Buying Options? | FerrariChat

Buying Options?

Discussion in 'New Member Introductions' started by GeorgeRiley, Dec 2, 2009.

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  1. GeorgeRiley

    GeorgeRiley Rookie

    Jan 17, 2009
    11
    Hi All,
    I'm George, a new member; I would like advise on purchasing options.
    I have saved around $80k-$100k, and would like to start seriously looking.
    It appears to me there are three basic options. (1) Purchase a used model from a
    reputable dealer (ie. Ferrari of Atlanta for example). (2) EBay or other on-line
    approach. (3) Purchase from private individual.

    Of the 3, I would be most comfortable with (1) buying from the local dealer, as that
    seems the least risk, but likely the most costly. Can anyone advise me about experiences going this route? Should I expect the ticketed/advertised price to be negotiable? Or do they generally hold firm?

    For option (2) I would only go that route if I inspected the car in person, which is
    possible only if the car is local. Has anyone had experience going this route? EBay
    motors does seem to have decent car history reports, so perhaps it's not so
    risky.

    I would be very hesitant to buy from a private individual; I think the risk of getting
    a bad deal (problem car) is just too great.

    I would be happy to hear advise from others who have experience with purchasing
    options and what worked or did not work.

    Thanks in advance for your responses.

    George
     
  2. greyboxer

    greyboxer F1 World Champ

    Dec 8, 2004
    12,664
    South East
    Full Name:
    Jimmie
    George when you get a moment take a good look through this site as your questions reflect lots of people's concerns and have repeatedly been answered - there's lots of information in the general area as well as the model specific and the geographic
     
  3. Tony K

    Tony K Formula 3

    Jun 7, 2006
    1,778
    USA
    Full Name:
    Tony K.
    Welcome, George. :)

    My experience has been that the dealers are as hit-or-miss as the private sellers, both in the quality of cars and in ethics. Some are great, some are to be avoided.
     
  4. agup48

    agup48 Two Time F1 World Champ

    Apr 15, 2006
    28,633
    Phoenix
    Full Name:
    AG
    Welcome George,

    although I'm not an owner, I would say regardless of where you buy the car from, always get a PPI done, and some of the owners/previous owners will say that you want to make sure you can afford to fix it/maintain it. Take my "advice" "with a grain of salt", I'm not an owner, and not an expert.

    Good luck on your future purchases, and we hope you stay on Fchat :)

    and...what model are you looking to buy?
     
  5. mseals

    mseals Two Time F1 World Champ
    Lifetime Rossa Owner

    Sep 9, 2007
    24,468
    Kuwait
    Full Name:
    Mike Seals
    BIG PLUS on the PPI...

    I'm curious, too... what model 'rings your bell'?

    oh, and Welcome!

    Mike in Kuwait
     
  6. GeorgeRiley

    GeorgeRiley Rookie

    Jan 17, 2009
    11
    In my price range the only reasonable options are a F355 or 360. I was told by
    a reputable dealer (a salesman at the dealership) that he did not think i would be
    happy with an F355, as he claimed it was hard to drive and not a "good ride".
    Perhaps he was just pushing me to higher priced 360, not sure.

    Ideally it would be a red 360, 2004/5/6, with a 6 speed manual. There is an interesting
    post by ddemuro on 11-28-2009 called "360 pricing" that gives a nice formula for
    a ballpark asking price for 360's. Worth a look if you have time. He claims that both
    "red" and "6 speed manual" add substantially to the price. I am also going into this
    with my eyes open about maintenance costs; I realize they can be substantial.

    Thanks to all who replied (so far, please keep them coming), particularly from greyboxer, who commented about looking for past posts about this subject. I did find a lengthy
    thread on eBay car buying and was quite informative.

    George
     
  7. GeorgeRiley

    GeorgeRiley Rookie

    Jan 17, 2009
    11
    Just to follow up on this thread, I got excellent support from Steven Echhoff
    at Ferrari of Atlanta. He found me a beautiful 1994 360, and I am now a very
    proud first time owner. Red, tan interior with red stitching, 6-speed manual
    transmission. Just what I wanted.

    George
     
  8. agup48

    agup48 Two Time F1 World Champ

    Apr 15, 2006
    28,633
    Phoenix
    Full Name:
    AG
    Congrats, but there is no such thing as a 1994 360. They were made in 1999-2005. Might want to verify/check your information.
     
  9. GeorgeRiley

    GeorgeRiley Rookie

    Jan 17, 2009
    11
    Of course I meant a 2004 360, not 1994; I guess I am getting old :-(

    George
     
  10. SeaNile

    SeaNile Formula Junior

    Jan 25, 2010
    679
    West Chester, PA
    Full Name:
    John
    Congrats! That is exactly the car i am looking for but probably 99/00/01 due to price.

    --John
     
  11. agup48

    agup48 Two Time F1 World Champ

    Apr 15, 2006
    28,633
    Phoenix
    Full Name:
    AG
    No worries George, just making sure you didn't get a bad deal or even a wooden Ferrari ;):D
     
  12. blackbolt22

    blackbolt22 F1 Veteran
    Silver Subscribed

    Sep 25, 2007
    5,808
    Boca Raton, FL
    Full Name:
    Mr. Anderson
    Go with the 360 and a 6 speed is a good choice IMO. They are much harder to find however so be patient. Decide which options, colors, etc are most important and start looking. Negotiate hard but when you find what you're looking for, don't worry if you pay a few thousand more for it. It will be worth it.
     

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