What is a high mileage Ferrari?

there is no single magic # and the market determines the value. i imagine different ferraris would have different sweet spots in the mileage. not sure how you want this question answered. i don't think it's as simple as x# of miles per year.

 

An owner who puts on @5K miles a year is truly enjoying the heck out of his car and is defiantly unconcerned about depreciation. Providing he also maintains the heck out of the car, this vehicle would be a bargain to buy and enjoyed second hand.

 

My 308 has 87K, so I'm just chiming in - the number I have heard that people get paranoid about is 30K - every one seems to want an F-car under 30 K. (Sorry . nothing to back it up)

 

An Fcar with 5000 miles/year is unheard of. Most would look at it the same as a women with 5 new lovers every year. Neither sounds bad initially, but do the math.

A 1980's ferrari with 100,000 miles is pretty rare, and probably worth 10% of its new price. A 40 year old woman who has been doing her thing for 20 years, is worth about the same after 100 different lovers.

Someone may want either, buts its not your first choice, and you won't pay much for either. Maintained or not...

 

Dear Ferraristi,

MY 91 TR has 36000 miles on it now. I bought it with 18K but decided to say "hell with it" and drive the car.

The woman analagy is not a good one. If a woman has more loves, she's worth less? Hmmmm, if it was a guy, we would be calling him a stud and a bragger.


Shamile

Freeze...Miami Vice !

 

Any car with more miles than mine.

 

Shouldn't be. But people will pay more for less miles.

But do you own a Ferrari because you like to buy and sell them?
Or do you own a Ferrari because you like to drive them?

WARNING: Totally made up numbers follow. The round numbers aren't by accident.
Let's say you sell your Ferrari after 5 years...
in both cases, basic maintenance and insurance was $3000/yr, or $15,000
(case 1) 5,000 miles of fun, $10,000 of depreciation, $5.00/mile
(case 2) 25,000 miles of fun, $25,000 of depreciation, $10,000 in extra maintenance, $2.00/mile

Who had more fun?
Who had the better deal?


If you're buying, go for the higher mileage car... it'll likely perform better and it'll be way cheaper... you'll get less at resale, but that's okay since you paid less... it'll depreciate less when you drive it, and a Ferrari is meant to be driven!

 

On newer stuff I think 2K per year is reasonable. Much more than that and you'll have people opting for the lower mile cars when it comes time to sell.

 

Best to think in terms of miles per year. Most cars will likely get 3-5k the first year of ownership and dramatically less in subsequent years with the same owner.

But when driven under 500 miles per year there is a great danger of metal/metal parts, seals and rubber not getting exercise, heat and lubricant, even stress, to keep them in top condition. In addition, all cars will have parts failure and a low-mileage car is unlikely to have enough attention by the to have them observed & replaced. The new owner of a low-mileage car is likely to have a multitude of expensive maintenance awaiting him.

Most owners I've talked with would prefer a 20 year old car with 40k miles to one with 10k miles. IMHO 2k/yr is an ideal target number.

When you hear of someone looking for a low miles car it's usually an unsophisticate looking for bragging rights, not a motoring experience.

 

I often hear references to these cars with high miles that are only worth the value of their parts but don't really see them for sale. Obviously if the owner is having such a fun time driving them they are probably not looking to sell. I would love to hear some examples of cars that were sold that had high mileage and also if there are dealerships that are more likely to deal in these types of cars. Especially any examples of sub 100k 360s that are not damaged just well driven. Any input is welcomed.....well almost any.

 

This qustion has a lot of answers; I'll list the ones I can think of.

Obviously, for a classic the point is moot. Who cares what a 288 GTO etc. has on the clock? Condition and originality are the keys.

For an old driver like a 308 etc. there are two considerations. A car with 20k miles and never driven will have a lot of maintainence issues but once they are done you have a low mileage car. Stuff isn't "worn out" and this makes a great driver once it's sorted. The sorting may take big bucks and a year however as stuff pops up, but you will eventually be "done".

An 80k mileage car with anal maintainence will run great, but things are really starting to wear. Trim pieces will break, bearings are worn all over, bushings are worn, etc. and even if it runs great, you'll have to be replacing stuff that's just plain worn out. This car is never "done" short of a frame off. It's great for a DIY guy because it will run great but need constant attention. My Lotus is like this (albeit with 54k miles).

On a newer model like a 355 or 360, every thousand miles is bucks off due to depreciation. 5k miles is low, 10k is not in some people's opinion. And 20k is an "old" car! If you bought it new, you see the dollars clicking off the odometer.

Then you can take the example of a 456. It was like $220k new and 10k mile cars can be had for well under $100k today. This model (to me) seems fully depriciated so you don't lose much by racking up additional miles. Can a 30-40k mile 456 be had for $50k in good shape? I doubt it.

Ken

 

i agree with Ken.
You should buy the lowest mileage car you can afford and then if you put 5-10000 miles on it, you still have a low mileage car for resale. IMHO, a low mileage car that is sorted with a good PPI, leakdown, compression is much better than a higher mileage car that even if sorted will begin to show natural wear and tear and require parts replacement. No car is made that well, that time and Mother nature will begin to breakdown. So, I would rather get a 15000 mile car, put 10000 miles on it as opposed to a 40,000 miles car and put 10000 miles on it. Its all a matter of opinion and it depends on the model.

The other thing, is with the older models, such as 308, 328, tr, the mileage is sometimes not to be believed.

 

I found that when I reached 155K miles in my TR and the chassis has rusted badly it was time to move on.

 

The Chicago Boxer512 had 110,000 kms and was still going strong...one engine rebuild, in that time....

You got good value, Mr. G...darn salt roads! Plus, you live near the ocean!

Doing donuts on the beach is hard on mine, as well!

 

I'd say anything over 200k miles, unless it has been completely restored.

 

i think the low mileage ferraris (generally, the 1970s+ cars) are the ones with less than 20K miles on them. they are in mid-mileage from 20-30K and above 30K are getting old. they're ancient by the time they hit 40K. sounds ridiculous to me, but anything above 40K seems like a tough sell.

john

 

I say that the "extra" value of a low mileage Ferrari must be a major temptation to disconnecting or winding back the odo. Ever wonder why there are so few even old Ferraris for sale with >20K miles?

IF you're going to pay a premium for low miles be careful about it. A good (or bad depening on how you look at it!) example of this is:

2005 612 20K miles - 189K
2005 612 1.5K miles - 249K

Both on FML right now.

I like Brian's analysis - just drive them and enjoy them.

 

Like almost eveything else in life, it depends on perspective...Sellers say its better to drive them while buyers say it's better to not drive them...I for one prefer a Ferrari that has been at least once a month or so throughout its life...

 

I had 11,500kms on mine 4 weeks ago. Now I have about 13,900kms.

In fact Im quite lucky that the car is not kept at my home and 5kms down the road. Otherwise I would jump in after lunch and look in the rear mirror just to see if I had something in my teeth. I will ignor that I have 5 mirrors in my home.

For money reasons I cant see how not driving a car would save you money.

If driver A bought a 360(15,000km) for 95,000euro. Drove the car for 2,000kms and sold if for 92,000euro.

Then drive B bought a 360(15,000km) for 95,000euro. Drove the car for 30,000km and sold it for 83,000euro.

Who really saved/wasted the most?

Driver A spent 1.5euro per km.
Driver B spent 0.4euro per km.

Personally I dont think its worth it.

Just drive the car!

 

I just bought my 2000 360 with 20k miles on it. I plan on DRIVING the car and don't care what it is worth when it is time to sell. If I "lose" 50k on it when I sell then that is the cost of ownership, plain and simple. It is not a investment but rather a tool to have fun in.

If you are buying your car to look at and not drive then great, I hope you do good on your investment.

 

Yeah, who cares? It's a CAR, and it was built and designed to be driven. Drive it, and enjoy it. You can't mount it on the wall!

I've got 61k miles on my 82 400i and I'm proud of it

 

How about an 05 430 Spider with 22,719 miles?

And it's just been sold by an Authorised Dealer here in the UK

Jun 2005/05 F430 Spider RX05 PPU

Grigio Silverstone with Nero
Sold 22,719 Miles South West England

 

I've put 2,800 miles on my '06 430 Spider in the first month. Seems to me if you're buying a Ferrari for status rather than the joy of driving it, your money would be better spent on therapy.

 

My 1995 355 spider in perfect condition, is worth absolutely nothing at all becourse of its great wooping mileage of.....46K miles What will i do, no one will want it LOL!!!
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