Roma with my Triple Lock
Discussion
More of a financial / running costs question.
I have been retired for a few years, I am 57. A Ferrari was never on the cards until later in life and I thought perhaps I could use my state pension for that as I never budgeted to need it for anything.
I am now seeing Romas at around £120,000 so perhaps closer than I think.
Simple question: can I run one for say 3 years on £1,000/month all inclusive. I do mean including everything: depreciation, servicing, fuel based on 4k miles/year, insurance, all maintenance/servicing at indy.
There is a 2022 car with a bit of servicing left so that could help. But overall it might be tricky...
I have been retired for a few years, I am 57. A Ferrari was never on the cards until later in life and I thought perhaps I could use my state pension for that as I never budgeted to need it for anything.
I am now seeing Romas at around £120,000 so perhaps closer than I think.
Simple question: can I run one for say 3 years on £1,000/month all inclusive. I do mean including everything: depreciation, servicing, fuel based on 4k miles/year, insurance, all maintenance/servicing at indy.
There is a 2022 car with a bit of servicing left so that could help. But overall it might be tricky...
It probably wouldn't be unfair to assume that you'd get somewhere around £100k for it in 3 years. 3 services at a main dealer would be in the region of £4-5k. I'd also set aside £2-3k per year for 'repairs', just in case, although you may never need it. So I'd expect it to cost around £30k for 3 years, plus fuel and insurance.
It could be that in 3 years it's worth more than my estimate, in which case you'd be in positive territory, but I don't think it'll be a million miles away.
It could be that in 3 years it's worth more than my estimate, in which case you'd be in positive territory, but I don't think it'll be a million miles away.
I’m running a 2022 Roma , servicing is free at the moment until 2029 , I am in my second year of warranty (bought from Ferrari dealer so 2 year warranty) . I think extending the warranty will be around 4-5k/year .cant comment on finance costs as I never use finance .
Cracking cars for the money , but depreciation is difficult to predict .I bought mine in March 25 and the retail prices are quite similar to then ( obviously mileage makes a huge difference) but you would have to reckon on depreciation of between 10-20k a year easily .
Cracking cars for the money , but depreciation is difficult to predict .I bought mine in March 25 and the retail prices are quite similar to then ( obviously mileage makes a huge difference) but you would have to reckon on depreciation of between 10-20k a year easily .
nickfrog said:
I have been retired for a few years, I am 57. A Ferrari was never on the cards until later in life and I thought perhaps I could use my state pension for that as I never budgeted to need it for anything.
I am now seeing Romas at around £120,000 so perhaps closer than I think.
The glaring issue with this plan is you don't get your SP for another decade I am now seeing Romas at around £120,000 so perhaps closer than I think.
Financial considerations are one thing, but if you really want one and can afford it then do it now. Even if perhaps you do a bit of part time stuff to cover the cost, or take a slight hit later on, do it sooner rather than later.
I retired early 7 years ago, and I'm amazed at how much less I can do now than then, fitness and mobility have declined, although falling off a ladder over a stairwell at 58 didn't help.
Besides, according to the stats there's a 10% chance you won't reach 67
Have you considered an older Ferrari? They don't seem to be depreciating like newer ones although there will of course be maintenance.
I've just bought a 550 for similar reasons to yours but driven by the fact I wanted a manual V12. I can assure you that t's an epic car.
Buy a prancing horse, you know you want to
I've just bought a 550 for similar reasons to yours but driven by the fact I wanted a manual V12. I can assure you that t's an epic car.
Buy a prancing horse, you know you want to
ex-devonpaul said:
The glaring issue with this plan is you don't get your SP for another decade
Financial considerations are one thing, but if you really want one and can afford it then do it now. Even if perhaps you do a bit of part time stuff to cover the cost, or take a slight hit later on, do it sooner rather than later.
I retired early 7 years ago, and I'm amazed at how much less I can do now than then
So the original plan was to wait until then but when I saw what they came down to I thought I could do that now.Financial considerations are one thing, but if you really want one and can afford it then do it now. Even if perhaps you do a bit of part time stuff to cover the cost, or take a slight hit later on, do it sooner rather than later.
I retired early 7 years ago, and I'm amazed at how much less I can do now than then
I take your point indeed about fitness although I am hoping to stay active for a long time as I have always been lean and flexible, with loads of tennis and mountain biking.
Oldwolf said:
Have you considered an older Ferrari? They don't seem to be depreciating like newer ones although there will of course be maintenance.
I've just bought a 550 for similar reasons to yours but driven by the fact I wanted a manual V12. I can assure you that t's an epic car.
Buy a prancing horse, you know you want to
Yes I will either have a look at that or perhaps hope that those Romas will be £80k in 5 years?I've just bought a 550 for similar reasons to yours but driven by the fact I wanted a manual V12. I can assure you that t's an epic car.
Buy a prancing horse, you know you want to
What complicates things is that I have a 10 year old step daughter and it would be nice to accommodate her but then again in 5 years she won't fit so might as well have a 2 seater which might open up more choice.
nickfrog said:
More of a financial / running costs question.
I have been retired for a few years, I am 57. A Ferrari was never on the cards until later in life and I thought perhaps I could use my state pension for that as I never budgeted to need it for anything.
I am now seeing Romas at around £120,000 so perhaps closer than I think.
Simple question: can I run one for say 3 years on £1,000/month all inclusive. I do mean including everything: depreciation, servicing, fuel based on 4k miles/year, insurance, all maintenance/servicing at indy.
There is a 2022 car with a bit of servicing left so that could help. But overall it might be tricky...
Over 3 years with dealer bid / ask spread and all the other running costs on £12k / year. I doubt it. I'd imagine at least 50% more than that budget.I have been retired for a few years, I am 57. A Ferrari was never on the cards until later in life and I thought perhaps I could use my state pension for that as I never budgeted to need it for anything.
I am now seeing Romas at around £120,000 so perhaps closer than I think.
Simple question: can I run one for say 3 years on £1,000/month all inclusive. I do mean including everything: depreciation, servicing, fuel based on 4k miles/year, insurance, all maintenance/servicing at indy.
There is a 2022 car with a bit of servicing left so that could help. But overall it might be tricky...
Also you mention OP servicing... you know that the first 7 years life of the car are covered for AD servicing in the purchase price right? You do need to think about warranty however, which is a considerable expense if you choose to take it.
But having said that as OPs have said, you don't know how long you are going to last. And even if you do last, you don't know how long you will be fit enough to enjoy it. So you have to balance the time / money equation out depending on your unique circumstance.
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