My calculations for actual ownership cost of a $130k F430

I've had an 05 since new, now has 19K miles. Here's a couple of points.

I doubt depreciation will be 50K over the next five years. Prices have been very stable at the bottom end of 430s the last two years after a big hit in 2008. 458s are so much more expensive, it will be a long time, if ever, that they have a significant effect on 430 prices.

Steel brake pads cost about 1K/set installed at my dealer. Rotors add about 2K more or so. Unlike most cars, the brakes wear evenly front to rear. If you track your car, this will be a significant expense. If it is a street only car, then brakes should last a very long time unless you are tough on them. I've put maybe 1000 track miles on mine, so three sets of pads and one set of rotors Porsche Cayman aren't any cheaper.

If you track the car, tires will not last 12K miles. Even if you don't the Pirellis will be worn out in less than 10K. Michelins last longer. I don't know about Bridgestones.

I don't know about clutches. I have a 3 pedal car, so wear can't be read out like on paddle cars. It shows no sign of wear or other problems, but I'm easy on clutches generally. I expect mine will go well past 30K. I guess techs might be able to tell you what the average life is in a paddle car, but even then, it will vary greatly from driver to driver.

Dave

 

Entertaining post, but that's all it is . Insurance at $750 annually? Yeah, right. And an '06 Spider with 8K miles for $130K? Good luck. Just bought one for $140K with every option, but market is $150K. And resale? You'll never know until the time comes. So assume $50K. If it's more, great. If not, you already planned for the worst. Good luck.

 

Thought I read spider; sorry man. And I'm married, 49, and perfect driving record, so my problem is TX . And as far as resale, I always assume $0, so $50K was generous < he he>. I only consider purchase price and approximate yearly maintenance, doing everything myself. Resale only becomes a factor when it's time to trade. And $50K in 5 years is 'ridiculous'? Think again. Wreck the thing just below total value (fixed), and then blow your motor and tell me if it's going to be worth more than that .

It's like trying to come up with how much money you need for retirement by calculating how much to save, minus how much you'll have when you die. You only calculate how much to save, right? That was my point. Ha ha. That's why I said 'entertaining'. You never know what's going to happen to you or the car (that is not covered). Take care.

 

Who Cares...Really...Not to be rude but if you get all wound up about how much it costs per mile to drive your beutiful Ferrari on a given day whats the point.

I say buy one only if it has zero impact on your lifestyle or life plans...Then take her out and see what she can do at full song!

Pulling that paddle at 8,000 RPM - Priceless

Calculating your cost of the 3.9 mile drive to your Moms house - Boring

 

Wow after reading this I am going to sell all my cars! I don't understand the (opputunity cost)?, but since you are trying to figure out every expense you might as well add about 45k more as you would have to earn about 175k before taxes to net 130k, so you might as well add that in also. In reality though I think you could put these numbers on any 130k auto purchase not just a Ferrari. If you buy a new anything around 100k and drive it normally for 5 years your cost to own, depreciation, gas, taxes, maint, etc is going to be 60 to 80k itself when you break that down and thats close to your Ferrari numbers and that is on only a 100k auto. If you broke down every depreciating asset you purchase like this, which is most everything that includes fun and entertainment you wouldn't buy anything if your return on the dollar was the determining factor of the purchase. If you want to play you have to pay!

 

Interesting post.

I see the purchase as a sunk cost, so the depreciation doesn't really matter to me. In your example, if I can sell the car for $80K in 5 years, I have $80K in my pocket. I really don't see it as having spent $84,350. I stopped doing that type of [after]math a long time ago. LOL

$34,350 over 5 years comes out to $572.50/mo ($6870/yr) that someone needs to set a side for ongoing ownership. Round those numbers up and those are good figures to pass on to someone who can just afford to purchase a used 430.

Perhaps the advice to give someone who is on a budget, is to have cost of acquisition + $20K when buying the car and just keep adding $600 to the pot every month. This should cover cost of ongoing ownership and hopefully any unexpected or early repair costs. Then the person can enjoy the ride without having worry so much about the math.

 

I agree, interesting post.

I don't believe in factoring the opportunity cost into the equation.. I've always thought that if you have to factor that in.. you shouldn't be doing the equation... ;-)

It seems with any car you have some upfront costs to take care of what the prior owners neglected.. after that I think these cars are generally as reliable as a 996. That being said, as I work through my 360.. I'm less than 6 months in and about $7 per mile. I expect that will drop as I bring things up to standard.

Nice analysis!

 

I have no idea why this stuff always get's me so annoyed, any why I comment on it.. ok Mike, do you own a ferrari yet? do you have this experience with the clutch?

I am going to straighten some crap out

here are some contacts and what they charge for my cars (full cutch)

Ferrari/Maserati Beverly Hills Service
maserati 2800-3400 clutch
ferrari 3200-4000 clutch

F&M Motorsports LA
maserati 2200-3200 clutch
ferrari 2500-3500 clutch

Tilson Automotive
maserati 2200-3000 clutch
ferrari 2800-3500 clutch

Unique Motors Philadelphia
maserati 2200-3000 clutch
ferrari 2800-3500 clutch

Ferrari/Maserati Algar
maserati 2800-3400 clutch
ferrari 3200-4000 clutch


google and call them and ask, I have taken my cars to all the service locations listed here.. never ever did I get a quote at 6500.. always almost half of that, yet I see it posted (by people who don't have experince likely w these cars) that it's a fortune to replace the clutch?? it's like a never ending stream of crap

using Auto mode in a F1 tranny does not really affect clutch life

clutches should not wear every 15k miles if you know how to move the car from a stop, after the car is moving the clutch wear is very minimal. Mind you all you have to do is accelerate evenly until you feel the grab then drive as normal.

here is how I drive my cars, I drive in auto mode, manual mode, up hills.. I had them in LA (total nightmare stop and go) and NY and the whole east coast.. I live in the city currently and constantly stop and go..

again I drive however I wish.. and I have 31k on the maserati (ok it is starting to slip more than usual in 1st but has never dropped out of gear) on it's first clutch and 17k on the ferrari with a very healthy clutch at 50% life.. and besides kind of knowing how to drive the F1 which any monkey can do I do nothing out of the ordinary w the cars

also the yearly service I do (and I include all fuids which you should only do every 2 years, but I do it yearly)

is like 1100 for ferrari 800 for maserati or so..

back to the clutch issue.. an F1 clutch is not more to replace than a stick.. unless you need to replace F1 issues, which should not be included in the clutch cost.. if you need a new f1 pump they recommend when you do the clutch, that should not be factored in since it's technically not the clutch system itself..

it's all the same parts, clutch pressure plate, flywheel etc. can they resurface or do you need a new one? or they BSing you and telling you you need a new one when you don't? etc.

regardless the parts alone for clutch and flywheel new aren't that bad.. and if they are charging as much as the parts in labor they are robbing you.

anyway..enough of my little rant

 

If you track the car, your tires will be worn out by the end of the weekend unless you are driving like a pace car - put on slicks and they will last a long time

 

Could be the clutch lasts longer w/stick vs. f1 and I've heard it is closer to the $3K range from good independants to change not $6-7K. I've heard some guys w/sticks getting over 40K miles on a clutch.

Regardless, interesting analysis/estimates.

It would be interesting to do the same sort of analysis on a 360 (much less depreciation as a $, slightly offset by belt serivce every 4 years or so that my mechanic recommends).

I'd also love to see the same analysis for a brand new AMG mercedes which must have some of the highest dollar depreciation in the first 4-5 years of any car outside of an exotic.

Finally for relevance I'd like the see the analysis on say a V8 e-class- these cars are nice but not really "special", and I know many non-car people that lease these cars for about $1k/month plus maint/gas/insurance etc you mention. After paying all that money to lease a car they own NOTHING at the end and may even have a liability for over mileage, dings etc.

Sorry, I'll keep my 11 year old daily driver 540 BMW and 10+ year old ferrari any day of the week over paying money for some non-memorable brand new BMW or Mercedes. AND I'll probably be out of pocket the same or less money but am fufilling my dreams and taking care of my car hobby all in one shot!

 

I have to agree with those above who said that opportunity cost really shouldn't come to bear here. When you are done with your 430, whatever you get for it will likely go to the next bigger and badder ride anyway. For me, the way I budget out my money, I've already set aside a portion of income for investments and I don't spend any time thinking about the opportunity cost of buying other "stuff", since I'm not buying that stuff with "investment dollars" in the first place. It's my way of not looking back and wondering 'what if' I suppose.

Granted this is more money than most of the other stuff I buy, but it's a dark road towards insanity to ponder how much you could have made if you didn't buy x and instead invested in y. Besides, you can't take it with you, so if you have enough to live comfortably and do your part to help others, then why not have fun with the rest?

Oh BTW, Allstate quoted me +815/yr for an 08 coupe and +870 for a spider out here in Raleigh. So the insurance numbers seem perfectly reasonable, as long as you're not in Cali .

 

I have also heard of F1 clutches lasting 40k+ miles.. I am willing to bet if I can put up with some minor occasional slippage in 1st gear I can take the maserati to 40k on the clutch without a change.. also those meters that gauge clutch life have proven to be not so accurate with the SD3 changing data from one test to the next immediately..

 

I may so much more but I use progressive and have 1-2 tickets I think in the past few years on my record.. I pay over 600/mo for my 2 cars.. totally sucks!

I think depreciation shouldn't bother you if you plan to keep your cars.. if your a next best thing obsessive dude you will be blowing through 100k depreciation every year.. if you're cool with that.. go for it!

 

Why don't some of the F430 owners who have had their car for five or so years chime in and tell us what the REAL COSTS are. All this speculation is just that, speculation. I've owned many exotics over the years. At one point I had a Ferrari 308 GTSiQV for thirteen years and sold it for exactly what I paid for it. If I add up all the maintenance over that time it cost me less than $350 per year. Granted it was a 308, but the prices were still Ferrari territory. My point is, the ownership costs are probably far less than stated in this thread so far.

Just my $.02

 

http://www.ferrarichat.com/forum/showthread.php?t=294543

 

They are.. I am not a 430 owner but I am a 360 owners and the cars maintenance is more than the 430 (due to belts) and I am telling you the quotes are high for the 360.. by at least 30-50%

 

Just noticed that you don't own. Buy a house before a $100K+ car. That is all the financial analysis needed.

 

I pay 645./year on my 05 coupe---State Farm

Lost opportunity costs are a real world expense. All the money you pour into a Ferrari, or any toy, means you will have that much less, not to mention earnings on it, when retirement time rolls around. I took this into account but decided the cost and expenses would not materially affect my lifestyle. The younger you are, the higher this expense ultimately becomes. For instance, if you have blown 100K on toys by age 30 instead of investing it with a return of inflation plus 2%, you will have 181,136 less at age 60 in constant dollars. If you borrowed to buy the toys, the equation is even worse.

Dave

 

there were days where that was true.. no longer..

have you compiled the cost between renting in the city and a condo? the condo market in most cities is a total mess..

I own a home that I rent out currently.. but I live in an apartment.. I will not buy a condo until the situation makes it reasonable.. and I will only buy a house when I settle down.. there is no middle ground right now where it makes sense to own a condo in certain cities..

there are reasons people may rent instead of own throughout their lives..

now I think it makes more sense to advise "don't buy an expensive car until you can afford a house and the car" which is more appropriate because it defines the funds which is the real issue..