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-   -   Difficulty on resale with documented Carfax "minor incident" (https://www.ferrarilife.com/forums/ferrari-pre-purchase-help/57529-difficulty-resale-documented-carfax.html)

erthmeld 11-06-2017 07:17 PM

Difficulty on resale with documented Carfax "minor incident"
 
I've been looking at F430's and have come across one that checks all the boxes for what I'm looking for, but it has a Carfax minor incident on the check. The car is priced to reflect this at below market value and I'm working on getting a PPI to confirm the repairs look good. The owner was up front about everything even before I had the Carfax report run and explained it was minor wheel well damage from a tire blowout that the first owner experienced. From all other aspects the care seems to have been meticulously cared for and maintained. My gut tells me that given a good PPI with solid pictures of the repaired area this should not be a deal breaker, but my risk averse brain is asking how much trouble I'm going to have when I go to sell in a few years. If everything looks good I'll fly out to see the car in person next week and anticipating a hell of a fun 1200 mile road trip back home in it.

Interested to hear opinions on minor repair items like this and how they affect resale from both a price and timeline perspective?

Cheers,
--Gene C.

cribbj 11-07-2017 03:03 AM

Gene, you're already "seeing" the adjustment of this minor incident in the purchase price. So if you're looking for a less expensive entre into the Ferrari world this is it. I would anticipate you'll have similar difficulties selling the car as the present owner, and it may take a little longer to move it.

But beware, Ferrari ownership is like an iceberg - the initial cost to purchase is only the tip of the iceberg. Keeping it going, and paying through the nose for Ferrari parts is the rest of the iceberg. Having said that, the quality of the later cars like the 430 is better and they seem more reliable than the cars of the late 90's.

erthmeld 11-07-2017 06:29 AM

Quote:

Originally Posted by cribbj (Post 723929)
Gene, you're already "seeing" the adjustment of this minor incident in the purchase price. So if you're looking for a less expensive entre into the Ferrari world this is it. I would anticipate you'll have similar difficulties selling the car as the present owner, and it may take a little longer to move it.

Great, thanks for the feedback! I would anticipate this given the nature of buying an older exotic, and while I wasn't specifically looking for a cheaper car this one fits my requirements better than most I've seen. I actually had my eye on an '08 locally that was almost identical and no incidents. Early birds and worms and all...

Quote:

Originally Posted by cribbj (Post 723929)
But beware, Ferrari ownership is like an iceberg - the initial cost to purchase is only the tip of the iceberg. Keeping it going, and paying through the nose for Ferrari parts is the rest of the iceberg. Having said that, the quality of the later cars like the 430 is better and they seem more reliable than the cars of the late 90's.

I've done quite a bit of lurking to get my head wrapped around this as well. It does help that I have a pretty extensive wrenching history as well as the tools and facilities to do a lot of work myself. Part of what I love about owning a car like this is working on it. Coming from 90's turbo imports, and having done some reasonably involved work on my 996 turbo and M3 I should be able to manage most jobs. Actually getting a short height lift installed to finish a full rebuild on the Stealth in the next month or so, which I'm sure will come in handy for the Ferrari at some point based on what I've read :wink4:.

Cheers,
--Gene C.


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