Urgent- Urgent Need Advice

CV-4606 · 10-16-2011, 03:48 PM

Before my friend hops on a plane to look at this car I need everyone's advice PLEASE.
He's going to look at a 2006 F430 F1, 3100 miles, 2 owners. The last owner had for 9 months and put on 950 miles. First owner had for 4.5 years and logged 2150 miles. Car comes with a 1 year Ferrari 1 Year Power Warranty. Ferrari Dealer says car is in perfect condition and will do CPO, 100 point insp and detail before purchase. Clutch life remaining 80%. Clean CarFax. The price is $145,000. Is this a good price for this car ??
Shields, yellow brakes, leather head liner, battery tender, Dayton style seats, Corsa Red, 6 cd player, saddle interior all books, luggage and docs included. Please everyone comment on the PRICE.
I'll check back in a couple of hours.
Many Thanks

il Capolino · 10-16-2011, 03:56 PM

Offer 110.000 to 120.000? You can get a 2008 with half the mileage for 145.000.

brettgagnon · 10-16-2011, 04:19 PM

agree with Capo, 2008's now low 100-120s (been watching closely)

That is high, regardless if it is a Ferrari Dealer approved

355dreamer · 10-16-2011, 04:32 PM

125k would be fair for both parties.

il Capolino · 10-16-2011, 04:39 PM

Quote:

Originally Posted by 355dreamer

125k would be fair for both parties.

Squeeze it to the limit. There is an abundance of 430 and prices are dropping. Put 110.000 on the table and walk if they reject.

CV-4606 · 10-16-2011, 04:52 PM

Thanks I'm shocked. Didn't know prices have come down that much. keep the replys comming Please.
thanks more than you'll know

wetpet · 10-16-2011, 04:55 PM

+1. buyers market. don't cave to the red mist!

Quote:

Originally Posted by il Capolino

Squeeze it to the limit. There is an abundance of 430 and prices are dropping. Put 110.000 on the table and walk if they reject.

Neonzapper · 10-16-2011, 05:28 PM

Quote:

Originally Posted by CV-4606

Thanks I'm shocked. Didn't know prices have come down that much. keep the replys comming Please.
thanks more than you'll know

You don't buy newer exotic cars of numerous production for investment purposes. You buy them for fever.

Killer58 · 10-16-2011, 06:07 PM

I think Capo nailed it. That price would get you an 08 or 09 in the same condition. Prices are dropping due to a spiral effect: the turbulent economy has increased inventory. Increased inventory is in turn driving down prices. All the while the cars are still depreciating.

I'd say offer $120K and be ready to walk away. Even if they let you out the door, they'll eventually call you back and take your offer.

Good luck, and remember, we want pictures.

CV-4606 · 10-16-2011, 06:55 PM

Quote:

Originally Posted by Killer58

I think Capo nailed it. That price would get you an 08 or 09 in the same condition. Prices are dropping due to a spiral effect: the turbulent economy has increased inventory. Increased inventory is in turn driving down prices. All the while the cars are still depreciating.

I'd say offer $120K and be ready to walk away. Even if they let you out the door, they'll eventually call you back and take your offer.

Good luck, and remember, we want pictures.

So if he's looking to spend 110-120 he should be looking at a 2006 no later for a good clean car from a dealer with warranty low mileage?

Killer58 · 10-16-2011, 07:41 PM

CV,

You've got to remember, ours are approximations based on a snapshot of the market. So the reverse may not hold exactly. The advice you've gotten so far neglects certain unknowns: such as what the dealer has in the car? Maybe he's got more than market price into the car and is unwilling to take a loss. Does he have more than one person interested in the car? Is it on consignment with the seller unwilling to budge on the price? Etc., etc.. These things we can't know, but would certainly frame your negotiations with the dealer. Oh, and dealers frequently ask more than market price.

I think most of us would agree that $140K is top of the market for a 430. You can subtract some for being an 06, and add a bit for "resale" red, shields, and Daytona seats. Factor in the warranty, a fudge factor, and negotiating room, and you can see why most of us center around $120K.

I wouldn't split hairs over $10K. If I failed to get the car of my dreams because of $10K, I'd be mad at: ME.

CV-4606 · 10-16-2011, 08:04 PM

The car is dealer owned. Traded for a 599 one week ago. Do not know what dealer paid for car. If my friend offers 115-120,000 I guess he'll get some reaction from the dealer. I guess he could consider a counter by the dealer and walk if he thinks it's too much. If you can only afford so much you have to draw the line somewhere. There are plenty of 430's out there for sale but I don't see any 2006's at 110-120000 like they mention on this post.

CV-4606 · 10-16-2011, 08:06 PM

Quote:

Originally Posted by il Capolino

Offer 110.000 to 120.000? You can get a 2008 with half the mileage for 145.000.

Where is a 2008 for 145.000?

CV-4606 · 10-16-2011, 08:08 PM

Quote:

Originally Posted by brettgagnon

agree with Capo, 2008's now low 100-120s (been watching closely)

That is high, regardless if it is a Ferrari Dealer approved

Where?

il Capolino · 10-16-2011, 08:11 PM

Quote:

Originally Posted by CV-4606

Where is a 2008 for 145.000?

You have 78 430 for sale only on Classic Driver:

http://www.classicdriver.com/uk/find...odelflag=12729

CV-4606 · 10-16-2011, 08:50 PM

Quote:

Originally Posted by il Capolino

You have 78 430 for sale only on Classic Driver:

http://www.classicdriver.com/uk/find...odelflag=12729

Thanks for your link. With much respect I do not see any 2008 430 F1 for 145.000

CV-4606 · 10-16-2011, 09:25 PM

Quote:

Originally Posted by il Capolino

You have 78 430 for sale only on Classic Driver:

http://www.classicdriver.com/uk/find...odelflag=12729

With much respect I do not see any 2006 430F1 for 110-120000 , or 2008 for 145000.

il Capolino · 10-16-2011, 09:27 PM

Quote:

Originally Posted by CV-4606

Thanks for your link. With much respect I do not see any 2008 430 F1 for 145.000

If you want it bang on 145.000 you might want to check more forums. Check prices of 2006 and newer and you will see your friends target car is off. Buy the car you want and do your best deal, good luck.

JazzyO · 10-16-2011, 09:47 PM

Don't see what's so urgent about this. Plenty of 430's on the market, summer's over, another crisis is coming, good cars for good prices come to those who wait.

Onno

CV-4606 · 10-16-2011, 10:10 PM

Quote:

Originally Posted by JazzyO

Don't see what's so urgent about this. Plenty of 430's on the market, summer's over, another crisis is coming, good cars for good prices come to those who wait.

Onno

Good advice. Winter is coming. Cash is king. We shall see in the spring.

10-16-2011, 03:48 PM	#1
CV-4606 Owner Join Date: Jun 2011 Location: USA- NC Ferrari Life Posts: 78 Name: CV	Urgent- Urgent Need Advice Before my friend hops on a plane to look at this car I need everyone's advice PLEASE. He's going to look at a 2006 F430 F1, 3100 miles, 2 owners. The last owner had for 9 months and put on 950 miles. First owner had for 4.5 years and logged 2150 miles. Car comes with a 1 year Ferrari 1 Year Power Warranty. Ferrari Dealer says car is in perfect condition and will do CPO, 100 point insp and detail before purchase. Clutch life remaining 80%. Clean CarFax. The price is $145,000. Is this a good price for this car ?? Shields, yellow brakes, leather head liner, battery tender, Dayton style seats, Corsa Red, 6 cd player, saddle interior all books, luggage and docs included. Please everyone comment on the PRICE. I'll check back in a couple of hours. Many Thanks Last edited by CV-4606; 10-16-2011 at 03:50 PM. Reason: spelling

10-16-2011, 03:56 PM	#2
il Capolino Owner Elite Member Join Date: Dec 2009 Location: Switzerland Ferrari Life Posts: 1,023 Name: Capo	Offer 110.000 to 120.000? You can get a 2008 with half the mileage for 145.000. Salve, Capo The bad news: Time flies The good news: I'm the pilot You cannot make life longer but you can make it wider and also much higher.

10-16-2011, 04:19 PM	#3
brettgagnon Owner Elite Member Join Date: Apr 2011 Location: Canada Ferrari Life Posts: 426 Name: Brett Gagnon	agree with Capo, 2008's now low 100-120s (been watching closely) That is high, regardless if it is a Ferrari Dealer approved - Brett ----------------------- Current: 1978 308 GTB (25823) Past: Other: 2011 Audi A6 Avant

10-16-2011, 04:32 PM	#4
355dreamer Owner Elite Member Join Date: Jul 2006 Location: MAR Ferrari Life Posts: 693 Name: L.C.	125k would be fair for both parties. Everything you have heard is true.

10-16-2011, 04:52 PM	#6
CV-4606 Owner Join Date: Jun 2011 Location: USA- NC Ferrari Life Posts: 78 Name: CV	Thanks I'm shocked. Didn't know prices have come down that much. keep the replys comming Please. thanks more than you'll know Last edited by CV-4606; 10-16-2011 at 04:54 PM. Reason: spelling

10-16-2011, 06:07 PM	#9
Killer58 Owner Elite Member Join Date: May 2010 Ferrari Life Posts: 1,418 Name: David	I think Capo nailed it. That price would get you an 08 or 09 in the same condition. Prices are dropping due to a spiral effect: the turbulent economy has increased inventory. Increased inventory is in turn driving down prices. All the while the cars are still depreciating. I'd say offer $120K and be ready to walk away. Even if they let you out the door, they'll eventually call you back and take your offer. Good luck, and remember, we want pictures.

10-16-2011, 07:41 PM	#11
Killer58 Owner Elite Member Join Date: May 2010 Ferrari Life Posts: 1,418 Name: David	CV, You've got to remember, ours are approximations based on a snapshot of the market. So the reverse may not hold exactly. The advice you've gotten so far neglects certain unknowns: such as what the dealer has in the car? Maybe he's got more than market price into the car and is unwilling to take a loss. Does he have more than one person interested in the car? Is it on consignment with the seller unwilling to budge on the price? Etc., etc.. These things we can't know, but would certainly frame your negotiations with the dealer. Oh, and dealers frequently ask more than market price. I think most of us would agree that $140K is top of the market for a 430. You can subtract some for being an 06, and add a bit for "resale" red, shields, and Daytona seats. Factor in the warranty, a fudge factor, and negotiating room, and you can see why most of us center around $120K. I wouldn't split hairs over $10K. If I failed to get the car of my dreams because of $10K, I'd be mad at: ME.

10-16-2011, 08:04 PM	#12
CV-4606 Owner Join Date: Jun 2011 Location: USA- NC Ferrari Life Posts: 78 Name: CV	The car is dealer owned. Traded for a 599 one week ago. Do not know what dealer paid for car. If my friend offers 115-120,000 I guess he'll get some reaction from the dealer. I guess he could consider a counter by the dealer and walk if he thinks it's too much. If you can only afford so much you have to draw the line somewhere. There are plenty of 430's out there for sale but I don't see any 2006's at 110-120000 like they mention on this post.

10-16-2011, 09:47 PM	#19
JazzyO Owner Elite Member Join Date: Feb 2007 Location: Jersey, Channel Islands Ferrari Life Posts: 4,281	Don't see what's so urgent about this. Plenty of 430's on the market, summer's over, another crisis is coming, good cars for good prices come to those who wait. Onno Future: 458 Italia (May 2012) Present: 550 Maranello, 330GTC, 365BB (x2) Past: eh - see above.

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