Owning a Ferrari is a dream for many car enthusiasts.
The bright red sports cars with the prancing horse badge are instantly recognizable symbols of luxury, performance, and status. But behind the allure of having a Ferrari in your garage, some significant downsides to Ferrari ownership must be considered.
Ferraris Come at a High Cost
Ferraris are among the most expensive cars in the world, with models costing $200,000 or more. The initial purchase price is just the start – Ferraris are beautiful but high-maintenance marques. Ownership costs include premium fuel, costly scheduled maintenance, expensive insurance, and repairs from certified Ferrari mechanics. Storage and transportation also add to the bill for Ferrari owners.
They Aren’t Very Practical
The low ground clearance, wide tires, and low seating position make Ferraris impractical for daily use. These exotic cars also have limited storage and cabin space, making them cramped for taller drivers and unusable for families or road trips. The stiff suspension delivers an amazing driving experience but an uncomfortable ride over all but the smoothest roads. And good luck parallel parking one of these supercars.
They Attract a Lot of Attention
Driving a Ferrari means constantly fielding questions from admirers and drawing looks everywhere you go. For some owners, the constant attention is an annoyance they didn’t anticipate when buying one of the world’s most recognizable vehicles. Parking a Ferrari on the street or in public lots creates understandable worries about damage from collisions or vandalism.
Maintenance is Expensive and Frequent
The high-performance engines and precision components that give Ferraris their incredible performance require specialized maintenance from authorized Ferrari mechanics. Services like oil changes and tune-ups cost thousands of dollars, even for routine maintenance. Repairs for accidental damage, on top of the regular maintenance, can quickly add up to the price of a luxury sedan.
They’re Not Built for the Track
Although inspired by Ferrari’s racing heritage, road models are built for street use. Tracking a Ferrari voids warranties and stresses components beyond their design limits. And the carbon fiber bodies and aerodynamic appendages are easily damaged in wheel-to-wheel racing. Drivers who want to experience Ferrari’s track capabilities are better off renting time in Ferrari’s specialized track offerings.
Classic Ferrari Values Can Fall
For collectors, the risk of declining values for older Ferrari models is a disadvantage. Iconic cars like the Ferrari 250 GTO can sell for over $50 million at auction. But fluctuating collector demand means those values can potentially decrease by millions overnight. Even routine use decreases the value of a classic Ferrari.
While they represent the pinnacle of automotive engineering and driving enjoyment, Ferraris requires significant financial resources and compromise to own and maintain. For most drivers, the disadvantages likely outweigh the substantial benefits of Ferrari ownership. But for a lucky few, the opportunity to put a prancing horse in their garage is still well worth the price.