To us mere mortals, owning a Ferrari is the stuff of lottery-winning fantasy, a daydream dramatically shattered by the door slam of our Ford Focus or Volkswagen Golf. However, there are plenty of people out there who have the cash to buy one of those scarlet cars. In fact, so many that some models have a waiting list of years. Ferrari prices have rapidly risen over the years, but how much is too much?
Driving a Ferrari is special – there’s no two ways about it. The symbolism and history baked into every model grants the driver a real sense of privilege. Their performance is beyond question also, with the latest Prancing Horses being amongst the most capable machines to possess four wheels. Take a look at the new Ferrari SF90, a car that represents a new generation of advanced hybrid models. You can’t argue with 986bhp and 0-62mph in 2.5 seconds in a series production car. However, its £376,000 price tag is more difficult to swallow.
The simple fact is that there are more people with money to buy a Ferrari than the red marque produces cars. Some would argue that such a situation entitles Ferrari to charge what it likes for its own product – and it does – but at what point do you draw the line? Signs that things have gone a bit too far are highlighted by increasing levels of depreciation. A Ferrari 812 Superfast will cost you £261k new, but you can easily pick up an example from a Ferrari dealer with just over 1,000 miles on the clock for £220,000 right now. That’s before you factor in the many thousands spent on options for each car. Do you see what I’m getting at? It’s good news for the second owner, but it also reveals how much the market really thinks a Ferrari is worth.
The other side of this argument is that a new Ferrari itself is better value for money than it ever has been. A Ferrari 488 when new would have set you back £183,964 while its modern-day F8 counterpart costs £203,476. On the surface that’s an undeniable increase, but factor in inflation from 2015 and the F8 Tributo should really cost you £208,564. Ok, so celebrating a few thousand saved at this price point seems mute, but it does show that the price tag of a new Ferrari is at least consistent. The bigger question is if that number is worthwhile in the first place.
A Porsche 911 Turbo S might not be perceived to be as exotic, but its stats match the F8 and it costs £60,000 less. A McLaren 720S being a mid-engined supercar is perhaps the best like-for-like comparison, but it is £12k more costly with better on-paper performance. The Lamborghini Huracan starts at £206,000 and can match the Ferrari on badge kudos, but not on track. It would appear that Ferrari’s pricing isn’t outrageous unless compared with the Porsche.
Ferraris at the bottom of the market are a safe bet, with F355 values rising and 360 models being about as cheap as they’ll ever be. However, buying a new Ferrari has to come with the caveat of depreciation, or the realisation that the rest of the world doesn’t think the retail price quite matches the experience – that or nearly new buyers are getting a hell of a lot of car for the money.
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Keyword: Are Ferraris becoming too expensive?