Buying my First Ferrari.

Search feature should be your friend

Insurance approx $1k per year

Annually fluid change is usually it. Except when major service is do. Which is about$3.5k

 

Search please

No offense. I know you're new and all but you are the 10 millionth person to ask this exact same question. It's like asking "how long is a rope"?

 

Good luck in your search. It is a lot harder, time consuming and frustrating than you think...

That price range is too low for a Spider unless it is super high mileage or has been in an accident, etc. Coupe is realistic though.

Besides the annual service (not exactly cheap), there are belt jobs that are several thousand dollars every 3 calendar years, and the clutch I've been told has about a 15,000 mile life and replacing it can be like $5-7k from what I've been quoted.

If the car you seek is F1, ask them what % of clutch life is remaining (any reputable seller will know). Manual transmissions cannot be tested. Ask when (date not miles) the last belt job was done.

 

Have you read the buying guide at the top of this section - its a good place to start then do a search on outstanding queries as noted by others - then do ask any questions which remain

 

Everything previously stated as far as numbers go with regards to maintenance I agree, other than I don't think the numbers you're looking to spend are realistic. I think once you start seriously shopping you WILL crack six digits with regards to purchasing something reliable especially a spider. Good Luck Bro.·········sip

Sent from my SCH-I800 using Tapatalk

 

A few items.

Try to go for a 2002+, as most of those would have gone through the "recalls" that were done such as the variator and such.

Whatever you do, get a PPI done by a person/company that know these cars. Every car has its own unique flaws of a sort. To some (a F-car person that know the car) it may be perfectly normal, to someone else they may give you a false reading.

Find out about any of the major tune-up items, especially when the last timing belt service was done (and you need to see the paperwork), along with clutch wear. Many have noted that although you may get something like lets-say a 50% wear, its not all equal and the wear is faster on the last 50%. (give or take)

Take some good pics of the car, highres, and look at them. The camera pics up things that the human eye may not. Open every movable item (door, trunks...etc), check everywhere for any signs of repair or removal. Do not get yourself into a "stories" car.

CarFax.........well...... its only 1/2 the story. You may get a clean CarFax but that does not mean a repair was reported. Again, take the time over and over to look at the car.

If it is an F1 car, see if the F1 pump has been replaced. You will find many threads on the forum related to the POS pump and relays used on these cars (accept for the 360 CS). That is an expensive fix.

Make sure you get on RED master key and the two BLACK driver keys. The RED master is matched to the ECUs in the car, without it.........well just walk away.

Insurance will definately depend on your age, driving record and location and will vary quite a bit.

Bottom line is....... take the time....DO NOT jump into something w/o really investigating the car properly. The last thing you do not want (nor anyone) is to have something break and come up with ~4-5K for a fix.

Have fun on the search and enjoy!

 

Nonsense : there's a million things more important - if you're that worried you can get a clone or even a complete new set for very little money

 

My understanding is that the RED master key only works with the ECUs in the car and that you can not get another made to match. (Had a friend with a 360, the RED master was missing and they replaced the two ECUs with new keys here locally). At least that is what I had understood. The BLACK keys are not the issue, its the RED master used for programming must match.

 

I just recently bought my first F car so I know how you're feeling, (it's a 2002 360 F1 spider). Here's the process I used.

Read the buying thread first, http://www.ferrarichat.com/forum/showthread.php?t=191837

Then go to autotrader (or other on-line service) and search all cars in your country (yes, the entire country). Print out every add with Carfax reports where possible.

Create a spreadsheet on your computer that show all of the important stuff like year, price, colors, miles, carafax available, date of last belt service, clutch life, books and records available, keys and fobs available (very important to get the red one), car cover, upgrades or mods (challenge grill front and rear, shields, mod wheels, stereo, exhaust, computer/program upgrades, etc.) tire life, clear bra, distance from you, etc. Some of the items are not as expensive as others, but it will imply how well the car was taken care of by previous owner(s).

Sort based on ones in your price range and then start calling people. Ask lot's of questions. Soon you'll know what to ask.

A couple of other things to remember.
Cars with very low miles may not be the best thing (based on your price range you stated). You want something with about 2-3K/yr. That way you know it's been driven some and not set for long periods of time (which can be hard on things). Higher milage is OK as long as it's been taken care of along the way.

Contact the repair shops closest to you and make sure they have experience with F cars. Ask them what to look for and what they expect your annual expenses will run.

Get a PPI (Pre-Purchase-Inspection)! It's worth the money.

Have 10% of the purchase price available for surprises or unforeseen costs.

2002 year or newer will have many of the 360 model's design bugs worked out, however older ones are OK if they've been upgraded.

Contact your insurance company and get some 'ballpark' estimates. Cross-check with other companies.

Don't forget sales and property tax costs.

Don't get too attached to any one car at first. There's a fair amount on the market (89 when I researched).

Take everything I say here with 'a grain of salt' (as I'm still learning), and there are a lot of people on this forum with a wealth of knowledge and experience who can help.

Don't get frustrated or overwhelmed. You will love the car. The first ride home is incredible!

Guys, what have I left out?

 

i just bought my spyder in may so i can tell you from exp. Always expect the worst like with anything else in life. Maybe the avg case might be 2-3k a yr but if something goes wrong and it always does with these cars....it can be alot more. Also avg 2-3k maintenace cars are prob not being driven that much. I have put on 5k since may i put in about 9-10k in maintenance alone....If you want everything to be in tip top shape and not just the basics to get by its going to cost alot more then the avg they are talking about here. Keep in mind that I also had a PPI done on the car before i bought it. PPI is just preliminary not insurance...something can always go wrong after the PPI is done as well. Also expect that you are going to get pulled over alot more and have more tickets as well as fines and lawyer expenses... esp if you are younger. Again always expect the worst. By the way I'm 33 and have a fairly decent record but my insurance on the F car is 2400 yr. So its diff for each case..but with a car like this even tho you might be buying a 80k car the maintenance is still that of a 250k one.......I am not even going to go into the lifestyle expenses that come along with having a ferrari. There is no way that you will keep your lifestyle the same if you have that car so take that into consideration as well. Hope this helps because this is straight as i can say it.

 

make this a thread for everyone who ask this question

 

Bought my baby end of September (99 coupe)

Did not set eyes on the car prior to it's arrival on my doorstep. First drive in a ferrari was my driving off the car transport.

1) Get a PPI done. My limited PPI showed (mostly) everything wrong with the car. Nothing major so I bought it on this recommendation alone. (Murray Bacchus in Ft. Lauderdale: Great guy! )

2) There were somethings that were missed. AND THERE WILL BE. Coils and plugs changed and minor starting issue I worked out with my mechanic. about 1200 bucks to get running perfect.

3) See post above. Have a mechanic that will do work for you. (That is hopefully more affordable than the stealership) Involve them in your quest as well.. they are a great resource.

4) Just anticipate a new battery when you get the car. (New interstate @$120)

5) My insurance is about $95 a month (Allstate)

6) It's just a car in the end.. but a fantastic emotional experience.

 

I had mine since may put 8000 miles on it only done oil change three times and coil packthree times
Mi insurance for 44 yr in NJ


lifestyle only changes if you want it to.
.
I'm still a truck driver whose daily driver mi kids say Fred Flinstone would be embarrassed to drive

And this is mi second Ferrari in as many years

 

Go buy a Porsche

 

Why, Porsche does not compare ...

Get real or go to Rennlist

 

My suggestion -- as in have no idea where you live (hint) -- is to find a mechanic you trust and like before you purchase. The first time it breaks and you find out you have to have it towed 200 miles to be serviced OR the first time it breaks and you see a multi-thousand dollar bill OR you find out you have to wait months to get it back is a little too late.

My suggestion if you're a first time buyer is also to look at an authorized dealer before you look on eBay or craigslist. You may pay a little more but you may also have a little more confidence in what you're buying. You can always say no. I wouldn't be frightened of them. And, despite what you hear sometimes, a lot of us like dealership service. Service records, condition and mileage are the three biggest things in keeping the car's value.

The other suggestions above are also very relevant. I'm just adding two more points in addition to them if you are a first time buyer.

My last suggestion is don't only look at price in your decision making process. This is not a game to see who bought the cheapest car out there. It's finding the right car that makes you happy. Don't let a few grand get in the way of getting what you really want.

 

All good advice so far. I have nothing to add other than your price point may have to be raised a bit in order to find a good car with the options, color, etc you want. Don't let a few thousand stop you. Also budget for maintenance as well. Good luck.

 

We are really talking about the romote control fobs here, not the actual keys, right??

 

More bad information on remotes, as usual. The cars come with a red remote fob and two black remote fobs. After the initial programming of the Alarm ECU to accept the matched set of three remote fobs, done at the factory, there is no, read no, functional difference between a red fob and a black fob. The red fob has the Alarm PIN, which is never used again after initial programming. You cannot use the red master fob to program the Alarm ECU to accept new black fobs.

Taz
Terry Phillips

 

just got a flat replacing all 4 tires ......1600
mounting and balancing prob about 100-150
alignment at ferrari 350.

add another 2g to my tab for this yr.

This is what i mean by unexpected things add up. i wasn't planning to replace the tires until spring. Don't ever beleive someone that tells you that they are maintaining and DRIVING this vehicle at 2-3k a yr. It prob means they are not out there enjoying their f car. I estimate the cost of ownership at 1.5-2 dollars a mile minimum. Again you are still paying to maintain a 200K+ car.

 

So you have to spend 400 bucks a tire? Even though most of us never approach the speeds its warranted? 350 Dollars for an Alignment at a F-Dealer? There isn't an independent tech that can be trusted?

I'll know my costs better this time next year but if you're spending top dollar for everything (read: Dealership) I'm not surprised that operating costs are astronomical. Last I priced things a seat of tires with mounting and balancing is about 700 - 800 bucks. That's @ what I expect to spend this spring...

 

normally i don't go to f dealer to do all this i have an independent tech but he doesn't have the 4 wheel alignment machine. Also talked to a friend who knows about cars and he also recommended that i take the car straight to the dealer and pay premium cause they know what they are doing and they'll do it right the first time. When i first got the car i tried to cut corners to cut some costs but eventually you have to do it twice which ends up costing even more. With regards to alignment ferrari is very particular and its def recommended you do at the dealership. My friend who has an audi also does it at the audi dealership cause he tried cutting costs and doing it at a local guy for cheap he said he had to do it 3x. ended up costing more. With a car like this i think peace of mind is the best thing to have. Plus a real alignment takes at least 1-2 hrs to do. Ferrari quoted 3 hrs to do the 4 wheel alignment. I hope this helps you in the future.....p.s. i was shocked by the 350 alignment too but gotta do what you gotta do to maintain this car.

 

I agree with you given the experiences you've had.

We have no F-dealership here and I have an honest, reasonable independent that I trust implicitly. That and I do work on my car myself (It's just like a patient). For this reason, I may have lower costs than most.

I just get "sassy" when owners take the expensive route then peddle that as the only way. There are many ways to skin a cat.. a lesson I learned with my P-cars. Apologies if my post read hostile.