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Should I buy a 2008 Maserati GranTurismo?

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Discussion Starter · #1 · (Edited)
The Maserati GT is my all time favorite car. I’ve been semi-seriously searching the market for the past couple years, and a (seemingly, to me) great deal just popped up.
It’s a 2008 4.2L model with ~68k miles, looks super clean (and in my favorite colorway), full service history, no accidents. Priced at $24k USD.

For some quick info on my financials, I’m 25 & make around $85k/year USD currently. No kids, no mortgage, relatively small monthly expenses (~$1500/m USD).

Some of my justifications for buying the car are:
  • It’s my dream car (obvious one, lol)
  • There are minimal design differences between the 2008-present day model, so I can enjoy the '08 GT for a fraction of the price of a newer GT and not look like I'm in a blatantly outdated car.
  • I’m self employed, so I can leverage tax write-offs for the purchase price, gas, maintenance, insurance etc. In my line of business, the “nice car” can also be used as an asset to obtain more clients.
  • It has probably already hit rock bottom depreciation (or close to it), I can eventually resell it and recoup most of my money.
  • You only live once, I’m obsessed with the car and maybe I just need to own one & get it out of my system. It might end up being an expensive lesson for me, but at a $24k ticket price it’s not going to kill me in the long run.
I dunno, am I being stupid and naive? What are your thoughts/advice? Thanks in advance!
 

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I'm actually really curious about the Maserati Granturismo as well. So I've been reading up on driver and owner experiences across the net, especially here.

While I don't own a Maserati Granturismo, around your age I was making about the same pay and in a similar situation as you. I ended up buying Porsche Caymans and Boxsters (> $25K of the Granturismo here), while still saving up money. With your current pay and expenses, you can probably save at a rate even more than I did and save up for a home in due time while still driving the Granturismo. I say go for it. The Porsche Cayman and Boxsters I've bought over the years have given me priceless memories and I've truly enjoyed my time behind the wheel. The Maserati Granturismo has depreciated so much that I think it won't hurt to pull the trigger, if problems do arise just make sure you have like $10K saved up to fix it if necessary.

Hopefully the Maserati Granturismo is reliable and problems don't come up too often. I'm sure ownership costs will be high, but others can hopefully chime in soon.
 

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You're 25, so get Grundy or Hagerty insurance if this is not a daily driver. I got my GT at a similar age. Traditional insurance rates may blow your mind.
 

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As stated previously, it would be best to find one that has already had the cam variators and cam cap check valves already done. If not, you could very well be looking at a significant repair bill from $6k-12k. If this work has not been done, there is no real way to know if and when you could encounter a problem. Yes, this happened to me about 6 months after I bought mine.
Other (inspectable) items that could cost money are leaking cam cover gaskets, upper control arm bushings, brakes, and tires. All of these will eventually need servicing.
If you do the regular service yourself such as oil changes, filters, fluids brake pads etc. you can keep maintenance costs down. Expect parts and labor costs to be much higher than a regular car if you want to maintain it and keep it nice.
 

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Make sure the cam variator is done and you should have a great car.
My first was a 2008 bought with 24K miles, sold with 55K - zero issues with variators. My good tech buddy told me for cars driven the variators are not a problem.

That said, I replaced the 2008 with a 2013 and I would never go back. The 4.7, change in styling, sound, etc make the 2013 a much better car,
 

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The Maserati GT is my all time favorite car. I’ve been semi-seriously searching the market for the past couple years, and a (seemingly, to me) great deal just popped up.
It’s a 2008 4.2L model with ~68k miles, looks super clean (and in my favorite colorway), full service history, no accidents. Priced at $24k USD.

For some quick info on my financials, I’m 25 & make around $85k/year USD currently. No kids, no mortgage, relatively small monthly expenses (~$1500/m USD).

Some of my justifications for buying the car are:
  • It’s my dream car (obvious one, lol)
  • There are minimal design differences between the 2008-present day model, so I can enjoy the '08 GT for a fraction of the price of a newer GT and not look like I'm in a blatantly outdated car.
  • I’m self employed, so I can leverage tax write-offs for the purchase price, gas, maintenance, insurance etc. In my line of business, the “nice car” can also be used as an asset to obtain more clients.
  • It has probably already hit rock bottom depreciation (or close to it), I can eventually resell it and recoup most of my money.
  • You only live once, I’m obsessed with the car and maybe I just need to own one & get it out of my system. It might end up being an expensive lesson for me, but at a $24k ticket price it’s not going to kill me in the long run.
I dunno, am I being stupid and naive? What are your thoughts/advice? Thanks in advance!
It's how I started with a cheap summer car that I though if it died and burnt somewhere on the side of the road in a ditch it would have been worth the effort and the fun. But you always get caught up in the 'if I spent just a little more" I can get this that or the other etc.... Long story short I picked up a newer car, a cabriolet, with just under 20K miles on it and never looked back. For me I would always go for a car with with a lower mileage and find a happy medium between age and mileage. $24K US is not a bad price and I presume you are bringing this over the border. Look into all costs because they add up very quickly and in the end you only end up saving little to nothing. Good luck.
 

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KJohnson55, congratulations on being at the point in your life where you start putting check marks next to your dreams. If you find that you have any further questions, feel free to give us a call. Our Service Director, Evan, is Maserati Factory Trained and would be more than happy to offer you sound advise.

All The Best,

Bennett Motor Werks
972.437.4216
 

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Taxes/insurance here in the states was around $3200/year for my 2016 GT. Not sure what that looks like for you in Canada.

You may need business insurance for the vehicle if you plan to take any business ownership advantages. I'd speak with an accountant to really understand the benefits (I have no clue on Canadian taxes, other than it's higher than Cheech & Chong). It's different than saying you can simply write off gas (such as a realtor). There may be something similar to Section 179 that we have available in the US, but this is a deduction... so it depends on how your business is structured, your tax liabilities, etc...

Financing can be tough if you're self employed, based on how your business entity is setup, you may not actually be recording much income for various other benefits.

There's a ton of great information on this forum that can really help save you in the long run if you're willing to grab a wrench.

I'd go test drive one and decide from there... your priorities are different from others, tough to advise you how to spend your money.
 

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Taxes/insurance here in the states was around $3200/year for my 2016 GT. Not sure what that looks like for you in Canada.
WOW, my insurance on the GT is $1200/year, that's full insurance with glass which is pricey for this thing and our roads are pure shite so glass is a must.

You car write off insurance, gas, and maintenance or you can simply just do mileage on the car. Usually in Canada people will pay out mileage on the car for the first 3 to 4 years then when the car is off warranty you sell it to the company which means they pay insurance and maintenance. Then you buy it back when it is worth next to nothing. This is very simple to do if you have more than one car, but there are pricing limits on some purchases which is why often times you will see some really crazy lease returns on Astons, Bentleys etc....
 
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