Higher Mileage 430 - Should I Buy?

I have an opportunity to buy a higher mileage 2005 F430 with approximately 54k miles. The price would be around $80k to $85k. The car has a clean CarFax and many maintanence records. It is a driver's quality car, however very well taken care of.

This car also has a fair amount of tasteful mods done to it. I have always been told that mods ultimately do not add value to a car when you sell. Is this the same in the Ferrari world?

Looking for opinions

 

It depends what you intend to do with it. If you believe it to be an investment then don't buy it. Only low mileage original cars will eventually increase in value.
If you want to drive it (and isn't that what it was made for?) and the price reflects the mileage then go for it. If it were any other car of this age then the mileage would be classed as low!
Actually there is some logic in a higher mileage car being cheaper to run/more reliable. All the components will have been warmed up and lubricated on a regular basis, any worn parts will have been related. My own car is a 360 with 68000 miles on it. I'm not afraid to drive it in case I increase the mileage or devalue it. It sounds and drives as good as any other I saw but was significantly cheaper and came with a raft of receipts and services.
As long as you like it and it has been looked after - go for it!!!!

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Ferrari techs I've spoken to say the cars do well with higher miles. One of them said that a 125,000 mile F430 one of the customers has pulls harder than other F430s they've had. That may not actually be true, but the point is it's not like the car disintegrates at 75k miles.

I agree that, if you are looking to drive a lot, higher mileage is great as the car is less expensive and you don't need to worry as much about depreciation. When you have a 10 year old car with 500 miles on the odometer, each mile you drive is like tossing cash out the window.

 

wholesale for that car is in the 60s...in the mid 70s id be a buyer. the mods are only worth something if you choose to care about them enough. i wldnt hesitate on a 50k mile car but for a little more money (10k?) you can get one with half the miles. definitely not taboo.

 

Is this car in Texas by chance?

 

Yes

 

Dan's car in austin?

If so, id have no reservations buying that, it's a well sorted car.

 

didnt Dan's car sold a few days ago for 86,100? hmmmm...

 

I agree that if it's Dan's car (Normal Guy Supercar), it's probably solid. I have a recently purchased 2005 F430 with 26k. Wouldn't have any reservation putting another 100k on it. The only thing that would keep me from doing that is if I can't get rid of the itch to buy a 458. The F430 is a fairly straightforward car mechanically (within the context of exotics). From what I can tell, I agree that with regular use and maintenance this thing won't have issues for a while. That's assuming you didn't have a prior owner who was doing cold start revs, deferring maintenance, and things of that nature.

Regarding customization; I'm in the "typically devalues the car" crowd. Personally, I would exempt the exhaust from that statement. Header replacement would be considered a pro in my opinion. That said, if you are seeking the specific customization already offered, it would save you money that you were planning to spend anyway. No real right or wrong, it depends on too many factors.

 

It's still for sale....surprise! ..surprise! ....

 

Well it was owner maintained....unsellable!

 

I'm in the camp that modifications that permanently alter the car devalue the car. If they are reversible to stock, and the stock parts come with the car, then they add no real value to the car.

Unfortunately that's reality.

 

Since the majority seem to know this car, can you please let me know what you feel is a fair sales price and why?

 

Ferraris don’t get to 50,000 miles unless they are “good” cars (mechanically reliable enough to drive often). I know low mileage cars fetch a higher price, but I would be just a concerned buying a 10+ year old car with only a 1,000 or 2,000 miles.

My only concern buying a car with lots of miles is where in the maintenance cycle is the car upon sale. Recent services and recent miles suggest a possible good deal. Just my 2 cents.


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Have you spent any time watching any of his videos about his car? That's a good place to start...

 

Sure you could, but Dan's car is sorted and in fairly good condition. Always a risk buying a used Ferrari and especially a garage queen. 10k can be spent pretty fast if the manifolds, clutch or the F1-system need attention.

 

Someone will always want a Ferrari and cars such as these represent great value because in reality 54k miles is low mileage for the year and the mechanicals, just not the average Ferrari buyer.

Buy it at the right price and enjoy - it will sell again at the right price.

 

High mileage is a big deal in the Ferrari world. If you are considering this car, keep in mind it will be hard to sell unless the price is really low (60s). I don't think it's worth more than something in the low 70s.

 

Agree with Brookliner7. Look up Normal Guy Supercar on YouTube and get caught up on what he's done with the car during his ownership. It's not to say there isn't always a risk that something will need fixing right after you purchase (repairs are unpredictable), but at least you know he won't hide anything. With his new publicity and such, selling you a lemon would be too big a risk for his livelihood. Personally, I'd rather buy from him than most dealerships, as they're more likely to patch up issues long enough to get the car sold.

The positive is that it has a documented history that anyone can look up even if you decide to resell later. That keeps the price from being at the bottom of the barrel based on mileage. Without me really researching the car, I'd probably offer between $79-80k. It's got the resell red color, he's addressed some known issues, you know its recent history is on video (also, its readily available to future buyers), and has some positive modifications (I think headers, redone headliner, bluetooth, etc.). That helps offset the mileage depreciation. If you don't care about color, there are some good options that pop up at around $90k with a fraction of the miles, but limited records. I think $86k is a little too close to those other options, but ultimately things are only worth what people are willing to pay for them. If you're willing to pay $86k, go for it and don't look back.

Edit: If it makes you feel better, I probably would have taken a bit more savings and purchased his car at $80k (we live in the same area), had he listed it for sale a few months ago when I was searching. I paid $90k + TTL for mine with 22.6k miles, but it's not red.

 

It’s a base Ferrari, not an Enzo. They are meant to be driven and will always find a buyer no matter the mileage as long as the maintenance is up to date.

 

Totally disagree...specifically when it comes to this car in particular when you see the amount of well documented maintenance and repair it has done to it already.

$70's would be a car with not much records, not much or unknown maintenance, might need major service, clutch replaced, and not much documented or unknown repair to common issues such as manifolds.

Dans car is well maintained and he has plenty of video documentation to back it up.

 

I forgot to mention: ensure the ~40k service was carried out. It involves (I think) removal of the engine to check the timing chains.

 

I agree with several of the statements here. Four years ago I bought a 40,000 mile 2007 F430 Spider. I wanted a car that I could drive 2,500-4,000 miles per year without worrying about depreciation. The top has been a problem and I replaced an F1 pump and a clutch. I have driven it 10,000 miles and have been happy with my choice. The advice I would give is to get one with complete service records, I didn't, and it has been problematic. Just be aware that when you go to sell it, about 90% of Ferrari buyers will not even look at it.

 

The car has been tracked, their is road rash on the bumpers, the ash tray is broken, their is water coming in from the tail-lights, etc. etc - if you guys consider this car a "good" condition car then my car is a perfect, concours example. 54K miles is like buying a Honda with 300K miles - the car is going to be really hard to sell unless it is really, really cheap. For a little bit more, $90K to $100K you can buy a much lower mileage and cleaner car.

 

yeah only reason to buy a 50k car is if your bottom fishing. for me 15k to 25k is the best bang for buck value wise