The fine print of the contract you sign states that you are not allowed to sell your new Ferrari during the first year of ownership. This is done to deter flippers. The owner may make a sizable profit by selling a low-mileage, first-year Ferrari, particularly when it comes to limited-edition vehicles. Ferrari wants the opportunity to buy the car back from you if you decide to sell it.
Ferrari and Lamborghini have been at odds for many years and it hasn’t let up. If you buy a Lambo and want to be on the VIP list for a limited-edition Ferrari, forget about it. It doesn’t want to mix with the bull, even if you have several Ferraris.
In This Article...
purchasing a basic Ferrari
Even getting a brand-new normal Ferrari isn’t easy, so it seems sense that purchasing a limited-edition Ferrari may be challenging. Before agreeing to sell a buyer a new Ferrari, Ferrari dealerships frequently demand that the buyer give a history of ownership.
Most buyers must demonstrate that they have previously owned Ferraris, but age can also be a consideration because many dealers won’t deal with buyers under the age of 40.
In order to obtain financing for the car, buyers will also require a sizable down payment and a credit score that meets the requirements. Not to mention that finding insurance for a Ferrari can be more difficult due to the small number of insurance companies that will cover pricey supercars like Ferraris.
Additionally, buyers must agree that any necessary repairs will only be performed by Ferrari-approved mechanics. The Ferrari warranty will expire if customers choose to have their cars fixed somewhere other than authorized garages.
Ferrari owners must also agree to refrain from changing the engine, adding bespoke bodywork, painting the vehicle a certain color (such as pink, rose, blush, or salmon), or hiding the Ferrari insignia. Modifications to pre-existing cars are not permitted and could lead to Ferrari reclaiming the vehicle from the owner. However, owners who really desire a customized Ferrari can have one created just for them by Ferrari.
Ownership Costs for a Ferrari Enzo
For practically all auto enthusiasts, owning the Enzo, Ferrari’s newest supercar, would be the ultimate fantasy. Who could blame them, though? The Enzo offers an exciting driving experience that lives up to its heritage. It was built with cooperation from Michael Schumacher himself and was designed to resemble a Formula 1 car.
The Enzo’s distinctive design is achieved by layering additional lightweight carbon and aluminum pieces on top of a carbon fiber chassis. Inside the cabin, where the driver can control the Enzo’s 650 HP V12 connected to a 6-speed F1 gearbox all the way up to 218 MPH, there is also an excessive amount of carbon fiber.
The Enzo’s standard stability and traction control, electronic brake-force distribution, ABS, and the ability to raise the front end to manage speed bumps and driveways make the vehicle user-friendly for a variety of driving situations. All of this resulted in the Enzo having a sticker price of $650,000, but you required more money to get one.
Before we even discussed ownership costs, Ferrari had to determine your deservingness if you wanted a new car. Both an F40 and an F50 had to have been owned previously, and depending on the dealership, a long history with the brand greatly improved your chances.
A well-kept, low-mileage Enzo can now sell for over a million dollars, even though they are no longer under warranty. With components and labor, an oil change for the vehicle will cost roughly $1,400, but adding in the Ferrari-recommended “services” and fluid checks may bring the total to close to $9,000.
A new clutch assembly costs $6,000 with labor, which is not bad when compared to the $40,000 cost of a complete brake overhaul. Although the cost of insurance depends on a variety of circumstances, you should budget upwards of $6,000 per year, and that’s just if the majority of your other assets are covered by the same insurer.
The Enzo is unquestionably not a cheap car to maintain if you intend to drive it, even though its cost of ownership is not comparable to that of the Bugatti Veyron. But who would actually anticipate that Ferrari’s most costly road vehicle would be in any way affordable?
If you can’t afford the $9000 oil changes for your expensive car, you can always drive it for free.
Thinking of purchasing a supercar like a Ferrari? It turns out that it’s not at all as simple as you might have thought.
Many people would put buying a fast and costly car at the top of their list of things to do if they won the lottery or received another large fortune. However, even while it would appear to be a simple task, it’s much easier said than done.
You see, automakers like Ferrari, who produce the most well-known sports cars in the world, make a huge deal out of the uniqueness of their vehicles. This implies that Ferrari must select you rather than you selecting a new Ferrari.
It is very much the definition of first-world issues, yet many Ferrari enthusiasts who could easily afford one of the brand’s cars can be left feeling resentful and ignored by the manufacturer. We’ve previously written about the little-known downsides of purchasing and owning a supercar.
Before letting buyers purchase one of its regular vehicles, Ferrari will frequently ask to examine a history of previous owners. If you’ve never had a Ferrari, your chances of driving away with a brand-new vehicle are small, and many dealers won’t consider dealing with anyone under the age of forty.
For Ferrari’s limited-edition models, it frequently doesn’t matter if you’ve had one Ferrari or 20, as web designer Bill Ceno, 55, discovered.
Despite owning four limited-edition Ferraris, all of which he purchased used and paid roughly twice the original sticker price for, Ceno admitted in an interview with the Wall Street Journal that he has long since accepted the fact that he won’t be purchasing the new LaFerrari Aperta, the hypercar’s convertible variant.
He gave no explanation when asked why, just saying he “can’t be bothered” and that he preferred buying secondhand automobiles over having to deal with the “politics” of getting a limited-edition Ferrari.
It’s not simple to obtain a vehicle like the LaFerrari Aperta; at the very least, you need to have a long history of working with a Ferrari dealer. Even if it will assist if you’re a superstar, it’s another negative mark against you if you’ve never gone to the Ferrari facility in Maranello.
How much does a Ferrari Enzo cost to purchase?
The pope didn’t just stroll down to the neighborhood dealership to purchase a Ferrari Enzo, as you might assume. Instead, the Italian automaker gave the car as a gift. This specific specimen is noteworthy because it wasn’t created during the initial production run. Only 349 examples of the hypercar were intended to be produced, according to RM, Sotheby’s Ferrari. The firm chose to make 399 examples due of the high demand.
The Ferrari Enzo’s base price of $659,330, or roughly $958,692 in today’s currency, contributed to its exclusivity. The pope’s Enzo, however, was the most expensive of all because it was the 400th vehicle the manufacture had ever made. As a result, this vehicle was not only the last Enzo, but also belonged to the pope.
In the same year that Pope John Paul II received his complimentary hypercar, the Indian Ocean tsunami had wreaked havoc. The pope made the extremely kind decision to sell the car at auction in order to maximize its value. RM Sotheby’s claims that the automobile initially brought in about $1 million in 2005.
Can the common person purchase a Ferrari?
Ferrari produces some of the most exclusive automobiles on the market, and many people believe that you must be invited to possess one. We are frequently asked if a regular person can purchase a Ferrari or if you have to already possess one to get a new one.
The only restriction on who can buy a new Ferrari is their capacity to finance it. Ferrari does not discriminate in this regard. Because models are only produced in limited quantities, placing an order and deposit early enough to be included in the production run is necessary to purchase a new automobile.
That is true for the common models, but as you will discover, some models are only available to Ferrari’s most devoted clients! We’ll get to it, but let me first emphasize that you don’t have to already own a Ferrari to purchase a new one. One can be purchased by anyone, although availability is frequently the issue.
How uncommon are Ferrari Enzos?
It’s incredible that one Ferrari Enzo should stand out more than the rest given that only 400 of them were ever made. That one is this. Ferrari typically doesn’t make its supercars available for purchase to the general public. Whatever the means
The Ferrari Enzo is street legal, right?
There are other road-legal cars besides the Enzo, but the Enzo is the only Ferrari model that uses its chassis. The Enzo’s chassis and motor are both used in the Maserati MC12, which was created when Maserati was managed by Ferrari (engine and gearbox).
The MC12 was produced in 50 units overall, and like the Enzo, it was sold to a small group of buyers. The only element from the Enzo that has been used in the MC12’s exterior design, despite its mechanical similarities, is the windscreen.
How many Ferrari Enzo models exist today?
The only one of three Ferrari Enzo units registered in the Netherlands, the crashed Ferrari Enzo incurred extensive body damage along the entire passenger side.
By:
revised on:
Especially for vehicle aficionados, seeing a smashed car is not a pleasant sight. When the vehicle is an extremely rare Ferrari Enzo supercar, of which only 400 exist globally, it is even more tragic. Sadly, one of those 400 was involved in an accident in the Netherlands, where just three of this model’s registered units exist.
According to information cited by FerrariChat, the mechanic from the Ferrari dealer in Hilversum was operating the vehicle that crashed in Baarn, close to Amsterdam. Given that the registration plates were “garage” plates, it is assumed that the dealer owned the vehicle at the time of the collision.
Who purchased the $70 million Ferrari?
You can get an idea of how much it actually costs to join this extravagant club by looking at some of the prior sales of GTOs during the past ten years. Chris Evans, a boisterous and animated British DJ and TV host, paid $17.7 million for a 250 GTO at RM Auctions in 2010.
One was purchased for $31.7 million by an unnamed buyer from a UK real estate agent in 2012. Craig McCaw, an American Telecoms typhoon, also bought one privately that year for $25 million to add to his collection of more than 400 vehicles. The following year, a GTO changed hands for a cool $52 million in another private transaction.
Then, in 2014, one of these incredibly sought-after vehicles was sold at auction by Bonhams for a second time, this time for $52 million. Three years later, former race car driver and antique car dealer Gregor Fisken paid $44 million to become a member of the exclusive GTO club.
If some of the aforementioned figures have you struggling for breath now, the events that occurred in 2018 will shock you even more. Because in same year a guy by the name of David MacNeil from Chicago, USA, the creator of the automobile accessory company WeatherTech, paid an eye-popping $70 million for a silver 1963 Ferrari 250 GTO (chassis number #4293GT). the most money ever spent on an automobile.
Let’s quickly review some of the items you could buy with $70 million (not including charity gifting or using the money to make the world a better place). You could purchase a 3,000-acre island in the South Pacific (close to Fiji) if you want some peace and quiet to unwind on and top off your tan. You could also purchase Richard Branson’s Caribbean Mansion on the gorgeous Necker Island if you’re interested in real estate. If you want to make some extra money, you can rent it out for $42,000 per night.
Or, if you’re a fan of football and would like to build your own stadium, you could design the seating yourself to ensure that you get the greatest seat in the house at every game. The immaculate 60ct Pink Star diamond, which comes from a South African mine, is also an option if you enjoy wearing jewelry. It would make a great addition to your home. You can also opt to direct and produce your own Hollywood hit if you enjoy watching movies. You could give yourself the lead role and the headlines, and you could even pick your co-star. What a wonderful idea that is!
In all honesty, it appears that the value of historic cars has increased significantly in the last few decades. First, there were significant increases in the 1980s, which were followed by significant decreases in the 1990s. A 250 GTO sold for only $2.7 million in 1994, and prices didn’t start to rise again until the late 1990s. They are still increasing today, and they are rising so quickly.
When will it end, is the obvious question. Or is it more conceivable that one of these expensive, rare Italian automobiles will soon be sold (Grimace) for $100 million?
What is it about this ancient, no-frills Italian race car that appeals to people so much?