Running a Ferrari V12 isn’t that expensive

Running a Ferrari V12 isn’t that expensive

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Discussion

Esceptico

Original Poster:

5,865 posts

89 months

Friday 18th February
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https://youtu.be/2kenpQddcfU

I watched this video expecting horrific numbers but came away with the opposite impression, that running a (older) Ferrari V12 isn’t that ruinous. Yes there was one very big bill but averaged out over the life of the car it was under £3k per year. As long as don’t buy new and so avoid the biggest (or only) depreciation £3k is nothing in the scheme of things. I’m sure if you buy a newer, much cheaper car you can easily suffer a total cost (with depreciation) of more than £3k a year and wouldn’t you rather have a Ferrari V12 as your second, weekend car?

To make it work you probably need a fair amount of spare cash to be able to fund the odd big bill and it helps if you own the car over a long period to even out costs, offsetting the years when you get away with just a minor service with those big bills for more expensive maintenance.

donkmeister

5,406 posts

80 months

Friday 18th February
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Not too bad.

Things like booze and fags can easily cost £3k a year for each (I'd imagine illicit drugs can be orders of magnitude more), I'd rather have a Ferrari!

Drl22

625 posts

45 months

Friday 18th February
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lol, I’ll admit I haven’t watched the video but I know I pay £130 to fill the tank of mine every 10 days or so. On that basis alone the number is way out!

Edited by Drl22 on Friday 18th February 22:40

kambites

64,848 posts

201 months

Friday 18th February
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I guess the problem isn't so much that the average cost is high as that the potential maximum cost is so ruinous. Most people would have a problem with running a car which they simply couldn't afford to fix if it went very wrong, even if that's pretty unlikely to happen.

to3m

1,165 posts

150 months

Saturday 19th February
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MDL111

6,370 posts

157 months

Saturday 19th February
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3k would be nice, my insurance was 5.5k pa until I switched to third-party only last year.
Although I do think 3k excl insurance and petrol should be possible on average if you don’t drive too much (say not substantially more than 10k km per year, as that should give you plenty of years until the engine or box need to be rebuilt)

donkmeister

5,406 posts

80 months

Sunday 20th February
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Drl22 said:
lol, I’ll admit I haven’t watched the video but I know I pay £130 to fill the tank of mine every 10 days or so. On that basis alone the number is way out!

Edited by Drl22 on Friday 18th February 22:40
The £3k figure is maintenance. I couldn't watch much of the video (and I enjoy a lot of very boring stuff on YouTube so that's saying something) but it's not the entire running costs.

DevonPaul

817 posts

117 months

Sunday 20th February
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Your saving on depreciation, but spending on maintenance.

Man maths.....

A 6 year old maser will cost a lot more to buy and run than a 6 year old Mondeo. But a £30k Ghibli probaly won't be any more expensive over 5 years than a £30k Mondeo smile

Dr Jekyll

22,974 posts

241 months

Sunday 20th February
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The difference is that if you need to find several thousand pounds to get the car on the road you have a major problem. If you check car prices and find your car is worth several thousand less than last year, that's depressing but only a paper problem when you come to sell.

blueSL

567 posts

206 months

Sunday 20th February
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I found the video really annoying, he revealed each major bill as if our jaws should hit the deck in amazement.

Actually, I thought the costs were pretty reasonable given the original values of the cars. V12s do seem to depreciate more, presumably because buyers generally are scared off by the rumoured maintenance expense.

I don’t do extended warranties and mentally set aside 3% of the original cost for all my cars per year rolling forward the unspent money and pooling across my cars in anticipation of The Big One. Over many years of doing this, I am well ahead. If my 488, whose 4 year warranty expires in 2 weeks, decided to have a hissy fit and need a new gearbox, it would not be the end of the world.

I’m quite sure that a similar analysis for Aston Martin, McLaren and Lamborghini would yield similar or worse costs.

andrew

9,539 posts

172 months

Sunday 20th February
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blueSL said:
I found the video really annoying, he revealed each major bill as if our jaws should hit the deck in amazement.

Actually, I thought the costs were pretty reasonable given the original values of the cars. V12s do seem to depreciate more, presumably because buyers generally are scared off by the rumoured maintenance expense.

I don’t do extended warranties and mentally set aside 3% of the original cost for all my cars per year rolling forward the unspent money and pooling across my cars in anticipation of The Big One. Over many years of doing this, I am well ahead. If my 488, whose 4 year warranty expires in 2 weeks, decided to have a hissy fit and need a new gearbox, it would not be the end of the world.

I’m quite sure that a similar analysis for Aston Martin, McLaren and Lamborghini would yield similar or worse costs.
i do something similar and am also well ahead
i also take the view that even the worst bill i've ever had is less than the "drive it off the forecourt" instant depreciation on a new car ( in more normal times ! )

fflump

684 posts

18 months

Thursday 24th February
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blueSL said:
I found the video really annoying, he revealed each major bill as if our jaws should hit the deck in amazement.

Actually, I thought the costs were pretty reasonable given the original values of the cars. V12s do seem to depreciate more, presumably because buyers generally are scared off by the rumoured maintenance expense.

I don’t do extended warranties and mentally set aside 3% of the original cost for all my cars per year rolling forward the unspent money and pooling across my cars in anticipation of The Big One. Over many years of doing this, I am well ahead. If my 488, whose 4 year warranty expires in 2 weeks, decided to have a hissy fit and need a new gearbox, it would not be the end of the world.

I’m quite sure that a similar analysis for Aston Martin, McLaren and Lamborghini would yield similar or worse costs.
There is little reason why having 4 more cylinders will result in higher maintenance unless you're replacing coil packs etc which are hardly a main contributor to running a V12 Ferrari. I don't think that is the reason V12 Ferraris depreciate more, rather it is that 2+2 Ferrari GTs depreciate faster than 2 seaters, and 2 seater Ferrari GTs depreciate faster than mid-engined Ferrari sports cars. Just so happens this correlates with cylinder number.

67Dino

3,161 posts

85 months

Thursday 24th February
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Do think this is rather missing the point. The challenge with a Ferrari, especially a V12, is that they can quite easily throw a £5-10k+ bill at you, and in rarer but not totally uncommon cases, £20k+. That might not happen, sure, but if you buy one you need to know that’s a possibility.

Saying you can run a Ferrari on £3k a year is a bit like saying you can safely walk a plank between two tall buildings. You can, but you shouldn’t be making your choice on the basis of the upside scenario.

Bispal

1,217 posts

131 months

Friday 25th February
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67Dino said:
Do think this is rather missing the point. The challenge with a Ferrari, especially a V12, is that they can quite easily throw a £5-10k+ bill at you, and in rarer but not totally uncommon cases, £20k+. That might not happen, sure, but if you buy one you need to know that’s a possibility.

Saying you can run a Ferrari on £3k a year is a bit like saying you can safely walk a plank between two tall buildings. You can, but you shouldn’t be making your choice on the basis of the upside scenario.
That's an excellent point well made.

I would add if owners don't want to spend money on a car they are possibly not that into it. A largish bill on a car I cherish never seems to bother me but even a small bill on a car I am not too bothered about I find very annoying. Its a good way of knowing if you truly like your car.


DeejRC

3,943 posts

62 months

Friday 25th February
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It’s the reason (ok a part of the reason) I argued with myself that an F12 under the 7yr Ferrari deal would be “cheaper” than an older F12 or a 599. I was absolutely sure a big bill would be thrown at me.

jayemm89

3,498 posts

110 months

Thursday 3rd March
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That's my car in the video and I'm happy to answer any questions I can...

Jules360

1,944 posts

182 months

Friday 4th March
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DeejRC said:
It’s the reason (ok a part of the reason) I argued with myself that an F12 under the 7yr Ferrari deal would be “cheaper” than an older F12 or a 599. I was absolutely sure a big bill would be thrown at me.
The Ferrari 7 year deal just covers routine maintenance, which isn't much if just a couple of years left. I don't see how that helps with unexpected bills.

DeejRC

3,943 posts

62 months

Friday 4th March
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Because unexpected bills are a lot less likely to happen on a 5yo car than 10+ yo car in my expensive experience!

f1ten

2,077 posts

133 months

Monday 28th March
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Very true.
I'm still not sure if the dual clutch box in f12 and 458 can be properly taken apart and repaired.

My ferrari mechanic had an early. California in 18 months ago and was telling the guy it was 20k to sort. The car wouldn't have been worth more than 70k so yes that would be a pretty serious bill.
Meanwhile my ferrari main dealer was telling me that non ferrari replacement ceramic brakes won't work as they need calibrated to the software. Whether this is correct. Or not I don't know but again circa 12k for replacement is not a minor issue.
I dropped out of the power warrenty for age and cost reasons and like many am self Insuring! Some years are bad some are OK... All I can say is that people owning one for 12 months don't have a clue about ownership costs.

Bispal said:
67Dino said:
Do think this is rather missing the point. The challenge with a Ferrari, especially a V12, is that they can quite easily throw a £5-10k+ bill at you, and in rarer but not totally uncommon cases, £20k+. That might not happen, sure, but if you buy one you need to know that’s a possibility.

Saying you can run a Ferrari on £3k a year is a bit like saying you can safely walk a plank between two tall buildings. You can, but you shouldn’t be making your choice on the basis of the upside scenario.
That's an excellent point well made.

I would add if owners don't want to spend money on a car they are possibly not that into it. A largish bill on a car I cherish never seems to bother me but even a small bill on a car I am not too bothered about I find very annoying. Its a good way of knowing if you truly like your car.

Mr Spoon

1,978 posts

18 months

Monday 28th March
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Any thoughts on spannering yourself?