F12 Value Impact: Minor Accident

I am shopping for a used F12 (to go along with my 2014 458 Spy). I have run into a few that were in a minor accident. One car was backed into by a valet driver ($40k repair).

1. What’s a minor accident (non structural damage)?

Generally, I just pass on such cars. I’m wondering if that’s a mistake.

2. If the damage was minor (based on before pictures) along with a pre purchase inspection or a CPO- is a 10% reduction a good deal or a trap?

If one is going to own the car a long time- it may pay. On the other hand- if one wants to get out quickly it may be expensive.

And then there’s paint. Ferrari paint can be very inconsistent (I’m being nice).

3. Is it a mistake to repaint mismatched panels, a rock chipped hood or just shoddy factory paint for the sake of originality? These are not special edition models. FYI: I traded a six figure Ferrari that had a expertly repainted panel- no one noticed.

4. Also- Are the later years much better cars? How much more should a 2017 command over a 2014/5?

Thx for the help.

 

I'd stay away from any car that had $40,000 in damage. A car like that will be a bear to sell once you are done with it.

 

3. Is it a mistake to repaint mismatched panels, a rock chipped hood or just shoddy factory paint for the sake of originality? These are not special edition models. FYI: I traded a six figure Ferrari that had a expertly repainted panel- no one noticed.

Anyone have an opinion on this?

 

I'm not a paint specialist and don't pretend to be one but trough the years I've seen how my detailer who is a paint specialist approaches the repaint jobs. To start with there are paint colors like the Grigio Ferro on my F12 which are extremely difficult to match with the original and when one panel only or sections are painted the difference can always be spotted. On the other hand there are colors which can be repainted with a perfect final result that no one is able to tell the difference.
I believe it's no mistake to repaint for the sake of originality as far as the job is done with perfection.

 

Thank you. I think that’s logical. Do others agree?

 

Depends on color. I wouldn’t touch it.

 

There is clearly two different camps when it comes to re-paint:
1) Re-Paint does not lower the resale value of a car, it is just "normal maintenance".
2) Re-Paint will lower the value of the car, since it is not original anymore.

Now here comes the nice twist:
The dealer here in Sweden, Autoropa, says when one collects a new Ferrari or McLaren, that they will never sell you car 2nd hand if it is not protected by ppf (paint protection film, or "stenskottsfilm" as it is named here in Sweden), since customers are so sensitive to re-painted cars. However when they have cars in the 2nd hand market they are NEVER protected by that ppf (it is removed since they polish the car with some fancy stuff that makes even more scratches to the paint surface.....) - I guess the simply like to make a mess of all cars paintwork (or sell more ppf - make your own choice).

In the end, everyone that I talked to here in Sweden consider a re-painted car to be at lower value. There are clearly people who will walk away from cars that has been re-painted. Some might accept the re-paint, when the price has been reduced with a substantial amount of money.

In the end it will come down to your own preferences: Do you like a specific car? check the car, it may or may not been re-painted, will YOU suffer from knowing this? If no, then go ahead - however if you are extreme about maintaining your cars, why start with a re-painted car?

 

Why? Because it looks better. Because I hate the sight of paint chips interrupting the otherwise beautiful body.

Chips are like acne on a beautiful face.

 

In the US the general rule is repainted rocker panels and bumpers are OK- thats part of life. But repainted hood, doors, trunk, roof- that is going to lower value. Most dealers will have paint meters and they can know right away if the panel has been repainted. They will check.

 

Selling or trading in a used car without a clean CarFax, especially an expensive high end car, can be quite a challenge.

Most private parties and dealers won't touch it. And why should they? There are plenty that have a clean CarFax.

My advise, stay away

 

I’m told that a high quality job will be very difficult if impossible to tell. If it is really just cosmetic and not a rare car- one that is used- why would one prefer a chipped hood or scratched door?

I have seen new- from the factory cars with repainted panels (mis-matched too)- FACTORY.

Ferrari paint quality has always been a weakness. So many issues.

When it comes to run of the mill cosmetic issues on a regular production Ferrari- why wouldn’t one correct it? The factory does- and does a poor job.

I think Ferrari buyer’s have lost their balance- especially because they think they know- when they really don’t- regarding “original” paint. IMO.

 

yes, as long as you paid cash to a body shop and not ran it through insurance, which usually triggers CarFax reporting

 

Staying away is the safe answer. Can’t get into trouble if the car is clean and has a clean Carfax.

On the other hand, if I’m going to buy a Ferrari to use and intend to own it for a long time- in which it will depreciate further- at some price it’s worth buying at the discount if the car is structurally sound. Essentially, you’re getting all the utility for less- and maybe substantially so- for what looks and drives exactly the same.

The question is- How much of a discount? Obviously- a personal decision.

An F12 is not a rare car (for a Ferrari). As the car depreciates further the discount on a slightly blemished but structurally sound car should logically diminish as well.

Funny thing is- accidents happen all the time- these cars get fixed and sold. All of them. They don’t just sit on the market indefinitely.

 

Im only telling you what every dealer for every type of car Ive ever bought cars from says. Of course Im hardly an expert on paint. But I have bought a lot of cars of different types over a long time.

Theres nothing wrong with your logic as long as your going in price is good.

Since the car is not exactly super rare, it means there will always be better examples out there that will favorably compete with your car.

 

In the case anyone is interested below there is an article by someone whose company has painted more than 500 Ferraris. He describes the difficulties of painting Ferraris in comparison with other brands.

 

Putting a paint meter on a Ferrari is much different than on a Toyota, or similar. The former often times gets readings all over the place, the latter is perfectly consistent. In fact, FWIW, a paint meter is a definitive tool for determining paint work on just about every car EXCEPT a Ferrari. Not sure what might explain the lack of paint thickness consistency, although poor paint practices at the factory along with damage before/during/after transit might well be the culprits.