You Won't Believe HOW MUCH This Ferrari COST To Maintain from NEW! (FULL 21 Year History Examined)
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- čas přidán 18. 10. 2021
- Have you ever wondered if the legendary running costs of Ferrari V12s is true? Here I go through ALL the costs of this Ferrari 550 from NEW and compare them to the costs of running a V8 Ferrari 430. The results might surprise you.
I made a mistake, JayEmm hasn't actually published the video with the latest costs as yet.. but it is due soon. In the meantime here is a link to his 550 playlist, well worth watching! • Ferrari 550 Maranello - Auta a dopravní prostředky
Bought a 1990 Mk2 Golf with 50k on it 5 years ago for £650 and spent £12 on a wheel bearing so far. I think I’ll keep it.
Smart man
Yes the bills are a joke , I have an old 2000 SLK200K , never missed a beat in 22 years and cost me next to nothing , think I had a bill for £350 when I replaced the supercharger with a second hand one in 2016 ! Cheep insurance and 40 mpg ..MK2 Golf will run for ever if you change the oil every 12 months , my old GTI MK2 never missed a beat ...
You got ripped off pal I'd have done it for 11.99
And people shit on BMW. My decade old 3-series hasn't cost me a dime to maintain.
@@vapeurdepisse Calling BS on that.
I keep grinning when people look at luxury cars and ask about fuel consumption... they have no idea that fuel is just a negligeable part of the total maintenance cost...
Or even how much the car costs. 😃
Sort of.. I find that the constant, sickening need to refuel is the thing that makes it feel most like an unpleasant drug addiction.
@@MrGB1999
Yes, but a luxury or supercar car may need 3-4 times the fuel a humdrum hatchback consumes - whereas maintenance, tyres, depreciation may be ten times that or more....
Just thinking of Clarkson who had his Mercedes 600 serviced for about 15,000 £ - and that was about 15 years ago!
I laugh when I see comments like this since most people lease and fuel is the only cost bar tyres or get the extended warranty I had the same issue running into the same people as you when I was looking into buying an m2 you still got the same pillocks with the same answer … it’s a spots car why would you care smiles per gallon and all that bollocks 😂
To be honest a 10yr old BMW gives you bigger bills (well it did for me).
I owned a 2002 Acura NSX for about 13 years.
I followed the factory maintenance schedule and I don't think I spent more than $1600 in any given year and that would have been only in the more robust maintenance intervals.
My average running costs (not including insurance or gas) were far less, probably $700 a year. The cars are well built and did't fall apart.
lol, same here, except mine is a 1996 :-)
more it is as honda.
The OG NSX is basically a Honda from a maintenance standpoint.
nsx worth 100k
@@subaruamazon They dipped for a while and were available for $55-70k depending on mileage, condition etc.
Thank you for sparing us James.
The sheer amount of part failures/swaps that you have to do on these cars is absolutely absurd considering their purchase price
Granted that they are fast and handle well but so do alot of other cars that do not put their owners though the expense and hassle.
I know plenty of ex Ferrari owners who got rid of these not because they couldn't afford them but because they were tired of the hassle of keeping them up.
I'd get a Porsche. They are better driving cars and way more r.eliable. Even Jay Leno won't buy one and I'm sure he can afford it. That's telling you something.
You nailed my sentiments exactly. It's utterly absurd that a car costing this much should have so many parts break or fail.
Let's face it. All those Ferrari parts, in particular the non stressed performance parts, are just the same standard as normal cars, perhaps even of less quality. But once they put that prancing horse on it, it's open season on pricing.
Also remember that Enzo started it all by selling his cars to fund his racing. He quickly realized that there were plenty of people that were happy to pay whatever to buy a Ferrari. And let's face it, the majority can afford those outrageous charges. For us less mortal folks, it's just crazy! Both my then new VW Passat and Alfa Romeo 159, which I still both own, have cost me a tiny fraction of these maintenance costs, with very little in the way of broken items, in 12 years of ownership. Okay, no Ferraris but my wallet isn't abused!
it may sound ununderstandable to some, but that actually is part of the entertainment with such cars, to understand the car, and be able to locate the problem and sometimes also fix it yourself. Somehow rewarding, and not allways very costly if you understand and know, what you are doing. For me the Ferrari-Experience was not only owning and driving, but also maintaining, that was part of the fun with it. Just my 2 cents
I have a 2017 GT-R, and so far zero repairs on it. I am sure it handles better than those 2 ferarris but I do not look like a boss in it.. So it's a price you pay to look cool.
These sort of costs make Harry's Jag v12 rebuild look cheap!
@Scott Taylor You can easily delete your comment.
Those prices are hilarious. Unless you are the one paying.
The overwhelming majority of service on most ferraris (save more recent dct models) can be DIY'd to save thousands.
Those who are able to pay the expenses aren't hurting for money. If you can afford a Ferrari, you can easily afford to repair it.
Just like owning a boat
I wouldn’t trust those “pre sale” inspections as far as I could throw them.
Depends on how well you know and trust the mechanic
@@RandomGuyDan At any Ferrari dealership, you can never talk to the guy actually working on your car.
Only to the "adviser" at the service counter. The well trained rep who's job is to explain you the 😱 invoice.
Rip off
Haha! I finally dodged that bullet/ con of keeping Ferraris, sold both my 458 Spider and the 812 SF. They cost a bomb to maintain, garage, and insure and run. They were pleasurable enough in the beginning, but that wore off significantly after each year of keeping them. 812 SF lasted just 3 months considering I waited 2 years for my atelier spec car! Very happy to get rid of both :))
Buyers remorse, my man.
Hello, and the two Ferraris were substituted by what car or 🚗 cars?
Chetan Burman
I guess it’s a tight stingy penny pinching Indian thing!
Go and get yourself a datsun bluebird!
What do you drive now?
@@hyper_channel tesla modelXP100D, conti gtV8
Most of the parts you are listing wouldn't have needed replacing on a Honda or Toyota until 100k miles or beyond. It is outrageous that a modern car would need ball joints or engine mounts so soon.
different cars, other is manufacured 500 000 examples and other maybe 1000. Other is low power car as other is very high tuned car, other is family car and other is quite often driven very hard. Its not possbile to make excotic sport cars as reliable than toyota corolla, or it is , but then the price would be even higher...
@@coltr7561 Honda NSX? Toyota Supra twin-turbo? I think it is, rather, merely a question of attention-to-detail and good design. The NSX wasn't particularly overbuilt, but it was designed and built correctly and takes track days in it's stride. The Supra's 2JZ engine for instance was manufactured to extremely high levels of quality -- the blocks have very good metallurgy and extremely uniform tolerances (plus it's obviously extremely overbuilt and can handle many times more power than standard).
@@TassieLorenzo NSX is nowhere as high performing car, those japanese turbo cars havent been nowhere as good as their normal family cars. I dont think there has been problems with Ferrari engines usually, problems are usually somewhere else.
@@coltr7561 I owned a Celica GT4 (turbo Japanese from the 90's) that I sold with over 280,000kms on it and the only repair beyond maintenance had been a cracked windscreen washer bottle.
@@DiscoFang yeah but Celica turbo isnt Ferrari f12 level. For example nissan 300 zx twin turbo blowed both its turboes and the repair price was huge, and this was around 90 tkms. There are bad cars and good cars from every brand but usually low manufacturing numbers and very high performance level dont give good reliability, best example of this is McLaren...
If it hasn't been mentioned before, it would be interesting to know how those costs relate to mileage. The cost per mile including insurance, and fuel would be a reality check.
Figure about $20-$30 per mile all told. A regular vehicle after 10 years is somewhere in the $2 per mile for maintenance at a life time of 100,000 miles. Gas and insurance would be waaay less expensive, of course, for 'regular' car. Orders of magnitude greater when you own a supercar, much less a hypercar.
@@kyleknebel6409 lol…I’ve got 160k miles on my shelby. I’ve put tires, a battery, shocks/struts and brakes on it. I’ll keep my noisy 12 year old V-8 thank you
@@kyleknebel6409 So it totally makes sense just to rent that damn thing from Turo for $1500 a day to drive 100 miles? ($2000~3000 according to your calculation) the only downside is you have to ride it whole day lol. I guess it makes sense to join one of those clubs where you can rent and rotate cars monthly.
He told you the miles - just do the math.
Many expenses are not mileage based, some are time based like rubber seals, batteries, oil changes etc. Even mileage based expenses like suspension, tires, engine wear depend on driving patterns. Are you using it as a GT racking up high miles over smooth roads or are you taking it out over potholes on the weekend? So cost per mile isn't the perfect factor to look at
Glad I didn't have to watch JayM explaining all of this!!! ;)
Compare and Contrast: Bought my 550 in 2005 from Maranello UK when it was 4yrs old, with a full MDSH and had done 11k miles. I paid £74k. Over the next 12 years I did 15k miles in it including drives to Monaco, Lake Como and the Nurburgring. Went to umpteen FOC meetings and outings which provided access to all sorts of Ferrari exclusive events like "behind the scenes" visits to dealerships and new car launches. Even had a go at entering it in the National Concours one year (just 2 weeks after driving back from Italy - I came 4th in class). Including tyres (but not petrol or insurance) my bills in that time totalled approx £24k, or £2k/year, with services done every single year at main Ferrari dealerships so as to maintain its "perfect" service record. It never broke down or left me stranded and the only recurrent issue was leaking camshaft seals when the 3 year belt changes were done. In 2017 I sold it for....£135k. With a net profit of around £35k I'd say that was cheap and extremely enjoyable motoring....
Great work
You literally buy a lottery ticket. The exception doesn't prove the rule
Great result. What I don't understand about these cars is the owners are generally successful people who are astute with money. They are happy for the Ferrari machine to take their pants down when ever anything needs doing. I suppose such a spectacular marque demands it. Not for me. It entirely puts me off.
@@davewheeler7679 totally agree, I'd have to be worth way over £100million to buy a Ferrari or any supercar and be making £5million a year. If you just have a few million in the bank you'd be a mug to think you're rich enough.
That is a wonderful story. Wow!
I was lucky to own a 550 back when the car was only 5 years old, and in 3 years of ownership it cost almost nothing to run. Just fuel (lots of it, sure), tires and scheduled servicing. Nothing ever broke down, nothing ever leaked. This was by far the most reliable car I had owned at the time, and I got it up to 38,000 miles. The first owner of this red one must have been unlucky.
I think the moral of this story is, Ferrari engineer crap cars.
Yeah you'd think they'd try to pride themselves on engineering and quality and prove how reliable they can make their cars, would sure as hell justify the price.
But I guess they gotta make the overhang by selling parts and labor.
They’ve done pretty well out of engineering “crap cars”
Maybe the ownership experience explains there success?
@@julianstiff4685 Ownership experience being "rich kids buy Ferrari because brand image"
Although you need to have the cash to maintain them upfront, its generally much cheaper to own Ferraris than “better” cars because the better cars depreciate like a stone.
And yes don’t own one if you expect Toyota reliability, buy a Toyota.
I was thinking the same. €160,000 for a car and then I’ve to dump into it forever. If they tried to charge me €1000 for an oil change I’d punch the service manager
Ferrari seems to be upholding its reputation for building wonderful driver experience cars that require extensive and costly pit stops in the repair shop.
very true...but then garages just add their bit to it...the current gong going for over £100/hr ... day light robbery...
@@sixpotshot - Agreed. About 5 years ago I met an ex-Ferrari dealership mechanic who told me that he left because the dealership pressured its mechanics to make every job at least &1K.
Motivation to learn how to wrench on it yourself.
@@the_end_boss that's for people who can't afford them
I just dont understand why owners put up with mediocre reliability at that price point for purchase.
The only real answer is bragging rights about being able to afford be ripped off like that.
at the PC Francorchamps we had a chap with a GT3RS an he also had some F competezzione something.
We were having lunch in Stuttgart, in the Christophorus restaurant.. and somebody asked "how do they compare?"
He dryly answered:
"I drive to the track in my GT3RS, I run it hard all day and I drive home in it.
The Ferrari trackday is different: I drive to the track in my Cayenne Turbo towing the Ferrari on the trailer.
I offload the Ferrari off the trailer and run it for 4-5 laps, maybe 8 if I'm lucky
When it breaks down I call Ferrari assistance, they come collect it at the track and I drive home in the Porsche Cayenne"
What would have been an interesting addition at the end of this video is a quick comparison of average annual running costs to a couple of British sports cars, Jaguar or Aston Martin for example. Perhaps another video...
Astons are British Ferraris. They tend to cost double what Jag services and parts are, for the mostpart. I ought to know. I have both. ( 2018 F-Type SVR convertible, every option and Carbon upgrade except the carbon head rollbars and the trunk CD-changer, and a 2016 Aston Martin V8 Vantage GT, also loaded with all the carbon options). The Jag's oil change is $360 CDN, the Aston's is $900. A full service for the Jag is @1400, the Aston is $2500.
I have 1978 Esprit and service & repair costs are low as most parts are normal off the shelf parts. Even the Lotus specific parts are reasonable.
I budget around Aus$5-7k a year for my 2002 575M. Some years it's been less, some years more. I've had the car 7 years and probably spent A$40k, 30k on maintenance, 10k on body and interior to keep it in top nick. However, I'm about to do the premium service and that's going to cost approx A$17k.. which is a lot. For replacing fuel lines, pumps, brake lines etc. Around 50 parts which cost A$12k. Labour around 5k. Does the car need it? Probably not all of it now, but its almost 20yo and has 60,000km on the clock. I drive it regularly and often quite hard, so I want to know it's in great condition. But, as any Ferrari owner will tell you, anything can go wrong at any time and parts are expensive. My Ferrari dealer does the servicing and their labour rate is less than my MB dealer. I had an MB CL55 and that cost big money too.
I love driving this car, much more than either the 355 or 430 that I had. It drives superbly, is comfortable and when you floor it to 7,500 in 2nd and 3rd it's a rush. The Maranello (550 & 575M), is for me, one of the best looking Pinifarina designed, front engined V12 Ferraris. You can see the 250/275/365 lineage. A modern classic and still a bargain to buy today, relatively speaking. No supercar, once out of warranty, is cheap to own. Imagine owning an MC F1. There's a major service that costs over 75k! They recommend replacing the gold foil in the engines bay. WTF.
Is it worth it after all you pay to keep it on the road ? I was thinking of getting a 458 in the future .
@Cameron Rowe I guess, that depends on your financial position. For me, it's worth it. Every time I go into the garage and see it, whether it's under a cover or freshly washed, it puts a smile on my face. I look for sunny days to take it out. It gets driven, no point in not using it. And then. When you really do get a chance to open the taps, wow.. nothing like a Ferrari na V12 or V8 on full chat. I recently did a 2000 km drive around Tasmania, where the roads are amazing. What a great memory. You won't regret it. As long as the car you buy has a good history. But be prepared to spend money on it. It's not if, but when. Safe driving.
Part of the "badge of honour" for owning a Ferrari....lots seem to glory in it as if it's a right of passage. Does nothing for me to be honest but each to their own. Pay the bill & get the reciept to keep the all important service history up to date....none of which proves if it is actually a decent car or not!
They are not well made even today. rare Ferraris are millions and its only for the mega rich to even engage in. Buy a Porsche and enjoy the thrill of German engineering not Fiat.
@@graham6229 maybe I had a bad experience but the 3 x 911s I've owned cost a bloody fortune to run
Tell that to the Porsche owner( 930?) that had a £1000 service and the gear lever come off in his hand stranding him on the hard shoulder..
@@graham6229 I had my Fiat engine overhauled. 4 cilinder, costs 2800 euro. The shop was located near to a very large Porsche centre. The shop owner told me that to overhaul a Porsche engine the cost is around 10k and he did of whole lot of them. The Porsche dealer triples that amount to rob 20k for each engine overhaul. Roflol, of course a Porsche never needs an engine overhaul right? They did not build engines that had material loosening from the cylinder tubes, that's fairy tales right?
Porsche is a shit drive compared to a Ferrari. I've owned and driven many Ferraris, and driven man Porsches. Ferraris are far more special and you instantly feel that; and there is simply no comparison in the sound, especially the NA engines. Ferraris are a mistress; porsches are an old lady.
Brilliant video Jack but the reality is that unless you’ve got plenty of dosh, don’t stretch for a Ferrari. Fascinating, especially some of the eye watering bills.
I’m a car nut, and my brother has had a series of Ferraris. They are lovely in their own way, but I’m so pleased he owned them, and I just got to enjoy a ride once in a while. I think one of the services on his 456 was £12000!
The contrast to your renovation of the tomato is stark!
The old saying ‘if it f**ks floats or flies, rent, don’t buy’ probably applies to Ferraris too, I mean they kind of fly right?
£12000 does seem a bit silly, yeah the parts are expensive but until recently they weren’t actually very complicated mechanically.
Very nice video!
I always appreciated very much both the 456 as well as the 550/575 in terms of styling.
However, that Scuderia, absolutely isn't my cup of tea, especially the rear end with those too high up exhaust exits.
I wonder how much warranty Ferrari offered when they were brand new. Let's say that if you really used it a lot as a daily driver, were those expenses then covered by them? It is not that the more amount of cylinders, the more troubles you will automatically have technically speaking. It kind of strikes me how much of a cost those cars still are, taking into consideration the low mileage...
EIT: what is included in the "standard service"? And considering the 430, that is really nuts. Absurd how many issues it had straight right after it was bought in fact, not even at 20K miles???? Were the ball joints really shot? Or was that advised in order to keep the warranty? Or how can I interpret this? Does Ferrari never ever take their own responsability and recognize it is a fault from the factory? No technical overhauls or revisions that come at a no cost?
Cheers from Belgium!
That works out to just over 2000 pounds per year. Not bad IMO for exclusive Ferrari V12 ownership, keeping the car in constant tip top condition.
I'd like to see the cost including insurance...
Check Land rover maintenance costs....it could be almost the same
@@Freelandrew definitely. £3k A year for an 09 Rangie
You pay it twice over the years.
I was thinking the same thing, Rick B.
Yes had both , which is Why I now run and love my 911 turbo cab , I've never looked back....
Jack. Another brilliant video with a great "Holy smoke" list of costs to own and run these beautiful cars.
I wouldn't expect the number of cylinders to make much difference to maintenence costs. Most of the components that fail or need replacing are present on both V8s & V12s in equal numbers, apart from a few things like spark plugs.
As a 348 owner I can say there are 2 ways of keeping your Ferrari going. One is taking the car to the Ferrari dealer or specialist for keeping it in perfect condition. The other is doing that yourself and living with a not that perfection level of maintenance. The first way gives you a pleasant ownership and peace of mind if you can afford the great cost. The second gives you many many headaches and knowledge about your machine while saving big amounts of money and even making “affordable” a car designed for ripping millionaries. Needless to say modern Ferraris are not easy for DIY’s because electronics and sophistication
I would say this is a 'swings and roundabouts' situation. While you may save money early on by doing the maintenance yourself, you will lose out on resale value compared with a similar model that has a full dealer service history.
Love the the 348
@@jamiespinks3657 You are right, but I personally don’t care about the resale value because I pretend to keep the car with me forever
I have a 2008 Mitsubishi Evo X which I've owned since 2012. It has almost 310,000 km on the clock. Tuning costs aside (since they were all my choice and not necessary to keep the car running), I've spent maybe $20k in 10 years, $15k of which was for an engine rebuild at 290,000km, and the rest for servicing and consumables such as tyres. I paid $42,500 for the car and I'm the 2nd owner. It seems to me that if I was spending Ferrari money, I'd want a car that didn't require $20K+ parts after only 20-30 thousand miles.
Ive seen a video of a garage holder of supercars. The guy was asked which of all the cars he would prefer. His answer was 'none of them'.
Wow 310k km. Do you expect it to keep running till the 500k mark? Just curious...
@@jotabarberaIV I can but hope... it's mostly done long kms without the stresses of city driving, and I don't often thrash it, but it could still do with a trans rebuild. Everything else is still working fine, touch wood.
@@emlix1 that's fascinating. Thanks for sharing
Really insightful. Thanks.
I bought one of the 35 RHD Manual 456M's, Could I afford to buy it yes , could I afford to run it no, but as Chris Harris in a Video was told when he went to buy a RHD 456M Manual the dealer, who was a mate of his, refused to sell it to him said everything breaks, how right he was. My car lost the valve guide issue and 27,000ks it need all the valve guides replaced. in the the 3 years I owned it 18 months were in workshop I spent 15,000UKP. and it didn't stop there, don't bet me started. it was a mainstream car manufacturer they would be extinct
A classic Ferrari V12 saying " buying a V12 Ferrari is only the deposit"
This purchase was like buying a boat, the two best days were The day I bough it, and the day I sold it.Unlike JayEmm I sold the Ferrari and Bought a Lotus EVORA 400 never looked back
What a piece!!!
@@ryanjofre what a price!
@@lordemed1 Exactly
Another reminder for why I chose a new Mach 1 for 6 six speed manual V8 thrills...affordable, low maintenance with cool heritage.I love fERRARI but alas I don't want the hassles ...great videos really enjoying the content and watching your channel grow ..cheers from Oz. ps qualification if I could afford it I would have a 458....
The 550 equates to just over £2k per year in maintenance costs. That doesn’t sound unreasonable to me for a big V12 Ferrari, and I seem to remember this one having a properly high mileage…90k or so?
4000 a year is nothing for a normal car..
exactly. how much is a diesel eurobox in leasing costs? like 300-400/month?
@@geoffreybarrett5000 Given that the average car cost before COVID was $40,000, $4,000 does not sound like nothing.
High miles probably made the car more reliable than if it was not being used...
I'll stick to my 328gts. Even after 21 years and 62 000 miles, just minor issues which I've fixed myself. I'm no mechanic.
Only 62K?. Haha
@@ramtrucks721 might keep going.
Average about 2,600/yr for the V-12. Not insane, if you average it; just don't be there when the big bills land.
The thing that scares me about supercar ownership, isn't the average running cost but the big bills that can surprise you. Very interesting breakdown! Thanks for sharing 👍
considering the high purchase price its not as big a bill relatively seen. still would not want to pay for one
This Ferrari is not even a super car... its a GT.
@@stijnvandamme76 to be fair, I'm kinda in agreement with you if we're to be pedantic about it. But for a lot of people it is a supercar and would be allowed in many supercar clubs. For the purpose of my comment, take it as "supercars (and GTs from supercar manufacturers)".
Excellent video.😎
Very enlightening, Jack. Makes you realise what you are probably going to get, if you buy a cheap supercar.
Owned a 550 from 2009 to 2013, bought the car with 36,000 miles on it and when I added up the service invoices they came out to almost exactly £35k all with main dealers - I thought I would save a lot of money by using independents but I did about 12k miles and spent almost exactly £12k which included items like restoring the switchgear (went sticky) and the underbonnet felt was replaced with 2 wheels which just did not retain pressure any longer.
When I sold the car it was in excellent condition and bought by a specialist who spent most of day inspecting it including compression tests, within weeks I had to call the dealer to sort out transfer of a private plate, he told me that a head gasket failed at speed and caused serious engine damage - my luckiest escape
had a 575 from new. sold it w 17k on the odo. it was painful.
Damm right you were.
Dude, you were ripped for that 35k. Totally taken for a ride under the guise of "ooooh it's a Ferrari and must be special".
My father and I have owned several ferraris from a 308 to a 458. Never a v12 though. We work on the cars ourselves and source the parts from various sources. Honestly it's been rather inexpensive to maintain. On the 458 the first thing we did was to remove the ceramic disc brakes and put in aftermarket steel ones which saves 20k or so. We of course kept the ceramics. The parts are very expensive, but much of the service costs are the labor and the dealers are twice as expensive as a qualified ferrari tech. If you are the type of mechanic that has patience and doesn't have a tendency to break unrelated items when working on repairs then these cars are not that bad to maintain.
I mean if you replace parts with cheaper alternatives anything can be looked as cheap to maintain. I guess some people care about the performance of the cars. Its like people that replace the air suspension on a Mercedes S-Class to save money and completely change the ride quality. Sure its cheaper, but that's not the same car anymore.
@@deanwilliams433 I Completely agree. With the disc brakes though the steel ones are much better for the road. The carbon ceramic rotors need to be warmed up (significantly) before they actually out perform the steel ones.
@@shmirdonkin I agree, I heard the carbon ones are for racing mostly.
I said this many times to friends that looked at cheap luxury cars. You might have paid 70k for a car that was 200k new, but the parts and maintenance don't depreciate like the car did, so the expected costs are in line with buyers that could afford 200k in the first place. If I have millions of dollars and drive 300-600k cars, I don't really look at a 20k car repair bill the same as someone that bought that car with a loan.
I'm a software developer and could afford a used Ferrari, but I'm not a multi-millionaire so I will keep this as a dream for now.
So both cars had their exhaust manifolds done. That's crazy.
I’ll never own one but it doesn’t stop me appreciating how nice they are. I own a Lexus ISF so besides servicing and normal running costs, tyres, discs and pads etc nothing breaks and it’s 11 years old.
Why can’t Ferrari manage to do this with their cars considering the price point? 🤔
It’s the same in the motorcycle world. With a Honda you get the same performance as a Ducati, with 25% of the running costs.
I would personally NEVER own anything Italian. ‘Flair’ is not an excuse for poor quality.
Simple economics. Because ferrari only sell a few thousand cars a year they can only invest so much in tooling. Add to that the reality that they can’t source parts with the same kind of volume related discounts as Toyota and have to beg and borrow from the FCA group. The price point also reflects this too. Your Lexus will never get the rope lifted allowing you to park in casino square in Monaco nor a second glance at a car show... The main reason for many of these items needing replacing is that many owners of these cars can’t really afford to run them as intended and so they sit around a lot triggering low mileage related issues. Motorcycle Ducati vs. Honda is the same basic deal, rarity or high volume... Funny how people expect high volume quality and parts economics for low volume boutique makers. Nothing makes any car cost a lot to run as low usage...they are designed and tested to be in constant regular use.
On current &recent models back 7 years old, on Ferrari’s the first SEVEN years servicing is free & continues even after an ownership change.
The 550 is an old car and any old classic car will be costly to maintain. Lack of use is often a problem and from bad experiences I’d never buy another old low mileage Ferrari.
My present 1988 Mondial 3.2 Coupe is now at 71,650 miles & is frequently used. This car has had some electrical failures on dry joins but so far no major mechanical problems.
My previous Ferrari was a 1993 Mondial 3.4t Coupe which had only covered an average of 500 miles per year over 25 years. That was much more costly to run, not helped by engine out servicing on this model.
I would not knock the cars, most problems relate to the fear owners have on adding mileage to reduce value. Buy cars with big miles cheaper than low mileage cars and reap the rewards of lower running costs.
My present Mondial is lovely to drive with a manual shift, easy to see out of, plenty fast enough, and was designed to carry 2 adults & 2 toddlers across continents, something it excels at! The biggest factor is the Prancing Horse gets me into all manner of great events. You do not need to spend vast sums on buying a Ferrari to enjoy the car or the lifestyle. This is my sixth Ferrari since 1982 and I’m hoping to continue driving Ferrari for many years yet. I’m 75.
That's a good question
Tie rods and ball joints. On a lightweight car that's done virtually no miles. Do Ferrari make them out of Italian cheese? I did 190,000 miles in a 3.2lt Omega, which weighs twice that Ferrari V8, and it didn't have these problems.
And I drove that poor girl pretty hard. If I recall, the sus top mount started knocking at 170k and the alternator went at about 180k. Other than that... tyres... lots and lots of tyres... Oh, and the backbox at some point around 120k I think.
Really I can't think of anything "major" than went wrong with it. Rusty rear arches I guess, but it's a Vauxhall so I just fixed that myself. ¯\_(ツ)_/¯
Ferrari should bring out a model called ‘La Money Pit’. I’ve watched plenty of videos on Ferrari’s,Lambo’s and Mclarens and come to the conclusion that ‘expectation is greater than realisation.
Mclaren ownership costs are on another level.
Jay m has proved this on his channel.
Ferrari ownership costs I know I could swallow.
Neither is expensive to maintain! Especially the 550 after 21 years! I didn't find anything expensive! And now Ferrari has and now Ferrari has a 7 to 12 year warranty and service depending on which country you are in, and the cars are very reliable these days, so they are not expensive to maintain!
I drove a 2001 Porsche 996 Twin Turbo for 13 years.
Other than standard oil change, brake pads and tires, the only work I ever performed was shifter cable and anti freeze coolant reservoir.
Other than that the car was bullet proof.
Recommend one highly.
You can take a Ferrari and shove it..
Brilliant video, very interesting 👍👏
Thank you Stuart!
@@Number27 slowly but surely becoming one my favourite automotive channels, thanks for all the hard work 👍
Though a massive amount of money has been spent on the V12, it is over a period of 21 years. Imagine purchasing a car valued at £50 000, then changing it every three years. Depending on make/model, depreciation at the three year point could be between 40 - 50%. So multiplying the loss in depreciation by 7, plus servicing and tyres (depending on annual mileage) and the V12 running cost is brought into perspective.
What about running the 50K car for 21 years. Then it would be apples to apples comparison.
The 456 has aged so well. l adore its discreet understated look.
Me too.. but some people hate it!
It's more appealing than 550
Considering all facts
@@lukasuton2433 Visually i have to agree, the front of the 550 was a bit 'Marmite at the time and has not aged well.
I’ve had mine for 17 years and she still stirs the soul but you can’t run one on a budget. You have to have deep pockets and like filling stations.
Great clip!!! You mention the Testarossa, but it is a flat-12 not a V-12.
Think this excellent video mostly reminds me 'Not' to add up the costs, in case the wife find out 😬
Anyway, the most striking thing about this episode is that someone takes you serious enough, in those PJ's, to actually drive their beautiful Ferrari 😆
What a great item thanks 👍
Thanks for watching and glad you enjoyed it Robert!
It would be really interesting to estimate the same maintenance cost if skilled owner like yourself were to carry out the work accessing the parts at trade prices. Some being OE and OE Quality (and I'd argue sometimes better quality) . I think that this would be much more relevant to us viewing. It has been an excellent insight to dealer retail charges all the same. I reckon it would be half or a third of the total. Shocked at £500+ for the TPMS valves, real world
You're right, it would have been a lot more cheaper without Ferrari labor
You can argue better quality but someone buying the car has no way of knowing that. Certainly with a car like this you're tied into maintaining them per the schedule at a reputable mechanic or you will lose what you save and more in the resale value
Interesting, but given the comparison sample size, ie (1)V8 vs (1)V12, one doesn't necessarily have the data for a meaningful comparison. Also, I think it would be interesting to correlate service expense with mileage accrued.
It looks like the 'average' annual service cost as a percent of purchase price/value for the V12 is somewhere in the 2% range, at least in the first 20 years. Which for a Ferrari, doesn't strike me as unreasonable.
Is the V8 not a more ‘stressed’ motor, ie higher compression etc, plus tends to be driven harder more often than the V12 ‘Grand Tourer’ type engine?
Just came across this video. I made a completely different experience so far. I bought a 550 in 2004....and I still have it. I ve had no issues with it at all, i changed the belt after 10 years (mileage was relatively low) and the guy told me it actually wasnt necessary, as it still looked perfect. however, servicing I did only ever 3rd season (I only drive it in spring / summer time). Apart from tyres, insurance and road tax I only pay for petrol. Soon I ll have all the sticky parts done on the dashboard ect (will cost me 3k). All in all, the car is better than I expected, the steering and driveability in general are sensational. That is the reason why I will keep it until my son takes it over.
So service and maintenance over twenty years has been approx 33% of the initial purchase price; that doesn't sound too bad to me. If you had bought, say, a Ford Fiesta for around £9k in 1999, I bet service and maintenance over the same period would have been more that £3k, and you would now have a car that has virtually no value at all. At least the Ferrari has some value even if in real terms it has still devalued somewhat.
Ya, but you get little to no utility with the Ferrari. The Fiesta actually was a cheap work horse worth every penny... the Ferrari is the stallion in the barn its whole life that constantly needs surgery from the Vetranarian. And you only take out on a nice weekend...
@@Boatfisherz1 I agree, but the Ferrari does what it's designed for just as the Fiesta does.
I ran a 550 for 112,000 miles and in 12 years serviced it as per the scheduled services and in that whole time it never once let me down. Yes it will have cost me around £24,000 but that is for 112,000 miles. All the costs featured here came from lack of use. If you drive them everyday they become a lot cheaper in relative terms.
Did you adjust the V12's earlier bills for inflation?
as a percentage of it's purchase price is this more than a regular car over the same time?
Compared to a Camry? Ha! But apples to oranges. These are high performance cars, pushing materials technology closer to their limits. I suspect things like the exhaust manifold cracking are because it's a thinner casting than you would have on a Camry to save weight. Servicing costs are higher as you need specialists/dealers whereas you can take a Camry almost anywhere. I've driven a Camry and a Ferrari, both have their place, and provided I had the means, I don't think I'd begrudge the money spent on either.
Fascinating. And shocking that so many parts that failed would never have failed on older cars (of all sorts of makes) with the same miles. It seems that modern cars aren't being built to last as long as cars of previous generations. Good video, Jack.
No. I think it just goes to show that even though Ferraris have come a long way in terms of “everyday” usability they are still pretty crappily built underneath their shiny surface. Or is it just the quality of the parts? (Not, that it would matter to the owners.)
And even if the cars may have been driven in a demanding fashion: hell, they ARE performance cars! That’s what you buy them for and that’s what they should easily cope with - without breaking or wearing out any substantial parts.
Just how many replaced clutches were mentioned in this video? A cracked manifold? And… and… and… These days I would not even accept this for a FIAT 500. Would love to see a comparison with the maintenance cost of a high-spec Porsche and a McLaren.
@@ralfhenke8148 it's really because this car isn't like a 600hp corvette where it's got a beefed up aluminum truck engine and alot of off the shelf or outsourced parts it's race car stuff put into a street car and race car parts not only have a mileage service interval but a time service interval race cars aren't very reliable without any damage or failure they have to be rebuilt every couple hundred miles these super high grade materials don't last as long as what they would use in your average commuter car but your average commuter car isn't part race car
@@ralfhenke8148 Porches have their fair share of problems too but you're definitely getting more of what you think you are paying for I'd say. Ferrari only makes so many low single digit thousands of cars a year so you're paying for exclusivity. They just aren't 3 times better than an equivalent Porsche. They just can't be but in the market the Ferrari brand is the ultimate sports car so I get it.
@@ralfhenke8148 small production numbers makes that , no small production car are perfect, also the fact they are tuned to very high performance makes its harder to make when comparing for example normal family car, they are usually also drive more harder than regular cars. If you manufacture 1000 car batch or 500 000 batch there is diffrence.
@@ralfhenke8148 Modern cars are made from junk and designed to fail miserably.
I used to drive my boss' 355 to services because he didn't like driving it in the city. In that era Ferraris were much worse, needing regular engine-out timing belt changes etc. for thousands of dollars. I remember he changed the wiper blades on one service, the short one was about $350, the longer one was about $550... 20 years ago that was several nights in a 5-star hotel.
Interesting. I had a look at the garage name and looked looked up. Their labour prices on the invoices are very reasonable for an expert, but are they maybe over caring for the car at times?
I once met a guy at the Zolder Circuit in Belgium. He parked across from my Alfa Romeo 33 16V QV with his Ferrari 512TR. Being the only two red Italian cars, we immediately started talking. He told me that the 512TR was the worst purchase he could ever have done. He said he had better bought a Viper. The trouble with the 512TR, he continued, was the fact that he would take it to the dealership for a small service, they would change oil, filters and do valves for £3,000+. That would make him feel terrible. He would pay, pick up the car, drive the first 300 yards and would have forgotten about the whole £3,000+ invoice. He loved the car. It was his daily driver around London and he had just popped over to see the Ferrari races at Zolder for a nice Sunday morning trip.
I'd rather have the 33 any day.
@@terryturner4116 I already (or still) have the 33. But I still don't have a Ferrari. 😉
The 33 is very rare car, Alfa Romeo are my favorite car manufacturer, I've got two 147's
@@terryturner4116 I like 147's. I looked at buying a 147 GTA, but then decided that I liked to have some roofless action with room for the family and bought a Saab 9-3 Viggen. I have owned my 33 for about 20 years and though it needs some work, it is not leaving my garage any time soon. 😉
Please consider in these costs though these two cars are now some years old and both will still be in perfect working order. That is an essential requirement given both the speed they reach and the required experience the owners wish for.
Normal cars get 'normal' basic servicing and gradually wear out.
Try driving a 12 - 15yr old family car at flat out speed. Truth is it would shake, rattle and roll anywhere near flat out because many parts would be out of their design tolerance.
Also, let's not forget many Porsches from around this period suffered serious engine faults. In context Ferrari's have faired well but also suffer from not being used regularly enough which adds to service costs rather than reducing them.
Any advice for getting rid of the shake, rattle, and roll of 15 yr old family cars?
For the V-12 there's 92,000 miles and 55,000 British Pounds spent for Maintenance&Repairs. That's a Per Mile cost of O.5977 British Pounds.
On 6/11/23 add 26% to understand the U.S. Dollar cost per mile, so $0.75 per mile. Personally, I think if a person is a car enthusiast, and they don't drive a given car at least 100 miles per week, they are shorting themselves the joy of what a fun car is supposed to BE ! And, machines such as cars need to be run regularly to keep their seals, gaskets in better shape as well as their moving parts!
Good stuff...thx..wondering if how these 2 cars were driven enters into te repairs. assume the 430 would have been driven much harder leading to ball joint wear, cracked exhaust manifod, etc.
For a 100k miles in a Ferrari that sounds ok to me. I have run my F355 for 14 years and it has cost just under £30k in maint including 3 engine out services and £10k at Bob Houghton last year where it had belts, clutch, brakes and all the 'sticky' trim refurbed. The car has increased in value more than it has cost to run in that time. Budget £2k a year on average for a good car and you'll be ok.
I owned a F430 for 11 years and took it to HR Owen for all its servicing it was amazingly reliable and never went wrong apart from the the manifolds which is a con as they were a manufacturing fault And had been superseded and I still had to pay and the F1 hydraulic lines which are to short on the early cars and the car sometimes changes to neutral when driving also a manufacturing fault and had been superseded and I still had to pay 🙄 saying that the Ferrari experience was incredible wish i had never sold it. Ps i am an engineer and i no what needs doing and what you can class as acceptable ie an oil weep. If you get every little thing fixed you could spend a crazy amount of money unnecessarily.
Especially at their dealeships ! Those are knowned for unnecessary work and parts. A rip off.
..and sometimes, you even know what needs doing.
How much do you bring in per year
Awesome, odd start though, like we missed a few seconds. Cheers Jack.
He just started with a snippet where he mentions the largest bill
@6:01 the parts are 4,250.00 and the labour 5,985.00 ex VAT. That doesn't add up to 20 grand like you said. The total is 13,176.00 incl. VAT. Or am I missing something?
My average annual servicing/repair costs for my Skoda TDI is £275 💪.
You Sir, are a driving God.
That’s expensive. My service costs on my Volvo diesel are about £60 including the mot.
Not even that for my Merc doing it myself 275 buys a lot as far as Diy goes
@@LOTPOR0402 yea same here. £275 will buy a fair amount of parts and time is ‘free’
@Scott Taylor Do not see the fun when it s costing you that .TVR Lotus caterham just as much fun for a lot less .More money than sense. Anyway have you left school yet ?
You have to take into account that both these cars have a lot of miles on them by Ferrari standards, although it's good to know they've been used and not stored. But there are also things in there that don't normally occur. Headers and ball joints are known weak spots on the V8s but a new wheel is likely down to pothole damage and the carbon brakes shouldn't have needed anything more than pads at that age. VED, insurance and tracking will also be significant expenses. You just need to make sure you go into supercar ownership with your eyes open. Useful summary!
Can't understand you. With the price tag and the so called "advanced technology", these cars should be almost maintenance free. This proves it is all show and poor quality inside.
@@dDoOyYoOuUtTuUbBeE Totally agree
Friends of the family used to own Ferrari and Lambo dealerships and I had a chance to speak with their head mechanic several times. He always said that the nightmare Ferraris and Lambos were older ones with low miles. The interiors would be impeccable but would be mechanical nightmares. They need to be used regularly for the purpose in which they were built. He was more afraid of a 20 year old exotic with 2,000 miles than he was with ones that had over 100k on them.
That said Ferraris of this era were generally poorly built by mainstream standards. You couldn't get more than a year away from their build date without at least something being broken. Buttons, seat belts, turn signal stalks. The 355 with the F1 gearbox constantly had the T-bar that you pulled to get into reverse break. Like you said, you have to know what you are getting into.
I'm with you on TPMS. My 2006 350Z had sensors in the wheel, but my gti uses the ABS sensor and looks for one wheel's speed varying from the other three. Much simpler solution that doesnt involve additional sensors addi g rotating weight making balancing wheels more of a chore.
Didn’t know that.. definitely sounds like a better solution!
My Enzo I bought in 2001 for $890k. Today I have 4429 miles on it and it's worth 3.3 to 3.7 million dollars. I have had around. 40k of work. Tires being the big one. Brake pads and a warranty on the LED on the steering wheel that tells you when to change gears went out. That was free. But I got better plugs and wires and it takes 43 hours of intensive work to wash and detail car. So all that over 21 years at $40k not bad.
I guessed the V12 would have been possibly up to £5k/y getting on for near double the actual.
I budget average £3k/y for my manual 360 Modena excluding insurance, tax, tyres & fuel. It's up & down but about right.
I’ve spent £2k a year maintaining my e46 M3 with me doing all the work. Considering a Ferrari is a much more expensive car, I think it’s not unreasonable.
@@adogmcdizzle this is the thing - I've known so many much cheaper cars demand just as much maintenance. They're not exactly cheap, but they're not outrageous provided you keep on top of things.
@@JayEmmOnCars yes, absolutely; especially since every little thing is being sorted. Most cars aren’t maintained to that level as a Ferrari is by a specialist.
Go watch some of Redish motorsports underside restoration video’s to see how much money is lavished on mere BMW’s. Not always M-cars either.
Love your work.
@@adogmcdizzle Bimmers aren't what they used to be. Their "ultimate driving machines" got cheaply made, less enjoyable but still got very expensive to maintain. Had a 323 years ago. Loved it. Count me out now.
I got a tps out of asda for about 5 quid and once in a while I take the valve caps off and check the tyre pressures, works fine lol
Before I clicked play I would have guessed owning a V12 Ferrari for 21 years would have surely cost $100,000. So I was pleasantly surprised at the actual amount.
If you can ignore the badge for a bit and I know most people can’t, it does say much for the integrity of Ferrari engineering, with all the hours spent on this vehicle it should have been a lot more reliable.
Durability isn't the strong suit of any higher-end Italian car is it, let alone a Ferrari? :) I think Ferrari often gets a pass because it's Ferrari, when a mid-range to higher-end Alfa Romeo or Maserati would be called out for it. If the supercar buyer wanted a reliable supercar, they would've gone for a Honda NSX (Acura) or Lexus LF-A or LC500 etc! (Bearing in mind, in the United States or Australia, German cars like a BMW M5 are considered fairly unreliable too, whereas Brits usually seem to consider German cars, albeit perhaps mostly diesels, fairly reliable for some reason. :) )
Ferrari at this point is just expensive Fiat. Also like Alfa, but still somehow worse.
Had the blessing of detailing both those Ferraris 😁
You definitely ought to be including all expenses incurred by the dealer/commercial owners, because those service items were all necessary for the operation of the vehicle. In the event that the owner(s) never went through a dealership, those costs would have been incurred by the private owner, in addition to the other itemised bits.
was the scud's exhaust manifold titanium?
I had the clutches changed in one of the tractors and it was near £6k, set of tyres another £6k, might be cheaper to get a Ferrari 🤣
Is your tractor a Lambo, like Clarkson's?
@@tonygorilla8928 nah, a Renault which is basically a John Deere engine, Massey Ferguson gearbox and Renault made the cab, the important bit, the French know a thing or two about comfort! Built in Le Mans
For me it would be interesting to see how much is the maintenance for the Mercedes S class w220 from new! 🤔
1 service every 12K miles - so more or less zero as you should do that with any car.
My S has cost me zero - 35K miles so far. Tires aren't cheap but then its not a Yaris so I was expecting that.
I had one of those secondhand for about 3 years and it was a financial disaster. New ABC pump, new duovalve, oil cooler leak, the headlamps needed frequent machine polishing, the rear tyres wore out faster than on any other car that I have ever owned and the gearbox went amongst many other things. It was an expensive pile of poo.
It'd be interesting to know how they've been driven as well. As dailies or only fair weather weekend bashers and does he track day them often.
Don't expect too many Ferrari owners to rock'em on track days. Still, driving (or attempting to drive) a Ferrari on a track day must be a unique experience. I wouldn't say better - that's personal taste - but definitely unique.
I think it was said about Lotus, I might be wrong, but the line went something like this, "if you can only just afford a Lotus, you can't afford to run a Lotus".
Our last mechanic did a bad job resulting in a new place to take ours and a new engine - Lotus Elise has still cost less than my Ferrari Dino so far - although I have not got the Dino anymore!!!!
Jack, you’re clearly a very intelligent chap and I really do enjoy and appreciate watching your videos. However, please don’t sink to the low standards that some other CZcamsrs are at by Constantly Putting Capital Letters Into Your Video Titles!!!! Please stop, it’s infuriating!
Why is that...? a cultural thing... or should he write 3 exclamation marks... or red bold font on yellow background ;-)
CHILL OUT DAVID.
Bore Off David
I BET YOU’RE FUN AT PARTIES
Love your channel! Well it's pay to play. You've also got to think of the opportunity cost of taking that cash and investing it in a simple S&P 500 ETF. You probably could have bought two of them outright. The true cost is two or three times the capital cost. I love cars but you have to be wealthy enough where money simply does not come into it. The other thing that is why do Ferrari's have issues with things like interior items or door straps that my Grandma's Toyota never has an issue with? Two clutches in 90K miles? All of them suffer from this header cracking issue. It's money no object in my mind. I'd love to have one if someone else was paying for it. Great car but it must be like dating a super model :).
"Great car but it must be like dating a super model :)."
And the prettier, the more expensive to maintain !
Plus, try to get the attention of the super model with granny's beige Corolla. Good luck mate !
🤣🤣🤣
Like the calypso song from the Sixties…
“Never make a pretty woman your wife”….
Please please, do a video of the 400/412s both v12s and they look fantastic today but very forgotten.
I'm reminded of Steph of IDriveAClassic testing a RR Silver Spirit that had had a bill for £17k for welding ... at four years old!
When I was a kid I lusted after Ferraris. Then, to be frank, I grew up. The modern stuff, the stuff they've been selling in recent years, is vulgar. The older stuff is sheddy and not actually that great to drive. That's a gross generalisation, obviously, but certainly all the Ferrari's I've driven have disappointed.
Crikey, could’ve written that myself!😂
Anyone looking to own a classic car should join a classic car club first. I did and was so underwhelmed by most of them, a 308, 928, 964 C4 to name a few.
I guess I'll never grow up and I'm fine with that because then life would be boring. "The difference between men and boys is the price of their toys"
So about £2600 a year. Not too bad I think for what it is.
cant really look at it like that, i know I could by one and run it for £2600/year no problem, but no stumping up for the unexpected 10K+ bills.... not a chance
@@chrisnorthall8317 yes you can. You just wait 3 years before buying. Another way of looking at it, your emergency repair fund is only 10% of the purchase price of the car. Offset that against very small depreciation, and in fact sometimes appreciation, and you can certainly say that it makes more sense than buying a new BMW 4 series.
You got the phrase ‘on that side of things ‘ in there 🤟🤟 smith&sniff would be chuffed
I’ve got a 2ltr, 2005 MX-5. I love it to bits. It’s just fun, fun and more fun.
You want high maintenance? Buy an F355!!! Amazing car, had one for just over 10 years and eventually ran out of money! Not really, the appreciation in value more than made up for that, but, phew got a bit lucky there! Obviously, if you want a low-maintenance car, buy a Skoda, a VW or a Ford. Horses for courses. Swapped the 1995 355 for a 2000 456GTM and so far, so good! Even the wife likes it...I'm now an old fart so thought I would try a 'proper' Ferrari. What did Enzo say? 'Horse before the cart'. Anyhow, let's see how it goes, had it since May this year and no major issues. Car had only done 21000 miles in 21 years so I'll keep an eye on it. Took it up to the Peak district in July and it was wonderful! Watch this space...Cheers from a (rather miserable) Otford, Kent.
Welcome to the 456 club 😁
Such beautiful cars. They take your breath away as well as your wallet 😂
I don't like the way they look.
wallet is gone
I saw one of these on the A40 about a month ago. Such a beautiful car with such a good road presence.
Quite possibly it was this one!
@@Number27 if the guy who owns it is an older gentle man who likes to not drive all that quickly then yes it could well have been. I tried to get him to floor it while I was next to him but he didn’t so sped past him in my Volvo 🤣
I wonder if TPMS sensors are different in the UK? Or maybe they are different on early generations. But I think I have maybe almost 200,000 miles over three or four cars that have had those sensors and I've never had a problem with them. Although for me the primary value is the convenience of not having to check them, I can't really speak to how valuable they are as part of standard safety "kit."
50k ,more money than sense springs to mind. Never even spent fifth of that on any car i have owned
I am quite sensible - If I had more money than sense I would be extremely wealthy.
Any used Ferrari or Lamborghini - price of admission is relatively within reach for most... the servicing will always kill you.
Had a 488spider for a while now if you want to do a review on it I'm happy for you to use it.
The Scuderia has a totally different engine / running gear layout (FR vs. MR) to the 550, so that would most likely be a big part of the expense. A lot more labour involved!
The layout can be a factor but the main cost of the difference is the trim level. Scuderia vs Base model. The F-430 Scuderia Brakes are Carbon, Transmission is the “F1” automated manual, tires are for the track, “special” servicing because it’s a top trim (lighter and more expensive materials). If it was a Base F-430 I’m sure it’ll be around similar assuming the transmission would also be a 6-speed manual.
@2:09 "in 2013 there was a clutch master cylinder as well which was done and that cost £2011" (that's about 3500$ CAD or $2780 USD). That is ridiculously expensive for such an inexpensive part and a relatively easy job to do. Ferrari (cars, service and parts): clearly overpriced. Not to mention unreliable, too.
The takeaway fact with every Ferrari is the image masks what are essentially badly built vehicles with substandard parts which knowingly have a high failure rate.