very low mileage - why?
Discussion
Idly looking through the ads for 430 spiders, a car I'va always fancied, I could help but note the 13 (out of 65) cars for sale with less than 1000 miles on the clock. What's that all about then? A few may be dealer cars but in most cases an owner must have taken a bath on ownership. Is it the recession or just the case that a Ferrari with any mileage on it sinks in value like the Titanic and so many cars are garage queens?
Its not uncommon for a lot of prestige cars for the reasons outlined below - I'm sure someone will add others :
1. People who buy exotica tend to be relatively rich. This is usually the result of working bloody hard, leaving little time to drive the card they buy.
2. If you can afford a brand new Ferrari, there is a good chance you have got several cars. So even when you are in the country, not travelling with a family and not working hard, it's going to be a toss up which car you drive.
3. Some people are speculators, and just buy the car in the hope they make some money. Most of them won't but if doesn't stop people trying.
4. A small number of people probably fiddle the mileage. It happens on other cars so no reason to believe Ferraris are immune..
1. People who buy exotica tend to be relatively rich. This is usually the result of working bloody hard, leaving little time to drive the card they buy.
2. If you can afford a brand new Ferrari, there is a good chance you have got several cars. So even when you are in the country, not travelling with a family and not working hard, it's going to be a toss up which car you drive.
3. Some people are speculators, and just buy the car in the hope they make some money. Most of them won't but if doesn't stop people trying.
4. A small number of people probably fiddle the mileage. It happens on other cars so no reason to believe Ferraris are immune..
mr_tony said:
Its not uncommon for a lot of prestige cars for the reasons outlined below - I'm sure someone will add others :
1. People who buy exotica tend to be relatively rich. This is usually the result of working bloody hard, leaving little time to drive the card they buy.
2. If you can afford a brand new Ferrari, there is a good chance you have got several cars. So even when you are in the country, not travelling with a family and not working hard, it's going to be a toss up which car you drive.
3. Some people are speculators, and just buy the car in the hope they make some money. Most of them won't but if doesn't stop people trying.
4. A small number of people probably fiddle the mileage. It happens on other cars so no reason to believe Ferraris are immune..
5. The perception is (wrongly) that Ferrari's with lots of miles on them are not good and everyone wants a garage queen1. People who buy exotica tend to be relatively rich. This is usually the result of working bloody hard, leaving little time to drive the card they buy.
2. If you can afford a brand new Ferrari, there is a good chance you have got several cars. So even when you are in the country, not travelling with a family and not working hard, it's going to be a toss up which car you drive.
3. Some people are speculators, and just buy the car in the hope they make some money. Most of them won't but if doesn't stop people trying.
4. A small number of people probably fiddle the mileage. It happens on other cars so no reason to believe Ferraris are immune..
marc.l said:
I always buy on condition rather than Mileage . Don`t see any thing wrong with high mileage cars as long as they are priced acordingly.
All the realy low mileage for there age cars have been nothing but trouble for me.
But there's a certain mileage most people won't go beyond on a Ferrari... It affects resale significantly on Fcars, even though the 355 onwards can handle mega miles.All the realy low mileage for there age cars have been nothing but trouble for me.
SonnyM said:
marc.l said:
I always buy on condition rather than Mileage . Don`t see any thing wrong with high mileage cars as long as they are priced acordingly.
All the realy low mileage for there age cars have been nothing but trouble for me.
But there's a certain mileage most people won't go beyond on a Ferrari... It affects resale significantly on Fcars, even though the 355 onwards can handle mega miles.All the realy low mileage for there age cars have been nothing but trouble for me.
There is an obsession with mileage in the UK. From what I have seen cars on the continent routinely cover significantly higher miles. What is interesting to me is that there are significant numbers of 355's and 360's for sale year on year where the general mileage does not seem to be increasing. It does not take a genius to figure out how that is achieved. Personally I have bought my 360 to use, at the end of the day it is a car and built for a purpose; to be driven. I would always buy on condition and pretty much disregard mileage if the figure seems unrealistically low. I saw many, many lower mileage cars which were in a much poorer condition than the one I eventually bought. Incidentally it is by far the best thing I have ever bought. Don't be scared of servicing costs, go independent, buy one and for goodness sake use it!!!
Davey S2 said:
5. The perception is (wrongly) that Ferrari's with lots of miles on them are not good and everyone wants a garage queen
+1 A lot of people always perceive that a low mileage car means it's in good condition and relatively problem free. This isn't always the case though, for example a older car that has only done 200 miles in 5 years will need quite a few things doing to it, for it to be back up to scratch. Where as a car that's been used more regularly and has been WELL MAINTAINED would probably be a better buy.As for the cars your looking at, they are all relatively new so I wouldn't worry about low mileage cars at all.
when I purchased my Maserati merak it had done 7,000 miles in 25 years. I had a full pre purchase inspection done and was told it was one of the most original cars they had seen and faultless. One the way home the clutch master cylinder went and it started running on 5. Serviced it and rebuilt the carbs and all was fine. Next up was the oil seal on the end of the crank that went and contaminated the clutch, £2500 later all was well. Starter went next shortly followed by the alternator followed by a bearing/bush in the distributer. Window winder motor went next followed by the hydrolic cylinders for the pop up head lights.
When I was looking for my 308 I looked at a few low milage cars that were just crap but very well polished. The car I in the end went for was a `79 that had done 66k miles but had been laid up for a couple of years and so far so good. Its let me down twice, once due to water pump failure and once due to a rotor arm cracking. The more it gets used the beter it runs and its done about 12k miles in 18 months and is always thrashed to with in half an inch of its life by who ever drives it. Its now starting to get a bit smokey on over run and uses a bit of oil but if it gets any worse a head rebuid will be required. I think Ferrari owners fall in to 2 camps, the ones who like to look at them, polish them and drive on high days and the ones who drive them in a way that Enzo would approve, flat out, and with out regards to cost.
If your going to drive it buy the best compromise over price and mileage, dont pay a premium for low miles. If your going to look at it rather than drive it buy the lowest mileage car you can afford
When I was looking for my 308 I looked at a few low milage cars that were just crap but very well polished. The car I in the end went for was a `79 that had done 66k miles but had been laid up for a couple of years and so far so good. Its let me down twice, once due to water pump failure and once due to a rotor arm cracking. The more it gets used the beter it runs and its done about 12k miles in 18 months and is always thrashed to with in half an inch of its life by who ever drives it. Its now starting to get a bit smokey on over run and uses a bit of oil but if it gets any worse a head rebuid will be required. I think Ferrari owners fall in to 2 camps, the ones who like to look at them, polish them and drive on high days and the ones who drive them in a way that Enzo would approve, flat out, and with out regards to cost.
If your going to drive it buy the best compromise over price and mileage, dont pay a premium for low miles. If your going to look at it rather than drive it buy the lowest mileage car you can afford
I agree with buying on condition, but a low mileage car is always going to attract more buyers, therefore there'll always be a temptation to keep the miles low in either genuine or nefarious ways. Until the majority of folks stop obsessing about the number on the dash, then it will always be this way.
bordseye said:
Idly looking through the ads for 430 spiders, a car I'va always fancied, I could help but note the 13 (out of 65) cars for sale with less than 1000 miles on the clock. What's that all about then? A few may be dealer cars but in most cases an owner must have taken a bath on ownership. Is it the recession or just the case that a Ferrari with any mileage on it sinks in value like the Titanic and so many cars are garage queens?
Low mileage cars can be a good, but on the other hand can be an absolute nightmare. If a car has sat in a garage not doing anything for 2 years then the chances are sills will have perished and things will have seized up. The general consensus when buying older cars is buy one that's been used BUT maintained well.The cars your looking at though, (430s) are pretty new so I wouldn't worry about buying low mileage cars. Just buy on condition and history.
ThreesixtyM said:
There is an obsession with mileage in the UK. From what I have seen cars on the continent routinely cover significantly higher miles. What is interesting to me is that there are significant numbers of 355's and 360's for sale year on year where the general mileage does not seem to be increasing. It does not take a genius to figure out how that is achieved. Personally I have bought my 360 to use, at the end of the day it is a car and built for a purpose; to be driven. I would always buy on condition and pretty much disregard mileage if the figure seems unrealistically low. I saw many, many lower mileage cars which were in a much poorer condition than the one I eventually bought. Incidentally it is by far the best thing I have ever bought. Don't be scared of servicing costs, go independent, buy one and for goodness sake use it!!!
I just passed 85,000 miles in mine 
Well done Bebs. I couldn't give a rats ass about mileage. If you're not going to use these cars then don't buy one, if residuals worry you then don't buy one, if you want the most complete performance car experience bar none then buy one and enjoy it. Nothing comes close and i've had a dozen 911's before crossing over. Happy Days!!!!!!!
The question isnt about whether it best to buy a low mileage or a high mileage car. Its more about why there are so many very low mileage Ferraris about - cars that are bound to have cost the owner a fortune in £ per mile. And whether itd true that mileage is so important in the eyes of the usual second hand buyer that there's a lot of winding back going on.
Thats the impression I'm getting. And since I'm not prepared to wind back the mileage or to simply keep a car in the gargae and "detail" it, my dream of owning a Ferrari looks likely to cost me an awful lot in depreciation
Thats the impression I'm getting. And since I'm not prepared to wind back the mileage or to simply keep a car in the gargae and "detail" it, my dream of owning a Ferrari looks likely to cost me an awful lot in depreciation
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