This is a very interesting dis
This is a very interesting discussion. In May, 2005, I bought a 1997 550 with 11,300 miles on it for $127,000. I paid $9,500 for a one year warranty on the drive train (not knowing how the previous three owners had treated it). After $1,500 delivery to Wyoming from Phoenix and tax and license, the total "purchase" costs came to around $145,000.
DRIVING it 6,000 miles in 2004 has cost me about $1.10/ mile in additional maintenence and repair costs. That ~$7,000 figure includes a lately-discovered windshield crack that's growing from behind the mirror and can't be glued, since the crack is forming from the inside.
Much of my car's overall maintenance costs have been things like hundreds for identifying the A/C coolant leakage, caused by the previous three owners NOT driving it enough to keep the seals and valves functioning properly. Another major cost item was the diagnosis of electrical ground faults, due to 7 years of age and vibration in electrical connectors. Repairing the front air dam, after it got smashed in Yellowstone was $1,100. Oil change and review of engine compartment at year-end was about $200. A seized alternator belt pully bearing was $850 including towing.
It's impossible to get local AAA towers to haul the car to Denver since
A. they don't have the nylon tire webs to lash the car to their flatbed trucks and
B The car's value exceeds their carrier insurance limits.
My insurance runs around $850/six months. I have that with State Farm.
I hope that in 2005, the cost/mile of owning and driving the car will go down to something like 50 cents/mile. But I'm aware that around 30,000 miles, I will probably have suspension bushings and brakes and other major cost items to replace or repair...as will be the case at the 30,000 mile service interval.
It's interesting to anticipate that, eventually, this car will cost more than it's worth; And may not be worth more than a mere $40,000 on a trade in, say in 2008 on the 2006 Maranello replacement.
To me, the 550's late-90's styling is incomparable. It's a prettier car than the 575 and much more subtle than the 612's (which actually have little metal badges on their dashboards, telling the new owner that Ferrari won F1 races!)
That's what I want when I spend $275,000 on a car...little metal showoff badges, glued to the dash! Duh!
