F430 purchase - Ferrari Life
 
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post #1 of 11 Old 11-24-2013, 08:25 AM Thread Starter
 
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F430 purchase

Hello-

New to the forum.

A few other friends of mine purchased a Ferrari recently. They have bought 458s. As such, I have gotten the 'bug' for a while now (over 8 months) and have been actively looking. It's always been a dream to purchase one. I recently saw a 2006 F430 at an authorized Ferrari Dealer. The vehicle is on consignment. They were asking $126k. I have them down to $120k. The car has just a little over 15k in miles. The car is flawless. 3 owner. No accidents. Drives beautiful. It's an F1 (which helps). It had it's "major" 4 year service in 2011, so the major service doesn't have to be done until 2015 says the dealer. Other specs include:
NICE F430 F1 COUPE. RED WITH TAN, UNDER FERRARI POWERTRAIN WARRANTY UNTILL MARCH OF 2014. JUST SERVICED, OPTIONS INCLUDE RED CALIPERS, 6 CD CHANGER, POWER SEATS, SHIELDS, RED STITCHING, AND CARBON DASH VENTS.

Do you guys think this is a good deal? I figure the winter months are the best time to get a 'deal'? I plan on having this car for 1-2 years so I was going to put 20-30% down and then finance the rest. I'll probably downgrade to a Mercedes in a few years or something if I get the 'Ferrari bug" out of my system...something tells me I wont though. The dealer says every year I drive it, just 'throw $15k out the window" in value. That's what I should be comfortable with. Does that make sense to you guys? Also do I really need to do a PPI if the car has consistent service records at the dealer I'm purchasing it from? It looks pretty clean.

What kind of expenses should I anticipate? I heard that every year doing the fluids/engine oil change ~$700. Every four year major service I hear is ~$2500 (since these aren't like the F360s that require the timing belt change). Tires I understand can be $500. But the rear ones were apparently replaced last year.

I plan on driving this car only on the weekends, I don't anticipate more than 2-3k a year in mileage. I'm 33 yo. I'm not going to take it on a trac or race this, its more just for recreation and pleasure riding.

Any of your help would be great. Glad to join a forum like this!

Last edited by Ferrari007; 11-24-2013 at 09:33 AM.
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post #2 of 11 Old 11-24-2013, 10:20 PM
 
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Sounds like you're being realistic other than leaving out the part that all Ferrari owners are burdened with. Namely the ten to fifteen thousand dollar disaster surprise that is always lurking around the corner. It's unlikely to happen, but I'd say if you absolutely could not stand a ten thousand dollar hit some dark day in the future, you might consider getting that Merc now and pass on the Ferrari. In other words, you don't want to be broke and at the same time own a seriously broken Ferrari you can't afford to repair; it takes all the fun out of ownership.

If your $15K depreciation estimate is accurate you might consider buying a nice older 360 which would greatly reduce that figure. For arguments sake, let's say you might lose only $5K on an older (and significantly less expensive) car and keep the other $10K in an emergency repair fund which, with a little luck, you'll never have to spend and can pocket at the end of your one to two year ownership experience. Just a thought.
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post #3 of 11 Old 11-25-2013, 03:11 AM
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I'm not sure I buy the depreciation figure, I think it's a bit high.
But I most certainly agree with the advice to have an emergency cash fund.
I suppose there are a few who are immune to the F bite. However, in my case, there is no cure.

Good luck on the deal.

Of all the narcissists I know, I love me the most.

Last edited by Killer58; 11-25-2013 at 05:22 PM.
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post #4 of 11 Old 11-25-2013, 07:34 AM
 
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Couple of caveats.

With the info published you have not verified condition of 430. You are going on a "gut feel " that the "MAJOR" performed in 2011 is equal to clean bill of health.

This November 2013 over two years gone by . A PPI by a capable mechanic is mandatory. For example, is steering rack leaking, condition of gaskets, engine mounts, and brakes.

Owners defer spending. All these cars need repairs. $20 is not uncommon.

Floor is 100k since 360 selling for 85-100k. $10 k decline in value maybe.

Go spend $500 on PPI...if dealer balks on this then walk away

don Knudsen
naples, fl


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post #5 of 11 Old 11-25-2013, 08:02 AM
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you must get an independent PPI. frankly, most dealers are the last people I would trust when it comes to evaluating the condition of their own inventory. You will likely have to pay to have it shipped back and forth to the person you pick for the PPI. I don't buy the depreciation number either. those have taken the major hit. The will continue to trickle down over the next few years, but I doubt 30k in the next two. specially if you buy well and keep in good shape. Price wise, seems in the ballpark, of course I would rather pay 110K. Spend the money now on a thorough PPI and it will be the best money you spend on this car. Also realize there are plenty out there and don't get emotionally attached to this one. Have fun and good luck, you won't be trading it for a merc in two years.



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post #6 of 11 Old 11-26-2013, 08:57 PM Thread Starter
 
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I forgot to mention it has a PowerTrain Warranty until March or May 2014,,,,
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post #7 of 11 Old 11-28-2013, 10:43 AM
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Unfortunately powertrain is a huge let down, I never once had success making a claim under warranty. Power Cube is the only warranty option I would bother with. Train is nice for a catastrophic failure (and only that, sorry for being the bearer of bad news).

A 2006 F430 with 15K miles for 120?

If it is a spider that seems about 5K too high. If a coupe 10-12,500 high.

Service intervals are every 5,000 miles, every 15,000 is your major (or three years). Major service is only around 1,500, the 5,000 services are typically just oil and knick knacks (500-750$).

Do you have a clutch reading?

I would take it at 120K pending they give you a 10,000$ credit with the service department. If it has not had a clutch replacement or shows more than 25% wear walk away.

F430, 458 Challenge, Ford GT, Gallardo, C63 Black,
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post #8 of 11 Old 11-28-2013, 02:50 PM Thread Starter
 
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Quote:
Originally Posted by PMCCHRIS View Post
Unfortunately powertrain is a huge let down, I never once had success making a claim under warranty. Power Cube is the only warranty option I would bother with. Train is nice for a catastrophic failure (and only that, sorry for being the bearer of bad news).

A 2006 F430 with 15K miles for 120?

If it is a spider that seems about 5K too high. If a coupe 10-12,500 high.

Service intervals are every 5,000 miles, every 15,000 is your major (or three years). Major service is only around 1,500, the 5,000 services are typically just oil and knick knacks (500-750$).

Do you have a clutch reading?

I would take it at 120K pending they give you a 10,000$ credit with the service department. If it has not had a clutch replacement or shows more than 25% wear walk away.


Thanks for the info. Clutch reading was 17%. I purchased the car. It's beautiful.
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post #9 of 11 Old 11-28-2013, 10:11 PM
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congrats

NOW PICTURES.


Welcome to Ferrarilife.

I suspect you got a good value for a nice car with a reasonable service history.
I love the back seat buyers who can always find the perfect car with service history etc for 10K less than I can...... I couldn't and several of my friends who looked for a year or more, could not as well. The price is the price......


Nothing is protection against failure/repairs even a warranty or PPI. Those help with assessing the value of the car in the transaction. The warranty helps but most here (myself included) did not opt for the warranty.


Post pictures and enjoy the car.


Drive it well.


ScottS

I have regretted often, but repented never. Is this a good thing? -Enzo Ferrari
2012 California Argento Nurburgring /Nero 2005 F430 Nero 6spd. 2009 Maserati GT-S F1
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post #10 of 11 Old 11-29-2013, 12:27 AM
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Well said Scott and BTW much credo for your tagline mate!

David.

Ferrari - Corsa/Nero 16M Past - 09 F430, 09 Cali
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post #11 of 11 Old 12-04-2013, 10:08 AM
 
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007

Congrats 007. I love your handle! why didnt i think of that??? Anyhow, i know I'm a bit late but i think you scored a decent deal for 120K from an authorized dealer. The clutch reading of 17% sounds low from my research but oh well...i suppose it all depends on the driving style. mostly highway driving perhaps? My '06 had 12K miles but 42% wear which i attirbute to maybe mostly city and stop and go driving? Oh well, hope you had a PPI done though! one can learn a LOT about his or her car with a good PPI.
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