Does the Ferrari 488 hold value?
Over the course of three years, the Ferrari 488 Pista remained the slowest depreciating car, losing just over 5% of its value. It’s clear why so many consider a Ferrari a good investment. Those that appreciate do so significantly, while those that depreciate, depreciate slowly. As compared to other exotic car brands, Ferraris tend to hold their value well. Studies have shown that many Ferrari models depreciate at a slower rate than other exotic cars of the same caliber. While some depreciation is expected in the first decade, most models stop depreciating after about 10 years.Generally speaking, Ferraris depreciate 20% to 30% over their first year. From there, depreciation typically slows to 10% to 15% yearly, eventually leveling off over time. But this isn’t true for all Ferrari models.The United States remains Ferrari’s flagship market. In 2024, the brand sold 3,527 units, representing an increase of 12. Americans continue to embrace Ferrari models, particularly the Purosangue SUV and the Ferrari F80.Generally speaking, a Ferrari is usually more affordable than a Lamborghini. Also, Ferrari models tend to become collector’s items, making them a better investment in the long term.
Are Ferraris high maintenance?
While it can vary based on model and year, generally, the average yearly Ferrari maintenance costs range between $1,500 and $2,000. Does Ferrari offer free maintenance? As you’ve seen, the answer is yes—except where special, limited-production Ferrari models are concerned. Before you order a new Ferrari of your own, keep in mind that the Ferrari 7-year maintenance program is complimentary with each of the following vehicles: Ferrari 296 GTB.However, you will need to show all of the proper documents proving that you’ve had your Ferrari Enzo maintained properly. Ferraris can go up to about 10,000 miles before needing an oil change, and usually cost about $1,600 with parts and labor.While it can vary based on model and year, generally, the average yearly Ferrari maintenance costs range between $1,500 and $2,000. For specifics on your vehicle, reach out to our service team for a consultation.
What car is the Ferrari Killer?
You get the legendary Ford GT40 Mk II—the car that destroyed Ferrari at Le Mans in 1966 and sparked one of the greatest racing stories ever told. To celebrate 100 years of Ford, that legend was reborn as the 2005 Ford GT—a street-legal supercar that blends jaw-dropping performance with old-school soul. The current record for world’s most expensive Ferrari was set in June 2018 when a 1963 250 GTO (chassis 4153GT) was sold to David MacNeil in a private sale for $70 million.Which brings us to 2014. One of the headline cars at the Monterey auctions that year, McQueen’s GTB sold for $10. M. It was the fifth-most expensive car of the week (behind four other Ferraris, including a $38M 250 GTO), but it made big news since no McQueen-owned car has ever sold for more at auction.Classic Motors For Sale In 2018, Chassis 4153 GT, a 1963 Ferrari 250 GTO, was sold in a private transaction for a staggering $70 million, setting the record for the most expensive classic car ever sold. The buyer? David MacNeil, the founder and CEO of WeatherTech, the premium automotive accessories company.
What is considered high mileage for a Ferrari?
As a general rule of thumb, around 5,000 miles a year is considered “low miles,” and around 15,000 miles a year is considered “high miles. To make matters more confusing, exotic cars play by a completely different set of rules than your average used car. A high mileage vehicle usually means costly repairs. Cars with many miles tend to have a shorter life expectancy. There’s an increased likelihood for work brakes, transmission failure, and other worn out parts. That goes automobiles with 50,000 or 100,000 or 200,000 miles.Here is the cold, hard truth: anything over 15,000 miles on an exotic car is considered high mileage.