458 v 488 market
Discussion
DeejRC said:
What do ppl call a “good spec” though, and/or consider good options? I suspect my ideas may differ to many of you.
Carbon everything for instance is horrific to me. Racing bucket seats likewise.
When I got mine the must have options for me were:Carbon everything for instance is horrific to me. Racing bucket seats likewise.
Carbon bucket seats
Carbon driver zone
No external carbon
Something other than red
Forged wheels
2012 or later
LED carbon wheel
I wanted carbon on interior as a must as the silver / grey stock items look cheap and nasty no doubt done on purpose by Ferrari to get customers optioning the carbon bits. LED carbon wheel a must and some suede on interior a bonus with contrast stitching and horses on head rest.
Buckets seats were a must as they look sensational and I also find comfier than the heavier comfort seats.
Forged wheels, cast wheels are ugly and heavier.
I purchased my dream spec I nearly never looked at it as it was beyond my budget but I viewed the car and was able to get 8k of list price, so deal was done, had it around 5 years now and done over 15,000 miles love it. Also got a 360 manual as well now too.
chimi said:
craig511 said:
Can’t seem to get the link to work.
Mine is up for sale too right now.
Here is the link… Mine is up for sale too right now.
https://jzmporsche.com/cars/ferrari-458-p0504/
f1z said:
Same thought process is going for me now. Prices for a coupe really are 120k and from a Ferrari dealer at 130-135k now. I have rethought the process and will be going for a spider variant at the 150 range. I know many don't like the 488's but you do really find better colour/spec options so I am also considering a 488 spider also. Not in a rush so will see how things go. I have been tracking all cars complied into a spreadsheet and seeing the drops makes me want to wait to save an additional 10-20k by waiting an extra few months.
Exactly, they don't sell and all the cars i have been to see seemed like desperate to sell.If prices continue to be like this i will be heading towards 812, please dont tell me they are not the same. many ppl buy f458 for the sound. And if 458 is the prince, i would easily call 812 king in terms of sound.
last na v8 bs getting boring.
btw the good spec :
the ones dont look like stripped by thieves
the ones still have life in the brakes
the ones dont have accident repairs
not the ones whose interior has 3 month life left, trying to be hidden with many leather care products.
non - tracked cars
no offence but not gray :/ if I liked gray I would love uk weather
Perhaps I’m out of touch but at £180k and even more so at £150/160k for a good spec and condition car (if you can get one), I think the 458 is tremendous value relative to comps. It surprises me that 992 GT3s for example still trade comfortably above £200k and Turbo S’s around that £200k range. Newer cars I know but for me personally looking at what £150k could buy me, I’d be in a 458 every day of the week.
The new Ferraris also just an insanely large gap to these prices with 296 GTSs retailing at £350k for a top spec car.
The new Ferraris also just an insanely large gap to these prices with 296 GTSs retailing at £350k for a top spec car.
Edited by HotWheels82 on Thursday 6th July 07:11
Regarding spec - the fastest selling cars all have
Internal carbon.
Led wheel
Bucket seats
PPF for the whole life of the car so paintwork is original and good
Rosso Corsa will appeal to the widest group of buyers. But it’s your car, not theirs.
Mileage doesn’t matter - as long as the car is priced accordingly.
Personally I would not pay a premium for a low mileage car. The pricing sweet spot is probably 2k miles a year.
There are fewer and fewer well maintained cars around now. So buying a very well maintained car is a must. As cars approach 10 years old, more owners are going to independents for servicing. Whilst they do the exact same job as a main dealer for half the price, I think saving £600 on a service for a £150k car is a fallacy. I would buy a car with FFSH only - they will always sell faster.
Internal carbon.
Led wheel
Bucket seats
PPF for the whole life of the car so paintwork is original and good
Rosso Corsa will appeal to the widest group of buyers. But it’s your car, not theirs.
Mileage doesn’t matter - as long as the car is priced accordingly.
Personally I would not pay a premium for a low mileage car. The pricing sweet spot is probably 2k miles a year.
There are fewer and fewer well maintained cars around now. So buying a very well maintained car is a must. As cars approach 10 years old, more owners are going to independents for servicing. Whilst they do the exact same job as a main dealer for half the price, I think saving £600 on a service for a £150k car is a fallacy. I would buy a car with FFSH only - they will always sell faster.
andyr said:
Regarding spec - the fastest selling cars all have
Internal carbon.
Led wheel
Bucket seats
PPF for the whole life of the car so paintwork is original and good
Rosso Corsa will appeal to the widest group of buyers. But it’s your car, not theirs.
Mileage doesn’t matter - as long as the car is priced accordingly.
Personally I would not pay a premium for a low mileage car. The pricing sweet spot is probably 2k miles a year.
There are fewer and fewer well maintained cars around now. So buying a very well maintained car is a must. As cars approach 10 years old, more owners are going to independents for servicing. Whilst they do the exact same job as a main dealer for half the price, I think saving £600 on a service for a £150k car is a fallacy. I would buy a car with FFSH only - they will always sell faster.
Someone buying a 458 to enjoy should totally avoid low mileage examples, a low mileage garage queen is likely to cost far more in running cost and repairs compared to a car that has been driven on a regular basis.Internal carbon.
Led wheel
Bucket seats
PPF for the whole life of the car so paintwork is original and good
Rosso Corsa will appeal to the widest group of buyers. But it’s your car, not theirs.
Mileage doesn’t matter - as long as the car is priced accordingly.
Personally I would not pay a premium for a low mileage car. The pricing sweet spot is probably 2k miles a year.
There are fewer and fewer well maintained cars around now. So buying a very well maintained car is a must. As cars approach 10 years old, more owners are going to independents for servicing. Whilst they do the exact same job as a main dealer for half the price, I think saving £600 on a service for a £150k car is a fallacy. I would buy a car with FFSH only - they will always sell faster.
The 458 really wants regular use, not driving them for long period causes issues, valves stick causing error messages, oil leaks can happen due to seals drying up due to lack of lubrication amongst other issues. All cars are designed to be driven as end of the day all moving parts are lubricated so suspension, engine etc. etc and when they are parked not moving or running the rubbers and oily bits dry up causing additional wear or seals failing causing issues.
Low mile cars are for collectors, anyone buying any super car to actually drive and enjoy should steer clear from low mileage examples like the plague. Their are 458 owners with over 100,000 miles on the clock, serviced according to schedule and cared for these cars will last.
458's are now around 10 years old so for me I'd only consider cars with over 10,000 miles absolute minimum and I'd be happier to buy a car for less money with 20-30k on the clock if the cars condition was spot on and the condition of the brakes was good. I've also seen low mileage cars where the condition of the car does not represent mileage so they have either been clocked or just not looked after. ALWAYS BUY ON CONDITION, not miles!
The only other Ferrari I'd replace my 458 with would be an 812, it sounds better and its more savage but the 458 is a sweeter handling car and more go-kart like, in an ideal work I'd simply own both.
Nuttbelle said:
Wouldn't believe the odometer on any ferrari so many are clocked.
Buy on condition and service history
Not this old garbage again… easy for a main dealer to verify the mileage using other internal recorders which cannot be ‘wound back’, particularly on a 458. If buying private or none franchise just get it checked as a condition of sale.Buy on condition and service history
Edited by garystoybox on Thursday 6th July 13:18
andyr said:
As cars approach 10 years old, more owners are going to independents for servicing. Whilst they do the exact same job as a main dealer for half the price, I think saving £600 on a service for a £150k car is a fallacy. I would buy a car with FFSH only - they will always sell faster.
I don't feel the same. For an older car of at least 10 years old I wouldn't put any extra value in a full main dealer history over one with a good independent. Often it isn't about the £600, it's about using someone you may have used for years, and who you know and trust. I don't know about the 458 specifically, but for previous models independents would be more likely to carry out preventative maintenance and fit uprated parts, over just replacing with OEM parts that will wear out just as quickly.I agree about low mileage cars. even though they seem appealing it feels like a problem is waiting to be happen.
there was a cat s car I was going to get but his brakes were toast. i would respray and renew entire interior. maybe I go that route and keep the car, if I find a good price one.
there was a cat s car I was going to get but his brakes were toast. i would respray and renew entire interior. maybe I go that route and keep the car, if I find a good price one.
some private seller prices. I added one garage to compare
https://www.autotrader.co.uk/car-details/202306088...
https://www.autotrader.co.uk/car-details/202306018...
https://www.autotrader.co.uk/car-details/202306088...
https://www.autotrader.co.uk/car-details/202306158...
https://www.autotrader.co.uk/car-details/202306088...
https://www.autotrader.co.uk/car-details/202306018...
https://www.autotrader.co.uk/car-details/202306088...
https://www.autotrader.co.uk/car-details/202306158...
m333m444 said:
some private seller prices. I added one garage to compare
https://www.autotrader.co.uk/car-details/202306158...
Comical price revision history on this one... does he think its a stock market? Things were looking up on the 21st!! https://www.autotrader.co.uk/car-details/202306158...
05/07/2023 £129,995
03/07/2023 £130,995
21/06/2023 £131,999
19/06/2023 £124,999
19/06/2023 £126,999
17/06/2023 £129,999
16/06/2023 £132,999
15/06/2023 £135,000
The above car is my car.
Some reasoning.
I first listed the car on collecting cars with a service and MOT due within 4 weeks. Think the offer was £122k. The reason I listed low initially was I needed the cash for a Property purchase and while i was happy to accept less than i was hoping to get the cash, in the end I got cash from elsewhere and did the property deal. That then took the urgency out of the equation.
So, I then got it serviced and mot’d at Edinburgh Ferrari with a health report done. You’ll find the report on the advert.
At this point i priced the car making it the 2nd cheapest 458 on autotrader. Remember, it also comes with a Ferrari warranty until feb 2025.
So right now I am offering a 458, all carbon interior plus carbon sills ( comfort seats) with a full service and mot ticket, a health report and a decent Ferrari power warranty. It’s current price IMO is a bargain and if it doesn’t sell then I’ll just keep it. It’s a great car with full FFSH, brakes are mint and at most someone may want to replace the two back tyres but at 3.6mm IMO they are fine.
As for the erratic pricing, it just moves in line with recent sales and auctions with a base price of £130k.
Anyone hoping for a good example sub £125k are dreaming , in my humble opinion.
With the service and warranty and mot done, this is the most risk free , non Ferrari dealer purchase , 458 out there.
Some reasoning.
I first listed the car on collecting cars with a service and MOT due within 4 weeks. Think the offer was £122k. The reason I listed low initially was I needed the cash for a Property purchase and while i was happy to accept less than i was hoping to get the cash, in the end I got cash from elsewhere and did the property deal. That then took the urgency out of the equation.
So, I then got it serviced and mot’d at Edinburgh Ferrari with a health report done. You’ll find the report on the advert.
At this point i priced the car making it the 2nd cheapest 458 on autotrader. Remember, it also comes with a Ferrari warranty until feb 2025.
So right now I am offering a 458, all carbon interior plus carbon sills ( comfort seats) with a full service and mot ticket, a health report and a decent Ferrari power warranty. It’s current price IMO is a bargain and if it doesn’t sell then I’ll just keep it. It’s a great car with full FFSH, brakes are mint and at most someone may want to replace the two back tyres but at 3.6mm IMO they are fine.
As for the erratic pricing, it just moves in line with recent sales and auctions with a base price of £130k.
Anyone hoping for a good example sub £125k are dreaming , in my humble opinion.
With the service and warranty and mot done, this is the most risk free , non Ferrari dealer purchase , 458 out there.
Edited by craig511 on Saturday 8th July 22:27
Edited by craig511 on Saturday 8th July 22:28
craig511 said:
The above car is my car.
Some reasoning.
I first listed the car on collecting cars with a service and MOT due within 4 weeks. Think the offer was £122k. The reason I listed low initially was I needed the cash for a Property purchase and while i was happy to accept less than i was hoping to get the cash, in the end I got cash from elsewhere and did the property deal. That then took the urgency out of the equation.
So, I then got it serviced and mot’d at Edinburgh Ferrari with a health report done. You’ll find the report on the advert.
At this point i priced the car making it the 2nd cheapest 458 on autotrader. Remember, it also comes with a Ferrari warranty until feb 2025.
So right now I am offering a 458, all carbon interior plus carbon sills ( comfort seats) with a full service and mot ticket, a health report and a decent Ferrari power warranty. It’s current price IMO is a bargain and if it doesn’t sell then I’ll just keep it. It’s a great car with full FFSH, brakes are mint and at most someone may want to replace the two back tyres but at 3.6mm IMO they are fine.
As for the erratic pricing, it just moves in line with recent sales and auctions with a base price of £130k.
Anyone hoping for a good example sub £125k are dreaming , in my humble opinion.
With the service and warranty and mot done, this is the most risk free , non Ferrari dealer purchase , 458 out there.
I actually enquired about Craig's car above and I seriously considered it at around the CC price but I've just gone down the McLaren route. It's a great car and he was quite open and straightforward to deal with, plus the recent inspection report significantly lowers the risk. I'd have to say though that main dealers are now pricing some cars around £130k or less and some other independents are well below this already. It's been mentioned a few times already on this thread but general private sales have got to be priced lower than dealer cars of the same age mileage to make it worth it to the buyer for having zero protection and significantly fewer finance options. Some reasoning.
I first listed the car on collecting cars with a service and MOT due within 4 weeks. Think the offer was £122k. The reason I listed low initially was I needed the cash for a Property purchase and while i was happy to accept less than i was hoping to get the cash, in the end I got cash from elsewhere and did the property deal. That then took the urgency out of the equation.
So, I then got it serviced and mot’d at Edinburgh Ferrari with a health report done. You’ll find the report on the advert.
At this point i priced the car making it the 2nd cheapest 458 on autotrader. Remember, it also comes with a Ferrari warranty until feb 2025.
So right now I am offering a 458, all carbon interior plus carbon sills ( comfort seats) with a full service and mot ticket, a health report and a decent Ferrari power warranty. It’s current price IMO is a bargain and if it doesn’t sell then I’ll just keep it. It’s a great car with full FFSH, brakes are mint and at most someone may want to replace the two back tyres but at 3.6mm IMO they are fine.
As for the erratic pricing, it just moves in line with recent sales and auctions with a base price of £130k.
Anyone hoping for a good example sub £125k are dreaming , in my humble opinion.
With the service and warranty and mot done, this is the most risk free , non Ferrari dealer purchase , 458 out there.
Edited by craig511 on Saturday 8th July 22:27
Edited by craig511 on Saturday 8th July 22:28
From speaking to different Ferrari dealers, it's clear that Ferrari Financial Services GmbH is doing the best it can to keep their rates low to prop up sales figures. For a private sale Lease purchase structure with a balloon, the best rates I've got from brokers is around 12.9%, compared with 8.9% from Ferrari finance.
Here's a rough illustration to demonstrate this:
Car price £130k
Deposit £20k
Balloon £85k
Term 48 months
| Ferrari Finance @ 8.9% APR | Broker Finance @12.9% APR |
|---|---|
| Monthly payment £1,243 | Monthly payment £1,554 |
| Cost of Credit £33,419 | Cost of Credit £48,051 |
This goes to show that even if the cars cost the same, the main dealer car works out cheaper by almost £15k. A large proportion of buyers use finance so it's definitely something to consider. The gap will get wider as rates continue to rise.
On the filp side, there's always high demand for immaculate, low-mileage cars with all the desirable options and people are happy to pay a premium for them no matter what
That’s actually very interesting, thanks for that.
I actually thought the rates were nearer 10%
I’m on 5.8% ( or 5.9%) so keeping it for 2-3 more years is no real hardship for me. I had it down to Moffat last night and was playing with some local bikers. Too much fun.
I still stand by that even with that priced in, my car is where it should approx be. Very few cars have the full interior carbon ( including the dash insets btw and the carbon door sills.
Only thing it is missing is the carbon seats but if it had them it would be £10k more .
The cheapest Ferarri dealer I can see is £150k and has imo a much worse interior combo , with the only saving grace being its low miles which personally you’re paying a massive premium for.
I actually thought the rates were nearer 10%
I’m on 5.8% ( or 5.9%) so keeping it for 2-3 more years is no real hardship for me. I had it down to Moffat last night and was playing with some local bikers. Too much fun.
I still stand by that even with that priced in, my car is where it should approx be. Very few cars have the full interior carbon ( including the dash insets btw and the carbon door sills.
Only thing it is missing is the carbon seats but if it had them it would be £10k more .
The cheapest Ferarri dealer I can see is £150k and has imo a much worse interior combo , with the only saving grace being its low miles which personally you’re paying a massive premium for.
craig511 said:
That’s actually very interesting, thanks for that.
I actually thought the rates were nearer 10%
I’m on 5.8% ( or 5.9%) so keeping it for 2-3 more years is no real hardship for me. I had it down to Moffat last night and was playing with some local bikers. Too much fun.
I still stand by that even with that priced in, my car is where it should approx be. Very few cars have the full interior carbon ( including the dash insets btw and the carbon door sills.
Only thing it is missing is the carbon seats but if it had them it would be £10k more .
The cheapest Ferarri dealer I can see is £150k and has imo a much worse interior combo , with the only saving grace being its low miles which personally you’re paying a massive premium for.
It's definitely still possible to get rates under 10% from a few lenders on PCPs, but most PCPs are age restricted for cars of 3 and sometimes 5 years old, so the only options left are Lease Purchase and Hire Purchase for older cars. Most people would tend to go for LP for the much lower monthly payments and possibility for interest-only structures. But there are much fewer lenders willing to offer LP for private sales.I actually thought the rates were nearer 10%
I’m on 5.8% ( or 5.9%) so keeping it for 2-3 more years is no real hardship for me. I had it down to Moffat last night and was playing with some local bikers. Too much fun.
I still stand by that even with that priced in, my car is where it should approx be. Very few cars have the full interior carbon ( including the dash insets btw and the carbon door sills.
Only thing it is missing is the carbon seats but if it had them it would be £10k more .
The cheapest Ferarri dealer I can see is £150k and has imo a much worse interior combo , with the only saving grace being its low miles which personally you’re paying a massive premium for.
If you're enjoying yours and don't need to sell right now then definitely hold off and because prices would inevitably go up again once this downward trend period of the cycle ends!
PinkHouse said:
I actually enquired about Craig's car above and I seriously considered it at around the CC price but I've just gone down the McLaren route. It's a great car and he was quite open and straightforward to deal with, plus the recent inspection report significantly lowers the risk. I'd have to say though that main dealers are now pricing some cars around £130k or less and some other independents are well below this already. It's been mentioned a few times already on this thread but general private sales have got to be priced lower than dealer cars of the same age mileage to make it worth it to the buyer for having zero protection and significantly fewer finance options.
From speaking to different Ferrari dealers, it's clear that Ferrari Financial Services GmbH is doing the best it can to keep their rates low to prop up sales figures. For a private sale Lease purchase structure with a balloon, the best rates I've got from brokers is around 12.9%, compared with 8.9% from Ferrari finance.
Here's a rough illustration to demonstrate this:
Car price £130k
Deposit £20k
Balloon £85k
Term 48 months
This goes to show that even if the cars cost the same, the main dealer car works out cheaper by almost £15k. A large proportion of buyers use finance so it's definitely something to consider. The gap will get wider as rates continue to rise.
On the filp side, there's always high demand for immaculate, low-mileage cars with all the desirable options and people are happy to pay a premium for them no matter what
newb finance question, but for the example you showed here.From speaking to different Ferrari dealers, it's clear that Ferrari Financial Services GmbH is doing the best it can to keep their rates low to prop up sales figures. For a private sale Lease purchase structure with a balloon, the best rates I've got from brokers is around 12.9%, compared with 8.9% from Ferrari finance.
Here's a rough illustration to demonstrate this:
Car price £130k
Deposit £20k
Balloon £85k
Term 48 months
| Ferrari Finance @ 8.9% APR | Broker Finance @12.9% APR |
|---|---|
| Monthly payment £1,243 | Monthly payment £1,554 |
| Cost of Credit £33,419 | Cost of Credit £48,051 |
This goes to show that even if the cars cost the same, the main dealer car works out cheaper by almost £15k. A large proportion of buyers use finance so it's definitely something to consider. The gap will get wider as rates continue to rise.
On the filp side, there's always high demand for immaculate, low-mileage cars with all the desirable options and people are happy to pay a premium for them no matter what
are you locked into paying the 4 years or is there some way out? what would you lose?
after the 4 years you have to pay the balloon and then you can either a)keep car b) look to get into something new and use any equity you have i.e if the car is worth more then you had agreed it was worth at the start?
dng992 said:
newb finance question, but for the example you showed here.
are you locked into paying the 4 years or is there some way out? what would you lose?
after the 4 years you have to pay the balloon and then you can either a)keep car b) look to get into something new and use any equity you have i.e if the car is worth more then you had agreed it was worth at the start?
You can usually settle the agreement early with little penalties, so in reality most people don't pay the full interest cost. You're pretty spot on with both options, but additionally you can also just sell the car and keep the equity you've built up assuming there's any. The risk with LP is that if the balloon is too high then you could get into negative equity whereas if it was a PCP and your car was worth less than the balloon you'd be able to just hand it back and walk away are you locked into paying the 4 years or is there some way out? what would you lose?
after the 4 years you have to pay the balloon and then you can either a)keep car b) look to get into something new and use any equity you have i.e if the car is worth more then you had agreed it was worth at the start?
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