Ferrari 512 (1994)

Estimated running costs and MOT pass rates from 34 MOT tests in 2024.

Annual Cost

£2,738

£228/month

MOT Pass Rate

88%

Good

Road Tax

£375

Estimated/year

Est. Insurance

Grp 35-50

4943cc Petrol

Solid Option

88% pass rate, £2,738/year to run. 6 points above average.

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Petrol4943cc32 years old34 tests28k miles avg

Annual Running Costs

Fuel (Petrol, 4943cc)

~30 mpg

£1,958

Road Tax

Pre-2001 engine size rate

£375

MOT Test

£55

Predicted Repairs

£350

Total per year£2,738

Per month£228/mo

Per week£53/wk

Estimates based on 7,400 miles/year (UK average), petrol at 174.57p a litre (GOV.UK weekly average, week of 19 October 2026), GOV.UK road tax rates and repair likelihood from MOT data. Insurance not included.

Reliability Verdict

88% MOT pass rate(Good)

0%All-model avg: 82%100%

Good reliability. Occasional issues but generally solid. That's 6 points above the average of 82% across all models in our data. It falls below the Ferrari brand average of 96%.

88% of MOT tests on Ferrari 512s from 1994 ended in a pass in 2024, when they were about 30 years old. That's based on 34 tests across the UK, retests included. The average mileage recorded at those tests was 28,306 miles.

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How Does It Compare?

Rank among 1994 models28th of 204(top 14%)

Rank among Ferrari models138th of 146(bottom 7%)

vs average of all models+6%(82% avg)

vs 1994 models average+12%(76% avg)

vs Ferrari average-8%(96% avg)

Mileage Analysis

28,306

Average miles

222,000

Expected for age

The average 1994 Ferrari 512 had 28,306 miles on the clock at its 2024 MOT, which is significantly below the expected 222,000 miles for a 30-year-old car. Low-mileage examples may have spent time sitting unused, so check for issues like corroded brakes or perished rubber seals.

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Ferrari 512 by Year

Year	Pass Rate	Tests	Avg Mileage
1994	88%	34	28,306 mi
1993	94%	34	17,871 mi

Similar Cars to Consider

Mercedes SL

1995 · 4973cc Petrol

£2,738/year

85%

-3%

TVR Chimaera

1994 · 4988cc Petrol

£2,738/year

83%

-5%

Mercedes 500

1993 · 4973cc Petrol

£2,738/year

85%

-3%

TVR Griffith 500

1995 · 4988cc Petrol

£2,588/year

90%

+2%

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About the 1994 Ferrari 512

The 1994 Ferrari 512 is a luxury car. Our records list a 4943cc petrol engine, though engines vary between versions. 34 MOT tests were recorded on this model in 2024, making it a rare model on UK roads. It ranks in the top 14% of all 1994 models for MOT pass rate.

With an average of 28,306 miles recorded at its 2024 MOT tests, Ferrari 512 owners tend to use this car less than the typical driver. Very low mileage could mean the car has been garaged or used only for short trips, which can cause its own issues like battery drain and moisture buildup.

1994 Ferrari 512 Fuel Costs

The 4943cc petrol engine is on the larger side, so fuel won't be this car's strong point. Expect around 30 mpg in mixed driving, which works out to roughly £1,958 per year with petrol at 174.57p per litre (GOV.UK weekly average, week of 19 October 2026; based on 7,400 miles per year).

What does it cost to own a 1994 Ferrari 512?

Total estimated annual running cost is £2,738 (£228/month), broken down as £1,958 fuel, £375 road tax, £55 MOT, and £350 predicted repairs. Repair costs are moderate, reflecting the 88% pass rate. Keeping on top of servicing will help avoid surprises.

Buying a Used 1994 Ferrari 512

At 32 years old, the Ferrari 512 is firmly in budget territory. Purchase prices are low, but check for rust, worn suspension bushes, and electrical gremlins. A full service history is especially valuable at this age. Note: with only 34 tests in our data, these figures should be treated as indicative rather than definitive.

Common Issues to Watch For

These are typical issues for cars of this age, fuel type and engine size, not faults recorded on this model's MOT tests. Use them as a checklist when you view one.

Timing Chain / Belt

Watch out

At 32 years old, check whether the timing belt has been replaced (typically due every 5-7 years or 60,000-100,000 miles). A snapped belt can destroy the engine.

Oil Consumption

Medium risk

Larger petrol engines can develop higher oil consumption as they age. Check the oil level and look for blue smoke from the exhaust.

Rust and Corrosion

Watch out

At 10+ years, check wheel arches, sills, subframe, and brake lines for rust. Structural corrosion is an MOT failure. Prevention is far cheaper than repair.

Suspension Bushings

Watch out

Rubber suspension bushes harden and crack with age, causing knocking noises and vague handling. A full refresh costs £300-£800 depending on the car.

Service History

Low risk

Always request a full service history. Regular servicing is the single best indicator of how well a car has been maintained, regardless of mileage.

Running Costs Compared

How the 1994 Ferrari 512 stacks up against similar cars for estimated annual running costs, insurance group, and tax.

Car	Pass Rate	Fuel/yr	Tax/yr	Est. Ins. Group	Total/yr
Ferrari 512(1994)	88%	£1,958	£375	Grp 35-50	£2,738
Mercedes SL(1995)	85%	£1,958	£375	Grp 35-50	£2,738same
TVR Chimaera(1994)	83%	£1,958	£375	Grp 35-50	£2,738same
Mercedes 500(1993)	85%	£1,958	£375	Grp 35-50	£2,738same
TVR Griffith 500(1995)	90%	£1,958	£375	Grp 35-50	£2,588-£150

Estimates based on 7,400 miles/year, GOV.UK average pump prices for the week of 19 October 2026, GOV.UK road tax rates and MOT data. Insurance groups are our rough estimate from engine size, not official groups. Actual costs vary by driver, location, and usage.

Questions about the 1994 Ferrari 512

Is the 1994 Ferrari 512 reliable?

Good reliability. Occasional issues but generally solid. 88% of MOT tests on 1994 Ferrari 512s ended in a pass, from 34 tests (DVSA MOT data for tests in 2024, retests included). That's 6 points above the average of 82% across all models in the same data.

How much does a 1994 Ferrari 512 cost to run?

Our estimate is £2,738 a year (£228 a month): £1,958 fuel, £375 road tax, £55 MOT and £350 predicted repairs, based on 7,400 miles a year. Insurance is not included.

What is the MOT pass rate for a 1994 Ferrari 512?

88% of 34 MOT tests on the 1994 Ferrari 512 ended in a pass (DVSA MOT data for tests in 2024, retests included). That ranks it 28th of 204 models first registered in 1994 (top 14%).

What is the average mileage for a 1994 Ferrari 512?

The average mileage recorded at MOT tests on the 1994 Ferrari 512 is 28,306 miles, which is significantly below the expected 222,000 miles for a 30-year-old car. Low-mileage examples may have spent time sitting unused, so check for issues like corroded brakes or perished rubber seals.