Time to buy? 458
Discussion
Hi all!
Over the last few years I've been looking at 458's.
I'd love to own one, and I'm thinking now could be a good time to take a dive into the Ferrari world.
Does anyone think with everything going on, these will drop over the next few years? They seem to be holding strong with used 488 prices now not far off!
Appreciate anyone's thoughts and info!
Over the last few years I've been looking at 458's.
I'd love to own one, and I'm thinking now could be a good time to take a dive into the Ferrari world.
Does anyone think with everything going on, these will drop over the next few years? They seem to be holding strong with used 488 prices now not far off!
Appreciate anyone's thoughts and info!
I think 458 prices have been under pressure over last few months. Granted, there are a few dealers trying to pretend these have held solid over the last 18 months, but the reality is different. My local official dealer has just sold a lovely Grigio 458 after almost 5 months and it went for just over £120k with a 2 year warranty. My previous 458 has just come back on the market last week and looking at the price, I would think the dealer bought this in at c£110k. I know this sold 20 months ago for £148k. I.e. if you buy and sell with 2 years ownership cost likely to have been £35-£40k.
If anything 488’s are putting 458’s under pressure; regardless of what people say about the ‘last of the V8’s, etc, 458’s are getting older and prices will continue to fall. This may flatten but if you accept a cost of £15k-£20k p.a. is likely, then get one bought as both the ones I had were wonderful. Just don’t get sucked into dealers bull and overpaying.
If anything 488’s are putting 458’s under pressure; regardless of what people say about the ‘last of the V8’s, etc, 458’s are getting older and prices will continue to fall. This may flatten but if you accept a cost of £15k-£20k p.a. is likely, then get one bought as both the ones I had were wonderful. Just don’t get sucked into dealers bull and overpaying.
A £110k 458 appeared on Autotrader this week, cheapest I've seen since August.
Similarly a £140k 488 also appeared this week, cheapest seen since August.
A McLaren 540C at £70k has appeared recently, cheapest in over a year.
A McLaren 570S Spyder at £94k is on AT, cheapest in over a year.
A Lambourgini Huracan at £110k appeared last week, assumed sold as advert has disappeared.
The devil is in the detail of course and this is a black and white view of the world but feels like prices are softening.
Similarly a £140k 488 also appeared this week, cheapest seen since August.
A McLaren 540C at £70k has appeared recently, cheapest in over a year.
A McLaren 570S Spyder at £94k is on AT, cheapest in over a year.
A Lambourgini Huracan at £110k appeared last week, assumed sold as advert has disappeared.
The devil is in the detail of course and this is a black and white view of the world but feels like prices are softening.
I'm not selling or buying so have no axe to grind but you'd have to think that the current euphoria re vaccines might harden the market all round (by which I mean decrease the depreciation rather than raise prices) so if you really want a 458 this is as good a time as any. I personally think that long term they will be worth more than 488s. You can ignore the last naturally aspirated V8 issue if you want but to a certain part of the market that really matters and, conversely, if it doesn't matter to someone and they just want the newest toy, why would they have a 488 over an F8 or whatever comes next?
They aren't an investment. Any car at the moment is no investment there so much uncertainty with Covid/Brexit/ability to use them in 10 years time.
If you want one just go for it but don't buy one without factoring in burning 20/30k imho
If you come out of it anywhere near break even it would be a result.
Thats the bad news the good news is regardless of the financial outcome you have owned a 458.
If you want one just go for it but don't buy one without factoring in burning 20/30k imho
If you come out of it anywhere near break even it would be a result.
Thats the bad news the good news is regardless of the financial outcome you have owned a 458.
I’ve said it before but I can’t think of a worse situation to be in than owning a car like that, and not being able to enjoy it unencumbered because you’re worried about depreciation per mile, maintenance costs, etc.
Not saying you have to be able to afford 2 in order to enjoy 1, but you do need to be thinking that you’re going to lose 20-30k on it. Hell if you buy from a main dealer (Ferrari warranty is nice piece of mind) and try and sell back to them, nowadays I think you’d be looking at 25k spread minimum on a 458/488.
If you can make peace with the potential of losing money on it, go for it - they are amazing cars, and with everything going on one could use a big pick me up!
Not saying you have to be able to afford 2 in order to enjoy 1, but you do need to be thinking that you’re going to lose 20-30k on it. Hell if you buy from a main dealer (Ferrari warranty is nice piece of mind) and try and sell back to them, nowadays I think you’d be looking at 25k spread minimum on a 458/488.
If you can make peace with the potential of losing money on it, go for it - they are amazing cars, and with everything going on one could use a big pick me up!
This. I see people on here and ferrarichat fretting about mileage just use the thing. I've done 2800 miles in mine since June been on track in the UK dive a lap of the Nurburgring in it (a very steady one!) I think the more you use it the more you'll get from the experience. None is not in as much use now in the poor weather but its not SORN and will be out post lockdown as and when I get chance and next year will be as near to a daily as possible
Buy, Drive. Enjoy. Create memories. If you're in the least bit worried about cost of ownership (although they're robust, reliable cars) don't get into it though. Buy it to enjoy it, not to worry about it. Buy the car you can own and drive in January, in s
t weather, for as many miles as you want without giving a sh*it. You'll enjoy a Boxster S you can afford easily more than a 458 you worry about adding miles to.
As for owning one, I bought my spider new in '14 and I'll never part with it. It's been all over Europe and I've had some epic times in it. This year I went all along the west coast of Scotland in it, as far out as Iona. It's absolutely epic and I love it to bits. My Will says my Mrs has to blow a not insubstantial amount of money burying me in it.*
I wouldn't worry about being able to use it in the future either. F1 and certain manufacturers such as Porsche are committed to synthetic fuels, petrol itself will be available until at least 2050 (new hybrid petrol cars banned from 2035 needs at least a 15 year run out and the numbers say we will have ICE cars on the road for decades [60 million ICE vehicles on UK roads and we buy 2 million new cars a year so a long job to replace them all, 1.5 billion ICE cars worldwide and around 20m electric cars currently]). Not to mention that classic cars are extremely well supported by successive UK governments (Classics require no tax nor MOT) and to ban them would be a huge turnaround and FIVA along with FBHVC fight our cause constantly). Of course a 2014 Ferrari wont be a 'classic car' until 2054 but my point is that a fuel will be available.
I'm not saying it will be cheap as, as with smoking, it wont be banned, it'll just be taxed, but you will be able to drive it.
In my opinion. ;-)
*this is not true, but now I've thought of it, I'm gonna make it true.
t weather, for as many miles as you want without giving a sh*it. You'll enjoy a Boxster S you can afford easily more than a 458 you worry about adding miles to. As for owning one, I bought my spider new in '14 and I'll never part with it. It's been all over Europe and I've had some epic times in it. This year I went all along the west coast of Scotland in it, as far out as Iona. It's absolutely epic and I love it to bits. My Will says my Mrs has to blow a not insubstantial amount of money burying me in it.*
I wouldn't worry about being able to use it in the future either. F1 and certain manufacturers such as Porsche are committed to synthetic fuels, petrol itself will be available until at least 2050 (new hybrid petrol cars banned from 2035 needs at least a 15 year run out and the numbers say we will have ICE cars on the road for decades [60 million ICE vehicles on UK roads and we buy 2 million new cars a year so a long job to replace them all, 1.5 billion ICE cars worldwide and around 20m electric cars currently]). Not to mention that classic cars are extremely well supported by successive UK governments (Classics require no tax nor MOT) and to ban them would be a huge turnaround and FIVA along with FBHVC fight our cause constantly). Of course a 2014 Ferrari wont be a 'classic car' until 2054 but my point is that a fuel will be available.
I'm not saying it will be cheap as, as with smoking, it wont be banned, it'll just be taxed, but you will be able to drive it.
In my opinion. ;-)
*this is not true, but now I've thought of it, I'm gonna make it true.
I was thinking more of driving them in city centres which will then probably spread to towns and then anywhere with an anti car administration.
Petrol will always be available as its in so much other stuff. If anything it will also get much cheaper.
What a time to be alive though as you say we at least have a couple of decades of relatively hassle free motoring to go.
Petrol will always be available as its in so much other stuff. If anything it will also get much cheaper.
What a time to be alive though as you say we at least have a couple of decades of relatively hassle free motoring to go.
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