This V12 Ferrari Might Be A Steal (Here's Why They're So 'Cheap')

If there is a V12-powered Ferrari that could be considered a steal, it would likely be the Ferrari FF, which was sold in the U.S. from the 2011 through the 2016 model years. The FF in the car's name denotes both its four-seat capacity and its four-wheel drive, a first for any production Ferrari. 

The Ferrari FF's V12 engine displaced 6.3 liters and produced 651 horsepower, which was distributed to all four wheels through a seven-speed dual-clutch automatic transmission.  Car and Driver estimated a 0-60 mph time of 3.5 seconds, a quarter-mile time of 11.5 seconds, and a top speed of 208 mph.

The notion that this V12 Ferrari might be a steal comes down to the large difference between its original MSRP of $302,450 in 2011, which increased to $303,750 in 2016, and its current selling price as a used car. According to Classic.com, FFs in original condition that have been sold in the U.S. within the past year (sorry, these are too new to be brought in from other countries under the 25-year import rule), have ranged from a low of $99,458 to a high of $159,000. That's quite a discount from a new Ferrari, and it also puts a used FF on a par with a new performance model from a more common brand like a BMW M5 at an MSRP of $123,075, or a Mercedes-AMG SL 55 Roadster at an MSRP of $146,500, both including destination fees.

Let's start with the fact that the purchase price of a Ferrari FF is only the first outlay you will be making. Once you own it, you will have to cover the not-inconsiderable costs of insuring it, as well as your FF's ongoing upkeep, including both maintenance and repairs. While new Ferraris come with a three-year factory warranty and every Ferrari made since 2012 comes with seven years of free maintenance, your 2011-16 FF will be long past this point. 

Ferrari does offer an extended warranty at a cost of around $4,000 per year, so there's that. You should also know that four-wheel drive models like the FF tend to come in to the service department more often. Some potential repair expenses on an FF, according to a dealership service manager, included replacing the four-wheel drive system at a cost of $47,000. 

But still, if you like the idea of owning a V12-powered Ferrari for the price of a hot new BMW or Mercedes, it's good to know what you are getting into. Get a Pre-purchase Inspection (PPI) done by a Ferrari specialist or certified mechanic before you sign on the dotted line, drive the car thoroughly to be sure it meets your expectations and that there are no red flags, and have a sizeable slush fund available for the after-purchase expenses. Above all, enjoy driving your Ferrari FF, which has many cool features and is also one of the most underrated Ferraris.