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Thread: Ferrari 355 cost of ownership

  1. #1
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    Ferrari 355 cost of ownership

    Here is an interesting website. check out the cost of ownership on a used Ferrari 355. I read it and calculated if you had to do all the services and replace all the parts it mentioned it would cost you about $300 per month. that is about £200. Not too bad if you ask me. I would seriously consider getting one of these in place of a Lotus Esprit. the Ferrari Is about $15,000-$20,000 more than the Esprit, but I think it would be more fun to own

    How to buy a secondhand Ferrari 355 | Automotive & Motoring News | Car Magazine Online

  2. #2
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    I guess those costs you calculated are without taking into account petrol, insurance or taxes, amongst other things.
    Lack of charisma can be fatal.
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    They don't seem to be considering the possibility of something catastrophic going wrong which I find concerning, although I do fully appreciate the reasoning behind owning a vehicle such as this.

    A few weeks ago I stumbled across a few Bentley Continental T and Rs for around 40 000 - 50 000 pounds (this was obviously in Britain as looking for nice cars in Australia in pointless unless you want to pay three times as much as a minimum) and I thought 40-50k was a reasonable price... until I saw the list of maintenance that had been done on each of them and discovered that, for example, hydraulic problems with the suspension seemed epidemic and had a repair cost of 6000 pounds while plenty of other problems incurred a repair bill of 1-2k pounds per technical issue on top of regular service costs and replacement of wear and tear items like brakes, tires etc.

    Long story short, I love the thought of owning a vehicle that was the top of its class not so long ago but the fear of major complications arising would probably stop me from buying it.

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    Quote Originally Posted by Ferrer View Post
    I guess those costs you calculated are without taking into account petrol, insurance or taxes, amongst other things.
    That would be correct. I figured those expenses would be taken into consideration while considering any automobile purchase, of course the cost of each of those will vary on how frequently the car is driven.

    As im sure you know, you can buy Ferrari car in surance based on how many miles you drive per year and in the same sense your cost of fuel will be comparable.

    Here is just one place you can get a quote for insurance.
    Ferrari Insurance - Agreed Value Coverage

    You will find it is very affordable for 2500 miles annually.

  5. #5
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    Quote Originally Posted by VOGUE_MAN View Post
    They don't seem to be considering the possibility of something catastrophic going wrong which I find concerning, although I do fully appreciate the reasoning behind owning a vehicle such as this.
    yeah, you really need a slush fund in case something goes wrong!
    Andreas Preuninger, Manager of Porsche High Performance Cars: "Grandmas can use paddles. They aren't challenging."

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    Quote Originally Posted by VOGUE_MAN View Post
    They don't seem to be considering the possibility of something catastrophic going wrong which I find concerning, although I do fully appreciate the reasoning behind owning a vehicle such as this.

    A few weeks ago I stumbled across a few Bentley Continental T and Rs for around 40 000 - 50 000 pounds (this was obviously in Britain as looking for nice cars in Australia in pointless unless you want to pay three times as much as a minimum) and I thought 40-50k was a reasonable price... until I saw the list of maintenance that had been done on each of them and discovered that, for example, hydraulic problems with the suspension seemed epidemic and had a repair cost of 6000 pounds while plenty of other problems incurred a repair bill of 1-2k pounds per technical issue on top of regular service costs and replacement of wear and tear items like brakes, tires etc.

    Long story short, I love the thought of owning a vehicle that was the top of its class not so long ago but the fear of major complications arising would probably stop me from buying it.
    That's the key, and something I've personally discovered.

    It doesn't matter how low the buying price is, because the car will cost as much to run as the modern equivalent does (maybe more because it will break down all the time...). And then you have to answer, yes I can afford a 5 grand car, but can I afford to run a 50 grand one?
    Quote Originally Posted by FastDriver View Post
    That would be correct. I figured those expenses would be taken into consideration while considering any automobile purchase, of course the cost of each of those will vary on how frequently the car is driven.

    As im sure you know, you can buy Ferrari car in surance based on how many miles you drive per year and in the same sense your cost of fuel will be comparable.

    Here is just one place you can get a quote for insurance.
    Ferrari Insurance - Agreed Value Coverage

    You will find it is very affordable for 2500 miles annually.
    Still a Ferrari's insurance will cost more than a Ford's. Not to mention petrol or taxes.

    Post #3 is the key.
    Lack of charisma can be fatal.
    Visca Catalunya!

  7. #7
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    well have you tried getting a quote? i checked a few years back and it was only about $150/mo to insure a ferrari.

    Anticipating costly repairs is part of owning a Ferrari, you are right to point that out to people who think they won't be spending a few grand a year. as I mentioned $300 per month for regular maintenance comes to about $3600 per year. If something expensive breaks, then obviously its going to cost more.

  8. #8
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    this is why my head says porsche..
    Andreas Preuninger, Manager of Porsche High Performance Cars: "Grandmas can use paddles. They aren't challenging."

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    Quote Originally Posted by FastDriver View Post
    well have you tried getting a quote? i checked a few years back and it was only about $150/mo to insure a ferrari.

    Anticipating costly repairs is part of owning a Ferrari, you are right to point that out to people who think they won't be spending a few grand a year. as I mentioned $300 per month for regular maintenance comes to about $3600 per year. If something expensive breaks, then obviously its going to cost more.
    $150 per month is $1800, which if you add to the $3600 you calculated makes up for $5400 every year, without taking into account taxes or petrol or something potentially going wrong, amongst other things. That is quite a large amount of money.

    These cars may be cheap to buy, but they are not cheap to run. So if you think you can get one of those instead of a brand new hot supermini it's probably going to end in tears.
    Quote Originally Posted by clutch-monkey View Post
    this is why my head says porsche..
    My Audi is costing a fortune to run!

    I think I may as well sell it and get Alfa Romeo 75 or something. Surely it can't cost more to own it...
    Lack of charisma can be fatal.
    Visca Catalunya!

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    Quote Originally Posted by Ferrer View Post

    My Audi is costing a fortune to run!

    I think I may as well sell it and get Alfa Romeo 75 or something. Surely it can't cost more to own it...
    exactly! our old jeep grand cherokee cost more to run..
    well, i don't know that for sure, but it felt like it. i mean the jeep had to get a rebuild, the 911 hasn't yet..
    or maybe i don't mind spending that kind of money on a car i actually like
    Andreas Preuninger, Manager of Porsche High Performance Cars: "Grandmas can use paddles. They aren't challenging."

  11. #11
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    hmmm... my bmw was 135/mo and it was a 1993. thats not bad for full coverage, and we don't pay taxes in teh states except for the initial purchase in some states. But I guess it depends what you like to spend your money on

  12. #12
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    Isn't $135 a month a lot for car insurance?

    I pay about 680€ a year for the Audi, and that's because I was under 25 year old. Next years renewal will probably be a lot cheaper.
    Lack of charisma can be fatal.
    Visca Catalunya!

  13. #13
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    135 per month sounds about right depending on model and year?
    i pay $1600 AUD per year on the 964, but that's a specialist insurance with choice of repairer and salvage rights i guess..
    Andreas Preuninger, Manager of Porsche High Performance Cars: "Grandmas can use paddles. They aren't challenging."

  14. #14
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    Quote Originally Posted by VOGUE_MAN View Post
    Long story short, I love the thought of owning a vehicle that was the top of its class not so long ago but the fear of major complications arising would probably stop me from buying it.
    Being a Vogue owner you should be used to huge bills surely though if you've had the same luck as we've had with ours Our last bill came in at £500 for a new mirror and £3500 because mice had been eating at the electrics. It has been worked like a Land Rover though.

  15. #15
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    re expense of things "breaking", it's worse than that with a Ferrari.

    Friend had owned 911s for years, got promotion and decided to splash out on a Ferrari.
    6 month sin to ownership and service time came up.
    They called him to say the logs showed he'd been accelerating hard, gear changes and had he used it on track. "Of course" ( we did trackdays ). Ah well they said, we need to replace the disks, pads and the next level of service on the engine. An EXTRA £5K bill.

    He sold the Ferrari and went back to a 911. Porsche dont rip you off for actually USING the car
    "A woman without curves is like a road without bends, you might get to your destination quicker but the ride is boring as hell'

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