Ferrari Purchase???

You might narrow down the models you are interested in.

 

Well, at $150,000 CDN, his budget sort of does that for him...

Riley, welcome to FerrariChat... It sounds like you're pretty new to the whole Ferrari thing... The best thing i can suggest is that you take your time... If you're looking for instant gratification, buy a BMW while you look and learn about Ferraris... Another thing i can suggest is to hang out with owners as much as possible - especially owners of the models that you're interested in and that are in your price range... i don't know what $150,000 CDN transfers over to in USD, but even if it's half, that still leaves you with a handful of models to choose from...

Service intervals will depend on how often you drive the car; or how often you don't... Once you come up with a model or models that you're interested in, do a search here on the board for past threads that may have information concerning said models... Good luck.

 

Riley,

Welcome as well to the board. You will first need to do some research in order to find out which model interests you. Decide if you want a two or four (2+2) seater. If you are looking for a "spyder" or convertable, you have some nice choices in your price range which I figured to be approximately $126,000 USD. Also, keep in mind that acquiring a Ferrari is a first step. Maintaining one is the next and thus should be considered in your budget. I recommend looking through such publications as Hemmings Motor News (www.hmn.com) and DuPont Registry and web-sites such as www.FerrariAds.com (co-located with Ferrarichat.com), www.forza.weblobby.com and www.CollectorCarTraderOnline.com just to get a feel for asking prices. Once you have narrowed your search, I strongly suggest spending the $350-500 USD for a Pre-Purchase Inspection (PPI) especially if you are buying a car sight unseen. I have bought three F-cars sight unseen and have been fortunate enough that each was (and is) a gem. However, this fortune came with some research and inspections. The PPI is money well spent regardless of the results. Buying a Ferrari should be enjoyed. If you ever become frustrated or burned out, take a break for a day. Do not hesitate to post a link here to a car that interests you and ask for opinions. I've seen F-chatters who are close to a prospective car that will have a look for a buyer who may be out of geographical reach. So, do some research, narrow down prospective models that interest you and keep us posted. Many on this site are here to help and will be happy to offer any assistance you may need. Have fun.

Dane

 

well today is your lucky day, i will sell you my 348 for 120 K us dollars. its a steal !!!!

 

Whats a matter John, the price of Silcone gone up ?

 

No, the price of crack! Sorry, John. I couldn't resist...

Dane

 

tits arent cheap these days ...

 

thanks dane. i will have to have a little talk with george.

 

That's a pretty high budget for the car. I would take about 2/3 of it for the car purchase and keep the rest available for upgrades / repairs / insurance. You could probably get a great Testarossa, 355, or 456 within the 2/3 budget. If you need a convertible, you will be limited to probably a 355 or 348. But with the 348 you could get a pair of Ferrari's, that way you will be able to go on drives with friends!
BT

 

Especially the second time around....im still trying to get my wife to the first round.

 

Tell him "hi" and that his daughters are hot.

Dane

 

I've had my 360 spider for one year with about 3K miles used... 550 dollars spent on changing out all the fluids (oil, brake, gear, diff etc...). Pretty low budget.... actually less than any of my other cars have cost me.

 

You really need a 12 cylinder car as your first Ferrari. You can never get the true Ferrari sound and experience out of anything less.

 

120k usd can get you into a used 550 can't it? But in Canada, you're limited to 355 spyder/coupe and earlier models. However, in Canada you would be VERY VERY hardpressed to find a 550 Maranello for 150k, for some reaosn they're so high over here. On the south side of the border, you should be able to find yourself an early model 550 for a handy 120k USD. My suggestion? If you can't find a 550 Maranello, go for the 355 spyder or coupe.

Hope this helps!

-Anu

 

rileyd:
Since this is your first Ferrari, you should probably stick with one that will minimize any potential of affecting your high expectations. I planned this for some time, and was prepared to gamble on a Ferrari that had high maintenance costs, so I was content buying a Boxer.

Your budget will allow you to buy a later model car, but that is not always the best route for the first time. The 348 was the first real "mass produced" Ferrari, our local Ferrari guru suggests that they have some issues that are both costly and irritating to deal with. He also is not big on 355's with the F1 transmission, very costly to repair.

You could buy an excellent 512BBi for $80,000 US, but your scheduled service will cost you $7000-$8000, not to mention the little stuff that can go bad. Destroy the engine and you figure on a minimum of $30,000. For whatever reason, most Ferrari mechanics I have asked prefer the later front engined cars with 6 spd such as the 456. Trouble is, they are still depreciating. But maybe you want to go mid-engined.

So, for your first Ferrari, that won't depreciate as long as you take care of it, that won't cost you a fortune to repair, where you can still find parts, and is known as one of the most reliable of all Ferraris, I would recommend 308/328 with under 30,000 miles. Still beautiful, and going up in value. And with your budget, you could buy two, one being a GTS!

Good luck!

 

Why settle for a 308/328 when you can have many 12 cylinder Ferraris for around the same price. And, I have owned two V8s, a 328 and 348Spider and four 12s, a TR, a 400GT, a 330GTC and my current BB512i and I have not found the 8s that much cheaper to own than the 12s.

 

Based on his specified slant (convertible/targa), I would guess he is not interested in a 550...most likely an early to mid 355 spyder or a pristine 94 348 spyder with some change left over would be my best suggestion...taking into account the canadian market...which is wholly different from the american one, irrespective of currency conversions.
However, ClassicFerrari ( a Fchat member who posts quite regularly in the Canada section) might be able to help him out on a 2000 550 at just over his target price. Does that 150k upper limit have to include tax?

 

Sure 12 cylinder Ferraris are the ultimate, but I recommended to riled that he should buy a 308/328 because these cars are amongst the most reliable of all Ferraris. Unless you have been around performance/exotic cars for a long time, and can appreciate the fact that these cars can sometimes leave you stranded, it would be best to be conservative the first time around. Replacing the engine in a 328 is 50% the cost of doing so with a 12 cylinder. I would hate to see a new Ferrari owner disillusioned with the brand because of expensive unexpected repairs, or cars that need to be towed for any reason.

So for the first timer, that had to ask advise, I still suggest a 308/328 as a first Ferrari for the "newbie".