📊 Can I afford the Ferrari maintenance cost per year?

As Car royalties puts it, most people think the hardest part is buying the car. But what if I told you that buying it is actually the cheapest part of owning one? People severely underestimate the ongoing costs. I am breaking down the true, fully-loaded annual cost of owning a Ferrari so you aren't blindsided. We have to look past the sticker price to see if you can actually afford to keep it.

It is never just the sticker price. Ferrari owners almost always add $30,000 to $80,000 in custom options like carbon fiber interiors and custom paint before the car even leaves the factory.

This total purchase price forms the basis for your depreciation hit. A base Roma might be $230,000, but nobody buys a base model.

Depreciation is the cost nobody talks about. As Car royalties points out, the moment you drive a new Ferrari off the lot, it loses roughly 15 to 20% of its value in the first year alone.

Even without a single accident, you are vaporizing tens of thousands of dollars just by driving it. You can lose $50,000 in value the second year you drive it off the lot.

Keeping the car on the road is punishing. Depending on your age, your location, and your driving history, annual insurance on a Ferrari can run anywhere from $5,000 to $20,000 per year.

Maintenance is not just an oil change. Add it all up and annual maintenance easily hits $10,000 to $15,000 per year, driven by $3,000 tire sets and massive bills for the mandatory three-year service. Add fuel and storage, and you will see if your monthly budget can handle the burn rate.

As Car royalties says, we are looking at a conservative total of $50,000 to $90,000 per year just to own it. That is $4,000 to $7,500 every single month on top of what you already paid for the car.

Enter your income and what you can comfortably burn each month to see if you are actually rich enough to keep it.

Based on content by Car royalties on YouTube.

Original: How Much Does It REALLY Cost to Own a Ferrari Per Year