35k mile 05 430 spyder what's it worth?

Looking at a 05 430 spyder with 35k miles F1. The car is red on tan with lots of carbon steel brakes but shows an accident on the car fax. It also says on the car fax that there was NO damage. The car is in pretty nice shape but the front bumper needs to be painted and the right quarter panel and door was previously painted. There are no service records with the car nor do I have any history of it.

What is a good price to offer on this car? It is a repo with sitting at my local credit union. Any idea how hard it will be to resell down the road? What does a service cost? 5-10k?

 

I would personally stay away but between the miles and the accident history and then the lack of service history you should shave around 10k-15k (maybe more) off the top right away. There are a ton of 430s around. I wouldn't pay a dime over 125. It is a spider though.

The part that would shy me away the most is the servicing. These cars are built incredibly well but they do require the correct servicing. Try to find out if the car hasn't actually had them performed or if the records are just AWOL.

 

I too would not buy this car....dollar value, $95k-$105k, and don't expect to be able to sell it for more than you paid, etc...guys spending 6 figures will simply pass on a storied car...

 

Low ball them big time. It will probably need a clutch too.

 

90-100k like others said it may need a clucth andmajor service.

 

What is the cost of the major service? Would someone buy this car in the retail market for 99k given the lack of history and bad car fax? Can you find the dealer the car was serviced at and have them print the records? Sorry for all the questions but thanks for all the help!

 

Would you buy it down the road?

You just answered your own question.

As for service, what kind of service are you talking about? Oil change? Complete 30K? Brakes? Clutch?

You could spend as little as 400 or as much as 10 grand depending on what it needs.

Honestly, you're asking the wrong people here. You should get it checked out by a mechanic and then find out the truth. Everyone here is just guessing. You might was well ask your ouija board.

No service history, high mileage, obvious body damage, REPO.... most here will tell you to run away as fast as you can. I won't say that but to be honest, unless you can fix it all up and pay less than $140 grand including buying the car, its not a deal. Your better off just buying a good used one with lower miles.

 

You have to provide a copy of the title with your name on it in order to get records from a dealer associated with a car. Ferrari is very strict about it.

 

From AutoTrader, all available 05 F430 Spiders
Highest mile car is just over 20K miles and is also the lowest price at $134,500. Start deducting from there for milage, condition, pending maintenance and reported and/or discovered damage and repair........Steve

Highest Price: $159,900
Lowest Price: $134,500
Average Price: $150,010

 

With so many great 430's on the market why do you want to take over someone's (banks)
problem. An accident with no damage does not show up on a Carfax. I don't think you will ever be happy with something like that. If you are stretching your budget to buy a Ferrari, then save up for a while longer or buy an older car with no stories. I think you'll end up happier when it's all said and done. Good luck.

 

:facepalm:

 

My main worry would be the complex top mechanism. Any minor accident can throw everything out of whack. The absolute minimum you should do is a very thorough PPI by an independent shop, including compression/leak test, physically check clutch life, all 8 brake-pads, rotor thickness, evidence of previous paint/body work other than you mentioned, etc. I'd also change ALL fluids without service history, so factor that into your purchase price. But I agree it's generally a better idea to buy something less risky. Good luck.

 

Untrue. I've gotten records for cars I was looking at purchasing prior to purchasing mine. Most dealers just white out or cross out the owner's names.