Is This What 550 Pricing Has Come To?

89K is just the starting bid...probably not worth much more though.
No reserve on E-Bay means nothing IMO.

 

According to my database, this car ran on Ebay back in May with a reserve. I don't recall what the bidding got up to. My guess is that $89,000 may represent what they have in the car.

The retail price on a 1997 550 with 12k miles should be between $100k and $110k, depending on condition. If you buy this car for $90, get the 30k service done for $6k, and the Ferrari extended warrany for $3k, you'll be close to $100k. So this looks like a good buy to me assuming that the car checks out.

DrTax

 

Is that all the Ferrari extended warranty is, $3k? What are the conditions of this warranty? I'd think you'd have to buy the car from an authorized dealer.

 

nope - they do a thorough inspection first (that you pay for) and then they'll do the warranty after anything they find during inspection is fixed.

the doc is suggesting you'd have the major service (et. al.) done at an auth dealer - it makes the inspection a lot easier since they're up to their 'nads in the car for the major anyway.

doody.

 

Can anybody clue me into a name of one of these "warranty" places and experience with them. I am interested in getting my cars covered.

Thanks

 

the warranty mentioned here is the FNA official pre-owned warranty - the program was started last year sometime (if memory serves). it's only available through your local dealer.

there are other aftermarket high-end car warranty places, including one outfit the owner of which hangs here, but i have no experience with them. some larger-than-should-be-expected independent warranty places do biz for a while and they declare bankruptcy and disappear. not all of them, mind you. apparently GE used to be in this space for a short while and they were great. presumably they lost their shirts - otherwise why would they have left? so be careful.

the word on the street is that FNA is losing money on this warranty program - but the complexity of the cars (ridiculously expensive F1 computers, etc.) requests some sort of backup plan once the beast is out of its original factory warranty.

doody.

 

found it:

http://www.exoticwarranty.com/

i talked to them briefly about a murcie warranty - i was looking at picking up a pre-owned 2002. the prices seemed very reasonable.

doody.

 

I think they're referring to the official Ferrari extended warranty which is available through the dealers. But it ain't cheap! You have to spend money to qualify the car for it and then you spend thousands of dollars per year for the warranty coverage.

If you drive your car regularly and keep it maintained, the warranty expense doesn't make much sense. (IMO, obviously)

 

also, have to remember a 97 is pretty old now. couple that with the fact you can tell all your buddies about how you bought your ferrari at the chevy dealer.....

bananaboat had a fully serviced low mileage 2000 that wasn't much more $$$$. which would you rather have?

 

FWIW, I have seen that car advertised for +/- $110,000. It's located about an hour and a half away from me.