Attn: 550 owners who drive their cars often..

Good read.

Interesting that the subject 550 also had a valve-guide problem. The more you dig, the more you find the modern V12s have the same valve guide issues as the 355 (I know, my 456 is in the shop for just this problem...)

 

http://ferrarichat.com/forum/showthread.php?t=127537&highlight=sheehan

 

Hmm, he seems to encourage buying low mileage examples...
I believe this article was discussed earlier, but I can't remember where. I think this stands out because it is far more the exception rather than the rule. The 550's seem to be the most reliable Ferrari since the 308 and 328. There's people here that will comment about their trouble free experience. Also, the only underlying thought this read gives to is to buy a car with a warranty.

 

Yeah, I remember the ad for that car on his website. It read something like, "Great example, fully serviced........" He wasn't kidding!

 

I dont know but my take on that article is that.. it sounds like the service put the guy on their lap changing things left and right.. I guess to own a F for a resonable cost.. owner must search for better parts deals.. the first owner did not sound like that type..

 

I am considering a low mileage (under 5k miles) 575. Wonder if it will be as much trouble as it ages. I don't even mind the expense, but I hate the hassle of leaving the car at the shop and worry about it being damaged during so many visits. Does anyone have 15-20K miles on their 575 - what has been you experience?

 

Good read. Do you other 550/575 guys really replace shocks and bushings that often?

 

cobmw..54,000 miles on an '02 575..cam drive bearing and half-shafts during first 10k a few minor issues since then.

 

I bought a 2001 550 in Feburary of this year with 7,100 miles. A week later the dash light came on regarding a shock. The dealer had to replace one shock, covered under the "Power Warrenty". In looking through the records I saw where one or two shocks were replaced before I got the car.

I now have about 10,000 miles. The car has been "Bullet Proof", trouble free, exciting, beautiful, dependable, incredible, show stopping, head turning, runningist SOB you could ever wish for! WOW what a car!
Woody Byrd

 

My 550 went in for service on 11 October. It will finally return on Thursday 14 December.

It has had:
Fixed split pipe in Aircon;
Replace leaking seals in front Shocks; (1/2 paid by warranty)
Replace exhaust manifold gasket;
New Limited slip Diff.(Under warranty)
New Battery (and trickle charger added).

Total cost about $2400 (at $2/£1), and I have every main dealer invoice from the day it was built and have driven it 7000 miles (in the 10 months it hasn't been at the garage!).

The problems aren't big, but the bills are!

 

After 2 years & 14,000 miles, that pretty much sums up my experiece too.

Remember, MS likes to be provocative sometimes....and I bought mine from him!

James

 

Good information on the 550's. I think they can in the service cost but Michael's overall infomation is correct-they are not cheap to own. The challege is that the warranties are poor and service costs are high because everyone thinks they are difficult to work on.

It really tends to be the parts that are expensive and hard to get but this story is very amazing..I looked into buying this particualr blue 550 because it had all of the items completed and took its hit from a depreciation perspective. The 2nd owner spent a great deal of money on the options and really sent the cost per mile up. Most set aside $1500 a year for general maintaince.

I just did the major and a tubi on mine with in the 1st few weeks of owning it. I knew I would do this and purchased the car a bit lower from the dealer knowing that the 30K had not been completed(99 car with 20K miles).

The major set me be $4200, add the tubi and that another $3300 which total $7500. Also another $1K in little items here and there. I have put 3.5K miles on the car in that last 2 months with out any issues. I will have the oil changed and keep driving it daily. If you stay on top of the service they are very solid.

I am not sure I buy into the valve guid issue as a common problem. I have not heard that from anyone even guys with 45-65K miles on their 550's

 

I drive my car every week. It is a 2000. I bought it a little over 2 years ago with a new power 2 warranty. During the first 18 months the service bills ran up to over 15K due to engine check lights that kept coming on. Luckily the warranty covered all except for about 2K of them. They very really solved the problem but we replaces all the 02 sensors along with checking everything that might have contributed to the check light coming on. Then new tires (2K).
Three months after warranty expired I just replaced one shock actuator ($1,000), and two weeks later (last week) I just put a new alternator and battery in it (2K), and now they twll me a need a new comrpessor (3K). The car had 8K miles when I bought it and now I have 19K miles on it.
I would say that is a very expensive car to fix but it is a blast to drive when it runs.
I now have a new post here on my options to fix the leaking compressor, any ideas?
Gary

 

I have a 99 550 and for me it's been the best Ferrari I have owned (having had 6 others in various times of life) It's pretty bullet proof, but it's not a Toyota.. the front struts had to be replaced and I was suprised about that, it was expensive...I did the rotors and pads at the same time, and I put in over 5K for that. I had some electronic issues that was 1-2K to fix. I had the 30K done @ 22K miles and all the hoses changed,etc.... That being said, it has been worth it to me as I do keep up with the maintenance, and drive it regularly. I enjoy the car so much I forget about the cost cause I am usually smililng when I'm driving it, and somethings you can't put a price on.. for everything else there is mastercard!!! The 550 is a great car in IMHO, the only thing better will probably be the 599!

 

I think most 550 owners would say that it's a relatively expensive car to maintain- but it was expensive to buy!.....at least when it was new. A newbie who picks one up for the price of a new Porsche and expects about the same level of trouble/money in maintenance, etc will probably be in for a shock.

Right now I'm looking at my meticulously maintained 550- and it's showing an antifreeze leak in the front and a trickle of gas at the back....not good! So back it goes to NJB (an independent Ferrari place) next Monday. The transport alone will probably be 300 and then, who knows?

Meanwhile, my 22 yr old Porsche 928 is sitting in the same garage with its original exhaust system, etc with 200,000 miles on it and ready to drive tomorrow. No new actuators, motor mounts, oil sensor....the list goes on. It's a brick...but it's not a Ferrari.

I think my average yearly costs on the F-car have been at least $3000- and from what I hear talking with other owners, that seems to be closer to the rule rather than the exception.

It's still a blast to drive.....

 

Truth is, the more you drive it the lower the cost per mile!

One of the reason Sheehan's car had such a high cost per mile, in addition to the fact that a number of upgrades were included in that figure, was that the guy hardly drove it at all! So of course the cost per MILE was high.

 

I've owned my '97 550 since new. It now has 38,000 miles on the odometer, mostly open-road, long distance driving miles. This car has been far cheaper (less than half the cost) to maintain than any of my previous Ferrari 12s. Here is a summary of the repair work I've had done (this is in addition to oil changes every 5,000 miles, annual brake and coolant flush and generally fixing any little thing before it becomes a big problem):

All factory recall actions have been performed (although I never experienced any of the problems these recalls were intended to fix).
23,200 mi: Replaced front suspension bushings.
28,000 mi: Major service with new cam-drive belts, water pump, belts, hoses, etc. . Old cam belts still looked perfect.
30,700 mi: New battery. The original battery was still working perfectly! I changed it anyway before a long trip.
32,500 mi: Contacts on all shockabsorber wiring cleaned -- the diagnostic light hasn't come on since.
34,600 mi: New water pump seal. The new one installed at the 28,000 mi major service didn't last long. Will have to keep on eye on this one to see if anything else is at fault. So far so good.

 

A ferrari is really fun, it is just not cheap. You get what you pay for, you never get what you don't pay for.

 

I bought my 2003 575 new, ran 20 wt. Mobil 1 oil in it. Bought new tires at about 6,000 miles and otherwise did nothing but fluid changes. There were no visits to the Ferrari shop. After 3 years and over 8,000 miles on the clock it was traded in on my Enzo. The 575 was the most reliable car I ever owned.


aehaas

 

All I can add Kenny, is I bought a really low miles 550 and it was by far the most expensive of all the italian cars I have owned. My advice is to find a well serviced car that has also been well used. Just like many have said, Ferraris love to be driven and when they sit around, that where all the "Ferraris cost sooo much to maintain....." come from.

 

I sold my car with 38,00kms on it with most of that being super hard flat out driving in China. I had no serious problems. Maintenance costs acceptable.

 

Try to get this straight. You won't, so fine. These cars were meant to be driven. Do that! Please stop whining. If you cannot afford the cost, buy a Ford. I have had a Lusso, a 360, and now, a 575M. The Lusso was the most expensive car to maintain. I program at least $2,000 per year on upkeep. If I don't need it I forward it to next year. I'm not wealthy. I pay for my pleasure. If I can't, I don't. Just enjoy, or get rid of the cost. For Alec Baldwin's sake, get used to it.