The Ferrari 360 was without doubt one of the world’s best-looking cars, but it was soon overtaken in the power stakes. When Lamborghini introduced the 500bhp Gallardo, Bentley the 560bhp GT and Mercedes-Benz the 476bhp SL 55, its 400bhp started to look rather modest.

The solution came in the shape of the new Ferrari 430. Launched to the UK in early summer 2005 as a successor to the 360, the Ferrari 430 produced a more satisfactory 483bhp, hit 60mph in just 4sec, and was capable of nearly 200mph.

At its heart is a 4.3 litre normally aspirated V8. The basic unit comes from Maserati, but by the time the Ferrari engineers had finished changing every moving part and only the engine block and cylinder heads remained, power had increased by a hefty 83bhp. The engine has all the performance-enhancing tricks you’d expect, and produces its maximum power at a heady 8500rpm, accompanied by one of the finest-sounding exhaust notes on the planet.

But vast power is academic if it cannot be transferred to the road, and unlike many competitors, Ferrari did not opt for an all-wheel-drive transmission. Instead it stuck with the simplicity of rear-wheel drive and added some very clever electronics to stop the power from spinning away in a plume of burning rubber.

Controlling the system is a five-position, anodised-metal switch – which Ferrari refers to as the manettino – mounted on the lower right-hand side of the steering wheel. This adjusts the vehicle stability and traction control systems, together with the electronic differential and suspension settings. On the road the result is that the Ferrari 430 provides a surprisingly supple ride when the manettino is set at its least aggressive position. But switch it into sport or race mode and the car transforms into a road-going racing car.

Seated on an aluminium chassis and draped in lightweight alloy body panels, the Ferrari 430 is a simply stunning car. Put it next to a 360 and you’ll be struck by the aerodynamic differences, including a more pronounced tail spoiler giving increased downforce. As the car gains speed, its effect increases and Ferrari claims you get a maximum of 617lb of force pressing down on your car at 186mph. Having the equivalent of three large chaps seated on your roof, forcing the tyres onto the tarmac, improves straight-line stability and cornering.

Step over the deep sill and slip inside the leather-clad interior and it is immediately obvious that the 430 is as good on the inside as out. Beautifully crafted seats are complemented by a well designed dashboard that retains a bespoke feel and is robustly assembled.

Dominating the driver’s view is the large rev counter, available – like the upholstery stitching – in red or yellow. Further options include carbon fibre seats and ceramic-composite brakes that endow the car with impressive stopping power.

Ferrari also offers the 430 with a choice of two transmissions, a traditional six-speed manual with floor-mounted gearlever or an F1-style paddle-shift system at the steering wheel. The paddle-shift has proven the more popular, with around 80%-90% of owners paying £6,000 more for it. On the secondhand market, that premium remains intact.

Which brings us to the thorny issue of used prices. A new 430 would have cost the original owner around £120,000 in 2005. The good news for that owner is that on the open market their car will still fetch almost as much today. But that, of course, is bad news for secondhand buyers.

A brand new 2007 car lists at nearly £130,000, so it’s clear these cars keep their value extraordinarily well. The main advantage of buying used is that you leapfrog a waiting list as long as three years.

So if you have the money to buy one, and you want it now, the classified ads present the route to owning one of the world’s most desirable cars.

Seats Optional racing seats reduce kerb weight by around 44lb
Steering Possibly the only chink in the 430’s armour, as some say it’s too light
Front spoiler Poor ground clearance means scrapes
Brakes Standard disc brakes are good but the larger, optional uprated ceramic-composite brakes are better
Engine Sits beneath a transparent cover, leaving it on show for admiration
Steering wheel Carries engine starter button and suspension/traction control switch
Wheels 19in five-spoke alloys as standard
Luggage space Limited storage space under the nose of the car
Security UK cars have no deadlocking but are fitted with electronic tracking
Residual values Used 2005 models cost almost as much as when new. Long waiting lists mean used 2007 models can cost more than new ones

Vital statistics Values

Model Ferrari 430 F1 coupé
Engine 4308cc, eight cylinders
Power 483bhp
Transmission Six-speed semi-automatic
Fuel 15.4mpg (combined)
Acceleration 0-62mph: 4sec
Top speed 196mph

Mileage 5,000 10,000 20,000

2005 05
Trade £111,500 £108,700 £104,000
Retail £124,000 £121,250 £116,500

2006 06
Trade £123,600 £120,500 £115,300
Retail £134,000 £131,000 £125,750

2007 07
Trade £136,100 £132,700 £126,900
Retail £147,000 £143,750 £137,750

The one to buy

A 2005 05 Ferrari 430 F1 coupé with 20,000 miles.
Pay £116,500 at a dealer or £112,000 privately

Or for similar money

2006 06 Aston Martin Vanquish V12
2006 06 Bentley GTC convertible
2004 04 Lamborghini Murciélago VT
New Aston Martin DB9 V12 Touchtronic
New Porsche 911 Turbo Cabriolet Tip S

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