what to pay2l 2007 612 w $50k repair

Personally i would never buy a car that did not have a clean Carfax and I know there are a number of others out there that feel the same way. So this might just be a great "disposable" car if you could get it at the right price where you could drive it until it drops AND you had it checked out and it was in perfect condition (a poorly repaired Ferrari could eat you alive).

However, I see a couple of red flags in your post. 25,000 miles is not considered low mileage and would cause a price drop even on a "clean" Ferrari. Also, you say it has 25,000 miles and the 25,000 servicing was done 30 months ago. What happened since? Sitting is not good. Also even if it is sitting you should have it annually serviced. So if it wasn't that's another red flag. I previously looked at a 612 that had 10,000 miles on it but it had essentially sat for 3 years. The dealer told me that it was going to cost $16,000 to get it in order (and that was with no real problems). So i passed on that one.

 

A non HGTC with a clean carfax and that kind of mileage would fetch $80 to $90 K assuming everything checked out. Maybe you think about that as the right price. Essentially the additional value of the HGTC being offset by the accident value decrease. If you plan to keep it and drive it, maybe that gets you close enough and you don't worry about it if it drives great.

On Autotrader right now there is an 07 HGTC with slightly better mileage listed for $119K. Of course the buy price is likely somewhat less (people often say 10 percent).

My gut tells me that there should be at least a $30 K price reduction for the accident. I have seen 612s with a dirty carfax listed in the past having that kind of reduction though of course I have no idea what they actually sold for.

So all different ways to get to maybe around $80K assuming it is presently in good condition and fully serviced.

 

How do you know it was not in a collision? What is the asking price?

 

Carlo, that sounds like a reasonable plan and likely in the ballpark of value.

However, I am surprised he didnt disclose the accident in the ad. The car is certainly not worth $119K with an accident.

Your rationale of comparing to new luxury cars is similar to mine. When i bought my 612 i looked around at the new luxury cars that i could buy for a similar price, realized that the 612 was a more unique and fun car and realized that all of those new luxury cars would take some pretty big depreciation hits. So i was content with getting the 612 and i was not overly concerned with resale value because i planned on keeping it for a long time. My other daily driver is presently 12 years old and i have owned it for 10 so i have a history of that.

If you get it for $75 k i think you can drive it for a long time and enjoy it. If you bought a new BMW for that price now, 3 years from now it would only be worth maybe $30 K and you would have had a lot less fun. I would also say that i was comparing mine to new luxury cars in the low 100s, not 75K cars and i still think that is a valid comparison and so, so much the better for you!

The key is to make sure it is a good car so the repairs dont eat you alive.

Good luck!

Ron

 

Ask for photos of the damage. I'd never buy a hit car that didn't have photos of what happened. Make your decision from there. Ferrari parts can add up fast so $50k could've been superficial best case scenario.

 

When was the collision? Does the car have a several year history of routine usage and service following the accident by the same owner? I owned a Ferrari that had such a history, took a good front offset impact year 1 into it's life and then half a dozen years of normal usage thereafter by the original owner. If the car didn't change titles right after repairs, and if it didn't keep going back to the shop, I wouldn't be that concerned. Worked out fine for me. I had no issues buying, driving or selling said Ferrari, won car shows with that one like shooting fish in a barrel.

 

Hey, I see the car you were interested in was just listed on e bay for $98K. So he is dropping the price. Interesting that he is disclosing certain "issues" with the car but not the $50K accident!

 

Carlo,

RUN away! Two major things to consider here. Resell interest and value along with insurance. Once a car like that has been damaged - Insurance could likely pay ACV vs. replacement. Doubt that would happen - but stranger things have occurred.