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Best Ferrari model for first time ferarri buyer - for around $85-90K

Discussion in 'Ferrari Discussion (not model specific)' started by supernut, Feb 9, 2020.

  1. supernut

    supernut Rookie

    Feb 9, 2020
    9
    Full Name:
    nasim khan
    I am 67 years old in excellent health and have never owned a Ferrari. I would like to buy a Ferrari, keep it for 8-10 years putting 3-5K a year. Which Ferrari model and year is the best one from low maintenance cost and resale value? My price target is around 90k.
     
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  2. JP365

    JP365 Formula Junior

    Mar 8, 2007
    892
    Chicago
    Full Name:
    John Fanning
    #2 JP365, Feb 9, 2020
    Last edited: Feb 9, 2020
    Welcome to Ferrarichat. This is an often discussed topic, and the search feature is your friend. We need to know a little about you to answer your question. Do you plan to work on your car? Even if it is just basic maintenance, this is a huge factor. The car is the price of admission. The real costs over ten years will be the maintenance. Not as much as the cost of the car if you buy a well maintained car to start with, but if you buy one that has been neglected, you could be in for several five figure repair bills. Second, what’s your car background? Do you come from vintage muscle cars, modern corvettes, other high performance European cars, etc. Ferraris are an acquired taste. Some people put up with their quirks, others don’t. Fourth, what are your Ferrari needs? E.g. you and your wife driving around the southern states on long road trips, track day car, planning to take grandchildren out for ice cream? Paddle shifters or traditional stick. Automatic?! Coupe, convertible, two seats, four seats. You get the idea. I’m sure others will chime in with more questions and suggestions. Good luck with the search.
     
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  3. Ferrari 308 GTB

    Ferrari 308 GTB F1 Veteran

    Feb 21, 2015
    5,803
  4. supernut

    supernut Rookie

    Feb 9, 2020
    9
    Full Name:
    nasim khan
    Hi JP365,

    Thanks for your quick reply. Here are answers to your questions;

    1. No I do not work on my cars
    2. First my car back ground - for the last twenty years I have owned 5 Land rover SUVs and a number of sports and sedans that included Mercedes, BMW, jags, SL550 convertible, BMW Z4 - currently I have a Range Rover, a Z4 and an antique 1962 Morgan Plus 4.
    3. My Ferrari need is just a fascination of this beautiful brand that I would like to own and just drive around - life is too short - hopefully i have another 20-25 years -
    4. We would definitely like a convertible - I like the California hard top but not sure California is the right model for me - I had a SL550 hard top convertible and loved it.
    hope this is helpful.
     
  5. Meister

    Meister F1 Veteran
    Silver Subscribed

    Apr 27, 2001
    5,068
    Duluth, MN
    Full Name:
    The Meister
    #5 Meister, Feb 9, 2020
    Last edited: Feb 9, 2020
    These questions are always hard to answer. But don't max out your budget just on the car. Keep some $10-15k in reserve for maintenance.

    modern feel with ease of usability
    360 modena
    430
    550/575
    California

    More old school classic car feel and as such old school problems like finicky windows, HVAC, small stuff that can get tiresome

    308/328
    348/355
     
  6. supernut

    supernut Rookie

    Feb 9, 2020
    9
    Full Name:
    nasim khan
    Hi JP365,

    Thanks for your quick reply. Here are answers to your questions;

    1. No I do not work on my cars
    2. First my car back ground - for the last twenty years I have owned 5 Land rover SUVs and a number of sports and sedans that included Mercedes, BMW, jags, SL550 convertible, BMW Z4 - currently I have a Range Rover, a Z4 and an antique 1962 Morgan Plus 4.
    3. My Ferrari need is just a fascination of this beautiful brand that I would like to own and just drive around - life is too short - hopefully i have another 20-25 years -
    4. We would definitely like a convertible - I like the California hard top but not sure California is the right model for me - I had a SL550 hard top convertible and loved it.
    hope this is helpful.
     
  7. supernut

    supernut Rookie

    Feb 9, 2020
    9
    Full Name:
    nasim khan
    Hi JP365,

    Thanks for your quick reply. Here are answers to your questions;

    1. No I do not work on my cars
    2. First my car back ground - for the last twenty years I have owned 5 Land rover SUVs and a number of sports and sedans that included Mercedes, BMW, jags, SL550 convertible, BMW Z4 - currently I have a Range Rover, a Z4 and an antique 1962 Morgan Plus 4.
    3. My Ferrari need is just a fascination of this beautiful brand that I would like to own and just drive around - life is too short - hopefully i have another 20-25 years -
    4. We would definitely like a convertible - I like the California hard top but not sure California is the right model for me - I had a SL550 hard top convertible and loved it.
    hope this is helpful.
     
  8. lencap

    lencap Formula Junior

    Nov 20, 2003
    275
    Raleigh, NC
    Greetings! I've got a few years on you, but had the same question. Years ago I bought a 2001 360 spider with manual transmission. During my ownership I had several issues, nothing glaring, but all ranging in the $1-3K range to sort out. The other concern is that my clutch was approaching a replacement (prior owners hadn't been very careful/skillful and while it wasn't slipping, it was clearly not as strong as it could be), and the catalytic converters were also soon to be in need of replacement/repair - those two items would be more expensive than the little things I just mentioned. I'd also need tires - tread was usable, but the tires had aged out under my ownership. The car was wonderful, but the dream of ownership was met with the reality of constant things that needed attention. In the end I sold it, just before the prices began to skyrocket.

    My point? It boils down to a few things: (1) even with a PPI things can, and likely will, go wrong - budget for them; (2) finding a car with a single owner will sell for a premium - and likely be worth it. The car will likely be well maintained, carefully driven - that may help with future repairs, and also shows the pride of ownership from the original owner. This isn't likely with an older car, but when in doubt, fewer owners is a better bet, in general - many new owners think 0-60 times are the key to a Ferrari and often abuse the drivetrain - that's why I prefer fewer owners; (3) finding a car in your price range will limit your search to older 8 cylinder cars. A 2002 360 doesn't sound old, but it is becoming harder and harder to find clean cars in your price point. Paying a premium for the right car is not a bad strategy.

    The perennial question of finding a car used by yourself or using a dealer is one best left to your own thoughts, as well as the knowledge base from this forum. For me, I chose a well known independent dealership, paid a bit more than if I found it myself, and was happy to have the help of a pro. The issues I faced with my car weren't unusual, nor were they the result of the selling dealership. Ferraris are not like "normal" cars - I'd equate them to airplanes - they need "annuals", strict maintenance and being run regularly.

    For your budget you may find that a higher mileage car is a good place to look. If it's been maintained, has records, and checks out in a PPI, the price will likely be lower than average. And from what you posted you actually want to drive your car - 25K-50K over the coming 8-10 years. Buying a "garage queen" with lower mileage and then putting on the miles you anticipate will likely be a steeper depreciation curve than buying a higher mileage car to start. Finally, a higher mileage car was likely driven more often, and for longer distances. It's critical to properly warm up these cars before enjoying them, and a lower mileage car may not have always followed that pattern.

    On the other hand, Ferrari ownership is like no other. Even if you never drive it you'll just stay in the garage and admire the lines, subtle features, and everything to do with it. Enjoy the ride - figuratively and literally.
     
  9. ross

    ross Three Time F1 World Champ
    Silver Subscribed Owner

    Mar 25, 2002
    30,355
    houston/geneva
    Full Name:
    Ross
    no question: 430
     
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  10. BillyD

    BillyD Formula 3
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    Feb 28, 2004
    1,514
    Pacific Northwest
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    Bill
    I agree
     
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  11. EastMemphis

    EastMemphis Formula Junior
    Silver Subscribed Owner

    May 25, 2019
    442
    Memphis, TN
    Full Name:
    John
    #11 EastMemphis, Feb 10, 2020
    Last edited: Feb 10, 2020
    Owning a non-warranty F car is going to be expensive. For $90k, you could get a well worn California or a F1 360/430. Maybe a decent 355 Spider or an older 328 too.

    The issue here is that any of these cars can run up a huge maintenance bill with a simple visit to your local mechanic. That mechanic, unless a factory trained and conscientious soul, will drain your bank account at a rate that will shock you.

    The bottom line is this: There are no cheap Ferrari's. You either pay up front or pay later. Even a seemingly perfect example that passed the PPI with flying colors is going to surprise you. These cars throw ODB codes like they are Frisbees at the dog park. If you're not capable of dealing with these issues yourself, you're going to be paying a lot of money for someone else to do the sleuthing.

    I suggest you go for a 2016-17 SL63 and forget the Ferrari. While the AMG isn't as exciting as a Ferrari, it is a car you can drive everyday and not think about the surprise bills. You already had a SL550. Why not step up to the performance of an AMG while still keeping the reliability of a Mercedes?

    The car I had before my 360 Spider was a 2017 SL63. Great car. Fantastic performance. Looks stunning. Just not a Ferrari.

    Image Unavailable, Please Login
     
  12. LightGuy

    LightGuy Three Time F1 World Champ
    Silver Subscribed

    Oct 4, 2004
    30,959
    Texas
    Full Name:
    David
    New cruiser: California

    Newer sports car: 430f1

    Best investment ( my advice ) : manual 360
     
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  13. RonH

    RonH Formula Junior
    Silver Subscribed

    May 29, 2016
    722
    Newport Coast, California
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    Ron H
    I have contrary views in comparing Ferrari candidates to a Mercedes.

    I have owned both Mercedes S coupes and SLs. Unless you get them with the ABC hydraulic suspension system the Ss and the SLs drive like boats. Ferraris handle far better in the twisties, even the far bigger 4 seater Ferraris. In terms of appearance and handling head to head I would far rather have a California over a SL.

    In terms of cost of ownership I think the SL is going to ultimately cost far more than the California. Both are well engineered cars and the service costs for both will be in the range the OP mentioned. By all accounts that i have seen the California does not suffer many of the mechanical issues of many of its predecessors and is fairly reliable as a daily driver. But the real key to cost of ownership here will be depreciation. A 2017 SL63 is going to suffer from massive depreciation (my 2016 S coupe that I sold a year ago lost $35K in one year). I think the SL is going to be worse in terms of depreciation because it is becoming the ugly stepchild of the MB lineup with the AMG essentially replacing it as the go to sports car. I suspect a $90K California will be much closer to bottom than a #90K SL.
     
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  14. Ferrari 308 GTB

    Ferrari 308 GTB F1 Veteran

    Feb 21, 2015
    5,803
    I see you like European cars a lot ,no love for the new C8?
     
  15. F612

    F612 Formula Junior

    Feb 5, 2018
    345
    Leeds,AL
    Full Name:
    David D. Hood
    The absolute best deal on the market today is the F 612 Scaglietti.
    It’s not a convertible but it is V12 and 4 seats. The OTOs better but more expensive.
     
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  16. Caeruleus11

    Caeruleus11 F1 Veteran
    Rossa Subscribed

    Jun 11, 2013
    9,203
    For the desired budget I would be looking at either 360 or 430.
     
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  17. EnzoItaly

    EnzoItaly Karting
    Silver Subscribed

    Sep 29, 2016
    78
    A well sorted 456 might be the perfect fit... go drive a 360, a 328 and a 456... they offer very different driving experiences! For example you might prefer the V8 scream or the V12 symphony. By the one that sets your heart on fire.


    Verzonden vanaf mijn iPhone met FerrariChat
     
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  18. supernut

    supernut Rookie

    Feb 9, 2020
    9
    Full Name:
    nasim khan
    Thanks everyone for your kind responses. Please see my commnets below;

    Lencap,

    You have interesting observation “Buying a "garage queen" with lower mileage and then putting on the miles you anticipate will likely be a steeper depreciation curve than buying a higher mileage car to start. Finally, a higher mileage car was likely driven more often, and for longer distances. It's critical to properly warm up these cars before enjoying them, and a lower mileage car may not have always followed that pattern”. This is absolutely contrary to what I have been thinking – buy with low mileage with few owners car and when I will sell, with still lower mileage, perhaps depreciation may not be as steep. But I will keep your advice in mind.

    EastMemphis,

    I like your advice – I am in no rush and will keep looking for a year or so and if I do not find something that I fall in love then I will go with a SL option – I loved my SL550. One question – and this is for LightGuy also - am I better off with a relatively recent 2010-2011/2012 California model vs. an early 2000 F1 360/430 (probably they all will be in $80-90K range) from maintenance and depreciation perspective?

    Ferrari 308 GTB, Yes, I loved Corvettes when in college – could never afford it and settled for a Chevy Camaro when I got out of college. I understand C8 are mean machines.


    So bottom line question for the group is, from a maintenance/depreciation perspective am a I better off with relatively recent California (granted it may not be absolute ultimate machine) vs. an early 2000 (20-year-old) machine. I have a 1962 antique Morgan that I love and probably will never sell but it is a handful to maintain.
     
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  19. LightGuy

    LightGuy Three Time F1 World Champ
    Silver Subscribed

    Oct 4, 2004
    30,959
    Texas
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    David
    Manual 360s are bottomed out and turning up IMO.
    California will continue to drop. How far ? Who knows? 40 k ?.
    A tradeoff less Cali maint vs more depreciation.
    Manual 360 will be a classic.
    Cali.....no way except manual ones.
     
  20. paulchua

    paulchua Cat Herder
    Moderator Owner

    Jul 1, 2013
    6,948
    Menlo Park, CA
    Full Name:
    Paul Chua
    Welcome! Not sure if this was asked yet, but also consider your body frame and height. Some of the older cars can be quite snug.
    Looking forward to hearing about your journey.

    Cheers
     
  21. vrsurgeon

    vrsurgeon F1 World Champ
    Silver Subscribed

    Dec 13, 2009
    13,216
    Charleston, SC
    Full Name:
    Curt
    The only answer that I can give to the Op question:

    Whichever one makes your heart flutter looking at it and gives you eager excitement at the thought of sitting behind the wheel. It's like choosing from a beauty pagent lineup which one to take on a date. You just know... THAT ONE. Put ownership costs aside, all will give your wallet a squeeze. its the emotion that keeps you happy regardless.

    If it's for a trophy: "I have a Ferrari!". Then the answer is equally simple. Any one.
     
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  22. ross

    ross Three Time F1 World Champ
    Silver Subscribed Owner

    Mar 25, 2002
    30,355
    houston/geneva
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    Ross
    supernut, have you driven any of these cars?

    what is it about a ferrari that you like? try to narrow down the aspects that are pushing your buttons.

    my guess is you like the engine noise, you may like the mid engine aspect, you may like the racing history, you may like the way you think it will make you feel, you may like the relative exclusivity.

    IF you narrow down the aspects that are actually attracting you to the marque, then we might be able to steer you more accurately.
     
  23. SCEye

    SCEye F1 Rookie

    Aug 28, 2009
    2,770
    Norcal - Peninsula
    no one is suggesting a V12?
    550 and 575? higher mileage ones can meet OP's criteria.
     
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  24. supernut

    supernut Rookie

    Feb 9, 2020
    9
    Full Name:
    nasim khan
    Thanks guys – please see my comments below;

    LightGuy – I will definitely put Modena 360 manual on my list.

    PaulChua – on a good day, I am 6 feet, 185 ponds - I am a 6-7 days gym guy with 1½ hour intense workout routine.

    Vrsurgeon – you have asked the right question – If you look at the cars I have owned that I shared in an earlier post, you should be able to tell that my choices are not based on performance/technology – hate to admit but they are all typically about the brand name that I would like to own/drive – Ferrari is no different – it is not technology or 0-60 in 3.5 second about Ferrari – it is about just the Ferrari name that I would like to own – as I think I can pretty much pull it off at this stage in my life - having said that, I like to keep financial impact as low as possible – and that is the reason for this post to ask for advice/learn from folks who have perhaps owned multiple Ferraris.

    Ross – I have never driven a Ferrari – hope to do it soon as I kick off my adventure. Regarding your question “what is it about a Ferrari that you like?” – please see my response to vrsurgeon above.

    ScEye – thanks - I will keep your advice in mind.
     
  25. ross

    ross Three Time F1 World Champ
    Silver Subscribed Owner

    Mar 25, 2002
    30,355
    houston/geneva
    Full Name:
    Ross
    if you are located near houston i will let you take the 430 out for a spin.
    you need to experience what you are talking about.

    of the cars mentioned so far, the 430 will be the most representative of what you are probably looking for in a ferrari, with the least amount of maintenance worries (it wont be 0, but it will not be terrible).

    the 575 is the bargain of the moment. i would like to buy one right now.
    but, it is not as representative of a 'ferrari' experience the way you are imagining it.

    the cali, just isnt. i wont elaborate because i dont want to hurt anybody. but you would not be as happy.
     

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