458 or Not

lencap · Sep 24, 2020

Greetings - I sold my 2001 360 spider 3 pedal car years ago, just before the prices began to skyrocket. Despite the terrible timing I didn’t feel terrible about my decision since I really prefer a coupe. Adding to my relatively mellow lack of no longer owning a Ferrari, the car needed lots of little things on a regular basis that frustrated me quite a bit. The final reason for selling was the inability to drive it “with verve”. I live in a city of 500k people filled with congested roads and aggressive speed limit enforcement. All of these things, admittedly minor in scope, made the ownership experience less than I hoped.

After going through many cars since then, I’ve arrived at a Tesla RWD Model 3 as my daily driver. It’s not a Ferrari in any way, but as a practical and enjoyable car it’s well suited for the type of everyday driving I do. As much as I never thought I’d write this I actually use the auto driving capability frequently at night while on longer rides. In poor lighting conditions or bad weather it’s a low stress way to ease my aging eyes and reflexes.

What’s changed is the pending arrival of my 70th birthday in less than a month. A few years ago my friend let me drive his 2012 458 on a timed course from a standing start to a speed of 182+ at the measured 1.5 mile finish line. I never forgot that run, nor how utterly comfortable driving at speed was. The car was like it was on rails. I’ve been thinking of getting 2012 or later 458 as my final car purchase, but feel unsure about putting so much money into a toy that won’t be used much on a relative basis. I also never expected to consider a sports car without a clutch pedal.

Getting this car would be a considerable purchase, but doable. It would be a PITA since I only have a 2 car garage and my wife’s car has a guaranteed spot. That would push the Tesla outside, making charging a bit of an issue since that’s inside the garage attached to the rear wall. Again, that’s not a deal breaker.

What I am concerned about is upkeep costs, depreciation and little Ferrari surprises that pop up. I’d imagine a one owner car reasonably equipped with a good history will be $170k and up, but I haven’t looked at the market in a long time. I don’t see the car falling much below $120k, but it could, and if it does so be it. I can handle the depreciation. I’m also considering higher mileage cars. I know an owner who bought a high mileage car at a great price. It was well driven, but well maintained. He now has just under 100k miles on it and hasn’t had any significant issues. At my age driving it frequently makes the most sense - let my kids worry about resale.

Thoughts?

PTG1 · Sep 24, 2020

Dude, do it, you will not regret it but, what you will regret is not buying it sooner!

lencap said: ↑

Greetings - I sold my 2001 360 spider 3 pedal car years ago, just before the prices began to skyrocket. Despite the terrible timing I didn’t feel terrible about my decision since I really prefer a coupe. Adding to my relatively mellow lack of no longer owning a Ferrari, the car needed lots of little things on a regular basis that frustrated me quite a bit. The final reason for selling was the inability to drive it “with verve”. I live in a city of 500k people filled with congested roads and aggressive speed limit enforcement. All of these things, admittedly minor in scope, made the ownership experience less than I hoped.

After going through many cars since then, I’ve arrived at a Tesla RWD Model 3 as my daily driver. It’s not a Ferrari in any way, but as a practical and enjoyable car it’s well suited for the type of everyday driving I do. As much as I never thought I’d write this I actually use the auto driving capability frequently at night while on longer rides. In poor lighting conditions or bad weather it’s a low stress way to ease my aging eyes and reflexes.

What’s changed is the pending arrival of my 70th birthday in less than a month. A few years ago my friend let me drive his 2012 458 on a timed course from a standing start to a speed of 182+ at the measured 1.5 mile finish line. I never forgot that run, nor how utterly comfortable driving at speed was. The car was like it was on rails. I’ve been thinking of getting 2012 or later 458 as my final car purchase, but feel unsure about putting so much money into a toy that won’t be used much on a relative basis. I also never expected to consider a sports car without a clutch pedal.

Getting this car would be a considerable purchase, but doable. It would be a PITA since I only have a 2 car garage and my wife’s car has a guaranteed spot. That would push the Tesla outside, making charging a bit of an issue since that’s inside the garage attached to the rear wall. Again, that’s not a deal breaker.

What I am concerned about is upkeep costs, depreciation and little Ferrari surprises that pop up. I’d imagine a one owner car reasonably equipped with a good history will be $170k and up, but I haven’t looked at the market in a long time. I don’t see the car falling much below $120k, but it could, and if it does so be it. I can handle the depreciation. I’m also considering higher mileage cars. I know an owner who bought a high mileage car at a great price. It was well driven, but well maintained. He now has just under 100k miles on it and hasn’t had any significant issues. At my age driving it frequently makes the most sense - let my kids worry about resale.

Thoughts?
Click to expand...

AlfistaPortoghese · Sep 24, 2020

Great questions, sir. I’m sure you’ll get much food for thought from more experienced members than myself, but anyway I’d just like to add the following:

1) A 458 is never a bad idea.

2) Yes, there are potentially costly repairs, as with most modern super sports cars, but I’m happy to report that they’re the exception, not the norm.

3) In terms of the emotions a 458 will provide you and given the current and foreseeable trend the auto industry is going, I believe the purchase of a 458 (as your last, according to your own words) will cap your lifetime ownership of cars perfectly, and your last may very well be the high point of your ownership experience. What a great last purchase!

Above all: wish you a very happy 70th birthday, regardless of what you end up buying.

Kindest regards,

Nuno.

dustman · Sep 24, 2020

Jump in, not much depreciation in the 458 market. In higher regard and demand than the 488, as most of us thought would happen.
I am on my 4th 458 variation because I love them so much. Brilliant, as you discovered. Does not get old. We do, so take the jump while you can enjoy it.
Best.

buddyg · Sep 24, 2020

Don’t think buy!

Just find a car with all service records, these cars are pretty bulletproof.

lencap · Sep 24, 2020

Thanks for the encouragement - you've given me something to think about.

Here's a photo of two of the timed runs. The biggest thrill was the 227 MPH speed at the 1.5 mile market in a modified Ford GT. That was quite a buzz, but the car "danced" more than I'd ever experienced before that ride. Luckily we were on an airport runway and it wasn't an issue, but my head thought otherwise. Nothing like felling like you're going to soil yourself at 227MPH when the car drifts two lanes in each direction. The split times are at 1/2 and 1 mile. Hitting 183 in a half mile is quite an experience! The picture shows the cars - 2012 458, 2006 Ford GT. We're at Mojave airfield, and had to stop racing when an F18 was taking off just after dawn. An awesome day!

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AD211 · Sep 24, 2020

AlfistaPortoghese said: ↑

Great questions, sir. I’m sure you’ll get much food for thought from more experienced members than myself, but anyway I’d just like to add the following:

1) A 458 is never a bad idea.

2) Yes, there are potentially costly repairs, as with most modern super sports cars, but I’m happy to report that they’re the exception, not the norm.

3) In terms of the emotions a 458 will provide you and given the current and foreseeable trend the auto industry is going, I believe the purchase of a 458 (as your last, according to your own words) will cap your lifetime ownership of cars perfectly, and your last may very well be the high point of your ownership experience. What a great last purchase!

Above all: wish you a very happy 70th birthday, regardless of what you end up buying.

Kindest regards,

Nuno.
Click to expand...

4) Get a lift for the garage.

Sent from my iPhone using FerrariChat

tomc · Sep 24, 2020

PTG1 said: ↑

Dude, do it, you will not regret it but, what you will regret is not buying it sooner!
Click to expand...

Doable? What's that mean?!? This should be comfortable financially, IMO.

Seriously. If your finances are in order, do it!
In 4+ years of Ferrari ownership, my only regret is not buying one sooner.

T

lencap · Sep 24, 2020

Unfortunately a lift won't work. A support beam limits the height to a single car. Right now this is the other garage dweller - a 2020 BMW R Nine T/5, a wonderful machine that I enjoy fully (and it fits in the garage!):

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PhilNotHill · Sep 24, 2020

Annual service is <$900 per year.

Get the power train warranty. Mine was $4,900 for a year.

Enjoy.

Chadly · Sep 24, 2020

The 458 is nothing like the up keep of a 360 or 430. You only live once and the 458 is so fun to drive. By far the best bang for the buck.

wthensler · Sep 24, 2020

One of the reasons I stretch daily at the gym is to be able to fit into my Spider when I turn 80. This car is just way too much fun to miss out on. Like other posters here, I just wish I'd done it sooner.

Behind the wheel I really feel a certain 'oneness' with the car.....hard to describe but definitely there in spades!

Upgrade your exhaust system, pop the top, set it in Race Mode, and (really, really) enjoy. Nothing else will matter.

ttforcefed · Sep 24, 2020

458 is the absolute best bang for the thrill buck in ferrariland with almost no downside, and maybe some ups. it's a supercar

cole328 · Sep 24, 2020

Just do it!....

Sent from my iPhone using FerrariChat

ferrarifam · Sep 24, 2020

I to encourage you to take delete we only live once and it sounds like you're in a position where you can afford to get a 458 as you are in the sunset of your life. Let us know what you decide.

IloveGT · Sep 24, 2020

do it. period.
We have gone to enough funerals at our ages. Why wait!

italiafan · Sep 24, 2020

Get the nicest one you can afford with full service records and a fair amount of miles, avoid garage queens.
The more miles, within reason, the better the car is.
As Dustman said there shouldn’t be much in the way of depreciation at this point, with right spec possibly modest appreciation.
You are turning 70, congrats, you aren’t going to live forever...get the car and begin road trips to the NC mountains!
(Oh...get rid of the Tesla and daily the Italia.)

kiryu · Sep 24, 2020

at 70, i think u deserve one asap. You worked and sacrificed for your kids etc. and now is the time for yourself. As long as you have good finances to last you for a while. Def dont do it if it stresses you out too much (like no cash for emergency etc.)
With that said it's probably one of the most reliable ferraris ever. Yes the electronic things fail but that's a hit and miss (sensors in gear box, dash screens, seat controls etc.) expensive when it breaks but it's uncommon. And honestly, other than fluids and tires there's really not much else to do (no clutch to replace, no soft top to worry about, brakes last a very long time as long as u dont track. It's a car that's hard to replace, performance, sound, the design, the badge...and with all that it will always be worth something (limited depreciation)

Extreme1 · Sep 24, 2020

There’s no re-do’s on life. Get it!

My boss said he needed a re-do a couple days ago. I felt bad for him.

Sent from my iPhone using FerrariChat.com mobile app

Graz · Sep 25, 2020

lencap said: ↑

Greetings - I sold my 2001 360 spider 3 pedal car years ago, just before the prices began to skyrocket. Despite the terrible timing I didn’t feel terrible about my decision since I really prefer a coupe. Adding to my relatively mellow lack of no longer owning a Ferrari, the car needed lots of little things on a regular basis that frustrated me quite a bit. The final reason for selling was the inability to drive it “with verve”. I live in a city of 500k people filled with congested roads and aggressive speed limit enforcement. All of these things, admittedly minor in scope, made the ownership experience less than I hoped.

After going through many cars since then, I’ve arrived at a Tesla RWD Model 3 as my daily driver. It’s not a Ferrari in any way, but as a practical and enjoyable car it’s well suited for the type of everyday driving I do. As much as I never thought I’d write this I actually use the auto driving capability frequently at night while on longer rides. In poor lighting conditions or bad weather it’s a low stress way to ease my aging eyes and reflexes.

What’s changed is the pending arrival of my 70th birthday in less than a month. A few years ago my friend let me drive his 2012 458 on a timed course from a standing start to a speed of 182+ at the measured 1.5 mile finish line. I never forgot that run, nor how utterly comfortable driving at speed was. The car was like it was on rails. I’ve been thinking of getting 2012 or later 458 as my final car purchase, but feel unsure about putting so much money into a toy that won’t be used much on a relative basis. I also never expected to consider a sports car without a clutch pedal.

Getting this car would be a considerable purchase, but doable. It would be a PITA since I only have a 2 car garage and my wife’s car has a guaranteed spot. That would push the Tesla outside, making charging a bit of an issue since that’s inside the garage attached to the rear wall. Again, that’s not a deal breaker.

What I am concerned about is upkeep costs, depreciation and little Ferrari surprises that pop up. I’d imagine a one owner car reasonably equipped with a good history will be $170k and up, but I haven’t looked at the market in a long time. I don’t see the car falling much below $120k, but it could, and if it does so be it. I can handle the depreciation. I’m also considering higher mileage cars. I know an owner who bought a high mileage car at a great price. It was well driven, but well maintained. He now has just under 100k miles on it and hasn’t had any significant issues. At my age driving it frequently makes the most sense - let my kids worry about resale.

Thoughts?
Click to expand...

Absolutely 100% do it. There are no guarantees on tomorrow and this life is no dress rehearsal. Own one of the greatest Ferraris that ever came out of Maranello. You won’t regret it. The 458 is amazing. Best of luck and drive it in good health!

turbokraft · Sep 25, 2020

Sir , I am 10 years behind you and live in a similar driving environment, a Tesla would be perfect for me daily. I bought a 458 2 years ago and my only regret is not driving it more. This car is pure driving emotion, every time I start it my spine tingles, pulse quickens, from idle to redline the car just plain feels right. I own more powerful cars but none that excite the senses the way this does. If I could only have one car the rest of my life it would be a 458. I do love the 3 pedal cars but that aside this is more fun than anything I have ever driven.

Cigarzman · Sep 25, 2020

italiafan said: ↑

Get the nicest one you can afford with full service records and a fair amount of miles, avoid garage queens.
The more miles, within reason, the better the car is.
As Dustman said there shouldn’t be much in the way of depreciation at this point, with right spec possibly modest appreciation.
You are turning 70, congrats, you aren’t going to live forever...get the car and begin road trips to the NC mountains!
(Oh...get rid of the Tesla and daily the Italia.)
Click to expand...

This ^^^^^^^. This life we have is not a dressed rehearsal. Best , Kirk.

3POINT8 · Sep 25, 2020

lencap said: ↑

Thanks for the encouragement - you've given me something to think about.

Here's a photo of two of the timed runs. The biggest thrill was the 227 MPH speed at the 1.5 mile market in a modified Ford GT. That was quite a buzz, but the car "danced" more than I'd ever experienced before that ride. Luckily we were on an airport runway and it wasn't an issue, but my head thought otherwise. Nothing like felling like you're going to soil yourself at 227MPH when the car drifts two lanes in each direction. The split times are at 1/2 and 1 mile. Hitting 183 in a half mile is quite an experience! The picture shows the cars - 2012 458, 2006 Ford GT. We're at Mojave airfield, and had to stop racing when an F18 was taking off just after dawn. An awesome day!

View attachment 3010503
Click to expand...

what a day indeed

Napoli · Sep 25, 2020

......”At my age, driving it frequently makes the most sense - let my kids worry about resale.”

There you go!

Manda racing · Sep 25, 2020

Make sure you don’t have bad knees— it hurts getting in my 430.

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