Would you buy a 360 off an Auction?

Call Sport Auto in Summerfield NC. Ask for Steve or Tom. I bought my 360 they had on consignment. I just had Steve pick me up a Mercedes C300 for my daughter today at the Manheim auction in Orlando. He can give you the inside scoop. He founded FCI.

 

Auction cars go to showroom floors with inflated stickers and minimum necessary work performed, right? Nothing wrong with buying an auction car, though I assume you can still get a PPI though. Would want an inspection obviously.

 

Mike
Now I know why he replied to my email that he was in Florida until tomorrow.
Alan

 

If the auction didn't allow for a PPI, I would probably NOT buy a 360 via that method.
I am unfamiliar about the auction rules (assume they vary) relative to a PPI.

 

Manheim will allow a pre sale or a post sale inspection. However, I don't know if a Manheim inspection would be the same caliber as what most would want for a Ferrari though!! I'm sure that "most" selling dealers would accommodate a more thorough inspection pre sale at the prospective buyers request and cost.

 

You could find a lot though. Leaks particularly in the drive train or ps rack, tie rods, you'll be able to tell if the belts have NEVER been changed. If you could do that and somehow manage a compression test, that would probably be good enough for me.

 

I ask myself WHY is this car being auctioned? "Car was meticulously maintained by an anal-retentive ex-Ferrari mechanic and runs absolutely perfectly with perfect bodywork.. PO just doesn't like selling cars via cars.com, ebay etc and prefers the auction format"

Sure.

There is somethign wrong.. seriously wrong that the insurance company didn't want to spend money on to fix that was too expensive. If I can fix that with a used part OK an didn't mind a severe hit in resale, then I'd do it. Problem is you have to be up on the repair, know how to do it cheaper and more cost effectively than the next guy. Salt water immersion.. parts car unless proven otherwise. All electronic parts will be toast. Accident.. how much framework? I like a stout crumple zone personally.

 

I would think the most common reason they end up at auction is they're traded in at a desler that doesn't sell ferrari and isn't getting what they want out of a fcsr dealer. Fcar dealers lowball like crazy.

 

You might end up paying more then the car is worth, Manhiem you have somewhat of a guarantee but still, with auctions expect the worst and hope for the best. Just stick to auto trader and bargan or craigs list at least you will get a chance to have a Ferrari tec look at it before you buy it.

 

Dealer auctions have a inspection schedule for most of the cars but after that it is up the dealer to deal with issues..ie: smog, etc. Arbitration at a dealer auction is good for that day only and only covers few things other than mechanical. Anything sold as is is EXACTLY that. I have a dealers license and bought my car private party. I have seen many sob stories with auction cars but with the price of repairing a Ferrari....I wouldn't and didn't. Most auction cars are there because the car is out of scope of the dealer..or a lease return...and usually dealers keep cars they can sell. Auctions can be a dumping ground as well so....that's my 2 cents.

 

My friend in the car business said exactly what Curt said above: "Why is this Ferrari at auction?" I think that question has too many unknowns, and if you can't get an answer that makes sense, then is it really worth the risk?

As the old saying goes, if you can't afford a good Ferrari, you surely can't afford a bad one!

 

Manheim will perform a detailed PPI for a fee which can be conditional on "pass" to complete the sale. If the car is without records, I would budget for a major service to CYA.

 

Yes they will but those are all-around mechanics...not Ferrari trained guys.

 

Some people ( myself included) may be a little hesitant seeing it has been through auction on a carfax.

My opinion, is the car is at auction for a reason... whoever had it, thought it wasn't worth re-selling. People do CRAZY **** to cars at auction to get them to go across the block... electrical tape over warning lights ( inside the cluster where you can't see) pulling bulbs, duct tape and glue, wash down leaky engines to make them look bone dry, clear check engine lights... and PPI's don't tell the whole story either. Plenty of things go unnoticed during PPI's.

 

I think it would be a great idea
If the car's inspection(s) at time of purchase are OK and...
If you keep a detailed record of service going forward and...
You save a lot of money!!!!!

At some point in the cars lifetime the condition will speak for itself regardless of ownership history. If you are keeping the car for at least a couple of major full services I think anything prior will wash out. This would be at least ~4 years of planned ownership.

Here's a scenario that would wash away the taint of an auction car IMO...
You do a major service plus a couple of while you are in there things right off the bat you are looking at ~5K
Then ~2-4 K each year for the next couple of years and then another major in year four of ownership (three years on belts) at ~3-6K

This makes a nice service history and the car would speak for itself IMO
Your bank account would also speak for itself...being ~15-20K less full!!!

Good luck man, lets get you in a car!

 

I took alot of risk when I bought mine. I basically thought "if it runs and drives.. I'm happy and can work with it". That was my criteria to be a happy 360 owner and I priced that risk into my car. My car has more than fulfilled that criteria for purchase.

If these cars fulfill your criteria for a happy sale, then get it. If you're happy with the price to outcome (all the possible things that can go wrong, etc.) then by all means get it.

 

auction= best way to be back on F-chat complaining about ferrari not beeing that trustableand beeing expensive to drive