Buying a Ferrari? Consider These Things Before You Grab Those Keys
It’s a goal that supercar enthusiasts hold dear: buying a Ferrari for their personal garage. However, the dream of adding one of these mighty Maranello machines to your toy box might be better left as just that unless you’re willing to contend with a few issues. Anyone wanting to snag the keys to a new or used Ferrari, like the F355, should consider some things, like expensive maintenance for older models.
Can anyone purchase a Ferrari?
While affluent car shoppers can buy a new Ferrari, the illustrious marque is particular about who it sells to. For instance, the iconic company may demand to inspect an interested client’s vehicle ownership history. Even then, the automaker retains the right to deny a purchase.
Moreover, should the Italian supercar maker decide a potential owner is worthy, the automaker may lock them into a contract that forbids “flipping” the model in the first year of ownership. Flipping is an issue that impacts many exclusive or sought-after vehicles. For instance, when the Chevrolet Corvette C8 first rolled off the assembly line, some of the first owners would take delivery and then sell the car at a bloated markup to someone who didn’t get a spot on the waiting list.
Is it hard to buy a Ferrari?
Buying a standard edition Ferrari, if there is such a thing, isn’t easy for new buyers. Car Keys UK says new buyers who haven’t owned a Ferrari or are under 40 will have a slim chance of buying a brand-new model.
The news gets worse with special editions and limited-release models. For instance, a web designer with a history of owning the automaker’s striking cars second-hand was turned away from buying a new model. Specifically, the culprit was a LaFerrari Aperta, a topless variant of the automaker’s hellacious hybrid hypercar. Furthermore, celebrity status or vast cash reserves won’t secure you one of the coveted cars if the Maranello marque thinks you don’t fit its idea of a Ferrari owner.
Are Ferraris expensive to maintain?
Fans who want a Ferrari without the pricetags associated with new offerings or the company’s politics can always buy a used model. However, some models are very expensive to maintain, like the iconic F355. For instance, the timing belt replacement procedure is an engine-out undertaking, which could cost $8,000.
Before you think you can budget for it, it is recommended that older Ferrari models get a replacement timing belt every five years or 30,000 miles, whichever comes first. Employing basic arithmetic, a 1995 Ferrari F355 could have required upwards of $40,000 and five engine-out procedures by now.
Can Ferrari sue you for disrespecting the car?
Believe it or not, Ferrari can sue you for disrespecting one of its models, even if you own it. According to Ideal Media, the Italian automaker sued the Canadian DJ Deadmau5 for his stylistic modifications to his 458. The ‘Purrari,’ as fans knew it, wore a custom wrap with a cat-pop-tart crossover followed by a trail of rainbows.
However, Deadmau5 probably didn’t expect the iconic manufacturer to follow up with a cease and desist letter. After a nasty back-and-forth, the Canadian DJ unwrapped and sold the car.