help please

looking to purchase my first ferrari.
im a 38 year old plumbing contractor and not rich but i can afford 60-90k

i was looking at some 360 models but id love a 430.

any advice?
maintenance? resale value?

off topic but also theres a fellow selling a 430 that has a salvage title for 80k (ish)
31k mileage
looks great
hes claiming the vehicle only had a front bumper damage with receipts and photos of the repair (about $11k)
seems to be an honest guy but i dont know much about salvage titles, is this a good deal?
what about insuring the vehicle in california?
any help on any or all topics would be greay appreciated

 

Cars dont get salvaged over a bumper. Trust nobody when it comes to used cars.

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Lots of recent advice here specific to your budget range including read as much as possible in the 360/430 section

eg https://www.ferrarichat.com/forum/threads/help-best-entry-level-ferrari-100k.625171/

 

LOTS on here about 1st Ferrari's, budgets, and due diligence. I personally think that the most important component to purchasing a Ferrari is choosing what model you like best. They all seem to have their own quirks and high points that you really need to do your research to see if you can live with them. I say this because as you will find out during your research here that the cheapest Ferrari is always the most expensive, and all Ferraris are expensive to maintain. So it makes sense that if you are going to go through the pains of ownership you should really like the car you are doing it for. Another statement you will come across often here is to buy the best car you can afford, and get a PPI. Good luck.

 

thanks alot brother


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cars get written off when the repair cost gets to around 65%-75% of the cars value. I also think theft is an automatic salvage title but not 100% sure on that fact. Either way. I've owned many prior salvage title cars including 3 ferraris. If you can verify the type of damage and that things were fixed correctly its not a huge issue down the road. The initial buy in will be much less and the resale will be much less than comparable cars but the value ratio stay the same moving forward. Prior salvage title cars trade usually 25%-30% than a similar non title issue car. Buyers are harder to find down the road but you will find one. It just takes longer.

 

You need to see what the damage was or if it was stolen recovered car. In some states the dmv won’t register a car with a salvage title. You would have to find a title company that would get you a title and then you would have to go through a DMV inspection with the car know as a 907a. From my experience with titles you would be spending a lot more money on getting a title then buy a little more expensive car with no damage. Most DMVs use what the car is valued at to determine how much the title will cost. Usually it’s 10%


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Purchased my 2006 F430 with clean title, 26,514 miles and one accident reported in 2008 in the front right corner with the first owner and I'm the 6th owner so no records or photos. Paid 78K and have put 10K miles on it including two 2,600mi road trips in a year and a half with the only issue being two cracked tail light mounting points coincidentally both on the passenger side. I have spent around $3,500 for maintenance including the 30K service. Bought it without a PPI.

It's hardly a beater with perfect paint and very little bolster wear, I think dirty carpets and some condensation in the headlights are the only imperfections. I put Llumar Platinum PPF over the entire car with the intention to drive it. After having the bumper off to install some skid guards I saw where the bumper had been repaired rather than replaced confirming the hit in the corner.

Cars with a little history like this can be a tremendous bargain if you value them as a car and not a trophy that only lives to see judges scorecards.

 

Yes as mentioned by Vito, check with your state's DMV as to the process of dealing with this car based on the title status.

Also to the title status confirm exactly what type it has. If it has a "salvage title" that means it has not been inspected yet. Here in MN I can drive around with a "salvage title" for like 2 years if its my car and the issue happened while I owned it. I have to get it inspected as mentioned previously as well to convert it to "prior salvage" or if I sell it the new owner has to have it inspected before they can register it. There is a difference between "salvage" and "prior salvage or rebuilt" titles and what you have to do as a buyer. Most of the time people use the term salvage title and really mean prior salvage but there is a difference and something you need to know up front.

I personally don't mind if a car has a history if its understandable. Again you can get it at a discount but you'll also have to expect that discount when you go to sell.

 

Stay away from Salvage. Go with the latest model you can afford.....which may well be the F430 in F1 configuration.

Watch for ball joints, cracked headers, F1 pump. None of these are deal breakers but plan on about $15K + if all of these are bad. Also, plan for a clutch replacement.

There will be cosmetic issues, but that's something you can resolve over time and shouldn't get in the way of a driver's enjoyment of the car.

Other than that they are pretty solid cars.

 

If you like the 430 and it’s your favorite.. get that model. It WILL have an issue during your ownership. Prob cost $5k to $10k. Guaranteed.

What keeps you sane is how much you will like the model. If you love the car and it gives you tinglies.. it makes the bumps more bearable. If you’re running tighter budgets… do more research on ownership. YouTube is rife with videos of men that don’t have a clue what they got into and have mechanics taking advantage of it.

If you’re going to constantly worry about it’s “value” regardless of budget.. the experience might be less rewarding… good luck.