Originally Posted by coffeeis4closers View Post
I intend to DRIVE this car. Probably at least 5k-7k a year. My intention is to keep it for as long as I am on the planet... and mostly service it myself. (Yes - I am in for a learning experience here, but that's why I'm on the planet!) Many of you have mentioned that Ferraris are unique in that their value drops significanlty as the miles start to add up. Should I truly be concerned about buying a 4 year old car with 15k miles? 20k miles? What concerns are there for a car with 20k miles vs. 5k miles? 20k miles seems like not alot to me... I have bought several modern era used cars (Porsches, BMWs, Mercedes, C5/6 Vettes) with more miles than this - with great results....
I think there are a number of factors here. Some people really want or need to move their cars, so they price theirs lower. Others are in no hurry to sell, perhaps have more than one Ferrari and won't sell unless they get "their" price. In this market, they might just keep waiting.
No doubt there are also more desirable color and trim combinations than others. F430s are very expensive cars to buy new, and those with such means can option these cars the way they want. While some people take the "safe" route with a classic red/tan color combo, etc., some decide to express their individual taste and choose combinations that not everyone else might appreciate. These cars might well be priced at the extreme low or high ends (low for those needing/wanting to move their "odd" cars; high for those who can hold out for the right buyer who has the same tastes and wants exclusivity).
I suggest making any offer you feel comfortable with, regardless of the asking price, as you don't know until you try that what category the seller is in. It's possible they are asking crazy prices but really will take a lot less, especially if the car has been sitting and they need to move it. Dealers have the least flexibility on price. They need to stay in business so they try very hard not to get upside down. If they paid or allowed $X in trade to a customer for another car, it's relatively rare they will go much lower than $X, unless they have financing problems.
Finally, since you intend to drive the car rather than collect it, a car that passes PPI with flying colors but lacks service documentation might still be a decent buy, but the price should reflect the fact that it will be harder to pass along the car to the next buyer without the records.
Reasonable miles IMHO are better than ultra low miles, unless the car is new enough still to be under warranty. An ultra low miles car that is out of warranty may not be sorted out for factory defects. For some reason, Ferraris with more than 10k miles are regarded as "high" mile cars, but if you intend to drive it, it won't matter, and it's likely a better buy. I think that people had been afraid to put more than 10k miles on their cars, figuring that would destroy their resale value. That might have been a decent strategy in a time when such cars managed to hold their value, but that's not true in the present economy. They depreciate regardless of whether you cross that magic 10k line, so in my view, you ought to take advantage of the fact that so many people did not put many miles on their cars, and buy one - but at your price.