Service Record Question

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You're going to sink money into any technologically sophisticated later model Ferrari, regardless of whether or not it has service records. That is why new cars (which have no service records) cost more, to cover the inevitable warranty expenses the factory will incur. I am not trying to be a smart azz either, just making a point for the sake of comparison.

Most often, service records do not tell you when a sensor or ECU, or a power seat motor, or a window regulator, will fail, nor will they tell you if a cat is starting to get plugged plugged, or if your tensioner bearings are starting to fail, etc, etc. And if they do, they are often excluded from the package of records you receive. They are just a snapshot in time of the condition of the car at that moment. Negotiate a discount that you think is appropriate and move forward assuming that your due diligence (a PPI and the various VIN search reports out there) tell you the car seems OK.

What is it worth ? That is in the eye of the beholder. To me, having no records is a 10% deduction. Which is the cost of a major service, or two........well worth it IMHO.

The only downside is a smaller pool of buyers later on, but if you buy low, you can also sell lower in time.

 

I posted a similar question in the 360/430 section...you can view the responses.
But in general, most buyers shy away.
I was close to pulling the trigger on a 430 but I was on the fence and then having no records kind of steered me away.
If I REALLY loved the car and would have kept it a long time, I would have gotten a PPI and sealed the deal.
But I know myself and I may rotate the car out in 1 or 2 years and when it comes time to sell I don't want to face the same hesitation from future buyers.

 

You might strike lucky by talking to the original supplying dealer - are the service book handbook etc etc also missing ?

 

I purchased a much older car and did as suggested above. I called a shop that my car went through, they were very forthcoming about the car. My car too has no initial service records but at this point I have 15 or 20 years worth.

If you end up keeping the car for 5 or more years and show records for annual fluid changes and services, in that time frame you have built a track record for the car.

My service booklet has selling dealer info in it (they went out of business) and it has the initial services stamped into it so I have no reciepts but I do have a record that it was done.

Ask to see the books, tools, anything else that should go with the car. If those items aren't there I'd wonder why. Someone pilfered them from the car, the car was in the possession of someone who does not respect the car for it's identity.

Good luck, I hope it works out for you. A 575 is on my dream list.

 

Very rare - check out the 575 area for many threads with more detailed buying advice - part of the inspection should include an SD2/3 readout showing clutch life etc

 

Since it has no history, I'll make one up. It's a repo. The current place that is selling it got it at auction.

Sounds like a used car that was not owned by a car person.

May end up being perfectly fine.

I bet they have a pile of room for dealing on price.

 

You should certainly take some money off your offer-- I would say a typical 550/575 will have books, tools, and at least recent service records. So not having those means this car is worth less than an average car.

Personally, I would get a subscription to Ferrari Market Letter and have them check their files before buying any used Ferrari. They can tell you any time it's been advertised in the past, with the mileage, etc.

Also keep in mind that this car will be harder to sell when you go to sell it. Ferrari buyers tend to be picky about that sort of stuff.

 

I'm in agreement with making your own history. However I'd say 5 years with two services and annuals and showing a desirable amount of trouble free miles every year. No records from day one will keep it out of top dollar collector range, but if you are buying to drive that won't be necessary. Find prices for the missing bits, books, tools, etc. Part of owning a Ferrari is having it complete. Get all prices from retailers as you can't guarantee you will find on ebay. Take this amount off the asking plus the service and I'd knock off a few percentage of price to take into account the lack of records (others will know better what should be deducted for this model). It will make it harder for you to sell short term, it should make it harder for them to sell as well. You should be paying a below average market price for a car that has been vandalized of the bits that belong with it.

But if you are head over heels madly in love with it then hard negotiation is difficult if not impossible

If things don't feel right, remember that there are other ones out there.

 

You should probably go to the model specific forum in the sections below. You will get a lot more feedback in that area. You might specifically ask what the discount should be on this vehicle with no records and no tools/books. Ask them what else should be present with car, they will know best.