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Message |
russell rosenblum (Rosenblumr)
New member
Username: Rosenblumr
Post Number: 26
Registered: 6-2002
| | Posted on Tuesday, July 09, 2002 - 1:54 pm: | |
I just bought a 360 so I cant speak specifically to either the 550 or the 456 but . . .
I think the 550 will have a better resale. The 456 is about the only ferrari that you can get new from a dealer with no wait list. Supply far outweighs demand.
As to which 550, the year is probably less important than the miles. I know the major service on a 360 is 30K miles. I looked at one car with 15K miles. I passedon it because if I put 5K miles per year, in 3 years I will need a 10K service. Since I plan on selling the car in 3 years (when my spyder arrives), either I would have to service it and then sell it, or probably deduct it from the sale price to a knowledgable consumer--so my savings are gone.
Instead I bought a car with 1100 miles for 5K more. In three years I will have 16K miles and no need to worry about a 30K major service.
The price based on year is almost always transparent, the price based on milage is not.
My opinion, IF ALL ELSE IS EQUAL. Take the 550 with the fewest miles you can reaonably afford. |
Jeffrey Robbins (Teachdna)
Junior Member
Username: Teachdna
Post Number: 52
Registered: 9-2001
| | Posted on Monday, July 08, 2002 - 6:20 am: | |
Charles; that's a lot of miles for a 550-although, if we set aside the Garage Queen complex so many Ferrari's have, it's obviously not that many. Be that as it may, I think you would have an extremely tough time turning that car over in the future if, 3 years from now, you wanted to get rid of it.
I would stay away from it-there are A LOT of very clean, lower mileage 550's out there-have you looked in AutoWeek yet and followed up on any of those cars? I glanced through this week and you came to mind-there are a number of good looking 550's there!
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Charles rich (Ccr2002)
New member
Username: Ccr2002
Post Number: 4
Registered: 7-2002
| | Posted on Sunday, July 07, 2002 - 11:57 pm: | |
Henryk,
Actually, i don't need the extra seats since i have other cars that do...G500 and 996tt, but it's nice to have the option sometimes. Also, i love the 456 look..ever since i saw one in monterey california. They are also a great buy right now. Then i took a test drive in a 550 and my paradigm of a sports car shifted. It was the most exhilerating ride i've ever had..not necessarily the fastest. I'm leaning toward the 550, and now am just struggling with whether to get one with more miles or a newer one, i'd really love a 2001 just to have the last model year before the 575. I hope it doesn't take 6 mos to find the right car. Any thoughts on a 98 with 23k miles? Too many miles? Do any of you have a lot of miles(>25k) on your maranellos? Thanks again for the help.
ccr |
Henryk (Henryk)
Junior Member
Username: Henryk
Post Number: 52
Registered: 8-2001
| | Posted on Sunday, July 07, 2002 - 10:19 pm: | |
Charles,
The choice is simple......either you need a back seat (456), or, you don't (550). Why are you having such a hard time?.....unless you don't know what you want.
It will be interesting to see if you get either one, within 6 months!!!!!! |
Charles rich (Ccr2002)
New member
Username: Ccr2002
Post Number: 3
Registered: 7-2002
| | Posted on Friday, July 05, 2002 - 5:21 pm: | |
Thanks for all the advice. I am going to look around for a little while. The guys at Steve Harris in SLC Utah have been great and the test drive in the maranello has started a great obsession i believe. I have just been offered a 98 slv/blk 550 with 23k miles...supposedly very well maintained by a "good customer" of Los Gatos ferrari in Ca. Anyone know the dealership there...anyone live nearby and want to check the car out for me. any independent ferrari shops around there that could do an inspection. I'm really torn b/w getting a car with more miles for less money and then driving it with less worry or getting a 2000 or 2001 knowing that it is nearly new and will hold value over the years better. $27k savings over the local car is a lot of money to me...but on the other hand i'd pay close to 170K for a perfect 2000 or 2001. Thanks again for the help.
ccr |
ross koller (Ross)
Junior Member
Username: Ross
Post Number: 164
Registered: 3-2002
| | Posted on Friday, July 05, 2002 - 5:25 am: | |
personally i would go for the older car (provided it was in good condition etc). there is virtually no difference between the '98 and '00 except for price, so why pay more? as for prices in general, i think they will come off more this year than last, so patience is a virtue. if you have to have it today, then am sure you can get another 5% off the price he quoted you.
regarding the 456, i think its great and am looking to buy one right now, but price wise it is likely to be taking a nosedive as soon as the replacement comes along (in the next 18mths), so you can play on this fact with the dealer. and there again i would buy the 98 over the younger ones.
regarding the 550 vs 456, it all depends on the 4 seat requirement; you either need them or you don't. and given that you live in a relatively highly populated area in the usa, unless you plan to track the car, you will hardly ever notice a performance difference. there is a slightly lower 'attention getting' factor for the 456 if that is an issue for you - the 550 will attract a little more attention, some unwanted, whereas the 456 will blend in with traffic. |
89TCab (Jmg)
Junior Member
Username: Jmg
Post Number: 228
Registered: 9-2001
| | Posted on Friday, July 05, 2002 - 1:56 am: | |
In the 8 cylinder world, I have found the Mondial T to be a great daily alternative to the 348. Between my kids, trips to dinner with friends etc, having the extra seats gives me more days of driving the Ferrari vs somethign else in the garage.
- JMG |
Nick Starai (True)
New member
Username: True
Post Number: 11
Registered: 6-2002
| | Posted on Thursday, July 04, 2002 - 11:22 pm: | |
Charles, I can't give any advice regarding which model is better for you...however, I do know that FoxValley Motorcars (chicago area) has an absolutely beautiful yellow 1999 550 Maranello with 7849 miles @ $159,995.
I've seen the car in person...truly amazing.
Check it out...I am not affiliated with them in any way..nor do I have any financial interest...blah blah, just trying help you find a car....talk to Michael if you are interested..he was nice enough to invite me to their open house!
http://www.foxvalleymotorcars.com/search/details.asp?id=DCIL5217.1/4337&storenumber=DCIL5217.1
Good luck. |
wm hart (Whart)
Member
Username: Whart
Post Number: 388
Registered: 12-2001
| | Posted on Thursday, July 04, 2002 - 9:55 pm: | |
you've gotten some really good advice here, so i won't repeat any of it, but: even with service history, and relatively low miles, one car may be better than another; its not just a question of saving a few bucks, but if you have to live with the car, and put money into it, you will regret not having invested the energy now, to find the best car. As with all "used" cars, these things will look good on the showroom floor; you really need to have someone with experience on 550's to get in, and under the car. There were a number of recall items on the 550; it should have a major service and a fresh set of tires; what do the rims look like on a balance machine? 550 prices have plummeted, but there is no reason to buy a lesser car, just to save a few more bucks. it will quickly cost you more, at FNA parts prices.
The best thing about an authorized dealer is that their franchise is on the line if they •••• you; you can put some pressure on them. It is also good to deal with somebody as close to home as possible, even if you use them to suss out cars at other dealers. Look at the FNA website, and use the search function; i'll bet there are a ton of used 550's at a range of prices, all of which should be subject to negotiation. |
Jeffrey Robbins (Teachdna)
New member
Username: Teachdna
Post Number: 50
Registered: 9-2001
| | Posted on Thursday, July 04, 2002 - 9:37 pm: | |
Charles:
You need to slow down just a bit and take careful stock of your situation and what will suit your needs best. Under NO circumstances should you purchase a car without having it checked out by a dealer of your choosing. If one is not close, then the seller should be willing to have the car flatbedded up at your expense of course to a dealer. There should be a dealer somewhere fairly near the car whose service department you should contact and make the arrangements. I know it's some work but it's effort well-spent: that's the advice I received from people on this board before I purchased my 550 and I'm glad I took it. And yes, I did fly out to see the car, drive it and talk to the service manager: it's only a day or so of your time and well worth it!
All things considered, what with the price of Ferrari North America (FNA) cars these days, I would not fool around with a conversion car or touch it at any price unless it has a completely documented history of who did the car, when and what guarantees it comes with. Even then, I would hesitate and probably not go through with it unless the savings were $30000 or even more as you could easily find yourself out that if something went wrong. For example, just last year (around October), FNA did a recall on the wheels. Your car wouldn't have been covered and a new set of wheels (some micro-cracks were appearing around the lug nut holes) would set you back some $7000-9000, if you could find them. The ones available were restricted to the cars that Ferrari needed to service under covered warrantees or even FNA cars out of warrantee. While I can't vouch for the last sentence that's what my dealer told me so I'm simply conveying that information in good faith.
I would suggest that you sit back a while and get to know the market a little better. How? Autoweek (online), Ebay (to get an idea of what the market is doing-very few people actually close a high-end deal on Ebay), or looking at the Ferrari Market Letter; subscriptions are available online. While those prices are often inflated-and remember, those are ASKING prices, they will give you at least an idea.
The 170K for a 2000 is a reasonable starting point if the car is mint and everything checks out. The price should come down 2000-8000 during negotiations unless it's with a dealer. Remember, it's an ASKING price and there's no harm, if you're really interested in the car, in getting it inspected-it will cost you a couple of hundred-and if the car checks out, to make an offer with cash in hand or financing pre-arranged, at a figure that you're more comfortable with. The guy/gal can at the worst only say no!
Best of luck.
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arthur chambers (Art355)
Member
Username: Art355
Post Number: 502
Registered: 6-2001
| | Posted on Thursday, July 04, 2002 - 7:21 pm: | |
Charles:
The 456, if you shop carefully has lost a HUGE amount of value. If I had to guess, I think the 456 comparable car, year, condition, mileage, etc. will be about 30 - 50k less than the 550. If you can live with the styling, the 456 has almost equal performance, with 2 extra sets for a lot less money. |
Charles rich (Ccr2002)
New member
Username: Ccr2002
Post Number: 2
Registered: 7-2002
| | Posted on Thursday, July 04, 2002 - 7:19 pm: | |
Thanks for the responses so far. Is 170K for a 2000 with 1700 miles a good deal? it seems high to me. what experiences has anyone had with european 550s. A guy named Simo has a couple 2001 with 190 miles on them for $163. They were converted by a company there in California, GTX or something. On the 550 i'm looking at they are going to give me a 1 yr ferrari warranty also. I'm in SLC and there aren't any independent ferrari shops so check the car out. Do you think this is a problem? Do i need someone to fly in to check out cars? if i bought a car elsewhere do i need to do this or are some dealerships and people known to this board to be trustworthy? |
Manu Sachdeva (Manu)
Member
Username: Manu
Post Number: 325
Registered: 2-2002
| | Posted on Thursday, July 04, 2002 - 5:56 pm: | |
My personal favourite will always always be the 550 Maranello but DO NOT underestimate the 456GT.
It CAN sit 4 adults in good comfort and its dynamic capability 4-up is awe inspiring. A friend of mine (and fellow Ferrarichatter) took me and 2 other guys out in his 456 and we were amazed at out awesomely the car handled despite the extra payload it could seat. Its not quite as quick as the 550 but it rides quite a lot better without (appearing to) lose too much to the 2-seater.
If you may have the slightest need for the extra rear seats then don't hestitate to buy one - its a beautiful, fabulous, car.
Obviously if you don't, then get the 550 - they're both brilliant. |
Jeffrey Robbins (Teachdna)
New member
Username: Teachdna
Post Number: 49
Registered: 9-2001
| | Posted on Thursday, July 04, 2002 - 4:13 pm: | |
I've driven both and both are outstanding cars, but the 456 is probably more "practical than the 550 because of the back seats and a better ability (at least on my part) to see where both ends of the car are. The 550 is not a great deal unless the $10,000 stereo system really turns you on. Frankly, I rarely play my radio in the 550, preferring to listen to the engine.
I got my '97 with 3000 miles on it in mint condition for $150,000 about 9 months ago, so I think you could do better. IMO it doesn't make much sense to pay a lot more for a newer car.
The 456's are probably even a better deal than the 550 at this point. They have depreciated spectacularly with 3 year cars losing almost a full half of their value.
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David Albright (Dalbright)
Member
Username: Dalbright
Post Number: 361
Registered: 2-2001
| | Posted on Thursday, July 04, 2002 - 2:06 pm: | |
Not sure of your time table, but I had heard something a while back that the new 456 will have a lot of styling cues from the 550/575. It should be coming out in the next year or so. Maybe get the 550 now and then trade in once the new 456 comes out. Just a thought. |
Charles rich (Ccr2002)
New member
Username: Ccr2002
Post Number: 1
Registered: 7-2002
| | Posted on Thursday, July 04, 2002 - 2:00 pm: | |
i need some advice..new to ferrari and have chance to buy 550 1998 8000 miles for 157,500. it is very clean with a $10K stereo upgrade, the leather on the airbag cover is warped slightly(dealer will recover) and some minor touch up work on the left rear bumper isn't done that great but o/w it is perfect. it drove outstandingly and i am not satisfied with my 996tt now. is this a good deal? what about the advantage of 2000 or 2001 550 for a lot more money? what about the 456? i like the back seats but loved the 550 drive and looks.
any help appreciated. any 550s out there for sale that might be a better buy, even if more expensive? thanks
ccr
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