They say a vehicle can lose up to 20% of its value once it has been driven off the lot, but spare a thought for the owner of a brand new £260,000 Ferrari 430 Scuderia whose pride and joy was rendered completely worthless just an hour after it was bought.
A motorist in United Kingdom had a "miraculous escape" when his $262,000 Ferrari Scuderia veered off a highway and caught fire in a field in South Yorkshire. Miraculously, he emerged largely unscathed.
According to Independent, the driver is reported to have lost control of the vehicle, hitting the protective bars on the road, causing fire.
Road conditions were wet at the time, the police added.
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It careered off the motorway before going airbourne and bursting into flames in the middle of a field.
South Yorkshire Police said on Twitter the driver lost control before the vehicle - which is capable of 0-60mph in just 3.6 seconds - "went airborne and burst into flames" in the wet conditions.
"It was a Ferrari", the driver had said when police asked him about the vehicle.
"Detecting a sense of damaged pride, he then said 'I've only just got it, picked it up an hour ago, '" they explained. "Please take more care".