Am I Over Reacting??? - Auto Check Issue Freaking Me Out!!! | FerrariChat
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Am I Over Reacting??? - Auto Check Issue Freaking Me Out!!!

Discussion in '348/355' started by hensleyac, Jun 2, 2015.

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  1. hensleyac

    hensleyac Karting

    Jun 2, 2015
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    #1 hensleyac, Jun 2, 2015
    OK gang, am I over reacting? Auto Check state "Odometer Problem" on 348 I'm close to buying. Car is not being sold at discount due to this, does this reported issue alter the car value?

    Here is report excerpt... Maybe I am trying to see the "glass half full" because I want the car, but the mileage numbers seem reasonable to me.

    See 2/18/1999 - "NOT ACTUAL MILES"

    01/02/1994 LOS ANGELES, CA Motor Vehicle Dept. TITLE
    01/02/1994 LOS ANGELES, CA Motor Vehicle Dept. TITLE
    04/22/1996 LOS ANGELES, CA Motor Vehicle Dept. REGISTRATION EVENT/RENEWAL
    12/02/1998 CA 2,398 Motor Vehicle Dept. ODOMETER READING FROM DMV
    12/02/1998 CA 2,398 State Agency PASSED EMISSION INSPECTION
    02/08/1999 GLENDALE, CA Motor Vehicle Dept. REGISTRATION EVENT/RENEWAL
    02/18/1999 GLENDALE, CA Motor Vehicle Dept. TITLE
    NOT ACTUAL MILES
    07/21/2000 PONTE VEDRA BEACH, FL 3,194 Motor Vehicle Dept. TITLE (Title #:0081398672)
    12/06/2000 PONTE VEDRA BEACH, FL Motor Vehicle Dept. REGISTRATION EVENT/RENEWAL
    12/05/2001 PONTE VEDRA BEACH, FL Motor Vehicle Dept. REGISTRATION EVENT/RENEWAL
    01/07/2003 PONTE VEDRA BEACH, FL Motor Vehicle Dept. REGISTRATION EVENT/RENEWAL
    01/05/2004 PONTE VEDRA BEACH, FL Motor Vehicle Dept. REGISTRATION EVENT/RENEWAL
    09/13/2004 PONTE VEDRA BEACH, FL Motor Vehicle Dept. TITLE (Title #:0081398672)
    DUPLICATE TITLE
    EXCLUDED/EXEMPT
    10/04/2004 TAMPA, FL Motor Vehicle Dept. TITLE (Title #:0081398672)
     
  2. El Wayne

    El Wayne F1 World Champ
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    #2 El Wayne, Jun 2, 2015
    My guess is that someone made an error and checked a box that shouldn't have been checked (that really is just a simple check box on either the CA Certificate of Title or the CA DMV Form 262). Unfortunately, this will probably stay with the car for life.
     
  3. hensleyac

    hensleyac Karting

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    #3 hensleyac, Jun 2, 2015
    Could it be as simple as someone at the DMV couldn't believe that a car only increased from 2398 miles on 12/2/1998 to 3194 on 7/21/2000? A mere 18 months or so and only 800 miles driven. Of course we all know that is realistic on such a car.

    Seems a silly mistake could cost this car serious value. Car shows very low wear as it currently sits at only 11,000 miles and every area of the car reflects this low mileage.
     
  4. El Wayne

    El Wayne F1 World Champ
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    #4 El Wayne, Jun 2, 2015
    More likely they just saw "3,194" miles on a six year-old car and that was enough to do it.

    I think the effect on value depends on how long you anticipate keeping the car. Long-term, something like this is probably less of a concern.
     
  5. AceMaster

    AceMaster Three Time F1 World Champ

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    #5 AceMaster, Jun 2, 2015
    I don't see an issue here
     
  6. Bullfighter

    Bullfighter Two Time F1 World Champ
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    #6 Bullfighter, Jun 2, 2015
    This.

    I'm surprised the owner in Glendale didn't try to correct it.
     
  7. hensleyac

    hensleyac Karting

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    #7 hensleyac, Jun 3, 2015
    More Details Arrived.

    Beverly Hills Ferrari provided Florida Ferrari dealer (and current owner) a letter stating the speedo was faulty and replaced at 6574 miles in April of 1996. It states to always add 6574 to current vehicle mileage for true mileage. In car speedo shows 4835 plus 6574 for a total of 11,409. Owner is asking $58,000.

    Last service was a major with belts in 2005 and less than 1,000 miles driven since. Clutch is at about 40-50%.

    I see 3 issues to negotiate price. 1- Odometer 2- Need for Major Service (estimate $8,500) 3- Need for Clutch (Estimate $6,000).

    QUESTION - Is it reasonable for me to ask for discount due to the Odometer? Just for the fact that it is a PITA to explain someday when I go to sell and may deter buyers. If so, how much is fair? Thanks!
     
  8. bpu699

    bpu699 F1 World Champ
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    #8 bpu699, Jun 3, 2015
    All my cars now say NOT ACTUAL MILES... The DMV in wisconsin took it upon themselves to post that on any car greater than 20 years old... Plus, I am sure they don't believe the cars have less than 20k miles on them...

    Took my tr for an emmissions test at 12,000 miles. Sheet ended up saying 112,000...

    I don't think thats unusual...

    I brought it up when buying from LFSC... they wouldn't drop the price due to this, and neither will I when I sell. Its pretty obvious where the issue falls...

    Bo
     
  9. Bullfighter

    Bullfighter Two Time F1 World Champ
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    #9 Bullfighter, Jun 3, 2015
    I wouldn't worry about the car based on what you've posted, but at $58K you are paying an odometer premium for a 348, so it would bother me a bit that the odometer has a story attached to it.

    But, buy the car if you like it. It's documented by a Ferrari dealer, which helps quite a bit, IMHO. The nice thing about lower mileage cars is that they tend to have nicer paint/body, interior, etc. It's hard to duplicate that in a 50K-mile car. If it's a '94 Spider, that's probably the last and best of the 348s -- not a lot of those, if it's your thing.

    There aren't many (any?) perfect 20 year old used cars out there.
     
  10. Bullfighter

    Bullfighter Two Time F1 World Champ
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    #10 Bullfighter, Jun 3, 2015
    Wasn't there a closer place to get the emissions test done? 100,000 miles seems far.
     
  11. bobzdar

    bobzdar F1 Veteran

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    #11 bobzdar, Jun 3, 2015
    Need for a $6k clutch when it has 50% left? I'd tell you to go pound sand if it were my car and you tried that kind of bad faith negotiating...
     
  12. hensleyac

    hensleyac Karting

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    #12 hensleyac, Jun 3, 2015
    Didn't mean to get you all fired up. I'm not asking him to lower price by $6k. He actually shared the info with me and offered to split price of clutch. Very fair of him IMO.
     
  13. Schatten

    Schatten F1 World Champ
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    #13 Schatten, Jun 3, 2015
    6K for the clutch? A bit on the high end, esp if it is a later 348 with single disk.

    Also, as AceMaster says, I don't see an issue here.

    Speedos on these things are weird too. They'll all be off, even if the reporting is in error. Mine does 10mph when sitting at a light. And yes, miles accumulate standing still.
     
  14. hensleyac

    hensleyac Karting

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    #14 hensleyac, Jun 3, 2015
    Interesting... Thank you all for your input. Very helpful.
     
  15. hensleyac

    hensleyac Karting

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    #15 hensleyac, Jun 3, 2015
    Thanks for your input. It is a 1995 Spider so last model year for the 348.
     
  16. bobzdar

    bobzdar F1 Veteran

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    #16 bobzdar, Jun 3, 2015
    I agree, very fair. Probably be 10 years before you have to change it.
     
  17. 134282

    134282 Four Time F1 World Champ
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    #17 134282, Jun 5, 2015
    Hensley, can you tell us the VIN of the car in question?
     
  18. NeuroBeaker

    NeuroBeaker Advising Moderator
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    #18 NeuroBeaker, Jun 5, 2015
    As we're getting into more technical discussions, I moved this to the 348/355 forum to make sure you get more targeted views. :)

    On 10 year old belts, I would think a major service service is the first thing you will need to do upon purchase. The timing belts themselves are reputed to have a shelf life that is independent of the number of miles actually driven on them.

    All the best,
    Andrew.
     
  19. AceMaster

    AceMaster Three Time F1 World Champ

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    #19 AceMaster, Jun 5, 2015
    As Bullfighter said, you have the documentation to back it up by Ferrari; that's better than gold. If that doesn't satisfy someone, then I'm afraid nothing will.
     
  20. 97 Spider

    97 Spider Formula 3

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    #20 97 Spider, Jun 5, 2015
    I don't think this is even close to true. Accumulating miles standing still? The speedo doesn't drop below 10 mph because there is a pin there and the needle can't drop lower. Where your speedo needle is has nothing to do with the odometer anyway. You can twist the needle to 100mph while your standing still and it doesn't affect the odometer. They are completely independent.

    Both my 355 and 348 show 5-7 mph over what the actual speed you're actually moving at. I've checked the odometer on many journeys and they both come out dead nuts accurate.
     
  21. AceMaster

    AceMaster Three Time F1 World Champ

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    #21 AceMaster, Jun 5, 2015
    I think he was kidding :)
     
  22. chas-3

    chas-3 Formula 3
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    #22 chas-3, Jun 5, 2015
    Yeah, I think he just forgot a couple tags. ;)
     
  23. judd10

    judd10 Formula Junior
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    #23 judd10, Jun 5, 2015
    So my speedo seems to overstate the speed by around 5-10 mph, too. But I've never checked the odometer on a longer journey. It sounds like the odometer is independent of the speedometer mechanism. Just curious... can anyone confirm this/how they work and what sensors the speedo and odometer pull from?
     
  24. hensleyac

    hensleyac Karting

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    #24 hensleyac, Jun 5, 2015
    ZFFRG43A3R0098194

    1994 Spider
     
  25. 134282

    134282 Four Time F1 World Champ
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    #25 134282, Jun 5, 2015
    Awesome, thank you; black with tan leather, used to (registered) in Florida as of 2011.
     
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