Used 430 - First Time ( & Clueless) Ferrari Buyer - Ferrari Life
 
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post #1 of 11 Old 05-30-2013, 01:29 PM Thread Starter
 
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Used 430 - First Time ( & Clueless) Ferrari Buyer

After driving 911 Turbos for the last 15 years, moving to an SUV, then a high end sedan when I had small kids, Im back on the market for a fun car and have decided to go Ferrari. Ive honed in on the 430 for a few reasons - most importantly, the 458 is too pricey for my appetite and the 430 has already taken some serious depreciation. Im interested in driving the car for a couple of years over the summer. I will put between 4-5k miles on the car each year going back and forth to the Hamptons and driving around there. I'd like advise on the following:

1. When I search for used 430s the asking prices are all over the place. I have dealers quoting me high 100s and I see plenty posted in the low 100s. I dont even know where to begin to determine fair value for the car. Can anyone help pleeeease!
2. What can I expect the range of depreciation to be like in 2 years and 9k miles later? What about cost of maintenance?
3. What will the sales process and cycle look like on the back end (Im in NYC)?

I am justifying buying the car because I assume the cost of ownership will be less than buying a new expensive car and selling it after two years. I lost an average of 50% of my purchase price on my last two cars which amounted to over $30k per year in depreciation for each.

The market for new cars is fairly transparent but I have to admit that after spending many days online looking at the market, I am still clueless and more confused than ever as to what I should be looking for and paying for a 430 that I can flip in a few years with a minimal depreciation hit. Any advice is welcome and much appreciated.

Last edited by Sheky; 05-30-2013 at 01:38 PM. Reason: accidentally hit save
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post #2 of 11 Old 05-30-2013, 05:36 PM
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Price is completely dependent upon the year it seams as well as coupe or spider... (assuming its not high mileage)
2005 - Coupe 120K Spider 130K
2006 130 140
2007 140 155
2008 155 170

My opinion in regards to fair pricing. I would shoot for one with carbon ceramic brakes, to avoid the maintenace. The brakes as well as clutch changes are the only things that are "expensive". At the dealer expect to pay 5K for pads + rotors. Rotor changes are rare though. 10K for a new clutch. Those prices are cut in half though at an independent.

The car is serviced every 5,000 miles. Every 15,000 Miles is the major service (all filters/fluids) around 1,500$. The other intervals typically just oil. Expect 500-1,000 for those.

I purchased an 05 spider for 135K and traded it in for 120K. That was buying at 10K miles and trading it in with 21K miles. Keep in mind trade in value, could have sold it most likely for 130K.

The REAL cost is if your gearbox goes out. Have you looked into the california? You can pick those up for 150-165K and they are still in time range for the power cube warranty through ferrari.




Quote:
Originally Posted by Sheky View Post
After driving 911 Turbos for the last 15 years, moving to an SUV, then a high end sedan when I had small kids, Im back on the market for a fun car and have decided to go Ferrari. Ive honed in on the 430 for a few reasons - most importantly, the 458 is too pricey for my appetite and the 430 has already taken some serious depreciation. Im interested in driving the car for a couple of years over the summer. I will put between 4-5k miles on the car each year going back and forth to the Hamptons and driving around there. I'd like advise on the following:

1. When I search for used 430s the asking prices are all over the place. I have dealers quoting me high 100s and I see plenty posted in the low 100s. I dont even know where to begin to determine fair value for the car. Can anyone help pleeeease!
2. What can I expect the range of depreciation to be like in 2 years and 9k miles later? What about cost of maintenance?
3. What will the sales process and cycle look like on the back end (Im in NYC)?

I am justifying buying the car because I assume the cost of ownership will be less than buying a new expensive car and selling it after two years. I lost an average of 50% of my purchase price on my last two cars which amounted to over $30k per year in depreciation for each.

The market for new cars is fairly transparent but I have to admit that after spending many days online looking at the market, I am still clueless and more confused than ever as to what I should be looking for and paying for a 430 that I can flip in a few years with a minimal depreciation hit. Any advice is welcome and much appreciated.

F430, 458 Challenge, Ford GT, Gallardo, C63 Black,
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post #3 of 11 Old 05-30-2013, 08:03 PM
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thats a great summary right there.
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post #4 of 11 Old 05-30-2013, 08:57 PM
 
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Here's the F430 i'd buy right now IF i were still in the market. i shopped for 6 months b4 landing my F430. patience is required if you want the right car for the right price. otheriwse, if you have lots of money, you can buy whatever and whenever. sounds like you want to be more careful with your car dollars this time around. The Ferrari us a great choice for what you are wanting. Hwoever, if you bought a high priced one, you are more likley to lose more money. I'd be shooting for one with lower miles (under 15K) and in the 125-135K range if i were in your shoes. That should get you a decent deal on an '06 or an awesome deal on an '07. no matter hat anyone says, it is a buyers market. If they won't sell at your price, you wait it out. this kind of purchase is NOT a need for most of us. If you have to have it, then expect to pay up1

here's that link:

https://www.ferrarichat.com/forum/fe...102-miles.html

here's another that i would consider..but w/o challenge grill, i'd most likely decline or push for lower price. the first one i would only buy if i intend to keep. i am hoping F430 will not dip below 90K if one owns a decent one.
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post #5 of 11 Old 05-31-2013, 05:00 AM
 
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430 buying strategy

Hi,
If you want some piece of mind set your parameters on the specifics ..i.e. color,F1 versus manual, and coupe versus spider.

Cheng is right on having finished his search and purchase. The market is volatile to say the least and exacerbated by inflated values posted by independent dealers.

Whatever price you see in most instances they are inflated by $8000-$10000.

I am thinking on where I want to be when it comes to sell. Ideally, the 430 should have one or two owners if you are looking at 2006 or higher. The service should be by an authorized Ferrari dealer with the exception of the pros like Brian, Dave and Josh among others.

I worked a strategy to obtain piece of mind. I like the prices at Ferrari Washington, Sterling VA and have the PPI performed by Josh of ECS this is not to say there no others around..but this works for me.

What I get is a car history from service at the dealer where the customer has decided to sell and have consigned to dealer. I have an expert to examine car for defects and the dealer is willing and has used Josh before.

So now I have reliability and provenance established supported with records to making selling easier when the time comes.

Pricing ...you will find reasonable values at Newport, Washington, Steve Hill and Seattle.

There are many independents selling cars with little or no documentation and distorted prices. That is why you can have the same car and year with a $20,000 to $30000 price differential.
In my opinion be really careful of independent dealers since most do not know Ferraris and in most cases the cars are bought at auction.

I monitor the dealers and have found some very values. Since I am focusing on 360 there are fewer of these at the dealers and many more at the independents from auctions.

I hope this info helps and by the way you can include Jakes and foreign Cars Italia and Sports auto

goodluck

don Knudsen

ps. Cheng I have the shirts choice between red and yellow
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post #6 of 11 Old 05-31-2013, 09:29 AM Thread Starter
 
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Thanks all for your comments. Very helpful. I am flexible on color, manual v. F1, Spider v. Coupe. I am most interested in buying the RIGHT CAR RIGHT so that I can drive it for a few years and sell it EASILY without losing a bunch of money. Are there qualified/unconflicted brokers or consultants out there that you can recommend to help find me find the perfect car? I feel like if I do this on my own I will have a 6 month learning curve!
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post #7 of 11 Old 05-31-2013, 10:27 AM
 
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TRY FERRARI DENVER 2005 f430 $130,000 13K MILES

SERVICED BY THEM . CUSTOMER CONSIGNED THEM TO SELL

I HAVE OTHERS I NEED TO LOOK UP

DON




NVE+R +
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post #8 of 11 Old 05-31-2013, 10:50 AM
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Quote:
Originally Posted by Sheky View Post
I feel like if I do this on my own I will have a 6 month learning curve!
What's wrong with that? I searched for 1 year for Miss Right before I plunked down the money the same week she was listed for sale! Look at it this way:

Buying a Ferrari is as much a journey as it was to amass the wherewithal to do so. It's a journey of self-reflection and a quest for knowledge.

If you buy one with a quick trigger, you're going to miss out on a lot of information that is crucial to being an informed buyer and, as you say, buying the "RIGHT CAR RIGHT," I think.

You're looking at an F430 right, so you should be able to answer some basic questions because you're buying a used exotic car. For instance, do you know what problems commonly affect these cars, and do you know what it costs to fix them? Do you have a qualified mechanic? Do you know what a PPI is, and do you know what a thorough PPI includes?

Also, if you want to do this right, you need to set your priorities. That means you need to know if you want a coupe or a spider. You need to know which gearbox you will buy. You need to know which color combination is a must have. You need to answer which options are required for you. If you have a resale on the horizon, then you should probably stick with a Red/Tan F1 Spider - those are plentiful but they're also in high demand. Red/Tan F1 coupes are also in demand. 3-pedal cars are more rare, and tend to command some price premiums. But, at the end of the day, you should really be buying the car for YOU, and not for the next guy.

It's just my opinion, but getting as much information about these cars BEFORE you buy one is a key to success, especially if you're planning to sell it in a few years. What's the rush? Take your time and enjoy the hunt. Trust me, it's worth it.
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post #9 of 11 Old 05-31-2013, 01:30 PM
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Quote:
Originally Posted by IDriveM5 View Post
What's wrong with that? I searched for 1 year for Miss Right before I plunked down the money the same week she was listed for sale! Look at it this way:

Buying a Ferrari is as much a journey as it was to amass the wherewithal to do so. It's a journey of self-reflection and a quest for knowledge.

If you buy one with a quick trigger, you're going to miss out on a lot of information that is crucial to being an informed buyer and, as you say, buying the "RIGHT CAR RIGHT," I think.

You're looking at an F430 right, so you should be able to answer some basic questions because you're buying a used exotic car. For instance, do you know what problems commonly affect these cars, and do you know what it costs to fix them? Do you have a qualified mechanic? Do you know what a PPI is, and do you know what a thorough PPI includes?

Also, if you want to do this right, you need to set your priorities. That means you need to know if you want a coupe or a spider. You need to know which gearbox you will buy. You need to know which color combination is a must have. You need to answer which options are required for you. If you have a resale on the horizon, then you should probably stick with a Red/Tan F1 Spider - those are plentiful but they're also in high demand. Red/Tan F1 coupes are also in demand. 3-pedal cars are more rare, and tend to command some price premiums. But, at the end of the day, you should really be buying the car for YOU, and not for the next guy.

It's just my opinion, but getting as much information about these cars BEFORE you buy one is a key to success, especially if you're planning to sell it in a few years. What's the rush? Take your time and enjoy the hunt. Trust me, it's worth it.
+1.

w/ smiles

Jimmy
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post #10 of 11 Old 06-01-2013, 04:57 AM
 
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Don

Don,

mechanic told me software was updated on later 06's. i'd avoid the 05' for that price. if it were me shopping and my budget was for the 05's, i would wait that car out til it came into the sub 120's. they are out there. since the denver car is an F dealer, they command more.

I'm also with Raj. it took me 6 months and A LOT of shopping. search my threads and you will know. It is very rewarding though. Learning about you potential car b4 you buy will not hurt and only help. take the time to learn. this place is a wealth of knowledge with peopel that are willing to help. who knows, you might make a freind of 2 here
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post #11 of 11 Old 06-02-2013, 07:12 AM
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the most important decision you will make is who does the pre purchase inspection.

True story.

I would rather pay 10k more and have Competizione do the inspection than save 10k and have a Florida dealer do it. Just saying....



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