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THIS is the moment a £445k Ferrari was completely destroyed after going out of control and smashing into a house in a shocking accident.

CCTV footage shows the yellow Ferrari 296 GTB driver losing control of the speeding car and crashing into the wall.

Yellow Ferrari crashing into a house.
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The moment the speeding Ferrari crashed into the house
Yellow Ferrari crashing into a house.
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Footage shows an OAP narrowly escaping being run over
Yellow Ferrari crashing into a house.
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The £445k Ferrari was completely destroyed

The out-of-control Ferrari narrowly missed hitting a retired old man - just by a metre - before crashing into a residence in São Paulo, Brazil.

Shocking pictures of the aftermath of the crash show the car completely destroyed.

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 to hear the loud noise of the crash.

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"The house alarms went off. At that moment we realized that there was a rather unusual vehicle, a brand new yellow Ferrari that had crashed into the property’s gate," he added.

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 a supercar crash was branded the world's most expensive pile-up - with an eye-watering combined cost of £6million.

The pricey prang occurred after one of the Ferrari drivers is believed to have panicked on a tight hairpin in Austria on November 10.

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Embarrassingly, the driver appears to have triggered a four-car pile-up and financial disaster.

After the two Ferraris crashed, a McLaren Elva worth £1.4million joined the growing queue.

Then, to top it off, a £191,545 Bentley Continental GTC crashed into the back of the McLaren.

It left all four flashy supercars sitting smashed by the rockface.

Meanwhile, a Brit was killed and three others injured in a catastrophic crash after their shared bike was hit by a car in New Zealand.

One cyclist died at the scene after being fatally injured in the crash while the three others were airlifted to hospital with serious injuries.

According to local reports, the driver was unharmed in the incident and is in contact with the police.

Yellow Ferrari crashing into a house.
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The car was speeding more than the allowed limit before losing control
Yellow Ferrari crashing into a house.
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Nearby people rushed to the scene of the accident to help the driver get out of the car wreckage
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