Ferrari is a brand that has been synonymous with luxury, performance, and exclusivity for decades. It’s the dream of many car enthusiasts. Most people think that Ferraris are expensive because they’re high-performance cars. Ferraris can be expensive but there are some models that are more affordable. What is the lowest price Ferrari you can purchase?
The Ferrari Portofino: The Entry-Level Model
The Ferrari Portofino M, as of the most recent model year is the brand’s cheapest offering. Base price of a new Ferrari Portofino M is around **$245,000**. The Portofino M is more affordable than other Ferrari models, even though “affordable”, as a term, can be relative, especially when it comes to supercars.
The Portofino M sports car is a grand tourer that combines everyday usability and the prestige of the Ferrari. The 3.9-liter twin-turbo V8 engine produces 612 horsepower and allows it to reach 60 mph from 0 in just 3.1 seconds. The “M” stands for “Modificata,” which indicates an updated, more powerful version of Portofino.
Buying a Used Ferrari: An Alternative
You might want to consider buying a used Ferrari if the cost of a brand-new Ferrari is out of your price range. After a few more years, high-end vehicles like Ferraris become more affordable due to their depreciation. Older models, such as the Ferrari California (predecessor to the Portofino), can be purchased on the used market for between $100,000 and $150,000 depending on their condition, mileage, year of manufacture, etc.
The Ferrari California was introduced in 2008 and was Ferrari’s front-engined V8. It offered a more relaxing driving experience than the more aggressive models. This is a good option for anyone who wants to own a Ferrari without having to spend a quarter million dollars.
Considerations Beyond the Purchase Price
The initial cost is important, but it’s also essential to look at the total costs of ownership. Ferraris can be expensive to maintain. Annual servicing costs can easily reach thousands of dollars. Budget for insurance, fuel, and possible repair costs.
While the Portofino M is the most affordable new Ferrari at $245,000, you can find more affordable options on the used market. Prospective buyers must be aware of the extra costs associated with owning high-performance luxury cars. Owning a Ferrari, whether new or used is an investment into a work of automotive art as well as a lifestyle filled with unparalleled driving thrills.
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