348 Prices Static? Money Pit?
Discussion
I recently had a car written off and the one saving grace was the insurance company paid out more than I purchased the car for almost 2 years previously.
I'd always enforced a relatively low price limit for myself when it comes to cars but this experience has made me think that I could possibly justify moving some savings in to a car as long as that car was one that has done with depreciating and doesn't cost huge amounts to keep in good condition (summer weekend only car) and easy to sell on at a later date.
Do you guys think an ~£25,000 348 would fit this bill? I have to say they have alway been a favourite of mine.
I'd always enforced a relatively low price limit for myself when it comes to cars but this experience has made me think that I could possibly justify moving some savings in to a car as long as that car was one that has done with depreciating and doesn't cost huge amounts to keep in good condition (summer weekend only car) and easy to sell on at a later date.
Do you guys think an ~£25,000 348 would fit this bill? I have to say they have alway been a favourite of mine.
A 348 isn't really going to depreciate that much (save for losing the dealer premium of about £3k, actually probably more with 348s....), but you're still going to be averaging at least £2k+ per year on servicing, maintenance and consumables alone, assuming nothing major goes wrong and you only do a few thousand miles in it per year. Then add fuel at 35p+ per mile at current prices, plus any upgrades you do (exhaust, 355 wheels etc)....it gets expensive quickly! About the only thing that is (relatively) cheap about older Ferraris is the insurance (I'm 29, live in bad London postcode and pay £640 per year for 7.5k miles). I've got detailed running costs of my 355 (not entirely dissimilar to those of a 348) in my PH garage if you want an vague idea of what to expect.
That said, although they're pricey, nothing beats an Fcar!
That said, although they're pricey, nothing beats an Fcar!
Edited by Mario149 on Thursday 28th April 00:27
Edited by Mario149 on Thursday 28th April 00:28
£25k should get you a nice private 348.
They are not particularly expensive to run, although allow £1500 for an engine out cam belt change/major service every three years or 24-30k miles, whichever sooner.
I have had a Spider and, more recently a Berlinetta, and absolutely loved both. I will no doubt go back to one again at some point. The Testarossa is an awesome machine but, I think on the whole I prefer the 348 as it is just so easy to live with and drive.
Get a good one and you certainly shouldn't lose anything in depreciation.
They are not particularly expensive to run, although allow £1500 for an engine out cam belt change/major service every three years or 24-30k miles, whichever sooner.
I have had a Spider and, more recently a Berlinetta, and absolutely loved both. I will no doubt go back to one again at some point. The Testarossa is an awesome machine but, I think on the whole I prefer the 348 as it is just so easy to live with and drive.
Get a good one and you certainly shouldn't lose anything in depreciation.
I have just sold a lovely 93 tb which i bought fully prepared from the Ferrari Centre for 29k it had done 38000 miles and i did a further 10k in 2 years and had nothing more than blown bulb to deal with.
I had an annual service at Graypaul Nottingham for £450 and replaced front pads and tyres for £350.
Obviously you will need a sports exhaust which you could get from Nouvalari for around £600
I was 27 when I bought it and paid £600 for the insurance - The second year i paid £440 through Michael Ward associates.
It was the most reliable car I have owned and was great to drive - Ignore the people who say they're not quick because they are - I've played with 355s Evos E46 M3s ect ect and the 348 usually came out on top.
Its a great way into ownership without having to make do with a Mondial or 308 GT4.
You would loose more money on a new Focus - My car sold for £21500 but it did need around £3500 spending on it with paint and Cambelt service but that is part of the running costs ( with these it would have sold for 25k.
Things can go wrong with them and be expensive but that is the risk you take.
People often used to say to me "30 grand? is that all? i could buy one!"
To which i would reply "well grow some balls and do it then"
That is what it is all about - Just do it and enjoy it!!!
I had an annual service at Graypaul Nottingham for £450 and replaced front pads and tyres for £350.
Obviously you will need a sports exhaust which you could get from Nouvalari for around £600
I was 27 when I bought it and paid £600 for the insurance - The second year i paid £440 through Michael Ward associates.
It was the most reliable car I have owned and was great to drive - Ignore the people who say they're not quick because they are - I've played with 355s Evos E46 M3s ect ect and the 348 usually came out on top.
Its a great way into ownership without having to make do with a Mondial or 308 GT4.
You would loose more money on a new Focus - My car sold for £21500 but it did need around £3500 spending on it with paint and Cambelt service but that is part of the running costs ( with these it would have sold for 25k.
Things can go wrong with them and be expensive but that is the risk you take.
People often used to say to me "30 grand? is that all? i could buy one!"
To which i would reply "well grow some balls and do it then"
That is what it is all about - Just do it and enjoy it!!!
A fellow Club Scud memeber is selling his very nice 348 after doing quite a bit of work on it.
www.clubscuderia.co.uk/forum/showthread.php?t=4314...
www.clubscuderia.co.uk/forum/showthread.php?t=4314...
I have owned my 348 eleven years now and have loved every second of it. I have driven it to Italy four or five times plus several other lengthy trips. It has never left me stranded. Wonderful, wonderful car. MPG is pretty good too. Allow £1.5k a year for maintenance etc. which allows a bit of latitude for the occasions when a bit more than a basic service needs doing. My car depreciated 100% the day I bought it. Never any question of swapping it for anything else.
Jonathan
Jonathan
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