Ferrari is an auto manufacturer that essentially does one thing. They produce some of the sexiest supercars on the planet, period. These cars are raced around the globe and their reputation for winning has given them “street cred” as an authentic racing brand, which has helped build the demand for their road going cars for more than fifty years. Their cars transcend language with men and boys singing their praise universally across the globe.
While many dream of these cars few can actually afford them new but in the last fifteen years Ferrari has evolved to become more of a modern car company. They are building cars that require less maintenance than in past years making them easier to live with but also some models capable of being driven daily. This has lead to certain models being produced in numbers never seen before by any previous Ferrari model as most of their cars have always been produced in relatively limited numbers when compared to mainstream luxury brands like a Mercedes. It’s simply the old formula of supply and demand. Increasing the supply exponentially with only a modest increase in demand leaves us with opportunity and that’s a good thing. In the Eighties Ferrari made about 2,500 cars. In 2015 Ferrari made over 7,600 cars worldwide. Depreciation is your friend!
But before you think you are going to have a chance to get one of these exotics with Honda money don’t be fooled, as it’s still a car out of reach for the average Joe and you are likely going to have to “pony up” close to six figures and easily exceed that. I probably lost a few readers with that real fact but if you are still with me here are some to consider.
Mondial 1980-1982
308 GTB Berlinetta Coupe 1975-1985
308 GTS Targa 1975-1985
328 Berlinetta Coupe 1985-1989
328 Targa 1985-1989
348 Berlinetta (tb & GTB versions) Coupe 1989-1995
348 Targa (tb & GTB versions) 1989-1995
348 Spider 1989-1995
355 Berlinetta Coupe 1994-1999
355 Spider (Convertible) 1994-1999
355 Targa Top 1994-1999
550 Maranello Coupe1996-2001
575 Maranello Coupe 2002-2006
360 Berlinetta Coupe 1999-2005
360 Spider (Convertible) 1999-2005
F430 Berlinetta Coupe 2004-2009
F430 Spider (Convertible) 2004-2009
612 Scaglietti Coupe 2004-2011
599 GTB Fiorano 2006-2012
California (Hardtop Convertible) 2010-Present
As you can see there are 20 models to consider but still several that I left off this list, as their current values are astronomical. In this list of twenty I’d divide them into two essential groups. The first group 1-11 is older and more analog so if you are looking for things like Bluetooth, cruise control and a dual clutch or F1 transmission you are looking for love in all the wrong places. They aren’t as potent specific to power when compared to some of today’s performance cars but their ability to go fast and be fun to drive are still there. They also require a different type of maintenance that is in line with the stereotypical stories about cost and reliability or in other words, potentially very expensive. You will need to do your homework before, during and after if you want to live with any in this group and not have a bad experience but don’t let that scare you. The legwork is part of the fun because that’ll prepare you for the hunt but let me be clear as the cars in this group are clearly toys and none would be fun or make any sense as a daily driver. You’d need a chiropractor and a large offshore bank account trying to drive one of these daily and if you had either of the aforementioned you’d be able to walk straight to a dealer and buy the new 2017 488. Now that’s an amazing car!
I’d say since the cars in this first group are older it’s safe to say they might require more frequent maintenance. Additionally, maintenance on some of these cars requires major surgery just for routine servicing and mileage is also a key factor in determining the overall condition of the car. Right now that might sound like commentary from Captain Obvious as the number on the odometer always factors into the sale price and overall perception of how any car was used. You must pay particular attention to mileage with Ferraris more so than any other car other than say Lamborghini as that determines what type of servicing is needed. Ferraris can be some kind of special that way as they need to be serviced annually and every three years the engine needs to be pulled for “major” servicing and that won’t be cheap. You will typically find Ferraris with really low miles because most of the times they are the weekend toy and a person’s second or third car. It’s not uncommon to see these cars do 1,500 miles annually as they might only be driven on warm summer days and no destination further than the local theater or country club. Ferrari might be one of the top auto performance brands but their owners are some of the best posers on the planet. If it’s strolling down the Main St. Boulevard barely exceeding 30 MPH it’s a safe bet the person driving it has not seen any track time and on an adventurous day might have exceeded 55 MPH on I95. Now that’s living dangerously. Poser!
The more modern cars in my second group have benefited from better design and technology allowing for routine service that is not as labor intensive and therefore reducing potential ownership costs. There are also a few models in my first group that generally would concern me unless I had full documentation of the history on of the car from maintenance receipts to a CARFAX report. The Mondial and the 348s can be expensive to maintain and reliability issues have also plagued these cars in their earlier years. The good news when buying cars of this vintage is that many times previous owners have already sorted out all the mechanical flaws. If the seller has had the car for some time the records and their insights along with a pre-purchase inspection at the local Ferrari dealership will get you most of the answers you need.
The second group of cars 12-20 are clearly more modern and easier to live with and there’s actually two that you could drive daily. It’s still not something I’d recommend but the Scaglietti Coupe and the California actually have back seats. The Scaglietti Coupe has more useable seats with larger rear quarters but the California’s back seat is more form than function.
This second group will certainly cost more but even a 360 Modena Coupe can be found south of $100,000.00 and it’s not unreasonable to think you could get one for $65,000.00. Generally speaking the range on the cars within this group will be from about $65,000.00 to $150,000.00. That upper range is certainly beyond the reach of many but if it is something you are capable of doing your vehicle choices to enter this exclusive club will be plenty.
Membership has its privileges ranging from the camaraderie amongst fellow owners and enthusiasts to fans that appreciate the Ferrari brand or just a beautiful car. Whether that “P” stands for “performer” or “poser” you will have a chance for a unique experience. For many guys a pre-owned Ferrari represents a dream fulfilled or something to scratch off the bucket list. For others it represents the chance to get a dream supercar at a fraction of the price of when it was new.
They are impractical with mainly room for two, guaranteed to be bad on gas and expensive to service. Many will question the allure (wives, women and haters) while few will ever have the experience to either drive or own one. They are mostly drop dead gorgeous and provide theater for all to see every time you exit your door or a freeway. They can provide face-contorting acceleration and are the Supermodel you dreamed of dating. But let me be clear as affordability is a relative term and these cars can be quite the cost to maintain. I once overheard a guy at a dealership say, “the one I want I can’t afford and the one I can afford I can’t afford to maintain so I just can’t afford these things”. Ferrari is making better cars that are easier to live with but by design they are an exclusive luxury brand. In other words, they don’t want everyone to have access just like an elite club or fraternity. Do your homework and start your research. Get a subscription to one of our Buying Guides and let the fun begin. Enjoy the hunt!