Founded in 1939 in Maranello, Italy, Ferrari has a storied history that is all but unmatched in the automotive world. The cars the company makes are very much deserving of their reputation as pure and classic driving machines made for the most discerning and knowledgeable automotive enthusiast.
Throughout its history, Ferrari has been involved in the manufacturing of high performance machines, many purpose built for racing. This lineage steeped in speed and power has shaped its evolution into what the brand represents today. The prancing horse medallion is a symbol of wealth, luxury, and speed. Even the ownership of one of these incredibly storied machines is widely regarded as the pinnacle of success for many individuals.
Used Ferraris as an Investment
Any Ferrari, despite its supercar nature, is a highly reliable machine. Doug DeMuro, a highly regarded Jalopnik alum, states that not only was his 360 Modena one of the most reliable cars he ever owned, it was as reliable as an average car Honda or Toyota.
Upkeep of a Ferrari is surprisingly low cost – oil changes are only a couple of hundred bucks, replacing a clutch or the brakes is less expensive than on a Porsche or Mercedes, and there’s no 4-5 figure annual maintenance – think a few thousand dollars every few years to keep your investment in tip top shape.
With one of the highest price points of any commercially available automobile, Ferraris are frequently seen as investments as much as they are performance vehicles. Driven as weekender or vacation cars, they rarely rack up the mileage or wear and tear that a daily driver will, and this combined with the scarcity of the cars in general makes for an excellent resale value. Regardless of how many miles you clock in your Ferrari, you will still want to keep your car maintained to maximize it’s resale value if you do ever decide to part ways with it. Used Ferraris that are nearing 30 years old will still sell for north of $50,000 and even gently used newer versions can hover at the six-figure mark.
While this seems expensive by some standards, consider that a new Ferrari retails for a quarter of a million dollars or more. Buying a gently used, low mileage model can save you some serious coin. A fully loaded Toyota Sequoia can top $75,000, and a top of the line diesel pickup can be almost $80,000. Suddenly that $80,000 used Ferrari 430 seems reasonable by comparison – not to mention the sheer joy of owning one of the finest vehicles ever created.
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