Have a question for a Ferrari expert?

It'll never be a collector car so just drive it and enjoy it - or if thats too stressful sell it - or have a read of the mileage anxiety thread a couple of days ago

 

Tim, in my very humble opinion, the horrible truth is if your exclusive aim is to resell, every single mile will hurt value. A 2.000 mile 488 will be worth more than a 5 or 6.000 mile 488. And a 5.000 mile 488 will be worth a premium over a 10.000 mile 488.

Every mile counts, I’m afraid. Even more so with very recent cars. In the end, it’s a matter of what amount of loss of value you’re willing to accept and live with. It’s a very personal question of personal tolerance to loss. I’ve had friends who drove a couple thousand miles because they wanted to resell and lose as little as possible, and friends who daily drove it even though they were always intending to resell.

Resale-wise, I think condition and spec matter more than mileage (at least to an extent and within a certain interval).

P.S: I shouldn’t have replied at all, as you’re aiming for replies from a Ferrari expert and I do not consider myself one.

Kind regards,

Nuno.

 

How long do you want to keep it? I’d try to stay at 1k mile a year


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The value on the 488 will be depreciating from now for the next 15 years. I’ll hazard a guess of 7k per year lost whether you drive it or not. Could lose more than that...

So you should enjoy it and drive it or just get out now and buy another house...

Unfortunately my crystal ball says anything over 10k miles is out of the highest price point. That’s why you rarely see any car at Marshall Goldman in Ohio over the 10k mark.

the sweet spot for most buying a Ferrari seems to be 15-24k miles. Once you hit over 40k. Most buyers will opt for a different car unless price is discounted. But if the car is unique and religiously maintained with an owner that cared and had all records, original accessories (like multiple keys, window sticker, etc) then those cars will still attract buyers and be less mileage sensitive.

Robb

 

It seems that the 10k and under Ferraris do seem to command a premium, although sometimes smalll.

 

Sell it now. Put the cash into a high interest savings account, sit on it for a year or so then buy the F8. The longer you keep the car the more money you lose regarless of milage.

Once you have the F8, Ferrari will come out with something else, you will want that one..its a viscous cycle.

 

To answer your question.

First milestone is 5,000 miles.

Second milestone is 10,000 miles.

After that, it doesn't seem to matter. But, keep in mind, we're talking private buyers. If you're thinking trade in value, your pusherman will eventually have the "talk" with you. All modern production Ferraris depreciate to about 1/3 of MSRP. That car you were so happy to buy new for $425k, will be worth maybe $250k as a trade in three years down the road. If you wanna run with the big dawgs, you gotta lift yer leg high.

 

The first milestone to be avoided was to purchase the 488. The next will be the F8. Both will lose bigly driven or not if that is your concern. Buy it to drive it or don't play to start with.