This $55K Ferrari V12 Appears to Be a Bargain Until You See the Service Costs | Carscoops

      This used V12 Ferrari 456M GTA is priced similarly to a new Toyota Crown Platinum, but should you consider buying it?

      A stunning example of the Ferrari 456M GTA has recently sold for $55,000.

      This 2+2 grand tourer features an automatic transmission and has only 30,000 miles on the odometer.

      The asking price is appealing, despite the substantial maintenance costs associated with a V12 Ferrari.

      If you've ever fantasized about owning a V12 Ferrari without depleting your savings, that dream may be more attainable than you think—provided you're prepared for some hefty expenses. A striking 2000 Ferrari 456M GTA was auctioned for $55,000, demonstrating that entry into the Prancing Horse realm doesn't necessarily require a six-figure investment.

      While acquiring a V12 Ferrari for the price of a new Toyota Crown may sound like an automotive fantasy, experienced Ferrari owners are aware that maintenance costs are always looming. Nevertheless, this particular buyer acquired the car for a fraction of its original MSRP, which was a significant $229,950 when it was first sold 25 years ago. Adjusted for inflation, that’s approximately $426,000 in today's dollars.

      A Modern Classic That Continues to Impress

      The 456M GTA featured here was sold during an online auction on Bring a Trailer last weekend. It has 30,000 miles (48,000 km) on the clock, boasts a clean CarFax record, and has had only two previous owners in the U.S.

      Its 17-inch wheels may appear modest by modern standards, but the Pininfarina-designed body, complete with classic pop-up headlights, has aged more gracefully than many of its contemporaries. This example flaunts Grigio Ingrid paint—reportedly inspired by Ingrid Bergman's eyes—paired with a cream leather interior that exudes “elegant GT” rather than “track-day bruiser.” Despite its age, the car is in great condition and looks ready to hit the road.

      What's the Drawback?

      Initially launched in 1992, the Ferrari 456 received an updated "Modificata" version in 1998, which improved both aesthetics and performance before the model was succeeded by more contemporary 2+2 grand tourers like the 612 Scaglietti, the FF, and later, the five-door Purosangue SUV.

      Under the long, sculpted hood lies a naturally aspirated 5.5-liter V12 engine producing 436 hp (325 kW / 442 PS). As indicated by the GTA badge, this model is equipped with a four-speed automatic transmission that delivers power to the rear wheels. It may not be the preferred choice for enthusiasts, as manual versions are sought after and command higher prices, but it's hardly a deal breaker if you prioritize cruising over cornering.

      When the Cost Comes Up

      Now comes the part that distinguishes dreamers from practical buyers. The primary concern with this 456M GTA, or really any of its counterparts, lies in the steep costs of maintaining a 25-year-old Ferrari.

      This specific car's listing includes comprehensive service records, one of which details a 30,000-mile service that set the owner back an astonishing $18,407. This expense covered extensive work on the powertrain and rear suspension. Another maintenance round cost $8,169 and included an oil change, new brake fluid, and a rear shock absorber replacement.

      These invoices serve as a stark reminder: while the purchase price might look inviting, owning a Ferrari still comes with Ferrari-level expenses—especially in relation to genuine parts and specialized labor.

      However, for those who have always desired the experience of a grand touring Ferrari and the unmistakable sound of a V12 crafted in Maranello, this may be one of the more attractive entry points. Just be sure to approach it with open eyes, a well-prepared budget, and perhaps a solid relationship with your local mechanic.