Deposit on '00 550 | FerrariChat

Deposit on '00 550

Discussion in '456/550/575' started by markbnj, Jul 13, 2007.

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  1. markbnj

    markbnj Karting

    Feb 25, 2007
    62
    Central New Jersey
    While I traveling through San Diego this week, I spotted and put a deposit on a 2000 550 offered by Jim Lyons at the Sports Car Company. I have heard from one member in particular that Jim is a reputable fellow. I was impressed by his manner and knowledge. It's red/tan with no options. 5800 miles from a large Florida collector known well by Jim. Car is in excellent condition in and out with no paintwork or front bumper scrapes that are common. Car drove perfectly other than noisy tires due to age and mileage I assume. Car has all books, tools, clean car fax and I inspected and have a copy of the clean Florida title.

    I'm having a full PPI done (including compression) by Gary Bobileff in SD before I consumate the deal. Negotiated price was in the teens.

    Here are my questions for you kind readers:

    1. Belt service was done in March 04 with 2800 miles. Is it due for another big service based on time? Jim claims not, but that advice seems contrary to what I've read. Let's see what Gary sez.
    2. Has anyone done biz with Jim or know his reputation? What experience did you have?

    As always, thanks for your advice.

    MMB
     
  2. alberto

    alberto Formula 3

    Aug 25, 2001
    2,404
    San Diego
    Full Name:
    Alberto
    Ask Gary about Jim. I've not dealt with Jim other than one time I contacted him to ask him to call me if he got a manual Maserati Coupe, never heard from him even though a few months later he had one on his web site. That said, my experience with this sort of thing is that most dealers will not call back, so I figure he's just typical in the call back sense. Otherwise, all I know is what has been reported on F-Chat, which appears to be generally good.

    Good luck on the car. I am in San Diego, let me know if I can help in some way.
     
  3. dsd

    dsd F1 Rookie
    Owner Silver Subscribed

    Nov 19, 2006
    4,273
    Northern Virginia
    I would think a major service is due based on time. Sounds like it has had 3000 miles in 3 years. The car has basically sat for 3+ years (really 7 as 5800 miles is barely break-in).

    Anyway, your PPI guy (who has a great reputation) will be the final judge on that issue.

    I have never spoken with or dealt with Jim, so I really can't comment here.

    Anway, sounds great, best of luck and post pics!

    -dsd
     
  4. JazzyO

    JazzyO F1 World Champ

    Jan 14, 2007
    12,156
    The Netherlands
    Full Name:
    Onno
    Congrats on what sounds like a great find.

    A 550 should have a major service every three years according to Ferrari, so this one is certainly due its service. I know some F-chatters here that service their cars every 5 years without problems, but that is not the official schedule and therefore you have a good claim to demand one.

    I'm sure Gary will support this view.

    Good luck with the buy!


    Onno
     
  5. vvassallo

    vvassallo F1 Veteran

    Aug 4, 2006
    8,328
    Palos Verdes
    Full Name:
    Vince V
    You have the right guys in SD - Jim and Gary. There are some issues with this model so make sure Gary walks you through them (trans and brakes). Do remember that these cars have the bronze valve guides which will likely fail at some point. They have been greater issues on non-driven cars, so look for that. Gary will check compression correctly so you can get a heads up on that.

    I hope it works out. This is alot of car for the money.
     
  6. synchro

    synchro F1 Veteran

    Feb 14, 2005
    9,294
    CHNDLR
    Full Name:
    Scott
  7. goldyF355

    goldyF355 Formula 3

    May 30, 2004
    1,408
    Toronto
    Full Name:
    Steve G.
    I am unfamiliar with any historical/common issues in respect to 550s Trannies and brakes......would you mind elaborating on this further?

    This is the first time I've heard of this in regards to a 550 (although it is a well known issue with most 355s)......is this information correct?

    My understanding is that (in the 355) Ferrari stopped using the bronze valve guides by mid-1998 or so......why would they still continue to use them on the 550 afterwards???
     
  8. markbnj

    markbnj Karting

    Feb 25, 2007
    62
    Central New Jersey
    I pressed Jim on the service issue and he agreed to include a belt service by Bobileff in the deal (his nickel). He had already agreed to do a full fluid service as well. I am waiting for the PPI from Bobileff which is a 4 hour job producing a six page report. They were very pleasant and accommodating even though they are swamped with prep work for the upcoming Monterrey Concourso. I'm glad to hear they have a very good rep.

    I'll keep you posted.

    MMB
     
  9. JazzyO

    JazzyO F1 World Champ

    Jan 14, 2007
    12,156
    The Netherlands
    Full Name:
    Onno
    Mike Sheehan has reported that 550's sometimes might pop out of reverse - this is due to the circlip failing. About $3,500 to fix according to him.

    There are no regular issues regarding brakes that I am aware of.

    The 550 never had bronze valve guides - this is a myth crossed over from F355.



    Onno
     
  10. bundas

    bundas F1 Veteran
    Owner

    Dec 31, 2005
    7,090
    lexington ky usa
    Full Name:
    mitchell barnes
    you are sooo smart, unlike me. duh! i just pay and pay. i have a 2000 550. now has 7000 on clock. had a 15000 mile service done with 5000 on car. not worth chance, a no brain er. enjoy your purchase. i love mine
     
  11. blockbuster

    blockbuster Karting
    Owner

    Nov 26, 2006
    159
    U.S.
    Gary Boblieff sounds like a great PPI guy in the SD area. Cany anyone recommend a similarly good PPI guy in the San Francisco/San Jose area? Also, what sort of mileage is good for a 550? How many miles per year is enough to keep the mechanical parts in good condition but not too much?
     
  12. JazzyO

    JazzyO F1 World Champ

    Jan 14, 2007
    12,156
    The Netherlands
    Full Name:
    Onno
    YMMV (pun intended), but I considered my car when bought to have a nice mileage for the year (7 years old - 23000km/14300 miles). A little less would have been nice. So annual mileage of about 1500 miles is a good minimum, I would say. Anything less I would be hesitant about.

    Mind you, it also depends on how the total was put on the dial. It could be that it was driven 12000 miles in the first year, and almost none after that....


    Onno
     
  13. goldyF355

    goldyF355 Formula 3

    May 30, 2004
    1,408
    Toronto
    Full Name:
    Steve G.
    I vaguely recall reading this on his "550 page", and might have seen a couple posts regarding it...hopefully, that is an indication of it being a relatively low frequency occurrence.....

    No brake issues, but plenty have complained about the squealing pads. Easy (and relatively cheap) fix, though.....

    Thank you for the above confirmation.....I wondered how I could have possibly missed these two issues (after reading about 5000+ threads regarding 550 concerns, LOL!)
     
  14. tritone

    tritone F1 Veteran

    Dec 8, 2003
    7,203
    On the Rock
    Full Name:
    James
    ...on my '01 550 2 yrs ago. Both were top quality experiences (just as it seems you're having).
    No regrets at all.
    Congrats on getting JL & the seller to go for the belts; it is time.

    Look forward to pix in your driveway when you get the car......

    Best,
    James
    '01 TdF Blue/Natural
     
  15. Bullfighter

    Bullfighter Two Time F1 World Champ
    Lifetime Rossa Owner

    Jan 26, 2005
    22,599
    Gates Mills, Ohio
    Full Name:
    Jon
    Gary does good work - he services my 328, but they also just finished an engine rebuild on a 275GTB - so I'd have confidence he'll do good work on the 550 major.

    I'm in San Diego as well. Let me know if you need anything checked out.
     
  16. synchro

    synchro F1 Veteran

    Feb 14, 2005
    9,294
    CHNDLR
    Full Name:
    Scott
    Brian Crall
    Ferrari Brian Crall Company
    10 Beta Ct. San Ramon, CA 94583 (925) 552-9700
     
  17. J Ingram

    J Ingram Formula Junior

    Aug 12, 2006
    450
    Moreno Valley, CA
    Full Name:
    Jesse Ingram
    I agree. Makes my Boxer purr like a kitten. Okay, like a lion.
     
  18. truman bond

    truman bond Formula Junior

    Sep 9, 2006
    321
    Good luck with this one, it sounds like you have good people lined up on the deal & the 550, as far as I know, always had a great reputation as almost the perfect handling car.

    Keep us posted, nice to see a write up of a good car, with good seller and great PPi guy -

    Hope it all goes well for you - + the interior on a 550 (for the old fogies amongst us, at least) is very understated and elegant, I imagine an enjoyable place to be over the long term...

    I'm jealous!

    best regards,
     
  19. markbnj

    markbnj Karting

    Feb 25, 2007
    62
    Central New Jersey
    Bobileff were helpful and did a very thorough PPI. Very nice car but the PPI revealed a number of maintenance items which we couldn't come to agreement on versus price.

    Thanks again for everyone's advice. I'll keep looking.

    MMB
     
  20. synchro

    synchro F1 Veteran

    Feb 14, 2005
    9,294
    CHNDLR
    Full Name:
    Scott

    What maintenance did this car need?
    Thx
     

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