FERRARI 550 (1998)
Running costs, common problems, and reliability data based on 162 real MOT tests in 2024.
MOT Pass Rate
90%
Total Tests (2024)
162
Avg Mileage
38,015 mi
Est. Annual Cost
£2,097
Is the 1998 FERRARI 550 reliable?
Excellent reliability. Very few MOT failures. That's 8 points above the national average of 82%. It falls below the FERRARI brand average of 96%.
At 26 years old, 90% of FERRARI 550s from 1998 passed their MOT first time in 2024. That's based on 162 tests across the UK. The average mileage at this age is 38,015 miles.
How does the 1998 FERRARI 550 compare?
Mileage Analysis
The average 1998 FERRARI 550 has 38,015 miles on the clock, which is significantly below the expected 192,400 miles for a 26-year-old car. Low-mileage examples may have spent time sitting unused, so check for issues like corroded brakes or perished rubber seals.
Best year to buy a FERRARI 550?
The most reliable year is the 1999 model with a 98% MOT pass rate, while the 1998 model has the lowest at 90%. Consider a different year if reliability is a priority.
How much does a 1998 FERRARI 550 cost to run?
Based on 7,400 miles/year (UK average), current fuel prices, and repair likelihood from MOT pass rate data. Insurance not included.
FERRARI 550 by Year
Checking a specific FERRARI 550?
Enter the reg plate to see its individual MOT history, mileage verification, and predicted costs.
About the 1998 FERRARI 550
The 1998 FERRARI 550 is a luxury with a 5474cc petrol engine. 162 of these vehicles were MOT tested in 2024, making it a rare model on UK roads. It ranks in the top 10% of all 1998 cars for reliability.
With an average of 38,015 miles at 26 years old, FERRARI 550 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.
1998 FERRARI 550 Fuel Costs
The 5474cc 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 £1,592 per year at current petrol prices of 142p per litre (based on 7,400 miles per year).
What does it cost to own a 1998 FERRARI 550?
Total estimated annual running cost is £2,097 (£175/month), broken down as £1592 fuel, £250 road tax, £55 MOT, and £200 predicted repairs. The low repair estimate reflects the excellent 90% pass rate. These cars rarely fail their MOT, so unexpected bills are less likely.
FERRARI 550 Reliability Trend
Newer FERRARI 550s show better MOT pass rates than older ones, with an average improvement of 5 percentage points.
Buying a Used 1998 FERRARI 550
At 26 years old, the FERRARI 550 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.
Alternatives to the 1998 FERRARI 550
If reliability is your priority, there's one similar car with a higher MOT pass rate. Here are comparable petrol cars with similar engines:
- MERCEDES CLK (2000) 81% pass rate (-9%) from 2,099 tests
- ASTON MARTIN DB7 (2000) 89% pass rate (-1%) from 493 tests
- ROLLS ROYCE SILVER SERAPH (1998) 93% pass rate (+3%) from 306 tests
- MERCEDES UNCLASSIFIED (1999) 78% pass rate (-12%) from 223 tests