Hi all my Mondial friends! Because I'm like a crazy dog running to bite his own tail I have another car fever. I'm thinking about buying a 89 T coupe. Yes one of the 43. Knowing myself I will fall in love with the car as all my other Ferraris up to now. But I would like to buy it(for the 1st time) as an investment trying to sell it for a little profit down the road. I haven't seen it yet in person. It has 29,000 miles. Owner for the last 6 years is 60yo. He said he has $27K in maintnance receipt with the car. All books, Tools etc. He told me for him the car look like a 3 years old car. By the pics I know the paint needs a good detailing.(haze) The engine out is due. What should I do? Will this car sell if priced right? What would be a good selling price to move it within a couple years? Your thoughts guys!
One sold earlier this month here on Fchat in 5.5 hours asking price was 39,500 sounds similar to the one you are looking at 89 with 28kmiles. IMO these cars will go up in value as there is such a low supply if you can get it for the right price go far it.
Do it, man !!!! T coupes are so beautiful !!! For that matter, T cars are quite different from all other Mondials. You'll see, I'm sure. Cheers, Hank
Buy the Mondial coupe because you like it, but not as an investment. According to Jay Leno and other experts, most cars under $50,000 are not investment grade. Yeah, you might get lucky and make a few bucks down the road, but historically, the stock market has higher returns with less risk over a long period of time.
Really, this is the best advice. These cars are fully depreciated, but as with most fully depreciated cars, maintenance increases. Ferrari's and the Mondial is no exception, if anything budget a little more for maintenance. So the true cost of owning the car will be maintenance. They drive extremely well, especially considering how old they are. The power steering is not even noticeable it works so well, as do the adjustable shocks. Will they appreciate? Perhaps slowly, and you may even see appreciation greater than your maintenance costs. But don't buy as an investment. Buy it because you like it. Regards, Jerry
Buy it to enjoy ...if you make a few bucks later then thats even sweeter Frankly I like the prospects of breaking even dollar wise with the Mondial in the mean time she gets driven
If you already have a Mondial and are considering another, you clearly enjoy them. So, "buying to enjoy": check! Mondials right now (but not for much longer imho) are one of the most affordable Ferraris money can buy. No way to go but up. So, "buying as an investment": check! Classic win-win situation, Claude. I compliment you on being such a Mondial enthusiast to the point of adding a second car. Kudos for that. Kind regards, Nuno.
He said it needs an engine out. If he buys it for market price, then he will be underwater. If he negotiates that into the price - then he might do ok. I would sooooo buy this just for fun. Not for an investment. Even if you take the long term view, I don't think there will be a lot of money in these cars, especially when considering taxes, maintenance, fuel, tires, fun, etc. - if it is driven. If it isn't to be driven, then I wouldn't want to purchase it. Sid
+1. Due for service means a potential $9K bill if all goes well. You probably won't get that back Claude but that shouldn't be the reason not to pull the trigger. Life is too short. Take it from a 14 time Mondial owner
Thank you to all of you guys. Nuno I owned one a couple years ago but sold it. I know I will love it and I will enjoy the car no doubt about that. Engine out is not a problem for me, parts only. My own labour is free and fun on these cars. Relaxing and gratifying. Stephane, you know the car it's the one I gave info on it and you called the owner. BTW do you still have yours? or is it sold? I can't take advice from you, you've owned more Ferrari in one year than I will in my entire life LOL! What is the market price? If I'd follow my heart, I'd buy it on a heartbeat and keep it. But I have to convince myself I'm doing a good move and there is a possibility to resell with a tiny profit.
Although I think that shouldn't command your decision alone, if you'll stick with your Mondial for the long run, I'd say that's probable. Indicators certainly point in that direction (FML, auctions, difference in terms of appreciation between NA and EU, etc). If the profit, should it occur, is worth it or not, it's personal and hard to tell. Like Stephane so correctly pointed out, life's too short. And you had a Mondial in the past, Claude. I'm sure you miss it, even if it's just a tiny bit. You know you want it! Kind regards, Nuno.
It's that car! In that case I would highly recommend you pursue it, and if you do that major yourself, you will definitely have a good return on it should you decide to sell down the line. I can't imagine prices going down anymore on these, specially the coupes, incredibly rare on this continent. I think $30-$38K is market on the T coupes, it should hold still at worst. I did sell mine, but I already regret it, that was a mistake. The Testarossa is making me feel a lot better though
Bob sold his red one a couple of weeks ago. I think it was posted at $39k, fully serviced, showed very nicely. It sold in 5 hours!!! Regards, Jerry
Thank you again guys. Stephane you didn't convince me it is a good move, but you did convince it can't be a bad one ;-) Like I said no engine out cost other than parts. And also no shipping cost. And I only pay provincial tax because between two private party. Now let's see if life will make it happen.
And I sold mine in less than a week. The coupes are so beautiful. I think you are on the right track Just think about how many other opportunities you will have at a relatively local T coupe, in this condition, and not from a dealer, probably never again.
Claude, you are a Ferrari crazed middle age MAN, LIKE ME ! Go for it my friend! I don't see how you can lose, you are a mechanically inclined and know just about everything with these cool cars.
As others have said, but the car that you love first...if it appreciates that's jsut gravy. There are better alternatives in terms of 'investing' in my opinion. My biases self is however convinced however the price has stabilized and will at the very least follow inflation at this point.
I've never been good at investment. Actually the best money I made was with cars I bought for myself and when was time to sell they were more valuable than when I bought. Mostly Mustangs. And to be honest I prefer to have fun with a car than look at numbers on a paper.
Claude, May I risk a "lateral" answer, for What It Is Worth? I have never owned a "Mondial" but I have got some kind of fever, the 328 one, as I own two, a GTB and a GTS. I must confess to have, however, from time to time, been giving a thought at buying a Mondial Cabriolet. To be frank, if you are looking at a car that you could drive, and that also has a small investment potential, I'm sure the Mondial Cabriolet is a better bet than the Coupé (sorry Coupé afficionados, please either forgive me or sent me burning in hell). But that's just me, an non-Mondial owner... Rgds
While I'm a coupe owner, and personally think the coupe is stunningly beautiful, there is a lot going for the convertibles. They are the only "classic" full convertible, family friendly Ferrari - that is reasonably affordable. Got kids, friends, multiple significant others? The Mondial CV might be the right choice! Given the acquisition cost, taxes, registration, maintenance, and other misc costs, I don't think there is much investment potential in the Mondials (yet). If you want a fun car to own and drive, that is a true Ferrari (and all Ferrari), that will cost less than a new Honda Accord - The Mondial is a great choice! I came real close to bidding on that $4500 Mondial on ebay last week. My thoughts were to acquire it as a track-only car. Imagine getting a fun track Ferrari - ready to run for less than $20K!!! (My wife's gentle reminder of my other "disassembled" project cars, combined with threats of bodily harm - "persuaded" me that another project isn't in my best interests - at this time). Even given that - I'd love to have 2 Mondials - one for street use, and one for track use. sid
Different markets with different perspectives (Cabs/Coupes and Euro/US). Cabs are much more common when compared to the Coupe over here and the opposite for you over there. Both are awesome and if I lived up north I'd have one of each, sort of (3.2 Cab and a t Coupe). Keeping them well maintained and presentable should provide a flat return which beats a depreciating asset any day.
