A £445,000 Ferrari narrowly missed an elderly pedestrian and went out of control before crashing into a house.

CCTV footage shows the driver losing control of the yellow supercar and smashing into the wall.

The Ferrari 296 GTB narrowly missed a retired old man before crashing into the residence in São Paulo, Brazil, The Sun reports.

Moments after the crash, footage shows the debris spilling all over the road and smoke coming out of the vehicle.

The owner of the property said that the luxury motor was being driven by an employee of a Ferrari dealership at the time of the accident.

He said he was inside his house but was shocked when he heard the smash.

He said: ‘The house alarms went off. At that moment we realised that there was a rather unusual vehicle, a brand new yellow Ferrari that had crashed into the property’s gate.’

Nearby people rushed to the scene of the accident to help the driver get out of the car wreckage.

The lucky retired pensioner said: ‘[The driver] was fine, a little dizzy. He sat under the tree, and then the people took him away.’

It is understood the car was speeding more than the allowed limit before losing control.

It comes after last year a crash involving two Ferraris, a McLaren and a Bentley with a combined value of £6million was labelled the most expensive crash of the year. 

The incident took place on November 10 on a mountain road near Pfunds, in Austria’s Tyrol State, where a £447,000 Ferrari 812 Superfast collided with a £4million LaFerrari.

According to reports, the Ferrari Superfast had been driving behind the LaFerrari before a collision took place on a tight hairpin bend on the country road at around 2.40pm.

That crash then triggered a chain reaction, with the £1.4million McLaren Elva ramming into the two cars and escalating the chaos.

A police spokesperson said one of the drivers had been ‘blinded by the sun from behind and braked’.

Ultimately, the £192,000 Bentley Continental GTC at the rear crashed into the lineup, forcing the luxury sports cars into the rock face.

Police reportedly said none of the drivers were injured in the collision.

Authorities are investigating whether the drivers, aged between 40 and 52, and reportedly from the canton of Graubuenden, Switzerland, maintained adequate safety distances.

A photo of the crash, capturing all four luxury vehicles wedged against the rock face, surfaced on the social media platform Reddit, sparking a flurry of user comments.

One user said: ‘Photographic evidence that money can’t buy good sense!’

Another commented: ‘This accident will cost more in repairs than I will make in my entire life. Absolutely insane.’

And a third added: ‘You can’t park there.’