Do Ferrari's depreciate slower than Porsches?
Discussion
I know you will all say it depends what Ferrari and what Porsche... bla, bla, bla.. but I mean generally as a percentage of initial purchase price.
Just think as a 355 in good condition will go for 50k still where as a 996 in mint spec now seem to be given away for sweet fa.
I dont know if buying a 360 would cost me less in depreciation than keeping my 996 TT?
At the rate 996's are dropping every chav will soon have one and that really worries me as not the image we all want I am sure!
Just think as a 355 in good condition will go for 50k still where as a 996 in mint spec now seem to be given away for sweet fa.
I dont know if buying a 360 would cost me less in depreciation than keeping my 996 TT?
At the rate 996's are dropping every chav will soon have one and that really worries me as not the image we all want I am sure!
360's lose roughly 50% in 5 years, about the same as 996TT's
I guess the question is how much more will they drop. I see 360's and 996TT's dropping a similar amount in the next 2 years, while 355's seem to have been very stable for the last year or so.
You still need over £40k to get an early 996TT in good condition with average mileage, so can't see the chavs getting into them anytime soon. Plus the running costs would make most people's eyes water & put many off.
R.
I guess the question is how much more will they drop. I see 360's and 996TT's dropping a similar amount in the next 2 years, while 355's seem to have been very stable for the last year or so.
You still need over £40k to get an early 996TT in good condition with average mileage, so can't see the chavs getting into them anytime soon. Plus the running costs would make most people's eyes water & put many off.
R.
I would say Ferraris are a different animal to a 996TT...for a start there are probably 15-20% at most the number of 360 to TT on the road and despite the 360 (allegedly) being the best day to day Ferrari to date, if you put on mileage that is not uncommon on a 996 you will get hung drawn and quartered come trade in time.....not really comparing apples with apples in my view.
Year for year IMO Ferrari's hold their price better (% wise relative to new)- however Ferrari resale is much more sensitive to mileage.
Ferrari's that do over 4k miles/annun take a spanking when it comes to selling on. When it come to resale, Joe Public has higher confidence to take on higher mileage Porker - just try selling on a 100k mile Ferrari.
Running costs are also higher for the Ferrari (355/360 )
>> Edited by billybongo on Tuesday 21st March 19:22
Ferrari's that do over 4k miles/annun take a spanking when it comes to selling on. When it come to resale, Joe Public has higher confidence to take on higher mileage Porker - just try selling on a 100k mile Ferrari.
Running costs are also higher for the Ferrari (355/360 )
>> Edited by billybongo on Tuesday 21st March 19:22
It's not fair to compare a high mileage Porsche with a low mileage Ferrari in terms of depreciation - there are no high mileage Ferraris out there.
Ferraris cost a fortune to run and are not everyday supercars despite what anyone claims.
The 355 is widely recognised as an absolute classic and values will remain strong for ever - which is not the same for a 996. New Ferraris typically hold their values exceptionally well until superceeded - 360s have been hit hard by the 430 (far harder than the 996 has been hit by the 997) but 430 prices are still in the sky.
To be honest, it really is like comparing apples and pears. Porsche TTs are everyday, usable, reliable, fantastic, cost-effective supercars - Ferraris are little boys' wet dreams to be used on February 29th but will put a huge smile across your face everytime.
IMHO
Ferraris cost a fortune to run and are not everyday supercars despite what anyone claims.
The 355 is widely recognised as an absolute classic and values will remain strong for ever - which is not the same for a 996. New Ferraris typically hold their values exceptionally well until superceeded - 360s have been hit hard by the 430 (far harder than the 996 has been hit by the 997) but 430 prices are still in the sky.
To be honest, it really is like comparing apples and pears. Porsche TTs are everyday, usable, reliable, fantastic, cost-effective supercars - Ferraris are little boys' wet dreams to be used on February 29th but will put a huge smile across your face everytime.
IMHO
Lambos = buy with your heart, steer clear with your head. They are outrageously expensive to run - ask anyone who runs a fleet (eg. P1).
The biggest trouble is that they are almost unique in that the franchised dealers control the used market virtually exclusively - allowing them to maintain very high buy/sell spreads.
The answer to all of this is get rich and don't think about the cost of toys.
The biggest trouble is that they are almost unique in that the franchised dealers control the used market virtually exclusively - allowing them to maintain very high buy/sell spreads.
The answer to all of this is get rich and don't think about the cost of toys.
You can probably run an old Porsche more cheaply than an old Ferrari, so something like a 15 year old 911 will hold its value better than a 15 year old Ferrari.
Remember the Top Gear thing on £10k Italian supercars? In reality once a Ferrari becomes a money pit it is not worth having, it might as well be £3k or free, it will cost you £3k a year to run. A £10k Porsche is still worth having. Indeed a 968CS will hold its value at about £10k for years.
Remember the Top Gear thing on £10k Italian supercars? In reality once a Ferrari becomes a money pit it is not worth having, it might as well be £3k or free, it will cost you £3k a year to run. A £10k Porsche is still worth having. Indeed a 968CS will hold its value at about £10k for years.
simonrockman said:
Remember the Top Gear thing on £10k Italian supercars? In reality once a Ferrari becomes a money pit it is not worth having, it might as well be £3k or free, it will cost you £3k a year to run. A £10k Porsche is still worth having. Indeed a 968CS will hold its value at about £10k for years.
One of the car mag writters once did a feature about trying to buy a "cheap" Ferrari. He looked at a 1 owner, 10 year old 400. The seller had an well maintained file including all the bills over the 10 year period - they added up to the best part of £100k
Haven't spent a cent on mine yet, and 6k miles per annum is more the acceptable mileage on a modern Ferrari these days. 12k service interval is not too bad for a supercar.
Got a 911 Turbo on order, but its the residuals that bother me the most, but agree you could probably get away with 10k miles to be equivilent.
Got a 911 Turbo on order, but its the residuals that bother me the most, but agree you could probably get away with 10k miles to be equivilent.
los angeles said:
Ferrari's that do over 4k miles/annun take a spanking when it comes to selling on.
Two reasons. They are not daily drives so most people us them for weekends and special occasions only and unless you are filthy rich owners know that to get decent money back on the car they need to keep the mileage down.
My ex-neighbour bought a 360F1 and was told in no uncertain terms by the dealer that unless he wanted to lose his shirt come trade in he needed to keep the mileage low. Cannot remember the exact figures but he told me there are total mileage points at which you see stepping stone drops in value.
Re Ferrari values there are some basic principles:-
1. V8s depreciate much less than V12s whilst in their first 10 - 15 years of life
2. But... Older V12s appreciate more than older V8s
3. 4 seat Ferraris always depreciate more than 2 seaters and usually get absolutely spanked (witness 456 and Mondial)
4. The buy/sell spread for Ferraris is more than it for Porsches (it can be anything up to £10k on a v8 car)
5. Ferraris will always cost more to run than Porsches (especially where you need to extract engines for cambelt changes every 3 years)
6. Beautiful Ferraris depreciate less than ugly ones
7. Mileage kills Ferrari values with big drops once the car hits 30k miles and 50k miles
1. V8s depreciate much less than V12s whilst in their first 10 - 15 years of life
2. But... Older V12s appreciate more than older V8s
3. 4 seat Ferraris always depreciate more than 2 seaters and usually get absolutely spanked (witness 456 and Mondial)
4. The buy/sell spread for Ferraris is more than it for Porsches (it can be anything up to £10k on a v8 car)
5. Ferraris will always cost more to run than Porsches (especially where you need to extract engines for cambelt changes every 3 years)
6. Beautiful Ferraris depreciate less than ugly ones
7. Mileage kills Ferrari values with big drops once the car hits 30k miles and 50k miles
billybongo said:
Year for year IMO Ferrari's hold their price better (% wise relative to new)- however Ferrari resale is much more sensitive to mileage.
Ferrari's that do over 4k miles/annun take a spanking when it comes to selling on. When it come to resale, Joe Public has higher confidence to take on higher mileage Porker - just try selling on a 100k mile Ferrari.
Running costs are also higher for the Ferrari (355/360 )
>> Edited by billybongo on Tuesday 21st March 19:22
BIG QUESTION: can a Ferrari really last 100k miles? Like a Porsche does? Or is it really not an option?
Anyone wanting to sell me a 360 with 100k on the clock, please PM me!
My OPC who sells both Brands Porsche & Ferrari were quite open and honest with me (in as much as they were gonna make money on either car I bought)
They told me that one of the very best running 355's they had ever seen was a chap that had done 60k miles in it from new. Essentially the chap just drove it all over Europe following the racing calendar.
So high mileage is certainly possible infact probably advantageous with one exception... high mileage on a Ferrari is practically unheard of. It is very common to see 355/360 with 5 or 6 owners and less than 15k miles.
I have always leaned towards caution and bought the 911 (4 times now) but would love a Ferrari... but I love to drive... and whilst doing 24k miles in 18 months is 'sort of OK' in a 996... it would be financial suicide in a 360.
I agree with someone else on here.... if money was not an issue I would definitely own one... maybe then I would really find out what Ferrari Ownership was all about... and maybe it would not meet my expectations.... Who knows?
They told me that one of the very best running 355's they had ever seen was a chap that had done 60k miles in it from new. Essentially the chap just drove it all over Europe following the racing calendar.
So high mileage is certainly possible infact probably advantageous with one exception... high mileage on a Ferrari is practically unheard of. It is very common to see 355/360 with 5 or 6 owners and less than 15k miles.
I have always leaned towards caution and bought the 911 (4 times now) but would love a Ferrari... but I love to drive... and whilst doing 24k miles in 18 months is 'sort of OK' in a 996... it would be financial suicide in a 360.
I agree with someone else on here.... if money was not an issue I would definitely own one... maybe then I would really find out what Ferrari Ownership was all about... and maybe it would not meet my expectations.... Who knows?
turboguru said:
I know you will all say it depends what Ferrari and what Porsche... bla, bla, bla.. but I mean generally as a percentage of initial purchase price.
Just think as a 355 in good condition will go for 50k still where as a 996 in mint spec now seem to be given away for sweet fa.
I dont know if buying a 360 would cost me less in depreciation than keeping my 996 TT?
At the rate 996's are dropping every chav will soon have one and that really worries me as not the image we all want I am sure!
Not sure but it will cost you a whole lot more to keep a 355 on the road . . When it actually running that is..
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