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High mileage F430 value?

Discussion in '360/430' started by cascade, Oct 8, 2018.

  1. cascade

    cascade Rookie

    Sep 12, 2012
    40
    I sold my F430 a few years back. It was an 05 with 22k on the clock. It was a super clean car. I just ran across a friend selling a 05 with 75k miles. It’s Red on tan with no real options aside from shields (no carbon etc). I do not have any maintenance records either. It has 2 accidents on record, both minor and have images on carfax of the damage.

    What would you guys say it should go for? I cannot find any good comps as of recent.
     
  2. BlacktopRacing

    BlacktopRacing Formula Junior
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    Sep 18, 2016
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    Dale
    Did you say SEVENTY FIVE THOUSAND miles? Just making sure, because that just might be the second highest mileage F430
     
  3. cascade

    cascade Rookie

    Sep 12, 2012
    40
    Correct, 75k or seventy five thousand.
     
  4. ScottS

    ScottS Formula Junior
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    Mar 2, 2004
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    Scott S
    I thought Ferraris explode after 10k miles?

    Let me ask the question- what do you hope to do with this car? Get back in at a low price? Because stuff breaks and wears out and in the end you spend the same and have a high mile car that breaks as an okay scenario. As in buying the car you want piecemeal. For some, that method works. Worse case you spend more, and cannot enjoy it at all because it’s in the shop or you have to do the work.

    Mike over in the classifieds seems to have the hotline to reasonable 430s at good prices. I cannot say one way or another but if I was in the market I would call him.

    If you enjoy the work and getting the low price lets you convert your sweat into value, buy a car with lower miles and clear needs that someone doesn’t have the wallet or stomach for.

    Okay back to your answer
    I would not be above 55-60 k depending on condition and inspection. If it truly is a well maintained sorted car, solid 60. You need room for stuff to break in your budget. Assuming clutch and brakes and other wearables are ok.s
     
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  5. cascade

    cascade Rookie

    Sep 12, 2012
    40
    If you have the contact for Mike, please let me know.

    In regards to your question about getting back in, to be honest, I always had wished my car had higher miles. Many of the issues I had were due to non-use from previous owners, which a lot of people here fall culprit to. These cars need to be driven. Hell, even at 75k miles in 13 years is literally nothing, but at least used properly. The low price also is a big incentive. Whats hurts is 1) no maintenance and 2) accidents.

    The maintenance part is pretty standard to me since I went through a gamut of issues. With no lights on, the biggest risks are clutch, headers, electronics to follow. The actuator may be dying after this many years or was replaced, F1 pump etc. All of those can be repaired for $3k-$4k. However, if you add all of them up, they can run north of $20K (all at independents. If you go to Ferrari, you will spend more on repair than the cars value).

    Your $50-$60k rangs I believe is spot on. I made this post to get some color on the members here who would be the potential buyers.
     
  6. Sky Hye

    Sky Hye Formula Junior
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    Apr 2, 2017
    289
    SoCal
    A buddy of mine has a scud with 82k miles. Yep 82,000 Miles
     
  7. Gated

    Gated Formula 3
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    Dec 21, 2009
    1,101
    How about $75,000 for 75,000 mile car? ;-)
     
  8. bellwilliam

    bellwilliam Karting
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    Oct 25, 2014
    198
    that (what Scott said) make no sense to me. most things that break are wear item. clutch life left is same at 25k miles vs. 75k miles - 75k mile car might of just had its 3rd clutch job, while 25k car is still on its first clutch. 25k car will end up costing more than a 75k mile car (in term of clutch life). same as F1 actuator, pump, brakes (which is extremely cheap), tires, etc..

    if you want a driver, I would take a 75k miles car at heavy discount. you will worry less and have more fun !!
     
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  9. ThunderHill

    ThunderHill Rookie

    May 23, 2018
    34
    Morris Plains, NJ
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    Toby Smith
    50k for sure. Above that I'd need to see parts of the car more closely.
     
  10. shifter

    shifter Karting
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    Apr 8, 2004
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    Joe
    I believe you mentioned or inferred that one of your desired outcomes was to gage your ability to re-sell a high mileage car after you enjoyed it for a while. If true, then be sure to separate people’s opinion of how much it’s worth from the size of the market of buyers who would actually buy a high mileage car even at a ‘low’ price.


    Sent from my iPhone using FerrariChat
     
  11. ScottS

    ScottS Formula Junior
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    Well perhaps we are both right there atrophy maintenance like hoses, battery, electrics etc. the. Use items go and then extreme use items. Engine rebuilds etc. Manifolds again. And again.
    Stuff. Perhaps we agree that maintenance in high use Fcars is more costly than medium use. And when you get hit hard, whether you do it yourself, use an independent , or the dealer it hurts.


    Here is mikes contact. Yellow compass. I have no relationship just observation. He seems to have inventory. There’s a sub 100 k 430 with reasonable miles..
     
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  12. cascade

    cascade Rookie

    Sep 12, 2012
    40
    Thank you.
     
  13. Zcobra1

    Zcobra1 Formula 3
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    Oct 9, 2012
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    Quoting many others on here, that have said this in the past :
    "The cheapest Ferrari is seldom the least expensive in the long run"

    That said, the mileage in itself may not be the biggest concern, the overall condition is. Other wear parts like regulators,
    water /F1 pumps, brakes, tires, etc. etc. all can add up quick. You do not need a clutch job or rebuild of something to add up very quickly in costs.....

    Also remember that if you get this car and want to sell soon, you will face the same obstacles your buddy faces. If you get this car for say $55K and you dump say 10-15K in it over a few years, and sell, for say $45K. You spent 20-25K to drive it.
    You could also buy a $90K one, spend half that (6-8K) and sell a few years later for say $75K. About the same or a little less total costs. However you have larger initial investment, but a much newer and theoretically more dependable Ferrari.
    Obviously this high mile car may need almost nothing over the next few years, and a newer one may turn out to be the biggest lemon....but the law of averages is against the high miler.
    If your intent is to buy and drive it for a year and sell for what you bought, and put nothing in it, you may be surprised by a break down and big expense and be forced to invest in it a bunch of cash to just turn it. I would stretch for a better example but then again, this may work out for you.

    Would make a great track car......
     
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  14. arizonaitalian

    arizonaitalian F1 Veteran
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    Oct 29, 2010
    8,336
    You can get a 7200 mile car in the ads here at the moment for $97k iirc. There is a red one with 12k miles that the poster/seller is asking $105.5k but said "make a low offer".

    So...a very good, sub-15k example is $90k to $110k (maybe less, I haven't looked closely at the whole market).

    So...where then is the market for 75k miles?

    I'd venture that for many buyers, the answer is that they would not pay $50k for a 75k mile car when a low mileage one is $90-100k. And many (most?) buyers would not buy a 75k mile car at all (of course there will be some buyer, but a lot will not consider it).

    For reasons both logical and illogical, Ferrari buyers want super low mileage cars. Its a self-perpetuating reality.
     
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  15. one4torque

    one4torque Formula Junior
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    May 20, 2018
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    Jeff s
    What is loan value on such a car?
     
  16. BlacktopRacing

    BlacktopRacing Formula Junior
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    Sep 18, 2016
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    Dale
    I'd definitely consider it for $50k. I've been toying with the idea of getting an Ex-Challenge car for around that kind of money to take to the track, so a well used, but taken care of, high mileage F430 would fit the same bill. :)
     
  17. Zed82

    Zed82 Karting

    Sep 28, 2017
    202
    Gothenburg
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    Zlatan
    You´re assuming that all Ferrari buyers think the same. I´ve been following the F430 market since i got mine and believe it or not but the high mileage cars are the ones that usually move fast since they are a cheap ticket into Ferrari ownership. At least in Europe.

    I wouldn´t be afraid at all of a well maintained 75k F430 but in this case there is no maintenance records and a title. The maintenance part could turn out to be very expensive. Without any history of oil changes i would worry sick about the engine.
     
  18. RedNeck

    RedNeck F1 Rookie
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    $50k is still $40k less than $90k. I don't think a 430 would go that low with that miles, but if it did, there are plenty of folks out there that can afford $50k for a car and not $90k. I can see a wrench turner like me jumping on that in a heartbeat.

    I watched a 120k mile 360 go for around $50k just a few months back. I would be extremely surprised if a clear title 430 would go that low, but if you can make it happen, go for it.

    Excellent point about Ferrari driver's thinking. My car had 54k miles on it when I bought it (OMG!) . It had a story and issues, but a "typical" buyer would have put 3-5 times as much into it as I have, so it wouldn't be worth it to them at the price I paid. For me, it was. I've done all the work (-first annual) myself and have turned a reject into a pretty damn nice car.
     
  19. VAF84

    VAF84 Rookie

    Jul 23, 2016
    16
    Texas
    #19 VAF84, Oct 31, 2018
    Last edited: Oct 31, 2018
    A little late the discussion, but looks like I just ran into this car on Cargurus. I actually found this thread hoping the previous owner was someone from the forum. I knew it'd be a topic of conversation somewhere just due to the mileage.

    Very tempting deal, but would worry about resale if you needed out quickly. I'm hesitant at $75k, but at $65k and in resale red.... I'd probably jump in. As others have stated, the high mileage is kind of a plus in the sense that you don't feel as bad driving it frequently. At least until you get to 99k miles :).

    Here's the link to the seller.
    https://www.chicagofinemotors.com/VIN/ZFFEW58A650141498?utm_source=cargurus.com&utm_medium=referral&utm_campaign=cargurus_listings
     
  20. Zed82

    Zed82 Karting

    Sep 28, 2017
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    Gothenburg
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    Zlatan
    If someone is in a financial situation where a "quick bail out" is even a remote risk then he or she shouldn´t even consider a Ferrari in the first place. If the financial situation is solid then buy what sings to you and prepare to part from a lot of cash in devaluation and maintenance.
     
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  21. SignatureJames

    Silver Subscribed

    Jun 23, 2012
    47
    thanks for making my 32K miles Scuderia feel virgin again... she appreciates that :)
     
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  22. flat_plane_eddie

    flat_plane_eddie Formula 3
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    Mar 30, 2013
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    I also echo the 50k value. I've seen a few 430s with 30-50k miles going for 70-80k. The only people interested in a high mileage exotic are the guys that don't want to spend a lot (for whatever reason).
     
  23. efg2014

    efg2014 Formula Junior

    Sep 14, 2014
    268
    Northern California
    50K is fantasy land. With no service records and high mileage I would venture between $70-80K.
     
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  24. VAF84

    VAF84 Rookie

    Jul 23, 2016
    16
    Texas
    I don't see a 430 in decent condition dropping to 50 just yet, 60's on the other hand may be a possibility. I've seen 430's in good condition dip into the lower 90's, "only" $15k more than this one. Still too closely priced to a good deal from a private seller to warrant an inquiry. Additionally, this one has a few things going against it. For example, I read that the car is wrapped in red, over the original red paint. I have no clue what that means, or why someone would do that. It also has no records on the Carfax, and a minor accident.

    Agreed that one shouldn't put themselves on shaky financial ground when buying an Fcar. However, keep in mind some are more financially conservative than others. Personally, I try to live on a small portion of my income and only make purchases based on value. I'd like to know that I can unload all of my unnecessary physical assets without a large hit in case of unexpected events (prepare for the worst, hope for the best). The way I see it, buying based on value means that there are more potential buyers if one does decide to do a "fire sale", especially as a meticulous owner.

    Spending more on that barely driven high priced Ferrari means keeping an eye on the miles, suffering even more depreciation, and likely have fewer buyers since one is selling to the top of the bracket. A well documented higher mileage 430 may need a few things, but could provide a better deal for the DIY types. Just my opinion.
     
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  25. flat_plane_eddie

    flat_plane_eddie Formula 3
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    Mar 30, 2013
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    So you think an F430 with 75k miles, no service records and an accident reported is worth 70-80k? Let me know if you're ready to purchase it for for the bargain price of 70k then and I'll buy it from the dealer for less and sell it to you for 70k.

    I follow the market almost daily and the cars selling in the 70-80k mark generally have 50k miles and no accidents. High mileage is the kiss of death on many exotics but especially Ferraris.
     
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