There are times when you look at a certain car, and then look at the fleet of project vehicles you own, and realize that if you sold all of them, you could own a legitimate exotic. That’s what crossed my mind when looking at this gorgeous 1995 Ferrari 456GT listed here on eBay for $59,000 with the option to submit a best offer. This has to be peak depreciation for one of these, and I’m sure a day is coming when we’ll all look back and wish we jumped at the chance to own a gated shifter Ferrari for less than the cost of a new Suburban.
But here’s the sobering reality for one of these: no matter how well maintained, and no matter how much of a “deal” you get on the purchase price, the maintenance budget is still quite a bit higher than your average Suburban. Heck, it’s also much higher than other sports cars from the same era, like the Porsche 911 and the Acura NSX. When you decide to own a Ferrari, you’re also making the conscious decision to have service bills regularly dip into the four- and five-figure range.
Well, four-figures is a given. Five figures is practically guaranteed, especially for more invasive services. Now, there’s one thing to remember about a V12-powered model like the 456GT: there’s no engine out servicing required, what most specialist shops and dealers refer to as a “major service.” The 355 and other mid-engined models almost all require an periodic engine-out servicing to replace belts and related parts, and the bill typically kisses $10,000 or just goes all the way into the upper teens depending on the gravity of the repairs. In many ways, a model like the 456GT is surprisingly affordable to service.
I use “affordable” quite loosely. There’s no way to own a Ferrari of any vintage on a Ford Pinto budget. But a car like the 456GT may offer a way into Ferrari ownership that doesn’t carry quite the same penalties as other models that are also relatively affordable to buy. Personally, I like variety and don’t want to put all my chips in one basket. But I can certainly understand, and endorse, anyone else finding a way to make the numbers work on a classic Ferrari model such as this.
Where’s the rest of the article? There’s no actual discussion or critique of this particular car – just a pontification on Ferrari ownership costs.
Auction also has no comments about the Branded title or extent of accident damage – hence the “low” price….
I was in contact with this dealer. Seems to be a nice gentleman but recognition of the tainted title must be understood. Not many Ferrari buyers want a car with bad title let alone full risk of insurance decline or worse nonpayment when damaged. I was interested but the risk far outweighs the benefits.
Over half the photos from far away, sellers feedback rating (0).
Located in: Hollywood, Florida
I bought a 1999 456M a few years ago. My car had been in a minor accident that showed up on the CARFAX; upon inspection, was a light impact to the rear bumper at low speed. They had repainted the bumper, but a small panel behind the left tire was mangled a bit. Not much…but a used one was $350. And the left exhaust was tweaked a bit, but as it was an aftermarket ANSA stainless exhaust ($9,000), I was able to have it “untweaked”.
I had a PPI done by a highly rated Ferrari/Lamborghini specialist. Best money I ever spent. Not only did I go into the purchase knowing everything that the car needed, I was able to use the report to negotiate the price. I also learned when and at what mileage the last major service had been done. As these can be upward of $20,000, this is very important. In my case, the car has just over 30,000 miles…and the major was done at 28,000 miles.
Now, my car is an automatic, which greatly impacts the value today…like…a lot. Manual, gated cars routinely command DOUBLE the price of a similar automatic model. Oddly, the automatics were more expensive when new. But at least with the 456/456M, it wasn’t the problem plagued F1, paddle-shifted automatics from the mid-2000s.
All things considered, I think I did pretty well…paying $30,000 for a 30k mile, V12, front-engined, Pininfarina designed Ferrari.
Just a comment about PPIs (Pre-Purchase Inspections).
Best money you can spend. I did this on several cars; this Ferrari, a S65 Mercedes, a W12 Bentley, etc. I’ve used both independent specialists and dealerships. IMO, the highly-rated independents do a better job than the dealerships. The independents seem to take more time doing the inspection and take the time to review all findings with you.
If a dealer or owner is hesitant to have you conduct a PPI done…run, don’t walk, away. Know that the $500+ you’ll pay for the inspection may be a loss, but it can save you tens of thousands in unknown, after purchase expenses!
I really like these cars. Front engine, rear wheel drive with a gated 6 speed and I enjoyed driving one last spring.
For maintenance the engine points in the right direction and look at the photos with the hood up….no need for fender cover.
I’d have to learn what’s with the title. There have been some theft recoveries where the car turns up unscathed after the insurance has paid out.
entire side of car was crashed ; not pretty
As the body is aluminum…that’s considerable. Unless they can provide before repair pictures to show minor damage…literally a scrape…it’s a definite walk away.
car relisted https://www.ebay.com/itm/364571841349
This listing was ended by the seller on Tue, Nov 14 at 10:10 AM because the item is no longer available.