Considering 550 purchase, thoughts...

Welcome to FerrariChat, DRG13. The 550 is a fine choice for a first Ferrari. And I felt the same way you did today when I test drove #115816 last November. It's a neat car and I've driven it regularly over the past six months. The 550 enjoys regular use.

My Maranello was tracked several times by its previous owner. I'll do the same this Sunday at Pocono.

Good luck in your search!

Barry
Image Unavailable, Please Login
Image Unavailable, Please Login

 

After you have had it a while you will smile when you remember your nervousness. They are different than Porsches. I was driving mine earlier today and the grins it gives me are great. I could forgive it anything.

They represent such a huge value today it is staggering IMO.


The parking brake is a little bit of a pain. Your fingernails will scratch the leather if you are not careful. If you are carefull then the valet will do it. Also, sometimes when operating it you will hit the seat adjustments. Like I said though. I can forgive it.

You are going to LOVE Ferrari ownership!!

Pick a nice one. Good Luck.

 

Don't necessarily buy the first one you drive. Try to drive as many as you can, and get a feel for what a 550 that has been taken care of and is in good shape feels like. That being said, don't let a good one get away. Have fun, they are a blast. And coming from a Porsche owner as well, do not neglect your German friend just because you buy a new car. She will miss you

 

You know you will get biased advice, here, right?

Regarding reliability: I bought my 550 1 year ago yesterday, and I've done almost 10,000 miles in that time. She's seen some serious cross-continent and mountain driving and nudged 185mph on the last trip. Steady as a rock at that speed, BTW. And what TLC has she needed? Here is the extensive list:

1. 3 litres of oil
2. Light bulb for the clock
3. Re-adjustment of the window to ensure it properly closes (3x)
4. Respraying for scrapes (was actually part of the sale)
5. A new rubber protection guard on the front valance
6. Re-glueing of the rear shelf carpet

Those are the sorts of things that go wrong on 550's: it's generally the interior. The car design itself is pretty much bomb proof.

The truly magical thing about this car has been how that engine has just run sweet, sweet, sweetly. She just purrs.

As for running costs: she has not disappointed me, and actually surprised me with such things as the longevity of the rear tires. Despite laying rubber on the street regularly, mine are still in good condition and were not new when I purchased the car 10,000 miles ago. Nonetheless - this is NOT a cheap car to run. And she likes a drink.

Hope this helps. Don't forget to post pics when you make the jump!


Onno

 

Welcome to FerrariChat. There have been dozens of 550 buyer, major service, issue (few) threads, so search and enjoy!

A recent 550 hunter thread: http://ferrarichat.com/forum/showthread.php?t=200016

Sold my 550 last December and it is sorely missed.

 

Well..............in all honesty, you may need to do a US tour to find the right one. I know I flew to Fl. three times, Chicago, Washington, well you get the picture. It really is a national market. Sounds like you may have lucked out.

 

I don't own a 550 but I like them a lot and you get a lot of car for the money now.

 

I had forgotten just how refined the power delivery is.

Shift from 2nd to 4th is easy If you are feeling lazy there really is no need for 3rd.

 

Great car and alot of car for the money. I would make sure that the car is in excellent condition, especially mechanically.

 

I don't own a 550 (not yet) but I do own a 2006 430 and owned a 2001 360 Modena and 1988 328 GTS before the 430. I was so afraid of buying my first Ferrari, it was unbelievable. I really thought I was going to spend $10k - $20k a year on maintenance. Turns out, I've owned some sort of Ferrari for the past 8 years and have had incredible luck on unscheduled maintenance costs.

My 1988 328 was perfect and stayed trouble-free for 2.5 years. My 2001 360 was perfect and stayed perfect for almost 3 years. My 2006 430 I bought new and so far, knock on wood, is still trouble-free with 3200 miles on it. Literally, they have been as reliable as new Lexus or Toyota sedans. Maybe I've been extra lucky. YMMV.

Just buy one after a real expert has done a detailed PPI and everything has been brought up to new car specs. You'll pay 10% - 20% more for such a near-perfect car, but it will likely be a great first ownership experience.

 

For the money, the 550's are the best deal out there anywhere.

 

10,000 trouble-free miles on my 550. Which was incidentally the first (and so far only) one I drove.


Onno

 

......yeah, don't buy the first one you drive. I bought the 2nd ;-)

The real issue is not that you shouldn't buy the first one you drive, but rather to try not to let the seduction of driving one make you lose your objectivity! It ain't easy. I think the real points, which have been mentioned by various others, are firstly, if you find yourself serious about a car, get a PPI done by someone who really knows the car. It's not foolproof, but you may feel foolish later if you don't. Second, I think that especially with a car that isn't built to your order, there are going to be compromises. Decide what things you don't want to compromise and then stick to your guns. There's nothing worse than opening the garage and being confronted on a daily basis by some issue that just really gets under your skin. For instance, for me, I didn't care if my car had the "standard" wheels or the modular wheels, but I didn't want the 575 wheels on a 550. And I think the same thing applies to the color combos. I think for most of us, there are one or maybe a small number of favorite colors, some others that would be ok (say if there were other things about the car that were very compelling), and then some colors that are just not for you. You've already gotten a jump on things by stumbling on one that has your 1st choice. The last thing that's a little difficult is to try to get a sense of what the "fair market price" is for one of these cars. You're right that there's a limited number to compare, but they're not rare cars. Prices can be all over the place. Unless you're wealthy or the price variations are not a concern, it's not always wise to marry the first girl that lets you kiss her ;-)

Anyway, even though you're asking a biased group......I am confident that when you find your car, you will enjoy it thoroughly. Good luck!

 

JazzyO and a few others on this forum and another helped me buy my first 550. The collective knowledge and wisdom here is terrific.

I looked every day for a solid six months. I did not buy the 1st 550 I dove, but in the end it did turn out to be the 1st 550 that I actually looked at for purchase.

Bsilverman is spot on in his perspective. I made compromises. In fact, I never thought I would see the day that I would own a black on black car. However, for me documentation, history and getting to know the original owner were most important.

I bought mine from a private seller. It took 6 full weeks of correspondence between me and the seller to agree upon the final selling price. There were other interested parties, but I think in some ways it was just as important for the seller to feel comfortable with the future owner.

Have fun with your search and purchase!

Oh, and the black on black thing...turns out I love it! She’s a beauty!!
Image Unavailable, Please Login

 

Bravo! Enjoy your beautiful new car.

 

- Or directly from 1st to 6th gear if you feel like it.... It still will not complain...
LVG

 

Well said Viabono, but before I comment: Gorgeous car! I don't think I've seen your acquisition before. Congrats! Black is such a good colour for the 550. The shape really likes dark colours.

Compromises are indeed important. This is a 2nd hand car, minimum of 7 years old. There were 3,700 built world wide, and I think you're very lucky if you're in a realistic position to choose from more than 40 (in a large area like the US or Europe for instance) over the space of 6 months. Of those 40, you will only feel comfortable with about 20% on the mechanical side. Of those 8, half of them will be in a colour that you hate. Of the remaining 4, 2 will be too far away or will have a specification you don't like. So in the end, your choices really are rather limited. And I haven't even mentioned price yet! If you find one that fits, who cares if it's the first one? The vibe needs to be there. If she speaks to you, go for it.


Onno

 

Yes, Onno! I first saw this 550 six years ago at Classic Coach when I brought my 308 GTB in for servicing. I always admired the car having seen it there several times over the years. And I know the owner very well and just how meticulous he is servicing his several Ferraris. I was surprised when, as I was once again admiring the car on a Saturday afternoon in late November of last year (picture below), he said "The car's calling you, Barry." "I know it is" I replied. He told me that the car was available and so I rushed inside and arranged a test drive.

I bought the first 550 I ever drove. And the first 550 I ever saw! It was serviced at Classic Coach since new and so I had its complete service history. Included in the sale was the promise that during ownership, Classic would do whatever they could to make me happy. And they have! It's a friendly warranty and is much appreciated.

My advice is simple. Find the car you like, make sure it's been driven and serviced regularly and you'll be pleased with your Maranello.

Barry
Image Unavailable, Please Login

 

Oooh! That's a beauty! Would look great parked next to mine! Pozzi Blue, right?


Onno
Image Unavailable, Please Login

 

Wait 3-6 months to but your first Fcar. Prices are coming down fast.

 

+1...Then just do it, drive it and enjoy it!!

Good luck

 

... for the end of summer, hot summer daze sale? Never to be lower than the red hot summer sizzler deals that are lying just around the corner for those patient enough?


No. Just go do it.


Get a good one and you wll never regret it. Even if they are selling for $50k in 5 years. LOL!!!

 

If I had waited 1 year it would have saved me about $25k. Instead, I got 1 million bucks worth of memories in the last 12 months! If you keep on focusing on getting the best deal, you'll never buy one because you only know it was the best deal in hindsight. I agree, just buy it! Don't spend a stupid amount, but just make it happen and enjoy it to the hilt.


Onno