458/488 Potential Purchase Advice
Discussion
johnnyreggae said:
If you need two Ferraris try different ones eg 458 Spider (scuttle shake applies to 458 & 488 logically since they are basically the same running gear) and then put the saving over a 488 SPider into a V12
I'm contemplating an Aventador to scratch the V12 itch. But I like your thinking! 
jayemm89 said:
For my money a 458 was only a worthy investment if you bought one as they touched 100K - now you've got a very inflated market, with crippling finance costs (if going that way) and the only way to truly preserve the car's value is to not drive it.
I went down the route of the 430 Scuderia because I felt it also represented a "last of" (the analogue cars), and being a special series it also means come sale time you've less competition. I still don't class it as an investment though, more an exercise in "how little can I lose while still enjoying it"
I'm in the fortunate position to not have to use finance. Having said that I'd never finance any car. Especially a toy.I went down the route of the 430 Scuderia because I felt it also represented a "last of" (the analogue cars), and being a special series it also means come sale time you've less competition. I still don't class it as an investment though, more an exercise in "how little can I lose while still enjoying it"
Geoffcapes said:
I'm contemplating an Aventador to scratch the V12 itch. But I like your thinking!
Went from a 458 to an LP-740 Aventador S - another level can't compare the two cars - the 458 is the drivers car but the Aventador is just an event. The v12 pops and crackles on an overrun is something out of this world and at £250k for one of the good ones its a bargain if it can be called one! Geoffcapes said:
I'm contemplating an Aventador to scratch the V12 itch. But I like your thinking!
My mate has a beautiful LP-700 in yellow with an amazing exhaust system which sounds out of this world, he is also contemplating sell it, think its like 190-200k, lot of car for the money.I went for a 488. Sounds fantastic, more modern car, 180k gets you dealer cars with plenty of service plan left that are basically in brand new condition.
The 458 is getting older now. Yes its a classic but that means you have more issues to deal with, more sensitive about using it and loss of value, in car tech is older, and tbh I don't think it makes sense at more than a 488 if you're actually using it. They're great cars but I wouldn't trade my 488 for one. It depends if you want an emerging classic or a fun supercar to drive about and enjoy, imo.
Only opinions! I got the below 488 a few months back and its fantastic!!!
The 458 is getting older now. Yes its a classic but that means you have more issues to deal with, more sensitive about using it and loss of value, in car tech is older, and tbh I don't think it makes sense at more than a 488 if you're actually using it. They're great cars but I wouldn't trade my 488 for one. It depends if you want an emerging classic or a fun supercar to drive about and enjoy, imo.
Only opinions! I got the below 488 a few months back and its fantastic!!!
I would not trade my 458 for a 488 and I’ve used my 458 as a daily, long driving trips away and track days. Such a fan car and though it’s older it’s my preference and it’s served me well these last four years.
Infotainment on 458 and 488 are both poor but at least with the 458 you don’t care as it sounds bloody amazing.
Infotainment on 458 and 488 are both poor but at least with the 458 you don’t care as it sounds bloody amazing.
MisterBigglesworth said:
For resale I would say a 458 Spider in rosso Corsa with carbon seats, carbon driving zone / dash inserts is the strongest spec but you'll pay a premium on the way in as well.
Whilst you can drive it in full auto roof down and pootle don't underestimate the cars willingness to encourage you to be an utter hooligan, it can turn into a exercise in restraint to not get banged up.
I think you gain more than you lose with the spider, its such a riot to drive roof down whatever stiffness you lose you wont notice.
I would buy from a horse peddler, as much for the Ferrari social benefits as anything - I already got a VIP hospitality visit to Salon Prive and the 296 GTS launch and Ferrari just sent me a lovely hard backed 2022 year review book. Factoring in the 2 year warranty, level of prep they are worth the premium and give you a lot more of a special buying experience than at a specialist. I'd recommend Harry Bowman at Dick Lovett, fantastic to deal with.
Financing I'd recommend Charles & Dean..you can get a quote off JBRs online calculator but an informal chat with a broker is well worth it.
To give you some numbers
My 458 deal when rates were at 4.9 percent
145k purchase price
50k deposit
95k balloon at 48 months
497 month interest only.
Was regulated so only cost me 58 days interest and 897 penalty to settle early.
Rates have gone up to around 8 percent so same deal would be about 800 a month now. If you put a big deposit in you'll pay and lose less than a new M3.
My old car is still for sale at DL - its the grigio ferro tailor made car.
I swapped to a F12 last summer but I miss my spider so much ill be buying a second when funds permit.
Be warned if you get a red one, expect to draw attention which is thankfully majority positive wherever you go in it - having experienced a red one vs grigio the grey car was a bit more under the radar but the red one caused mayhem.
The 458's charm is it's a bit ragged round the edges in a good way, it's not as surgical as a Porsche GT but has the character of an excited small dog that wants to play all the time. Its very hard not to find it endearing and it brings a genuine sense of joy that very few cars possess no matter their technical prowess.
Steering is something you have to get used to, sneeze and you'll change lanes, but once you are on it then it behaves like a hyperactive go kart.
Servicing was 900 normal and 1200 with aux belts.
Batteries tend to be very weak and drain in a matter of days so you absolutely need to keep it on a trickle charger all the time.
Insurance you want to go with Locktons on the Ferrari owners policy or First point. Under no circumstances try and cheap it on a meerkat policy. You want agreed values choice of repairer etc.
Only downside if you want to preserve value is mileage limitations. There are a number of value points at under 10kx over 20k and over 30k so if you want to put more than 1000 miles a year on it you are better off in a 25k mile car with the garage queen premium already removed.
Less of an issue on the 488 as it's not got the last NA premium.
This is my old car. God I miss it.
This is a great informative write up. curious on the financing aspect Whilst you can drive it in full auto roof down and pootle don't underestimate the cars willingness to encourage you to be an utter hooligan, it can turn into a exercise in restraint to not get banged up.
I think you gain more than you lose with the spider, its such a riot to drive roof down whatever stiffness you lose you wont notice.
I would buy from a horse peddler, as much for the Ferrari social benefits as anything - I already got a VIP hospitality visit to Salon Prive and the 296 GTS launch and Ferrari just sent me a lovely hard backed 2022 year review book. Factoring in the 2 year warranty, level of prep they are worth the premium and give you a lot more of a special buying experience than at a specialist. I'd recommend Harry Bowman at Dick Lovett, fantastic to deal with.
Financing I'd recommend Charles & Dean..you can get a quote off JBRs online calculator but an informal chat with a broker is well worth it.
To give you some numbers
My 458 deal when rates were at 4.9 percent
145k purchase price
50k deposit
95k balloon at 48 months
497 month interest only.
Was regulated so only cost me 58 days interest and 897 penalty to settle early.
Rates have gone up to around 8 percent so same deal would be about 800 a month now. If you put a big deposit in you'll pay and lose less than a new M3.
My old car is still for sale at DL - its the grigio ferro tailor made car.
I swapped to a F12 last summer but I miss my spider so much ill be buying a second when funds permit.
Be warned if you get a red one, expect to draw attention which is thankfully majority positive wherever you go in it - having experienced a red one vs grigio the grey car was a bit more under the radar but the red one caused mayhem.
The 458's charm is it's a bit ragged round the edges in a good way, it's not as surgical as a Porsche GT but has the character of an excited small dog that wants to play all the time. Its very hard not to find it endearing and it brings a genuine sense of joy that very few cars possess no matter their technical prowess.
Steering is something you have to get used to, sneeze and you'll change lanes, but once you are on it then it behaves like a hyperactive go kart.
Servicing was 900 normal and 1200 with aux belts.
Batteries tend to be very weak and drain in a matter of days so you absolutely need to keep it on a trickle charger all the time.
Insurance you want to go with Locktons on the Ferrari owners policy or First point. Under no circumstances try and cheap it on a meerkat policy. You want agreed values choice of repairer etc.
Only downside if you want to preserve value is mileage limitations. There are a number of value points at under 10kx over 20k and over 30k so if you want to put more than 1000 miles a year on it you are better off in a 25k mile car with the garage queen premium already removed.
Less of an issue on the 488 as it's not got the last NA premium.
This is my old car. God I miss it.
So I assume as you mentioned you terminated the financing early - so you just paid the minor settlement costs, then the 50k deposit and any interest up to that point you made was taken by them/paid to them, and you walked away thats it right?
Not quite - I got all my deposit back - so the full 50k as I traded it in for what I paid for it so didn’t have any depreciation.
Dealer paid the balance to the finance company of 95897 and the 50k went into my F12.
It’s hire purchase with a deferred payment so the deposit is your equity in the car not advanced rentals as on a lease agreement - you can settle the agreement at any point and whatever is left over after the settlement balance is your money.
Termination is different from settlement - termination is when you have paid enough on the car you can voluntarily terminate it and hand the car back with nothing more to pay - which is generally done if the car is worth less than the VT amount - on a Ferrari that is rarely the case.
Dealer paid the balance to the finance company of 95897 and the 50k went into my F12.
It’s hire purchase with a deferred payment so the deposit is your equity in the car not advanced rentals as on a lease agreement - you can settle the agreement at any point and whatever is left over after the settlement balance is your money.
Termination is different from settlement - termination is when you have paid enough on the car you can voluntarily terminate it and hand the car back with nothing more to pay - which is generally done if the car is worth less than the VT amount - on a Ferrari that is rarely the case.
I am may be looking to move on from my 488GTB in Q1 or Q2 this year if a Pista in the right spec comes up. If I am paying all the money I really want a dealer supplied car. All the ones currently for sale don't have my perfect spec.
So this post to just to advise that my 2018 488GTB may be traded in a some point this 1/2 year. Perhaps the most optioned car in the country. I have played "top trumps" with other owners on line and no one has beat it yet. I have found the 488 options list as an excel file with the OEM prices, it comes to about £130k in options + I added some more carbon pieces from MyRicambi and Capristo. Anyone interested send me an email.
So this post to just to advise that my 2018 488GTB may be traded in a some point this 1/2 year. Perhaps the most optioned car in the country. I have played "top trumps" with other owners on line and no one has beat it yet. I have found the 488 options list as an excel file with the OEM prices, it comes to about £130k in options + I added some more carbon pieces from MyRicambi and Capristo. Anyone interested send me an email.
I’ve be looking at a few forums on this but I’m just under 6’4 and I can’t get comfortable in an R8 or a McLaren 570. I’m going to hopefully look at a 488 coupe on Tuesday but what I really want is a spider. I take it I need the Goldrake seats to get comfortable ?
On the Ferrari website there is a yellow spider which I would love but it doesn’t have the lift. Annoyingly I have a slight slope into my garage and have had no problem getting 911 GTS into but it’s close. Is this lift vital as I really want to go into Europe driving if I bought one.
Many thanks
On the Ferrari website there is a yellow spider which I would love but it doesn’t have the lift. Annoyingly I have a slight slope into my garage and have had no problem getting 911 GTS into but it’s close. Is this lift vital as I really want to go into Europe driving if I bought one.
Many thanks
Edited by Chipper on Monday 23 January 08:43
kbf1981 said:
I went for a 488. Sounds fantastic, more modern car, 180k gets you dealer cars with plenty of service plan left that are basically in brand new condition.
The 458 is getting older now. Yes its a classic but that means you have more issues to deal with, more sensitive about using it and loss of value, in car tech is older, and tbh I don't think it makes sense at more than a 488 if you're actually using it. They're great cars but I wouldn't trade my 488 for one. It depends if you want an emerging classic or a fun supercar to drive about and enjoy, imo.
Only opinions! I got the below 488 a few months back and its fantastic!!!
I quite like that blue, what shade is it? TDF Blue? Is the stipe painted?The 458 is getting older now. Yes its a classic but that means you have more issues to deal with, more sensitive about using it and loss of value, in car tech is older, and tbh I don't think it makes sense at more than a 488 if you're actually using it. They're great cars but I wouldn't trade my 488 for one. It depends if you want an emerging classic or a fun supercar to drive about and enjoy, imo.
Only opinions! I got the below 488 a few months back and its fantastic!!!
kbf1981 said:
I went for a 488. Sounds fantastic, more modern car, 180k gets you dealer cars with plenty of service plan left that are basically in brand new condition.
The 458 is getting older now. Yes its a classic but that means you have more issues to deal with, more sensitive about using it and loss of value, in car tech is older, and tbh I don't think it makes sense at more than a 488 if you're actually using it. They're great cars but I wouldn't trade my 488 for one. It depends if you want an emerging classic or a fun supercar to drive about and enjoy, imo.
Only opinions! I got the below 488 a few months back and its fantastic!!!
That is beautiful. The 458 is getting older now. Yes its a classic but that means you have more issues to deal with, more sensitive about using it and loss of value, in car tech is older, and tbh I don't think it makes sense at more than a 488 if you're actually using it. They're great cars but I wouldn't trade my 488 for one. It depends if you want an emerging classic or a fun supercar to drive about and enjoy, imo.
Only opinions! I got the below 488 a few months back and its fantastic!!!
As Clarkson once said "I think I've just had a moment"
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