But if you're looking into buying your first Ferrari and your budget is a little more modest, the Ferrari Approved scheme could be your best option. Expert guide editor Keith Collantine took two Ferrari Approved cars for a drive.

We're led into a garage at Graypaul Ferrari dealership in Nottingham. Up on the ramps is a tidy looking Ferrari F430.

The senior aftersales manager John Kemp tells us: "this is one of the cars we're considering for the scheme at the moment. But we're worried it might be too damaged."

Damaged? At first glance this car looks spotless. Hand me the keys and I'm likely to tear your arm off.

But then Kemp shows us what he and the expert Ferrari technicians see when they look at a car like this.

He inspects the rear bodywork and runs his fingertips along its curvaceous form: "This is too smooth," he says, "it may have been re-sprayed and over-polished."

Underneath the car is more evidence of damage repair. Bodywork between the front wheels which should be black has tell-tale smudges of red paint.

Kemp painstakingly peers at the front bumper, swivelling his head to let the bright light catch any imperfections. A trio of hairline cracks, each barely a couple of centimetres long, betray another problem at the front of the car.

Inspect the Ferrari F430 for yourself with our slide show:

There's nothing here the team can't repair to make the car 100% fit for sale. But that doesn't mean it's good enough for the Ferrari Approved scheme.

The cars have to pass a mammoth 190-point inspection covering bodywork, mechanicals, electrics and more. They must have covered less than 56,000 miles and be under nine years old.

The Ferrari Approved scheme was launched in Britain in 2007 at the request of British dealers. Since then similar schemes have been rolled out in Europe and North America.

Senior aftersales manager John Kemp explains: "This serves as an entry point for new customers to the Ferrari brand. They know they are buying a used Ferrari with the best possible level of preparation and warranty and a bona fide history."

Have a look at an F50 and other Ferrari Approved cars: