Porsche vs Ferrari as an Investment: Data Only

The 2025 Porsche 911 Carrera costs $120,100 at base MSRP. The 2024 Ferrari Roma Coupe starts at approximately $238,000. Yet over five years, the Ferrari’s ownership math looks considerably less punishing than that price gap suggests — and the Porsche’s reputation as the “smart buy” gets complicated fast when you run the actual numbers.

This analysis focuses on the total cost of ownership (TCO) comparison between two of the most frequently debated performance cars in the $150k+ market. The framing here is investment utility — specifically, what each car costs you to own relative to what it returns at resale.

Key Numbers at a Glance

Sources: KBB Cost to Own (2025), iSeeCars depreciation study (2025), MoneyGeek insurance data (2026), EIA national average gasoline price $3.10/gal (2025). Ferrari Roma registration/fees estimated at $17,500 over five years based on segment averages; model-specific primary source data unavailable — see methodology.

Depreciation: Where the 911’s Reputation Starts to Crack

The Porsche 911 has earned its reputation as the depreciation-resistant sports car. iSeeCars analyzed over 800,000 five-year-old used cars sold from March 2024 to February 2025 and found the 911 posted the lowest five-year depreciation of any vehicle — 19.5% on average, equating to roughly $24,428 off MSRP. A 2026 iSeeCars study covering cars sold through February 2026 updated that figure: the 911 Coupe now retains 92.2% of its value after five years.

KBB’s 2025 cost-to-own data for the base 911 Carrera tells a more specific story: $63,394 in cumulative depreciation over five years against a $120,100 MSRP, leaving a residual value of $58,701. That’s a 52.7% retention rate on the KBB model — lower than iSeeCars’ figure because KBB accounts for a fully optioned cash price rather than bare MSRP, and assumes typical state fees at purchase. The gap between these two methodologies matters: iSeeCars uses actual transaction data across the used market; KBB projects forward from current pricing. Both are directionally consistent, which gives reasonable confidence in the 911’s value retention story.

The Ferrari Roma’s depreciation is where the narrative gets counterintuitive. iSeeCars reports a 21.5% five-year depreciation rate for the Roma Coupe — only marginally worse than the 911. In dollar terms, that 21.5% applied to a ~$238,000 MSRP produces a depreciation hit of approximately $51,170, leaving a residual value of roughly $186,830. The 911 loses more in dollar depreciation ($63,394 vs. ~$51,170) despite costing half as much. For a detailed look at how depreciation compounds across ownership years, the pattern is consistent with what Ferrari’s scarcity model produces: constrained supply keeps used prices elevated.

Three-year data reinforces this. iSeeCars puts the Roma’s three-year depreciation at just 5.6%, with a residual of $225,024. The 911 Carrera’s three-year figure on KBB runs closer to 43% cumulative — though the iSeeCars 911 three-year data shows 29.9%, with some of the spread attributable to methodology. Either way, the Roma’s short-term value loss is remarkably low for a current-production vehicle.

The Overlooked Cost Advantage: Ferrari’s Seven-Year Maintenance Program

Most TCO comparisons between these two brands stop at depreciation and insurance — and that omission systematically understates the Ferrari’s ownership economics. Every new Ferrari comes with a seven-year Genuine Maintenance Program covering scheduled services, oil changes, brake fluid, filters, and labor at authorized dealers, at no additional charge. For a five-year ownership period, that means a Roma buyer’s scheduled maintenance bill is effectively zero from the manufacturer.

KBB estimates the 911 Carrera’s five-year maintenance at $11,664. Porsche’s own published Scheduled Maintenance Plan pricing (updated December 2024) shows $10,205 for 911 Specialty models across the 2-, 4-, and 6-year service intervals. Out-of-pocket maintenance for the Roma over five years runs to consumables only — tires, battery replacements, and items not covered under the program. A conservative estimate of $3,000 in out-of-pocket costs over five years is reasonable for a driver at 15,000 miles annually, consistent with firsthand owner accounts documented by KBB and industry sources.

That $8,664+ maintenance advantage doesn’t make the Roma cheap — it just shifts the comparison. Luxury car maintenance costs at the exotic tier can vary wildly with driving intensity, and any owner who tracks the Roma will see that advantage evaporate quickly through tire and brake consumption. The program also transfers to subsequent owners, which supports the residual value story further.

Insurance: Closer Than You’d Expect

Given the Roma’s $238,000 replacement value versus the 911 Carrera’s $120,100, you’d reasonably expect Ferrari insurance to run twice as much. It doesn’t. MoneyGeek’s 2026 data puts the Ferrari Roma’s full-coverage average at $307 per month across model years, with the 2024 model at $352 per month — $4,224 annually. Insurify reports an average of $601 per month for Ferrari models broadly, reflecting the full range from older to newer models. For a model-by-model insurance comparison, the Roma sits toward the middle of the Ferrari lineup by premium.

The 911 Carrera’s insurance is not dramatically cheaper. KBB’s five-year cost-to-own model for the base 2025 Carrera shows $19,460 in five-year insurance — $3,892 annually. InsuranceOpedia puts the 2025 model-year average at $3,704 per year. MoneyGeek’s figure for the 911 broadly is $297 per month across all model years, with newer high-trim models pushing the number higher. The spread between Carrera and Roma insurance is roughly $300–$500 annually — a rounding error at the annual operating cost level of these vehicles.

Both figures carry significant regional variance. A 911 in Manhattan or Miami will insure substantially differently from one in suburban Ohio. The data above represents national averages for a 40-year-old driver with a clean record; actual $150k+ household profiles may carry higher agreed-value policies, which can push Ferrari premiums materially above these averages.

Fuel Costs: The One Area Where the 911 Wins Cleanly

The 2025 Porsche 911 Carrera is EPA-rated at 21 miles per gallon combined (18 city / 25 highway), per fueleconomy.gov. The 2024 Ferrari Roma Coupe is rated at 19 combined (17 city / 22 highway), per KBB and the EPA. Both require premium fuel — the calculation below uses EIA’s verified 2025 national average for regular grade at $3.10 per gallon as a floor; premium typically runs $0.30–$0.50 higher, which both models share proportionally.

At 15,000 miles annually using $3.10 per gallon as a proxy: the 911 Carrera burns approximately 714 gallons per year, producing an annual fuel cost of roughly $2,213. The Roma burns approximately 789 gallons, producing roughly $2,447 annually — a difference of $234 per year, or about $1,170 over five years. KBB’s modeled figure for the 911 Carrera is $10,341 over five years. A broader look at fuel cost differences between gas luxury cars and performance EVs shows how this math shifts for electrified alternatives. The Roma’s fuel cost disadvantage is real but modest relative to the overall ownership comparison.

Five-Year TCO: Building the Ferrari Side of the Ledger

KBB publishes a complete five-year cost-to-own for the 2025 Porsche 911 Carrera: $131,014, comprising $63,394 in depreciation and $67,620 in operating expenses. That is the most defensible primary-source figure available for the 911 and forms the basis of the Porsche side of this comparison.

KBB does not publish a five-year TCO for the Ferrari Roma. The figures below are constructed from verified primary and secondary sources, with each component sourced individually. Registration and fees for exotic vehicles vary substantially by state — registration fees on luxury cars differ significantly by state — and a five-year estimate of $17,500 is used here based on segment averages for vehicles priced above $200,000 in high-registration states. This is the single unverified line item in the Roma’s TCO, and readers in low-registration states (Florida, Montana) should reduce this figure materially.

Sources: iSeeCars Ferrari Roma depreciation study (2025); MoneyGeek Ferrari insurance data (2026); Ferrari Genuine Maintenance Program (KBB/Ferrari official); EPA fueleconomy.gov (2024 Roma); EIA national average gasoline price (2025 annual average). Registration estimate is a range approximation — see scope disclaimer.

The contrast is stark. The Roma’s total operating spend over five years (~$105,027) approaches the 911 Carrera’s full five-year TCO ($131,014) — while the Ferrari retains nearly $186,830 in value at exit versus the Porsche’s $58,701. If you sell both vehicles at year five, the Ferrari buyer recovers far more of the purchase price. For a deeper look at how these exit-value dynamics play out, a three-year cost comparison between buying and leasing shows how residual assumptions affect total outlay at every exit point.

Finluxy True Ownership Cost Score

The Finluxy True Ownership Cost Score expresses five-year TCO as a percentage of MSRP. Formula: (purchase price + running costs − residual value) ÷ MSRP × 100. A lower score means better value retention relative to what you paid. The score isolates the “cost of use” — what the car actually costs you net of what you get back when you sell.

Sources: KBB 2025 cost-to-own (Porsche 911 Carrera); iSeeCars depreciation (Ferrari Roma); MoneyGeek insurance (2026); EIA fuel price (2025); Ferrari Genuine Maintenance Program data. Ferrari running costs exclude registration estimate to minimize unverified figures; inclusion of estimated $17,500 fees raises Roma score to approximately 51.4%.

At 107.4%, the Porsche 911 Carrera costs slightly more than its sticker price to own over five years on a net basis — depreciation exceeds what the running costs “buy back.” The Ferrari Roma at 44.1% (or ~51.4% including estimated registration) means the Roma costs less than half its sticker price in net terms over five years. The main driver is the extraordinary residual value combined with Ferrari’s maintenance program eliminating the largest variable operating cost during the ownership window most buyers occupy.

This is the figure that most coverage of this comparison misses entirely. The 911 is universally praised for depreciation resistance, and deservedly — 19.5% average five-year depreciation is exceptional for any production vehicle. But the Roma’s nominal dollar depreciation ($51,170) is lower in absolute terms against a much higher base price, and the maintenance subsidy shaves another $8,000+ from what most buyers would assume is the Roma’s operating cost disadvantage. The net result is a car that costs roughly $24,000 less to own on a net basis over five years, despite costing $118,000 more to buy.

What the Data Doesn’t Capture

Two risks sit outside this model. First, Ferrari’s resale strength depends on production discipline and brand demand remaining where they are today. Exotic car ownership costs across the Italian supercar segment showed meaningful price softening from 2022 through mid-2024 after pandemic-era spikes; the Roma’s depreciation curve could steepen if Ferrari’s allocation strategy shifts or buyer demand weakens. The iSeeCars five-year figure of 21.5% is based on actual transaction data, but it reflects a period when supply constraints were still present.

Second, the Ferrari maintenance program’s generosity in years one through seven can give way to significant costs in years eight through ten, when iSeeCars shows 42.1% cumulative depreciation and out-of-pocket service bills rise to the $1,500–$3,000 annual range cited by industry sources. Buyers who intend to hold beyond seven years face a materially different cost structure than the five-year window modeled here. The 911’s relative predictability — backed by extensive owner data and Porsche’s well-documented service schedule — is a genuine advantage for longer holds. Five-year repair cost data across luxury brands consistently shows Porsche outperforming most European rivals on unpredictability.

Comparison across different MSRP tiers also has limits. At $120,100 versus $238,000, these aren’t direct substitutes for most buyers. A $150k+ household considering a 911 Carrera isn’t necessarily cross-shopping a Roma. The comparison is more useful as an investment framework: if you’re allocating a portion of discretionary capital to a performance vehicle and care about net cost of use, the Ferrari Roma’s economics are considerably less punishing than its price tag implies. Understanding the income threshold where a $100k car makes financial sense is a useful starting point before moving into the $200k+ tier.

The $150k+ Household Decision Frame

For a household at $300k–$500k annual income carrying a strong balance sheet, neither car is a financial stress. The relevant question shifts from “can I afford this” to “what does owning this actually cost me net of recovery, and does that cost align with my use pattern.” On that framing, the Ferrari Roma is the more defensible expenditure over a standard five-year cycle — provided the buyer can deploy $238,000 in purchase capital rather than $120,100 and holds through at least four years to clear the steepest early depreciation.

The 911 Carrera is more liquid. There are more buyers for a $58,000 used 911 than there are for a $187,000 used Roma, which means exit timing is more flexible and risk of sitting on an unsold car is lower. The Roma’s residual value is high in dollar terms, but the pool of qualified buyers is smaller. Certified pre-owned programs at Ferrari dealers partially address this — the real cost savings from certified pre-owned luxury cars are meaningful if the Roma enters the CPO pipeline — but exit liquidity is an honest trade-off.

Buyers evaluating the Carrera S or GTS trim levels will find somewhat different economics — the Carrera S shows $76,770 in five-year depreciation against higher running costs per KBB, producing a less favorable Finluxy True Ownership Cost Score than the base Carrera. The Porsche 911 annual cost breakdown goes deeper on trim-level variation. Similarly, the Roma Spider’s depreciation profile differs from the Coupe — iSeeCars shows the Spider at 30.7% over five years, materially worse than the Coupe’s 21.5%, which would weaken the Ferrari’s score in convertible form. The full luxury car ownership costs guide covers how body style and drivetrain affect residual values across the segment.

One practical note: the Ferrari’s $238,000 entry point sits well above the threshold at which most household financial planning guidance suggests allocating to a single non-income-producing asset. The five-year net cost analysis presented here is not a case that the Roma is cheap — it’s a case that the ownership math is structured differently than the sticker price suggests, and that the Porsche’s TCO advantage is smaller in net terms than brand reputation implies. Both cars belong to a spending tier where the decision logic is personal preference first, finance second. What changes with data is the second part of that conversation.