Ferrari is one of the most emblematic automotive brands in the world. Global success has transformed this automaker into a lifestyle brand, selling $1.5 billion to $2 billion worth of branded merchandise annually. But despite the overexposure, there are still many mysteries surrounding the brand. For example, most gearheads heard about the argument between Enzo Ferrari and Ferruccio Lamborghini that pushed the latter to start his own car company and move away from tractors. The rivalry is legendary and for good reason has been featured in several movies, books, articles and biopics, including the most recent ‘Lamborghini: The Man Behind the Legend (2022)’.
American gearheads are also familiar with the feud between Ferrari and Ford, which spanned decades and led to Ford’s victory at the 24 Hours of Le Mans against the Italian automaker in 1966. However, there are so many additional details which are still kept secret that the majority of Ferrari fans do not know. So, if you’re a Ferrari fan, read on to find out 10 things Ferrari owners keep quiet about.
10 The cost of Ferrari ownership is outrageously high
According to Ferrari Lake Forrest, the average annual cost of maintaining a Ferrari varies between $1,500 and $2,000. But that’s just maintenance, and as most drivers know, more than that goes into the cost of ownership. In 2020, LLCTLC calculated that the cost of storing a Ferrari during the winter months alone comes to $450 per month.
Meanwhile, American Car Loan announced in 2019 that oil changes on Ferraris had a starting price of $400, tires were $1,000, and belts were roughly $4,000. Additionally, Value Penguin established that the average cost to insure a Ferrari in 2023 reached $5,377 per year.
9 Ferrari spare parts are very expensive
In 2018, YouTuber Tyler Hoover traded his Acura NSX in excellent condition plus $10,000 for a wrecked Ferrari F355, but he had to change some parts to the Italian beast and that didn’t come cheap. For example, Hoover paid $222.49 for a “heat exchanger sleeve.” However, he had to change the piece on both sides, which doubled the cost.
Just for context, if you browse the Scuderia Car Parts USA website, you’ll see that a set of engine gaskets for a Ferrari 488 GT costs $1,135.16, while a short block is $35,946.46 and a box of full change cost $30,902.24. If you prefer the Ferrari Portofino M model, a battery charging kit costs $422.18 and the body computer costs $679.09.
8 Ferrari is not good as an everyday car
Unless you live in the United Arab Emirates or Monte Carlo, where thousands of locals drive supercars as everyday vehicles, using the Ferrari as an everyday car is a bad idea. These vehicles are simply not practical for daily commuting. Simply put, bad weather could damage your precious vehicle and destroy the exterior paint. Meanwhile, rough roads and potholes would damage the suspension components. As for leaving your precious Ferrari in a public parking space, it seems like a terrible idea because you never know when someone will hit or scratch your car just for fun or because they’re a terrible driver.
7 Ferrari doesn’t get high marks for reliability
According to Warranty Wise’s reliability index, Ferrari is in the category of least reliable used vehicles. The Italian luxury carmaker “scored a paltry 13.84 out of 100 on the reliability index, but with an average repair cost of £4,913.46 and the highest number of repairs of any car in the ‘index – it’s no wonder this car is rated the least reliable,’ says Warranty Wise. McLaren follows Ferraat at the top with an overall reliability score of 15.12 out of 100 and Rolls-Royce with a score of 26.00 out of 100.
Uswitch also calculated recalls going back to 1992 using GOV.UK’s vehicle recall monitoring service and assessed various known cars based on how many of them passed the Ministry for Transport (MOT) test. And they discovered that some Ferrari vehicles had poor reliability. According to Uswitch, the Ferrari 488 Spider was ranked fourth out of 15 as the least reliable supercar, the Ferrari 360 was sixth on the list, the Ferrari F355 was seventh, the Ferrari 458 Italia was 11th and the Ferrari 550 took 12th.
6 Owners cannot sell their Ferrari during the first year of ownership
If you bought your dream Ferrari car, but then the recession hit your budget, or you lost your job, you’re in trouble because you can’t sell your supercar for quick cash. The owners claim that Ferrari in the United States requires customers to sign a contract before buying a new car. A provision in that contract prohibits owners from selling their cars during the first few years of ownership.
5 Ferrari even built some questionable cars
Even the acclaimed Italian luxury carmaker had its own share of ugly ducklings. Who could forget the 1974 Ferrari Dino 308 GT4? Or the 1991 Ferrari 348ts, which lost a head-to-head test against a 1991 GMC Syclone! There’s also the boring-looking Ferrari Mondial 8 and the Ferrari Pinin concept car.
4 Even if you can afford a Ferrari, the automaker won’t sell you certain vehicles
Hermès is famous for refusing to sell its coveted Birkin bags to anyone walking into its retail stores, leaving most consumers alone. Ferrari applies the same marketing strategy and its most coveted cars are only available to selected and pre-approved customers. shark tank Star Robert Herjavec, one of Ferrari’s most loyal customers, even spoke of his surprise when he learned that Ferrari had selected him to buy one of the 499 units of the LaFerrari being built.
“People assume it’s a financial decision, whoever has the most money gets one,” says Herjavec. “The reality is … they’re using it as a reward for people who are brand loyal.”
3 Ferrari has strict ownership rules
Ferrari has some of the strictest and weirdest ownership rules. Break them and you are forever banned from owning a galloping horse. And it’s not just that you can’t sell your vehicle below market value or during the first year of ownership, you also can’t cover the badge, make modifications to the car, or even own Lambos. Floyd Mayweather Jr. and Justin Bieber have broken the rules of engagement and are now being rejected by Ferrari.
2 The Ferrari VIP list
Being on the list of preferred customers gives you access to the most exclusive models, but getting on this list is something like “Mission Impossible”. Ferrari super collector David Lee, who owns a $50 million car collection, didn’t even make the cut, according to Woodside Credi, despite owning vintage Ferraris and new models ordered directly from the factory, attend the Ferrari driving school and have a long period of time. long-standing relationship with local dealers, the Italian carmaker rejected his request.
Lee “obviously loved cars, and he definitely had the money, but apparently Ferrari looks beyond that. The exotic carmaker has worked to maintain its exclusive brand, and it’s not backing down,” says Woodside Credit .
1 Engine problems are common
In the Ferrari Chat, a user explains his misfortune with the F430 engine and how it got damaged. Meanwhile, Normal Guy Super Car explains that “Ferrari F430 and 360 engine mounts are known to degrade and collapse after about 10 years.” And Arizona resident Wade E. Morrison filed a complaint against Ferrari alleging that the Ferrari F430’s engine can malfunction due to design weaknesses.
Sources: Value Penguin, Newsweek, Twitter, Car Complaints, Woodside Credi, Wired, Ferrari Chat, Normal Guy Super Car, Beloved Brands, Ferrari Lake Forrest, American Car Loan, LLCTLC, Scuderia Car Parts USA, Warranty Wise, Car and Driver.
