[markd751]

Hey all,

I've been thinking about buying a '98 550 maranello, it'll be my first Ferrari. Aside from insurance, how much should I expect to pay for annual maintanence? The car currently has 26K miles. Any info is appreciated!

[Dermot]

Hi Mark.

The 550 is an excellent choice, one of my personal fav Ferrari's

Has the major service been done on the 550? On average this will need to be done every three years. The last major on my 550, including a few other bits and pieces cost 10k. If you can get a 550 that has had the major service performed already and has a well documented service history then that's a car to consider. Be very careful of buying with little or no service history. My service history ran about 20 pages totaling some $30k in service records over 9 years. Average cost per year was therefore about 3-4k. I do not know if this is above or below average for a 550, my car had 16k miles and was in super condition.

[Boxer]

Also make sure all the recalls have been done. Oil pressure was an issue on many of the early cars.

[JazzyO]

Hi Markd571, welcome to F-chat.

The 550 is an excellent choice in my book. Apart from a busted battery last week and a failed clutch bearing 3 weeks ago my car has been faultless.

Costs in 22,000 miles and 40 months have been a new set of 4 tyres ($2.5k), annual minor services of around $500, and a major service of $4k.

She is a thirsty beast but if you buy a car like this and worry about fuel consumption then something's wrong with you in my book.

Epic car, I thoroughly enjoyed the drive through the UK last week.

As Boxer mentioned, make sure the updates have been done, and it seems that the failed clutch bearing of my car is a typical problem in the 30,000 - 40,000 mile range on 550's. So be prepared for that if you buy a higher mileage car. Even though 550's are very reliable, I make sure I have some cash in the bank to sort issues out.

Have a look at the excellent FerrariLife Buyer's Guide, as well.


Onno

[markd751]

Hey everyone,

Thanks for the replies, it seems hard to find this info online, I'm glad that actual ferrari owners are on this forum

[Toggie]

I happen to own a '98 550. Bought mine about 2 years ago.
I got a fresh timing belt change as part of the deal when I bought it, so maintenance costs has been minimal so far.

I have to agree it is a great car. Fast off the line and corners well, but the real joy is to use like a GT car and get out on some open highways for some high speed cruising.

I drove mine 3.5 hours to the 2010 FCA Annual Meet in Milllville, NJ week before last. Here is a pic of my car in the hotel parking lot.
.

[ECSofVirginia]

As the others said, as a whole the 550 is very easy to own compared to other Ferraris in the same time period.

With that in mind there are a couple of known issues that are inherent in all 550's. It's well worth your time and money to have a specialist look over the car and records to verify whether these things have already been address or if you'll need to make the investment.

[markd751]

Toggie....very nice! I love it!

[Toggie]

Originally Posted by markd751

Toggie....very nice! I love it!

It is mostly stock but does have the 575M 19" modular wheels on it, a built-in radar detector in the dash, and tubi tail pipes.

Otherwise, it is your typical tdf blue/tan 550. Sells for about $65k - $75k these days.

The original spec's are: six-speed manual, V12 with 485hp, 419 ft-lbs of torque, 199 mph top speed, and 12.7 sec's in the 1/4 mile. The car feels and drives like none of those spec's were overly exaggerated back then.

Here is another pic of it in NJ.

[markd751]

Wait, so are you saying that the spec's are overly exaggerated? or not?

[355dreamer]

Originally Posted by Toggie

It is mostly stock but does have the 575M 19" modular wheels on it, a built-in radar detector in the dash, and tubi tail pipes.

Otherwise, it is your typical tdf blue/tan 550. Sells for about $65k - $75k these days.

The original spec's are: six-speed manual, V12 with 485hp, 419 ft-lbs of torque, 199 mph top speed, and 12.7 sec's in the 1/4 mile. The car feels and drives like none of those spec's were overly exaggerated back then.

Here is another pic of it in NJ.

That's a great angle.

[ECSofVirginia]

Toggie was saying that car feels like it performs just they way it was advertised to.

I have found that the Euro spec (grey market imported) cars tend to make a bit more power. Last one I had on a dyno put down 445whp on a dyno dyamics chassis dyno...a brand which is said to read about 5-10% lower than actual.

We also got it to do 185mph fairly easily, on a public road.

[Toggie]

Originally Posted by 355dreamer

That's a great angle.

Thanks. I was playing around with the camera trying to be "creative".
I stood on the concrete barriers on the side of the track to get that elevation.

[Toggie]

Originally Posted by markd751

Wait, so are you saying that the spec's are overly exaggerated? or not?

Originally Posted by ECSofVirginia

Toggie was saying that car feels like it performs just they way it was advertised to.
...

Yes, that was what I was saying.

[Boxer]

Definitely recommend reading the buyers guide:

http://www.ferrarilife.com/library/guides.php

and getting a professional pre purchase inspection done on any car you are seriously considering buying.

[JazzyO]

Originally Posted by markd751

Wait, so are you saying that the spec's are overly exaggerated? or not?

The 550 doesn't get to its advertised 320 km/h top speed. It's been clocked at a banking by a German magazine at 307 km/h. Other than that, it performs to the specifications given by Ferrari, and that top speed is almost completely theoretical anyway unless you live close to, or in, Germany.

For me, it is an immensely satisfying car, speed wise, and you never get enough of that torque. In-gear accelleration is fantastic, overtaking is a joy.


Onno

[markd751]

One quick question:

The 550 I found is in awesome condition, with 26K miles and major service just got done on it, they're asking for 68K, which makes me wonder because that's kinda low, no? What do you guys think?

[ECSofVirginia]

I've done 186mph (299km/h) on a public road in a Euro spec 550...I don't think the numbers are that far off...I think the personality of each car is slightly different.

What year is the car? $68k for a 550 isn't very low...especially for having 26k. I know of a 97 black/black with 37k with a recent major that's going for similar money.

[markd751]

Originally Posted by ECSofVirginia

I've done 186mph (299km/h) on a public road in a Euro spec 550...I don't think the numbers are that far off...I think the personality of each car is slightly different.

What year is the car? $68k for a 550 isn't very low...especially for having 26k. I know of a 97 black/black with 37k with a recent major that's going for similar money.

It's a 98 Nero w/ Tan leather

[markd751]

Also,

I want to get a pre-purchase inspection done on the car, how do I go about doing this and how much should I expect to pay?? Thanks!