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CHEAP ebay 2004 Spider...only $126K, salvage but CLEAN car

Discussion in '360/430' started by James in Denver, Mar 6, 2008.

  1. James in Denver

    James in Denver Formula 3

    May 23, 2006
    1,953
    Centennial Colorado
    Full Name:
    James in Denver
    Usual disclaimers, not mine, dont know owners, etc.

    Its on ebay, and the description shows that it has a salvage title, but it appears to only have been "vandalized". Someones wife may have found out about someones mistress ;). Anyway, knife cuts in several places, but no "real" damage is apparent.

    6 spped and just under 6k miles. If all the damage is just cosmetic, this would make one h*ll of a driver.

    http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=200205657571

    James in Denver
     
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  3. zippyslug31

    zippyslug31 Formula 3

    Sep 28, 2007
    2,072
    PDX
    Full Name:
    Kevin M.
    This was discussed a few weeks back. The fact that it's back on ebay and someone didn't snatch it up is quite interesting.

    I agree, you'd think it was a great deal, but they wouldn't just total the car over some cosmetic items as shown. I'm guessing the "upset wife" also let the family's great dane take a big dump down the gas filler and then let junior randomly start yanking wires under the dash.

    It's gotta have SOME other story that they aren't sharing.
     
  4. Way2Fun

    Way2Fun Karting

    Jul 6, 2007
    113
    Northern Virginia
    Full Name:
    Chris D.
    To me, it appears that ever panel/surface on the car has a scratch in it. Restoring the interior and the top alone would get into a significant amount of money and then there is the salvage title...
     
  5. jsanocki

    jsanocki Formula Junior

    Aug 30, 2006
    762
    NJ
    Why spend 126k, have to dump another 15k EASY into the car (it has to be perfect, its a Ferrari!) and then have the salvage title resale problem? For another 10k (150k) you could pick up a clean no story 360 Spider with similar miles.

    Even for a low price entry car, I would say you are better off buying a high mile Spider.... personally I would rather spend 130k and drive around in a higher miles car then buy this one and have scratches all over it!

    Be wiry on "low damage" salvage cars.... there is a reason why the insurance company totaled the car out. They aren't in the business of writing out large checks for minimal damage- There is either more there then you realize OR the cost to repair it properly is more then you realize. Yes, you could do it the cheap way, but then why even bother? Go for older/higher miles....my recommendation
     
  6. jsanocki

    jsanocki Formula Junior

    Aug 30, 2006
    762
    NJ
    Take a look at the previous auction he had running for the car (ended with no winning bid)

    http://cgi.ebay.com/ebaymotors/Ferrari-360-Vandalized-2004-360-Spider-SAVE-s_W0QQitemZ190198728461QQihZ009QQcategoryZ84156QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

    He advertises that the repairs can all be done for $7700? First off, no insurance company is writing off a Ferrari because of $7700 worth of damage. Second, if the damage was so minimal, why wouldn't he fix the car, and now have his "$190k-$200k retail 2004 Ferrari 360"...discount it 50k and STILL make more money then he is asking?
     
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  8. pascalt

    pascalt Formula Junior

    Dec 8, 2003
    277
    Switzerland
    Full Name:
    Pascal
    Yep same here, if it was only 7K it would have just fixed and sold at 'normal' prize.

    Read in a magazine that 360 front light cost like 2.5k US, is it possible? It means for me it would cost a lot more than 7k to have it perfectly fixed.
     
  9. jsanocki

    jsanocki Formula Junior

    Aug 30, 2006
    762
    NJ
    $2500 for a front light? Yeah, probably more.....
     
  10. James in Denver

    James in Denver Formula 3

    May 23, 2006
    1,953
    Centennial Colorado
    Full Name:
    James in Denver
    I'm a lowly 308 QV owner, so I cant afford it anyway.

    But, look at it this way. IF the story is true (ie. only vandalism, no other damage or previous salvage), buy it and drive the heck out of it. I've heard that spiders with the built in roll bars can run at track events. The paint damage and interior damage won't affect its speed and acceleration on the track.

    I agree, something seems a bit fishy, maybe a prior salvage title.

    But, if you get an estimate for every panel repainted (some dents repairs) AND replace the seats AND replace the dash AND replace the top from an authorized Ferrari dealer, I'd bet that would come close to totallling the car out.

    And I have a question, a 2004 spider with 6k miles can be purchased at $150? If so, then yes, its not as good of a deal, but I thought they were higher.

    James
     
  11. jsanocki

    jsanocki Formula Junior

    Aug 30, 2006
    762
    NJ
    You can pickup a clean low miles Spider for 150k or less. Might not be a 2004, but is there really a difference? I wouldn't pay more for a newer year, given same color/options/miles....

    I don't have any experience in insurance claims, but I was under the impression that 60% of the value of the car in damages deems it a total loss. I have heard from others it was as much as 75%....
     
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  13. $$$=SPEED

    $$$=SPEED F1 Veteran

    Aug 18, 2004
    5,289
    Portland, Or. USA
    Full Name:
    Depends who's asking
    If you plan to drive forever and do not car about re-sale then maybe an option. Good luck selling salvaged title car
     

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