360 In contract to buy a 01 F360 - Ferrari Life
 
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post #1 of 8 Old 09-30-2014, 09:33 AM Thread Starter
 
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In contract to buy a 01 F360

Hello all, I am new to the forum and looking for some purchase advise. My name is KC and I am from the SF Bay Area.

This is how it all happened. I took my Maserati in for service at a Ferrari dealership service center and I saw this 6 speed Red F360 with Tan interior sitting on the lot, It was a car that I wish I had the money to buy when I just started working years ago. I started talking to the service manager and found out that the car is for sale.

Background

It is a 2001 with 20,000 miles. The first owner is a collector from NV and between 01-06, drove 16000 miles, all dealer services (it showed in the system but details of works done did not show). And he later sold it to a friend and from 06-now, it was only driven 4000 miles. The catch is, there is no records of service and the gentleman sadly passed away so we could not get much info.

The Ferrari dealer service manger said the car is in very good shape mechanically, and he is giving it a "restoration detailing" before delivering the car to me. So I signed a purchase contract to secure the car but can get out of the deal if I don't like the car when it is ready for viewing and test driving.

Questions

1). Should I be concern about the lack of service records in recent years? Knowing that is was well taken care of (based on exterior and interior) condition, and travelled only 4000 miles since last known dealer service records?

2). If I can purchase the car in mid $70s, is that a fair price? Is a car for sale by a Ferrari dealer more desirable? Can I trust that evaluation of the car?

3). If there is no services record, but the dealer gave it all green lights on their inspection check list, should I still go ahead with the 30k services and "restart" the clock? Or just a belt service and oil change.

4). Any recommendation on good independent Ferrari shop that you guys can recommend? Not so much about the cost of services, but I like the human factors of talking to the person working on your car. The dealer does not seems to provide that these days. Would there be a negative effect on the value of the car?

Thanks so much and I am looking forward to be part of this great Ferrari community.
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post #2 of 8 Old 10-01-2014, 07:19 AM
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1. not really. depends on the current condition. I would recommend a thorough pre-purchase inspection by an independent ferrari professional.

2. Don't know if mid 70's is a good deal as i have not been watching these cars. Dealer cars are no more desirable than any others in the same condition for the same price.No, you cannot trust the evaluation of the car. Remember, although they are a ferrari dealer, they are still used car salesman that want to move a used car.

3. I would have the car checked independently and take the advice of an independent, qualified ferrari mechanic. You will very likely have to do the service so consider this in the sales price.

4. If I were in SF i wouldn't buy it until this guy looked at it:
http://www.yelp.com/biz/ferrarri-ser...pany-san-ramon

In my mind, and the mind of many here, the car would be worth less if the dealer serviced it. Usually. YMMV.

Welcome to the ferrari community, full of great people and great cars. Enjoy.



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post #3 of 8 Old 10-01-2014, 08:04 AM
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Like Ed, I have no idea on price, but if the Ferrari system is showing all services carried out on schedule by a Ferrari agent, then I would not be overly concerned by the lack of paperwork. Many new cars now have "paperless" service records (e.g. my 3-year old Merc does) so there is nothing to go missing (so long as you have it serviced by the dealer network - nice trick!). However, in view of the age of the car I would suggest having an independent PPI done, unless you are really sure of the dealer from whom you are buying.

Best wishes, John
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post #4 of 8 Old 10-02-2014, 08:48 AM
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Everything Ed said. I would not be too concerned about the last 4,000 (If when he sold it to his friend, it was serviced and good repair - it would not require much in that 4,000).
The price is fair - not fantastic - but fair. I've seen comparable cars for more and for slightly less.
Ed has much more experience than me, but I just went through the process of buying a 360/430 and decided on the 430, but I shopped both. That being said, buying from an F-dealer may offer more comfort, I did not buy from an F-dealer and sometimes wonder if I would have been safer to buy from one - but so far it has not been an issue.
The red and tan is a fantastic combination - the used car guys say its the combination to go because they move.
Good luck - and one more piece of advice - what is the worst that could happen. Buy it and start living it. If it doesn't work out - breath in breath out and move on - if it works out - you'll be extremely happy.
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post #5 of 8 Old 10-02-2014, 01:44 PM
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agree with the above. Wondering about who is offering this car FoSV or FofSF. As for Brian you might give him a call. He is on this site but, and this is entirely my thoughts, unless the dealer lets another inspect and Brian is able/willing, then you may have to shop for someone else or walk away.

I've not owned a 360 but that is an early model F1 and should be properly vetted. And although finding needed problems to be fixed from someone inspecting the car I somehow feel the dealer will not budge on the price. IF true, then I would keep shopping.

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post #6 of 8 Old 10-02-2014, 06:14 PM Thread Starter
 
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Thank you all for your feedback. I have contacted Brian but unfortunately he can't make it. But that being said I have asked my mechanic who works on Porsches and Lambo to go check out the car with me this Sat. What is the worst that could happened, maybe i will have to do the 30k service sooner than i would like, I hope. The reputation of a Ferrari dealership has to be worth something in my opinion. Again i could be very wrong.

The car is for sale by FofSF but it was already spoken for when I saw it at the service center. It never hit the sales floor. Somehow they have another silver 00 F360 with 27k miles that just got traded in and my sales rep call me to view the car. Lucky for me the buyer on the red F360 got wind and actually prefer the understated Silver so we swap. So i guess it meant to be my first F-Car. It is a color combo that I like, a classic Ferrari, and best of all it is a 6-speed manual.

The way it works with FofSF is that I have to complete all purchase paper work but I don't have to pay for the car yet. After they finish preparing the car for showing, I can back out at that time if it did not meet my expectation.

I can't wait to see the car in person again. The waiting part is killing me. Will post pics soon.
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post #7 of 8 Old 10-04-2014, 10:37 AM
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post #8 of 8 Old 10-08-2014, 12:14 PM
 
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I'm not sure what you mean by the services "showed in the system". If you mean it showed up in FoSF then they have no way of determining if the work was done at any other dealership as Ferrari do not have a national database of work carried out prior to 2009 (I think) when they got on board with all the other manufacturers.
The only way to determine what services were carried out is to call or visit the dealerships that did the work and they can print out the service documents. I would call Ferrari of Nevada and give them the VIN number. If FOSF did the work then they should be able to give you the documents and not just state "the service was carried out". I obtained all the service documents from two different dealers for my vehicle. Are the various sheets in the service book stamped?
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