Is a Used Ferrari a Better Purchase Over a New Porsche
Yesterday over at Jalopnik was an article that claimed it is better to purchase a used Ferrari instead of a new Porsche. Specifically the article talked about a new 911 Carrera versus a used Ferrari 360. Naturally, being a fan of both brands (although a bit bigger fan of the German brand) I took notice of the article.
The article was based on the premise of how much a new Porsche depreciates. It put this versus the maintenance of a used Ferrari and found that the Italian sports cars was cheaper to own.
Of course the first thing that stuck out to me is that a used Ferrari costs about the same as a new 911. Which of course if you use the same logic you could buy a used 911 for much less and then not get hit as bad with the depreciation.
The example Ferrari in the article was a 2004 model which cost just under $90,000. If you chose a 911 Carrera from 2004 then you can find plenty of them in good condition with fairly low mileage for under $35,000. Of course the Italian car would have a bit more performance than the base Carrera, but for not much more you could go up to a 911 Turbo and be in the same performance range. Plus the car would still cost about $30,000 less than the prancing horse, so a used 911 is starting to look pretty good.
While a used 911 will have more miles on it, the build quality is great and the cars can go for many more miles without major repairs. Plus it is much less likely to leave you stranded if you use it every day. So, if you go used Porsche over used Ferrari, the German car is the smarter financial choice (unless you are buying it as a future collectable as the Italian car is more likely to be worth more money in the future).
So, while the logic in the article is true, there may be a better option. Although it really is more about If you prefer Ferraris or Porsches.
Let us know what you would buy in the comments.