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Wanted First Ferrari - 2010/11 458 Italia under $120K

Discussion in 'Ferraris' started by jsh458ft, Feb 20, 2021.

  1. aatk

    aatk Rookie

    Nov 24, 2017
    44
    450 well spent.

    edit: especially as I just read the I drove 6000 miles in my 360 and want to blame the seller thread.
     
    NMNMNMN likes this.
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  3. stoked_7

    stoked_7 Rookie

    Nov 9, 2020
    13
    I wondered why that car sat at that low of a price for a spider. Great investigative work and thanks for sharing with the community.
     
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  4. CoreyNJ

    CoreyNJ Formula Junior
    Silver Subscribed

    Apr 17, 2006
    623
    New Jersey Shore
    I keep being reminded of the saying "the most expense Ferrari you'll ever own is the cheapest one you ever buy"
     
    NuorderSG likes this.
  5. jsh458ft

    jsh458ft Karting
    Silver Subscribed

    Dec 9, 2020
    64
    PA
    Yeah that's why my budget keeps going up, but it's going up much slower than prices are rocketing upwards. Washington DC dealership just received a 2012 with 20K miles on Saturday and sold it within 1 hour for $179K. Never listed online.
     
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  7. jsh458ft

    jsh458ft Karting
    Silver Subscribed

    Dec 9, 2020
    64
    PA
    Yeah, thank you. The volume of modifications is off-putting. Especially since there is no mention of the stock components being kept. I may inquire further just to see.. Cheers.
     
  8. Eds458

    Eds458 Rookie

    Jan 24, 2020
    28
    Northern California
    Full Name:
    Edward Lagunte
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  9. jsh458ft

    jsh458ft Karting
    Silver Subscribed

    Dec 9, 2020
    64
    PA
    sincerely appreciated! I need all the help I can get.
     
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  10. jsh458ft

    jsh458ft Karting
    Silver Subscribed

    Dec 9, 2020
    64
    PA
    Just spoke to a dealer about a recently received 2010 458 with 30K miles. Car has Check Engine light on (to be resolved), aftermarket exhaust, l
    So the car is in good working condition, and was recently fully serviced by I shop I was able to speak with, but two issues:

    1) Catalytic converters are either shot or hollowed out. Causing a check engine light. They estimated $5K for this, or if I'm lucky I get some used ones and replace myself or with a more affordable shop.
    2) Axle drive flange seals need to be replaced. Parts alone is $1,500 for this, so probably $3K.

    None of the OEM parts are included - exhaust, wheels or springs. They believe it's standard suspension with aftermarket springs.

    I HATE the wheels - I dislike the lowering - I am OK with the exhaust, skirts, and wrap. So I'm budgeting acquiring OEM wheels that match the original car's spec. Obviously also would need to budget the above repairs. I would probably buy OEM springs and have those installed (not sure on labor cost, parts look to be under $1K for gently used ones).

    Appreciate any opinions from the knowledgeable crew here!
     
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  12. FerrariCognoscenti

    FerrariCognoscenti Formula Junior

    Jan 19, 2021
    300
    If those are the only issues, then I would move forward on it, but you need to get a inspection done by a Ferrari dealership. Some wise advise, when you call Ferrari to schedule a PPI, tell the you want a WARRANTY inspection for buying an extended warranty and not a PPI...the warranty inspections are a lot more thorough (and expensive...$800 vs $400 for PPI).


    Sent from my iPhone using Tapatalk
     
  13. RV8

    RV8 Rookie

    Mar 25, 2021
    5
    The link that was attached to your post . I see the mileage as 67k not the 30 you said . Are you talking about a different car ?
     
  14. jsh458ft

    jsh458ft Karting
    Silver Subscribed

    Dec 9, 2020
    64
    PA
    Ugh. The top part of my message was a draft I thought I deleted. Can’t fix now...
     
  15. FerrariCognoscenti

    FerrariCognoscenti Formula Junior

    Jan 19, 2021
    300
    67k or 30k miles?

    67k miles I would still have confidence moving forward AS LONG AS Ferrari certifies the car through a CPO warranty inspection which you can do for $800.
     
    RV8 likes this.
  16. dgoldenz94

    dgoldenz94 Karting

    Apr 13, 2020
    197
    Full Name:
    David Gold
    They won't certify a car with 67k miles. The max is 55,923 miles (90k km). I'm sure they will do the same inspection for the fee, but it can't get the warranty. The car in the link also appears to be gone now, or maybe was relisted but that link doesn't work anymore.
     
  17. jsh458ft

    jsh458ft Karting
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    Dec 9, 2020
    64
    PA
  18. ridege55

    ridege55 Formula 3
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    May 9, 2017
    1,050
    Manhattan Beach, CA
    Full Name:
    John
  19. Natkingcolebasket69

    Natkingcolebasket69 F1 Veteran
    Rossa Subscribed

  20. dgoldenz94

    dgoldenz94 Karting

    Apr 13, 2020
    197
    Full Name:
    David Gold
  21. jsh458ft

    jsh458ft Karting
    Silver Subscribed

    Dec 9, 2020
    64
    PA
    I backed out based on the cost of work needed, said I would need to be under $140K.
     
  22. RV8

    RV8 Rookie

    Mar 25, 2021
    5
    Well good luck with your search . I have also been in the market . Looks pretty dry and what I see mostly online for sale car gurus, autotrader, auto tempest and so on . Not to appealing.
     
    jsh458ft likes this.
  23. Natkingcolebasket69

    Natkingcolebasket69 F1 Veteran
    Rossa Subscribed

    I don’t think the problem is the mileage to be honest. I meant there is a member here (malibu guy?) that has way over 100k miles and he is not alone.
    The problems to me are mods and how was the car serviced. One would think with the 7 year servicing those newer Ferraris would be okay.
    I bought my FF with like 30k miles and it was religiously maintained and I was able to get all records on the car prior to purchase and eventually I had very little wrong with the car...
    So I think so long as u keep hunting and doing your due dilligence u will find the one but probably more at 140 in this market


    Sent from my iPhone using Tapatalk
     
  24. EastMemphis

    EastMemphis Formula Junior
    Silver Subscribed Owner

    May 25, 2019
    884
    Memphis, TN
    Full Name:
    John
    Another problem with trying to get a killer deal on your first Ferrari is that a true deal isn't going to sit around for weeks while you ponder your navel. You have to act quickly and decisively in order to end up being the owner. That's tough if you have no idea what you're looking at. If you buy the "wrong" car, you're screwed. Not only do you have a maintenance headache and operational nightmare, you also won't be able to get rid of it unless you dump it on another fool.

    If you find a good car for a good price, you have to snap it up and doing that means you really have to know the car.

    Good luck with your search!
     
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  25. jsh458ft

    jsh458ft Karting
    Silver Subscribed

    Dec 9, 2020
    64
    PA
    Yep.. I've contacted seller's within 24 hours of listing for at least three cars. I have been relying on inspections and previous mechanics. I think I'm doing everything I can to act quickly. I would remove the price from the title if I could, since clearly 120 is no longer feasible in this market.
     
    EastMemphis likes this.
  26. yudkib

    yudkib Rookie

    Jan 14, 2020
    12
    Just popping in to say I’ve been following this saga for a few months now and it reliably cheers me up when I get stressed about cars or life in general. The struggle is real. Solidarity, brother
     
    Nonoyeahyeah, TroyNVie and jsh458ft like this.
  27. aatk

    aatk Rookie

    Nov 24, 2017
    44
    There’s a rebuilt title one in CA for 109k. It’s on FB marketplace.
     

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