Purchase Advice

Discussion in 'Ferrari Discussion (not model specific)' started by slesh, Feb 15, 2021.

  1. slesh

    slesh Rookie

    Feb 15, 2021
    Full Name:
    Hey guys,

    New here. Wanted to hear some general thoughts on what it's like owning and maintaining an older Ferrari. I was in middle school when the 550 and 360 came out and have been in love ever since, especially since they are basically the last gated 6 speeds. I am in my mid 30s and finally have the money and time to enjoy one of these. However I have absolutely no clue what I am getting myself into. I have never even owned a used car before, let alone one that would be over 20 years old. Would appreciate if anyone could enlighten me with the annual maintenance costs, what kind of things typically breakdown overtime with these models and need to be replaced and is there any specific VSC/extended warranty company you would recommend. Apologize for being a noob. Thanks!
    paulchua likes this.
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  3. Shark01

    Shark01 F1 Rookie

    Jun 25, 2005
    Just plan on putting aside $5k every year for maintenance....some years you will use all of it, some years not. It's no big deal. What can break? Anything....the one thing I'll say as an owner of a 21 year old car, plan on replacing all components that use rubber or polymer compounds.....hoses, brake lines, suspension components, weather stripping, seals, stuff like that.
    paulchua likes this.
  4. Nospinzone

    Nospinzone F1 Veteran

    Jul 1, 2013
    Weston, MA
    Full Name:
    There's enough advice here to keep you reading all week. Simply do searches in this forum, the technical and car specific forums.
    lkstaack and paulchua like this.
  5. andy308

    andy308 Formula 3

    Jan 16, 2005
    Cumming, GA
    Full Name:
    Welcome. As others have said lots of info here if you do a search. Read the buying guide in the 360 section. Also fill out your profile and someone local may be able to meet up and educate you. Happy to help if you are around Atlanta. Good luck.
  6. paulchua

    paulchua Cat Herder
    Moderator Owner

    Jul 1, 2013
    Menlo Park, CA
    Full Name:
    Paul Chua
    A warm welcome! Definitely take a look around and do some research. I would argue maintenance will be much higher than average than standard supercars. Then again, you don't have depreciation lurking which helps a lot. Take a look in the 550 and 360 sections, both communities are always happy to answer specific questions you can't find.

    Best wishes and welcome again!
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