TCO for 2012 458 vs New 488?

Are you sure you may be able to get a 488 ?

 

700 miles a year?
You should not even bother thinking your thoughts.
Some guys feed the Ferrari "driver" cliche just too much.

Owners not drivers...

Love the existence of those +100.000 miles 911s so much more...

 

700 miles a year Just can't see why it's worth bothering changing cars or even having one in the first instance especially if you are worried about depreciation.

I don't pick mine up for a few months but I'm reckoning on around 10kmiles p.a I'm driving mine back from the factory so it will have done more miles in 2 weeks than yours in 3 years.

I can't see where the pleasure come from.

Are you better to buy a classic car that mY appreciate and still look good? Maybe a classic Mercedes or porsche?

Regards

Michael

 

700 miles a year? Do you have 5-6 other cars to use?

 

I am poor but I want to drive a super car but I am poor so I worry about depreciation

 

Hard to say. If you get a 488 soon you may be better off. However, if you're able to get a really good deal on a well specced 458 you probably will end up better off from a depreciation and total out of pocket standpoint. I believe there are too many variables to know for sure but I'd bet on a well equipped low priced 458.

 

Agreed. If you can get one quickly, and flip it soon with few miles on it, the 488 likely will lose you less than if you did the same thing with a 458, but any longer and it's a dice roll. After the "new, gotta have it" demand wears off the 488, it may be on a steeper part of its depreciation curve than a 458. But most likely both cars will be relatively trouble-free, so depreciation is the thing most likely to influence the TCO.

 

You know what they say about cost of ownership: If you have to ask.....

 

That's a tough one to call, Strider. First of all, the cost of making the trade will likely be about $40K if you trade your car for the other 458. This doesn't make a lot a financial sense to me, especially if the trade is being done because you prefer one red over the other.

If I were you, I might focus on what you have. Rosso Scuderia is such a nice red. It's also far less common than Rosso Corsa. I sure wouldn't spend that money to trade for paint color.

If you want a 488 then it's going to cost some significant money to do that trade. It will be some time before you get an allocation and a build. In the meantime, your beautiful 458 will be steadily depreciating. In the end, it's going to cost you about twice the trade in value of your 458 to acquire a 488. Be prepared to put up another $150K plus your car.

Here is what I would do. I would get in that red 458 and head west on a long road trip from your home in Florida, all the way to California. I would then head up the west coast and then across to Montana and all over the west. Drive the car and have a wonderful journey. Toss a sleeping bag in the trunk of the 458, so you can sometimes camp out under the starry night skies of the west.

Life passes quickly. You will always remember the road trip in your lovely 458... long after you have forgotten the difference between Rosso Scuderio and Rosso Corsa.

 

Also don't forget sales tax.

On the basis of the information provided I would stick with what you have. You know what is happening and what will happen with the 458. The 488 is a little less well known.

 

A salesman once lost a hefty commission when he responded to me in a similar fashion.

 

I always found the statement "if you have to ask, you can't afford it" ironic. The self made ultra high net worth people I know are actually quite price sensitive - often more so than the average.

 

Honestly I've had Rosso Corsa for 3 years, and if I ever go red again it will be Rosso Scuderia. My buddy has your red and mine looks boring next to his.

On the other hand I really like 488 not sure why people are so against it. I made the decision to buy one and I cannot wait to receive it! Everyone I know that has one loves it...

Good luck!

 

!

 

Indeed, a salesman should not say that .... but we here .... we can imo

 

+1

 

Don't listen to these guys!

700 is just fine.

690 is too little and 720 too much!

 

For me, the 488 GTB is the choice. I love the 458, but the 488 styling is so amazing to me. As for the financial consideration, neither really makes much sense (these cars rarely do). I'm assuming you have the means to choose either, so go with the car you like best. And, regarding how many miles, 700 is fine. 100 is also fine, as is 5,000. People have different ways to enjoy their cars. Some enjoy driving the wheels off of them. Other enjoy keeping them perfect and just taking them to them out rarely, or to shoes. However you derive pleasure from your car is your business. Let us know what you decide.

 

Well said

 

700 a year! Try driving your car before trading it in lol. But since you already experienced the 458, why not try the 488? And this time drive the car!!!

 

Best quote of 2016!

 

Total Cost of Ownership is easy to calculate -

Just set up your spreadsheet and do the math. Some values (eg. future trade value) I'd be conservatively low on, maintenance costs I'd range high. You can do the math, just include all the variables, from insurance to depreciation.

One factor you will have to self-calculate is "what's it worth to you, and why". I'm a libertarian so if you want to own the car and leave it parked, that's your choice - treat it like art or a token. Having said that, just be aware all of these cars are depreciating assets. In our case, we love driving the cars, so for us we have to manage the "overuse" side of the equation. We tend to brag about the mileage on our cars, whereas others like to brag about the resale value.

In the OP's case, from a distance:

Trading a like-for-like 458 simply for color is going to be a money losing proposition. Quantify how much Rosso Corsa is worth to you, and I hope it's $15-30K because by the time you're done, it could be that much unless you trade "down" for a lower value (i.e. lower spec, higher mileage, older) car in RC.

in terms of the trade, I agree with the sentiments above; 458's are now well along on their depreciation curve and it's proceeding on; 488's are great, but you'll probably lose on the way out of the 458 and have to pay up on the 488. A swap will cost you money. Again, totally up to you - how much is it worth to you?

If your current 458 is worth 220 now, if you trade to a dealer towards a 488, let's assume they offer you $200K. You can trade today and wait for your 488, or hang onto the 458 until the new car arrives. Let's say that's 9 months; even if you don't drive the car, let's assume that next September the trade value will go down to $190K. if the 488 has an MSRP of $340K plus tax, you're $150-170K due at pickup. with the 488 you'll have zero maintenance and repair cost for 3 years, but 458 maintenance and repair isn't severe.

Again, how badly do you want the 488?

These are Ferraris. You can try all you want to put some economic sense to justifying ownership, you certainly should consider the economics but the "logic" of TCO never foots out.

 

whats tco stand for?

 

total cost of ownership