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Clevers
Original Poster
978 posts
70 months
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Sorry to ask a naive question.
But if you found £80K (or so) under you bed, where is the wisest place to put it from an all round perspective. Two options:
1) outright purchase of F430. Benefits obviously car is now yours etc...or
2) deposit down on a used 458 Italia + finance and then balloon at the end.
What would you do on balance taking into account driving and protecting your investment. I guess I should be able to work this out myself, but I am four glasses into a bottle of Pinot.
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Shmee
5,716 posts
82 months
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Rough guesstimate you could get a 458 for £160k, the balloon on 3 years might be around £60k (I have absolutely no idea) so the payments are small at £500 or so a month with your deposit and probably only inline with the costs on an F430 over the year as the 458 will also have free warranty and service for the 3 years; service and warranty would be £4k a year + potential non-covered issues on an F430 I think.
However at the end of that you have maybe only a small amount of deposit (£20-30k? This is the gamble; could also be more) to take back from the 458 unless it gets handed back versus an F430 that will be worth maybe £40-45k?
End of the day, the 458 is SO much more car surely this is a no-brainer!?
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Clevers
Original Poster
978 posts
70 months
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Shmee said: Rough guesstimate you could get a 458 for £160k, the balloon on 3 years might be around £60k (I have absolutely no idea) so the payments are small at £500 or so a month with your deposit and probably only inline with the costs on an F430 over the year as the 458 will also have free warranty and service for the 3 years; service and warranty would be £4k a year + potential non-covered issues on an F430 I think.
However at the end of that you have maybe only a small amount of deposit (£20-30k? This is the gamble; could also be more) to take back from the 458 unless it gets handed back versus an F430 that will be worth maybe £40-45k?
End of the day, the 458 is SO much more car surely this is a no-brainer!? Thanks, I am not mad then....was thinking same as you. Funny thing though, I prefer the looks of the F430 for some reason.
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sandmanF1
132 posts
11 months
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F430 scuderia perhaps? although 80K will certainly not buy one out right.
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andysv
1,066 posts
96 months
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I have been watching 458s in Europe, much cheaper if you can live with lhd which has never been a problem for me or as posted above a Scud looks a safe place to put hard earned savings at the moment.
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Mandatory Fields
52 posts
9 months
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I think you'd have trouble putting a miracle 80k in the bank
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tyrewrecker
6,419 posts
23 months
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No but you can work for it
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LukeyLikey
431 posts
16 months
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Interest cost plus depreciation, less cost of repairs on a 430 = the additional cost of owning a 458
At 4%, interest costs might be about £4k per year, depreciation is probably £25k per year and a 430 will cost about £3-£5k per year in repairs.
Roughly £25k pa to drive a 458 over a 430. Still sounds a lot to me given the 430 is not too shabby.
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Shmee
5,716 posts
82 months
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^ There's depreciation on the F430 as well
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LukeyLikey
431 posts
16 months
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Shmee said: ^ There's depreciation on the F430 as well Ahh, good point, I forgot that! Still in the £15-£20k range though.
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kbf1981
1,561 posts
69 months
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The F430 is cheap motoring for a Ferrari imho - much less than a 458.
For example, buy a 2006 430 from a Ferrari dealer over Christmas, haggle a deal, and you'll get a well sorted car at the bottom of it's seasonal pricing curve at around £70k that's got a 2 year Ferrari Power Warrenty.
What repairs will you pay for? None....your costs will be petrol, tyres, consumables, so way less than £5k. Tyres are only skinny on a 430 too, so they'll be £300 a piece. Petrol is the expensive bit at 15mpg.
In terms of a 458, buy it brand new and you're looking at £25k first year depreciation. What will a 430 depreciation too in that time? £10k maybe....so you've saved £15k on the first year plus the cost of capital / loan.
Go for whichever you want, both great cars, however I do think 430's are a bit of a bargain now.....hence why I bought one.
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gko88
13 posts
61 months
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430 is the sensible choice from a financial standpoint, but once you have it you'll be forever wondering about what it'd be like to have the 458 instead. These are goods of desire- go for the 458 and it'll be the path of least regret, even if costs a bit more.
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icebite78
155 posts
83 months
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kbf1981 said: The F430 is cheap motoring for a Ferrari imho - much less than a 458.
For example, buy a 2006 430 from a Ferrari dealer over Christmas, haggle a deal, and you'll get a well sorted car at the bottom of it's seasonal pricing curve at around £70k that's got a 2 year Ferrari Power Warrenty.
What repairs will you pay for? None....your costs will be petrol, tyres, consumables, so way less than £5k. Tyres are only skinny on a 430 too, so they'll be £300 a piece. Petrol is the expensive bit at 15mpg.
In terms of a 458, buy it brand new and you're looking at £25k first year depreciation. What will a 430 depreciation too in that time? £10k maybe....so you've saved £15k on the first year plus the cost of capital / loan.
Go for whichever you want, both great cars, however I do think 430's are a bit of a bargain now.....hence why I bought one. I do understand what your saying but when buying a cars like these,it is never sensible in finance terms its for me anyway always bought by heart so i say 458 all the way my friend.
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bmad
80 posts
67 months
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LukeyLikey said: Interest cost plus depreciation, less cost of repairs on a 430 = the additional cost of owning a 458
At 4%, interest costs might be about £4k per year, depreciation is probably £25k per year and a 430 will cost about £3-£5k per year in repairs.
Roughly £25k pa to drive a 458 over a 430. Still sounds a lot to me given the 430 is not too shabby. Ouch! You were unlucky! Have had my 430 now for nearly two years. Year 1 I needed 2 new rear tyres at just over £500 a pair. Annual service was £750 at Maranello. This year absolutely nothing! Fronts will need changing shortly and annual service in December should be in line with last year. Had a 360 for two years before the 430 and costs were similar, though I did get stung for an £800 bill for a knackered exhaust manifold. I realise these cars can cost a lot to repair if things go wrong but in my experience they seem quite reliable. Certainly not 3-5k in repairs alone. Wouldn't have bought either of them if those sorts of bills were routine! Mind you things might change for me soon. Really want a classic Ferrari so in February the 430 is making way for a Teatarossa! Can't bloody wait
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F355spider
976 posts
100 months
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Clevers said: Sorry to ask a naive question.
But if you found £80K (or so) under you bed, where is the wisest place to put it from an all round perspective. Two options:
1) outright purchase of F430. Benefits obviously car is now yours etc...or
2) deposit down on a used 458 Italia + finance and then balloon at the end.
What would you do on balance taking into account driving and protecting your investment. I guess I should be able to work this out myself, but I am four glasses into a bottle of Pinot. If you are four glasses into a bottle of pinot invest the 80k wisely into something else(possibly pork bellies). You could easily have a decent yacht within three years.
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groak
3,254 posts
48 months
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F355spider said: Clevers said: Sorry to ask a naive question.
But if you found £80K (or so) under you bed, where is the wisest place to put it from an all round perspective. Two options:
1) outright purchase of F430. Benefits obviously car is now yours etc...or
2) deposit down on a used 458 Italia + finance and then balloon at the end.
What would you do on balance taking into account driving and protecting your investment. I guess I should be able to work this out myself, but I am four glasses into a bottle of Pinot. If you are four glasses into a bottle of pinot invest the 80k wisely into something else(possibly pork bellies). You could easily have a decent yacht within three years. 16 of these beauties would gross you £60kpa +/- for your £80k, but you'd need to know a bit about about propery letting to get near it.  http://www.rightmove.co.uk/property-for-sale/prope...
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Lambo FirstBlood
592 posts
48 months
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groak said: Definitely the right idea but in my experience you'd be very, very unlikely to actually collect anywhere near that amount when you account for void periods, non payment of rents and damaged caused by tenants. Only my experience of course. £5K for a flat though!
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Clevers
Original Poster
978 posts
70 months
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groak said: Hey, if I relocate the family to one of those flats, then I could afford a 458...
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sandbanks61
8 posts
11 months
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And I was thinking of moving back to Scotland,how opportune!
I'd go for a low mileage Scuderia.
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Obiwonkeyblokey
4,849 posts
109 months
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Clevers said: but I am four glasses into a bottle of Pinot. The first thing I would do is buy bigger wine glasses.
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