Opinions please.

A bad title will significantly limit short term(5year) investment potential. If you look at newer cars that are considered investments the ones that fetch real money are pristine as new no stories low mileage examples. Or cars restored to the nth degree, I would think a bad title will hold it back. Even 250GTOs vary in price greatly on history.

Now if you are thinking a 30 year time horizon, then they will all be worth more. Currently though most ferrari prices are deflating somewhat. Testarossas while iconic are not that rare and there are plenty for sale. Prices like all ferraris have risen through mid 15, but one could also say that testrossas have risen to where they should have been, this does not mean they have more to go in the next few years.

Put it this way, if a nice testarossa today is a 110-125K car now, and the market is getting a little softer, what can you buy this car for, what would you have to put into it, and what do you think it will be worth, bearing in mind it will be worth less.

You say if the car drives well and its good it shouldnt affect price, but then you talk about investment. Investement cars have how they drive near the bottom of a long list that includes how origional they are books tools orig paint who farted in the seats etc etc.

A car that looks and drives great is a great car to buy to drive. My suggestion would be to buy a ferrari to drive, and somewhere in a 5- 20 year time horizon it will be worth a lot more, hopefully more than you bought it for and put into it keeping it up.

Best to buy a non running ropey car with no title issues, and then restore it, assuming its sweat equity you may come out..

 

YEah bad title = very bad from an investment point of view. If you're getting it to be a driver, then cool. But no one's gonna want one with a bad title for significant $$$.

 

Also ask if they have 'before' pictures (before it was repaired). If the damage was truly to the front end as he mentions in his ad, and the damage isn't that bad, you'll need those pictures to show the next buyer. Then you might not take as big of a hit on price.

 

If you buy it cheap because of 'issues', you will wind up selling it cheap as well.

It will take longer to sell since there are fewer folks out there that want a cheap car with 'issues'.

A car with 'issues' is more likely to have problems that were not fully disclosed or otherwise detected. They present a buyer with highr risk.

Personally, I'd pass. But with high due diligence and a realiatic price, it may be worthwhile.

Rgds,
Vincenzo

 

a high tide will lift all boats but this one will forever have a hole in it.....

The thing to do is ask yourself is this the RIGHT time to buy a car that has recently risen in value 50-75%? Most smart guys say no....they're saying wait until the next downturn, where you could get a portion of this money back

 

Speaking from experience it really depends what the objective is. I think the key is figuring out how much she will cost you to sort plus your purchase price. If you can get to the break even point and even make a few dollars plus or minus it could be a good scenario. There has become a fine line with TR ownership thru the years. Totally original pristine examples with no title issues etc will command top dollar and rightfully so. But.. its a catch 22. You really cant (fully) drive and enjoy her because as most of us TR owners know they require sorting and if you sort her she will no longer be original and pristine. Yes some sorting upgrades do add value but I think they add value to the buyer that is looking for a pristine example and can also drive her and risk taking a slight hit for mileage and sorting down the road. Those owners have passion.. My kind of owner..

You have a opportunity to get in cheap, yes.. Maybe or maybe not. If it is just body and no mechanical issues then it may not be a bad buy for the right price. Keep in mind that she will still need sorting and servicing. Clutch is expensive but if driven correctly could last a really long time (another discussion as I've been baffled how TR owner's drive their cars and totally over think the clutch). If the car has been sitting for a long time then brakes, bearings and bushings could come into play. I am a big fan of the gold kit for the engine bay harness.. I think its a must. Hella headlamp upgrade so you can see at night. Ignition wires because those factory ignition wires are good for sh*t. So much more too, I'm sure I'm missing so you see there is a lot of work to be done. After the initial blow of finding out my cars history I became very comfortable and found it quiet comforting having a car with a tarnished title. I could sort her to the end of the earth and make her reliable without worrying about hurting the value. If anything it would help her value because of her reliability. You cant do it half ass. The only thing your gonna hang your hat on at the end of the journey is how reliable she was and how you fully enjoyed the experience. I drove my car.. Fully indulged in her offerings with no penalty for an overdose. She gave herself to me everyday, day in and day out. Never concerned where I parked her. Never concerned how far the trip was.. Never concerned how many miles I was racking up.. It was me and the car.

After all is said and done you don't want to spend more then what you think you can fetch when your done to at least break even. It's totally possible to do.. I stole my TR.. Put some money into her to get her up to snuff.. and I mean up to snuff.. I'm still convinced she is one of the most reliable TR's out there.. She is still running strong and most importantly reliable. She was a great car and I think that her history and damage allowed us both to drop our gaurds and embrace each other. Acceptance. Do it for the right reason.. Buy to fix, drive a bit, then sell to make a killing - no way, very dicy situation and probably wont pan out. Buy to: fix, learn, drive, experience the passion of Ferrari, commitment, indulgence etc.. No your talking my language.. You have to put a value on driving and enjoyment. Not *****footing around talking about how may coats of wax you have on her and that you have the complete luggage set. Wearing out the seat bolster because you sit in her every other day making believe your driving her. Yes its sad, and its more common then you think. What you sell the car for becomes irrelevant. You just want to pass her down to the right person.. Passing the torch..

Its a fine line.. You gotta pick which way your gonna go.. Me.. If I had to do it all over again.. I would go the same direction.. The experience was so good that still to this day I crave it. Not just any TR either.. I crave my old TR.. The b*tch wrapped her fingers and fat ass around me bro. Oh man, What I would do to drive that b*tch again. She'll get it real good.. Real good. She's a drug.. a really good one.. Are you going to take her or are you going to put her into the medicine cabinet and wait for her to expire, then go back to the drug store for a refill, then back into the medicine cabinet.

Good luck either way. The forum is always here to help.. TR section is a family.. sometimes a disfunctional one but that is what makes it exciting. Lions, tigers, and bears oh my! Passionate owners are a dying breed.. Its a shame... a real shame..

R

 

Cars are not investments. They are liabilities. And what good is a liability if you don't intend to use it? If you are looking to have some fun and are passionate about a vehicle to drive, this may work, but the hole in the car does scare me.

If you're looking for financial gain, you are going to be disappointed. And that goes for a clean perfect car too.

She is nearing... she is close-by