Ferrari F430 ownership experience in Socal needed | FerrariChat
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Ferrari F430 ownership experience in Socal needed

Discussion in '360/430' started by lotus425, Jul 2, 2015.

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  1. lotus425

    lotus425 Rookie

    Jun 7, 2005
    41
    Arcadia, California
    Full Name:
    Kenneth Wang
    #1 lotus425, Jul 2, 2015
    I am finally in the position and ready to take on the experience of Ferrari ownership. My first Ferrari will likely be an early model year F430 or Late model year F360 with my budget set around US$120k.
    I have a vacation home in Southern California where I visit 4 weeks throughout the spring and summer months each year.
    Some questions for fellow Ferrari Owners in SOCAL

    1. Which independent mechanic offers great PPI and service at reasonable price? Eugenio is the mechanic friends are referring me to.
    2. What's the typical insurance and registration cost for a F430 / F360? I am married and 40 years old, no traffic violation clean record.
    3. The cost of maintaining the F430 each year
    4. Depreciation I am expected to incur each year assuming I drive 1000 miles per year.

    Finally the big question. I can rent a F430 from a local exotic rental shop for under $800 for 24 hours and 200 miles. Assuming that I rent the car 4 times per year totalling $3200 as business expense. Will owning a Ferrari F430 (maintenance, registration, smog test, insurance, depreciation) cost more than $3200/year?

    Should I buy or should I rent? Pride of ownership VS the joy of renting difference exotic car each time (Gallardo, F430, Maserati Gran Turismo, Nissan GTR, Porsche 991 Turbo all available at my local exotic rental shop)

    Many thanks in advance
     
  2. Loz997S

    Loz997S Formula Junior

    Aug 26, 2007
    988
    Bay Area
    Full Name:
    Laurence D
    #2 Loz997S, Jul 3, 2015
    I'd say rent, your actuarial approach probably isn't that suited to Ferrari ownership, at the end of the day these cars are huge wastes of money :)

    I own an early model F430 coupe.

    Registration $800, insurance $1200 (I'm in San Fran)

    Depreciation tricky to calculate as the market is moving around a bit (manuals are going up) assume $5000 a year.

    Maintenance allow $2000 a year and have $10,000 ready just in case.
     
  3. SCEye

    SCEye F1 Rookie

    Aug 28, 2009
    2,950
    Norcal - Peninsula
    #3 SCEye, Jul 3, 2015
    agree with Loz.
    also consider the following
    driving a Ferrari 4x/year is likely not ideal for the car.
     
  4. Zcobra1

    Zcobra1 Formula 3
    Silver Subscribed

    Oct 9, 2012
    1,242
    So Cal
    Full Name:
    Bert
    #4 Zcobra1, Jul 3, 2015
    Look into a exotic car member club, a couple around the area.
    Different cars, easy on your limited time here, who wants to spend
    vac time dealing with car issues, and you will have them, even just
    For maintenance.....
     
  5. MaranelloDave

    MaranelloDave Formula 3

    Apr 27, 2010
    2,203
    LA
    Full Name:
    Dave
    #5 MaranelloDave, Jul 3, 2015
    ...and you will likely have more maintenance issues than normal if the car is sitting unused for such extended periods of time.
     
  6. sammyf

    sammyf Formula Junior

    Aug 13, 2004
    259
    Northern California
    #6 sammyf, Jul 4, 2015
    And SoCal insurance premium is easily 2-3x NorCal
     
  7. proof69

    proof69 Formula 3

    Sep 14, 2014
    1,003
    #7 proof69, Jul 4, 2015

    Eugenio is usually booked for months in advance. You would be better off with Craig at Fast Cars in Redondo Beach.
     
  8. lamontlawyer921

    lamontlawyer921 Formula Junior
    Owner

    Jul 1, 2010
    990
    The West Coast
    Full Name:
    Scott
    #8 lamontlawyer921, Jul 4, 2015
    Agreed, Craig at fastcars is the way to go...Redondo beach is close enough in So Cal to handle from Newport to the Valley.

    4x per year, just rent...

    like the old saying, if it Flys, Floats, or F__ks, just rent it...it will be less expensive.
    good luck with the hunt.
    F430 is an awesome car...I've had 2.
     
  9. Perkins

    Perkins Formula Junior

    Dec 22, 2013
    702
    Sacramento
    Full Name:
    Rick
    #9 Perkins, Jul 4, 2015
    Why tie up your capital to purchase an asset that will depreciate whether you use it or not? Renting would match your intended use of the car.
     
  10. Wisky

    Wisky Formula Junior

    Nov 13, 2006
    272
    Fort Lee NJ
    Full Name:
    David
    #10 Wisky, Jul 4, 2015
    I am not from California, so the registration question does not apply to me...

    For your planned usage you may be better off renting. From my experience, these cars depreciate at about $1000 per month assuming ~7500 miles per year use. I pay upwards of $5k for insurance. There is nothing "smart" financially about owning these cars, they are expensive toys, the enjoyment you get out of it has to justify the cost of ownership - for me, I try to drive it as much as I can and it does not bother me to think of the huge unrealized loss that is building as the miles climb and the values of F430 F1's go down. Keep in mind also, when factoring in depreciation, you will likely be buying a car at retail, and when the time comes to move on - selling or trading close to wholesale, so a realistic deprecation spread is 10% of cost right off the bat.
     
  11. lotus425

    lotus425 Rookie

    Jun 7, 2005
    41
    Arcadia, California
    Full Name:
    Kenneth Wang
    #11 lotus425, Jul 4, 2015
    Last edited: Jul 4, 2015
    Thanks for the advice guys. Renting beats owning in my scenario. Too bad F360 is too old for rental fleet. It's all F430 and 458 Italia at the local rental agency. I will enjoy renting various exciting sports cars during my california vacation in the years to come.

    Owning a flashy sports car in my home town (car unfriendly) creates unnecessary attention and hostility from bystanders. Don't feel safe parking it at the local mall, being seen while dropping off and picking up kids from school, can't be seen with this car at work. Difficult to even find one day out of the week to enjoy a Ferrari in my busy schedule.

    The old saying goes "the fastest car will always be the rental car". It sure will be a blast to set the F430 on race mode, launch control on, red lining every shift while pushing the gas to the metal. Just returning the car in one piece without crashing it or causing curb damage. This sounds much more fun than worrying about maintenance, accruing mileage fretting about depreciation, and listening for mechanical failure occurring past factory warranty period taking out the fun of Ferrari ownership.
     
  12. Zcobra1

    Zcobra1 Formula 3
    Silver Subscribed

    Oct 9, 2012
    1,242
    So Cal
    Full Name:
    Bert
    #12 Zcobra1, Jul 5, 2015
    Clubsportiva.com
     
  13. Loz997S

    Loz997S Formula Junior

    Aug 26, 2007
    988
    Bay Area
    Full Name:
    Laurence D
    #13 Loz997S, Jul 5, 2015
    Just don't kill yourself :p
     
  14. SCEye

    SCEye F1 Rookie

    Aug 28, 2009
    2,950
    Norcal - Peninsula
    #14 SCEye, Jul 5, 2015
    well... which is it counselor? what particular ability does the F430 do? :)
     
  15. Formula1r

    Formula1r Formula Junior
    Rossa Subscribed

    Feb 7, 2007
    462
    Los Angeles, CA
    Full Name:
    Ross
    #15 Formula1r, Jul 6, 2015
    Yes!
     
  16. lotus425

    lotus425 Rookie

    Jun 7, 2005
    41
    Arcadia, California
    Full Name:
    Kenneth Wang
    #16 lotus425, Jul 6, 2015
    clubsportiva is located in marina del ray. The rental agency I rent from is elitedreamcars.com located in Walnut california. Great service, better rental rates than clubsportiva for popular models like F430, F458, Gallardo, Huracan. No membership needed. Just a credit card with $5k deposit and proof of auto insurance releases the car.

    Clubsportiva requires $1500 one time membership fee on top of higher rental rates than their competitors in beverly hills. Their car storage service at $350/month is very good for someone who wish to hide cars away from home. Car is hooked up with battery tender, tires rotated regularly and monthly start up and car idle period.
     
  17. netman

    netman Formula 3

    Jun 17, 2008
    1,905
    OC SoCal
    #17 netman, Jul 6, 2015
    How do they rotate tires? Most of the new cars use direction treads. Do they break the tire and rim down, balance, etc.
     
  18. lotus425

    lotus425 Rookie

    Jun 7, 2005
    41
    Arcadia, California
    Full Name:
    Kenneth Wang
    #18 lotus425, Jul 7, 2015
    Call U.S. 1 (866) 719 1600 | International +1 (650) 265 6918
    to learn more about clubsportiva.com

    If I buy a Ferrari as vacation car. I would definitely arrange to have the car stored at their marina del rey location for $350/month.

    Car Storage
    Let us take care of your vehicle the way you would.
    Storing a vehicle of your caliber takes effort and time. Whether it’s finding the ideal environment or performing maintenance, the storage area plays a vital role in how your vehicle operates and looks. Financially, the method of storage can have an impact on how your car is assessed and valued, making this decision an obvious choice for any car enthusiast.

    With our expertise in storing our own Collection vehicles and Member vehicles, you can rest assured that we’ll look after your vehicle with the utmost care in a secure and clean environment. Our indoor storage facilities are temperature regulated, and contain all the proper tools to perform maintenance services as well as professional detailing onsite.

    Essential services include:
    Monthly vehicle detail
    Battery maintenance
    Tire pressure monitoring
    Monthly engine start-up and idle
    Tire rotation
    Access to your vehicle 7 days a week (during business hours)
    In addition to Essential services, the following services are available:
    Mechanical safety checks
    Atmospheric control (CarCapsule)
    Vehicle transport
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    Additional maintenance as required or requested
    Pricing
    Members enjoy rates that start at $350 per month. Learn how to become a Member.

    Non-Member rates start at $500 per month.
     
  19. robertpel9

    robertpel9 Formula Junior
    Silver Subscribed

    Feb 28, 2004
    492
    Orange County CA
    Full Name:
    Robert
    #19 robertpel9, Jul 7, 2015
    I live in SoCal as well here are my 360 costs

    Insurance = $1000
    Annual Registration = $570
    Annual Maintenance Budget to keep car fully up to date = $4000

    Trustworthy Local Mechanic is Randy at RMT Motorsports 5 mins from my house in Yorba Linda

    Throw on gas and misc and you are looking at 6-7k a year in ownership costs (Plus depreciation). A 430 will be higher on everything except mainteance which will be close to a wash

    Pay to play
     
  20. calder1

    calder1 F1 Rookie
    Sponsor Owner

    Aug 26, 2006
    2,913
    Redondo Beach
    Full Name:
    Craig
    #20 calder1, Jul 7, 2015

    I have a friend who is renting out his 360 Spider, his name is Jeff, tell him i sent you.

    http://southbaysportbikerentals.com/
     
  21. yangstein

    yangstein Formula Junior

    Mar 23, 2015
    571
    Orange County, CA
    Full Name:
    Brian
    #21 yangstein, Jul 7, 2015
    Robertpel9,

    Are you driving the yellow 360 on weekends? If that is you, then I see you driving on Yorba Linda Blvd on weekends.. I drive a dark grey 430 spider. My routine is to starbucks next to "Oceans and Earth" and Subway. Then I drive all the way down to get on 91 for a weekend morning ride. If that is you, then we should ride together one of these days. I also use RMT as Randy is honest and very good at what he does.

    Shoot me a PM if that is you. Or are you the one with Red 360 that I seldom see on the YL Blvd?
    There are not many Ferraris around that I see....


    For the thread, I would always want to own one rather than renting... It is always nice to own one rather than driving someone else's car... I personally would not like to drive a car that lots of other people have driven it. It doesn't get personal... Cars and Dogs... You get attached to them for men and if you can afford to rent one, why not owning one? Choose your color, options and all the things that you want.
     
  22. Wisky

    Wisky Formula Junior

    Nov 13, 2006
    272
    Fort Lee NJ
    Full Name:
    David
    #22 Wisky, Jul 7, 2015
  23. robertpel9

    robertpel9 Formula Junior
    Silver Subscribed

    Feb 28, 2004
    492
    Orange County CA
    Full Name:
    Robert
    #23 robertpel9, Jul 8, 2015
    Mine is the red one. Did you and i happen to cross paths a month or so ago on the 91 west between YL blvd and Imperial highway. 430 spider as described blew past me and then we traded spots a few times :) and exchanged nice cars at a stop light

    let me know. I will pm you my number for text

    I am definitely up for a cruise somotime
     

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