Cali Hunt, found this...

Seems pretty reasonable to me. The main questions you should be asking yourself though are how long do you plan to keep it and how much do you plan to drive it? If you plan to keep it a while and drive it a lot, this is your car. If you'll only put 5k/year or less on it and only want to keep it a few years, you're probably better off looking for a lower mileage car and paying a bit more up front so you don't lose more when you sell it. Just my opinions, but if you offer up a bit more info on your plans for the car, some of the more experienced guys can probably give you a better answer.

 

Zac pretty much nailed it. If your plan is to buy and hold, miles are fine IMO. Original owner, hopefully, broke it in for you, all bugs are sorted, etc. Drive it like you stole it. If this is likely to be a short term purchase, then the sad truth is, many F-car owners are mileage averse.

Good luck and post more info.

T

 

Miles are up there ... which is fine, it's reflected in the price, but if you plan to drive it a lot, when it's time to let it go the miles will really be up there, which may make it a little more difficult to sell. You also cannot put a Ferrari warranty on a car with more than, I think, 52k miles on it.

The price seems reasonable, be nice to know what options it has and what the original sticker price was. LED wheel is nice to have. Does the car have Magneride? Are the seats heated (important for a convertible depending on where you live)?

My 2013 car has around 14k miles, plus the full factory warranty until 6-28-18 and some other nice things (full wrap, new Michelins, etc.). I've considered selling but not sure what it's really worth retail at this point.

 

Those are good options and if it's a one owner car that is better. I have been shopping the Cali for over a year and realized I needed to get the T because there are a lot of tech advantages not in the NA version. However, the extra money is significant to get the T so I would say if money is an issue and you want the F-car, this is probably the sweet spot but the miles are high for a six figure price. I wouldn't take it for that. It's a five year old car even if it's a F car. You will not get six figures in six months I wouldn't think.

 

It doesn't have it and it would be listed on the build sheet. This is what it looks like. I don't think they put it in the Cali 30s. It is one of those tech things that made me buy the newer T, along with ventilated seats. It makes a huge difference in the ride on bumpy roads when the switch on the right is set to sport which is where I drive. It was a 458 standard feature.
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Yes, I bought the 2-year factory warranty extension last June before the original warranty expired.

Magneride (shocks that adjust their firmness using magnetic fluid) doesn't have anything to do with what's on the steering wheel on the 2009-2014 California. On the original California and the California 30 (if equipped) it's controlled by the "comfort" or "sport" settings on the mannetino. On the T they separated it out so you can firm up the shocks independently of the sport or comfort settings. It was a $5375 option on my car's sticker -- "Magneride dual mode suspension." If the car does not have Magneride, the other differences between sport and comfort still come into play -- exhaust valves, shift points, etc.

 

IMHO, if your plan is a short term hold, I would not get such a high mileage Cali, as it'll be hard to sell on. Also, 6 months from now in most places is the onset of fall/winter, at which time exotic car sales seem to slow down. Seems odd that with such a highly optioned car, they did not check the Magneride box. Best of luck whatever you decide!
T

 

Since I didn't read anything about the "Service Contract" you mentioned in the Auto Trader ad, I would be concerned about having someone near you who would honor the contract. Suggest you add this issue to your due diligence list. Good luck.

 

Age and mileage are the two main depreciation factors when you resell so when searching for a Cali look for the best combination you can get of these two factors.

 

Yes and anyone can get burned badly buying private market, especially with a high end car like this and as many miles as it has. You should make sure the owner has all service records at the very least. You should also talk to the dealer the original owner bought it from to find out how it was treated. You should also have a mechanic inspect the car closely.

Ferrari put my car up on the rack yesterday and took off the wheels and all the underbody covers in order to take a really close look at the car. You should have a mechanic do the same for you. Finding value is very tricky and if there is any Carfax on the car, you are screwed as far as dealerships go. Now private market, maybe someone will take a chance, but you should get the Carfax. Dealers will make good deals and the sticker price is a starting point. With Ferrari, not so much but if you buy used from Ferrari, I would follow Ferrari of Houston for the best deals.

Keep in mind, private market buyers mostly buy cash and if they are financing, they have to prove the car is worth what is being asked. I think you will take at least a $15,000 bath if you buy it and sell it in 6 months. The next guy is going to be looking at getting a good deal for his cash too.

The cost of ownership for a high end car is 5 figures per year minimum.

 

I've done that from time to time over the years with Porsches ... the difficulty with the Ferrari is you can encounter an expensive repair if the car is not warranted. The Californias seem to be largely trouble free but even a minor issue with a Ferrari is four figures -- I had a faulty top sensor that took a few trips to the dealer to finally solve and I was glad not to be paying the labor charges -- and there are a few things with the car that can top five figures, which is why some people (myself included) opt for the warranty. A rogue random repair like the electronic screen on the dashboard going out, or even a headlight going bad, will certainly get your attention when you look at the price of the part on Ricambi, never mind the labor to put it in.

But if you don't rack up a ton of miles, choose a solid car and you sell it at the right time of year, it's certainly possible. You definitely want to do a prepurchase inspection and look closely at the service history.

 

Yes. Since you have not indicated where you live, my point is to be sure you are reasonably close to an authorized dealer to avail yourself of the maintenance service.

 

As a general rule, this won't happen with a California (or, even a 458) unless you get a real "steal" of a deal....which for a Cali with nearly 30,000 miles might mean you need to buy at 80K. There are too many on the market....and this car seems to be well spec'd, which makes it attractive, but remember most of these options don't recover well on resale

As for this car, the first thing I'd do is have it fully PPI'd. Use (28K miles) is fine, abuse (eg. does the front end or rockers need a respray? wheels curb'd? underbody panels cracked? seat bolster starting to show wear? etc. Plus, I'd think about normal consumables....tires and brake pads might run near $4K.

On the price, see what you can do. There are "good value" Calis out there for sure. However, and apologize for sounding negative, but the best case scenario for you if you want to "flip" is about minimizing loss....the market depreciation curve is going to move on regardless.

 

If you want to flip it that quickly, pick one that has more or less reached the bottom of its depreciation curve ... the California is not there yet, nor is the 458. I would look at something like an F1 F430 spider with lower miles, as long as nothing breaks you are not apt to lose much. That 360 sounds like a nice car but not sure you would like it as much as you might like the 430 -- that is what I had before I got my California.

I did not keep it long because I missed the open air thing -- came from a long line of 911 convertibles. Bought a Berlinetta and should have bought a Spider. Hard to beat a Ferrari on the back roads with the top down. California is a perfect fit for me.

But lots of nice Ferraris around that seem to be somewhat stable in value on a yearly basis -- the 599 and 550 are both really nice cars.

You can buy the New Power warranty on any Ferrari (within age and mileage constraints) for the (8 cylinder) price you mentioned provided it passes the inspection -- and, on the later cars, has its dealer maintenance up to date. The warranty is a good one but it does not cover as much as the original factory warranty although it is about the same price, that's why I extended mine for the full 2 years.

At the end of the day, none of these cars make any sense at all from a financial perspective. Might as well get out and put some miles on 'em as they are hemorrhaging money anyway : )

 

sorry if you are getting scared....

the reality is

1) new model rear engine V8's (Eg. 430, 458, 488) hold their value pretty well through the first 18 months, then start down the depreciation curve....they depreciate LESS than a lot of other cars, but "buying at X, and then selling at X" is more a concept than reality, unless you're getting into a new car and out of it during the first year or so

2) some V12's (eg. F12) will do similar, for shorter, but the 2+2 (612, FF) and Cali never had that profile. Again, better than a Maserati or Aston....but not there

3) the Speciale, SA, TDF, et al all violate that rule as LE's are on a different curve

Of course, if you can find a bargain at a low price, that's great, but that's always a hedge/bet, never a certainty

AS FOR THE CALI.....they are great cars. We've never owned one, as it never worked for us (we've had everything else), but they are fun drivers.

An absolute certainty, if that's what you're looking for, is to find a good example, drive the hell out of it, enjoy it. If you worry about depreciation, you'll have no fun and still be left hanging. We're on our 2nd FF and we offset the depreciation curve with enjoying the hell out of it. Some people brag about resale value, we brag about miles and smiles.

That car you're looking at might be a bargain, with the miles it will get overlooked a lot, and it seems to be a good example....30K or 40K miles, as long as it's mechanically sound, you should enjoy it.

Just my $0.02

 

So u must have bought it congrats. I think u got a great deal