The pre-owned journey into Ferrari ownership
06 May 2025|480 views
While it's easy to be enamoured by brand new vehicles gleaming in showrooms, the reality is that the pre-owned market is in fact much larger than the new car market.
According to LTA statistics, 65,228 new motor vehicles were registered in 2024. Contrast that with 182,525 vehicles transferred, which indicates a change of ownership of a pre-owned vehicle.
And the logic is quite simple. While buying brand new may give you the latest in performance, features and technology, for many people going the pre-owned route makes more financial sense. Put simply, a pre-owned car is cheaper (and can be significantly so).
In the most reductive sense, the pre-owned route offers a cheaper means of owning a Ferrari
That's true if you are buying your very first compact hatchback. And that is also true if you are buying your first sports car.
And a sports car manufacturer like Ferrari knows this - and that's why a program like Ferrari Approved becomes key not just in keeping customers with the brand, but also to bring new customers in.
Each Ferrari certified through the Ferrari Approved program undergoes a comprehensive check to ensure its authenticity, as well as its physical and mechanical integrity
Ferrari Approved
What exactly is Ferrari Approved? It is the brand's in-house pre-owned certification program, where a comprehensive process is undertaken to ensure that buyers can shop for a pre-owned Ferrari with complete peace-of-mind.
This process begins with a verification of a car's origin and maintenance history to provide full transparency. Then, a detailed technical inspection is done by factory-trained technicians - 201 individual checks are done across the exterior body, interior components, as well as the mechanical parts. A pre-sale preparation of exteriors and interiors is also done prior to delivery. And Ferrari is expectedly quite particular about what cars receive this certification - the car has to fitted with all its original parts, and that even includes the paint work (yes, it must be quite literally be the original colour).
The Ferrari Approved program also adds Ferrari warranty up to 24 months in Europe, U.S.A, Middle East and China (12 months in the rest of the world), and Ferrari roadside assistance up to 24 months in Europe and 12 months in the rest of the world. With the program available for cars up to 15 years after the first date of registration, it effectively helps to cover any car until its 16th year on the road.
One reason a buyer may choose the pre-owned route is the immediacy of ownership, compared to a brand new model that typically has a waiting time of at least six to nine months, often longer
Of course, there's the question of why, right? Why would buyers choose a pre-owned Ferrari?
Well, there is the obvious answer. In most instances, it is cheaper. And sometimes, that's all the reason anyone really needs.
But there are other reasons too. Some choose the pre-owned route because it allows them immediate ownership (buying a brand new Ferrari typically has a waiting time of at least six to nine months, and much longer for more limited models).
The pre-owned route offers access to models like the 296 GTB and SF90 Stradale that are no longer in production, and is a gateway to breathtaking on-track performance
Ferrari performance
Here's another reason to consider - you also get access to models that you wouldn't otherwise be able to have brand new.
Case in point: The 296 GTB and SF90 Stradale - production of both have already ceased.
And let's be real, shopping for these "older" models is no hardship, nor are you exactly compromising on performance.
The hybrid powertrain gives the SF90 rocket ship acceleration, while also flattering less-than-stellar driving ability
Having had a chance to take a SF90 with more than 30,000km on the clock out on the Fiorano test track, I can definitively tell you that performance is still entirely shocking. 900+bhp, all-wheel drive, and deeply sophisticated electronics make you feel like a hero on a racetrack. The car is flattering to a fault - you can't seem to put a foot wrong (even when you know you definitely have). Just unwind some steering, give it the beans, and the SF90 rockets you on to your next braking point.
Or, you could have a 296 (coupe or spider), a perhaps "purer" expression of the sports car formula. Engine in the middle, power to the rear wheels, and a real sense of piloting delight. It does still have over 800 horses so pace is immense, but it is when the steering wheel isn't at 12 o'clock that you can feel a distinctive difference. Where the SF90 is perhaps a little bit more brutish in its ability to demolish corners, in the 296 you have to be a touch more delicate.
The mid-engine, rear wheel-drive setup in the 296 GTB delivers a "purer" driving experience, though its outright pace (it has over 800 horses!) is still pretty shocking
And, that delicacy is rewarded. Indeed, with its rear-wheel drive setup you can modulate the throttle to adjust the nose of the car. You also get a greater sense that your driving skill is affecting the outcome. I'm not saying that the SF90 does not require skill (it most certainly does), but rather the 296 casts a much harsher light on less-skilful driving (the SF90 covers up so many mistakes).
As we inevitably head towards the dawn of an all-electric Ferrari, the pre-owned route also offers perhaps "sentimental" value. You want a V8? How about a Roma, or a 458? Naturally aspirated V12 with zero electric assistance? A F12berlinetta might just do the job.
Yes, choosing pre-owned means that there will be some mileage on the car, but you will struggle to find a Ferrari with very high mileage
And of course, given the nature of Ferraris, one thing you're unlikely to have to worry about is high mileage on these cars. The 30+k mileage on the SF90 I drove is a lot more than most cars listed on the Ferrari Approved Singapore website.
In some ways, a brand having an in-house pre-owned certification program is nothing unusual. Plenty of brands have this. It's also an important secondary business when considering that customers who buy new cars often trade in their existing car.
Technicians from each market undergo training at the Ferrari Academy to ensure they are equipped with the skills and tools to perform the relevant inspections for a car to meet the Ferrari Approved standards
Ferrari exclusivity
Understandably, the pre-owned route has some drawbacks, the most notable one being that you don't get access to the same level of personalisation and customisation you would have when ordering a brand new model (though there are still some options, such as various accessories and performance parts). And of course, some people just want things brand new, and perhaps aren't too keen on not being the first owner.
Where it's slightly different for Ferrari is the financial level that it's operating on, and also the exclusivity of its products. Because every new Ferrari is so in demand, and thus carefully curated to the eventual owners, factory-certified pre-owned models offers the brand the chance to bring in new customers to the brand, while still being able to offer these customers the distinctive Ferrari customer journey. In fact, Ferrari says that the pre-owned route is where many first-time buyers enter in Ferrari ownership.
The Ferrari Approved program offers you the opportunity not just to get the car that you want, but also the car that Ferrari wants you to have
A big part of this, of course, is that Ferrari wants not just to keep its cars on the road, but to ensure that all those cars meet the brand's exacting standards.
Ferrari says that 90% of all its cars ever made are still driving. Well, "driving". Let's say that that term is used rather generously; 90% of the cars made are still around.
Ultimately, this is still a small volume brand, and there's no brand quite as conscious and precious about its image as Ferrari. This Approved program is another effort to ensure that every Ferrari can meet its original remit of performance, quality and desirability, no matter its age. And brand new or pre-owned, the Ferrari experience is still a special one. The excitement that it affords, the specialness that you feel, the exclusivity of ownership, that persists throughout.
Whether it's buying your first Ferrari, adding another one to the collection, or netting a piece of soon-to-be history, with the Ferrari Approved program, you're not just getting the Ferrari you want, you're also getting the Ferrari that the brand wants you to have.
While it's easy to be enamoured by brand new vehicles gleaming in showrooms, the reality is that the pre-owned market is in fact much larger than the new car market.
According to LTA statistics, 65,228 new motor vehicles were registered in 2024. Contrast that with 182,525 vehicles transferred, which indicates a change of ownership of a pre-owned vehicle.
And the logic is quite simple. While buying brand new may give you the latest in performance, features and technology, for many people going the pre-owned route makes more financial sense. Put simply, a pre-owned car is cheaper (and can be significantly so).
In the most reductive sense, the pre-owned route offers a cheaper means of owning a Ferrari
That's true if you are buying your very first compact hatchback. And that is also true if you are buying your first sports car.
And a sports car manufacturer like Ferrari knows this - and that's why a program like Ferrari Approved becomes key not just in keeping customers with the brand, but also to bring new customers in.
Each Ferrari certified through the Ferrari Approved program undergoes a comprehensive check to ensure its authenticity, as well as its physical and mechanical integrity
Ferrari Approved
What exactly is Ferrari Approved? It is the brand's in-house pre-owned certification program, where a comprehensive process is undertaken to ensure that buyers can shop for a pre-owned Ferrari with complete peace-of-mind.
This process begins with a verification of a car's origin and maintenance history to provide full transparency. Then, a detailed technical inspection is done by factory-trained technicians - 201 individual checks are done across the exterior body, interior components, as well as the mechanical parts. A pre-sale preparation of exteriors and interiors is also done prior to delivery. And Ferrari is expectedly quite particular about what cars receive this certification - the car has to fitted with all its original parts, and that even includes the paint work (yes, it must be quite literally be the original colour).
The Ferrari Approved program also adds Ferrari warranty up to 24 months in Europe, U.S.A, Middle East and China (12 months in the rest of the world), and Ferrari roadside assistance up to 24 months in Europe and 12 months in the rest of the world. With the program available for cars up to 15 years after the first date of registration, it effectively helps to cover any car until its 16th year on the road.
One reason a buyer may choose the pre-owned route is the immediacy of ownership, compared to a brand new model that typically has a waiting time of at least six to nine months, often longer
Of course, there's the question of why, right? Why would buyers choose a pre-owned Ferrari?
Well, there is the obvious answer. In most instances, it is cheaper. And sometimes, that's all the reason anyone really needs.
But there are other reasons too. Some choose the pre-owned route because it allows them immediate ownership (buying a brand new Ferrari typically has a waiting time of at least six to nine months, and much longer for more limited models).
The pre-owned route offers access to models like the 296 GTB and SF90 Stradale that are no longer in production, and is a gateway to breathtaking on-track performance
Ferrari performance
Here's another reason to consider - you also get access to models that you wouldn't otherwise be able to have brand new.
Case in point: The 296 GTB and SF90 Stradale - production of both have already ceased.
And let's be real, shopping for these "older" models is no hardship, nor are you exactly compromising on performance.
The hybrid powertrain gives the SF90 rocket ship acceleration, while also flattering less-than-stellar driving ability
Having had a chance to take a SF90 with more than 30,000km on the clock out on the Fiorano test track, I can definitively tell you that performance is still entirely shocking. 900+bhp, all-wheel drive, and deeply sophisticated electronics make you feel like a hero on a racetrack. The car is flattering to a fault - you can't seem to put a foot wrong (even when you know you definitely have). Just unwind some steering, give it the beans, and the SF90 rockets you on to your next braking point.
Or, you could have a 296 (coupe or spider), a perhaps "purer" expression of the sports car formula. Engine in the middle, power to the rear wheels, and a real sense of piloting delight. It does still have over 800 horses so pace is immense, but it is when the steering wheel isn't at 12 o'clock that you can feel a distinctive difference. Where the SF90 is perhaps a little bit more brutish in its ability to demolish corners, in the 296 you have to be a touch more delicate.
The mid-engine, rear wheel-drive setup in the 296 GTB delivers a "purer" driving experience, though its outright pace (it has over 800 horses!) is still pretty shocking
And, that delicacy is rewarded. Indeed, with its rear-wheel drive setup you can modulate the throttle to adjust the nose of the car. You also get a greater sense that your driving skill is affecting the outcome. I'm not saying that the SF90 does not require skill (it most certainly does), but rather the 296 casts a much harsher light on less-skilful driving (the SF90 covers up so many mistakes).
As we inevitably head towards the dawn of an all-electric Ferrari, the pre-owned route also offers perhaps "sentimental" value. You want a V8? How about a Roma, or a 458? Naturally aspirated V12 with zero electric assistance? A F12berlinetta might just do the job.
Yes, choosing pre-owned means that there will be some mileage on the car, but you will struggle to find a Ferrari with very high mileage
And of course, given the nature of Ferraris, one thing you're unlikely to have to worry about is high mileage on these cars. The 30+k mileage on the SF90 I drove is a lot more than most cars listed on the Ferrari Approved Singapore website.
In some ways, a brand having an in-house pre-owned certification program is nothing unusual. Plenty of brands have this. It's also an important secondary business when considering that customers who buy new cars often trade in their existing car.
Technicians from each market undergo training at the Ferrari Academy to ensure they are equipped with the skills and tools to perform the relevant inspections for a car to meet the Ferrari Approved standards
Ferrari exclusivity
Understandably, the pre-owned route has some drawbacks, the most notable one being that you don't get access to the same level of personalisation and customisation you would have when ordering a brand new model (though there are still some options, such as various accessories and performance parts). And of course, some people just want things brand new, and perhaps aren't too keen on not being the first owner.
Where it's slightly different for Ferrari is the financial level that it's operating on, and also the exclusivity of its products. Because every new Ferrari is so in demand, and thus carefully curated to the eventual owners, factory-certified pre-owned models offers the brand the chance to bring in new customers to the brand, while still being able to offer these customers the distinctive Ferrari customer journey. In fact, Ferrari says that the pre-owned route is where many first-time buyers enter in Ferrari ownership.
The Ferrari Approved program offers you the opportunity not just to get the car that you want, but also the car that Ferrari wants you to have
A big part of this, of course, is that Ferrari wants not just to keep its cars on the road, but to ensure that all those cars meet the brand's exacting standards.
Ferrari says that 90% of all its cars ever made are still driving. Well, "driving". Let's say that that term is used rather generously; 90% of the cars made are still around.
Ultimately, this is still a small volume brand, and there's no brand quite as conscious and precious about its image as Ferrari. This Approved program is another effort to ensure that every Ferrari can meet its original remit of performance, quality and desirability, no matter its age. And brand new or pre-owned, the Ferrari experience is still a special one. The excitement that it affords, the specialness that you feel, the exclusivity of ownership, that persists throughout.
Whether it's buying your first Ferrari, adding another one to the collection, or netting a piece of soon-to-be history, with the Ferrari Approved program, you're not just getting the Ferrari you want, you're also getting the Ferrari that the brand wants you to have.
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