getting close to my first FCar

PPI is just guidance. Trying to hold people liable for them is why many dealers and shops won't do them anymore.

I have haggerty, they want it in a garage. I pay for an offsite storage unit 10X20.

Some say to have the major done yourself, that way you get to chose the shop. If the seller is using a good shop then they can do it. It is likely there will be other things found during the major. There are items that simply can't be seen without disassembly.

You are buying an old car, it will have problems, why would you want to hold anyone liable for an old car you purchased? No guarantees. Folks buy drivers and then put tens of thousands of dollars into them. Why wouldn't you keep a 20 to 30 year old exotic in a garage?

 

I just bougt my first ferrari - i had done 5 ppi's before i found the right car.

You must do a ppi - a ppi will not give you any basis for cause to sue the people doing the pip-which is why it must be done by someone that you trust.

Also, be prepared for a ton of problems in a ppi - inspectors tend to cya for the reasons mentioned above.

Eventually i came to accept is there is no perfect ferrari, particularly ones that are 25 years old. Just plan on $5k to $10k to get the car where you want it.

Good luck

Lewis

 

Lewis, I don't mean to contradict you but I thought there was an article in a recent Forza that the shop that performed the PPI on a 365 GTC/4 was sued becuase they did not accurately identify a patch on an engine. Pretty sure it was recent but I have been looking through some old ones recently so I may be off on the timeline.

 

Unless it was a situation where the buyer found out the PPI shop was somehow in some undisclosed relationship with the seller, or that the shop didn't do the ppi and charged for it, only a real ********* would sue a mechanic over a PPI.

As for insurance, I have Hagerty. I can't imagine a better insurance company. When that moron hit my parked car in the parking lot...and then her insurance company, which initially agreed to pay, essentially changed their tune when they saw the bill, Hagerty stepped in.

Hagerty sent in an adjuster who knew Ferraris and understood the hefty cost involved in doing the repairs right. When they got the hefty bill to essentially fix a fist sized dent and a scuffed bumper, they paid it promptly and DID NOT RAISE MY RATES, and they told me they wouldn't have, even if it had been my fault.

Hagerty's rates are very competitive, but for a car I love, they could charge me double and I wouldn't even care.

 

I had Grundy in FL and they were great...handled a claim very well. When I moved to SC, Grundy had a policy that they don't insure cars in SC unless they are 25 years old or older. My 308 was not that old at the time, so...Hagerty it was. I have not had any losses with them (knocking on wood) but am pleased with their administration of the policy.

 

Sports Car Market wrote about this in their legal files. I think it was a 2009 issue. You can sue anyone you want, the problem is winning.

 

Just found it. FORZA August 2010. Page 16.

To be clear I don't condone it unless their is gross negligence (i.e. Didn't even look at the car but passed it anyway.)

 

FWIW, I checked out Hagerty and a few other classic car insurers. They seemed to be very strict about the conditions the car was kept in. They wanted it garage kept, only driven on the weekends, only at car shows or cruising, etc.... So, if I drove to work, then stopped at Wal-Mart on the way home and someone hit me I would NOT be covered at all under their policy.

Then I checked with my normal car insurer. They were very competitive on pricing, would allow me to drive it to work, park it anywhere I wanted, and insured it for a higher value than the others would even allow me to do.

Point being - just check out your current insurer before deciding.


PDG

 

And, then... the problem becomes collecting, once you win.

 

Which model are you considering?

 

If the PPI thing doesnt work out or doesnt seem worth it you can always use your own God -given tools: Your eyes, ears, and gut-feel. A thorough test drive and careful, patient inspection by yourself and hopefully a friend or whomever to come with you to look at a car can do a great job at determining the health of a car. Drive it for a while. How does it feel? Strong motor? Lots of smoke? Strange noises? If a car has a major issue that someone is trying to hide, it will reveal itself during a good test run. You can only patch up things so much. A worn cluth is easy to diagnose. Dont just drive it around the block. If the seller is getting ansy about a longer test drive then that alone is reason to walk away. They should understand. And, a well documented car with only a few owners is a HUGE plus, IMO. Those cars are almost always winners.

Ferraris are just cars at the end of the day. If there is a bad leak, you'll see it. If it overheats, you'll know it. If the synchrois are gone you'll know that too. If possible bring a friend with you to look at any car you're interested in. Those extra set of eyes are worth a ton. You may even be able to get another F-car enthusiast to meet you there to see a car.

If you filter out cars with no history or cars with 18 owners in 25 years you'll end up with good cars to look at. Just pre-fliter a lot of them out. Thats my plan. After the 4th of July break Im going to see a few cars. We'll see hot it goes.

 

Try ANPAC (American National Property and Casualty). They allow 2500 miles/year for classics with no driving restrictions except racing.

 

Try Grundy.com. I got a quote of $380 for a 1985 308gts for a year.
Good luck, Samson

 

Lawsuits are the reason many shops won't do it any more. When I had Norwood do the PPI on my car they have one way they are willing to handle it - compression test and 1/2 billing up front. Then the second half was everything else and I had to fly there and go through the car with him personally. That way everyone was happy.

I'm on the Hagerty bandwagon too, great company. They have some requirements like a separate daily driver and a garage, but otherwise are very flexible. They don't put mileage or destination restrictions (like driving to work), just expect the owner to be "reasonable" in driving a collector car - the policy is actually worded that way. I like that.

On the major, I know what my choice was. My car needed a full major $ervice and I took that into account with the purchase price. Then I had Norwood carry out that service plus a few other needed items. From this point, I'll maintain it myself but I established a baseline with a nationally respected shop. True it cost a bit more, but I have a very nice car with maintenance fully up to date that I can just drive, maintain and enjoy, without having to do a bunch of work before I can even drive it.

 

BTW, you are also likely entitled to "diminution in value" (from the adverse party) of your car over and above the actual cost for repair. Your mondial, with some property damage, albeit repaired, is in actuality worth less than one without any repairs. Rob