Discussion
Should I take the plunge? The Ferrari 458 has long been a dream drive for me having once been very lucky to borrow one for the day.
Now - amazingly, I'm able to buy one, the wife has even ok'd the idea! Whats putting me off? - well, am I right in thinking that the prices seem to be actually going up! does this mean that prices will keep going up or will they suddenly come crashing down ? has anyone kept a track of these prices. I'd also welcome any owners experiences, good or bad!
Now - amazingly, I'm able to buy one, the wife has even ok'd the idea! Whats putting me off? - well, am I right in thinking that the prices seem to be actually going up! does this mean that prices will keep going up or will they suddenly come crashing down ? has anyone kept a track of these prices. I'd also welcome any owners experiences, good or bad!
Always assume a car will depreciate.
Especially a modern one, that they made many of.
Assume that it will depreciate quite a lot, unless you buy it at the bottom of the price curve for that particular model which can be a long time coming.
The last car price bubble in the late 80s ended in a crash. With prices flat for years and years thereafter.
You have to buy with your heart not your head.
If you end up not paying for the experience that will be a rare stroke of luck if you look back over the last 50 years.
Especially a modern one, that they made many of.
Assume that it will depreciate quite a lot, unless you buy it at the bottom of the price curve for that particular model which can be a long time coming.
The last car price bubble in the late 80s ended in a crash. With prices flat for years and years thereafter.
You have to buy with your heart not your head.
If you end up not paying for the experience that will be a rare stroke of luck if you look back over the last 50 years.
If you can afford it (note: afford, not buy) then go for it.
You can always make more money, you can't make more time. The only caveat I'd add is to do your due diligence and enter the market at the right place for you. Don't pay a premium for an ultra low mileage garage queen and use it as your daily, don't buy a late year 458 and expect not to suffer the commensurate depreciation knock year on year (look at the prices of the early year cars to get a feel for this).
The problem with values is that everyone does these arguments to death, and in so doing - I feel - sterilises the whole experience of buying and owning one. They are not, and should not, be evaluated in the context of fine art, or as investments (Speciale/Apertas notwithstanding). The paralysing effects of speculative hand-wringing over depreciation etc only serves to make owning one a debilitating experience.
I bought a 458 earlier in the year, knowing that the 488 was around the corner. I will almost certainly lose money on it. I'll never lose the joy I've experienced driving it.
You can always make more money, you can't make more time. The only caveat I'd add is to do your due diligence and enter the market at the right place for you. Don't pay a premium for an ultra low mileage garage queen and use it as your daily, don't buy a late year 458 and expect not to suffer the commensurate depreciation knock year on year (look at the prices of the early year cars to get a feel for this).
The problem with values is that everyone does these arguments to death, and in so doing - I feel - sterilises the whole experience of buying and owning one. They are not, and should not, be evaluated in the context of fine art, or as investments (Speciale/Apertas notwithstanding). The paralysing effects of speculative hand-wringing over depreciation etc only serves to make owning one a debilitating experience.
I bought a 458 earlier in the year, knowing that the 488 was around the corner. I will almost certainly lose money on it. I'll never lose the joy I've experienced driving it.
Edited by Durzel on Monday 9th November 16:00
z4RRSchris said:
no modern mass produced Ferrari will go up. We are in an asset bubble, just go in believing that the car could be worth half in 2 years.
yeah okay, you seen the 430 prices thread? or whats been happen to 360s? if you bought a year or two ago and sold today the price has most definitely gone up - which is in stark contrast to what your saying hereop the 458 a little more difficult to call, one thing it won't be is "worth half in 2 years"
that's exactly what I'm saying, since 2008 we have seen an asset bubble. The prices of tax free assets such as non cars, art, wine, property, etc has increased massively.
we will see 348/355/360/430's back at 2008/2010 prices.
Any idiots who think otherwise should take a look at history
that said I'm thinking of putting 80k into a Gallardo but I'm prepared for it to be worth 50k when the market turns
we will see 348/355/360/430's back at 2008/2010 prices.
Any idiots who think otherwise should take a look at history
that said I'm thinking of putting 80k into a Gallardo but I'm prepared for it to be worth 50k when the market turns
I said a few months ago 458s would be available at 130k by Christmas. Instead the lower end has stayed stubbornly at 140k. Markets go up and down - but note - there has been unprecedented money printing the last 7 years so its certainly possible consumer prices play catchup with asset prices rather than asset-bubbled prices popping.
Some superbly thoughtful and thought provoking comments here, it’s great to here these views. I remember the classic car bubble bursting in the late 1990's with a slow increase in values until the next crash of 2008. There may be signs of an impending burst very soon however I’m not sure the conditions are quite the same now as there is a lot more money floating around these days - but who knows.
However, hearing great comments like “you can always make more money, you can't make more time” and “buy what you really want to” , has sent me straight back to autotrader. I can still remember the sound of that howling Ferrari V8! I will post pictures if / when I stop the “speculative hand-wringing over depreciation” and go out and buy my 458.
However, hearing great comments like “you can always make more money, you can't make more time” and “buy what you really want to” , has sent me straight back to autotrader. I can still remember the sound of that howling Ferrari V8! I will post pictures if / when I stop the “speculative hand-wringing over depreciation” and go out and buy my 458.
Durzel said:
I bought a 458 earlier in the year, knowing that the 488 was around the corner. I will almost certainly lose money on it. I'll never lose the joy I've experienced driving it.
Possibly the nicest, most genuine comment I've ever read on this forum.Edited by Durzel on Monday 9th November 16:00
All we have today are our memories of yesterday and plans for tomorrow.
Consider these two options:
Sitting in the garden of the old-folks home and reminiscing..... “Yep, I had a Toyota. Never had a problem with it, gave great mileage, hardly ever needed fixing.”
Or, “I had a couple of Ferrari's when I was young. Expensive? They were impractical and cost a fortune when they broke, but what a sound… the most fun I ever had! Fast? Lemme tell you: the women loved them and your buddies thought you were the luckiest guy on the planet! I wouldn’t trade those memories for the world.”
If you can.....do :-)
Consider these two options:
Sitting in the garden of the old-folks home and reminiscing..... “Yep, I had a Toyota. Never had a problem with it, gave great mileage, hardly ever needed fixing.”
Or, “I had a couple of Ferrari's when I was young. Expensive? They were impractical and cost a fortune when they broke, but what a sound… the most fun I ever had! Fast? Lemme tell you: the women loved them and your buddies thought you were the luckiest guy on the planet! I wouldn’t trade those memories for the world.”
If you can.....do :-)
F1Sean said:
All we have today are our memories of yesterday and plans for tomorrow.
Consider these two options:
Sitting in the garden of the old-folks home and reminiscing..... “Yep, I had a Toyota. Never had a problem with it, gave great mileage, hardly ever needed fixing.”
Or, “I had a couple of Ferrari's when I was young. Expensive? They were impractical and cost a fortune when they broke, but what a sound… the most fun I ever had! Fast? Lemme tell you: the women loved them and your buddies thought you were the luckiest guy on the planet! I wouldn’t trade those memories for the world.”
If you can.....do :-)
So true Consider these two options:
Sitting in the garden of the old-folks home and reminiscing..... “Yep, I had a Toyota. Never had a problem with it, gave great mileage, hardly ever needed fixing.”
Or, “I had a couple of Ferrari's when I was young. Expensive? They were impractical and cost a fortune when they broke, but what a sound… the most fun I ever had! Fast? Lemme tell you: the women loved them and your buddies thought you were the luckiest guy on the planet! I wouldn’t trade those memories for the world.”
If you can.....do :-)
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