A (not so) hypothetical situation | FerrariChat
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A (not so) hypothetical situation

Discussion in 'North & South Carolina' started by msechrest, Nov 19, 2010.

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  1. msechrest

    msechrest Rookie

    Sep 4, 2010
    24
    #1 msechrest, Nov 19, 2010
    Seeking input on this...

    Say you're looking at a 360 Spider manual. It has a few upgrades. It is a "less desirable" color (ie, not red, yellow, black, or silver). PPI says it drives well and seems mechanically sound. There are a couple of maintenance items (including timing belt) that are overdue. The cosmetic condition of the car is reportedly... well... disappointing. Scuffs and chips. Hasn't been detailed in a looong time. Missing a couple of receipts from the first owner. Recent service performed in a small private garage, apparently no ferrari tech.

    Price seems to be below market. (I say seems because I don't know what the real bid/ask spread is on these cars.) Conventional wisdom would say to walk, right? At what point does a car like this become a deal? How much would you be willing to put into a car like this after purchase to get it to "right"?
     
  2. Bertocchi

    Bertocchi Formula 3
    Consultant

    Jan 28, 2004
    2,326
    Austin, Texas
    Full Name:
    David Castelhano
    #2 Bertocchi, Nov 19, 2010
    There is something to be said for buying such a car. If it can be purchased right you can afford to have all the required work done to your own standards and will know for sure that it has been done.
    IMHO many times very low mileage cars are the most trouble. I purchased a 150 mile F40 for a client and ended up replacing just about every rubber piece afterwords. Worst part was he was afraid to drive it and depreciate the car in the process.
     
  3. marcmc8867

    marcmc8867 Formula 3

    Jul 27, 2004
    1,028
    NC
    Full Name:
    Marc M.
    #3 marcmc8867, Nov 20, 2010
    Knowing no more about the situation than you've described above I'd be inclined to walk, even if it is below market. It is an absolute buyer's market so there's no need to take on such a project unless it is significantly below market, i.e. more than $10k below, since unforseen repairs can easily reach that number. I realize manual is harder to find but patience is your friend.

    Also, I wouldn't let miles scare you either. I just hit 65k miles today in my 360 Spider and it is doing fantastic.
     
  4. ProCoach

    ProCoach F1 Veteran
    Owner

    Sep 15, 2004
    5,465
    VIR Raceway
    Full Name:
    Peter Krause
    #4 ProCoach, Nov 21, 2010
    +1. There's always another one out there...

    Marc's our poster boy for "just drive the car!" and Napolis' sig line... :D
     

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