Hello. I'm just wondering if I could afford to own a 458. So how much does maintenance cost you? Would it be realistic to put around 130k (USD) cash, and finance the rest? If so, how much will the financing cost? Thanks.
If you have enough to buy it cash do it. If you need to finance prob not a good idea. Doesn't cost much to own but if something were to happen its good to have a nice reserve for any repairs, cosmetic damage etc.
Expect to pay 280K for well optioned 458. Financed my first Fcar with about the same down payment as you mentioned. As long as you can afford the monthly payments with reserves, go for it. My Last 2 F cars (both 458s), paid cash. Minimal to no maintenance costs per year, at least the first 3 yrs. Will need to pay for extended warranty after that.
Tires are not covered by the 7 yr free maintenance (2012s and later). Chose to replace at 7k miles. almost to the wear bars on rear but had a flat and figured new tires would be the wise thing to do. No regrets. Mich pilot ss and P zeros go for about $2k+ for the set of 4. More at the dealer but the TPMS had to be recalibrated and a sensor replaced. Plus the Big O tires guys did not put my Porsche on the lift correctly and caused some minor damage. When you pay so much for a car no sense in risking damage so I took it to the dealer. Ferrari NA paid for the 3.5 hour 188 mile trip to the dealer even though the flat was not the car's fault. IMVHO you just can't afford to take the risk of not having service done by an expert that knows how to get the car on and off the lift as well as not voiding your warranty. Hope this helps.
Good advise here. Not had my 458 Italia too long but had my M3 serviced with new set of Mich's at the Discount Tires shop near my area. Should have been there to watch them torque the lugs back on the tires... One week later, the left rear was missing a lug. I will NEVER go back to a non qualified center again. Yea, maybe it could happen at the dealer, but in regards to a Ferrari, there are way too many things above and beyond that need careful attention. Why risk it even though my official dealer is an hour and a half away. I see the hired workers at these Discount Tire type centers and I'm sorry my 458 will never be there. I have also seen the hired Ferrari mechanics at the "bat cave" under the Wynn Hotel and was amazed at the whole staff there. Most have been working on Ferrari's for over 10 years, one I met had been for 27 years! You get what you pay for and that place is an amazing array of Ferrari experts my 458 will visit over and over again when needed.
Financing 130-140K would run you about 2000/mo for 8 years if you go through Ferrari Financial. At least that's what I would figure. A lot of other banks don't want to mess with them because it so much money for a car. Most have limits on what they will finance on the vehicle alone. Then you have to figure in registration and insurance, which could run another 600 to 1000 a month depending on where you live and what Maintenance costs are the least of your problems. The car is actually pretty cheap to own and drive (aside that it's a gas hog). It's the other stuff that's the killer.
I agree. Don't forget sales tax- if you pay cash it will be a solid number. Expect to pay ~$3.5k a year on maintenance & consumables (tires etc). Its not just wear that makes you buy new tires, road hazards like potholes can claim tires, and wheels too. A new wheel is probably $1.5k. My $0.02 on financing vs cash: for a toy you really should pay cash, but there are always exceptions.
Most of your cost will be depreciation (figured in the payments if you lease). My books are taking a 10% per year depreciation plus a 12% wholesale-retail spread. This dwarfs your maintenance costs.
This is an expensive piece of metal. This is a total indulgence that has an irrational foundation. There are faster, less costly cars out there. But, this is the top of the mountain for sports cars. If you are a true car enthusiast, you will not regret your purchase. I have never smiled wider in a car than I have in ferraris. If you purchase the car, the only money you are out is (maybe) sales tax and the depreciation for the time you have it. Which is money, but it's not like you "spend" 250k on the car and there is no value left. If you put 100k down, it's not like you can't get out of it if you had to. As far as yearly fees, there's not much. Insurance, registration, and not much else. Before 2012 models, you have to pay for servicing. So $1200 a year there. No problem. There is cost. There is risk. But there is reward. A big reward. And that's why I will own a ferrari the rest of my life.
The OP asked about maintenance. Of course depreciation is the major cost of any car unless you have a fully depreciated car with lots of maintenance. Reasonable to expect a 458 to be worth half of new MSRP in 5 years.
When looking at financing your credit plays a major role in what the cost will be. I just financed a portion of the cost of my 458 and was able to get 3% with BofA.
A great car. I also loved my F430. I think I would rather pay cash for a great F430 than make payments on a 458. My 458 is more fun but not that much more fun. The running costs are close to the same. If I had any brains I would still have mine.
Actually the OP asked the more general question about affordability: "Hello. I'm just wondering if I could afford to own a 458. So how much does maintenance cost you?" So the answer is that maintenance costs are not appreciable relative to depreciation. Some may have expectations that depreciation will be low on these cars. That is generally not true.
It will probably be worth more than half but not much more. A low mile good color F430 brings 65 to 70 percent of new at 5 years.
There are numerous threads on this quasi-philosophic topic. I see it as 3 components: 1) what does it cost? 2) can you afford it? and 3) is it worth it? (1) is the only objective one, though it can vary depending on your situation... -Cost of the car itself (new, used). Let's say in the US, used cars at $225K, new ones around $270K. ($45K variance) -Taxes on the purchase (sales tax, tax on monthly lease payments, et al). Depending on if you plan to sell it at some point, figure sales tax on your sale, too....so a new purchase would have say $20K in taxes in CT (less in Texas, more in NY) -Financing cost (I would include depreciation as part of this, which is a gray zone). Depending on what you do, let's just say $75K over the term. -Property taxes (CT property tax on cars can be a lot, circa $6K on a $300K car) -Non-covered maintenance costs (eg. tires, brake pads). Tires are $4K a set, pads $2K.... -Insurance (direct costs, and deductibles, and reserve for below-threshold door dings, chips). You can lowball, but let's say $3500 a year. -Care and feeding (eg. I suddenly found myself buying more expensive microfibers) $1500/year. -Longer term reserves - eg. out-of-warranty, do I pay for extended? am I ready to pay for a new gearbox? (2) - can you afford it? totally up to you. plenty of threads and debates here on Fchat, there is no right answer (3) is it worth it. again, totally up to you. The logical part of my brain says all of my car addictions are stupid. However, that part of the brain turns off when faced with my cars. What I do know is they are "optional" - worst case, I could dump them tomorrow and walk away - a bit poorer perhaps, very sad, but I would live.
I have to agree. Can't think of another car I would want more. ( Please note Porsche Carrera GT with a v10 does not measure up performance wise and costs alot more. And looks are in the eye of the beholder but it does not have the looks and luxury of the 458 IMVHO. ) The 458 Spider is perfect.
Thanks for your replies. It appears that I can own it. Now I have to think whether I really want to live with a 458 as a daily driver, in NYC. Owning two vehicles isn't an option as I live in an apartment and park on the street.
Add a monthly indoor parking space to your cost. If you park a 458 on the street in NYC, the cost of body work to repair damage caused by other drivers who park by feel will be greater than the cost of a monthly parking space.
The 458 is okay concerning reliability and cost for a daily driver. But The car is made of aluminum and is very expensive to fix. I had a 6 inch slight scratch on my 458 and it was $7k to fix. I am not sure that is a car to drive into NYC and park. If you have a secure parking garage at your aptment and at your employment maybe Good luck whatever you do Best Lee
For most people a 458 as a DD in NYC is not a practical consideration. It might be for you though. I would really not recommend it unless you had a second vehicle for foul weather days and also for handling bad roads and also had the parking situation covered. Yes you can lease it but if you take it as a business deduction you better be prepared to back it up in the event you get audited. I can't imagine an auditor taking a charitable view of someone trying to write off the cost of an exotic car. Then you would be going up against someone with more resources than most people. I would file this under: not worth it. But to each their own.
There are threads in the 430/360 forum on total cost of ownership. Search and learn...quick summary is: - Sales tax (likely paid upon delivery, or over time if leased) - Lease payment or interest on loan or oppty cost if paid in cash - Depreciation (by far the largest most likely) - Tires - Insurance - Scheduled Maint ($0 if buying a 2012 or later for the first seven years) - Upkeep (detailing, etc) All of these are not absolutes and depend upon what car you buy, what your interest rates are, how long you hold the car, how much you drive the car, and what your location/driving record is like...so, there is no "standard" or "one size fits all". Frankly the only one where that would be the case is the maint (and even then the per year answer depends upon how much you drive to an extent and is n/a for the first seven years now anyways). So...to the OP. Do the math for your circumstances...the only consistent theme here is "expensive". These are the pinnacle (or near pinnacle) of the automobile world...so pricey!
BTW, parking a 458 a full-time basis in the crowded streets of a mega large city is bravery beyond my level! I would say one has to have "I don't give a damn" type money (at least with regard to the $280k price of a 458)...
