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post #1 of 18 Old 04-23-2013, 07:48 AM Thread Starter
 
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New Purchase

Greetings,

I am planning to aquire my first ferrari this summer and was looking for your expertise. My budget is 50-65k. I was looking into 360 modena as it looks like the most affordable at that price point for the year 1999 and up. I don't have a specific car in mind as love them all. I am looking for car with low maint cost in my price range and most importatnly that it holds value as I might have to sell it within a year or two.

Thank you for you help
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post #2 of 18 Old 04-23-2013, 07:54 AM
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Welcome to F life

For your price range, a 360 may be a stretch, unless a very high mileage one or one with a questionable service history. When I was searching, even a well maintained 1999 360 was in the $70-80k.

A F355 or 456 is in that price range, but maintainence is a bit higher.

Why are you already planning on selling it within 1-2 years?

Can do a quick search on cars.com or autotrader and you can see what Ferraris are in your price range

Good luck

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post #3 of 18 Old 04-23-2013, 08:21 AM
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I can personally agree with MC on this one. Even being in the auto biz, and getting to strike a smoking deal on one I purchased in Dec, finding one in a sub-70k range that is not going to cost you 10K+ in getting her mechanically sound would be a stretch.

75-85K would be a much better starting point to have the sights set on....but with these cars, initial purchase price is only one part of the equation. True cost-to-own must have recent and/or needed work factored as well....along with miles of course.
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post #4 of 18 Old 04-23-2013, 08:53 AM Thread Starter
 
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Thank you so much for your promt reply. I live in NY, where do you recommend I start searching. Below is what i found based on what MC suggested would fit into my price range

1999 Ferrari F355, Used Cars For Sale - Carsforsale.com

2003 Ferrari 456, Used Cars For Sale - Carsforsale.com

1999 Ferrari F355, Used Cars For Sale - Carsforsale.com
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post #5 of 18 Old 04-23-2013, 09:12 AM
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Welcome to Ferrari Life. There are no low maintenance cost Ferraris. If that is what you are expecting, you might be better off with a Corvette or Porsche.

Taz
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Present: 575M 135171
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post #6 of 18 Old 04-23-2013, 10:01 AM Thread Starter
 
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Thanks Taz but what I meant to say is lower the other since some models require higher maint cost.

Thanks
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post #7 of 18 Old 04-23-2013, 10:08 AM
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I don't mean to sound contrary here, but Porsches are anything but cheap to maintain.
I am barely into the 6th month of ownership with my Ferrari, wich I have no plans whatsoever to sell. It's the kind of car that really gets to you!
Porsche, however I have owned for many years , gathering a small but nice collection. They are a hike up from MB or BMW maintenance costs. I realize they are cheaper than F-cars but nowhere as near as a Covette.
I again apologize for opposing your point of view, but I guess it's worth a grain of salt?
Best regards
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post #8 of 18 Old 04-23-2013, 10:15 AM
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In that case, a 360 is probably a better deal than an F355 unless the latter has had a recent engine-out service. The 360 has an access panel behind the seats for changing the cam belts every three years. Annual maintenance on most Ferraris is about $1K per year, way more when the belts need changing.

Carlos- No problem. All German high end cars are expensive to maintain, but not compared to a Ferrari. By comparison to either, Corvettes are wooden rounds.

Taz
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Last edited by tazandjan; 04-23-2013 at 10:41 AM.
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post #9 of 18 Old 04-23-2013, 10:36 AM Thread Starter
 
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Going back to your questions MC 355 as to why I might be planning to sell within a year or 2 is due to my possible relocation work wise from US.
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post #10 of 18 Old 04-23-2013, 10:43 AM
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Quote:
Originally Posted by wallstsearch View Post
Going back to your questions MC 355 as to why I might be planning to sell within a year or 2 is due to my possible relocation work wise from US.
If you're planning on selling in a few years then I'd say stretch to a well maintained 360. You should then only need the annual service.

Maserati GranTurismo MC - Giallo yellow
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F355 Berlinetta - Giallo Modena, 6-speed manual, carbon sport seats -recently traded in
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post #11 of 18 Old 04-23-2013, 10:52 AM Thread Starter
 
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thanks MC355. do you know aprox based on past results . how much value is it expected to lose? considering its well maintained.

thank you.
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post #12 of 18 Old 04-23-2013, 11:15 AM
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Not so much the value it will lose as the cost of tax up front you will not recover and the likely hit from having to sell her at a specific time. Sell to a dealer or consign to a dealer and you take another hit. Low end 360s have pretty much bottomed in value and are at good F355 prices.

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Past: Dino 246 GT 02984, 365 GTB/4 14009, 308 GTS 25125

Every day I look around, and if nobody is shooting at me, it is a pretty good day.

Last edited by tazandjan; 04-23-2013 at 08:03 PM.
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post #13 of 18 Old 04-23-2013, 04:23 PM
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Quote:
Originally Posted by wallstsearch View Post
thanks MC355. do you know aprox based on past results . how much value is it expected to lose? considering its well maintained.

thank you.
Many people never think of this - but consider contacting an actual leasing company....transworld etc...

You may find a way to work out a deal for them to lease a specific car you found to you....and not have to worry about re-sell value down the road. You can also tailor the lease to your driving and time plans - instead of being an all-in owner and paying cash in full, plus having to deal with depreciated value at term end.

In this instance - you would only be responsible for your yearly maintenance and monthly payment to said leasing company.

The best way to do the math - is see what total per months costs would be to lease....tally that with your expected maint. costs over the lease term.

If that figure is less than the total taxes/maint/fees/depreciation etc than purchasing out right - go that direction. Also consider ...what if it was in a minor accident etc...during your ownership - lowering the value heavily and making it very hard to re-sell so soon? The path of least risk in your specific case may also be the lease route as well.

Last edited by CBOND2X07; 04-24-2013 at 07:49 AM.
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post #14 of 18 Old 04-23-2013, 05:04 PM
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I would think resell of the 360 would be extremely hard. They flood the market quite literally there is currently a sea of them for sale on cars.com

Trade in, expect to get reamed on the value.

F430, 458 Challenge, Ford GT, Gallardo, C63 Black,
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post #15 of 18 Old 04-23-2013, 06:04 PM
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Wallstsearch,

I agree with everyone above.

Maybe I'm reading too much into your posts but seems like cost of ownership is a very big deal for you and a deal breaker. What I mean is, are you able to throw down $2-3k at any given time for the unexpected repairs? If not, maybe a F car is not for you right now...

Im not trying to deter you, but owning a F car is not simply buying one. Want you to have all the facts.

For personal example, I just got my F355 3 months ago. Had all its major service before purchase, but it's acting up, shipping to Dallas, which costs $800, diagnostics will cosr $300 or so, and who knows how much it'll cost to repair. This is the unexpected repairs I'm talking about...

Maserati GranTurismo MC - Giallo yellow
Porsche 911 GT3 RS - black with orange accents - wife's car
F355 Berlinetta - Giallo Modena, 6-speed manual, carbon sport seats -recently traded in
Porsche Cayenne Turbo S
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post #16 of 18 Old 04-24-2013, 07:53 AM
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Quote:
Originally Posted by MC355 View Post
For personal example, I just got my F355 3 months ago. Had all its major service before purchase, but it's acting up, shipping to Dallas, which costs $800, diagnostics will cosr $300 or so, and who knows how much it'll cost to repair. This is the unexpected repairs I'm talking about...
Exactly. Even mine - with factoring expected and unexpected items - I am pretty certain I will spend 10-12k on mine getting it how I want it within the first 12months of ownership...already am half-way there.

Some stuff is by choice rather than need - other things I had no choice because it needed them...
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post #17 of 18 Old 04-24-2013, 08:01 AM
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I am pretty certain I will spend 10-12k on mine getting it how I want it within the first 12months of ownership.
+1. I have no problem with this though - it's part of the fun of it.
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post #18 of 18 Old 04-24-2013, 02:53 PM
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Quote:
Originally Posted by CarlosR View Post
I don't mean to sound contrary here, but Porsches are anything but cheap to maintain.
I am barely into the 6th month of ownership with my Ferrari, wich I have no plans whatsoever to sell. It's the kind of car that really gets to you!
Porsche, however I have owned for many years , gathering a small but nice collection. They are a hike up from MB or BMW maintenance costs. I realize they are cheaper than F-cars but nowhere as near as a Covette.
I again apologize for opposing your point of view, but I guess it's worth a grain of salt?
Best regards
Carlos, I second your opinion. Porsche parts are exepnsive items, but when fixed properly, can go on and on.

w/ smiles

Jimmy
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