Proceeding with caution..need advice. | FerrariChat
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Proceeding with caution..need advice.

Discussion in '348/355' started by Easy888, Apr 25, 2007.

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  1. Easy888

    Easy888 Formula Junior

    Sep 28, 2006
    517
    CA, NV
    Full Name:
    Jim
    #1 Easy888, Apr 25, 2007
    Guys I'm starting to close in on a possible 355 purchase, however it would not be from an authorized Ferrari dealer. Needless to say, I would get a full PPI from an authorized F-dealership prior to any transactions.

    My question is, how can one go about checking whether or not there is any debt owed on the car? I don't want to buy the car at an agreed price and come to find that I just assumed debt on the car that hasn't been paid in full.
    There's nothing to suggest this is the case, but I wanted to know what or where to look for this info to clear this issue. Perhaps not from this forum, but I think I read somewhere someone had experienced this terrible ordeal.

    Also if anyone else can suggest any additional advice when purchasing from a non-F-franchised dealership, please do so.

    Thanks!
     
  2. No Doubt

    No Doubt Seven Time F1 World Champ

    May 21, 2005
    72,740
    Vegas+Alabama
    Full Name:
    Mr. Sideways
    #2 No Doubt, Apr 25, 2007
    Contact the lender shown on the title.
     
  3. bcwawright

    bcwawright F1 Veteran

    Jul 8, 2006
    5,234
    Georgia
    Full Name:
    Bruce
    #3 bcwawright, Apr 25, 2007
    Great idea which is often overlooked...just hope you can get contact information...this is one reason why the 355 registry could possibly benefit future buyers.
     
  4. gothspeed

    gothspeed F1 World Champ

    May 26, 2006
    10,244
    U.S.A.
    Full Name:
    goth
    #4 gothspeed, Apr 25, 2007
    Yeah..... when I am serious about buying a car...... I always ask the seller: "Who has the title?" :eek:
     
  5. No Doubt

    No Doubt Seven Time F1 World Champ

    May 21, 2005
    72,740
    Vegas+Alabama
    Full Name:
    Mr. Sideways
    #5 No Doubt, Apr 25, 2007
    Sometimes autocheck/carfax can show that there is probably an outstanding loan on the car, and other times you can have a UCC lien check performed...but just contacting the lender on the title is reasonably effective.

    ...or so I'm told.
     
  6. cavlino

    cavlino Formula 3

    Mar 6, 2002
    1,740
    Ottawa, Canada
    Full Name:
    Carm Scaffidi
    #6 cavlino, Apr 26, 2007
    I would get the PPI done from an independent Ferrari service shop. Ask for referrals here for a shop that is a reasonable distance from the car you are interested in.
     

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