The potentially ruinous relationship of running a Ferrari...
Discussion
MPG - £1 per minute. I like that metric 
As for servicing, I have to admit that I tend to do pretty much everything myself. Having bought a car with a full stamped service history myself, I've subsequently realised exactly how worthless that is.
Of course, some people will put store in it. Anyone who's bought and sold a few cars and/or worked on cars will however buy on condition and invoices for work carried out.
If you take it to ferrari for everything, you'll go bankrupt quickly. If you're prepared to get your hands dirty, they can be manageable.
As for servicing, I have to admit that I tend to do pretty much everything myself. Having bought a car with a full stamped service history myself, I've subsequently realised exactly how worthless that is.
Of course, some people will put store in it. Anyone who's bought and sold a few cars and/or worked on cars will however buy on condition and invoices for work carried out.
If you take it to ferrari for everything, you'll go bankrupt quickly. If you're prepared to get your hands dirty, they can be manageable.
I have found all the replies most interesting. I recognise that I could have probably serviced the car more cheaply by finding a good independent and I have no doubt they would also have offered excellent service. Nevertheless, whilst doing so would have reduced the costs somewhat, I feel it is likely that the overall costs would still have been significant, which I guess should not be a surprise for a car that cost the best part of £100K new, and is why I thought it useful to post them.
Notwithstanding the above, I have not regretted sticking with the supplying dealer in this case. As a long standing customer, the dealer (Maranello in Egham) have been very accommodating, and I value the service they have provided. When problems have arisen they have been fixed quickly and professionally. I have always attached real value to having a long-standing relationship, particularly given that I intend to keep the car for many years to come.
The above obviously relate to the personal experience of just one long-term owner and it is always interesting to read the experience of others. It is what PistonHeads and other sites are so great. However, one shouldn’t forget that that costs are just one side of the coin. In return for the financial outlay, the car has given me an immense amount of pleasure and continues to do so – be it winding it up down the main straight on the occasional track day or just pottering along with the windows down on a bright summer’s day. Incidentally, I thought 6mpg was bad on one particular track day, until another driver in-front of me at the pumps informed be he was doing 4mpg... I clearly wasn’t trying anything like hard enough. Fortunately, the memory of the costs fades long before the thrill of driving is forgotten.
For myself I continue to thoroughly enjoy the car, in all its guises, and I would not hesitate to recommend anyone considering taking the plunge of buying a 355, or similar, to go for it at some point in their life. They really are wonderful cars and I am genuinely fortunate to be able to own and enjoy one.
Happy driving
Boon
Notwithstanding the above, I have not regretted sticking with the supplying dealer in this case. As a long standing customer, the dealer (Maranello in Egham) have been very accommodating, and I value the service they have provided. When problems have arisen they have been fixed quickly and professionally. I have always attached real value to having a long-standing relationship, particularly given that I intend to keep the car for many years to come.
The above obviously relate to the personal experience of just one long-term owner and it is always interesting to read the experience of others. It is what PistonHeads and other sites are so great. However, one shouldn’t forget that that costs are just one side of the coin. In return for the financial outlay, the car has given me an immense amount of pleasure and continues to do so – be it winding it up down the main straight on the occasional track day or just pottering along with the windows down on a bright summer’s day. Incidentally, I thought 6mpg was bad on one particular track day, until another driver in-front of me at the pumps informed be he was doing 4mpg... I clearly wasn’t trying anything like hard enough. Fortunately, the memory of the costs fades long before the thrill of driving is forgotten.
For myself I continue to thoroughly enjoy the car, in all its guises, and I would not hesitate to recommend anyone considering taking the plunge of buying a 355, or similar, to go for it at some point in their life. They really are wonderful cars and I am genuinely fortunate to be able to own and enjoy one.
Happy driving
Boon
Boon1000 said:
I have found all the replies most interesting. I recognise that I could have probably serviced the car more cheaply by finding a good independent and I have no doubt they would also have offered excellent service. Nevertheless, whilst doing so would have reduced the costs somewhat, I feel it is likely that the overall costs would still have been significant, which I guess should not be a surprise for a car that cost the best part of £100K new, and is why I thought it useful to post them.
Notwithstanding the above, I have not regretted sticking with the supplying dealer in this case. As a long standing customer, the dealer (Maranello in Egham) have been very accommodating, and I value the service they have provided. When problems have arisen they have been fixed quickly and professionally. I have always attached real value to having a long-standing relationship, particularly given that I intend to keep the car for many years to come.
The above obviously relate to the personal experience of just one long-term owner and it is always interesting to read the experience of others. It is what PistonHeads and other sites are so great. However, one shouldn’t forget that that costs are just one side of the coin. In return for the financial outlay, the car has given me an immense amount of pleasure and continues to do so – be it winding it up down the main straight on the occasional track day or just pottering along with the windows down on a bright summer’s day. Incidentally, I thought 6mpg was bad on one particular track day, until another driver in-front of me at the pumps informed be he was doing 4mpg... I clearly wasn’t trying anything like hard enough. Fortunately, the memory of the costs fades long before the thrill of driving is forgotten.
For myself I continue to thoroughly enjoy the car, in all its guises, and I would not hesitate to recommend anyone considering taking the plunge of buying a 355, or similar, to go for it at some point in their life. They really are wonderful cars and I am genuinely fortunate to be able to own and enjoy one.
Happy driving
Boon
Good, well thought out post.Notwithstanding the above, I have not regretted sticking with the supplying dealer in this case. As a long standing customer, the dealer (Maranello in Egham) have been very accommodating, and I value the service they have provided. When problems have arisen they have been fixed quickly and professionally. I have always attached real value to having a long-standing relationship, particularly given that I intend to keep the car for many years to come.
The above obviously relate to the personal experience of just one long-term owner and it is always interesting to read the experience of others. It is what PistonHeads and other sites are so great. However, one shouldn’t forget that that costs are just one side of the coin. In return for the financial outlay, the car has given me an immense amount of pleasure and continues to do so – be it winding it up down the main straight on the occasional track day or just pottering along with the windows down on a bright summer’s day. Incidentally, I thought 6mpg was bad on one particular track day, until another driver in-front of me at the pumps informed be he was doing 4mpg... I clearly wasn’t trying anything like hard enough. Fortunately, the memory of the costs fades long before the thrill of driving is forgotten.
For myself I continue to thoroughly enjoy the car, in all its guises, and I would not hesitate to recommend anyone considering taking the plunge of buying a 355, or similar, to go for it at some point in their life. They really are wonderful cars and I am genuinely fortunate to be able to own and enjoy one.
Happy driving
Boon
TISPKJ said:
peter450 said:
I'd like to own a Ferrari some day, but i have to say those costs are pretty high, it's not the depreciation etc, but the servicing and general upkeep i need to get a lot richer or learn how to do all the servicing myself
Sadly doing the servicing yourself is not really an option as you still need the stamp in the service book come resale time.I am more than capable of servicing the car (and will do any big bits like clutch, discs, etc myself) but you still need a yearly stamp in the book sadly :-(
Our 911 cabrio has 188,000 miles total and 40,000 by me in the last 10 years. We haveloads of happy memories filed away and a great car under a sheet in the garage, where it been since september 2011.
No idea what's in our service book, could be nude photo set of Kate Middleton and I still wouldn't be looking for it.
Great post Boon.
ok1 said:
I don't understand why so much criticism regarding the OPs running costs. It iis what it is, that's his experience.
I have owned my 355 for over a decade and I have some pretty hart stopping invoices. Though my cars mileage is 4x of that of the OPs.
Thanks to the OP for posting this up.
Thanks to the OP for posting a totally honest list of costs. My hunch is many people are in denial* re. what they actualy spend on their pride and joys...and many simply don't maintain them properly. Most 3+ year old performance cars I've bought have appeared perfect and had 'good' service history's. But when I take them in for a checkover there is a list of things that 'need' doing. My 96 Bentley Turbo R is a case in point - it 'needed' a long list of things which didn't have to be done right now but they were on the way out..the PO had taken a view not to do them. I always find it difficult to net get these things done staight away as I always like mechanical things to be 100% perfect whilst I own them.I have owned my 355 for over a decade and I have some pretty hart stopping invoices. Though my cars mileage is 4x of that of the OPs.
Thanks to the OP for posting this up.
(*In my experience the denial starts when 'er indoors asks about the running costs!)
rs48635 said:
TISPKJ said:
peter450 said:
I'd like to own a Ferrari some day, but i have to say those costs are pretty high, it's not the depreciation etc, but the servicing and general upkeep i need to get a lot richer or learn how to do all the servicing myself
Sadly doing the servicing yourself is not really an option as you still need the stamp in the service book come resale time.I am more than capable of servicing the car (and will do any big bits like clutch, discs, etc myself) but you still need a yearly stamp in the book sadly :-(
Our 911 cabrio has 188,000 miles total and 40,000 by me in the last 10 years. We haveloads of happy memories filed away and a great car under a sheet in the garage, where it been since september 2011.
No idea what's in our service book, could be nude photo set of Kate Middleton and I still wouldn't be looking for it.
Great post Boon.
No disrespect intended but your 996 cab with those miles would struggle to make 10k, poor or no history would value it at 7k maybe so lets say a difference of 3k, the same on a 355 would probably cost you nearer to 10k or more, 10k when your a desperate seller is a lot of money.
I have just bought the wife a 968, I will have the belts and a service done by an independant then more than likely service myself until the belts need doing again in 4 years. If I threw the service book and docs in the bin now I recon it would cost me approx 1k ish, same trick with the 355 would probably cost me circa 7k ?
Equally the old man has had several new SLK's Cayennes etc etc and I doubt any have been serviced by the book, SLK's have done about 7000 miles cayenne 40k after 8 plus years it does not really matter as he is in a position whereby he wont have to sell and cayenne will struggle to make 10k anyway even with history :-)
Good work OP on being so honest, I'm sure that will be helpful to others. I've also got to congratulate you on doing the maths in the first place - i simply couldn't face doing it on any of the performance cars I've owned in the past. It took me years to stop looking at the average MPG trip in various cars, as it would spook me (especially in my V8 Range Rover) and I realised it was ruining the pleasure of the thing.
Obviously this is a personal case - so for me I pay the bills from main dealers when they ask, try not to pay attention at the pumps when filling up and assume I can no longer afford to own a thing when a bill comes through from it that knocks me financially for six.
Till that day comes!
Obviously this is a personal case - so for me I pay the bills from main dealers when they ask, try not to pay attention at the pumps when filling up and assume I can no longer afford to own a thing when a bill comes through from it that knocks me financially for six.
Till that day comes!
I have read all these posts with interest ..
My only comment would be that if you feel you need to watch the running costs - and the figures presented here are of concern, or that measuring the cost of each mile during your ownership of the car is important and might sway any decision to retain car or not - then perhaps these types of cars are not for you ... IMHO obviously ..
Personally - and certainly as far as my wife is concerned, I have no idea how much I have spent buying and maintaining my cars over recent years. I have always bought with the heart as much as the wallet has allowed because I want to experience and enjoy the cars. Never once have I stopped to find out how much it will cost me to keep, maintain, insure or even fill to the brim with fuel - it is what it is if I want the pleasure of ownership.
The 355 in question here sounds like it has been loved and cared for all its life, and the current owner is fortunate enough to have been the only owner. Driven as and when the mood has taken - sir I tip my hat to you and congratulate you on a job well done...
I also feel that taking the plunge and adding up all the bills over the ownership was a brave thing to do ...
My only comment would be that if you feel you need to watch the running costs - and the figures presented here are of concern, or that measuring the cost of each mile during your ownership of the car is important and might sway any decision to retain car or not - then perhaps these types of cars are not for you ... IMHO obviously ..
Personally - and certainly as far as my wife is concerned, I have no idea how much I have spent buying and maintaining my cars over recent years. I have always bought with the heart as much as the wallet has allowed because I want to experience and enjoy the cars. Never once have I stopped to find out how much it will cost me to keep, maintain, insure or even fill to the brim with fuel - it is what it is if I want the pleasure of ownership.
The 355 in question here sounds like it has been loved and cared for all its life, and the current owner is fortunate enough to have been the only owner. Driven as and when the mood has taken - sir I tip my hat to you and congratulate you on a job well done...
I also feel that taking the plunge and adding up all the bills over the ownership was a brave thing to do ...
NeilH said:
I have read all these posts with interest ..
My only comment would be that if you feel you need to watch the running costs - and the figures presented here are of concern, or that measuring the cost of each mile during your ownership of the car is important and might sway any decision to retain car or not - then perhaps these types of cars are not for you ... IMHO obviously ..
I'd have to disagree with that (also IMHO!). IME of meeting them, the vast majority of people who own these cars, especially the older ones, are not vastly rich...in fact far from it. They may have chosen to spend £40k on a Ferrari rather than on a new Boxster but realise the running costs may be 5x higher and so make the sacrifice to pay for this by not doing other fun stuff that costs money - I personally know that is my situation and have met other owners who are similar. It doesn't mean I can't afford the car comfortably, but it does mean I have to keep an eye on it's costs like I would do with any other significant/expensive thing I own. In fact I would say that to do otherwise would be frankly irresponsible of me.My only comment would be that if you feel you need to watch the running costs - and the figures presented here are of concern, or that measuring the cost of each mile during your ownership of the car is important and might sway any decision to retain car or not - then perhaps these types of cars are not for you ... IMHO obviously ..
It's only the aforementioned very wealthy people to whom say the entire cost of the car would not affect their financial situation that can afford to literally not pay any attention IMO. For the rest of us lowly people, just sticking our heads in the sand and ignoring them seems slightly naive. I'm not saying everyone has to be as anal as me (
), but being able to estimate to say within 30% of what the cost of ownership is seems like a very good ideaExactly.
I'd say that Ferrari's fall into 3 categories.
1. Current models - you need to be wealthy to own and run them as everything is main dealer, although admittedly nothing should be needed other than fuel and servicing
2. Genuine classics (eg, 246 dino and before) - you need to be seriously wealthy to own/run/restore these.
3. The stuff in between which is neither current or yet classic - they're no more expensive to buy than a well-specced hot hatch, so fall into the reach of average punters like me, but they cost potentially more to run. I can't afford to run things through Ferrari all the time, but I can afford to keep it on the road and in good order by doing a lot of work myself. I don't monitor pence per mile, but I'm very aware of any outlay that I make on the car and keep a fairly tight track of it.
So, I agree that if you need to watch every penny then perhaps its not a car for you, but equally I spend a lot of time figuring out how I can achieve the same (or often better) end result for less...
I'd say that Ferrari's fall into 3 categories.
1. Current models - you need to be wealthy to own and run them as everything is main dealer, although admittedly nothing should be needed other than fuel and servicing
2. Genuine classics (eg, 246 dino and before) - you need to be seriously wealthy to own/run/restore these.
3. The stuff in between which is neither current or yet classic - they're no more expensive to buy than a well-specced hot hatch, so fall into the reach of average punters like me, but they cost potentially more to run. I can't afford to run things through Ferrari all the time, but I can afford to keep it on the road and in good order by doing a lot of work myself. I don't monitor pence per mile, but I'm very aware of any outlay that I make on the car and keep a fairly tight track of it.
So, I agree that if you need to watch every penny then perhaps its not a car for you, but equally I spend a lot of time figuring out how I can achieve the same (or often better) end result for less...
Really interesting reading this, we could do with more of these 'real world running costs' posts!
For me it confirms 2 things I really already knew:-
1. My old 997 C2S was a real bargain and much more affordable despite being in similar purchase price brackets
2. I can't afford to get a 355 anytime soon!!
http://www.pistonheads.com/gassing/topic.asp?h=0&a...
Cheers
RS
For me it confirms 2 things I really already knew:-
1. My old 997 C2S was a real bargain and much more affordable despite being in similar purchase price brackets
2. I can't afford to get a 355 anytime soon!!
http://www.pistonheads.com/gassing/topic.asp?h=0&a...
Cheers
RS
an interesting thread. i do think it's useful for honest descriptions of running costs on these cars. could form a useful real life heads up on the reality of running what are expensive/aging high end cars.my ones costing me a fortune! different league from my 348.
for example, my recent cambelt service came in at £5k. i have no beef with the figure, as it just meant getting stuff done which it was going to need sooner or later + discs and two tyres.
this comes on the back of a real messy episode at last year's service. ended up the thick end of £7k after a clutch change.
they are not cheap to keep if you use them.
ps. i love the car and the only thing i'd change on mine would be the flappy paddles, aging F1's are not wallet freindly.
for example, my recent cambelt service came in at £5k. i have no beef with the figure, as it just meant getting stuff done which it was going to need sooner or later + discs and two tyres.
this comes on the back of a real messy episode at last year's service. ended up the thick end of £7k after a clutch change.
they are not cheap to keep if you use them.
ps. i love the car and the only thing i'd change on mine would be the flappy paddles, aging F1's are not wallet freindly.
here's the breakdown of my recent cambelt service.
service. £1250. vat £250
labour for removing brake calipers. £160 vat £32
front brake discs. £314. vat £62
rear discs £331. vat £66
replace brakes. £120 vat £24
355 brake line. £96 vat £19
radiator x 1 (the other one gave up the ghost on the morning of a trip to france so figured best get the other one done whilst engine out)£120 labour. vat £24
radiator rebuild. £285. vat £57
cam covers removed for painting. labour £120. vat £24
repaint. £196. vat £39
355 ht lead set. £295. vat £59
spark plugs. £84. vat £16
investigate misfire. labour £80. vat £16
mot. £50
2 x pirelli p-zero. £456. vat £91.
road test free
total £4979.
obviously i didnt need the cam covers done. the rad was preventative. but the rest is really made up with routine matters and consumables so i've got no problem with what it costs. it is what it is. and the car feels great and is worth every penny.
as stated previously, i just think it's instructive for those about to jump in to a 355.may aid them to go in with eye's open. this bill wasnt even the result of anything complex going wrong.
the HT leads are a bit eye watering price wise but the rest seems ok to me.
i suppose i have simply had two consecutive expensive years, what with the clutch being done during last year's service.
looking forward to a straight-forward £400-500 service next year but i am not holding my breath.
btw i am doing approx 6k miles per annum. last summer did include an alpine hoon and a bit of a run around italy.
just saying!
service. £1250. vat £250
labour for removing brake calipers. £160 vat £32
front brake discs. £314. vat £62
rear discs £331. vat £66
replace brakes. £120 vat £24
355 brake line. £96 vat £19
radiator x 1 (the other one gave up the ghost on the morning of a trip to france so figured best get the other one done whilst engine out)£120 labour. vat £24
radiator rebuild. £285. vat £57
cam covers removed for painting. labour £120. vat £24
repaint. £196. vat £39
355 ht lead set. £295. vat £59
spark plugs. £84. vat £16
investigate misfire. labour £80. vat £16
mot. £50
2 x pirelli p-zero. £456. vat £91.
road test free
total £4979.
obviously i didnt need the cam covers done. the rad was preventative. but the rest is really made up with routine matters and consumables so i've got no problem with what it costs. it is what it is. and the car feels great and is worth every penny.
as stated previously, i just think it's instructive for those about to jump in to a 355.may aid them to go in with eye's open. this bill wasnt even the result of anything complex going wrong.
the HT leads are a bit eye watering price wise but the rest seems ok to me.
i suppose i have simply had two consecutive expensive years, what with the clutch being done during last year's service.
looking forward to a straight-forward £400-500 service next year but i am not holding my breath.
btw i am doing approx 6k miles per annum. last summer did include an alpine hoon and a bit of a run around italy.
just saying!
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