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Discussion Starter · #1 · (Edited)
Hello everyone,

I recently came across a salvaged tittle 2001 Ferrari 360 Spider with an F1 transmission asking 65k. I'm unsure if this is a good deal, so I'm looking for more information on what to look out for and what these cars typically go for.

It's a Florida car that has sat outdoors under a cover for a couple of years in a beach town with constant sea air. At a glance, the car looks fine cosmetically, but I'm not sure what the undercarriage is like considering where the car has sat.

I haven't driven the car yet, but I'm being told it drives well and has no issues. He claims the car was serviced by a mechanic shop with its belts and clutch replaced but has no invoice to show.

Let me know what you guys think

Thank you,
Lex
 

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I would not touch it with a 10ft pole. The most expensive Ferrari you will buy is a cheap Ferrari. A salavaged title will make it hard to resell. Heck, you may spend $20,000 or more just to get the car all sorted out and then you are close to a good car yet it is still salvaged. I would recommend paying $30,000 more and getting a non-salvaged car that you can enjoy vs it spending months at a shop. You have been warned!:)
 

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Ditto:

Florida & salvage!! Run don't walk
 

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Why does it have a salvage title? Flood, accident, stolen recovery? If it is a flood car, pass. If you are a talented DIY guy that likes a potential project, offer $30-35K. If you are not mechanically inclined and would have to take it to a shop for service all the time, I agree with the other posters above. But a better car to start with.
 

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I wouldn't even consider this car and I buy plenty of projects. This is at best a $40k if in great condition and the salvage title will hurt it's value forever. Keep on looking and find a clean title car. You will get all that extra money back at resale and you will find it much easier to sell again, plus you will have the piece of mind that your car was built in Maranello and not by some random dude who flipped it from Copart.
 

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Hello everyone,

I recently came across a salvaged tittle 2001 Ferrari 360 Spider with an F1 transmission asking 65k. I'm unsure if this is a good deal, so I'm looking for more information on what to look out for and what these cars typically go for.

It's a Florida car that has sat outdoors under a cover for a couple of years in a beach town with constant sea air. At a glance, the car looks fine cosmetically, but I'm not sure what the undercarriage is like considering where the car has sat.

I haven't driven the car yet, but I'm being told it drives well and has no issues. He claims the car was serviced by a mechanic shop with its belts and clutch replaced but has no invoice to show.

Let me know what you guys think

Thank you,
Lex
From what I'm reading this is your first Ferrari. I'll be blunt, your not qualified to look this car "over" to determine whether you are getting screwed, or you are getting a good deal.
I like you bought a 2001 Modena. Did not have a clue about the car, except it looked nice. I bought the car without having it inspected, then had it inspected. $28K later I had a good running car. Have the car inspected first, by a good shop, that has experienced mechanics with many years under their belt working on Ferrari's. My car like yours only had one record from the previous owner, and that was for a clutch change out. Take a look at the records for this car. No records, is a sign that the owner did not have the money to maintain the car.. Good chance if you buy the car you are going to have to pay for the owners lack of maintenance. Ask yourself, once you have bought the car, how big of a financial hit can you take to get the car into good condition? IF the car was serviced at a shop, and the owner has no record of the service, find out which shop and go ask them about the car. Also check out the shop, you may need their help to fix a problem. Try to find out what caused this car to be classified as SALVAGED. That word would scare me away from this car.

Good luck. Let me know how it goes.
 
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