New Ferrari owner / Advice please - Ferrari Life
 
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post #1 of 13 Old 12-27-2009, 01:02 PM Thread Starter
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New Ferrari owner / Advice please

Hi all,

I'm on the verge of taking the plunge and buying my first Ferrari... After some research and a look at my available funds and options, I've plumped for the (red) F430 Spider.

The asking price is 99,950 for a car that is 2007 (07 Plate) UK - done just 1,050 miles. (One thousand and fifty miles) from a main dealership.

The price seems pretty average to me. Any thoughts anyone? Also, any tips as to what I should ask for (like thrown in with the deal) and how much I might expect the car to depreciate in say, 2 years?

I intend to use the car whenever its dry. So probably about once or twice a week!

Thanks
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post #2 of 13 Old 12-27-2009, 02:29 PM
 
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Originally Posted by Thorpey View Post
Hi all,

I'm on the verge of taking the plunge and buying my first Ferrari... After some research and a look at my available funds and options, I've plumped for the (red) F430 Spider.

The asking price is 99,950 for a car that is 2007 (07 Plate) UK - done just 1,050 miles. (One thousand and fifty miles) from a main dealership.

The price seems pretty average to me. Any thoughts anyone? Also, any tips as to what I should ask for (like thrown in with the deal) and how much I might expect the car to depreciate in say, 2 years?

I intend to use the car whenever its dry. So probably about once or twice a week!

Thanks

WOW, miles are amazing.

Must be as good as new.

Its cheap, try buying a late model Ferrari here in AUS and see how we are stooged.

Good luck with your purchase, should be doing those sorts of miles in a weekend!

Ciao
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post #3 of 13 Old 12-27-2009, 02:39 PM
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Welcome to FerrariLife, and congratulations on the purchase if you decide to get it.

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post #4 of 13 Old 12-27-2009, 02:44 PM
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Welcome to FerrariLife, and congratulations on the purchase if you decide to get it.
+1. and I'm sure there are a few UK based members here who will give you feedback on the asking price.

Good luck with the purchase!

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post #5 of 13 Old 12-27-2009, 07:24 PM
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Sounds like a good price. Good luck and congrats if you obtain it!!
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post #6 of 13 Old 12-27-2009, 10:28 PM
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Hard for us in America to equate Ferrari values in England, but the conversion works out to a favorable sum.

So, it sounds good.

Let us know how you do and welcome to F.L.
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post #7 of 13 Old 12-27-2009, 10:57 PM Thread Starter
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Thanks for the welcome everyone, I was a bit unsure of the response! Am eagerly waiting for the holiday period to end so that I can finalise this deal. Will let you know and send over pics when and if its all done.

Speak soon
Thanks
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post #8 of 13 Old 12-27-2009, 11:29 PM
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Hi Thorpey,

It's a decent asking price for the UK, especially considering the mileage. It's important to remember with Ferraris that asking price should NOT be your first consideration - you need to make sure that the car is great and only then worry about asking price. It's better to pay more but have ease of mind. But in this case you don't really have anything to complain about.

Normally I would warn you about low mileage, but this car is only 2 years old and I can't imagine it having had detrimental effects, just make sure it has a good service before you start using it properly.

As for things to ask for - make sure that you get a guarantee that the car has never been in an accident.

Finally, regarding depreciation: you should be prepared for a fairly sizeable depreciation in the next few years, at least in Ferrari terms. I would count on at least GBP30k in 3 years. This is principally because the new 458 Italia will make the F430 less desirable, but also because I think the crisis in the UK is far from over. But after those 3 years, it is likely to stabilize (unlike V12 models like the 550).

Best of luck, and I hope you'll enjoy your purchase in good health!


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post #9 of 13 Old 12-28-2009, 06:15 AM Thread Starter
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Thanks Onno, sound advice indeed and appreciated.
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post #10 of 13 Old 12-28-2009, 06:23 AM
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welcome thorpey. As others sounds like a good price.

Since a dealership, usually you get a better sorted model. Ask when the last major was done, and for the history, which I'm almost certain is par for that dealership to provide.

What have you budgeted on a yearly basis for the 430 and why?

Reason: I'm wondering what prior research you have done...can keep it simple, but from the first post, sounds like more of a simple purchase in your mind...

Hoping it goes well, and would like to see a pics of the 430

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post #11 of 13 Old 12-28-2009, 07:12 AM Thread Starter
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My reason for asking about decpreciation is that I just lost 35k on a two year old Range Rover Vogue and that's basically 50% in two years. Not sure I could stand the same with the F430 !!!

I've never owned a Ferrari before and I'm not sure if I'll fall in love and stay in love, or, if I'll decide that its too much of a specialist car for me.

I like simple, no fuss and no hassle.

I plan to use the car when its dry, love it, clean it and play with it in the garage when its not. I guess the same as most owners?

When you guys talk about servicing surely at 1000 miles it won't have needed much yet?

Cheers
Paul
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post #12 of 13 Old 12-28-2009, 07:23 AM
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ok, getting the 'vibes'.

This seems to be your first venture into a purely exotic vehicle, or for better definition, of the 'extreem' nature. There are more smaller produced examples of exotics, but I'm talking the homg group like Ferrari, and Lambo etc.

I'll let others be more specific, and I'll just generalize, but DON'T let this keep you from the experiences:: I am quite certain you'll enjoy this ownership more than you can imagine.

The 430 will depreciate for awhile. It's that new, and not one of the limited models high in demand. Not an F40, F50 or Enzo I mean, so expect this 'more produced model' to depreciate. Amount? can't say for UK/EU , but in US--remember we are fickle here-- it would go down quite a bit.

Other factors: 1k miles should translate into sorted and ready to go. but do budget 1-2k/year--NOT SAYING you'll spend that, just keep a buffer.

Only, a dealer or high end, good mech. who is factory trained, expecting, can manage your car or they may make it worse: Stay with the dealership till someone better comes along.

Didn't mention trans, so, I'm expecting a F1 here. Correct? What type brakes? CF or standard.

the car should have its major fluids changed per year, as a 'cheap insurance' --well cheap doesn't sound right, but whatever. That means trans, and engine oil. Follow the book or dealer's recom. for other stuff. I choose to do them all regardless, as I just like that...

Tires very important on that car, but not my forte to talk ,so will leave others to help, where you'll have very good help on that.

IF depreciation is your problem, these cars, until 20+ years old do not level, IMO, and then, perhaps will increase or keep value. What I'm saying, is will keep value after the big drops.

I'm quite certain that RRover will go way down, % wise, more than a Ferrari. But everything is relative, and also remember there are no true bargains in Ferraris, and garage queens are not always a good thing: don't be afraid of it, drive it, and it will probably fair better that 'saving your g'friend for the next boyfriend: Credit to Jim G.'

Guide to the Galaxy: Don't Panic
Rik -- LAH !


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1995 456 GT 2+2 SN 99987 : Roso Metalizzato [Fer 311/C] & Tan
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post #13 of 13 Old 12-28-2009, 11:38 AM Thread Starter
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Thanks for that again... Fabulous post and extremely helpful and educating. I really do appreciate your comments and already I've picked up on two things I need to ensure from my dealer.

May I ask a question that's going to sound really daft?

I have read, and watched on you tube, plenty about the handling of the F430. One review said you'd have to be a fool to "lose" control of these cars on bends etc. (If in the right F1) mode.

The TC should take care of the car for you? (they say)

Now, at 48 and always a sensible driver, I don't intend to start throwing this thing around corners at 100 MPH. But obviously I'd like to use the car and some of its capabilities, without pushing it, or indeed my driving skills over their respective limits.

Can you (or anyone else that reads this) explain to me why cornering at speed in the F430 is going to be that much safer than in say, a high end BMW or Mercedes? Or have I understood this all wrong?

Cornering / taking bends at speed has always made be a bit nervous, and when I watch people driving these cars on You Tube I think to myself that I drive far too conservatively and am overly cautious at times.

Hope that makes sense?

Thanks again
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