But what about a used Ferrari? Letting someone else ride the steepest part of the depreciation curve and then pouncing is definitely one way of getting into your dream car at a reduced price. It’s not without its pitfalls however: with any used car purchase, there is always the nagging thought that the car may have had a hard life at the hands of a rev-hungry former owner. When that car is a Ferrari, that notion is pretty much a given – they are aimed at keen drivers and designed to be driven hard, needing regular and specific servicing to be kept on form. As with any poor selected second hand car, if it hasn’t been looked after properly the resulting bills can be crippling and can tarnish the ownership experience completely.
Buy with confidence
There is another way however. For a number of years Ferrari has been running an Approved Used program, in which selected second hand cars are given unique accreditation from the factory. It’s only available on cars up to nine years old, so don’t expect to find bargain basement Testarossas and Mondials. You will, however, be able to select from the V8 360 and F430 models (including Spider and track biased Stradale/Scuderia versions), the newer 458 Italia and California, as well as a whole host of prestigious V12 models, including the 550 and 575 Maranello, 612 Scaglietti, 599 GTB Fiorano and later examples of the 456M.
The Approved Used program covers a number of different aspects. Firstly, eligible cars are given a thorough, 190-point inspection to test the integrity of the mechanical and electrical systems, as well as the bodywork and interior. It is also given a full test drive by a Ferrari technician to ensure everything is as it should be. Any defective components are replaced with genuine Ferrari parts and a full written evaluation is provided as proof of inspection.
Secondly, the vehicles origin and maintenance history is verified. The mileage displayed is checked against the vehicles computer and service documentation, which is also thoroughly pored through to make sure the car has had all maintenance work done on time and in full. This provenance check also determines whether there is any outstanding finance remaining on the car – a potential headache for any second hand buyer.
Finally, the paintwork and interior trim are examined and restored to an ‘age appropriate’ condition and the vehicle handbook is checked, with any missing documents replaced. Cars meeting the stringent criteria set down by Ferrari are then issued with an Approved Used certificate and an unlimited mileage factory warranty of up to 24 months (12 months for nine year old cars). This in itself will provide considerable peace of mind for any potential customer, as everything except consumables is covered.
A wealth of benefits
Approved Used Ferraris also benefit from a year’s worth of roadside assistance, including a replacement car and refunded travel costs if appropriate. Ferrari also offers a range of finance and insurance packages, which can be tailored to your specific needs.
It’s worth noting that running any Ferrari is not going to be a cost-effective exercise. Aside from eye-watering fuel and insurance bills, you’ll have to contend with Ferrari parts and labour rates, with anything but the most routine servicing likely to land you with a bill the wrong side of £1,000. Still, if the temptation of owning one of your very own is too much to withstand (trust us, we understand), then take a look at our selection of the finest approved used Ferraris advertised on Auto Trader.
2005 Ferrari 575M Superamerica£164,995
Sold by Meridien Modena
Exclusivity is everything to supercar buyers, and while the list price doesn’t make it seem particularly attainable, the fact that only 559 were ever built puts the Superamerica amongst the rarest Ferraris. It’s subsequent resistance to depreciation means only a £25,000 saving over the new price, but it should prove to be a sound investment as it ages.
2009 Ferrari F430 Spider 16M167,995
Sold by Meridien Modena
The 16M was a run-out special for the F430 range. Taking the already extreme, track-biased F430 Scuderia and giving it a convertible roof gave a new edge to the driving experience.It also meant there was now nowhere to hide from the war-cry of that manic V8 engine. A truly special car which was limited to just 499 examples worldwide.
2007 Ferrari 599 GTB Fiorano£99,950
Sold by JCT600 Brooklands
While the smaller V8 models make up the volume of Ferrari sales, it’s the bigger, more expensive V12 GT cars that are often more desirable. When the 599 GTB was launched in 2006, it shocked the world with its blend of supercar savagery and long-distance touring ability. With new examples costing close to a quarter-million pounds, this 2007 model is something of a bargain.
2005 Ferrari 612 Scaglietti£69,850
Sold by Graypaul Ferrari Nottingham
Four seats and a big boot make the 612 Scaglietti a perfect family car – or at least that’s what you can try and convince yourself of. The £69,850 asking price represents a massive saving over the new cost, which would have been around £200,000. It’s got the proper front-mid mounted V12 engine too, though you wouldn’t expect anything else from a former flagship car.
2005 Ferrari F430 Coupe, F1 transmission£69,950
Sold by JCT600 Brooklands
Don’t be put off by the fact that the F430 was (until the launch of the California) the entry level into the Ferrari range. It’s a seriously capable car that moved the game on significantly from its forbear, the 360 Modena. Due to its popularity there are many to choose from that are covered by the Approved Used program.
By Daljinder Nagra
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