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chicagonoob · 17 July 2019, 03:56 AM

This is a tough one to pencil. A family member has long been an f-car enthusiast - he’s owned Testarossa, F-40 and most recently 488 GTB (2017 delivery). Sadly, he has recently been diagnosed with early onset dementia and no longer is legally allowed to drive. We are now working through assuming responsibility for affairs through various trusts, poa, etc. As many of you know, such is life with aging loved ones.

My question is, what advice would f-car (or similar) owners have for the 488? It is sitting covered in a garage on a trickle charger, and has to have less than 1,000 miles on it. Before calling the dealer and asking them, I was hoping to gather opinions / input from the forum. Should we keep the car as an appreciable asset? If yes, what type of maintenance / care should we implement for the vehicle, and what would this expense look like? Or, should we just sell it and move on.

We are fortunate in that care decisions / resources wouldn’t be influenced by any potential proceeds.

Many thanks in advance.

ckaynyc · 17 July 2019, 04:02 AM

Sell it and move on. I don't think the 488 will appreciate in value. You can make that statement by seeing what the 360s and 430s have done.

Ballzzz · 17 July 2019, 04:05 AM

Quote:

Originally Posted by ckaynyc

Sell it and move on. I don't think the 488 will appreciate in value. You can make that statement by seeing what the 360s and 430s have done.

Agreed, 458 speciale yes standard 488 no. The pista's possibly but not like the speciale.

Sad story, sorry to hear. I would move it along.

brandrea · 17 July 2019, 04:09 AM

I’m really sorry to hear about your family member Brian.

Others with more experience will be able to give advice on the car.

superdog · 17 July 2019, 04:21 AM

as far as I know that car has 7 years of free maintenance.

Wcdhtwn · 17 July 2019, 05:01 AM

When my father-in-law passed we had to deal with his ‘88 911. We looked at all the options, keeping it (but his 4 daughters couldn’t agree on who would get it), sell it to a dealer, cosign, and auction. We ended up auctioning it on bringatrailer.com and got a very good price. If keeping it and enjoying it isn’t one of the choices you are considering then auction it. Selling is a hassle with all the buyers, dealers want to seriously underpay for it’s value (yeah they have to make $$ but some offers we got for the 911 were insulting on many levels), co-signing is just another way of selling without having to do the work but with a big commission to the seller. Auctioning on that site was easy, fast, got a good price (more than $20K over what some dealers tried to offer).

1st amg · 17 July 2019, 05:29 AM

The 488 will not appreciate. If you have no intention on taking it over as an owner, I would sell the car. If you are thinking about keeping it, you get 7 yr maintenance included. You also have an option to buy an extended warranty on then car for up to 11 yrs. It's called the Ferrari Power warranty. But if you have no intention on taking over ownership, dump the car, it's being replaced by the F8 soon.

Pix · 17 July 2019, 06:41 AM

Most F-car owners will tell you it's roughly $2-3 a mile for maintenance.

ian.thomas · 17 July 2019, 06:48 AM

Keep and drive/enjoy.

If selling is necessary, I would get appraisals from multiple high end dealerships (especially non-franchised dealers). From there, take one of the offers or put it up on Bring a Trailer.

If the F40 is still around and available, I may have a buyer in Houston. Unfortunately my buyer already has a 488 Pista, so he's not looking for another 488.

Good luck and I'm sorry to hear about the situation.

dxbtousa · 17 July 2019, 06:52 AM

Absolutely sell. The 488 is not and will not become an 'appreciating asset'

Maintenance and insurance will far out weigh any benefits of owning it; unless you love Ferrari and what they stand for.

RW16610 · 17 July 2019, 07:06 AM

I'm very sorry to hear this sad news. Great advice was given above and I'm sure more will follow.

If you're not interested in experiencing the vehicle I would get the rid of it. If it was something like the F40 he once had that could be a different story.

1st amg · 17 July 2019, 07:32 AM

Quote:

Originally Posted by Pix

Most F-car owners will tell you it's roughly $2-3 a mile for maintenance.

Not the newer generation. You are grossly mistaken

chicagonoob · 17 July 2019, 07:35 AM

Quote:

Originally Posted by ian.thomas

Keep and drive/enjoy.

If selling is necessary, I would get appraisals from multiple high end dealerships (especially non-franchised dealers). From there, take one of the offers or put it up on Bring a Trailer.

If the F40 is still around and available, I may have a buyer in Houston. Unfortunately my buyer already has a 488 Pista, so he's not looking for another 488.

Good luck and I'm sorry to hear about the situation.

Many thanks to everyone for the kind words and sage advice - I think we'll be taking the path of selling in short order. We'll explore local (midwest) high-end dealers and see what the market brings. While keeping and enjoying sounds great, the practicality / logistics of doing so don't make sense.

The F-40 was sold a few years before the 488 came on the scene - it was a thing of beauty!

lear60man · 17 July 2019, 10:32 AM

I would suggest selling quickly as the driving season is almost half over in your neck of the woods. As a Fcar owner, all the advice is spot on, It will not rise in value and not driving it wil actually cause it to have more issues the more it sits.

sokoloka · 17 July 2019, 11:29 AM

Quote:

Originally Posted by 1st amg

Not the newer generation. You are grossly mistaken

Preach it, brother.

chicagonoob · 17 July 2019, 11:47 AM

Quote:

Originally Posted by lear60man

I would suggest selling quickly as the driving season is almost half over in your neck of the woods. As a Fcar owner, all the advice is spot on, It will not rise in value and not driving it wil actually cause it to have more issues the more it sits.

Thank you, and you raise an excellent point - I couldn’t tell you the last time the engine was started / the car was driven at all. Is this something that should be done weekly / monthly at a minimum? The car is located in another state which complicates things a bit...

Fredette · 17 July 2019, 02:46 PM

Though I agree the 488 won't appreciate, you'll be low balled by any dealership. I'd start by checking out the market on sites like CarGurus, etc., and try to sell as a private seller first. It sounds like it is extremely well cared for, I'm sure you wouldn't have any trouble selling as a private seller

Sent from my Moto G (4) using Tapatalk

GSDLover · 17 July 2019, 09:32 PM

Quote:

Originally Posted by chicagonoob

Thank you, and you raise an excellent point - I couldn’t tell you the last time the engine was started / the car was driven at all. Is this something that should be done weekly / monthly at a minimum? The car is located in another state which complicates things a bit...

This car has free maintenance for seven years. Find out the service history. It may be due for its annual. It is CRITICAL that the sevice is done on time. Not doing this may void future sevices.
Call the dealership. Find out the history. Records are very important with this car.
If per chance this car is in the Tampabay area, i can try to help.

Chuckred · 17 July 2019, 10:52 PM

Quote:

Originally Posted by chicagonoob

This is a tough one to pencil. A family member has long been an f-car enthusiast - he’s owned Testarossa, F-40 and most recently 488 GTB (2017 delivery). Sadly, he has recently been diagnosed with early onset dementia and no longer is legally allowed to drive.

We are fortunate in that care decisions / resources wouldn’t be influenced by any potential proceeds.

Many thanks in advance.

If money isn’t the issue and it has 7 years maintenance, why not let him enjoy what he earned. Can’t someone take him for a weekly ride until he can no longer enjoy the car. Then sell it. If money’s an issue, it’s obviously a different story!

DLRIDES · 17 July 2019, 11:08 PM

Quote:

Originally Posted by Chuckred

If money isn’t the issue and it has 7 years maintenance, why not let him enjoy what he earned. Can’t someone take him for a weekly ride until he can no longer enjoy the car. Then sell it. If money’s an issue, it’s obviously a different story!

This sounds like a great idea !

GSDLover · 18 July 2019, 12:18 AM

Its not that simple. 7 year maintenance but warranty is 3 or 4 years.
Although repairs are not likely, they need to be factored in.
Plus as previously mentioned, there are insurance issues.

Mr.Rolex1 · 18 July 2019, 02:04 AM

Quote:

Originally Posted by chicagonoob

This is a tough one to pencil. A family member has long been an f-car enthusiast - he’s owned Testarossa, F-40 and most recently 488 GTB (2017 delivery). Sadly, he has recently been diagnosed with early onset dementia and no longer is legally allowed to drive. We are now working through assuming responsibility for affairs through various trusts, poa, etc. As many of you know, such is life with aging loved ones.

My question is, what advice would f-car (or similar) owners have for the 488? It is sitting covered in a garage on a trickle charger, and has to have less than 1,000 miles on it. Before calling the dealer and asking them, I was hoping to gather opinions / input from the forum. Should we keep the car as an appreciable asset? If yes, what type of maintenance / care should we implement for the vehicle, and what would this expense look like? Or, should we just sell it and move on.

We are fortunate in that care decisions / resources wouldn’t be influenced by any potential proceeds.

Many thanks in advance.

Lgear080 · 18 July 2019, 02:53 AM

Did he have a relationship with an f dealer? Go back to them first. They prob have a buyer in line and might help - Especially if you show interest in continuing to purchase.

chicagonoob · 18 July 2019, 03:41 AM

Quote:

Originally Posted by Lgear080

Did he have a relationship with an f dealer? Go back to them first. They prob have a buyer in line and might help - Especially if you show interest in continuing to purchase.

He does - purchased all 3 from the same dealership. We’ll start there to get a baseline / see how helpful the can be / are willing to be. Thanks!

ckaynyc · 18 July 2019, 05:13 AM

The last 488 GTB on BaT had 1400 miles and went unsold at $225K.

superdog · 18 July 2019, 05:33 AM

Quote:

Originally Posted by ckaynyc

The last 488 GTB on BaT had 1400 miles and went unsold at $225K.

Jesus. I paid just shy of that for my 2013 458 spider.

Lgear080 · 18 July 2019, 05:41 AM

Good luck to you and pops. Tough and humbling road ahead. Been there twice.

Stay strong for him.

1st amg · 18 July 2019, 09:18 PM

Quote:

Originally Posted by superdog

Jesus. I paid just shy of that for my 2013 458 spider.

Exactly, what you have is heading in the way of lose no money or appreciate. The 488 is geared to take a bath. Totally different cars.

17 July 2019, 03:56 AM	#1
chicagonoob "TRF" Member Join Date: Jul 2015 Real Name: Brian Location: SE Mitten Watch: ing with interest Posts: 170	F-Car Maintenance / Advice This is a tough one to pencil. A family member has long been an f-car enthusiast - he’s owned Testarossa, F-40 and most recently 488 GTB (2017 delivery). Sadly, he has recently been diagnosed with early onset dementia and no longer is legally allowed to drive. We are now working through assuming responsibility for affairs through various trusts, poa, etc. As many of you know, such is life with aging loved ones. My question is, what advice would f-car (or similar) owners have for the 488? It is sitting covered in a garage on a trickle charger, and has to have less than 1,000 miles on it. Before calling the dealer and asking them, I was hoping to gather opinions / input from the forum. Should we keep the car as an appreciable asset? If yes, what type of maintenance / care should we implement for the vehicle, and what would this expense look like? Or, should we just sell it and move on. We are fortunate in that care decisions / resources wouldn’t be influenced by any potential proceeds. Many thanks in advance.

17 July 2019, 04:21 AM	#5
superdog 2024 Pledge Member Join Date: Oct 2011 Real Name: Seth Location: nj Watch: Omega Posts: 24,685	as far as I know that car has 7 years of free maintenance. __________________ If happiness is a state of mind, why look anywhere else for it? IG: gsmotorclub IG: thesawcollection (Both mostly just car stuff)

17 July 2019, 06:48 AM	#9
ian.thomas 2024 ROLEX DATEJUST41 Pledge Member Join Date: Oct 2006 Location: Dallas Posts: 1,305	Keep and drive/enjoy. If selling is necessary, I would get appraisals from multiple high end dealerships (especially non-franchised dealers). From there, take one of the offers or put it up on Bring a Trailer. If the F40 is still around and available, I may have a buyer in Houston. Unfortunately my buyer already has a 488 Pista, so he's not looking for another 488. Good luck and I'm sorry to hear about the situation. __________________ You're asking me how a watch works. For now, let’s just keep an eye on the time.

17 July 2019, 04:02 AM	#2
ckaynyc "TRF" Member Join Date: May 2012 Location: NYC Posts: 753	Sell it and move on. I don't think the 488 will appreciate in value. You can make that statement by seeing what the 360s and 430s have done.

17 July 2019, 04:09 AM	#4
brandrea 2024 Pledge Member Join Date: Jul 2013 Real Name: Brian (TBone) Location: canada Watch: es make me smile Posts: 73,587	I’m really sorry to hear about your family member Brian. Others with more experience will be able to give advice on the car.

17 July 2019, 05:01 AM	#6
Wcdhtwn "TRF" Member Join Date: Aug 2015 Location: Houston Watch: SkyD, SD43, GMT2 Posts: 4,975	When my father-in-law passed we had to deal with his ‘88 911. We looked at all the options, keeping it (but his 4 daughters couldn’t agree on who would get it), sell it to a dealer, cosign, and auction. We ended up auctioning it on bringatrailer.com and got a very good price. If keeping it and enjoying it isn’t one of the choices you are considering then auction it. Selling is a hassle with all the buyers, dealers want to seriously underpay for it’s value (yeah they have to make $$ but some offers we got for the 911 were insulting on many levels), co-signing is just another way of selling without having to do the work but with a big commission to the seller. Auctioning on that site was easy, fast, got a good price (more than $20K over what some dealers tried to offer).

17 July 2019, 05:29 AM	#7
1st amg 2024 ROLEX DATEJUST41 Pledge Member Join Date: Jun 2013 Real Name: nicholas Location: ottawa canada Watch: Rolex,AP,Panerai Posts: 9,461	The 488 will not appreciate. If you have no intention on taking it over as an owner, I would sell the car. If you are thinking about keeping it, you get 7 yr maintenance included. You also have an option to buy an extended warranty on then car for up to 11 yrs. It's called the Ferrari Power warranty. But if you have no intention on taking over ownership, dump the car, it's being replaced by the F8 soon.

17 July 2019, 06:41 AM	#8
Pix "TRF" Member Join Date: May 2010 Location: midwest Watch: SS Datejust Posts: 1,288	Most F-car owners will tell you it's roughly $2-3 a mile for maintenance.

17 July 2019, 06:52 AM	#10
dxbtousa "TRF" Member Join Date: May 2019 Location: dubai Posts: 672	Absolutely sell. The 488 is not and will not become an 'appreciating asset' Maintenance and insurance will far out weigh any benefits of owning it; unless you love Ferrari and what they stand for.

17 July 2019, 07:06 AM	#11
RW16610 2024 Pledge Member Join Date: Apr 2008 Real Name: Rommel Location: Toronto Canada Watch: 116710LN Posts: 8,963	I'm very sorry to hear this sad news. Great advice was given above and I'm sure more will follow. If you're not interested in experiencing the vehicle I would get the rid of it. If it was something like the F40 he once had that could be a different story.

17 July 2019, 10:32 AM	#14
lear60man "TRF" Member Join Date: May 2019 Location: Florida Posts: 178	I would suggest selling quickly as the driving season is almost half over in your neck of the woods. As a Fcar owner, all the advice is spot on, It will not rise in value and not driving it wil actually cause it to have more issues the more it sits.

17 July 2019, 02:46 PM	#17
Fredette Banned Join Date: May 2019 Location: United States Posts: 285	Though I agree the 488 won't appreciate, you'll be low balled by any dealership. I'd start by checking out the market on sites like CarGurus, etc., and try to sell as a private seller first. It sounds like it is extremely well cared for, I'm sure you wouldn't have any trouble selling as a private seller Sent from my Moto G (4) using Tapatalk

18 July 2019, 12:18 AM	#21
GSDLover "TRF" Member Join Date: Dec 2016 Location: Florida Watch: Patek 5205r-010 Posts: 638	Its not that simple. 7 year maintenance but warranty is 3 or 4 years. Although repairs are not likely, they need to be factored in. Plus as previously mentioned, there are insurance issues.

18 July 2019, 02:53 AM	#23
Lgear080 Banned Join Date: Sep 2010 Location: NYC Posts: 3,506	Did he have a relationship with an f dealer? Go back to them first. They prob have a buyer in line and might help - Especially if you show interest in continuing to purchase.

18 July 2019, 05:13 AM	#25
ckaynyc "TRF" Member Join Date: May 2012 Location: NYC Posts: 753	The last 488 GTB on BaT had 1400 miles and went unsold at $225K.

18 July 2019, 05:41 AM	#27
Lgear080 Banned Join Date: Sep 2010 Location: NYC Posts: 3,506	Good luck to you and pops. Tough and humbling road ahead. Been there twice. Stay strong for him.

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