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488 Spider, Buy Now or Wait for New Model.

Discussion in '458 Italia/488/F8' started by SPEAR, Jul 29, 2018.

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  1. SPEAR

    SPEAR Rookie

    Jul 28, 2018
    2
    Full Name:
    Stuart Pearson
    Hi All,

    First post here, be gentle!

    So, I'm looking to purchase a New Ferrari 488 Spider (my first Ferrari) and have a few concerns over timing and residuals etc.

    Specifically, what are your views on buying new this late in the production cycle, and where do you all expect the 488 residuals to be in say about 2-3 years time once the replacement is out and in full swing. At the moment 488's seem to be holding their value OK, but once the new model is out this could change especially when you consider the 488 doesn't have a NA engine.

    Historically I wouldn't normally buy this late with any other brand, but I'm conscious that I need to get my foot on the Ferrari ladder and will have pretty much Zero chance of being allowed to purchase any new models in this range - at least not without a significant wait anyway.

    For reference I currently own a Lamborghini Huracan Spyder which has been a lot of fun I have to say, but the constant attention (which initially was nice at the beginning) is now starting to wear - You know it's time for a change when people get out of their cars at junctions in front of you to take pictures blocking the road!.

    I have been lucky to have access to a 488 Spider for a few days so I know what I'm buying, just wanted to hear your views.

    Cheers

    SPEAR
    ~
     
  2. greyboxer

    greyboxer F1 World Champ

    Dec 8, 2004
    10,427
    South East
    Full Name:
    Jimmie
  3. Clembo

    Clembo Karting
    Silver Subscribed

    Don’t over think the decision. Don’t use logic, just emotion. You bought a Lamborghini based upon emotion not logic. Follow the same path here, only you can decide.

    Yes, it will depreciate. Yes, every day that you don’t own one is less fulfilling.
     
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  4. wasax.rc

    wasax.rc Karting

    Apr 1, 2013
    75
    I guess why buy new? Why not pick up one used now (many with low mileage) enjoy the car and get on the list for the replacement model. The problem with waiting at least for me is by the time it's announced, everyone rushes to get the new one you are 18-24 months and I'm not sure I love buying the initial model year of new model. I like buying late model production runs gently used and wait and see how the replacement shakes out. Just a thought but good question.
     
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  5. jason1st

    jason1st F1 Veteran

    Mar 25, 2004
    5,902
    ATL/CHS/MIA
    Full Name:
    Jason
    I'm also in the market for a 488 Spider. I'll probably buy a 2018 though...... There are so many listed for sale, why not. I haven't totally nailed down where the "real" market is yet but I'm getting there.
     
  6. klinkman

    klinkman Formula Junior
    Silver Subscribed

    Jan 29, 2018
    269
    Silicon Valley
    Full Name:
    Eric C
    This.
     
  7. legendd

    legendd Karting

    Jun 25, 2011
    130
    Los Angeles
    I was at the same boat as you.
    And as people commented here and suggested, I bought a slightly used 2017 and plan to buy a new one when the replacement comes out but only about 2 years into the cycle.
    I think that way I satisfied my emotions and logic.
    I'll be in the list for replacement, I won't buy the first year of production and I am super enjoying my 488 now


    Sent from my iPhone using FerrariChat.com mobile app
     
  8. Principissimo

    Principissimo Formula Junior

    Sep 14, 2015
    690
    Milano
    Full Name:
    Bruno
    It will take at least two years to have a new 8 cylinder instead of the 488 spider ;)
    Go for this ;)
     
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  9. ppg70

    ppg70 Formula Junior

    Aug 22, 2017
    598
    Buy it....new or used but buy it!!
     
  10. Viperjoe

    Viperjoe Formula 3
    Silver Subscribed

    I bought new - a 2018 488. No regrets whatsoever. The 488 is without a doubt the absolute best car in its class, and I'm thoroughly enjoying every moment of ownership. I accepted a few compromises with my CPO 2013 458, but got EXACTLY what I wanted by ordering a new 488. More emotion than logic but YOLO.
     
  11. SoCal to az

    SoCal to az F1 Veteran
    Silver Subscribed

    Nov 25, 2012
    6,022
    Arizona
    If you wait for the new car- then why not just wait for the replacement of her replamcent of the 488? After all it will be even better. Actually wait for the replacement of the replacement of the replacement.

    You see my point- the new car won’t be here for a minimum of 3 years. And likely you will pay a premium. So why not just get what you want now and worry about the replacement when it comes out.

    You will not make money on this- be prepared to lose money. But the thrill of driving one- can’t be beat!
     
  12. JimPVB

    JimPVB Formula Junior
    Rossa Subscribed

    Apr 24, 2016
    576
    Florida
    A good friend and Ferrari lover (but didn't own one) had been talking about buying a Ferrari when the 458 released, he waited for several years then heard the "replacement" rumors and decided to wait for the 488. He couldn't get one in year one, debated buying used, but decided to wait for either a new allocation, or a used spec he liked. That went on for over a year until he finally found an acceptable 488. He called me on a weekend to tell me he was preparing his garage, and was pulling the trigger that following week. When I received another call from him several days later, I thought he was going to discuss the new car, but unfortunately he was having sudden health issues. That was 7 months ago. He was buried last month, pancreatic cancer, he was 56 yo. There are probably many stories like this among our members.

    I now tell everyone, if you want it, and can afford it, then don't wait.........

    Jim
     
  13. SoCal to az

    SoCal to az F1 Veteran
    Silver Subscribed

    Nov 25, 2012
    6,022
    Arizona
    I’ve made that mistake....waiting for the next one. Problem is by the time the next one comes, people already have moved on.

    The Pista is starting to hit. Mark my words by the end of the year it will be old news and all topics will be on the 488 replacement.
     
  14. rocketman

    rocketman Formula 3
    Silver Subscribed

    Oct 1, 2009
    1,134
    Built in obsolescence is what we are all dealing with.
    By the time a car is brought to market it is already obsolete....the next best thing is already being prepared for delivery.
    If you keep waiting you freeze and wind up wasting time and getting nothing.
    Life is too short !
     
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  15. jason1st

    jason1st F1 Veteran

    Mar 25, 2004
    5,902
    ATL/CHS/MIA
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    Jason
    So what price range do you guys think low mile 2018 Spiders trading at?
     
  16. Alcav5

    Alcav5 Formula 3
    Silver Subscribed

    Jul 28, 2012
    1,821
    Scarsdale, NY
    Full Name:
    Al
    This^

    Just buy it. Trade it in and buy another when the time is right, be damned with the money and enjoy, lol.
     
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  17. Cigarzman

    Cigarzman F1 Veteran
    Rossa Subscribed Owner

    May 7, 2014
    5,188
    Sarasota , Florida
    Full Name:
    Kirk
    You never know , tomorrow may not happen . Buy now and enjoy. You will never see a Brinks truck behind a hearse. Best , Kirk
     
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  18. Ed Thorne

    Ed Thorne Rookie

    May 8, 2017
    8
    Santa Fe, NM
    Full Name:
    Edwin Thorne
    I bought a used 2017 488 off the showroom floor with only 42 miles on. It. Turned in an FF and got a very good price on the “used 488”. Love the car. Find a good low mileage 488 and get behind the wheel.


    Sent from my iPad using FerrariChat.com mobile app
     
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  19. Cigarzman

    Cigarzman F1 Veteran
    Rossa Subscribed Owner

    May 7, 2014
    5,188
    Sarasota , Florida
    Full Name:
    Kirk
    The lower priced spiders 18’s will be close to list or a little below. The 375k-400 plus ~ 25-30 k discount Good luck hunting. Best , Kirk.
     
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  20. MANDALAY

    MANDALAY Formula 3
    Silver Subscribed

    May 23, 2013
    1,632
    AUSTRALIA
    Full Name:
    ANGELO
    I bought a new 488 GTB. Im opinion its your first as mine was the first and you just cant pass on the whole experience. What a trip and now what a great piece of machinery and art.
    If you buy new I wouldn't leave it to much longer as I can see the orders being stopped with all the new Pista and convertibles that need to be built before the new car. As mentioned earlier life is short. If you have the means go for it.
     
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  21. Twosherpaz

    Twosherpaz Formula Junior
    Rossa Subscribed

    Feb 25, 2014
    388
    Thermal, California. USA.
    Full Name:
    Private
    Personally I’d get a collectible 16M before I’d get a standard 488 spider. Naturally aspirated, limited edition, incredible sound.
     
  22. Viperjoe

    Viperjoe Formula 3
    Silver Subscribed

    Just curious, have you ever driven/experienced a 488?
     
  23. Principissimo

    Principissimo Formula Junior

    Sep 14, 2015
    690
    Milano
    Full Name:
    Bruno
    488 Spider is really a great car ;)
    As said I would not wait and would buy it ;)
     
  24. Twosherpaz

    Twosherpaz Formula Junior
    Rossa Subscribed

    Feb 25, 2014
    388
    Thermal, California. USA.
    Full Name:
    Private
    A simple click on my profile would show you I’ve had both the 488 coupe and the 488 spider. I have a few 16M’s and Speciale Apertas. It’s not a question of is the 488 a good car, it’s is it a collectible car. The 16M is, the base 488’s are not. I suggested a 16M as it is collectible, awesome, and similarly priced to the 488 spiders at this time.
     
    italiafan likes this.
  25. obbob

    obbob Formula Junior

    Aug 14, 2017
    630
    If you are concerned about residuals then buy a used one. There are enough of them on the market that you should get a spec you like.

    488 have not held their value as well as its predecessors for a number of reasons (still better than lambo or Mclaren though). Buying new will doubtlessly cost you a lot in depreciation.
     

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