why are Ferrari buyers so hung up on low mileage?

resale, not maintenance imo

 

^ yep. Very few Ferrari owners will keep their vehicles for decades.

Any one can buy a Ferrari, very few can maintain one.

 

Why buy such a fabulous, gorgeous automobile to sit in your garage. Drive it. Enjoy it. The later models … last 8-10 years have few problems and properly maintained, provide years of thrills. If you can afford to buy one, you can afford the depreciation


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+1

Car isn’t going to self destruct after 40k miles but resale takes a hit every 10 k
Miles for sure


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I get the impression that for most people a Ferrari is a weekend toy (unlike say a Porsche 911) and is often part of a larger collection of cars. So they don't get used much and people are wary of higher mileage ones. Plus, the history of them being less reliable before say year 2010 still weighs on people's minds I guess. My personal experience with recent Ferraris (Portofino, 812 SF, 812 GTS) has been great and they nowadays seem to be pretty robust except for (a) known issues related to design faults e.g. PTU failure, rear mesh on F12 etc and (b) shoddy OEM batteries and associated error messages

I would be interested to hear from owners of other supercar brands - are they also as mileage sensitive when it comes to resale value? If not, why do you think that is?

 

I think you partially answered your own question. You bought the power steering hose for $180, and replaced it yourself for $0 of labor. Now contrast that to the 99% of Ferrari owners who are going to take it to a mechanic/dealer. The hose is now $400 and the labor to do the job was another $1500-3000. Every relatively minor thing is going to cost significantly more than a ‘regular’ car.

I’m firmly in the camp that if you can afford the car, you can afford the depreciation and maintenance. I drive my 812 a lot, and I don’t care about the costs associated. It’s a toy, it’s not an investment to me. Many other owners have larger collections, and/or buy these cars to stay current with the brand to maintain or gain status for the special cars. So they only care to resell them 2-3 years down the road for minimal loss.

Overall, it’s a shame these cars aren’t driven more regularly by the vast majority of owners. They are wonderful to drive.

 

exactly

 

I swear, I love the low-mileage cars. They rot like a banana in the midday sun, and inevitably consume replacements parts at a never-ending pace. Drive a few hundred miles a year, and you're my new best friend.

(In other words, drive the damn thing. It'll cost way less in the long run.)

 

The mileage fascination seems to be a mostly US and U.K. phenomenon. F cars with more than 40k miles are quite common on the continent and I’ve seen a few with more than 100k miles. Value obviously suffers for higher miles but it doesn’t seem to be any worse than for other marques.

 

Amen on everything above but especially the part in bold.

 

Since about 2010 the Ferrari are reliable, still expensive to maintain but reliable. Nevertheless their low mileage vs other the current brands is not relative to any reliability issue imho.
Most of the Ferrari are owned on the top of other cars, "collection" cars and more daily cars thus they are the one(s) which only get(s) out the finest days.
As a consequence their second hand market overflows of low and very low mileage cars.
Why buying a high mileage one when 75% of the market is low mileaged? Suicid, so we all follow the trend...

 

Lots of great points already covered. The summary that I use for myself is, these are fundamentally emotionally driven and trying to rationalize is an after the fact exercise. There is no universal logical explanation and I focus on putting as many miles as I can on my cars (given that’s how I enjoy them currently).

 

So many buyers only buy an odometer reading. I can't tell you how many 5,000 mile cars I've seen listed that have the wear and tear of a 20,000 mile car. Buy on condition.

Miles and age should increase linearly, that is how time works. When buying an exotic I think it would be better to have a set yearly number of "acceptable" miles say 500 for very low mileage and 1,000 for low mileage. 500 annual miles means driving the car every other week 20 miles. 1,000 annual miles means driving the car once a week 20 miles. Both are enough to get everything warmed up and working while not going overboard.

These cars need to be driven carefully but hard. High RPM keeps it healthy. The same way the body needs to excercise and operate under strenuois conditions or it deteriorates.

A 1980's Ferrari with 10K miles will surely drive worse than one with 40K miles of regular use.

 

I had an SLS GT Convertible that did self destruct at just under 30K miles- blown transmission (56K covered under warranty) broken front and rear subframes due to NY streets( another 36K also covered under warranty). Used it as a DD but was well cared for and never beaten up by me. I got rid of that car ASAP before warranty expiration and got a 458 spider- a wonderful car but couldn’t bring myself to use it as a DD here in NY- I would have been arrested for car abuse
None of these cars are made for the tough environs of the NY streets and highways. Bumpy road button is pushed just after the start button but the stress and vibration of potholes, traffic and the like take their toll on these cars- most high mileage cars are rarely solely driven on lightly travelled recently repaved(not even sure what that is at least in NY) parkways a Ng d backroads.
I don’t think 20K+ miles would be a deal breaker if the right car came along but it would need to have been meticulously cared for with maintenance records to match.


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in my country because of the tax so car become very very expensive... 3 to 4 times compare with USA.
that is the reason people keep the old car and keep fixing it.
IMO, the old Ferrari like 430 or 599 the engine is reliable but due to traffic in here the clutch wear out very fast at 15k miles and people scare of it.. mostly is the 430 they has Ediff issue also... 430 don't last over 20k miles here without major service, but mostly is transmission, engine seem very reliable.. 599 is too rare so we don't know

new Ferrari like 458 italia they seem like very reliable.. alot of 50 80k miles in the road.. solid and bullet proof car
F12 only has 3 in here.. I have one and mine only reach 10k miles so we will see.. but the engine and transmission seem ok until now...
488 GTB : has a lot here, and they all have issue with the transmission in first model year, I don't know why, but they all need to replace the trans very soon but after install the update part they seem to be fine. No more issue... average mileage is about 50k miles
812 : has few and new so we don't know...
F8 : too new and only 3 in country..

the 2nd brand which exotic is Lamborghini
lot of Huracan here pass 100k miles and they seem rock solid.. much more better than other German car like BMW or MB even the regular basic car....

the 3rd brand popular here is Mclaren 720s,
people buy it because they look awesome and cheap, fun to drive.. but after 1-2 years none want to own them.. they all time **** in the garage with electrical or engine, transmission issue..then none buying the new model anymore because we all scare about quality of the car

The idea of buying exotic car in Asian maybe different than other, in here we buy car which can drive, less trouble.... and we buy it to drive it.. just not look at it

 

money

 

The flip side is that you are able to get an excellent car with 30k on the clock, for quite a discount over another car with less than 10k. So basically the same car for a fraction of the cost.
I do think the hit is ridiculous, but if you agree that more mileage isnt necessary a worse car, then you can end up ahead.

 

I bought a “high mileage” F355 with about 50k miles on it…spent $58k and putting about $15k in it…will be brand new…I plan to drive it forever at that basis and I wont care if it increases in value or not…because I don’t it will be worth much less under any scenario long term. I also just bought an FF….feel a little different with that because its a more complicated care to maintain, but my goal for now, is to put as many miles as I can and also keep it long term….Maybe we can start a thread tracking and celebrating high mileage F cars! Truth is those will be the ones that are maintained appropriately and can actually be driven and enjoyed.


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It also has to do with where you are. Here in Europe you see a lot more high mileage cars, and many are much less affraid of depreciation than they are in the US it would seem. It is changing, but I still get the sense sometimes, that Ferrari ownership in the US is more about status than it is in Europe and thus mileage matters more as it's more about owning a Ferrari than driving a Ferrari.

Personally I don't like low mileage cars that has half a decade or more on them. Cars don't like to sit.

Of course collector cars is a different story, but a regular 10 year old 458? Definitely rather have one that has been used but taken care of compared to a garage queen with dry seals and what not.

I suppose for some it also gives them a bigger sense of buying a "like new" car. Reality is though that mileage and wear aren't always comparable so to speak.

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For the most part I think it's just reflective that a lot of owners have more than one car. You can only put so many miles on a fleet! This keeps the cars generally with low mileage which means higher mileage cars take a hit.

I'm very convinced these modern cars are reliable for many miles to come and I plan to put lots on my 812. Having seen a 100k mile 458 that still looks and runs great it's clear to me mileage isn't a big deal.

 

Not in any particular order:

1. Resale
2. Not a lot of time to drive them (seems ironic)
3. They are special compared to most any other car
4. Want to keep it looking new
5. Pain to clean so the drive has to be worth it
6. Most are of the garage queen variety so by definition don't get driven much yet get admired like art

Everyone says its a shame to not drive your Ferrari yet all things equal jump at the lower mileage car.

 

EXACTLY. I drive about 4,000 miles per year. I just split it between 5 different cars.