458 purchase - complete noob and need expert advice
Discussion
Ferrari - PistonHeads
Hello
Feels very odd writing this, but through a variety of circumstances I’m about to come into some money which wasn’t planned in any way. Just waiting on the final confirmation in the next two weeks.
My original plan was to dump it all straight into our mortgage and be very boring. But having spoken to our mortgage company, I’d forgotten that we can only put in a certain amount in a lump sum in each year, we only recently tied in for 5 years, so suddenly I’m going to be sat on a rather large pile of cash...
So my thought process is this. I’d like to buy and run an awesome car for 1-2 years. You only live once and all that.
Semi justifiable. We have no plans to move, have use of other cars which are paid off, kids are miles away from private school fees (5 and 3), job is pretty secure and going well. I don’t mind losing a bit of money, but not catastrophic amounts. Plus I don’t won’t be to a balding old bloke in a flash car (no offence intended, I’ve just started on that path myself!). I’ve even convinced my wife that this isn’t a terrible idea and she has told me to go away and do the sums and she is opening to listening.
I drew up a shortlist of cars based on the following criteria:
1. Established premium brand w/ good residuals
2. Has approved used programme (for warranty - want to avoid any massive bills)
3. V8/V10/V12
4. N/A
5. Manual (as a preference)
6. Coupe (don’t like convertibles)
7. Budget between £75k and £200k
8. Model with minimal depreciation potential (flat or appreciating preferred)
9. ‘Last of the line’ preference (worked in the industry and know the last models have always got everything as good as it can be)
I narrowed it down to late model AM V12 Vantage S with dogleg manual and the AM DBS, as well as the last generation Audi R8 V10, a Honda NSX-R (likely imported from Japan), or perhaps a Cayman GT4 or 911 GT3 RS (assume 997 Gen2). But...
I can’t get the 458 Italia out of my head. It’s my dream car. Although I’d prefer a manual, I do live in London and have a DSG car now and I really don’t mind it at all. Otherwise, it ticks all the boxes and then some.
But I don’t know where to start. I’ve got a few questions and wasn’t really sure if this was the best place to ask them, but Ferrari Chat forum didn’t seem that busy. Thanks in advance if anyone can help.
Model year changes
It seems like 2012 onwards got some software changes (which could be retrofitted as an option to earlier cars) as well as 7 year service pack. Plus understand there were some recalls for earlier cars. My local Ferrari dealer mentioned some 2013 updates to the satnav as well.
Does anyone have a definitive list of MY changes, even minor ones? Or where I could get the list from? Dealer didn’t have a full list.
On that basis, I’m only looking at 2013 and newer models, preferably from an official Ferrari dealer.
Colour / Interior / Options
From a resale perspective, I’m only looking at Rosso Corsa and then black or tan leather.
For options, my local Ferrari dealer said ‘shields and upgrade wheels’ are must haves. Any other recommendations that people can’t live without?
Tech
Does boring stuff like Bluetooth streaming of Spotify via an iPhone 8/X work? Or I do need to buy something else / modify the car to enable this? Assume no chance of Apple Play! Was planning on clipping on phone to a vent and using Waze as it is so good.
Exhaust
I’ve heard Capriso do a remote valve opener - will dealers fit this / will it invalidate the warranty?
Finance
If I put down £75k, it’s roughly £500 a month (dealer quote, rate around 8%, but no guaranteed value). Are there any specialists for high end car finance?
I’ve been recommended Oracle, JBR and the dealer’s own finance. Is there anyone else I should look at? Or other ways I could finance it?
Insurance
I’ve heard about £2.5k to £3k for 5000 miles per year. My plan was to speak to Adrian Flux, but am I missing a trick? Are there any Ferrari insurance specialists I should speak to?
Depreciation
I’m a bit nervous of what might happen in March 2019...but I can’t think of a (relatively) safer place to put my car cash than the last mid engined, N/A Ferrari that is recognised as one of their best ever (Speciale accepted but that is beyond my budget). I’m naively assuming if you can afford a Ferrari the recession isn’t going to hit you that badly, but perhaps this only applies to new models.
I’m budgeting for a 5-10% loss over 1 year. If anyone has a crystal ball, I’d love some opinions because I don’t have a clue what might happen! Looking to keep for 1 year from end of March, perhaps 2. Also - what might be the best way to sell it, sale or return specialist, back to dealer, or on the wonderful PistonHeads classifieds itself.
Servicing
Was planning to get this done at my local dealer (Maranello Egham). Is this the best route? Or are specialists are better option?
I’ve budgeted £2k per year. A 2013 MY will get me minimum 2 years of 7 year service policy.
Other stuff & costs
What is it actually like to have one? Is there anything else I need to budget for? I’m planning on putting £10k aside for a ‘just in case’ budget.
Assume I’m going to have to invest in some special stuff to keep it clean (rather than usual jet wash on family SUV). Where do you park one so it doesn’t get dinged? Do most people buy paint protection wraps (and where from)?
I think that is about everything. Thanks again if anyone can help!
Hello
Feels very odd writing this, but through a variety of circumstances I’m about to come into some money which wasn’t planned in any way. Just waiting on the final confirmation in the next two weeks.
My original plan was to dump it all straight into our mortgage and be very boring. But having spoken to our mortgage company, I’d forgotten that we can only put in a certain amount in a lump sum in each year, we only recently tied in for 5 years, so suddenly I’m going to be sat on a rather large pile of cash...
So my thought process is this. I’d like to buy and run an awesome car for 1-2 years. You only live once and all that.
Semi justifiable. We have no plans to move, have use of other cars which are paid off, kids are miles away from private school fees (5 and 3), job is pretty secure and going well. I don’t mind losing a bit of money, but not catastrophic amounts. Plus I don’t won’t be to a balding old bloke in a flash car (no offence intended, I’ve just started on that path myself!). I’ve even convinced my wife that this isn’t a terrible idea and she has told me to go away and do the sums and she is opening to listening.
I drew up a shortlist of cars based on the following criteria:
1. Established premium brand w/ good residuals
2. Has approved used programme (for warranty - want to avoid any massive bills)
3. V8/V10/V12
4. N/A
5. Manual (as a preference)
6. Coupe (don’t like convertibles)
7. Budget between £75k and £200k
8. Model with minimal depreciation potential (flat or appreciating preferred)
9. ‘Last of the line’ preference (worked in the industry and know the last models have always got everything as good as it can be)
I narrowed it down to late model AM V12 Vantage S with dogleg manual and the AM DBS, as well as the last generation Audi R8 V10, a Honda NSX-R (likely imported from Japan), or perhaps a Cayman GT4 or 911 GT3 RS (assume 997 Gen2). But...
I can’t get the 458 Italia out of my head. It’s my dream car. Although I’d prefer a manual, I do live in London and have a DSG car now and I really don’t mind it at all. Otherwise, it ticks all the boxes and then some.
But I don’t know where to start. I’ve got a few questions and wasn’t really sure if this was the best place to ask them, but Ferrari Chat forum didn’t seem that busy. Thanks in advance if anyone can help.
Model year changes
It seems like 2012 onwards got some software changes (which could be retrofitted as an option to earlier cars) as well as 7 year service pack. Plus understand there were some recalls for earlier cars. My local Ferrari dealer mentioned some 2013 updates to the satnav as well.
Does anyone have a definitive list of MY changes, even minor ones? Or where I could get the list from? Dealer didn’t have a full list.
On that basis, I’m only looking at 2013 and newer models, preferably from an official Ferrari dealer.
Colour / Interior / Options
From a resale perspective, I’m only looking at Rosso Corsa and then black or tan leather.
For options, my local Ferrari dealer said ‘shields and upgrade wheels’ are must haves. Any other recommendations that people can’t live without?
Tech
Does boring stuff like Bluetooth streaming of Spotify via an iPhone 8/X work? Or I do need to buy something else / modify the car to enable this? Assume no chance of Apple Play! Was planning on clipping on phone to a vent and using Waze as it is so good.
Exhaust
I’ve heard Capriso do a remote valve opener - will dealers fit this / will it invalidate the warranty?
Finance
If I put down £75k, it’s roughly £500 a month (dealer quote, rate around 8%, but no guaranteed value). Are there any specialists for high end car finance?
I’ve been recommended Oracle, JBR and the dealer’s own finance. Is there anyone else I should look at? Or other ways I could finance it?
Insurance
I’ve heard about £2.5k to £3k for 5000 miles per year. My plan was to speak to Adrian Flux, but am I missing a trick? Are there any Ferrari insurance specialists I should speak to?
Depreciation
I’m a bit nervous of what might happen in March 2019...but I can’t think of a (relatively) safer place to put my car cash than the last mid engined, N/A Ferrari that is recognised as one of their best ever (Speciale accepted but that is beyond my budget). I’m naively assuming if you can afford a Ferrari the recession isn’t going to hit you that badly, but perhaps this only applies to new models.
I’m budgeting for a 5-10% loss over 1 year. If anyone has a crystal ball, I’d love some opinions because I don’t have a clue what might happen! Looking to keep for 1 year from end of March, perhaps 2. Also - what might be the best way to sell it, sale or return specialist, back to dealer, or on the wonderful PistonHeads classifieds itself.
Servicing
Was planning to get this done at my local dealer (Maranello Egham). Is this the best route? Or are specialists are better option?
I’ve budgeted £2k per year. A 2013 MY will get me minimum 2 years of 7 year service policy.
Other stuff & costs
What is it actually like to have one? Is there anything else I need to budget for? I’m planning on putting £10k aside for a ‘just in case’ budget.
Assume I’m going to have to invest in some special stuff to keep it clean (rather than usual jet wash on family SUV). Where do you park one so it doesn’t get dinged? Do most people buy paint protection wraps (and where from)?
I think that is about everything. Thanks again if anyone can help!
andyvdg said:
It looks like you've got your head screwed on. 458 is a good choice - if you can't stop thinking about it - go test drive - but only if you're happy to buy because you won't be able to stop yourself. Assume £20k dealer trade-in to retail price difference aka you'll lose £20k + whatever depreciation happens over 2 years. Your guess is as good as anyone else what that will be. But you'll forget all that when you're driving it! Have fun!
Really interesting. I’m wondering if I’ve had a different experience. I ran a BMW M6 I bought from a dealer for a couple of years, and the car appreciated over that period and cost me very little overall to run, literally just running costs. I sold it for a good chunk more than I paid for it straight to someone else. So we are saying here (if I have this right), a £160k 2013 458 at an official dealer, when I come to sell in 1-2 years time, I will lose £20k (down to £140k), and then I’d say 10% depreciation each year, so £16k each year.
So at end of year one, i would only be able to sell it for £124k, and end of year two, £108k?
Never had to do the maths at this level!
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