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FINAL TALLY! Cost Of Ownership

Discussion in 'Ferrari Discussion (not model specific)' started by enjoythemusic, Mar 9, 2004.

  1. enjoythemusic

    enjoythemusic F1 World Champ

    Apr 20, 2002
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    Steven
    Ok, was re-arraging my THICK service book and decided to add up the costs. No accidents and did not add the $1,000 for replacing windshield (deductable) by previous owner. This is parts and labor, but some labor was "free" because previous owner or myself did the work. Insurance/gas costs NOT included.

    Car: 1985 Euro 308GTS just serviced (overly thorough... anal retentitve... your pick) 60k major. Records are from June 22, 1988 where it had 8,786 miles until March 9, 2004 with 59,000 miles.

    Grand Total: $31,520 (USD)

    Enjoy the Drive,

    Steven R. Rochlin
     
  2. aawil

    aawil Formula 3

    Aug 10, 2002
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    Aaron
    So this mean from 98 to now 31,000 has been spent to maintain it?I assume that doesn't count the cost of the car.That really is crazy.I guess I can give up on the idea of getting one.I'm starting to think the expense isn't worth having that badge on the front.
     
  3. aawil

    aawil Formula 3

    Aug 10, 2002
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    Oops from 88 not 98.Still seems like alot of money to me at least.
     
  4. Kds

    Kds F1 World Champ

    Here's my worst one......it's from memory too......I've been scarred that bad !!!

    1988 Porsche 928 S4
    112,000 - 144,000 KM
    2 years of use
    $ 11,400 CAD of service/maintenance

    I know it's not a Ferrari......but I have also felt your pain.
     
  5. parkerfe

    parkerfe F1 World Champ

    Sep 4, 2001
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    Franklin E. Parker
    That's not that bad. An average of 3138 miles per year for 16 years at a cost of $0.62 per mile is pretty good for a Ferrari. And the car is probably still worth about what you paid for it. If you would have driven it a little more the cost per mile would have been a little less.
     
  6. tw1nturb0

    tw1nturb0 Karting

    Feb 2, 2004
    148

    So basiclaly the total Cost of Ownership in your ride's case from 1988 to 2004 not incl gas/insurance was just under $2,000 per year? Not bad...
     
  7. ghost

    ghost F1 Veteran
    Lifetime Rossa

    Dec 10, 2003
    9,836
    Singapore
    I get $0.63, but who's counting. :D

    Think that is a great cost-per-mile amount. Most people have indicated the average is around $1.50 - $2.00, so I think you've outperformed. Given that I've just bought mine, and have driven it barely 40 miles, my cost of ownership per mile is currently at $250 (yeah, that's without the decimal). :D
     
  8. enjoythemusic

    enjoythemusic F1 World Champ

    Apr 20, 2002
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    1988 to 2004 equals 16 years. It has technically had THREE majors during that time plus odds and ends including:

    Better exhaust

    Etoile rims

    ALL new light assemblies/lens everywhere inc fogs and map/door light

    ALL new emblems

    EBC brakes/Goodridge brake lines

    Xenon headlight upgrade

    New "custom" fuse blocks to MUCH better all glass

    Power Locks

    New shift knob/floor pedals/floor mats

    New complete lighter assembly (both male and female parts)

    New Wheel center caps

    One new headlight motor

    New Door Lock Strikers for both sides...

    So...

    Basically the stuff to "refresh" the car. Still have a few other bits to do (respray Euro front spoiler and all new suspension bushings). Actually the cost is about right if you look at time/work/parts involved.

    Enjoy the Drive,

    Steven R. Rochlin

    PS: have ZERO plans to EVER let her go.
     
  9. aawil

    aawil Formula 3

    Aug 10, 2002
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    Aaron
    I guess 2 grand a year isn't that bad.When I saw the lump sum it seemed like alot.When broken down it seems about right I guess.
     
  10. Dr C

    Dr C Formula Junior

    Dec 1, 2002
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    Ed
    And, for those people who have purchased economical cars, like Honda and Toyota, over the same time frame, they have probably spent a lot more on just depreciation. If they bought three Hondas for, for example, 20 k each, they would probably have chalked up 30 k in decpreiation.

    Frankly, then, having the badge on the front, sides and back is probably worth it. Besides, for 16 years you have owned and driven a Ferrari!
     
  11. enjoythemusic

    enjoythemusic F1 World Champ

    Apr 20, 2002
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    Echrist,

    Ack, don't remind me!!! My then new 1993 Honda Del Sol SI ($16k msrp) is now worth $3.5k (65k miles on the speedo) and has cost me about $4k to maintain from new.

    Next fun car for here you ask (to ADD to the 308)? A nice shiney red or black Testarossa. G-d i am a GLUTTEN for punishment eh? ;-)

    Enjoy the Drive,

    Steven R. Rochlin
     
  12. 96impalaSS

    96impalaSS F1 Rookie

    Dec 8, 2003
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    Chris
    Holy crap Steven, how long did that take to do?
     
  13. enjoythemusic

    enjoythemusic F1 World Champ

    Apr 20, 2002
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    96impalaSS,

    Not too long actually. About an hour or so.

    The receipts book was in good order as i received it from the previous owner. After rearranging a few receipts i used a calculator to add and also adjusted some of the parts price due to the fluctuation of the British Pound to USD as some parts were sourced from Ferrari UK over the past year. Please keep in mind there is "free" labor not accounted for as the previous owner and myself have done MANY hours of labor on her.

    Enjoy the Drive,

    Steven R. Rochlin
     
  14. Kingpin328

    Kingpin328 Formula Junior

    Nov 7, 2003
    433
    Steve,

    Those chi.... (correction) youngladies frequenting your avatar, those would be your, err.., nieces, right ?!
     
  15. 96impalaSS

    96impalaSS F1 Rookie

    Dec 8, 2003
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    Chris
    That current one looks like she is "old meat curtains" Gauge.
     
  16. Tyler

    Tyler F1 Rookie

    Dec 19, 2001
    4,274
    dusty old farm town
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    Steve the cost per mile looks really reasonable to me. Factor in depreciation over the long haul and it starts to look downright economical compared to so-called economy cars.
     
  17. enjoythemusic

    enjoythemusic F1 World Champ

    Apr 20, 2002
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    Kingpin328 and 96impalaSS,

    Ok, change the Avatar. And yeah, thats me in there with a... friend.

    Enjoy the Drive,

    Steven R. Rochlin
     
  18. Kingpin328

    Kingpin328 Formula Junior

    Nov 7, 2003
    433
    Hmm, to think we have a saying like "better a good neighbour than a far friend" or something. With friends like that ... sod the neighbours!

    Some birthdayparties you must have!
     
  19. enjoythemusic

    enjoythemusic F1 World Champ

    Apr 20, 2002
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    Kingpin328,

    If you must know, celebrate my Bday in Brazil / Interlagos. And if you have to ask more, then... welll... you know :)

    Enjoy the Drive,

    Steven R. Rochlin

    PS: do not get me started about my neighbor stories... as much as they have tried and tried RULES IN LIFE: NEVER co-workers, neighbors, friend's sisters, etc.

    PPS: early Bday celebration with Fchatters. http://www.enjoythemusic.com/bday2003/fchat/ Birdman loved the steaks, the gals seemed to enjoy the chosen wine... Am planning something MUCH larger for 2004. As a teaser... Have a few cases of Don P 1995 :)
     
  20. G-Car-Man

    G-Car-Man Karting

    Nov 21, 2003
    236
    South of Boston
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    Greg K
    Steven, that is a beautifully detailed engine bay... If you're interested in selling the 1985 to upgrade to a TR please drop me a PM...
     
  21. enjoythemusic

    enjoythemusic F1 World Champ

    Apr 20, 2002
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    G-Car-Man,

    A most humble thanks my friend. Thanks and all, but NOT for sale or trade ever. Plan to be the LAST owner of her.

    Got pics of the TR? Will be seriously looking in June or so :)

    Feel free to e-mail me.

    Enjoy the Drive,

    Steven R. Rochlin
    steve at enjoythemusic.com
     
  22. alanhenson

    alanhenson Formula 3

    Dec 2, 2003
    1,335
    Now imagine if that was a vette or a caddy roadster just starting out or other sports cars. Most other cars would be worth nearly nothing at the end, thus losing the complete value of the car, but your car is probably still worth more than 35-50% of it's original value. Factor that in and it does not look nearly so bad.
     
  23. Exoticbro

    Exoticbro Karting

    Nov 1, 2003
    203
    St.Louis, MO
    Full Name:
    Chuck Ligon
    Steven,
    There are a lot of owners who have 3 majors done over 16 years and
    only put 10k miles on the car. These are the ones who's cost per mile is
    so high.

    To me you have to drive these cars to make them worth owning.
    You seem to understand that, and really do Enjoy the drive!!!!!

    Chuck
     
  24. enjoythemusic

    enjoythemusic F1 World Champ

    Apr 20, 2002
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    Chuck,

    Agreed. FYI, received the car with about 52k miles on her and i know the previous owner (Fchat member) really messaged her well.

    Work at home, yet you KNOW i drive her. About 6k+ miles a year is about right. i NEVER worry about long drives/milage. Seems to me the MORE she is driven the BETTER she is! Know of quite a few 3x8's with over 100k on them and they are STILL going VERY strong. This also explains the "extra" costs in the recent 60k major. i wanted EVERYTHING carefully looked and adjusted. Only thing not done was the planned bushings as they will be done when the front spoiler is resprayed. So with nearly 60k she has only BEGUN to "live." :)

    Enjoy the Drive (and music... "That's Amore'" with a few writer's embellishments),

    Steven R. Rochlin


    "(In Maranello where love is king
    When boy meets car here's what they say)

    When the car hits your eye like a big pizza pie
    That's amore
    When the Ferrari seems to shine like you've had too much wine
    That's amore
    The engine will ring ting-a-ling-a-ling, ting-a-ling-a-ling
    And you'll sing "Vita bella" :)
    Hearts will play tippy-tippy-tay, tippy-tippy-tay
    Like a gay tarantella

    When the car make you drool just like a pasta ***iole
    That's amore
    When you drive down the street with a Ferrari at your feet
    You're in love :) :) :)
    When you're driving in a dream but you know you're not
    Dreaming signore
    Scuzza me, but you see, back in old Maranello
    That's amore..."
     
  25. thecarreaper

    thecarreaper F1 World Champ
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    Sep 30, 2003
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    I NEED A JOB
    great thread and pics, you guys are blessed, thanks!!!
     

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