355 spider purchase then quick sale depreciation

[CraigW]

All,

Does anyone have an opinion on what sort of hit one would take on buying a 355 spider circa £45k, using it for a 2week trip and maybe a month on top then selling it, effectively adding probably 3000 miles?

Thx

[CUE99T]

Probably cost ya 5k.

TBH doesn't sound an easy deal, but will depend on the purchase price compared to what the selling price is, ie is the car a trade/private or retail purchase?

[andy355]

if you got lucky with your purchase price (and sale price) it could be zero ish, epecially if you bought at winter money and sold at spring/summer. that would assume that you were not in a hurry to sell, selling a ferrari can take time.
or other scenario, you end up paying too much to start with, you borrowed the money from the bank and then eventually sell to trade. 10 to 15k loss.

[phib]

or if you are buying a red and cream one ( and its a good one) I probably could help, as I have been looking for for while and would be interested in buying at a slightly reduced price agreed with you before you bought it ?

I cant buy for a month ish as I am waiting for my garages to be built hence why it might work, drop me a mail if you are interested

[Webber3]

3,000 mile is the best part of a years mileage on that car. I don't think you'd lose any more than 5k though, as the prices seem to have stabilised for this car now. If you can do a good deal whilst buying the car and you're not desperate to sell when the time comes. I think you could half that figure.

[burriana]

Webber3 said:

3,000 mile is the best part of a years mileage on that car.

Only for the daft buggers that don't drive them, of which sadly there are many ... I put 3,500 on my Spider in the first three weeks of having it!

I don't think that the mileage will damage it Craig, simply whether you can find a buyer when you want one. Some people may be suspect as to why you have only had it six weeks, but then you can show them this thread to prove fore planning ... some more sensible people may look at it as if you have just done 3000 miles without trouble (assuming you have) then it should be ok.

Going anywhere nice mate?

[sjn2004]

CraigW said:

All,

Does anyone have an opinion on what sort of hit one would take on buying a 355 spider circa £45k, using it for a 2week trip and maybe a month on top then selling it, effectively adding probably 3000 miles?

Thx

Gumball "3000" maybe?

[Jonty99]

If its a spider, buy now, sell in the summer.

[CraigW]

thanks guys,I'd figured on 5k, south of france for a wedding. The bbiiiiiigggg problem is,i will want to keep it at the end soooo badly.

[tricky 100]

If you want something flash to turn up in at the wedding and its only going to be for a couple of weeks , why not look into hiring something , surely you could find something if your prepared to spend 5k . That way you won't have to wait 6 months for a buyer .

[CraigW]

nah not bothered about turning up in it, more the driving down bit but hiring may be another option.

[Otter's pocket]

what about P1 or Ecurie 21 (or whatever they're called)
Cost are c. 10k, but your trip would probably only blow half your allocation. plus youd be in a newer/flasher/better (?) car than the 355, AND youd have the rest of the year to use you remainign allocation.
Also no insurace, running costs etc etc.
That's what I'd do that is- yup.

[Ade355]

If you are patient enough to wait the 6 months it will take to sell at a decent price, then you might get away with a 3-4K hit. Selling privately will save you money but it is not quick and everything has to be SPOT on (IME). If you sell on SOR, commission alone is going to be 3-4K.

Whichever way you look at it 5K+ if you want to sell quickly , unless you are very lucky.

Edited by Ade355 on Tuesday 15th January 10:45

[Redwing]

Be Careful! The guy who bought my 355 spider in 2004 only wanted it for six weeks to tour round europe! He has of course still got it!

[madras]

CraigW said:

All,

Does anyone have an opinion on what sort of hit one would take on buying a 355 spider circa £45k, using it for a 2week trip and maybe a month on top then selling it, effectively adding probably 3000 miles?

Thx

To answer your original question it really depends on the mileage of the car you buy. Buying a higer mileage car will of course result in less depreciation, but I'd think you'd be looking at about £3000 depreciation on a £40-45k car with say 25-35kmiles on it already.

Remember though 3000miles is quite few miles and you can expect to get at minimum some basic service costs in there of about £500 unless it's fully serviced up when you buy (pay a premium and it wont be when you sell), or will need some service work. That's in addition to anything that might go wrong in 3000miles which could amount to £500 or £2500. It could be expensive, it could be a real good deal it just depends on the quality of the car you buy and what you pay for it and how lucky you are during your 3000miles of ownership. I'd say best case zero depreciation, maybe even make a bit and *at least* £500-£1000 on some bits. Worse case could be £10k even buying right car and just being unlucky. Hiring would take the risk out of it and give you a fixed price, would still cost a lot for 3000miles in a 355 though! don't they charge like £2 a mile?

[BrendonJ]

Craig there was a thread about a month ago where a few of us 355 owners estimated the cost per mile (including all running costs and depreciation) was approx £1.50 per mile so factoring in a quick sale £5k sounds about right.

Mind you if you let me run with no mufflers again at Vmax I'll let you take mine for a blat around the vmax track a few times for free