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Leap of faith purchase

Discussion in '348/355' started by Marcelo0131, Oct 20, 2009.

  1. Marcelo0131

    Marcelo0131 Karting

    Oct 14, 2009
    90
    Stanton, CA.
    Full Name:
    Marcelo
    #1 Marcelo0131, Oct 20, 2009
    Last edited by a moderator: Sep 7, 2017
    Well, made a purchase over over the weekend.
    '99 355 F1
    22,000 mi.
    Salvage title
    The best part, LOL no records or manuals.
    Well and a friend and I flew up to go look at it and see the damage was as stated.
    Would like to give a Shout to Russ at FerrParts for takin a Sat. out of his time to meet me and look the car over for previous and stated damage. Big help..
    Well i bite the bullet and purchased and the ultimate test drove it home 420mi. home to OC, CA.
    No issues, 17-19 mileage. Good drive.

    Going to do a oil change, and pull the bumper and fix the cosmetic things for awhile.
    Plan is to keep it for a yr or 2.

    Marcelo Cabrera
    CONDOR PRECISION INC.
    MICRO MASTERS INC.
    CNC MACHINING / CNC SWISS MACHINING
    Ph 714 898-4539 Fax 714 898-4550
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  3. Oengus

    Oengus F1 Veteran
    Rossa Subscribed

    Sep 29, 2004
    8,408
    Between timing belts or FL, SC.
    Full Name:
    Chas
    looks pretty clean for a salvage title

    what was the damage?
     
  4. greyboxer

    greyboxer F1 World Champ

    Dec 8, 2004
    11,180
    South East
    Full Name:
    Jimmie
    If there's no history might not a cam belt & tensioner change be worthwhile to at least give a baseline ?
     
  5. rennspeed

    rennspeed Formula Junior
    BANNED

    Oct 4, 2007
    524
    Full Name:
    Rennspeed
    Congrats on the purchase! She looks great for a salvage title.
     
  6. BLAMPEE

    BLAMPEE Man Card Status: Never Issued

    Congrats!

    Everyone will be wondering what you paid for the car....willing to share with the brotherhood?
     
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  8. PKF355

    PKF355 Formula Junior

    Nov 12, 2003
    697
    sOCal
    Full Name:
    Patrick
    Congrats and welcome to Fchat!

    Indeed a beautiful '99 F1 Spider you've got there.

    If you don't mind disclosing what you paid for the car and what damage to the car that made it a salvage.

    Enjoy in good health.
     
  9. Marcelo0131

    Marcelo0131 Karting

    Oct 14, 2009
    90
    Stanton, CA.
    Full Name:
    Marcelo
    The damage is the rear bumper, missing the rear portions of the fender wells for the insurance pulling the bumper to do inspection. The rear grill around the tail lights has a ding in the passenger side corner. The top of the passenger door touched the rear fender during the bump and chipped the paint. thats it. Salvaged it for that. I didn't believe it either.
    The motor has out once because you can tell the mounting bolts have been removed once. Don't know why they would pull it without doing a major.
    Looks like it has newer headers,(what the mechanic told me today). Has a tubi exhaust also.

    Marcelo Cabrera
    CONDOR PRECISION INC.
    MICRO MASTERS INC.
    CNC MACHINING / CNC SWISS MACHINING
    Ph 714 898-4539 Fax 714 898-4550
     
  10. ferrari 512 tr

    ferrari 512 tr F1 Rookie

    Nov 16, 2008
    3,828
    Australia
    Full Name:
    Paolo
    the sticker on the rear bumper says it all
    ITALIA
     
  11. ferrari 512 tr

    ferrari 512 tr F1 Rookie

    Nov 16, 2008
    3,828
    Australia
    Full Name:
    Paolo
    when all is done
    beautiful car
     
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  13. PKF355

    PKF355 Formula Junior

    Nov 12, 2003
    697
    sOCal
    Full Name:
    Patrick
    Did you check frame to see if it's straight?
     
  14. PAP 348

    PAP 348 Moderator
    Moderator Owner

    Dec 10, 2005
    86,848
    Mount Isa, Australia
    Full Name:
    Pap
    Congrats, beautiful car mate! :):)
     
  15. Marcelo0131

    Marcelo0131 Karting

    Oct 14, 2009
    90
    Stanton, CA.
    Full Name:
    Marcelo
    Very basic one at the brake light and headlight inpection station. Quickly hooked up to a machine that checks alinegment of critical areas. When that check ok we didn't go any further with it.
    Also was told that the Conv. top is so finiky sp.? that if the frame was bent the top wouldn't work or align up.
    Plus the damgage was so minimal i really didn't suppect anything like that.
    But the chassis did flex .....
     
  16. bigwave92107

    bigwave92107 Karting

    Oct 6, 2009
    155
    I bet that was one AWESOME test drive home!

    she looks great!
    have fun
     
  17. Marcelo0131

    Marcelo0131 Karting

    Oct 14, 2009
    90
    Stanton, CA.
    Full Name:
    Marcelo
    Thanks i'm lovin it..
    520 mi in 3 days ... Ouch...
    Can't keep that up for to long..
    I bought this car for the simple reason to drive it. Not to worry about the keeping it low mi. for resale value.
    This car will be drivin....
     
  18. Marcelo0131

    Marcelo0131 Karting

    Oct 14, 2009
    90
    Stanton, CA.
    Full Name:
    Marcelo
    Thats the plan...Unless i can get the service records from Ferrari. The car was from around my area from the car fax. Was serviced often just dosn't tell you what was done.
    To have any type of resale power i must have one or the other...
     
  19. PAP 348

    PAP 348 Moderator
    Moderator Owner

    Dec 10, 2005
    86,848
    Mount Isa, Australia
    Full Name:
    Pap
    Good man! ;);)
     
  20. Marcelo0131

    Marcelo0131 Karting

    Oct 14, 2009
    90
    Stanton, CA.
    Full Name:
    Marcelo
    #17 Marcelo0131, Oct 20, 2009
    Last edited by a moderator: Oct 21, 2009
    MMMMM,
    Under 40k
     
  21. PKF355

    PKF355 Formula Junior

    Nov 12, 2003
    697
    sOCal
    Full Name:
    Patrick
    Good to hear that if all damage was cosmetic.


    With that salvage title it pretty much went the resale value on this one. Now go drive the sh*t out of it!! Good for ya!!!!

    Again, congrats!
     
  22. mj_duell

    mj_duell Formula 3

    Nov 20, 2004
    1,421
    S. Glastonbury, CT.
    Full Name:
    Mike
    Drive it like you stole it.....come to think of it for what it is, you did ;) Great looking F355

    --Mike
     
  23. Marcelo0131

    Marcelo0131 Karting

    Oct 14, 2009
    90
    Stanton, CA.
    Full Name:
    Marcelo
    #20 Marcelo0131, Oct 20, 2009
    Last edited by a moderator: Oct 21, 2009
    Will do....
    Thank you...

    p.s.
    Not going to drive it hard until i get those cats out. Not going to be buying headers anytime soon..
    Thats on the down low, K
     
  24. DonJuan348

    DonJuan348 F1 Rookie
    Owner

    Aug 5, 2008
    4,357
    Taxing Jersey
    SH*T!!! who cares about resell value....excellent price can't beat it and still should be able to get your money back
     
  25. finnerty

    finnerty F1 World Champ

    May 18, 2004
    10,341
    NICE !!! I looked at that car myself a while back, and very strongly considered buying it. I think it's a steal at under 40K ---- very savvy buy on your part :)
     
  26. Marcelo0131

    Marcelo0131 Karting

    Oct 14, 2009
    90
    Stanton, CA.
    Full Name:
    Marcelo
    #23 Marcelo0131, Oct 20, 2009
    Last edited by a moderator: Oct 21, 2009
    Yeah, i meant resale for what i bought it for.. LOL
    This is going to be fun !!!!!!!!!!!!!!!!!!!!
     
  27. Dohangs

    Dohangs F1 Rookie
    Rossa Subscribed Owner

    Oct 31, 2008
    2,931
    Florida
    Full Name:
    Spiro
    Congrats on your new purchase. Seems like a great buy for a salvage title.
     
  28. wingfeather

    wingfeather F1 Rookie

    Feb 1, 2007
    3,493
    rock bottom
    #25 wingfeather, Oct 21, 2009
    Last edited: Oct 21, 2009
    I wouldn't even fix it up, just enjoy the heck out of it every day. Add a sticker to the bumper to ruffle some feathers.
     

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