430 depreciation

There's a guy on YouTube that does a series of depreciation videos on specific cars. Pretty sure he did one on our F430's. I would say, that was prior to the CV19 situation. With a significant recession ahead of us, it's going to be really hard to predict where things are going. And if anyone can, HMU...I'd like some investment advice from you

Get a car you want and enjoy, imagine all the missed fun by worrying over which way a depreciation curve is going to go. And put some money to one side that you don't need for the inevitable repair over that period of time.

 

If you haven't found this guy on YouTube or the web yet, I'd check his videos out as has done a ton on the F430. I actually used his consulting service on my recent F430 purchase. Here he talks about the question you asked specifically:

 

Here's the video I was thinking of.

Dan's vid's encouraged me to pull the trigger on an F430....and promptly had to do CV boot joints, engine mounts, etc, etc. Thanks Dan! Jokes aside, really enjoying the car.

 

If you wait until a Ferrari is 10 to 15 years old, and you buy it at a fair price, it will cost you little to nothing to own over a period of time. My first three Ferraris - a 308 and a couple of 348s, I drove for basically free. I bought a 360 a few months ago and expect about the same.

I was visiting with a guy down the street who has a 2012 Corvette. He said "I love sports cars, but there's no way I could afford a Ferrari!" To which I responded "I love sports cars too, and Ferrari is the only one I can afford!"

 

I think it's the parts and maintenance that is more of a burden than the initial investment. For the cost of two throttle bodies for a 360, one could buy an entire engine for a 15 year old Corvette. No joke, that's a literal assessment.

 

I guess I've been pretty lucky. I spent maybe $2K on the 308, probably $4K on my first 348, and around $7K on my second 348. Even after that, I broke even or a little better on all three.

 

In SC if your car is 15 years old you pay almost nothing in yearly property tax or tag.

 

I wouldn't run that up the flag pole too high!

 

I just purchased a F430, but have been looking to buy one since I was in High School. I’ve followed the depreciation on the car religiously over the years. To be honest, my evaluation, pre Covid, Was to buy this year or next. 360 prices are holding steady at 70-85k (F1) depending on year and mileage. F430s are around 85-120k (F1). I can’t see F430s dipping below 360 pricing. I started to look at 360s since some can be obtained for “cheaper” however The more I read on maintenance issues, the more I realized finding the right 430 was the best outcome. Less gremlins, less service, and if you know how to use the F1 it’ll last longer than most people think. The private market here On Fchat and on the popular car sites I found to very fair, most people who own these are asking fair prices.

 

True story! I paid $8 for property tax and registration!


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The reason I bought my 430 is that they have mostly depreciated down to a place where any more depreciation will happen very slowly. If you are worried about this depreciation curve, you may not be in the position to spend the money on the car in the first place. Buy a higher mileage driver and enjoy.

 

not much depreciation left, if anything they seem to have firmed up

 

Helps that the new V8 models are significantly more expensive new than the F430 was. The high MSRP of the 488 has been propping up the 458 like crazy, which in turn helps the F430.

 

I don't think they are depreciating as quickly anymore, but then again, I'm not sure how many buyers there are. I don't think the people seeking 360's have figured out that the price gap with the F430 has almost disappeared. Purchased my 05 for $90k a year and a half ago, put in about $8k, attempted to sell for about $79-83k earlier this year, and no luck for quick sale. I'm guessing wholesale is about $65k since I got quite a few of those offers from dealers and low ball offers. Mine is not red though, there appears to be about a $5-10k premium for red ones. If you're worried about being able to unload quickly, spend the extra on the red ones since they tend to sell before the other colors. As others have mentioned, Dan is a great resource and has a ton of information on his YouTube channel.

I arrived at the same conclusion. Spent just a little bit more than a 360, but I have less worries about gremlins and major maintenance when I do get to drive it (rarely get the chance). I think this is a great year to purchase an F430. I almost wish I would have waited one more year, but I purchased at the bottom end of the market price at the time, so I'm not losing any sleep over it.

 

I agree with you totally. Mine is Red. And to find a reasonably priced Rossa Corso/ Tan Daytona combo on the dealer market was very hard. Private wasn’t easy as many would sell very quickly. Definitely a premium and it seems after 20k miles the price is based on vehicle spec and condition.

 

If you look at price history for regular production models over the last 35-40 years, you'll find that the bottom is typically 10 years after the last one was produced, so 2019 in the case of 430s. After that, they usually bump along the bottom for many years. Sometimes a model will get hot again. 550s did this perhaps because they are all manuals. So, I think you can buy a 360 or 430 without fear of it depreciating just sitting there. If the economy really goes south, then prices on these will drop too but likely bounce back when the economy improves. Most are in strong hands with no debt.

Dave

 

what's funny is that the average person thinks any Ferrari is a minimum of a $200-250K car.

Even my old 308 (which I loved), people would think it was a minimum of a $100K car and that it must be a rocket.

Little do they know that a Nissan Sentra would probably beat it out of a light.

 

F430 prices won't be going down much in the future. The 360, which is a great car, will keep prices up. Low maintenance, solid F1 trans that was finally sorted, great looks and engine, etc. They are a great buy at their current value. Oh and the sound....the modern Ferraris don't sound like a proper F430.

 

mine arrives tomorrow,,,,,,,,black on black,,,,,,,,,,i buy according to my likings not for resale value .........3,000 miles

 

Generally, any vehicle asset you purchase will depreciate. On the other hand, changes in the market over time cause some vehicles to have a different depreciation curve and see price appreciation. The bottom line is whether you enjoy your vehicle.

I enjoy my 360 and aside from routine maintenance which some I do myself, and the rest handled by my reasonably priced mechanic, e.g. engine cam belts, I have not found such costs either onerous in terms of parts or labor. The last thing I worry about is depreciation, and I pay no attention to it.

I suppose if my intent was to buy and use my car for three years and try to sell it, I would be watching the market like a hawk, just as I would for any stock I may purchase. As for my car, I do moan from time to time if something breaks. However, I quickly address the repair, all of which I have been able to do myself, so cost has been limited to parts. In four years of ownership, my parts cost has been limited to about $1000, of which $650 went to replace speakers and an amplifier to fix the crappy "HIFi system.

I view maintenance as no different than what I must expend to maintain my residence. Once in a while, the "God of Probability" causes a new water heater, AC compressor, or refrigerator to be replaced. I accept these as the cost of ownership. For peace of mind, I have created a separate "suspense" bank account which is funded monthly. As for my residence and my vehicles, I do make investments to improve comfort and reliability. For example, I replaced the F1 pump and motor with more powerful units, and replaced the F1 relay with an electronic unit and added an LED lighting package from Scuding Swiss. I see these costs as no different from replacing the wood burning stove in my family room with a gas unit.

I hope you find my point of view worthwhile.

 

They will go a little lower but I think it’s a safe buy. To prior posters point I lost far more money in owning a 2019 C7 Z06 for five months then I’ve lost on my F430 over four years (including maintenance).


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+1

It's not going to be much unless you crash the thing and good cars always tend to go fast. Pay a little extra to get a good one you will save money in the long run.