Share your experience buying your first Ferrari or exotic.

LOL! Bought it sight unseen from a used car dealer in a one-horse country town (was advertised in a magazine) - no PPI, gentlemen's agreement on a couple of items. Turned up pretty much as expected (rough), spent 6 months and around 70% of the purchase price with my mechanic (as budgeted for) and all that was 9 years ago and I have NO regrets; although it's probably not a technique I'd recommend!

 

My first exotic was a Lotus Esprit S1 that I found in Hemmings Motor News. This was before selling cars on the internet was really prevalent (circa 1998, not that long ago!). I had been looking at cars for sale for about two years, and had been "serious" for about a year, waiting for the right one to come along. Other cars I considered at the time were an Esprit S2, Esprit Turbo, Maserati Merak, and Lamborghini Urraco.

I bought it the old-school way, a polite and gentlemanly process, which I think has been weakened to some degree by the huge exposure the internet and eBay Motors have given to the small world of old exotics:

It started with a phone call to inquire about the car. The buyer (me) was serious and the seller was knowledgeable, honest and up front about the car. It wasn't the game of the seller telling the buyer the car is a cream puff, and the buyer having to try to discover what was really wrong with the car and hack down the price; the seller disclosed everything good that he had done to the car, as well as everything he knew was wrong with the car. He had a good bit of service history for it from before his ownership, so he and I knew what had not yet been done on the car and therefore may be needed sooner rather than later.

With me still interested after a thorough conversation about the car, he next sent me photos via the U.S. Postal Service, as we didn't have digital cameras or scanners and Photoshop 'back then'. The photos, about two dozen (think one roll of 35mm film) were clear and covered all areas of the car in good light. Notable flaws were featured in their own photos. Had I not still been interested, I would have mailed the photos back, like I did with other people whose cars I wasn't interested in.

At the time, I was also looking at an Esprit S2, and could have been happy with either car. I was going to go for the better of the two deals -- the one that I felt would cost me less overall, looking at purchase price and the long run combined. I made an offer to each seller that I felt was fair, giving valid reasons why based on my knowledge of the specifics of these two cars and others I've seen on the market. With a little bit of back and forth, the S1 became the clear winner; it had a lot more recent maintenance and cost less than the S2 at the same time. The S1 seller was more motivated, whereas the seller of the S2 was screwing around a bit.

So the seller of the S1 and I struck a deal, pending in-person inspection and test drive. He and the car were in Detroit and I was in Cleveland; in a few days, as soon as I could take a day from work, I went to see it.

The car turned out to be as described, the test drive went well, and I bought, insured, and registered the car all on the same day. I drove the Lotus home from Detroit back to Cleveland. To this day, it remains one of the most exciting an memorable trips of my life.


Thankfully, this kind of experience still happens, and is made quicker and better by digital photography. . . . but as a seller I'm getting more and more initial contacts in the form of text messages saying things like "r u stil have car 4 sale", and am encountering more and more sellers behaving like a used car salesman in a shady part of town trying to sell me an old Pontiac Sunbird.

 

I bought my first Ferrari in 1993.

I had mentioned to my brother something about some day wanting to own a V-12 Ferrari. He mentioned that to a friend of his who was a broker who specialized mostly in Porsches. The broker (who I knew as well) called me up and said, basically, that he knew a guy with a V-12 Ferrari, not sure what model, the guy might be interested in selling, and if I would buy it then maybe he could sell the guy a Pantera.

I figured what's the harm in taking a look? So we drove out to this guy's house. It's way out of town, little tiny house, a couple of cars on blocks in the front yard. In the back is this sort of barn thing, which looks like it's about to fall over. We go in there, and under a cover is a beautiful 365GT 2+2 (plus a bunch of other interesting cars). He backs it out, and we take it for a drive.

It wasn't actually my first drive of a Ferrari-- my brother had a Testarossa-- but it was my first vintage Ferrari drive. What a sound! What a car!

I spent some time thinking about it, considering alternatives (250GTE? 330GT? 330GTC?), had a PPI done (despite being cosmetically impeccable, it smoked a bit and needed valve guides). We negotiated a bit, agreed on a price that was probably slightly too high, and I was a new Ferrari owner.

Still have it, 18 years later!
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I had a couple of Porsches and wanted to buy my first Ferrari before the age of 30. I was 29 and had, a few years before, printed out a picture of a black 308 that I found on the net. It was a great photo, as the exhaust was steaming a bit in the cold. Side profile shot and one that stuck in my head. I had it sitting on my work desk for about a year and decided it was time.

So I looked for the "right car". Found a black/tan 328 online after a month or two of searching and the price was right. We discussed it over emails and the phone and I decided to buy it sight unseen from Sausalito, California (I lived in Wisconsin at the time). No PPI. Just stacks of receipts, tons of pics of every angle and a 50 point inspection sheet I put together for the owner to sign.

The car came as advertised. I LOVED it. Shifting into that gated shifter the first time was a dream come true! I still miss that car and shouldn't have sold it. The guy who I sold it to offered it back to me about a year or two later when he was having his first baby but I didn't have room. An FChatter bought it. Two years after that, he offered it to me but it was for $3k more than he had paid for it (I knew what he got it for) and I just couldn't do that on principle. We never agreed on a price and he sold it to someone else. Haven't seen the car since but think about it a lot.


Hey guys........Let's try to keep this thread as "clean" as possible. What I mean is, let's not reply with "Great story." or "Man, I love your car." It would be so much more enjoyable to read these if we didn't have to wade through the commentary. Save those for PMs. Mods, can you delete comments for this thread that aren't direct "stories about the 1st"?
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I searched for my Ferrari for 5 years on the net and through friends. I gathered as much information I could from friends that were owners. Saved my money and passed on a few that weren't what I really wanted. I had to choose between two cars that were the color I wanted. One in Los Angeles and one in Portland. I went to Portland and knew this was the car for me. Bought it on the spot after a quick test drive. I felt like I didn't need a PPI because the dealer handed me pages of recent work that had been done on the car by a Ferrari dealership. I haven't regretted one minute. Over a year later, my Ferrari has given me more pleasure than all my Porsches, BMW, etc. There is nothing like a Ferrari.

 

I was at the mall the other week and I happened to notice this new vending machine.. it had this real big "Ferrari" lettering on it. I walked over to it as it was right in between the Victorias Secret and Nine West outlets. I'll admit, the wife was shopping and I was bored.

The face was all glass and there were four or five rows.. the top row was labelled "348", the middle upper was labelled "355 spyder and 355 coupe", the lower middle labelled "360 spyder and 360 coupe", the lowest was labelled "430".

I couldn't believe it. On the right side of the machine was a card swipe and a bill acceptor slot. It read "$100 bills only please". I tapped on the glass in disbelief... I mean I actually couldn't believe it!

So I whipped out my Visa (The wife was shoe shopping so you know I didn't have any Benjamins left in the fold.. ) and tried a swipe. The reader lit up like christmas: "HAHA please swipe another". Oh yeah a wise guy... I thought. I placed it back in my wallet and went for the secret fold, where my wife knows not of.. and pulled out the Amex. With a quick swipe there was a pause.. followed by a simple whirring... and the envelope marked "360 coupe" falling to the bottom of the machine.

I trembled slightly as I took the envelope from the machine and opened it gently.. not knowing exactly what I had bought.. A silver key and fob were in the envelope with a note: Behind Sears. Carlocker 12A.

Mind you.. I still didn't know how much was charged on the card...

My wife tapped me on the shoulder and I jumped slightly. The three bags and smile on her face should have told me the financial consequences would be grave... all that I could do was smile as I held the key and fob.

(Some details and identities MAY have been altered )
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I found my Dino at the age of 23. It was a basket case -- it hadn't run in years, the interior was completely gone, the wiring and every rubber part was dust, but it was pretty much rust free and "all there". It had been sitting baking in the Arizona sun for maybe 8 years.

It was on a trailer with 4 flat tires and faded paint that looked pink from oxidation sitting behind a shop of my mechanic who restored my '73 Alfa spider. As soon I saw it, I had to have it. I'm not sure but it may have been the first Dino I'd ever seen in person. In those days around 1980, there weren't that many Ferrari's in Phoenix.

So, I asked my friend the mechanic what he was going to do with it. He said the owner wanted to get rid of it. I asked how much. He said 8 grand. I asked how much to get it running again. He said he thought maybe 15 grand if I wasn't in a hurry. He didn't mind working on it on the side and didn't mind me giving him a hand on the weekends.

He was pretty sure it was in good shape mechanically because he had worked on it. The car at the time only had about 8 thousand Kilometers on it so I felt pretty good about it. It was a risk, but sometimes you have to do that when buying a car.

I didn't even think about the down side (maybe being 23 had something to do with it). I just bought it that day for 8 grand in cash. Two years later I drove it home for the first time.

So, my first purchase was just pure dumb luck. I wasn't looking to buy one but it just fell into my hands one day out an accident. But, when it did, I jumped on it.

 

Great story. Beautiful car. I love you seats.

 

One day on a whim (I was bored with my other cars) I decided I wanted to buy a Ferrari. Never even considered it before and it was never really a dream I had or any romantic crap like that.

After a few days of research, I decided I wanted an 88-1/2 328 GTS, red on tan, under 30k miles, around $50k or less.

I looked on the internet and a car that fit those criteria exactly was listed for sale at a reputable dealer about 2 hours from home.

So I went there and bought it. That was almost 5 years ago. First Ferrari I ever sat in. First and so far only Ferrari I've ever driven or had a ride in. No PPI, unless that stands for Post Purchase Inspection, LOL. No regrets.

 

Really a no brainer. Back in the day the price difference between a P car and a F car wasn't that great. A new 911 Targa was 55K. A new 328 GTS was 70K. Guess which one ended up in my garage?

 

I caught Ferrari fever about 2.5 years ago and it became an obsession. I started out looking at 360s then after test driving decided I would pony up for a 430. Convincing the wife of the jump in price was another matter and is a thread of its own.

I wanted a manual transmission with certain options and it was very difficult to find. I would spend hours per week online and the search was getting ridiculous and a bit frustrating after a few months.

I found one only 20 miles from my home. I told my wife about it and mentioned that it was a little more than we planned on spending but it was just what I was looking for. She said "make an offer on it". I almost went to a knee.

We went on a Saturday afternoon to check it out and make a low ball offer for them to think about. Next thing you know my wife gets heavily involved in the negotiations(she's an attorney) and we buy the car on the spot.

We go to our favorite drinking spot afterward and with beer in hand she asks me "did we just buy a Ferrari?"

 

You were a ballin 23 year old to have the equivalent of $17k cash sitting around for a project car.

 

I wasnt looking for a Ferrari. I never thought Id be able to afford one so they werent even on my radar.

I happened to be driving past a dealer and there was a yellow F355 spider sitting outside. Gorgeous car and I decided to stop in and check it out.

They told me the price and it was within what I felt I could afford. I slept on it for a few days and then back to buy it.

It was *slightly* embarrassing when I wrote them a check for a downpayment and they had assumed I was paying cash. It was a hefty down payment so the financing wasnt a problem..I guess they thought I was more of a baller than I was

 

Had been going into the F dealership every few weeks to check out the invenory. One day in May of 2000 there was a 1998 F355 F1 GTS on the lift. Red/black. gorgeous in great condition...and I could see the underside was great. 6k miles. Found out they had just got the car in and were prepping it for sale.

I drove the car. Loved it. And traded in my SL500. Paid cash. The rest is history.

Life is good.

 

Took me 35 years from the time I first decided I wanted a Ferrari (I was 11) until I finally got my own. I had been looking for the better part of 10-11 years and did a lot of soul searching to find a car that felt right for me and something I could justify to the wife.

For many years this meant looking at the 4 seater models, even though I couldn't quite find one that pushed all the buttons for me. The 330GT probably got the closest but there wasn't much to chosse from in the market and the one I did find I got cold feet on (it was clean but needed some TLC), I just thought it would be too much work for me to get it right. That led me down the pathway of a 456 and again I got close but something didn't quite feel right. Ferrari's for me were about the racing heritage and as beautiful and undoubtedly capable as the 456 is, I just couldn't quite see my dreams being satiated by a 4 seater.

So having set the bar so high, how was I to find a car that actually reflected what the Ferrari brand meant to me in the intervening 35 years? Beyond a 288GTO an F40 or a wonderful front engined V12 from the 60's I was in deep trouble (not to mention the serious damage each of those cars would reek on my bank account).

Finally I decided to wind back my lofty ambitions and once again have a think about what F car might take my fancy. Maybe a 348 or 355 spider or perhaps a 360? Surely pretty good representations of what a ferrari could be for me?

But just when I thought I would be waiting another 5-10years (so that I could afford that 365GTC I really wanted) I came across a 348 GTC.

Now, I had considered myself to be somewhat knowledgable of all things Ferrari but I had never heard of a 348GTC (not terribly surprising since they were never imported to Australia or reviewed by any auto magazine anywhere in the world when released). Anyway the more I investigated, the more I liked, the competition links, the rarity, the rawness and so eventually I made an offer on the car.

However, this was only the start and this process had a degree of difficulty that was very high since the car was in the UK and that was a long way from where I live in Australia. So there were inspections, money transfers, transport, international shipping, customs, compliancing and lots of hurdles to overcome before I finally clapped eyes on my very own F car (some 6 months after my initial offer).

Almost 18months later and fortunately it was been everything I had ever hoped for.

 

I was 23 when I bought my first Ferrari, a 1983 400i 5 speed in rosso nearco (blood red) and black interior. I hadn't been in the market for a Ferrari, but had stumbled across a sad looking blue 400i automatic in a Long Island used car lot and was surprised that it was at a price I could almost afford (around $25k). Of course, this was in the days before forums like Fchat so I had no idea about PPIs, compression and leakdowns, cambelts and the general money pit an "affordable Ferrari" actually is. I did know well enough that the blue car was not a good example and eventually found a 400i 5 speed listed in the Ferrari Market Letter. It was in North Carolina, and after a few calls back and forth with the owner and some photos by snail mail, I flew down one Saturday. Of course, red mist had closed in before I even got on that plane and it would have had to be an absolute junker for me NOT to buy the car! I bought the car, flew back to New York, and waited in agony while the car was shipped up to me by closed transporter.

As it turns out, I lucked out as it was a pretty solid example. No body rust, interior in great shape, mechanically sound (as a POST purchase inspection revealed). I was not prepared for the major service cost (ouch) and in a moment of absolutely losing my mind I also stumped up for a Tubi system from the headers back (OUCH) rather than just welding up the holes in the ANSA exhaust.

But all said and done, I had a proper V12 Ferrari, and several maxed out credit cards to show for it. Eventually sold it for a song when I had to move abroad. 8 Ferraris later, I still miss that car.
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I've been a car nut since I could walk, and my first words were cavallino rampante...almost. But it took me a while to actually get there. I almost bought a '79 308 back in 1995 but in the end decided a 911 was a better choice. Then came marriage, kids and a shift in priorities, but I still kept swapping Porsches, autocrossing and doing track days while dreaming I'd own a Ferrari one day.

After several years saving my pennies (with a few other distractions thrown in), I finally decided to make the jump. I was very particular about the car I wanted (red/tan euro GTB QV with red carpet) and figured it would take whatever time it took. After posting a "wanted" ad here on fchat, a fellow fchatter sent me a note about a car in Dallas that might be what I was looking for. So I sent the guy an email. He replied that yes he was thinking about selling, but hadn't really advertised it yet, and sent me a bunch of pictures.

Pic 1, hmmm GTB looks nice...pic 2, euro bumpers look correct...pic 3, tan interior with re!@#!!@#!#%$$!!!!...HONEY WHERE'S THE F###ING PHONE????

I couldn't dial the numbers fast enough and had a preliminary agreement to buy it within the hour. The guys at Norwood Performance knew the car and gave it a thumbs up too. The next two weeks were rough, but finally I flew to Dallas on Memorial Day. Through a good friend of mine, I actually got to spend the afternoon with Bob Norwood at his place. He took the time out to give us a tour of all the stuff he's been working on (the guy is amazing), including a ride in a 600hp Lexus that I won't soon forget. Pretty cool to sit shotgun with Bob while he's hammering a twin-turbo Lexus up to 120mph or so...from a rolling start in about six seconds. What an incredible afternoon.

As if that wasn't enough, then on Tuesday I headed over to Norwood Performance where my 308 was waiting patiently for the final inspection. Jack (the previous owner) met me there and was such a nice guy. We spent a little time together, took the car for a drive, and then he left James and I with the inspection which went very well. I met Jack again for lunch over some really good Texas barbeque and we finalized the deal.

Then I had to wait for a MONTH while James carried out a major service and I headed out of the country on vacation. Finally on July 4th my son and I flew back out to Dallas, picked the car up and spent the next two days driving 850 miles in a Ferrari. Best way to get to know a new car.
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I bought my 97 rosa barchetta 355 GTS on ebay. The owner was the most gracious liar I've ever met (he only owned it for 6-8 months). I forgive him though since he was probably just scared. I trailered it back 200 miles to my home and promptly failed emissions the next day. I was able to transfer tags from my truck though, and so my 355 is legal until July. All it needs is some hyper-flo cats as I gathered from reading the 41k worth of maint receipts that it came with. It's my first and it has truly been an experience, both of stress and joy - you could say a learning one. Don't get me wrong, I'm not complaining - remember it's the first Ferrari I've every even touched. You know, the previous owner wouldn't even let me test drive it after I had driven 200 miles to pick it up!? I mean I had one hundred dollar bills in hand (actually back in my truck that my friend stayed and watched while I rode on the test drive). What an experience, this was last Nov, I was about to turn 40. I still can't believe I have one sitting in my garage sometimes, but I'm getting more used to it. I still can't figure out where's the best place to drive it...

 

I wrote this right after getting mine home. I found it on Ferrarichat.com which I'd never heard of until my neighbor told me about it, to look at this car. I was thinking of buying a new Corvette but couldn't afford it, this has been a lot of fun. About 1.5 years ago.


I purchased my first Ferrari Saturday 8/8. I was excited and scared! I’d had a Fiat 850 many years ago and when I sold it I said thank goodness I’ll never have to see those pointy fuses or cable drawn windows again. Oops. This car is a very nice driver but during the test drive the “slow down” light came on. I spoke to my Ferrari mentor on the phone and he went over the cat heat issue and relayed that his first purchase was towed half way home when he had a legitimate overheating cat. The owner was also very forthcoming with information about it and stated it had happened in the past, but not for a while. The car is generally in very good shape with only the common known faults that would be expected of a 22 year old Mondial Cabriolet.

After hours of inspection, filling out the paperwork and long goodbyes with some car tales mixed in it was time for me to go. My heart was pounding and palms sweaty, I was about to drive away in MY Ferrari. Just as I sat in the car a light drizzle started. By the time I got to the street from the parking lot it was raining. I entered the highway to what seemed like a torrential downpour and thought to myself, my first mile of Ferrari ownership is driven in a rainstorm. I’m in an Italian convertible in the rain, this can’t be good. I had flashbacks to my brothers Triumph where we determined we stayed dryer if we had the top down in the rain and went 60mph. The Mondials top is in excellent condition, the seals original and showing wear. I was waiting for drops to come down the inside of the windshield, but nothing. The car is tight, great news!

The rain let up and I’m rolling down the highway, I keep checking all the gauges like the concerned new owner I am. Gridlock! Traffic comes to a standstill. (brakes work good) My mind is going again. I’m sitting in a type of car that is rumored to have cooling issues, this can’t be good. I watched all the gauges, couldn’t take my eyes off of them except to pull forward a few feet each time traffic inched forward. The needle worked up to the 190’s range and stopped. I watched as it then dropped about 4 degrees and then rose and dropped. A huge sigh of relief, this car has a great cooling system, everything is working properly. It felt like an eternity but was probably 10 to 15 minutes in the stop and go traffic until I got past the construction squeeze.

Now I’m cruising. These things could have taken me months if not years to find out, I’m excited. I know at 95 degrees that day that my cooling system is great and the top keeps the water out. I’m in a 70 mph zone now and cruising, coolant temp is still great and I roll the windows down, time to relax in the number two lane and cruise the 190 miles home. Then out of the corner of my eye, the car in the #1 lane kicks something up. 1/2 inch wide, about a foot long, it looks like the shaft of a large screwdriver. Whack!

I’ve covered my first 15 miles in my first Ferrari. Aren’t the bugs suppose to part for the first drive, don’t the angels sing from heaven? I had to ask myself if this was going to be the nature of my entire ownership experience? Maybe the Ferrari gods are testing me, trying to see how I handle the pressure, will I crack, will I overcome? I don’t know. What I do know is that the car doesn’t leak, doesn’t overheat and the gigantic steel shaft that was hurtled at me hit the airdam and did no damage. I dropped it to 4th gear and let the engine sing. It was a good day.
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Over two years. It was all the money I had. I just received a 5 grand cash bonus from Mattel.

When I brought it home for the first time, my mother said "You spent all your money on that little sh$t?" Mom had a way with words.

 

Lets see, I was 21 at the time (23 now) and I owned a 745li and an older Mercedes C class; and I was paying around 85 dollars a month for full coverage insurance. One day I decided to sell the Mercedes considering I wasn't driving it very much. I sold it a few weeks afterwards only to find out that when I told my insurance company that I got rid of the car, they decided to charge me $300 a month considering my age and the discounts that were associated with owning multiple vehicles with the insurance company.

So I told my self," Well damn if they're going to charge me this much for auto insurance; then I'm going to give them a reason for it.". So I started looking and researching different exotics that I've always wanted as a kid. It came down to a NSX or a Viper. I found a great viper on cars.com that just happened to be in the local area, met up with the guy, and brought it home the same day. I called my insurance company to let them know what I did and to the operator's and my surprise, my insurance dropped to $140 a month.

Two years later and I'm still enjoying this bad boy every weekend. Although I am in the market for either an ferrari or lamborghini now.

 

Quite simply put, it's a dream come true.

It felt like it wasn't really happening, that it was only a dream....and of course it was difficult getting any sleep leading up to the day of its delivery, the day of the delivery, and a few weeks after.