550 Maranello - running costs
Discussion
Evening all,
I'm trying to get an idea from owners (or anyone with actual knowledge) of all-in running costs on these beasts. Assume a warranty to cover things like the engine, and roughly 10,000 miles per year, no track days.
Insurance - I pay £1k on a 911 at the moment, any idea how much more for the Ferrari?
Servicing - how much, using a decent specialist?
Depreciation - I'd be looking at a 1999-2000 model, looking to keep for a couple of years at least. Also, any idea how much room there is to haggle with this sort of car (both private & dealer)?
Cost of consumables (tyres, pads etc), and bits which aren't covered by a warranty.
Fuel - what mpg do they average, when driven "enthusiastically"?
Any ownership experiences which can give an estimate of annual costs would be much appreciated!
I'm trying to get an idea from owners (or anyone with actual knowledge) of all-in running costs on these beasts. Assume a warranty to cover things like the engine, and roughly 10,000 miles per year, no track days.
Insurance - I pay £1k on a 911 at the moment, any idea how much more for the Ferrari?
Servicing - how much, using a decent specialist?
Depreciation - I'd be looking at a 1999-2000 model, looking to keep for a couple of years at least. Also, any idea how much room there is to haggle with this sort of car (both private & dealer)?
Cost of consumables (tyres, pads etc), and bits which aren't covered by a warranty.
Fuel - what mpg do they average, when driven "enthusiastically"?
Any ownership experiences which can give an estimate of annual costs would be much appreciated!
Insurance: use the online insurance calculators at elephant.co.uk, tesco.co.uk etc etc
Servicing: Verdis, Maranellos etc use set price servicing, go to their websites (google if necessary) and check it out.
Fuel: 12mpg roughly so work it out
Extra bills: depends if you like doughnutting your cars around Tesco carparks at weekends or not... totally down to user.
Do a search of the archives for more info
Servicing: Verdis, Maranellos etc use set price servicing, go to their websites (google if necessary) and check it out.
Fuel: 12mpg roughly so work it out
Extra bills: depends if you like doughnutting your cars around Tesco carparks at weekends or not... totally down to user.
Do a search of the archives for more info
monsieur_x,
I am in my second year of ownership of a '99 car. Total running cost for first year was approx 3k which is pretty much what I always recommend for any modern Ferrari. This included a service (1k), new clutch (1.2k) plus a few other bits & bobs, mainly age related but a couple self induced. I use Verdi's who I recommend highly.
Insurance - I pay 1.8k. 550's seem to be about double the cost of 355's and none of the "quote me happy" type companies will even insure one. Forget trying online also.
MPG - Haven't got a clue - would make me cry if I attempted to calculate.
Depreciation - They are still dropping and will continue to do so for a while. If you are seriously worried about this then don't buy are modern Ferrari. Its a decision from the heart.
550's are fantastic cars. The power delivery is mind boggling and with a Tubi they sound fantastic
Where do you live ? I can show you my car if local ( any excuse for a spin )
Frostie
>> Edited by frostie on Sunday 11th April 07:47
I am in my second year of ownership of a '99 car. Total running cost for first year was approx 3k which is pretty much what I always recommend for any modern Ferrari. This included a service (1k), new clutch (1.2k) plus a few other bits & bobs, mainly age related but a couple self induced. I use Verdi's who I recommend highly.
Insurance - I pay 1.8k. 550's seem to be about double the cost of 355's and none of the "quote me happy" type companies will even insure one. Forget trying online also.
MPG - Haven't got a clue - would make me cry if I attempted to calculate.
Depreciation - They are still dropping and will continue to do so for a while. If you are seriously worried about this then don't buy are modern Ferrari. Its a decision from the heart.
550's are fantastic cars. The power delivery is mind boggling and with a Tubi they sound fantastic
Where do you live ? I can show you my car if local ( any excuse for a spin
) Frostie
>> Edited by frostie on Sunday 11th April 07:47
monsieur_x,
Insurance - As always with insurance, it depends on your age, profile, where you live and ..... anything else which the insurer can 'make up' to inflate the annual premium (like modifications for example). Expect anything from 2-3K if you are insuring on agreed value. If you are insuring at 'market value', then anything under 2K is good for this car.
Servicing - Depends on whether you go for a dealer service or an independent. Assuming you go for an independent and there no major parts other than cambelts, approx £800 for a minor service; 2K for a major one. Add approx 20-30% if you go to a main dealer..... unless things have changed since I last looked at dealer servicing.
Residuals - Not great quite frankly. 550s are still depreciating - not as fast but they do from new but they are still depreciating. Also residuals are much more affected by mileage/service history than Porkers. You may want to reconsider your annual mileage figure down a bit if you are bothered by residuals.
Cost of consumables - expensive, no doubt about it. I am struggling to remember anything that was under £500 during my 2 years of ownership. However, there are some great independents out there who can offer competitive packages and take the pain out of this. Fairly certain that it will be more expensive than a Porker though.
Fuel - Don't ask - its a a V12. Best I remember is mid 20's (on the motorway in 6th), most of the time its single figures (particularly if driven hard). Shell 'Optimax' or the new 'BP Ultimate Unleaded' petrol will give better economy. If you don't use the higher octanes though, it will definately be single figures.
Overall, I think you'll find its an expensive car to run in comparison to the Porker. But, the cost of ownership is worth the experience: It goes like hell with the hammer down, its reliable (if you get it serviced properly), it sounds like 'Armageddon' with a TUBI; and, you won't get bored with it. But cheap to run? Nope! With Ferrari its all about the driving experience. No other marque has given me the blend of excitement and refinement that the 550 has - All-be-it at a cost. I have never stopped enjoying it since the day I took ownership!
Regards
Insurance - As always with insurance, it depends on your age, profile, where you live and ..... anything else which the insurer can 'make up' to inflate the annual premium (like modifications for example). Expect anything from 2-3K if you are insuring on agreed value. If you are insuring at 'market value', then anything under 2K is good for this car.
Servicing - Depends on whether you go for a dealer service or an independent. Assuming you go for an independent and there no major parts other than cambelts, approx £800 for a minor service; 2K for a major one. Add approx 20-30% if you go to a main dealer..... unless things have changed since I last looked at dealer servicing.
Residuals - Not great quite frankly. 550s are still depreciating - not as fast but they do from new but they are still depreciating. Also residuals are much more affected by mileage/service history than Porkers. You may want to reconsider your annual mileage figure down a bit if you are bothered by residuals.
Cost of consumables - expensive, no doubt about it. I am struggling to remember anything that was under £500 during my 2 years of ownership. However, there are some great independents out there who can offer competitive packages and take the pain out of this. Fairly certain that it will be more expensive than a Porker though.
Fuel - Don't ask - its a a V12. Best I remember is mid 20's (on the motorway in 6th), most of the time its single figures (particularly if driven hard). Shell 'Optimax' or the new 'BP Ultimate Unleaded' petrol will give better economy. If you don't use the higher octanes though, it will definately be single figures.
Overall, I think you'll find its an expensive car to run in comparison to the Porker. But, the cost of ownership is worth the experience: It goes like hell with the hammer down, its reliable (if you get it serviced properly), it sounds like 'Armageddon' with a TUBI; and, you won't get bored with it. But cheap to run? Nope! With Ferrari its all about the driving experience. No other marque has given me the blend of excitement and refinement that the 550 has - All-be-it at a cost. I have never stopped enjoying it since the day I took ownership!
Regards
Thanks for the swift and helpful replies!
It is roughly in line with what I expected - expensive, but then it is a V12 Ferrari after all. You have to pay for quality! I suppose I'd better get myself a test drive - Verdi have been mentioned, are there any other recommendations for helpful/friendly dealers or specialists?
Also, what kind of prices are we talking about for private sales here? Dealer prices look a bit on the expensive side, although Verdi seem more reasonable. I accept the depreciation, but don't want to pay through the nose if I can help it.
Anyway, thanks for your help, and I will report back once I get round to driving one.
P.S. Frostie - very much interested in your kind offer, you have mail!
It is roughly in line with what I expected - expensive, but then it is a V12 Ferrari after all. You have to pay for quality! I suppose I'd better get myself a test drive - Verdi have been mentioned, are there any other recommendations for helpful/friendly dealers or specialists?
Also, what kind of prices are we talking about for private sales here? Dealer prices look a bit on the expensive side, although Verdi seem more reasonable. I accept the depreciation, but don't want to pay through the nose if I can help it.
Anyway, thanks for your help, and I will report back once I get round to driving one.
P.S. Frostie - very much interested in your kind offer, you have mail!
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