European Spec 550s

Discussion in '456/550/575' started by Kim Knapp, Jun 10, 2004.

  1. Kim Knapp

    Kim Knapp Rookie

    Jun 10, 2004
    I came across someone who is selling two 550s, one a 1999 and the other a 2000. Both of them have been "federalized". I ran a check with carfax and both vin's show that they passed Federal safety standards and the import bonds were returned to the owner and both cars are registered in Florida (I believe). What are the problems I might have if I purchased one of these cars? By the way, the owner is a very reputable ex-trans-am racer who owns several, nice, exotic cars and is looking to shrink his inventory. Also, anyone have any idea what a '99 red w/black interiory and about 3k miles is worth or a '00 titanium with red interior and about 14kmiles? I doubt if either have had the timing belt service done, yet.
  2. Doody

    Doody F1 Veteran

    Nov 16, 2001
    MA USA
    Full Name:
    Mr. Doody
    i would avoid the 99 with 3000 miles. that's low. who knows what's been slowly failing while it's been sitting. unless those 3000 miles were put on religiously 25 miles every other weekend on a solid exercise run, but i wouldn't assume that's the case.

    the 00 on the other hand with 14K might be a bargain, even with the major included, given how wacky the market is re: mileage.

    and i wouldn't bat an eye about the euro status - though obviously i'd get it checked out to make sure it really is kosher and doesn't pose registration or insurance problems in my state and others.

  3. henryr

    henryr F1 World Champ
    Silver Subscribed

    Nov 10, 2003
    Full Name:
    Juan Sánchez Villa-L
    i've been 550 shopping around also. my thoughts are the asking prices are a little high. i have seen some euro cars that i thought were priced right. even a 2000 is on the verge of a 5 yr old car now.

    i must admit the whole federalized process scares me. make sure you call the DOT. they have a guy there that you can call and he can verfiy the paperwork etc. ( plus the fact that your dealing with the govies can screw anything up)

    i have a friend who bought a countach that was a euro. it was represented as having valid papers etc. when he went to register it, he had a big scare and had to go through a bid ordeal to verify it papers etc.

    is this silver /red one the one in NJ?
  4. Kim Knapp

    Kim Knapp Rookie

    Jun 10, 2004
    Nope, they are both in CO. I checked at carfax and found that both passed DOT testing within a month of arriving. Both cars were about 6 mos old when they were imported. I am checking with my insurance man to make sure they will be ok there. The 99 looks like a brand new car, inside and out. The owner shares a garage with another car nut and they run all their cars regularly, if not for any great distance. The '00 looks like a well maintained 14k car, good but not perfect.
    I understand the belt job is about $4k. Has anyone done the work him(her)self?

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