2013 458 italia coupe...to get or not??

The age old question from a Ferrari acolyte to the ears of the Burning Bush.

There are Ferrari owners on this board much more acquainted with the scenario you find yourself in, but my own limited experience in these matters frames my advise that you avoid the coupe altogether if your end goal is the spider.

I find that, short of the dealer providing you a buyback guarantee for a coupe you order (or assume from someone who has reneged on their own order), you're going to experience the depreciation you seek to avoid. Problem is, a buyback guarantee will never happen -- the dealer will refuse, instead offering prognostications about the buyback value of the coupe being close to MSRP. But the 458 Italia is well into its production cycle, and there are stirrings already of the price floor for these stunning vehicles moving downward. Inventories are growing, and dealers are still pricing 2010-2012 models similarly, which is honestly absurd and is resulting in the older cars sitting in showrooms for months on end. Who'd buy a 2010 Italia for $285K when a 2012 is $295K and comes with a 7-year maintenance contract and two years remaining on the manufacturer's warranty???

 

I know a spider just sold for $370k...they are selling for over

 

I had almost the same scenario. I deposited for a Spider in May 2012 with an expected delivery of May/June 2013. while at the dealer, i couldnt resist the 458 Italia on the showroon floor so I bought it because i wanted for the season. The spider came in last week way ahead of schedule. I traded in the coupe and the cost of driving the coupe for 1year was about 25k which was lower than I wanted but I also knew that as a second owner and the 2010 did not come with the 7 year maintenance the price was somewhat fair.

You are looking at a 2013 and I assume that you would get a lower rate of depreciation because what I mentioned above. The options on the coupe you are looking at are options many people want. Color combo is also important.

The only thing I would have done different is leased vs buy. Hope this helps

 

Skip the coupe and get the spider

 

If you can't wait to have a 458 of some kind, lease the coupe and wait for the spider. The leasing co or dealer then takes the depreciation risk. Otherwise, continue to wait on the spider.

 

BINGO! We have a winner.

 

Based on the production cycle, and the growing number of used Italias on the market (party due to people trading in coupes for spiders) along with the introduction of the Monte Carlo I would say that you will see at least 25-35k of depreciation over the year.

 

My $0.02: Buy an F430 Spider now, sell it the 458 Spider when it arrives. Seriously.

It's old enough that it shouldn't depreciate too much more in the next year, but still new enough to offer modern-day levels of performance. Plus, you'll feel like you just leapt ten years into the future when you move into the 458.

 

This is a tough decision, but I would wait for the Spider myself. I would expect the worst with the buyback and depreciation. Wait for your perfect car and you will be happy.

 

If you can pull it off, do what you want....

As for leasing (which I do), the only benefit is saving your capital and avoiding all the sales tax (which is smart if you are going to swap the car).

NFW is a leasing company going to "absorb" the depreciation risk, in fact they will likely suppress the targeted residual to be conservative/avoid risk.

If you open-end lease (eg. with Putnam), you can work with them to set a residual....I set ours low, since with open-end I would share in any upside.

If you close-end, the leasing company wants to avoid getting stuck with an upside down car, especially on a short-term lease where they make less on interest....so while the fixed residual gives you a predictable outcome (good), the actual amount you effectively pay will be more. Incentivized lease programs (eg. GM lease specials) will artificially increase residuals, it's a gamble the automakers take to move the new iron, but that's burned them in the past. IIRC FFS did a closed-end lease offer but the terms were rough....higher cost, very low miles...

 

I would get it in writing that you will get sticker back on the car....I find that hard to believe unless they say you can only drive it 500 miles or something crazy like that....If it's not as you like I would wait for the Spider....

 

i would definitely wait for the spider

 

If depreciation is a concern then buy a Prius. I'd never bet anything concerning depreciation for a Ferrari. And if depreciation is a concern then you will never drive it just to save it for the next owner ... that is most sad as the Ferrari experience comes from driving them, not worrying about them or watching it sit in the garage so you can say it has never been rained on.

If the choice is to get one now or wait six months or a year ... the answer is very simple ... buy it NOW, the newer the better then do your very best to drive it and enjoy. Depreciation is simply part of ownership.

Rick

 

+1

 

I second the idea of getting a 430 spider or something similar to fulfill your summer fix.

The car won't depreciate much and you'll enjoy it during the time you want to.

If you don't want to deal with selling it when the time comes, have the dealer consign it for you.

You might get away unscathed with deprecation. If you don't it could be even more than you expected. As a MY 2013 you'd probably get away ok though.

 

Amen Brother!!!!

 

Ordering exactly what I wanted was part of the fun... from my standpoint, I wouldn't purchase a used Ferrari. There is too much personal satisfaction in building my own car.

 

Well, the used f430 spider sounds good, but I'll bet the depreciation will be not too different than the new 458 coupe to spider deal you mention. I like to move in and out of cars, as I get the "itch" way too often. Anyway, I bought a 360 coupe last summer, with the expectation of holding it a year to have an f car until I get my 458 spider this summer. I've heard the 360s are fully depreciated, which to me means I shouldn't lose much money. I put a thousand miles on the car and it will cost me 20k in depreciation. Different car, but not too different a situation. The same thing happened with me and my 599gtb, except that car dropped 40k in a year.

 

If $30K means that much to you I would stay away from ANY 458. A 2014 458 spider will represent serious depreciation after 3 - 5 years of ownership, even if purchased at MSRP. Based on the allocations of spiders my dealer is getting, the premiums over MSRP will be gone within 12 months. You either want the car and can afford the high $$$$, or get something else much less expensive. Best.