I think I already know the answer, but I'll ask anyway... I've contacted a seller regarding a Black 2004, 360 Spider, located about an hour from me (I'm in Santa Barbara). - 7,800 miles - Custom 3pc wheels - 6 speed manual transmission - Daytona seats - Challenge Stradale front & rear grills - Clear bras in place - Scuderia Sheilds He's asking $77k, but there are serious (past) issues with the car. The seller assures me that the car is in perfect condition (something I'd definitely confirm with a PPI), however, the CarFax report (which the seller didn't provide) is scary! > 04/24/2007 - TOTAL LOSS VEHICLE, Flood damage reported. Collision damage reported. > 03/12/2008 - Title updated [CarFax warning: Salvage title from Florida didn't get transferred to California when this vehicle was sold. This may be a case of Title Washing]. > 11/29/2011 - Vehicle reported stolen. > 01/12/2011 - Vehicle recovered after theft. > Several incidents of the vehicle failing emissions inspection > Several incidents of mileage inconsistencies. At this point, some of you are probably saying RUN, RUN FAST AND RUN HARD! But...if I could get the price down enough, would it be worth it (don't beat me up, I'm new to this)? If all service is completed and all issues are corrected during a PPI, is it even then worth pursuing? If so, what would be a descent price... high 40's?
I wouldn't go forward with this one if I were you. Put yourself in the sellers position, because you might choose to sell it some day. Would it be difficult for you to explain this situation? Probably. Would it seem like the checkered past of the car seems like you're hiding something, even though you're probably an honest dude? There's just too much risk involved and the asking price makes me think the seller regularly smokes crack. Sorry to be harsh. This one is not worth it. Let it go and it can be someone elae's problem. Follow your sense and intuition. God it took them over a month to recover after theft! Imagine what horrors could have befallen it in that time. Poor thing! You hate to see a thing of beauty abused as such. We're here to help!
I'd consider it if you thought you'd keep it for several years. U could get a good deal and reap the benefits of huge savings, provided it is in good running condition. Even with these issues, I'd be shocked if the seller took less than $65k. It's an '04, it's a spider, and it has 8k miles. If it had no title issues, the ask price would be well into 6 figures.
I'd kill this car with fire...honestly, I guess you live an hour away from Disneyland, because the guy asking $77k is in Fantasy Land.
High 40's is dreaming even if the title stinks like the fish that may have been living in it. Based on the year and mileage alone, he has it priced very low, but if it has a ton of issues that the title implies, why would you want it for any price? If you want to take a gamble, and the PPI checks out with only minor issues, then sure but plan to keep it a long time, at least long enough to make the former title blemishes a thing of the past. Go for it, but 73k is probably the entry fee and accept the fact youre going to take a real hit when you do eventually try to sell it. Those skeletons may fade but will never go away.
There are so many good cars out there - Don't shop bad ones. You know the saying- If you can't afford a good Ferrari, you definitely cannot afford a bad one.... GL ScottS
you can get way better than that, good thing you passed. I am not convinced you can ever fully fix flood damage, might be ok for a while but there will be issues down the road.
You people are awesome! I was worried that I'd get flamed for asking such a stupid question. Thank you for such knowledgeable advice. I was considering making a low-ball offer, but based on your recommendations, I'll definitely pass. Thanks again!
No reason to flame you... you knew the "right" answer before you started the thread! Have you checked out this guy? http://www.ferrarichat.com/forum/showthread.php?t=376021 I have no relation to this seller what so ever. Maybe something will work out for you two.
Yes, I did see it (thanks for the heads-up though). I definitely like the look of his car. I am, however, concerned about being able to get it registered in California (strict emissions standards). In addition, I was hoping for a 2003-2004.
Maybe he will agree to reverse the straight pipes back to OE and as Nouvalari (Capt Glenn) said, it will be CA compliant.
I just went through this bringing my AZ registered 360 to Santa Barbara, it was easy. Lady at AAA DMV desk walked out to the car, looked at the sticker and it was done.
If it's that easy to bring a car in from out-of-state to CA, it would certainly open up a lot more options. I'll have to do a bit of research. Thanks for the info.
you still have to pass smog of course and I had issues passing smog but that was my car that had the issues passing smog, not 360's in general.
I can't stop thinking about this stupid car. Why does it have to have such a sordid past? It's almost exactly what I've been looking for (3-pedal, black/black, 2004, lo-miles, 1 hour away). It's hard to be patient waiting for the right car to come along (a lot like women, now that I think about it).
The heart wants what it wants. You should take a look at it. Sometimes flood brandings are disaster cars, sometimes just a little water got into the cabin and the carpets got soaked but the electrical stuff wasn't really affected. If a policy holder complains enough when that happens, an insurance company may take the hit and write it off, knowing they get the car and can take it to auction and keep the policy holder happy. Even the theft could be minor. Someone may have owed someone money and the car was borrowed and then 'kept' as leverage. Could have even been a now-ex-wife that was caught cheating or something and the guy reported it stolen just to bust her chops. You need to go look at it and see if the panels are screwed up, see if it smells really mildewy, take a code reader with you and check codes. Still no guarantees with any of that but if the price is right and you really want it maybe its fate.
It sounds like you bought the CarFax report yourself. I imagine you have a PDF of it. Coudl you post it?
Kevin, that's probably very good advice (it's what I need to hear). FTA: Yes, I purchased the CarFax (see attached). Image Unavailable, Please Login
