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Going to look at a 07 F430, need advice.

Discussion in 'New England' started by Invidious, Apr 18, 2020.

  1. Invidious

    Invidious Rookie

    Apr 18, 2020
    10
    Full Name:
    B-rad
    Hello, new to the forum! First post and I’ll apologize right up front if I have posted in the wrong forum section.

    I’ll get right to it, I’m going to look at an 07 F430, black on black, around 25k miles. Looks to be a clean car, just got a brand new clutch at Ferrari of New England over the winter. I have searched countless threads on what to look for in the car before buying it and to be honest, I’m extremely nervous on what to pay for the car giving the current market. I see that the exhaust manifolds are a definite check and FoNE has already said that they are fine, they would have recommended them when the trans was out for the clutch and they saw no need to do them. They claim the car is turn key and are very familiar with it. So that is nice.

    I plan to do most of the work myself since I’m a master mechanic who probably shouldn’t be able to afford this kind of car. But I’ve always dreamed of one of these cars, I can’t afford to rebuild the car but hoping that it would be a sound investment to turn over down the road when the market picks up again. Basically, trying to look at it as money in the bank it in the garage.

    Any ideas on what a clean 430 with 25k that’s been gone through by the dealer would be worth during this current time? Asking price is 95k. Thanks everyone!


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  2. Joe_CT

    Joe_CT Formula 3
    Silver Subscribed Owner

    May 16, 2007
    1,451
    CT
    Full Name:
    Joe
    It is super hard to say what the cars are worth right now. Certainly a dealer is not going to be paying you top dollar for a trade right now, but will try to hold the line on prices for cars in inventory.

    I had a F430 prior to my 488 Spider and it was basically bullet proof (you can see the posts on my F430 Vin 147002 in the 360/430 section). You will love the car if you move forward with the purchase. The price does not sounds terrible and end the end it worth whatever enjoyment you will get out of it.

    If you look at Miller Motorcars website they have 2 in inventory right now ranging from $115,000 (12,000 mile coupe) to $130,000 (12,000 mile spider). It is hard to say if these prices will hold given the extent of the economic damage caused by Covid-19 so it really comes down to if you think it is a fair price and how much do you really want the car.
     
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  3. Nospinzone

    Nospinzone F1 Rookie

    Jul 1, 2013
    4,982
    Weston, MA
    Full Name:
    Paul
    Welcome!

    I can't help you with the value of a F430, but I would advise caution based on your quote above. The way this virus thing is going I would think there will be continued downward pressure on car prices in all price ranges. If it is a stretch for you to buy the car now, then I suggest you wait. Prices may not decline much, but they certainly aren't going up anytime soon. I know it may be hard, but bide your time and keep searching. I will say it is a plus for you if you can find a local vehicle rather than one that is in California.
     
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  4. Invidious

    Invidious Rookie

    Apr 18, 2020
    10
    Full Name:
    B-rad
    Yeah, that is what concerns me. We have already discussed pricing and to be honest, the price is very fair so far. Had the covid stuff not happened, it would be a done deal. But at the same time, there’s not a whole lot of selection of Ferrari’s for less than 80-90k either.


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  5. Invidious

    Invidious Rookie

    Apr 18, 2020
    10
    Full Name:
    B-rad
    This one is local, I wasn’t really looking for a car but kind of came across this. Everything is checking out well at this time for the car, but I do need to see it. I kind of have a number is my head that I think is going to work, and know the owner wants it gone at the same time.

    I know it’s not the right time to be buying, buy if the number I have in my head is accepted, I feel it’ll be a good buy and be able to sell down the road and not lose. But it’s a huge gamble in this market.


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  6. audi_328

    audi_328 Formula Junior
    Silver Subscribed

    Jul 13, 2005
    771
    New Hampshire
    Full Name:
    Audi
    I'm another caution vote if this is your plan, and that's without the complications brought on by the expected drop in fun car prices brought on by corona. While it has worked out for some people (2010 was a good year to buy as it turns out, and no one can predict the future), the best way to get into Ferrari ownership is to buy what you love and can reasonably afford to maintain (if you're a mechanic, that's great and will help you out). But forget about trying to make money down the road as a reason to pull the trigger. It's a cliche thing to say, but it's true.

    There's probably a few threads like this in the 360/430 forum here, search them out, or even better, post this topic on that forum and see what the owners of these cars say.

    Not trying to rain on your parade; I do hope things work out and you get a great, sorted car that you love to drive, but I can't imagine enjoying the ownership experience and coming out anywhere near break-even on a late-model, high production number Ferrari.

    Good luck with whatever you decide.
     
  7. ttforcefed

    ttforcefed F1 World Champ
    Rossa Subscribed

    Aug 22, 2002
    13,302
    if you can do all the work yourself you have way less risk then the average owner. id offer 85K which they will take. the manifolds will go at some point as they all do, so thats $6k you will have to spend and the f1 actuator is also like $3k in parts. the 430 is pure bliss to own and it checks all the boxes. if the car had capristo headers and some other goodies they might get $95 but its all stock i think $85 is safe spot. i dont see 430s getting into the 60s as thats where f1 360s have bottomed out and the 430 is def $30k more car.
     
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  8. TM328

    TM328 Karting

    Jul 26, 2004
    139
    New England
    If you plan on keeping for 3 years you may be ok. The used exotic market will take some time time before you see good opportunities. I’m sure floor plans are getting an accommodation right now similar to all mortgage’s. This time will run out and force dealerships to turn over their floor plans and send a lot of used Ferraris to auction creating a new level of prices. I’m sure it’s already started on lower trade values but it will take until late summer before we see cars unloaded at auction which will drag down the market. The good news we are locked in for higher inflation which should normalize your purchase even at $85k. The other good news is even with the market correcting the 430 has a lot of older Ferrari’s holding it’s value up and I don’t see much more than a 10k downside over the next few years with a solid rebound and minor appreciation after things get back to normal.
    Good luck
     
  9. Neil22

    Neil22 Karting
    Silver Subscribed

    Nov 4, 2018
    85
    Oxford CT
    Full Name:
    Neil Silberkleit
    Something to think about - will this be a garage queen or do you plan to drive it!
    Milage drastically will reduce the resale value.
    if you plan to drive the car you can reduce the price by purchasing a care with more milage and most of the bugs worked out.
    I was in you position when I purchased my 360 that I love - and I drive it as much as possible!
    I did a lot of work on the car myself make sure you keep records of anything you do so when you resell the car you can show its. been taken serviced correctly.
     
  10. stretchgeneral

    stretchgeneral Formula Junior
    Rossa Subscribed Owner

    Aug 9, 2014
    725
    Weston, MA
    Full Name:
    McK
    Buy it and don't look back.
     
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  11. Gh21631

    Gh21631 F1 Veteran
    Silver Subscribed

    Feb 24, 2011
    5,081
    East
    Look at it differently - time is more precious than a few dollars. If you can afford it then go buy the car and enjoy it.
     

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