I am currently in the learning curve 12-18 months before my first F-car acquisition which will be a Testarossa. This board has provided invaluable information in helping me formulate my decision. Hopefully, I will be able to repay the free advice I have gleaned from those of you here in the technical section who have indirectly contributed to my knowledge bank......and hopefully that repayment will not involve a transaxle or engine rebuild....heh. It's time for my first query as I am getting to the point where I will start to assess cars being offered for sale. I am of the position that it is in my best financial interests to buy a TR with mileage between 20-60K miles for the lowest price and in the best "cosmetic" condition that I can find. I am prepared to spend money in the shop to sort the car.....thousands in fact. My reserve fund will equal 35-50% of the purchase price. Why ??? 1-They will continue to depreciate somewhat. I figure 10-20% over the next 3 years. 2-The costs of major repairs (engine,transaxle, etc) will set you back tens of thousands regardless if your car is a 1,000 miler or a 60,000 miler. It costs the same............These are old cars...........Secondly, my Porsche ownership experience and 16 years of selling stuff like this leads me to believe garage queens are too much trouble at the end of the day. 3-Given the state of TR speedo's and the ease of fudging mileage I have serious doubts about these cars real accumulated mileage even with records. 4-I plan to drive the car every day except in winter if possible. 5-I am not terribly worried about resale........a TR in 5 years from now with 60-100K is worth what......$20-25K USD ??? Fully sorted and reconditioned I'd be crazy to sell it for that kind of money. 6-The repairs "you" have done versus those done by someone else are always better in the long run because you know what was really done and how it was done. Tell me what your thoughts are in this regard..........I find the garage queen debate versus the drivers interesting......but on the technical forum I think I'll find more answers related to this issue from people who have "been there done that". Thank you for any and all replies.
Well, I have an 86TR. I drive it - not every day, but on a regular basis, and the only real mechanical issues have resulted from NOT driving her (fuel pumps), but I do NOT beat her. 40k+ miles. I did redo the interior myself and it's pretty darn good. >5-I am not worried about resale........a TR in 5 years from now with 60-100K is worth what......$25K-30K USD ??? Fully sorted and reconditioned I'd be crazy to sell it for that kind of money. I agree with you - I'd never sell mine for that kind of pocket change. It can just live with me. My only other advice is to know what type of wheels that you want; single lug or not, metric or not. - I have single lug metric & have problems getting rubber on a regular basis. I'd still like to find a set of singe lug 16" TR wheels for her, but I do like the single lug now that I'm ahead of the curve on them. I think that the TR epitomizes timeless beauty... and it will break necks when you cruise!
I would buy one with higher miles, and a proper PPI. This way, all the mechanical things have been sorted out. You will pay the least amount, loose the least at re-sale time, and will enjoy it the most. I think that you could buy one now, for about $45-$50K US, depending on service. Get one with a recent major service, and pay the 50. While some people think that they will be worth $25K, in time, I don't........unless it is all rusted out, etc. I would never sell mine for that, even if it had over 100K miles. As far as the way over-priced garage queens...........hell, let a museum buy it!!!!!!!!!!!!
I just don't see how they can go any lower. Any real decrease in price, and I do believe it would be worth it to start buying them to part out. Not long ago, I saw a rolling chassis from a theft recovery TR on Ebay that went for over 15k, with no roof, glass, or wheels, and everything that could be removed from the engine was gone. Not to mention the chassis was torched in several places to get the stuff off quickly. Again, I'd never sell my TR for change. I may never sell it, period!
I bought an 86 TR last year for the very reason you are thinking of buying one now. The prices are very low now and the cars are still fairly modern. I've had to spend a few bucks on maintenance and I've added a few goodies here and there but all in all I'm very pleased with my first Ferrari. It does turn heads and it is a blast to drive. I have been putting about 800 miles a month on my car so I'm definitley driving it quite a bit. It took me about 18 months to locate a car and lock in on a deal. I looked at 348's, 355's and 456's before deciding on the TR. My next car will be a 355 spider. I still can't believe that I own a Ferrari, every time I go to the garage I am shocked when I see it sitting there. Amazing machines.
Kds, Like you, I am now looking for the right TR (89 - 90). I just sold my 99 Lambo SV, which was the most expensive car to maintain I have ever had the misfortune to own. I agree that a "G-Queen" is not the way to go. I am looking for a car with at least 18 to 30k miles on it. As far as belts and any other routine issues, I expect to pay for that myself. As we all know, any car that one buys used needs to be sorted out by the new owner regardless of what any PPI says. The advantage we have now, is that the TR market is so depressed, and so many are available, you can virtually pick and choose a car with all the options you would normally only get if you were order it new. My 2 cents. WilliamR
Thank you for the answers so far......and on that note.....I may move up my window of acquisition to 12 months as most of you have the same train of thought..... Any more comments would be appreciated.
I agree with most on the brd. I do not think they will go lower, if they do I would love to buy a parts car. My 86 has 50k and drives just as strong as it did yrs ago when I bought it. As for many on the market, i do not see many for sale as yrs past. Drive her, keep her and enjoy her. Let the next owner worry about the depreciation !!
My 9 year old daughter will have to deal with the depreciation when she sells my "Isabella" in the year 2024.
