| Author |
Message |
Craig Dewey (Craigfl)
Member
Username: Craigfl
Post Number: 497
Registered: 1-2001
| | Posted on Thursday, December 05, 2002 - 3:31 pm: | |
Frank,
I agree with Matt and essentially bought my car that way -- sight unseen. I used www.escrow.com to protect myself and as a third party to hold and disburse money as I approved each step. I was fortunate in that the person I was dealing with was reputible and agreed to these terms. The only thing that I didn't test the seller with was making him pay for the return of the car if it wasn't what I expected. At the time I felt good about the PPI and had a good relationship with the person at the repair shop-- so I didn't expect any surprises. 10K miles later and NO problems... |
bruce wellington (Bws88tr)
Intermediate Member
Username: Bws88tr
Post Number: 1232
Registered: 4-2002
| | Posted on Thursday, December 05, 2002 - 3:27 pm: | |
o, frank btw,
when a compression test is done, make sure the are open all the way and the car is warmed up efficient..never do this test when it is cold..
bruce |
Frank Jaloma (Carmel348ts)
New member
Username: Carmel348ts
Post Number: 5
Registered: 10-2002
| | Posted on Thursday, December 05, 2002 - 1:22 pm: | |
Interesting thought Matt, thanks for the input.
If I sick a broker on the project and let him do some hunting for me, it would be possible that the state where the potential car is located would have a authorized dealer. In which case, my travel distance to ship the car and the overall inconvience to the seller would be minimized.
Stay tuned for a seperate post regarding Brokers.
Frank |
Matt Karson (Squidracing)
Member
Username: Squidracing
Post Number: 283
Registered: 3-2001
| | Posted on Thursday, December 05, 2002 - 12:00 pm: | |
Tom, you raise two valid points. My thoughts are as follow: The reason I suggest an authorized dealer, is that it creates an atmosphere of professionalism. Not that some independents can't do it as well, I'm sure they can. But by going to an authorized dealer, it should provide a certain peace of mind to both parties involved. As far as an owner knowing about their leakdown: There may or may not be any malicious intent on the part of the seller, but I think it is the sellers responsibility to pay if this information should come to light. I do not think the potential buyer should have to pass on the car, and pay for this information. The seller can then represent the car as they know it actually is. If they misrepresent the car, and know that they will have to pay for the PPI after the leakdown shows up poorly, it will only cost them more money. My way can remove this type of misrepresentation.
|
TomD (Tifosi)
Intermediate Member
Username: Tifosi
Post Number: 1952
Registered: 9-2001
| | Posted on Thursday, December 05, 2002 - 11:13 am: | |
matt
I think your approach is acceptable. I think you might be putting to much emphasis on having it done at an authorized dealer but you are entitled to that. I guess my only concern is how can an owner know if his leakdown is a little off? |
Matt Karson (Squidracing)
Member
Username: Squidracing
Post Number: 282
Registered: 3-2001
| | Posted on Thursday, December 05, 2002 - 10:54 am: | |
Frank...here is a thought. It is easy for a seller to misrepresent their car. Since there are no authorized Ferrari dealers around you, why don't you try the following? Negotiate with the seller and settle on a price. Make this price contingent upon the car passing a PPI at the nearest authorized dealer. Of course (and I can hear fellow FC members screaming already) you will have to set parameters of what is an acceptable variance from 'as represented', but if the car is as represented, you pay for the PPI and transportation. If it is not, the seller is responsible for all costs incurred. This will ensure that the car is as the seller represents it to be. If the car is not what the seller claims, the seller will NEVER go for the idea.
The seller should have NO qualms about this arrangment if he is telling the truth. The key is being reasonable. An insignificant cosmetic imperfection (no, not a door ding or any bent anything) must be allowable. Just a thought....OK, my fellow FerrariChatters, let the pouncing upon begin!! |
Frank Jaloma (Carmel348ts)
New member
Username: Carmel348ts
Post Number: 4
Registered: 10-2002
| | Posted on Thursday, December 05, 2002 - 10:02 am: | |
Thanks guys. You're all a great wealth of information for those of us just starting the process for the first time.
I've contacted a couple Fchat guys via email to aske specific questions and was also well recieved.
Compression, leakdown tests, towing (didn't think of that one) all make sense. A gearbox check I was particularly keen on so I'm glad to here that is tested. I'm not accustomed with how thorough these PPI tests are.
There are no Ferrari dealers here in Indiana, but can I get some recomendations on surrounding states? Illinois, Missouri, Ohio, Michigan etc.
I'll be back with more questions later.
Frank |
djmonk (Davem)
Junior Member
Username: Davem
Post Number: 144
Registered: 1-2002
| | Posted on Thursday, December 05, 2002 - 9:17 am: | |
Frank. You can call Brian Stewart at Autocar Sports, 317-271-9955. Brian is based right in Indy i believe. Brian is a fellow poster here on FC an he did a PPI for me 2 weeks ago in Cinci i was very happy with. |
Matt Karson (Squidracing)
Member
Username: Squidracing
Post Number: 281
Registered: 3-2001
| | Posted on Thursday, December 05, 2002 - 8:58 am: | |
Frank, Bruce mentions an EXTREMELY important point. If anything is done during a PPI, make sure it is a compression AND a leakdown test. EQUALLY as important, is that they take the car for a road test, in order to ascertain the status of the gearbox. Again, a source of major bucks if there is a problem.
I hold some indepedent Ferrari mechanics in high esteem, but you would be better served to have the PPI done by an authorized dealer. This way, there is little chance of conflicts of interests to enter the equation, from both of your perspectives.
The 348 is a great car, enjoy. |
bruce wellington (Bws88tr)
Intermediate Member
Username: Bws88tr
Post Number: 1231
Registered: 4-2002
| | Posted on Thursday, December 05, 2002 - 8:01 am: | |
frank
the most important issue is the leak down-compression as tom states..these are tests for your engine ..if poor scores are shown from these tests, say good bye to the car or plan to spend alot of $$$$$
bruce |
Leonardo Soccolich (Lens)
Junior Member
Username: Lens
Post Number: 220
Registered: 3-2001
| | Posted on Thursday, December 05, 2002 - 7:13 am: | |
I had to pay to have my future car flatbedded to and from Ferrari of Long Island for the PPI. Check with the current owner of any car you are looking at to see if he will drive the car to your mechanic, otherwise figure about $300 in towing charges.
Spend time with the mechanic to go over ALL interior switches/controls to make sure everything is working. If anything doesn't work, get a written estimate for parts/labor so that you can go back to the seller with a bargaining tool.
Also, check out the 348 Buyer's Guide in Forza magazine. |
TomD (Tifosi)
Intermediate Member
Username: Tifosi
Post Number: 1947
Registered: 9-2001
| | Posted on Thursday, December 05, 2002 - 6:58 am: | |
yes pre purchase inspection
2) should cover overall review of the car for leaks, frame damage, orginality, operation of all bells and whistles - in addition many get a compression and leakdown test. Includes a road test also
3)anywhere from 2 to 5 hours
4) some will give verbal report other get written in either cases there are normally no warranties
5) normally buyer pays (avoids conflicts of interest) and cost is anywhere from 200-600 bucks
6) normally done by someone independant from seller |
Frank Jaloma (Carmel348ts)
New member
Username: Carmel348ts
Post Number: 3
Registered: 10-2002
| | Posted on Thursday, December 05, 2002 - 6:32 am: | |
Greetings from Indy!
I'm new to the site and have been reading and learning.
I'm just starting my research for my first Ferrari. I started looking at 328's and have reconsidered and am now interested in the 348 series. Likely a TS. I hear a lot about a PPI.
I assume that's, Pre Purchase Inspection correct? I have the following questions regarding the PPI:
1. Exactly what does it stand for?
2. What should it include or cover in the inspection?
3. How long should it take?
4. How are the results reported?
5. How much and who should pay? Buyer? or Seller?
That's enough to get me started. From what I've read so far, you guys are very knowledgeable and I'm impressed with your resolve to share information. I'm very thankful for that. Regards.. Frank |