By   July 26, 2016

5 Cheap Ferraris

5 Affordable Ferraris

Many of us dream of owning a Ferrari. More than just about any other manufacture a car with the prancing horse lets others know that you have made it. The problem is most of us don’t have at least $200,000 to spend on a car. Is it possible to get into a car from the Italian sports car maker for an affordable price? Is there such a thing as a cheap Ferrari?

The answer is yes, yes there is. However there is a bit of a catch, which we will talk about later. Before we get into the negatives, let’s look at 5 of the more affordable Ferrari options on the used market that won’t cost you about the same as a house (depending on where you live).

5. Ferrari Dino 308 GT4

Ferrari Dino 308 GT4

The 308 GT4 was originally sold with Dino badging, but was produced by Ferrari. Like the Ferrari 308 GTB/GTS the GT4 featured a mid-mounted V8. The Dino is a 2 + 2 with a wedge shape that gives it a very classic and unique look.

It wasn’t long ago that you could find GT4s for as low as $10,000 with plenty of good examples costing around $20,000. Current market values have raised the price and now a 308 GT4 will cost you between $51,500 and $86,500 with an average value of $63,500 for a car in good condition.

4. Ferrari 348

Ferrari 348

Where the 308 GT4 is not a pure sports car, the 348 is the classic definition with it seating just two. Powering the 348 is a 3.4-liter mid-mounted V8 pumping out a strong 300 horsepower. The 348 and Mondial share many components, which helps keep 348 values a bit lower. While a 348 is a more affordable option for a car with a prancing horse, it isn’t exactly cheap. For a good used Ferrari prices range from between $40,700 and $61,500 depending on condition. The average price is $50,000 for an example in good condition.

3. Ferrari 400i

Ferrari 400i

The Ferrari 400i was the F12 Berlinetta of its time. The 400i features a front-mounted 4.8-liter V12 producing with up to 310 horsepower depending on the model year. A good Ferrari 400i on the used market will cost you between $26,000 and with an average cost of $35,000 for a car in good condition.

2. Fiat Dino Coupe

Fiat Dino Coupe

The Fiat Dino Coupe is not a Ferrari, but it does use the same V6 found in the legendary Ferrari Dino. The car come about because Ferrari needed to homologate the V6 engine for Formula 2 competition.

Because at the time Ferrari did not possess a facility capable of producing the needed 500 engines, they worked it out to use a Fiat facility. Eventually the power plants would get put into two vehicles the Ferrari Dino (originally badge as simply a Dino) and the Fiat Dino. Because of this the Fiat offers the same power plant as you find in the Ferrari, but it costs a fraction of the cost of its mid-engine counterpart. When buying a classic Fiat Dino expect to pay between $18,900 and $45,000 depending on condition. A good condition car will run an average price of $27,700.

1. Ferrari Mondial

Ferrari Mondial

The Ferrari Mondial replaced the 208/308 GT4 for the Italian sports car maker. The Mondial 8 is the least expensive of the cars on this list, but then Time magazine named it one of the 50 worst cars of all time. Much of this had to do with magazine reviews that found it was a modest performer and when new cost more than a 308/328. This has resulted in values of the earliest cars being lower than the later versions which had improved performance. However, the model as a whole never could fully shake the early perception and thanks to this it represents a very affordable used Ferrari. Current values have Mondials for sale between $16,600 and $30,000 depending on condition and the year. Expect to pay an average of $22,500 for a good early example with later cars fetching a bit more.

Can You Actually Afford a Ferrari?

Now we have shown you five more affordable options to purchasing a Ferrari (or in one case the same engine as a Ferrari). Before you take the money that you’ve been saving for a Honda Civic and put it in a Ferrari Mondial, there is something you need to think about, maintenance. Keeping up any of these cars will not be cheap (it is possible the Fiat may be a bit less expensive depending on what parts are needed) and that is the largest thing to consider when buying a used older Ferrari.

Many people have enough to buy a prancing horse, but not as many can truly afford to own one. As with any used European performance car, a pre-purchase inspection is a must and it can save you thousands in future repairs. It is also a good idea to buy the best car that you can afford, as a well maintained car will likely cost you less than a car with needs in the long run. Research repair costs and go in with your eyes wide open and you could end up with a Ferrari in your garage.

Picture Sources: Charles01, Tennen-Gas, Alexandre Prévot, Mr.choppers, Keiran White