If you are an auto connoisseur or even a car collector, one of the dream cars on your list would most likely be a Ferrari. Apart from the hype and desire the Italian brand creates around its marques – which are usually produced in very limited quantities – the name Ferrari is synonymous with luxury, class and sophistication and they have a long history of manufacturing some of the best high-performance vehicles of all time.

But, are these enough to justify taking hundreds of thousands of dollars out of your bank account and investing in a single Ferrari?

Probably yes. However, buying a Ferrari is more than the name or its performance. Turns out that there is more to owning one than the status it will confer on its owner. For starters,

Ferraris hold their value

Much like all vehicles, a Ferrari will depreciate in value once it rolls out of the auto dealership. However, you may also know that supercars retain their value much better than your typical car. This is certainly true for the Italian brand as they are exclusive and produce very few cars compared to other brands. You are more likely to see a Ferrari in a movie than on the road and this means that they will always be valuable assets that hold their value well.

Also

Buying a preloved Ferrari is not so bad

The fact that the models hold their value well also means that buying a pre-owned one could be a smart move to make. This would allow you to make huge savings on the cost of what will always be an enormous expense, plus you will have sidestepped the biggest depreciation hit which occurs in the first year so you will lose less by buying it on the resale market.

And it also means that you may be able to re-sell your vehicle at a good price as a result.

However

A Ferrari is picky: it chooses its owner

Simply because a Ferrari is a smart investment does not mean any investor can stroll into a dealership and buy one. Purchasing one is not a process for the fainthearted because the Italian manufacturer actually has a strong hand in who buys their cars: you don’t choose Ferrari, a Ferrari chooses you.

To pass the brand’s tests, you will need to check certain boxes – undergo and pass a background check; agree to not selling the car in the first year without giving notice and, agree to not carrying out any modifications on it because they are perfect as they are. It is also reported that collectors that have a Lamborghini are banned from VIP lists for limited edition Ferrari vehicles (this is a result of an intense rivalry between the two).

Lastly

Owning a Ferrari is a life-changing experience

If you do manage to pass the tests and you have the funds to make the purchase, a Ferrari can change your life in more ways than one. You will become a part of an exclusive club and turn heads wherever you go, a proud owner of one of the most desirable cars in the world.

Source: Luxury Travel Magazine