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Thread: 458 Buying advice please

  1. #1
    Join Date
    Jun 2020
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    Dan Berry
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    Default 458 Buying advice please

    Hi everyone

    I'm the lucky owner of a 2016 California T (Speciale Handling) - 9000 miles - grey exterior and cream interior - bought from Maranello 15 months ago. It's been a lovely owning experience - no issues - but seems to have depreciated more steeply than I'd imagined. I've discussed value with 4-5 dealers and the consensus appears to be that it's lost around 30% of it's value over 15 months).

    I'm now looking to trade it in and get something else. I've looked at the Portofino (lovely - but too similar to the Cali) - the 488 (nice but I'm concerned that it will depreciate in a similar way to the Cali) and have I think landed on a 458 Spider. I'd intend to go for a red/ black option - with less than 15,000 miles, and certain must-have options (lift, parking sensors and rear cam, LED wheel, race seats, stitched leather).

    I've seen a few local ones for sale around £150,000 and my questions are:

    - is it fair to believe that this sort of 458 will depreciate far less than my experience with the Cali T ?
    - any options that are considered really important for re-sale value (I'd be looking for the spec outlined above)
    - should I be looking at anything else other than the 458 Spider (it will be a weekend car really)
    - I've seen one car that is a chunk cheaper than the others (with a Ferrari dealer) as they drive it into the dealership wall whilst repairing it and had to have it repaired - it's not Cat registered but is on the Ferrari system as having been repaired as it was repaired by Ferrari in Swindon - they have knocked £15,000 off the price for an otherwise nice looking 458 (with only 9000 miles) but wondered if I should just steer clear because of the history

    Thanks so much everyone.
    Dan

  2. #2
    Join Date
    Apr 2020
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    Steve
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    Default

    458 is the last of the naturally aspirated V8 series, and a great car. Do i think it will drop?, maybe, depending on the economy, but just keep it a while, and I think they are worth £120-150k all day long if serviced and cared for. You canít buy any car expecting it not to lose value, unless itís a GTO, F40 or other special series car, and even then, thatís subjective on whether a recession hits and doesnít go away quickly.

    As for a repair... I had a black 458 that had had a similar repair, and a similar discount, bought it at £125k two years old, sold back to the dealer two years later for £145k (see, last V8 NA premium) and no problems. The dealer knows it was done right, and the car has a value, it isnít suddenly worth nothing or they wouldnít repair it and would scrap it. In the open market, you may have to disclose it, but itís a conscience call really, as if the car is right and runs true, why bother (yeah yeah, car dealer attitude here), but it is what it is, a fully sorted and looked after 458, maybe better than new as it was repaired by ferrari. Bear in mind, a £9000 repair could be a new bumper and paint, plus a light!, it isnít a full front end smash, that would be £50k plus on a very good day

  3. #3
    A348W's Avatar
    A348W is offline Rear lights like a farm gate - The Ferrari 348 Club Member
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    Adrian
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    Default

    Whilst its really crystal balling...

    I was at my local main dealer yesterday. We were chatting looking at their F8 demonstrator (in my view it is an absolutely stunning car and looks much better than a 488, which looks good in its own right; piped sound stuff aside) and a client came in to drop of his 458.

    Conversation went along the lines of Ö.F8 possibly last normal v8 engine with next maybe hybrid of some description. 458 last of the normally aspirated V8s. So ones likely to do best longer term, 458 and F8 with the 488 suffering in the middle!

    Whilst I'm no expert in anything, but does the current price difference between the 488s (pistas included) and 458 (specialse included) provide an indicator as they seems fairly close; I guess as people start to trade in the 488s for F8s and start to take delivery?

    As to must have options etc, others that have first hand knowledge will be along shortly I'm sure

    Good luck and look forward to some pictures in due course.

  4. #4
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    Jun 2010
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    NW UK
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    Peter
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    Default

    Quote Originally Posted by blueberry27 View Post
    Hi everyone

    I'm the lucky owner of a 2016 California T (Speciale Handling) - 9000 miles - grey exterior and cream interior - bought from Maranello 15 months ago. It's been a lovely owning experience - no issues - but seems to have depreciated more steeply than I'd imagined. I've discussed value with 4-5 dealers and the consensus appears to be that it's lost around 30% of it's value over 15 months).

    I'm now looking to trade it in and get something else. I've looked at the Portofino (lovely - but too similar to the Cali) - the 488 (nice but I'm concerned that it will depreciate in a similar way to the Cali) and have I think landed on a 458 Spider. I'd intend to go for a red/ black option - with less than 15,000 miles, and certain must-have options (lift, parking sensors and rear cam, LED wheel, race seats, stitched leather).

    I've seen a few local ones for sale around £150,000 and my questions are:

    - is it fair to believe that this sort of 458 will depreciate far less than my experience with the Cali T ?
    - any options that are considered really important for re-sale value (I'd be looking for the spec outlined above)
    - should I be looking at anything else other than the 458 Spider (it will be a weekend car really)
    - I've seen one car that is a chunk cheaper than the others (with a Ferrari dealer) as they drive it into the dealership wall whilst repairing it and had to have it repaired - it's not Cat registered but is on the Ferrari system as having been repaired as it was repaired by Ferrari in Swindon - they have knocked £15,000 off the price for an otherwise nice looking 458 (with only 9000 miles) but wondered if I should just steer clear because of the history

    Thanks so much everyone.
    Dan
    Can I ask what you paid for your Cali T 15 months ago? Was the 30% depreciation based on dealer selling price and trade in offer, or selling price to Likely new dealer price 15 months later?

  5. #5
    Modificato is offline Looks like a 308 to me? -The Ferrari 288 GTO Club Member
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    CPD
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    Think a 458 will be a good shout if depreciation is a worry. Last of the N/A V8’s will be a thing for a couple of generations of buyers IMO. Then they will no doubt start to look too old to younger buyers eyes.
    Note: option load is a massive factor of value of purchase and ownership now in the modern cars. Wise to look at the full options list to make your comparisons. Heavily spec’d 458’s could be way above list if lots of options were ticked and low spec cars don’t compare well side by side. A 458 Speciale is a virtual no-lose car depreciation wise IMO but you will have to the join the game of rationing your mileage and that might be a no for you. A low mileage fully optioned 458 so you can like some on it would be my pick but your tastes are your own.
    Last edited by Modificato; 17-06-2020 at 11:21 PM.

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