Hello everyone - virgin in the house | FerrariChat

Hello everyone - virgin in the house

Discussion in '456/550/575' started by zxcasd, Mar 12, 2008.

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  1. zxcasd

    zxcasd Rookie

    Mar 12, 2008
    9
    Hi everybody. I've been lurking here for a week or so since deciding that it's time to start my midlife crisis proactively rather than allow it to hit me over the head, and there's no better way to do that than to invest in a new toy. You see, I got divorced back in November (happily), changed jobs in September, will turn 35 in August, and have been driving a 2002 M5 for over 5 years now. The Beast has performed flawlessly over 165,000 miles, has been a joy to drive, inexpensive (in the grand scheme) to maintain, and will remain in my stable as my Beater. But now, with all the changes above, I figure it's time to spread my wings a bit, which, after some consideration, and plenty of contact with a gentleman who brokers from the Manheim auctions (I bought the M5 through him at a ~25k savings), led me to...

    ...a 2005 or 2006 Bentley Continental GT.

    So... why am I here?

    Two reasons.

    Firstly, the former boss who dragged me kicking and screaming out here to San Diego back in 1998 (from New England) is a four-time Ferrari owner (I believe his current ride is a '99 F355 Spyder, his previous a '97 F355 Berlinetta), and tooling around with him, getting used to the SoCal lifestyle (this is the land of Creative Financing, after all), seeing the reactions he got, really turned me on to the idea.

    Secondly, there is zero camaraderie among Bentley owners that I can find, at least on the internet. None. Not a single functioning, active message board or viable car club. The only option I have is to, perhaps, go make friends with the boys down at Symbolic Motors, which really defeats the purpose of seeking a club or message board in the first place - to get unbiased opinions and suggestions from real owners who have invested heavily in and live with these cars every single day.

    I dunno - maybe Bentley people are just all misanthropes.

    Anyway, all of the (extremely limited) research I could do on the Bentley indicates that I'd love it, and that it's reasonably solid, but there is simply not nearly enough longevity, service, and maintenance cost information for me to even consider getting one that's out of warranty (which eliminates about half of the 2005s), and which, apparently, is a common consideration for others, since there's a significant price jump just going from 2005 to 2006 with no other differences, including mileage.

    On the other hand, the unbelievable wealth of information and support I see from Ferrari message boards such as this and from local clubs has given me a reasonable basis to consider investing about the same amount that I would have spent on the GT in a Ferrari that's 5-8 years older, completely without warranty, and with much higher maintenance costs, simply because now I KNOW what to expect.

    So, thanks to all of you who make this thing possible, and hopefully soon I'll be a member of the club.

    That having been said, I'm now in the market for a 97-01 550 Maranello, red or black (preferably red, though I'm seeing a lot more black out there). I've read just about every post here I can find, and just about all of my questions were preemptively answered (what to watch for, PPI suggestions, dealer vs. private party vs. Ebay, etc.), except for one:

    To you knowledge, are there any significant differences in durability, quality, or longevity in the 97-01 model years? That is, any year-specific problems that I need to watch out for? I recall reading about a recall on the 97 wheels, and I believe I remember reading also about a short-lived problem with the glue Ferrari used on the dash that would cause major shrinkage and warping over time and require eventual replacement, but I don't remember a year quoted for that one.

    Thanks again for all of your help, and I'll be keeping my eyes open.

    Regards,

    Tom
     
  2. teachdna

    teachdna Formula Junior

    Sep 1, 2001
    374
    Cincinnati
    Full Name:
    Jeffrey Robbins
    Welcome!

    I've driven the Bentley extensively as I was considering a purchase and I can tell you that you'll be pleased with the 550 in comparison. But they are very different cars so I'd urge you to get some seat time before you make a decision. Some believe that early cars are a bit faster. That being said, there are some subtle differences in the model years and yes, the early years did have some issues. But the careful owner (and you'll want to purchase ONLY from a careful owner), will have sorted them out completely and you shouldn't hesitate in choosing an older car that has been well taken care of. Ferrari NA will have a record of whether all of the recalls have been performed on the car- that can be checked during a PPI although the owner should have the records. The careful owner will also have changed out the engine mounts, made sure that actuators are fixed on the left and right sides, that upgraded fuel hoses and coolant hoses are in place, etc. Also, look for the maintenance records. My personal advice is...no records, walk and look for a different car: there are lots out there.

    You'll get lots of advice as to what you should look for in terms of mileage, price, etc. But what you really want is a well-driven car at a fair price (you DO get what you pay for in Ferrari-land) with records and a willing owner who will help you through the learning curve of a Ferrari purchase.

    I'd also strongly suggest a trip to see the car that you're considering if it happens to be out of state- and don't be afraid to buy out of state as the market is truly a national one and CA probably has some of the higher prices. You can save a lot more than a plane ticket!
     
  3. zxcasd

    zxcasd Rookie

    Mar 12, 2008
    9
    Thanks very much for the response, and for those who emailed me directly. All things considered, I'm leaning heavily toward a 550 for a large number of reasons. And, in fact... may I ask for some opinions on this?

    http://www.sportscarcompany.com/detail-2000-ferrari-550_maranello-2479180.html

    This unit seems to have all the toys and reasonable miles.

    I believe a few of you have dealt with Jim Lyons either directly for a purchase or indirectly through events. My research seems to say that his prices are reasonable and that he's a stand-up guy. Any thoughts?
     
  4. JazzyO

    JazzyO F1 World Champ

    Jan 14, 2007
    12,156
    The Netherlands
    Full Name:
    Onno
    Hi Tom,

    welcome on this side of the coin. By far the best thing about my Ferrari experience so far has been my friends at F-chat - it really enhances the experience to share your joy with them.

    The 550 is an awesome car, and I've enjoyed about 6,000 miles in mine in the last 8 months. It's a great choice compared to the Bentley - mind you, I mean no disrespect to the Bentley, quite the opposite in fact. What I mean is that of the Ferrari line the 550 is the closest to the GT in overall concept (although the 612 is a little bit more so but that's a 2+2 and a bit larger), so if you want a Bentley with a Ferrari badge for $90,000 dollars, then the 550 is your car.

    It's a bit firmer than a Bentley would be but it is very comfortable nevertheless. I've done 1000kms in 6 hours in it and stepped out fresh as a daisy. It is ferociously quick, even for a 12 year old design.

    As for early or late examples - the 550 has had almost NO improvements during its production life - there was a factory recall on the steering box and the rims for '97 models but that is about it. As teachdna, I would also recommend an example that has had regular use, garage queens tend to be trouble makers. So if you want lower miles, go for a newer model. I bought my 2000 with 15,000 miles on the dial last year and it's been flawless. As always with Ferrari, a PPI is essential and rather pay a bit more with a reputable dealer (as teachdna said: you get what you pay for).

    Happy hunting!


    Onno

    P.S. There seems to be a nice one for $89k at Michael Sheehan's: www.ferraris-online.com
     
  5. SonomaRik

    SonomaRik F1 Veteran

    congrats on going fwd with your 'new' life.

    Sports car company might be a good start for you due to the fact Jim's cars are very well priced for what you get, and he knows his cars.

    He also is VERY nice about you driving before purchase. I found him good to deal with and since he's in La Jolla [nice place in its own right] you'll have fun figuring it out and seeing the ponies about

    check this thread for pos/neg on him.

    http://ferrarichat.com/forum/showthread.php?t=130459

    +1

    good luck.
     
  6. Qksilver

    Qksilver F1 Rookie
    Silver Subscribed

    Feb 11, 2005
    4,554
    PC, UT
    Full Name:
    Joe
    Hey, there a few of us who can tell you ALL you need to know about 550's, so fire away!
     
  7. Steve Miklos

    Steve Miklos Karting

    Feb 20, 2008
    65
    34562
    I just purchased my first Ferrari after owning many sportscars. I was able to get 19K mile 1999 550 >$80K I shopped hard and found a private sale. The car is a beast in the best of ways.
    Steve
     
  8. zxcasd

    zxcasd Rookie

    Mar 12, 2008
    9
    Thanks VERY much for that link to the other thread about Jim - that really did help. I'm going to give him a call tomorrow and see about setting up a time either Friday or Saturday to look at that one above.

    Not far now!
     
  9. tritone

    tritone F1 Veteran

    Dec 8, 2003
    7,203
    On the Rock
    Full Name:
    James
    I bought my '01 550 from him in 2006. Great experience all around. Gary Bobileff did the PPi and afterwards fixed the few things needing adjustment. Again, great guy, great service.

    Research by FChat
    PPI by Bobileff
    Sale by Lyons
    Paperwork by Wanda
    $$ by Tritone
    = happy 550 driver.

    Tritone
    01 550
    TdF/Cuoio
     
  10. JazzyO

    JazzyO F1 World Champ

    Jan 14, 2007
    12,156
    The Netherlands
    Full Name:
    Onno
    :) :) :)

    Onno
     

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