Hi everyone, I am new here. My current lease in my 08 M5 is ending in 2 months and I am thinking about getting my next dream car 360 Spider. I found an 03 with only 510 miles that's practically brand new. The car is on consignment at the dealer priced for 122k. I will likely offer less. Is it ok for the dealer ship to do the PPI? Or should I spend $3500 to have it certified for 12months? What do you guys think? Thanks! Will
A 2003 with only 510 miles is a "garage queen". There will be many problems with this car. You MUST get a PPI from an independent shop.
That is my worry, too. I am afraid it's been sitting in the garage most of the time for 7 years. What do you think about the certified program for 12month, it would cover major engine and transmission issues, right?
I would get it certified and be sure to put as many miles on it as possible in that 12 mo. period to make sure all the bugs are ironed out. Doing that makes getting an independent PPI less necessary. Still a good idea, but since you have a warranty, it's not as important.
Hi there that is crazy money for an 03.. about 15000 to much I am selling my o2 with 7000 stick spider for about 97-98... Too lITTLE Miles bought mine with 1900 got lucky. too much sittin.. Good luck If you like Titanium chk mine out Image Unavailable, Please Login
I don't want to talk you out of your dream but you probably could get a car with some more miles that has a complete history of recent maintenance and the initial bugs worked out --for a lot less money. These are not Volkswagens. They do require routine maintenance even just sitting there. And, quite often, a lot of little problems pop up in the warranty period if driven normally. Most of those problems have never had their chance to be revealed. Why not get a car with some mileage, spend the money to get it checked out, and then pocket the rest for repairs or maintenance that you know are coming? As to the PPI -- This car costs as much as a lot of houses. Would you not get a house inspected before you bought it?
Thanks for the advice. That is the exact thing I was wondering about such a low mileage car! Would it be a good deal at 100K? Will
Chupee, I thought you sold your car recently? I swear I just read about it in a thread? Are you in Los Angeles?
Youre not losing your mind You did read it last week but the buyer at the last minute got a wild hair and bought a MASERATI? I know a little but of a 180 not a problem Im in la if you have any questionss give a hollar Thanks Blair 818-774-1174
500 miles in 7 years? Wow! If you're gonna park it and watch it depreciate for the next guy, it's a great car and no need for the 12 month warranty. If you're gonna drive it significantly in the next 12 months, there will likely be way more that $3500 worth of problems so get the warranty. This would be one of the very few times this type of extended warranty could be useful (i.e., driving a great car after sitting to rot for 7 years).
Great advice! You can negotiate the warranty with the purchase price. Old car with low milage turns to be problems with hoses, gas line and the most important the fluids. But for that price you should get Blair's spyder, that is gorgeous car! Good luck!
Check my car out: http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=190411098422&viewitem=&sspagename=STRK%3AMESELX%3AIT#ht_68838wt_1167
The so called "garage queen syndome" is overblown IMO. I've seen cars much older than this with even fewer miles get put into service without any issues. However, if it were my money, I would look for one with average miles, good history and get a good PPI. You will pay much less and won't need a warranty which may or may not pay out anyway. You can drive it without fear of depreciation or some factory caused problem cropping up. Dave
Oh man, sorry to hear that! Your car looks great! I might come check it out, I'll be back in LA Friday afternoon and stay in town for like 5 days. How do you go from a Ferrari to a Maserati? Must be substance induced...lol
Just heard back from the seller. He has had annual oil change, recent fuel system flush, and new battery. Is that consider a good service history?
I don't think you can expect much more for a car with only 510 miles. With so few miles the PPI and warranty are more important than the service history (unless there was some catastrophic failure that had to be righted). You still need a good PPI, and I still recommend you get it certified with a 12 mo. warranty if you can.
Do you want to spend 100k on a car that will most likely have issues or a little more on something with a few more miles that is proven?
Is it pretty certain that every Ferrari is expected to have problems that need to be worked out with driving? That seems to be everyone's concern with the "garage queen" scenario. How about those of you that bought the cars new, have you been using the warrantee service in the beginning?
If that's all since 2003, no. The car is 7 years old. I am not a mechanic, nor do I have the maintainance schedule (which you can probably find online), but I understand that the cam belts are required to be replaced periodically even if the car is never driven. I believe it's every 3 years. Also, brake fluid collects moisture and must be changed periodically. These are just two examples of time-related maintainance regardless of mileage. Has any of this been done?
I think most Ferraris will get some warranty work done. My 430 had a couple of things but I didn't go for the extended warranty and it's been out of warranty for 2 years now with no problems. But I drove it about 12K under warranty. You sound like you are intrigued by buying a used Ferrari that is still basically new. You aren't alone and there are some benefits to doing so, mainly getting to know the car from essentially new. But there is a financial cost, especially if you drive it quite a bit as depreciation will be much worse than one with more miles. But if buying an ultra low mileage car floats your boat and you are willing to swallow the added overall costs, go for it. Dave
