What will they be worth?
Discussion
I'm thinking about changing my car and I'm trying to work out the likely value of the different cars in two or three years time.
The options are Ferrari 360 2001, Ferrari 550 2001 and Porsche Turbo 2002/3. All of the cars cost about £85K and have 10,000 or less miles. I'm likely to do 10,000 miles a year.
I've got my own ideas but I might have my rose tinted glasses on!
What does everyone think?
The options are Ferrari 360 2001, Ferrari 550 2001 and Porsche Turbo 2002/3. All of the cars cost about £85K and have 10,000 or less miles. I'm likely to do 10,000 miles a year.
I've got my own ideas but I might have my rose tinted glasses on!
What does everyone think?
AlexHancock said:
I'm thinking about changing my car and I'm trying to work out the likely value of the different cars in two or three years time.
The options are Ferrari 360 2001, Ferrari 550 2001 and Porsche Turbo 2002/3. All of the cars cost about £85K and have 10,000 or less miles. I'm likely to do 10,000 miles a year.
I've got my own ideas but I might have my rose tinted glasses on!
What does everyone think?
Alex,
Not a lot of help...
I would think the Porker would be best,followed closly by the 360,with the 550 some way behind.No figures I'm afraid.
Steve
I think Kevin (456mgt) put it best when he said 360's depreciate linearly over a period of time where as the V12s depreciate rapidly then settle after a few years.
With these 3 cars at this sort of £level though I wouldn't worry about depreciation. The big drop on the 550 will have already occured and you are going to loose £8/10k per year which ever one you pick. Drive all three cars and then make your choice. They are all very high performance cars but they are different to drive.
DAZ
>> Edited by dazren on Friday 19th December 11:16
With these 3 cars at this sort of £level though I wouldn't worry about depreciation. The big drop on the 550 will have already occured and you are going to loose £8/10k per year which ever one you pick. Drive all three cars and then make your choice. They are all very high performance cars but they are different to drive.
DAZ
>> Edited by dazren on Friday 19th December 11:16
The factor you have to take into account with these cars is the amount of mileage you are going to be doing.
The Ferrari's (particularly the 360) are VERY mileage sensitive & that will greatly affect your depreciation projections, also the Fezza's are MUCH more expensive to run. The other factor is whether you are buying from a dealer or privately....dealers will have around 10%-ish in these cars & you will loose this the second you drive out the showroom. If you are doing 10k miles pa
& buying from a dealer I think you will loose around £15k on the Porker & around £25k on the Fezza's over two years. If you only do a very few miles each year then the Ferrari's will probably hold their value better than a Porker at that price point !
As a turbo owner I am biased, but I have to say the pull of the Ferrari badge is tempting if you do low miles, it would be nice to have owned one ! Why not post for charlie360 to input to this as he has owned both.
The Ferrari's (particularly the 360) are VERY mileage sensitive & that will greatly affect your depreciation projections, also the Fezza's are MUCH more expensive to run. The other factor is whether you are buying from a dealer or privately....dealers will have around 10%-ish in these cars & you will loose this the second you drive out the showroom. If you are doing 10k miles pa
& buying from a dealer I think you will loose around £15k on the Porker & around £25k on the Fezza's over two years. If you only do a very few miles each year then the Ferrari's will probably hold their value better than a Porker at that price point !
As a turbo owner I am biased, but I have to say the pull of the Ferrari badge is tempting if you do low miles, it would be nice to have owned one ! Why not post for charlie360 to input to this as he has owned both.
Alex,
Before I bought my 996TT, I spoke to Maranello's who advised me that I could expect to lose c £25k on a used 550 over 12 months. Also, the servicing costs for a Ferrari are at least double that of the Porsche. I haven't driven a 360, but did try a 550. Nice car, but heavier to drive, slower and doesn't handle as well as the 996.
Hope this helps,
Dave
Before I bought my 996TT, I spoke to Maranello's who advised me that I could expect to lose c £25k on a used 550 over 12 months. Also, the servicing costs for a Ferrari are at least double that of the Porsche. I haven't driven a 360, but did try a 550. Nice car, but heavier to drive, slower and doesn't handle as well as the 996.
Hope this helps,
Dave
Thanks for the constructive replies.
Having driven 2 996 Turbos, a 360 Spider and a 550 I've decided to go for a 996 Turbo. I was expecting to feel unmoved by the Porsche and won over by the Ferraris but the Porsche was more sporty and just as much character. I was going to look for a manual car but I've just driven a 450 bhp Tiptronic and was very impressed. I should be in a position to buy it early next month.
Thanks again for the help.
Having driven 2 996 Turbos, a 360 Spider and a 550 I've decided to go for a 996 Turbo. I was expecting to feel unmoved by the Porsche and won over by the Ferraris but the Porsche was more sporty and just as much character. I was going to look for a manual car but I've just driven a 450 bhp Tiptronic and was very impressed. I should be in a position to buy it early next month.
Thanks again for the help.
Congratulations, you know it makes sense.
The only thing I would say is MAKE SURE YOU TRY THE MANUAL first. It's the better drivers car, with an extra gear(2nd is a fairground ride on the manual, but less so on the Tip) & more interaction & control. But if you still prefer the Tip great, with 450bhp who'll miss the odd gear.Let us know how you get on.
The only thing I would say is MAKE SURE YOU TRY THE MANUAL first. It's the better drivers car, with an extra gear(2nd is a fairground ride on the manual, but less so on the Tip) & more interaction & control. But if you still prefer the Tip great, with 450bhp who'll miss the odd gear.Let us know how you get on.
I tried the manual first and only drove the tip because it had the power increase. The last time I drove a tip I hated it as it made the car more of a GT than a sportscar. But with the turbo it doesn't seem to take much away and would make the North Circular, etc. much easier to put up with. It's going to be hard to decide which to go for.
I'm looking for another car capable of everyday use around London, unstressful cruise to client sites, fun trips to Spain & Italy for two in Summer & Winter and the odd spin around the 'ring. I thought the Porsche would be the best solution but as I've always wanted a Ferrari I thought I'd check them out as well.
I expected the Ferraris to be very exciting and make me want to ignore the high maintenance costs. I didn't think the 360 would be a good everyday car but I prefer my cars to be sportier than GT and so needed to try it.
The 360 Spider was very well built and insulated - you could hear the engine but road noise wasn't as bad as other soft tops I've driven. It was very easy to drive and although I'm sure it can be a handful on the limit I didn't find it very involving. A Tubi would help and I still love the idea of driving one along the costal roads in Italy but I'm now wondering whether a 355 would be a better option for this type of Ferrari- I need to drive one to find out! Also, I couldn't really imagine using it to go to the shops (unless it was Bond St.) without feeling very self-conscious.
The 550 was very similar to my 3200 just more. Again, very well built, elegant, refined but with huge torque and power. The 3200 is fantastic on fast, wide roads above 100 mph but the 550 would be amazing. However, it was too easy and not very exciting. It’s a great car and if the maintenance was around Porsche levels I might be more tempted.
The 996 Turbos were just as well built but felt much sportier. This feeling is created by harder suspension, more noise and an intimate cabin. They were still easy to drive so probably not the challenge that earlier Porsches were and the 4wd inspires confidence that you don’t get with the Ferraris or the Maserati. I could keep my foot planted in fast bends where in the Italian cars I’d be ready to try and control the rear. I was very impressed and could see myself it everyday, as a GT but also a sports car. Low(ish) maintenance costs also help to justify it. The only thing that it doesn’t do better (in by opinion) is that special feeling that a Ferrari gives off but that’s all in the mind and could disappear after a £2.5K bill or two.
Generally, I think Ferrari has made their cars too accessible. One of the ways I can justify (to myself) spending so much money on a car is that it’s more than just a good car. It has to feel alive, it needs to be tamed, it needs to be hard to drive well and so I need to work harder. I suspect that to buy the Ferrari of my childhood dreams I need to buy an older car but that can only happen when I have the space for a 2nd or 3rd car. I think the Porsche is now the more challenging sports car and I hope that they stay that way.
My decision to buy a Porsche has been easier than I thought but that doesn’t mean that I don’t find myself questioning myself – ‘Are you sure you shouldn’t buy a Ferrari’ or ‘The Maserati’s so good, why change it?’. I hope I win the lottery this week then I can have all of them!
I expected the Ferraris to be very exciting and make me want to ignore the high maintenance costs. I didn't think the 360 would be a good everyday car but I prefer my cars to be sportier than GT and so needed to try it.
The 360 Spider was very well built and insulated - you could hear the engine but road noise wasn't as bad as other soft tops I've driven. It was very easy to drive and although I'm sure it can be a handful on the limit I didn't find it very involving. A Tubi would help and I still love the idea of driving one along the costal roads in Italy but I'm now wondering whether a 355 would be a better option for this type of Ferrari- I need to drive one to find out! Also, I couldn't really imagine using it to go to the shops (unless it was Bond St.) without feeling very self-conscious.
The 550 was very similar to my 3200 just more. Again, very well built, elegant, refined but with huge torque and power. The 3200 is fantastic on fast, wide roads above 100 mph but the 550 would be amazing. However, it was too easy and not very exciting. It’s a great car and if the maintenance was around Porsche levels I might be more tempted.
The 996 Turbos were just as well built but felt much sportier. This feeling is created by harder suspension, more noise and an intimate cabin. They were still easy to drive so probably not the challenge that earlier Porsches were and the 4wd inspires confidence that you don’t get with the Ferraris or the Maserati. I could keep my foot planted in fast bends where in the Italian cars I’d be ready to try and control the rear. I was very impressed and could see myself it everyday, as a GT but also a sports car. Low(ish) maintenance costs also help to justify it. The only thing that it doesn’t do better (in by opinion) is that special feeling that a Ferrari gives off but that’s all in the mind and could disappear after a £2.5K bill or two.
Generally, I think Ferrari has made their cars too accessible. One of the ways I can justify (to myself) spending so much money on a car is that it’s more than just a good car. It has to feel alive, it needs to be tamed, it needs to be hard to drive well and so I need to work harder. I suspect that to buy the Ferrari of my childhood dreams I need to buy an older car but that can only happen when I have the space for a 2nd or 3rd car. I think the Porsche is now the more challenging sports car and I hope that they stay that way.
My decision to buy a Porsche has been easier than I thought but that doesn’t mean that I don’t find myself questioning myself – ‘Are you sure you shouldn’t buy a Ferrari’ or ‘The Maserati’s so good, why change it?’. I hope I win the lottery this week then I can have all of them!
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