Ferrari is not just a car brand; it’s a symbol of luxury, performance, and Italian craftsmanship. Whether you’re a first-time buyer or an experienced collector, purchasing a Ferrari is an exhilarating experience that requires careful consideration, particularly when it comes to financing it.
Our buying guide details everything you need to know about buying a Ferrari, from choosing the right model to understanding the various Ferrari financing options.
A Brief History of Ferrari
Ferrari, the iconic Italian car manufacturer, was founded in 1929 by Enzo Ferrari in Modena, Italy. Originally established as Scuderia Ferrari, the company specialised in preparing and managing race cars for drivers. However, it quickly became a prominent team in motorsports, particularly as a technical partner and eventually the official racing department for Alfa Romeo by 1933. During this period, the famous prancing horse emblem became synonymous with the brand.
In 1935, Ferrari designed its first race car under the Alfa Romeo banner, marking the beginning of Ferrari’s journey into car manufacturing. However, due to internal restructuring at Alfa Romeo, Enzo Ferrari left the company in 1939, agreeing not to use the Ferrari name for four years. Subsequently, he founded Auto Avio Costruzioni, which produced machine tools and aircraft parts during World War II. But after the war, the first car to carry the Ferrari name, the 125 S (1947), featuring a 1.5L V12 engine, established Ferrari’s reputation for crafting powerful and beautifully designed vehicles.
The 1950s and 60s saw Ferrari’s rise in both motorsports and luxury car manufacturing. The company gained fame with legendary models like the 250 GTO, which became a benchmark for performance and design. Despite internal challenges and competition, including key personnel leaving to form a rival company in 1961, Ferrari continued to thrive, particularly with the success of the 250 GTO.
In the late 1960s, Fiat acquired a significant share in Ferrari, providing financial stability and allowing the company to expand its road car business while maintaining its focus on racing. The 1970s were marked by significant achievements in Formula 1, including championship wins by Niki Lauda. However, the 1980s brought challenges, including the death of Enzo Ferrari in 1988, which led to Fiat increasing its stake in the company.
The 1990s and 2000s marked a resurgence for Ferrari in Formula 1, largely due to Jean Todt’s leadership and Michael Schumacher’s driving prowess. Schumacher led the team to numerous victories and championships, solidifying Ferrari’s reputation as a dominant force in motorsports.
In 2016, Ferrari became an independent company, separate from Fiat Chrysler Automobiles, and continues to thrive as a symbol of luxury, speed, and innovation. Celebrating milestones such as its 70th anniversary in 2017 and Scuderia Ferrari’s 90th anniversary in 2019, Ferrari remains a leading brand in the automotive industry, renowned for its racing heritage and luxury sports cars. Today, Ferrari’s legacy is celebrated worldwide, including in its dedicated theme parks in Spain and Abu Dhabi, showcasing the brand’s enduring appeal and cultural impact.
Why Buy A Ferrari?
1. Unparalleled Performance & Engineering
Ferrari is synonymous with high performance and advanced engineering. Each model is meticulously crafted to offer an exceptional driving experience, combining power, speed, and precision. The brand’s continuous innovation in aerodynamics, engine technology, and lightweight materials ensures that Ferrari cars deliver unmatched performance, whether on the track or the road.
2. Iconic Design & Aesthetics
Ferraris are not just cars; they are works of art. The brand’s design philosophy blends beauty with functionality, resulting in vehicles that are not only fast but also stunning to look at. The sleek lines, aggressive stance, and iconic details like the prancing horse logo make Ferrari cars instantly recognizable and admired worldwide.
3. Racing Heritage
Ferrari’s deep roots in motorsport (as discussed above) contribute significantly to its appeal. The brand has a storied history in Formula 1, with numerous championships and iconic victories. Owning a Ferrari connects you with this rich racing heritage, embodying a legacy of competition, innovation, and excellence. This pedigree is a major draw for enthusiasts and collectors alike.
4. Exclusivity & Prestige
Ferrari is a symbol of luxury and exclusivity, and the brand produces a limited number of cars each year, making them highly sought after. This exclusivity adds to the allure, as owning a Ferrari places you in an elite group of car enthusiasts. The meticulous craftsmanship and attention to detail in each vehicle further enhance its prestige.
5. Investment Potential
While many cars depreciate over time, certain Ferrari models appreciate, making them a potential investment. Classic and limited-edition Ferraris, in particular, often see significant increases in value, driven by their rarity and historical significance. Collectors often view Ferraris not just as vehicles but as assets that can offer financial returns.
6. Community & Lifestyle
Owning a Ferrari is about more than just the car; it’s about joining a passionate community of enthusiasts. Ferrari owners have access to exclusive events, clubs, and experiences, from track days to international rallies. This community offers a unique lifestyle, providing opportunities to meet like-minded individuals and enjoy the brand’s heritage and innovation.
7. Technological Innovation
Ferrari consistently pushes the boundaries of automotive technology. From hybrid systems like those in the LaFerrari to advanced driver assistance features, Ferrari integrates cutting-edge technologies that enhance performance, safety, and efficiency. This commitment to innovation ensures that Ferrari owners experience the latest advancements in automotive engineering.
Choosing the Right Ferrari Model
Apart from a select few models, such as the new Ferrari Purosangue, GTC4Lusso and Roma, the majority of the models available to buy from Ferrari are not designed for daily driving. Therefore, if you are a typical Ferrari owner, it will normally be a purchase for pleasure rather than your commute to work.
The following are the three main factors we consider when choosing the right Ferrari model.
Classic vs Modern Ferraris
Ferrari’s illustrious history offers a diverse range of models, from iconic classics to state-of-the-art modern supercars. Classic Ferraris, such as the Ferrari 250 GTO or the Dino 246 GT, are highly sought after for their historical significance and investment potential. On the other hand, modern Ferraris like the 488 GTB or the SF90 Stradale feature cutting-edge technology and superior performance.
When deciding between a classic or modern Ferrari, consider factors such as your intended use, budget, and personal taste. Classics often require more maintenance and come with higher acquisition costs, but they can appreciate, which is always a great bonus. Modern Ferraris, while generally more reliable and equipped with the latest features, may depreciate more quickly but offer an unparalleled driving experience.
If you are considering a classic Ferrari but are unsure about financing, we are here to help with our specialist classic car finance, which caters to all types of classic vehicles.
Coupe vs Convertible
Ferrari offers both coupe and convertible variants across its lineup. Coupes like the F8 Tributo are known for their rigid chassis and superior aerodynamics, making them ideal for track enthusiasts. Convertibles, such as the Portofino, offer the thrill of open-top driving and are perfect for enjoying scenic routes.
Special Editions & Limited Runs
Ferrari frequently releases special edition models and limited production runs, such as the LaFerrari or the Monza SP1/SP2. These models are typically more expensive but offer exclusivity and often incorporate the latest in Ferrari’s technological advancements. If rarity and uniqueness appeal to you, these models are worth considering.
Financing Options
At Above Beyond Finance, we’re passionate about helping Ferrari enthusiasts like you bring your dream car into your driveway. Whether you’re eyeing a brand-new model, a pristine used Ferrari, or a timeless classic in need of restoration, we’ve got you covered with a range of bespoke finance options.
One popular choice is hire purchase, which allows you to spread the cost of your Ferrari through manageable monthly instalments. You also have the option to own the vehicle outright at the end of the agreed term.
Alternatively, our lease purchase agreements (PCP) offer a similar structure, where you make regular payments over a fixed term. At the end of this term, a final ‘balloon payment’ ensures full ownership of the vehicle transfers to you.
For collectors or enthusiasts looking to expand their portfolio without liquidating existing assets, our equity release option enables borrowing against the value of your current car collection.
We understand the unique charm of classic Ferraris, and that’s why we offer tailored finance solutions for auction purchases and restoration projects. We ensure that every step of your Ferrari journey is financially supported.
At Above Beyond Finance, we’re not just about financing cars; we’re about making your Ferrari ownership dreams a reality.
Are You Able To Buy A Ferrari On A Budget?
Despite Ferrari’s reputation for producing high-end luxury vehicles with premium price tags, there are opportunities to acquire a well-maintained Ferrari at a more accessible price point. Below are some of the most affordable Ferrari models that provide a gateway into the brand’s exclusive world:
1. Ferrari Mondial (1980–1993)
The Ferrari Mondial is often cited as one of the most affordable models available. While it may not perform as well as Ferrari’s more famous models, it offers the prestige of Ferrari ownership. Prices for well-maintained Mondials can start at around £25,000 and go up to £40,000, depending on the condition and model year.
2. Ferrari 348 (1989–1995)
The Ferrari 348 offers a classic 80s and 90s Ferrari experience, and it’s known for its distinctive design and solid performance. Prices for a good example typically range from £40,000 to £60,000, but due to its potential maintenance costs, it’s important to ensure it comes with a comprehensive service history.
3. Ferrari 456 GT (1992–2003)
The 456 GT is a grand tourer that combines Ferrari performance with luxury and comfort. It can be found for around £50,000 to £70,000, and it’s ideal for those who want a more comfortable and practical Ferrari without compromising on the brand’s performance standards.
4. Ferrari 360 Modena (1999–2005)
The 360 Modena is one of the more modern Ferraris available at a relatively lower price point, often found in the range of £50,000 to £80,000. It offers a blend of classic Ferrari styling with more contemporary performance and reliability.
5. Ferrari F355 (1994–1999)
A popular choice among enthusiasts, the F355 offers a thrilling driving experience with its 3.5L V8 engine. With prices typically ranging from £60,000 to £90,000, it’s not exactly a “budget Ferrari”, but for what you get, the F355 offers great value for the money.
6. Ferrari California (2008–2017)
For those seeking a more modern Ferrari, the California offers a combination of style, luxury, and performance. Prices for earlier models start around £70,000, making it one of the most affordable modern Ferraris.
7. Ferrari 612 Scaglietti (2004–2011)
The 612 Scaglietti is a 2+2 grand tourer that provides comfort and space without compromising on Ferrari’s performance ethos. Prices typically start from £60,000 to £80,000, and it’s the perfect model for those looking to experience Ferrari luxury with added practicality.
What Are The Best Ferrari’s To Buy?
Ferrari offers a diverse range of models, each catering to different driving experiences and lifestyles. Here’s a breakdown of some of the best Ferraris based on specific categories:
Best for Speed: Ferrari 488 Pista
The Ferrari 488 Pista is a track-focused variant of the 488 GTB, featuring a twin-turbo V8 engine that produces 710 horsepower. It’s designed for high performance, with an emphasis on weight reduction and advanced aerodynamics, making it perfect for both the track and exhilarating road driving.
Best Hybrid: Ferrari SF90 Stradale
As Ferrari’s first plug-in hybrid, the SF90 Stradale combines a V8 engine with three electric motors, delivering a combined output of 986 horsepower. It’s the most powerful Ferrari ever produced, offering incredible acceleration and top speed while incorporating hybrid efficiency.
Best for the Family: Ferrari GTC4Lusso
The GTC4Lusso is a luxurious four-seater grand tourer, making it one of the few Ferraris suited for family use. It features a spacious interior, a refined ride, and a powerful V12 engine. The GTC4Lusso offers the perfect blend of performance and practicality, making long-distance journeys both comfortable and thrilling.
Best Classic: Ferrari 250 GTO
The Ferrari 250 GTO is an iconic classic renowned for its stunning design and rich racing heritage. Limited to just 36 units, it is one of the most sought-after collector cars in the world. The 250 GTO is perfect for those looking to own a piece of Ferrari’s illustrious history and is often considered the epitome of classic Ferraris.
Best Modern Classic: Ferrari F430
The Ferrari F430 is celebrated as a modern classic, blending contemporary performance with classic Ferrari styling. It features a naturally aspirated V8 engine and is known for its excellent handling and driving dynamics. The F430 is a great choice for those looking to enjoy a modern Ferrari that has already become a beloved part of the brand’s legacy.
Best for the Track: Ferrari 488 Challenge
The Ferrari 488 Challenge is a race-prepped version of the 488 GTB, designed specifically for Ferrari’s single-make racing series. It features a more aggressive aerodynamic package, race-tuned suspension, and significant weight reduction, making it ideal for those serious about track driving.
Best with an Unlimited Budget: Ferrari LaFerrari
The Ferrari LaFerrari is the pinnacle of the brand’s engineering and design prowess. As a hypercar, it features a hybrid powertrain combining a V12 engine with an electric motor, producing over 950 horsepower. The LaFerrari is a limited-production model, making it a highly desirable collector’s item. It is the ultimate expression of Ferrari’s capabilities, perfect for those with no budget constraints seeking the best in performance, design, and exclusivity.
Best Value for Money: Ferrari 360 Modena
The Ferrari 360 Modena is often cited as one of the most accessible and reliable Ferraris, making it an excellent value for money. It provides a classic mid-engine Ferrari experience with a naturally aspirated V8 and timeless design.
Best for Collectors: Ferrari F50
The Ferrari F50, produced in limited numbers, is highly prized among collectors. It was designed to celebrate Ferrari’s 50th anniversary and features a naturally aspirated V12 engine derived from Formula 1 technology. The F50 offers a raw, unfiltered driving experience and is a must-have for serious collectors interested in Ferrari’s heritage and exclusivity.
Best for All-Around Performance: Ferrari 812 Superfast
The Ferrari 812 Superfast combines exceptional speed, handling, and luxury, making it one of the best all-around performance cars. With a powerful V12 engine, advanced aerodynamics, and cutting-edge technology, it offers a complete Ferrari experience.
Best for Future Investment: Ferrari Enzo
The Ferrari Enzo, named after the company’s founder, is a hypercar that represents a significant milestone in Ferrari’s history. Its limited production run, advanced technology, and iconic status make it a strong candidate for future appreciation in value.
Best for Daily Driving: Ferrari Roma
The Ferrari Roma is a recent addition to the Ferrari lineup, designed as a stylish and practical GT. It combines a luxurious interior, a smooth ride, and a twin-turbo V8 engine, making it suitable for daily driving. The Roma offers a perfect blend of modern technology and classic Ferrari elegance, ideal for those who want a Ferrari that can comfortably be used every day.
Best for Classic Style: Ferrari Testarossa
The Ferrari Testarossa is an iconic model known for its distinctive side strakes and bold design. It represents the epitome of 1980s automotive style and offers a memorable driving experience with its flat-12 engine. The Testarossa is perfect for those who appreciate classic design and the nostalgic charm of vintage Ferraris.
Ownership and Maintenance
Regular Maintenance
Ferraris are high-performance vehicles that require regular maintenance to ensure optimal performance. Therefore, to maintain them, it’s essential to adhere to the manufacturer’s service schedule and use authorized Ferrari service centres to maintain the car’s integrity and value.
Insurance
Insurance for a Ferrari can be costly, given the high value and performance capabilities. Therefore, you’ll want to consider specialist insurers who offer policies tailored for high-value and high-performance cars. Coverage should include not only standard risks but also track-day insurance if you plan to use the car on a circuit.
Storage & Security
Proper storage is crucial for maintaining a Ferrari’s condition, especially for classic models. If possible, consider storing your latest purchase in a climate-controlled garage to protect it against weather extremes. Security is also paramount, given the high value and desirability of Ferraris, meaning a comprehensive security system to safeguard your Ferrari is a must.
Conclusion
Purchasing a Ferrari is a significant investment, both financially and emotionally. Whether you’re drawn to the brand’s rich history, cutting-edge technology, or the sheer thrill of driving, owning a Ferrari is an unparalleled experience.
When it comes to financing a Ferrari, we are here to help with multiple financing options. Alternatively, if you are unsure which is the best Ferrari for you or you need help finding one to buy, we also offer vehicle-sourcing services.