After spending lunch time for the past several weeks reading fchat threads, I finally got around to registering. This is a great site! I have wanted a Ferrari for years, but I always go conservative and end up buying Porsches. Certainly not a bad thing. But I'm getting older, so this time I'm getting a Ferrari no matter what. I'm interested in a 550 Maranello. It has been my favorite car for the last several years, although I've never driven or even had a ride in one. Reading through the 550 threads has only made me more excited about getting one. Sounds like an awesome car. In looking through many ads, I've noticed that 550's with 20-25k miles are going for around $110k. I would have no problem buying a five or six year old car with that kind of mileage, assuming excellent condition, service records, and a good PPI. Since I would probably drive the car 4-5k miles per year, in 5 years it could have 45-50K miles on it. Given that I will follow the maintanence schedule strictly, can I expect reasonable durability from the 550? Replacing the normal wear-and-tear parts is expected, but I really don't want to face an engine rebuild, which I understand is around $25k for that 12-cylinder.
Hard to tell as even the higher mileage 550''s don't seem to be showing any wear-out problems yet. As of 12 months ago, Scottsdale Ferrari claimed to have never replaced a 550 clutch, even in customer cars approaching 50K miles. I would suspect that much like a BMW, well start chasing electrical gremlins in these cars before we see real mechanical wear issues. As you have concluded from your thread reading, 550s are great cars and an increasing bargain. Good luck in the hunt!
You should have no problem with the 550. From articiles that i have read about that car they say it probably one of the best cars ferrari started making. Very reliable and very stylish also great sound but where talking about a ferrari here lol. Any way i have met people at car shows with over 70,000 miles on their 355 and their 550 never had to rebuild the engine nor never had anything wrong. But this all depends on if your going to baby the car and give it a little juice once and awhile, or your going to beat on it every time you turn the ignition. But i have to say from what i have experianced you should have no problems.
Linsey, Here is one of the most beautiful color combos (IMO) you can get, up for sale... Check it out... It may be to your liking... (If i wasn't looking for a TR, I would consider this car).. http://cgi.ebay.com/ebaymotors/Ferrari-CLEAN-LIKE-NEW-GARAGE-KEPT-00-550-Maranello_W0QQcmdZViewItemQQcategoryZ6212QQitemZ4573078646QQrdZ1
You're making the right decision to add a Ferrari to your garage. I also stuck w/ Porsches for many years and recently made the same decision. I haven't regretted it, my car is just so much more exciting and pleasurable than my last Porsche. As far as a 550, I have no experience in reliability or maintenance, but I did look at and test drive a couple and they would be a great choice.
Linsey you and I are in a simmilar situation, I too recently registered and looking for a 550 as well. The aura of a 12cly is just too much to pass up with the value of a 550 within reach I am very excited and just going through all the research and networking with dealers is a thrill. I wish you luck in your pursuit of the perfect vehicle and please do share your experiences with the rest of the community.
I had Porsches forever ...... about 2 years ago I bought my first Ferrari, a 2000, 550. Night and day difference between any Porsche I've owned ..... I'll never go back, infact, I hardly ever drove the Porsche again, only putting 600 miles on my 996 in the year and a half (after buying my 550), before finally selling it. The only thing that will return me to Porsche ownership is if my 550 starts to bleed me to death with over the top expenses and reliability issues .... these aren't cheap cars to own and definately switching to Ferrari requires a whole new mind set .... but my 550 has been extremely reliable and basically maintenence free, except for standard service. I drive it every chance I get .... regardless of where I'm going ...... My biggest concern with this car is it makes me feel like a crazy teenager again .... I drive too fast, too hard and perhaps take too many chances ...... I'd probably live longer driving a Porsche .... but it sure as hell wouldn't be as fun. My vote is dump the Porsche and buy a 550.
You won't regret it! I did it 3 months ago; 2001, TdF Blue & Cognac. I'll never sell it. BTW: got it from Jim Lyons in San Diego. A pleasure to deal with start to finish. (say hello to Wanda!) Get your PPI from Gary Bobileff in SD. Can't go wrong with both. James Image Unavailable, Please Login
Here in Salt Lake City is a dealer called Steve Harris Imports at www.ferrarisales.com . They have a few 550's around and I'm fairly sure their asking prices are negotiable. I know when I was looking for a Maser QP they were looking to deal, so it may be worth the trip.
Linsey I have found these threads to be full of info and useful in my own search as well. http://www.ferrarichat.com/forum/showthread.php?t=58206&highlight=buying+550 http://www.ferrarichat.com/forum/showthread.php?t=48887&highlight=buying+550 http://www.ferrarichat.com/forum/showthread.php?t=44521&highlight=buying+550
HAHA REELED IN ANOTHER! Linsey the 550 has been and always will be my favorite car. To me its the most beautiful automobile to ever touch the street. Ive only ridden in one and i must say it was life changing experience. Go for it and never look back. Then drive it like you stole it. You wont regret it. Keep this in mind, the Maranellos that have higher mileages are gonna be from owners who loved them too and therefore took care of them just like i think you will.
I, like you, had the same question and strategy in Feb. I traded in my '02 911 and picked up a '99 550 with 25k miles for the range you mentioned. It's my daily driver. What a car! For the same price as a new 911S (with options), you can get a 12 cylinder Ferrari 550. This is simply an IQ test, and there's only one right answer. ;-) Tim Image Unavailable, Please Login Image Unavailable, Please Login
What other car can you buy for just over $100K that has that V12 sound, the beautiful Italian leather interior, a 200 mph top end, crazy wheel spinning torque, and looks that can compare to that gorgeous Pininfarina skin? Image Unavailable, Please Login
Mine has 57,000 miles. My only problem was a small water hose blew. Of course, the car is properly maintained. Before long, I will have my second major. 12 cylinders or walk
Thanks for all the information and encouragement, especially from the former Porsche owners who now drive Ferraris. I am definitely continuing the pursuit of my 550.
Linsey. I'm another going through the same issues, though my Turbo S is a bit older and I did have a 512TR some years ago. I've been looking at 550's for a few years now and thinking what a value it is at $110-ish. While I have a BMW that was supposed to be used as a daily driver, I only drive the Porsche in decent (not-snowing) weather and would plan to drive the 550 the same way, which would mean putting about 12k miles a year on it. From what several of you are saying I can largely expect "normal service" costs assuming its well-driven and cared for. Could somebody give me an idea of what normal service costs might be driving 12k miles a year on the east coast? My 512 was very expensive to service, primarily because of the engine removal process. Thanks
It sounds like your saying if you "baby" the car you'll get longer and more reliable engine life, when the exact opposite is true. Ferrari's are designed to be driven from 3000 RPM and up. When you cruise around town alot below that specified RPM range your doing more damage than good. When you drive a Ferrari, DRIVE a Ferrari.
gmonsen: If you budget approximately $3000/year you won't be unpleasantly surprised. My guess is that you'll get away for less if there are no surprises but you should allow for at least that much in terms of your mindset.
$3k a year for a V12? That seems a bit low. But, your an owner. Any idea how much lower V8 maintenance costs would be? Anually?
