Buying Ferrari - 458 vs 488?

Buying Ferrari - 458 vs 488?

Author
Discussion

TonyF

2,130 posts

220 months

Tuesday 13th December 2016
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My dealer offered me 25k more than I paid for my 458 spider 2 years earlier if I would chop it in against my 488 to which I politely declined....

jurassic86

Original Poster:

67 posts

86 months

Tuesday 13th December 2016
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Was that a high offer on your 458 to get you into a 488? Ie Move the profit from the 488 to get you a better px against the 458

Shazbat

168 posts

81 months

Tuesday 13th December 2016
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jurassic86 said:
Hi Guys

Although I know their is no right or wrong answer as most of it is speculative but I am considering buying either a 458 or 488.

I had originally considered a 458 but having looked for 4 months can't seem to find one that I've fallen in love with. Either the mileage is too high the specification is wrong or the colour combo is not to my taste. I suspect I'm just fussy but buying a dream car has to be perfect.

Naturally I've looked at the 488 and if I'm honest after initially discounting it on the basis of the turbo and looks... It's really started to grow on me and I'm now at a point where I can find more 488s out their to my liking than 458s.

My only concern is depreciation on a new model such as the 488. I understand that some people buy a car and keep it for many years however I'll likely be bored and wanting my next fix after 12 months at most so the question I'm asking is... Would one expect to take a much harder hit on depreciation with a 488 vs a 458?

I've seen the prices on 458 fall in the past 6 months but not at an astronomical rate and given the weather and season not supprised. Does anyone here have any ideas what levels of depreciation can be expected on a 488 vs 458?
To answer your question, yes the hit on a 488 will be far greater. Even in a year you're bound to do a fair chunk on a 488 esp. if you buy from a dealer then sell back to a dealer. That will be two margins alone lost, and that's before you even get to the actual amount that the car has depreciated by.

If you are worried about depreciation and don't mind a more focused car then why not look at a Scuderia ? A better steer than a Speciale, 458 and 488 IMO.

av185

8,827 posts

71 months

Tuesday 13th December 2016
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Actually 458s could well take a bigger hit depreciation wise. With even the cheapest 6+ year old cars still advertised at strong money artificially propped up by the Ferrari network they could be the first to take a hit if the market cools further. Plenty remain unsold even accounting for seasonal dip.

Looking at a black 2012 Italia priced at £165k (md) today.....I mean come on....for a 4+year old car! Joke price imo.

And Mclaren are chomping at the Ferrari bit which will undermine prices further.

driving

RamboLambo

4,843 posts

114 months

Wednesday 14th December 2016
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av185 said:
Actually 458s could well take a bigger hit depreciation wise. With even the cheapest 6+ year old cars still advertised at strong money artificially propped up by the Ferrari network they could be the first to take a hit if the market cools further. Plenty remain unsold even accounting for seasonal dip.

Looking at a black 2012 Italia priced at £165k (md) today.....I mean come on....for a 4+year old car! Joke price imo.

And Mclaren are chomping at the Ferrari bit which will undermine prices further.

driving


Whilst I agree with the above the OP is probably not early enough to avoid big depreciation on a 488 at list price either as in a years time there will be a lot more on the used market.
The 458 being the cheaper car should depreciate less in pounds value over 12 months but that said its got to come back off the current high prices so at least be prepared to lose £30k IMHO which if you take buying at Retail and selling at Trade maybe very conservative and could easily amount to £50k with a slight price correction.

Its always going to be a danger buying in at possibly the peak of the 458 N/a hype.
Just as a sanity check I could of bought a brand new car cheaper 2 years ago than the equivalent used one today and we are not talking about a limited edition car. That defies logic and just be wary prices are only going to go one way and that could be a high price to pay for years motoring

jurassic86

Original Poster:

67 posts

86 months

Wednesday 14th December 2016
quotequote all
I would think 50k is a bit over conservative... I think 15/20k is somewhere near but as you point out they are on the top of a Na hype. Furthermore we are now seeing mileage entries of between 10/20k which are pushing low 150s, and will expect to see into the high 140s in the spring of 17. Is this high mileage attributed to Ferrari maintenance packages being the norm now and people now not really concerned about keeping the miles low to avoid servicing ?

Wilmslowboy

2,561 posts

150 months

Wednesday 14th December 2016
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No way you are going to lose £50k in one year on either 488 or a 458 (unless there is a catastrophic economic event or you spec the brand new 488 with some silly options)


As suggested £20k is the most likely amount.


I think it's really hard to call which is going to be ecomically best over the next 12 months........common sense would suggest the newer car would lose more, however 458 prices have held firm for the past 4 years - so there is an argument to say 458 prices have some catching up to do (In terms of deprecation).


I'm in the same quandary - just come from a 12c spider - so I think the 458 may be a step back in performance. The 488 is not available new (in a sensible lead time) so used only...and prices of 488s need to trim back slightly (I'm not in the game of paying over list for a used car)

jurassic86

Original Poster:

67 posts

86 months

Wednesday 14th December 2016
quotequote all
Exactly the problem, and I had considered a mclaren but they seem to depreciate even faster with the exception of the 12-C which now seems to be holding.


Wilmslowboy

2,561 posts

150 months

Wednesday 14th December 2016
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jurassic86 said:
You see speak with you lot I think I'm now swinging more towards a 458 smile

Gosh what an enotional rollacoaster this is
Ran my 12c sypder for 9 months, just over 4K miles - 4K great miles biggrin
Got my money back (Cost me front pads, 1 year manufacturers warranty and an annual service - £5,800)


TonyF

2,130 posts

220 months

Wednesday 14th December 2016
quotequote all
jurassic86 said:
Was that a high offer on your 458 to get you into a 488? Ie Move the profit from the 488 to get you a better px against the 458
No, I hadn't mentioned my 458 whilst doing a deal on the 488 it was afterwards whilst talking when the dealer asked me if I wanted to sell it.
He might have had a buyer looking for one with my spec though.

jurassic86

Original Poster:

67 posts

86 months

Wednesday 14th December 2016
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This then leads me onto options... 458 options which are a must? So far I've got

Nero roof sport seats carbon, suspension lift and carbon dash.

TonyF

2,130 posts

220 months

Wednesday 14th December 2016
quotequote all
Scuderia badges are a must.

Behemoth

1,964 posts

75 months

Wednesday 14th December 2016
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TonyF said:
Scuderia badges are a must.
Personally, I'd pay a premium not to have them. Maybe they improve the uglier cars but on a 458 they spoil an otherwise elegant profile.

Durzel

7,655 posts

112 months

Wednesday 14th December 2016
quotequote all
Behemoth said:
Personally, I'd pay a premium not to have them. Maybe they improve the uglier cars but on a 458 they spoil an otherwise elegant profile.
Unfortunately you'd be very much in the minority.

Shields are a must imo. I'd suggest that the carbon steering wheel with LEDs is too.

garystoybox

227 posts

61 months

Wednesday 14th December 2016
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jurassic86 said:
This then leads me onto options... 458 options which are a must? So far I've got

Nero roof sport seats carbon, suspension lift and carbon dash.
Suspension lift definately not needed unless seriously steep car park entry/exit. Absolutely no probs even with biggest speed bumps. Obviously i'm biased but feel the black interior with carbon seats brings modernity and raises the interior. Funny, althought i love the carbon steering wheel/lights, not loving the plastic backed carbon dash trim. My JBL hi fi with ipod connection isn't great but standard system is awful. Electic folding mirrors a godsend if a single garage door opening. I think these were only standard up till 2011 and then became an option? Upgraded wheels, put please not black!

_Leg_

2,405 posts

155 months

Thursday 15th December 2016
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This might help you decide. :-)

My happy place. I have quite a few cars but I do love my 458 Spider. Sorry about the Satnav position but I need it in my eyeline to see the road coming up. If I appear to talk to myself I'm on the 2 way radio to cars behind. Parts 1, 2 and 3.

https://www.youtube.com/watch?v=HFIDRUOv7AA&t=...

https://www.youtube.com/watch?v=jvLcDWJRFrk

https://www.youtube.com/watch?v=aduBDZUYsw0&t=...

Slickhillsy

1,765 posts

87 months

Thursday 15th December 2016
quotequote all
jurassic86 said:
You see speak with you lot I think I'm now swinging more towards a 458 smile

Gosh what an enotional rollacoaster this is
Have you considered a LHD Speciale? I'm in a LHD Scud and is no problem on uk roads plus a bonus for those euro trips. When I bought there was a big saving to be made going LHD, incidentally that LHD / RHD price spread is now coming down.

With Stirling slightly recovering you could potentially import a LHD Speciale for the price of a well spec'd RHD 458. Keep the car for a few years and enjoy rock solid residues (against softening RHD Speciale prices) and all the upside of owning a Speciale (could be your keeper car).

Enjoy the journey sir, it's often the best bit! wink

boxerTen

479 posts

148 months

Thursday 15th December 2016
quotequote all
garystoybox said:
Suspension lift definately not needed unless seriously steep car park entry/exit. Absolutely no probs even with biggest speed bumps. Obviously i'm biased but feel the black interior with carbon seats brings modernity and raises the interior. Funny, althought i love the carbon steering wheel/lights, not loving the plastic backed carbon dash trim. My JBL hi fi with ipod connection isn't great but standard system is awful. Electic folding mirrors a godsend if a single garage door opening. I think these were only standard up till 2011 and then became an option? Upgraded wheels, put please not black!
I concur on the suspension lift. Absolutely no need for it unless you have a really nasty driveway/entry.

jurassic86

Original Poster:

67 posts

86 months

Thursday 15th December 2016
quotequote all
My drive has a huge incline from the road so either I'll try reversing it up their or suspension lift and driving up. Failing that it'll be kept at work unit

Jonny TVR

2,566 posts

225 months

Tuesday 18th June
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I want to start this debate again 3 years on. After seeing some 488 and 458's at Le Mans this weekend I'm thinking of making the move from my 599 to one of these. What are peoples views?