1998 550 with new engine - buy or no?

I'll give you my personal opinion on this:

This will definitely affect resale value (negatively). This means you will pay less for it now, and get less for it later (so it's a two way street). Another side effect, besides just the money, is that it will likely take a longer period of time to sell (perhaps MUCH longer).

SO..... If this is a car that you will keep one year (or even two), I would not buy a car with "stories". However, if you know you will keep this car a long time, and you are certain the work was done correctly (which it sounds like it was), then this is the PERFECT car for you. You will pay less, you get a brand new engine, and you don't have to worry about putting a lot of miles on it, as you are not "molesting a perfect car".

So, if the car is a short term toy -- Run away. If it a long term car, JUMP ON IT.

 

I would agree with Andy for the most part, but if the deal is right and you want to keep it for awhile, it could be a great deal. One major question I would have is if the former owner abused the car enough to burn out an engine at 15k what kind of shape is the tranny, susp etc. The 550 engine is very strong so that should tell you something. Have a ppi done independently and get clear about what you are getting into.What are the other details about the car?

 

got your PM lstrauss.

excellent point.

i completely concur with the advice presented here. you haven't shared any particulars, so evaluating the deal is outside our capability. if the car is priced at $72K, then it's a no brainer. if it's $5K under market, skip it and get a no-stories car. in addition to a PPI, get them to throw in some warranty stuff (though 98 might be too old for the bumper-to-bumper jobbie).

doody.

 

If the engine broke because of a lack of oil, than all the other parts should be just fine.

 

maybe true, but i think they were getting at the fact that the engine was abused and not really cared for, has the rest of the car had the same level of neglect? are the brakes shoddy? is the transmission worn? is the suspension on its last legs? etc etc etc

 

Unless the seller disclosed the replacement of the engine, how one will know it is replaced engine?

 

You would know because the numbers would not match (this assumes the buyer is careful and checks). A PPI by a qualified mechanic would definitely pick this up.

 

A fellow Fchatter here in the EC section had a situation with his 550 where an oil leak (due to road debris) cause major engine failure and as a result he also had to replace the engine in his 550. He takes excellent care of his F-car and after having driven in it only a few weeks ago, I can attest to it's stellar condition. This could be a similiar situation and if so I would jump all over the opportunity if the money is right on it. Just my .02...

 

Doody is right on the money. Maranellos are not scarce cars. There are probably over 100 550s for sale in the US right now. With this many cars on the market, a buyer should be able to pick and choose. Any car with stories will need a discount.

BTW, I was just told that FNA has just extended the bumper-to-bumper warranty to cover cars up to 10 years old. It used to be 6 years.

Dale

 

Dale -
the FNA warranty only applies to cars being sold by authorized Fcar dealers, right?
not PO's or non-auth. dlrs......?

thx
james

 

Yes, I believe that you are correct.

 

Early 550's had a problem with the oil filter that could cause it to blow apart and lose all engine oil in a heartbeat. I suspect this is what happened. I doubt it was due to abuse. FSF is a factory store. If you're planning to keep it for a while and the price is right this car is a good idea.