manual space (the latter holding well as its better built )
     
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  8. Need4Spd

    Need4Spd F1 Veteran

    Feb 24, 2007
    6,644
    Silicon Valley
    Actually a better daily and more comparable in performance is a 911 turbo. Put a set of SC2s on it and you will keep up with a GT3.


    Sent from my iPad using FerrariChat
     
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  9. czlandi

    czlandi Karting

    Jun 20, 2019
    77
    United Kingdom
    Full Name:
    Christopher
    I have owned both a 488 and a 458. The 488 is far more civilized and rationally the better car. But there is nothing rational about owning a Ferrari. The 458 is much less civilized with a engine that is pure nirvana. I always ask the question would Ferrari have gone from NA to turbos unless it had to. I doubt it. The 458 is also a prettier beast in my opinion but totally subjective. It puts me in good mood every time i get in it. I have an emotional attachment to my 458 that I never had with the 488. And yes I sold my 488 to purchase the 458 and have never regretted it. I’ll be driving the 458 the day I die or when combustion engines are banned. Whichever comes first. The 458 is the end of the truly emotional cars for me and hence despite the numbers around is likely to hold value better than the 488 in the long run.
     

    Attached Files:

  10. SE16

    SE16 Karting

    Apr 13, 2007
    107
    UAE and London
    Wow Chris. that's a strong recommendation!
     
  11. PA Wolfpacker

    PA Wolfpacker Formula Junior

    Aug 19, 2007
    653
    Naples, FL
    Full Name:
    Neil
    Spoke to the non-Ferrari dealer I sold my 488 to last year and asked if the 458 is holding value better than the 488. What he told me was interesting. While he said both are selling well he said Fcars are being pushed down due the overall exotic market. In his opinion the 570s is the best exotic for money right now. He added as other exotics drop in price it will continue to hurt Fcars.
    He said people will come in looking for a Ferrari and wind up buying another car due primarily to price.
    Before I left he showed me his new 488. Traded in a 720s. I asked if it was his first Ferrari and he said no he traded a 458 for the 720s a year and a half ago.
     
  12. up4speed

    up4speed F1 Rookie
    Silver Subscribed

    Feb 16, 2012
    3,543
    Long Island, NY
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    Chris
    He just made me feel really good about my 458! lol
     
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  13. SuperCarGary

    SuperCarGary Rookie

    Feb 18, 2020
    2
    Costa Mesa California
    Full Name:
    Gary McCord
    Here is a great article to help answer some of your questions...... This article answers, cost of ownership, options, changes over the years, common problems, etc....

    https://www.exoticcarhacks.com/car-reviews/ferrari-458-italia-buyers-guide/

    Also here is a quick paragraph right at the end....

    Conclusion
    It’s not very often that a car comes along that completely changes everything. A car that can literally be used everyday, but double as a track car and have minimal upkeep costs. The Ferrari 458 is just that, a car that for now is the one to beat.

    The 458 will surely be a sought after car in a few years, as it is the last of the naturally aspirated breed, which makes now a great time to invest in a piece of automotive history.

    (Life is too short to respond to negativity, only positive vibes here) :)
     
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  14. Graz

    Graz Formula 3

    Oct 15, 2012
    2,289
    New Jersey and Florida
    Full Name:
    Graziano
    I remember a quote on this forum that was very appropriate. It went something like this: “Ferrari’s may not be a good investment, but they keep returning dividends every time I drive one.”
     
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  15. Mighty Joe

    Mighty Joe Formula 3

    Sep 3, 2010
    1,125
    Atlanta, GA
    Full Name:
    Joe
    Interesting thread... Seems the guys who already own a 458 are...well...choosing the 458! LOL Now the current 488 kids...well..you guessed it, they prefer the 488....(;-))
    As for me.....I'll take the 488...gorgeous car!!!
     
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  16. Carnut

    Carnut F1 Rookie
    Rossa Subscribed

    Nov 3, 2003
    3,797
    Gladwyne PA
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    Morrie
    I guess most people don't buy cars my way, see it, like it, buy it, take it apart, when done get something else, sometimes keep the older one if it serves a purpose. I would never buy anything if I had to think about what it costs, what its worth or what it will be worth. Then again I have the patience of a pissed off scorpion.
     
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  17. MANDALAY

    MANDALAY F1 World Champ
    Owner Rossa Subscribed Silver Subscribed

    May 23, 2013
    11,048
    AUSTRALIA
    Full Name:
    ANGELO
    I cant help to think that the 458 owners were they new or second hand ? Yes there are many that are RICH and kept their 458's and added other cars and praise the 458. But how many owners of 458's just keep their car as the change over to the 488 GTB was a pill too hard to swallow ?

    I say this because the 488 might remain as the change over to the F8 is ridiculous
     
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  18. Il Co-Pilota

    Il Co-Pilota F1 Veteran

    May 29, 2019
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    Probably quite a few whom.would never admit it. It's not that uncommon with sports carsafter all.

    Sent from my SM-G930F using FerrariChat.com mobile app
     
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  19. PTG1

    PTG1 Formula Junior

    Oct 7, 2017
    783
    UK
    Full Name:
    Pete
    I thi k quite a few are adding F8s that is what I'm doing, the 488 did not appeal to me but f8 does
    Sent from my CLT-L09 using FerrariChat.com mobile app
     
  20. LVP488

    LVP488 F1 Rookie

    Jan 21, 2017
    4,839
    France
    Due to the huge price difference between 488 and F8 I finally do not switch to the F8 - but I will not invent arguments to claim the 488 is a better car than the F8, it's just that the 488 presents a better value for money in my opinion (and therefore I prefer to spend my money for something else).
     
  21. PTG1

    PTG1 Formula Junior

    Oct 7, 2017
    783
    UK
    Full Name:
    Pete
    There is no doubt the 488 is excellent value for money across the board not just when compared with a F8
    Sent from my CLT-L09 using FerrariChat.com mobile app
     
  22. Shadowfax

    Shadowfax F1 Rookie
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    Jun 10, 2016
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    #272 Shadowfax, Feb 21, 2020
    Last edited: Feb 21, 2020
    This would only apply in the event the money was not already spent on a 488.

    Those in 458 who have been "holding out" for "something better" have robbed themselves of time and have only temporarily staved off receiving their next horsewhipping on what is in reality a mildy improved version of what they supposedly turned their nose up on. For some 458 owners this may (in a psychological sense) prove enough to justify the waiting period in between their last horsewhipping and their next ....which is (sadly) inevitable .
     
  23. PTG1

    PTG1 Formula Junior

    Oct 7, 2017
    783
    UK
    Full Name:
    Pete
    Yes of course, if they had bought new then thr change would double up thr money already lost
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  24. PTG1

    PTG1 Formula Junior

    Oct 7, 2017
    783
    UK
    Full Name:
    Pete
    Test driving f8 today so I'll be able to make an informed decision once that has occurred
    Sent from my CLT-L09 using FerrariChat.com mobile app
     
  25. LVP488

    LVP488 F1 Rookie

    Jan 21, 2017
    4,839
    France
    In my view the "value for money" comment is still valid no matter when a 488 was / is bought. I bought my 488 in 2015, I (virtually) lost a lot of money on it, but for the money I could get from it now I think the best choice is to keep it. Because if I sell it now, I'd need a lot more money to get a Pista or an F8 - in both cases the change would not be worth that money IMHO.
    Instead I will probably add another car (not going for the Pista allowed to get and race the Caterham, with no F8 I'm considering adding a 550).
     

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