Is a Portofino for under £100k the most sensible decision?

[Honeywell]

I do see the appeal for 3/4 the cost but for some reason they don't quite light my blue touch paper. They should. But they don't.

[Tom-M]

Guyr said:

Panamax said:

You need to be looking total cost of ownership, which includes depreciation and also the opportunity cost of sinking £100k into a car.

In round numbers, if owning a Portofino is worth £12 to £15 a mile, go for it!

How do you figure that?

How does 3,000 miles per year in a Portofino cost £45k per annum, especially if done for 3-5 years.

£12/£15 per mile seems rather steep -

There is a recent thread on the realistic running costs of a supercar here: https://www.pistonheads.com/gassing/topic.asp?h=0&...

The depreciation on a Portofino should be really easy to work out, as you can check the price of the cali-t that is 3 years older.

As a total guesstimate you're probably looking at close to £10k per year alone in depreciation. Don't forget there is a dealer spread as well, so you're probably £10k down just driving the car away.

If you want to also include the opportunity cost of losing access to your £100k as well, then here is the difference over 3 years:

To start with £100k saved, at 5% over 3 years will be £116,182.23

A £100k supercar purchase is more like £90k to resell, and depreciation is likely £10k per year, so in 3 years you're going to be getting £60k back.

So you can either take your "cost" over 3 years as £40k or £56k. So for 9,000 miles over those 3 years it's either £4.50 or £6.20 per mile.

Remember that's without any fuel, maintenance, warranty renewal etc. With those included you're probably going to be about the same number on most of the sums on that thread ~ £7.50 per mile.

[DeejRC]

Tom - do you not think that maybe you are sucking all the joy out of the pt of owning the thing?
Do some of you really go thru those kind of mental loops?

[swanseaboydan]

Do it - lovely cars

[Tom-M]

You might be right, but I think it depends on the person and their situation.

I like to know all of this information before I jump in, and I think it's especially important to go in with your eyes wide open if you are someone who is jittery on having a set budget that you really don't want to breach.

I am personally in the market for 2 cars: an m3 touring and something for fun to run along side it that has to be a convertible - highly likely a mclaren like the 600LT or a portofino etc. I could absolutely just go right ahead and buy them right now, but for example losing £40k driving the m3 off the forecourt or only ending up driving the convertible 1k miles per year and ending up losing £50k over 3 years would in both cases sour my ownership experience and so I know I'll be much happier buying when both the time is right ( financially and usage wise ) and when I'm comfortable I'll get a value to usage ratio that I'm happy with out of it.

Everyone is wired differently, so some people will just buy with their heart and that's awesome, or perhaps the money doesn't make a difference - I've just had too many friends who have been very unhappy with car purchases at numbers much smaller than these when they realise how much it costs to run even £100k new cars such as an rs6/m5/range rover because they haven't thought about the realities of running such vehicles.

In summary, OP should go test drive some cars, make peace with the cost and get it purchased

[DeejRC]

Now you see I happen to think anyone who spends £100k on mundane stuff like an Audi estate or BMW saloon absolutely deserves to be made bankrupt and thoroughly laughed at along the way.

[swanseaboydan]

Make sure you have a warranty or extended warranty as gearbox problems are costly on Ferraris- the warranty also covers the expensive and intricate roof folding mechanism

[MDL111]

can't opine on values. I do remember thinking at the time of launch - now that is a good looking car and the first time they got the design on the California-lineage "right". I do not like convertibles and I like metal-roof ones even less, but for some reason I would really like to have a Portofino.

I really think you would not regret buying one and a Ferrari feels much much more special than a Porsche (can't comment on a Lotus, as I never owned one). My GT3RS is lovely to drive and an amazing machine, but my Scuderia felt much more special for a variety of reasons. God I regret selling that and wasting all the proceeds from the sale on my ex-fiancee (stupid stupid idiot....).

In terms of running costs. Generally speaking I would say modern Ferraris are pretty reliable (you can ignore a lot of the warning lights for a lot of the time...). I think on my FF the only thing that went wrong over 90k km is one gearbox seal (not sure what the cost was as it was under extended warranty at the time). I did/do have to replace the brake discs - not because they are at the end of their life (still 50% left), but because the screws/bolts rust a lot when in contact with salt (heating and cooling of brakes plus the corrosive properties of salt are a bad combo). This should not be an issue with a convertible though as I doubt you will drive it on salted/snowy roads...

If you do not need rear seats, then obviously the various 2-seaters in the back catalogue of Ferrari might be a good option. They are a bit more shouty, but probably also even more "sporty/fun" to drive and if they are older, then depreciation might be less of an issue than on one of the modern cars. Something like a 360 manual sounds amazing and I doubt it will lose much value and from a driving perspective it is probably more fun and more than fast enough for today's roads. Personally, I always fancied a black 328 GTS as my open-top car.

Good luck with the decision and enjoy the process!

[Soleith]

DeejRC said:

Tom - do you not think that maybe you are sucking all the joy out of the pt of owning the thing?
Do some of you really go thru those kind of mental loops?

Agree with this. A supercar to me is not a pounds, shilling and pence exercise in cost per mile, it's a "can I afford it and will it put a huge smile on my face?" Depreciation is tomorrow me's problem unless you're literally just planning on keeping it for a year and then attempting to exit and even if that's your plan, suspect after a year of ownership you'd be inclined to keep it.

I've got the Lexus to worry about mpg.

OP, portofino's are lovely things, I was heavily considering one before the Roma came out but I'm not particularly a convertible fan and loved the Roma so much so went with that.

Very few will move now that we're in the winter months I suspect so in all honesty, make an offer. I don't think you'd necessarily get one of the 120k ones for under 100 but I'd be surprised if you couldn't get 10k off. Every day it sits on the forecourt it's costing the dealer money and if most of them won't move until people get the spring cabrio itch, they'll be happy for the business.

[willy wombat]

Going back to the thread title, I think a Portofino at under £100k is going to be a bottom of the market, fairly rough, low spec example. If that is the budget it might be better to buy a really good California.
I have a Portofino which we find compliments our 458 spider very well. We use the Portofino to go places (lots of trips to Europe etc) and the 458 for back roads and tracks. Fingers crossed, I have not had any problems with the Portofino (original warranty expires 31 December this year). I have never used the rear seats except for luggage, for which they are really handy. I also think that when I need new tyres (soon) I will replace the existing Pirellis with Michelins. No idea if this is of any help to you.

[swanseaboydan]

I had a California T and now have a 911 targa gts.
The main difference to me is that going on a long motorway cruise or weekend break, the California t (and hence the portofino ) was so much more roomy and comfortable. Ferraris can do 90 with the top down with very little wind in the cabin. Of yuu rag it through corners like a 911 you will write it off though - it’s a fast cruiser rather than a sports car. Lucky to look at and drive - get one !!

[Honeywell]

Typical. Went for petrol and parked next to a DB11 for the first time I've ever seen one in the flesh. This complicated matters!

I think I need to go and sit in one and a Portofino as a first step.

[swanseaboydan]

I always find the astons seem to age quicker than the Ferraris on a visual level.
However I’m sure their interiors are harder wearing. I’ve seen so many Ferraris that aren’t even 10 years old and the leather is saggy, coming away. Trims flapping around etc etc . .

[Pflanzgarten]

Following the Porto market closely as my best mate is looking at getting into one.

I test drove a late low miles Cali T for him, it didn’t compare. It’s old fashioned and the scuttle shake was atrocious on bad roads.

The Porto is what it is, a whole generation newer and it feels and looks it.

Looking at the values of Cali’s I reckon a circa £100 to £120k Porto isn’t a dangerous financial decision.

[swanseaboydan]

I agree - such a handsome car - easy to drive too. I think the same cars will be available for sale in feb / march as there are now - traders and dealers need to reduce them to move them on now I reckon

[Fast Eddie]

DeejRC said:

Tom - do you not think that maybe you are sucking all the joy out of the pt of owning the thing?
Do some of you really go thru those kind of mental loops?

I have modest means and only own one weekend type car at a time. I have never thought about what it costs to run, nor depreciation nor have I ever taken out an additional warranty.
Perhaps I've just been lucky

[swanseaboydan]

You ve been lucky - used the warranty on both my Ferrari s and they had both done under 12,000 miles

[Boleros]

Honeywell said:

See this appeals to me greatly. I'm just unsure what happens when it hits 7 years and drops out of warranty/servicing. Do the values nosedive?

https://www.autotrader.co.uk/car-details/202310112...

That car was £138,830 in May this year. I know because I got a finance quote on it!

[swanseaboydan]

They really are a good deal though I can’t see them dropping much more in the run up to spring

[ex-devonpaul]

Boleros said:

That car was £138,830 in May this year. I know because I got a finance quote on it!

Wow - that should go in the "Cost to own a 650 for a year" thread. Assuming it sold and the seller has a typical £20k markup someone has lost nearly 40 grand in 6 months.