Canadian Ferrari Value.

Every Ferrari will need service. Let's face it. These cars were built by hand and aren't perfect. They also didn't use the best parts on them either - SURPRISE. They changed suppliers multiple times, depending on who was cheaper at the time, for replacement parts so it is a gamble what comes out of the factory, even today. There is no perfect car. You just have to find one that you HOPE will hold up. But, once you do, you can't replace it.

 

Your right again Bones. Many dont look for records and hey you have remember that it was not a big deal way back then. Now it is because there are so many cars with millage rolled back. James says the the problem is as bad here as it is in the USA.....Nope it aint. In the USA they have some really dumb ass laws that vary widely from state to state. The dealers down there love to move these cars from state to state and guess what. The millage all of a sudden has changed and its very hard to track. The dealers of these cars with ghost records and millage are very smooth talkers. Most of them could sell icecubes to eskimos. When you combine the slick salesman with a guy who has had the F-car fever for years.....voila....you have a sale and in a few months to a year you have a guy with an empty wallet standing outside a service bay crying.

 

Sorry John but a PPI doesn't always save you. I had a friend that bought a car down south (Porsche 911 Turbo). He had a PPI done by a professional who came highly recommended. Guess what, the car was a lemon and not even the Tech who did the PPI could have guessed it was. Everything checked out with the computer, but it ended up blowing a Piston three months after he bought it. $18,000 later he regrets not buying another car that his friend over at PFAFF serviced since new, as it was only $10K more. But feel free to go down South and save. There are tons of guys who do. Hope you have lady luck on your side.

 

This post is not directed at any of the replies on this thread.........

I've personally brought up around 400 Porsches (and a few of F-cars) in the last 6 years from the US......and not one has had a major and unknown problem after the fact. Sure, bulbs burn out and batteries die, but no issues to speak of.

If you (1) truly know what you are doing and (2) go down there to touch, feel, smell it as well as meet the vendor and the PPI tech in addition to (3) performing the correct level of intensive due diligence beforehand along with (4) a thorough PPI from a qualified non-vested interest facility, you can buy a good car anywhere. But that takes time and money, plus you have to have the requisite experience to be able to benefit from it.

Seen plenty of cheap buyers remotely get their PPI's done sight unseen............and the cars arrive here needing $10K of work.

Someone slipped the tech $500 and the form gets checked off as everything being A-OK, while the car never even gets looked at........by franchised dealers no less.

"Bad boys, bad boys, what yah gonna do, what yah gonna do, when you screwed ?"......with my apologies to Cops. You're not going to spend $10K to start litigation in a foreign country over $10K of repairs......instead you suck it up and don't take the blame, cause it's not your fault, now, is it ?

Good things are not cheap, cheap things are not good........and no two used cars are alike.

100% correct.......

 

My guy did everything right. He even used a reputable shop and the PPI checked out. It was what he said it was, which wasn't a perfect car by the way, he just got a bad car. That could happen to anyone of us at any time. But, if you know the car and you know the owner and you know the shop who services the car and you have the history on paper - it takes most of the risk away. That's why people buy cars from people they trust. Plain and simple. I just find it hard to trust somebody that I have never met. If your in the car business then that is another matter. I'm sure you know where to get good cars and which guys to avoid in the U.S. I don't have this knowledge, nor do I have the time to go get it. BTW -what is a 5 year old Twin Turbo with 30K (18,500 Miles) worth down South?

 

What is the color combo, overall condition (the consumables, clutch, pads, rotors, tires, glass, etc), transmission and options ?

 

fair point but who in the right mind wouldn't buy a car they couldn't verify the mileage? only a idiot would and if they bought something without doing their due diligence then thats thier mistake and one they'll pay for.

Again everyones points are this COULD happen or that COULD happen, it COULD happen here just as easily as anywhere else.

Also not BONES OR 355 in particular but people always say they will LOSE when they're done with the car and go to trade it in; this is not true if a dealer gives you that as a excuse then thats a dealer you don't want to work with.
Check with the BIGGEST dealers around they don't care where the car came from as they're ALL MADE IN ITALY to them and only care about it's condition/mileage/etc.,

Seriously, one of them told me when I needed a bid on a 06-430 that it's irrelevant where the car came from; "they're all made in italy" was his answer and was only concerned with service history,paint work,mileage,owners etc.,

And those of us in this business don't even bother buying/selling a car that doesn't have service history for the most part although there are PLENTY of dealers that will tell you its not important, obviously thats someone you don't want to be dealing with.

 

Your friends situation has NOTHING to do with the cars origin, it was a lemon and was bound to have some sort of failure sooner or later. In my opinion anyone who isn't knowledgeable about cars and thinks they can do the job of a mechanic or someone with experience in buying these kinds of cars is an idiot and gets what they deserve, sad to say but true.


Bottom line, when someones buying a car out of their CITY then they need to perform their due diligence and again if you can afford the time go down and inspect the car in person and ask questions on the car,seller etc., and there will be no problem.
However if the cars checks out perfect and all of a sudden a week after it gets here something blows that has NOTHING to do with the ability of the shop performing the inspection or the country the car came from! It's a lemon and was always bound to be a headache sooner or later.

If theres a car you like and everything checks out then its' irelevant where it comes from whether it's Sweden or U.S.A, just do the best you can to protect yourself or hire someone who knows what they're doing.

Lot's of people have such negative issues with buying south and swear up and down that the cars should be left alone, if thats the case how come NO ONE has ever complained about a car i've imported for them?*
I only see thanks and praises for the money they've saved.

I usuall only buy through authourised dealers and do not participate in a sale/importation if the car is not inspected by a competent service shop.


p.s even now a day's people don't understand the importance of keeping their service history which is why I keep copies of all service history along with copies of all the bills of sale(s) etc., and ask the dealer or the client to let me know if/when they're needing/having something done so I can keep a copy cause I know most wont, this way when they call me in 1-5-20 years to sell their cars I have copies of everything adding value to their car and making it easier to sell.

AGAIN SOMEONE WHO BUYS A CAR WITH NO/LITTLE SERVICE HISTORY AND A CAR WHO'S MILEAGE CANNOT BE VERIFIED IS HEADING DOWN A LONG LONG EXPENSIVE ROAD.

Also one more thing; if you're looking to buy a "cheap" Ferrari then you're going to get what you pay for regardless of the country the car is in and you shouldn't be buying one anyways.
However if you're looking to SAVE MONEY over the sky-high prices in Canada then hire someone who knows what they're doing or ask on forums/friends etc about the seller/car/dealership and you WILL SAVE MONEY however this is not always the case on every model but most of them.

 

3 months is a long time in a car's life. An afternoon in the wrong hands can be devastating to a car. I think it is unfair to blame your friend's misfortune on where he purchased the car. It sounds like bad luck that could have happened regardless of the car's origin.

I would want alot more information about how the piston failed before I would point the finger in any direction.

 

This made me wonder. I do my own work and keep the reciepts. How do people feel about buying a car that is serviced by the owner if he is a mechanic or a do it yourselfer? I will be rebuilding my boxer powertrain this winter (for the heck of it and I cant leave well enough alone) complete with pics in a thread ill start here with better than OEM parts inside (plus a few hotrod tricks for more get-up-and-go) and I plan to make it concours in appearance. Would this have a negative impact on a potential buyer? Too bad for them if it does, im curious just the same though.

 

Good question...and one i can answer for myself and my experience.

My TR was owned from 86-91 by the 1st owner with your regular reciepts from the dealer...the second owner bought in 91 and was a Ford Mechanic no less at total ford (talk about going back in time)....he had every reciept from 91-99 until i bought it....it had 33,000kms on the clock...and i looked better and drove better than the other 5 tr's i saw which all showed 15,000-25,000kms ...and missing reciepts.

For me, i found comfort in buying from me as he had no issues bringing hte car to my cousin (who is a mechanic) and anyone else that i wanted. He was very candid...told me i had to do the major and clutch as it was time...he was honest and said he couldn't afford the car anymore as his family was growing, and had to go.

Fast forward 10 yrs later, and here i am at 60,000 kms with the same and feel great about it. I read all these blown diff stories...and melted boxes on TRs, yet i have not experienced it...but then again, im an anal owner...but most long term owners are if they keep the car.

So, to answer your question....i think a DIY that shows the buyer the actually PARTS they purchased, (Not Similar parts) but actual ferrari correct parts...it might be an actual bonus.

just my .1

 

Well here's one for ya! I bought one 355 for 55k with 3 inches thick of records and pristine collector quality cosmetics yet needed a major 2yrs ago. The car was trading at over 100k canadian at the time. Ran into a crook for service and got taken for the 45k as dislosed here. Bought a rough 355 7mos. after the service with no records and drove it all summer with no problems, runs strong, sounds great etc this is my summer daily driver. I've seen almost totally wrecked f-cars on ebay with a clean title/carfax. The only way to verify is to fly to the states and inspect your car yourself. The canadian cars are minimum 30% overpriced. There are lots of great U.S. cars, you just need to seek them out and go in person to check them out. $65k canadian for a 348 PLEASE...

 

If i was looking at buying a newer Ferrari model i would prefer it to be a Canadian car for future trade-in or resale ease , but if i was looking for a classic i wouldn't care what part of the world it came from, and would prefer it not to be Canadian or US spec like the F40.

 

Tell me about "it is going to need something done to it every year" so far this past year i have 1/4" of receipts for parts alone to make the car as perfect as possible I now have Ricambi,Trutlands and FoO parts department on speed dial thank god for calling cards, next tires,wheel centre caps and rim cleaning or refinishing.

 

Well, the marketplace has told me that if it is a mechanic who works on the same stuff for a living, it doesn't matter, but if it is a dentist/engineer/restauranteur/pilot/etc doing it at night on his own car, they won't touch it with a 10' pole.

I certainly would not myself.

 

You know what they always say; if you want the job done right - do it yourself. New and perhaps better parts can't be a negative especially when they can't be seen. It isn't like an aftermarket turbo kit that kills resale value for someone who wants a 'stock' car. Perhaps lighter pistons with a different ring combination and lighter-stronger connecting rods would actually help the longevity of the engine. Less weight without sacrificing strength is always a good thing for the internals. Maybe a bit more airflow for the heads and a valve job including lighter valves? If the visuals look the same you will have a nice sleeper. Less cam is better than too much.
Will look forward to seeing your pictured progress!
CH

 

What is the deal with importing a Gallardo these days?

It was previously impossible. I think it IS possible now, but I dont know which modifications are required and who is required to complete those.

Not looking to do it right now. Im exploring the potential of doing it next summer. Turning 40! Something's gotta give!

Thanks to all in advance!

 

it's possible and will be bringing a Lambo up for someone between now and spring depending on when we find the right car.

 

Good day Kds,

It is disappointing that one would make such a generic statement. There are people who can have skills that are significantly better than an average mechanic. Granted there are also DIYers with very poor mechanic skills, but remember that there are also licensed mechanics (even F-car ones) that do sub-standard work too. Only a thorough PPI and some level of investigation ( review of work, history, receipts, reputation, etc) can reduce the probability of a bad car. However, "to each his own".

Cheers,

Sam

 

Lots of good information in this thread! Thanks to everyone who has contributed.

 

Sam.......

It is not a generic statement........it is what the marketplace has told me over the last 2 decades.

Perception counts for everything when you are selling something..........and the more you alter the perception, the lower are your chances of a succesfull sale. I didn't say that the person performing the work wasn't any good at it, and they very well may be, but the vast majority of the marketplace doesn't think that is the case and is not willing to take the chance. If DIY work was overhwelmingly acceptable, who'd care about service records ?

So, you gotta live with the perception, whether or not you think that it is right or wrong. Salmon only swim upstream once, and you might have to relist your car more than that.

 

With cars 20 years old and more, like mine, I would think a committed owner with parts invoices would be as good or better than a mechanic serviced car, obviously depending on the mechanic, but even then a good owner does many small things that even a good mechanic might not do due to time and practical economic constraints eg. tighten hose clamps and retorque misc. bolts, replace old hoses, meticulously clean and deoxit electrical connections, prevenatively replace things like coils, sensors, relays because with free labour one can spend more on parts, clean and grease wheel bearing even though a brake job is not otherwise necessary, preventatively clean blow by system, check valves, etc. No doubt mechanics doing cam seals, valve adjusments, etc. has higher credibility, but many F car reliability issues are electrical or prevenative maintenance based. The market speaks, and dealer maintained would win, then expert maintained and then handyman with invoices. But the actual quality of car might be the reverse, with the handyman also probably less prone to abusing the car.

 

Alot of sellers are REFUSING to deal with the marketplace reality both in the US and Canada. There is Scuderia's that have been sitting in US dealers with 285-300k price tags while actual bidding has not even surpassed 200k. Ferrari of Quebec has one for 340k last time I checked. They just believe the demand will magically return. No one is willing to take these massive losses.

The reason Canadian cars are so mispriced is the exchange rate in the 90's and early 2000's was around 1.45-1.60. Alot of people are ignoring(Ferrari of Ontario) the fact that we are close to 1:1 and will probably stay at this level for awhile into the future.

The fact is you can post a ridiculous asking price for your vehicle but it will simply NOT sell. 911 GT2s with 300-400miles on them are being bid up to 120k. Scuderia's 180k. The US savings for high end cars are extreme in some cases.

 

SO TRUE! But don't think Canadian's are any better.

 

From personal experience, a USA car compared to a Canadian car, well guys its the same car!
The difference is there is sooooooo much more choice and availabiliy in the US compared to Canada. For example, try looking look for a Countach in Canada as compared to looking for one in the US. Suppy and demand - thats the reason for the price difference.

A 355 in Canada compared to a 355 in the US - is still a 355. IF you can get a car, with the options and color combination that you like (imagine that), AND get it for 30% less + a little compliance hassle, why not go for it?

The price of 348s, 355s, 360s, Gallardos, etc... have come down in the US so much. I say in this economic climate, its the only way to go.

If things continue, people will be able to afford 2 exotics for the price of one 2 years ago. Guys........ that's not a bad thing.