I need all the assistance I can get. An owner of an automatic white 2001 456 is strapped for cash and desperately wants to sell his his car. An intermediary (car dealer) is negotiating the final price (could be around US $50k). The car has done 9,000 miles. It requires a maintenance (probably major/belt service) and new tires. The car seems in excellent condition, but I don't know what would be the major items and/or risks to check. The dealer tells me that the car is being sold below fair market value, and given that its the last production, will be a collector's dream. He believes that the car may appreciate in the future if properly maintained. Any advice during the next few hours would be invaluable. I truly appreciate this. Thank you.
Since he is not telling the truth about this it is possible he is not telling the truth about any other aspect of the car Get an inspection by Al Tayer or another specialist before handing any money over and find out how much the service is likely to cost you (USD 10 000 possibly)
I love my 2001 MGTA Is yous an M model ? Check on that. M is a newer model. The other repairs besides a maintenance could possibly be the window seals. Check those for leaks. Also check for shrikage on the leather on the dash and rear shelf. The price is good but the variable will be any deferred maintenance. It will not be a collectors car for many , many years. The attraction is that the car is white There were very few of them in white. Check to make sure it was not painted over. What color is the interior ? Any options such as Daytona seats?
There are lots of threads here on problems to look for. Don't be pressured by the dealer; take your time and get a pre-purchase inspection. In addition to the window gaps (an extremely expensive fix and not always successful), look at motor mounts, seat operation, hvac control panel stickiness, dash leather and rear parcel shelf shrinkage, any warning light messages (even if they say to ignore them), radiator leaks and other common problems I've probably missed. Count on $10,000 for the major service plus whatever nits and nats come up. Don't expect appreciation in value for decades; rather a slow decline. $50K is a very good price, however, assuming excellent cosmetic condition inside and out, and no surprises. Good luck and GET THAT PPI. And remember that just maintaining a 456M in good condition is an expensive proposition. Problems are sure to crop up periodically that will require a guided tour through your wallet.
1) Check the dash near the passenger air bag to be sure it's not wrinkling. If so, you will need the dash re-upholstered. 2) Make sure you are given the 3 remotes (2 black + 1 red "slave") 3) Make sure you are given both the security code (duplicate the alarm remotes) + the radio code + the ignition key code (duplicate ignition key) 4) Make sure all manuals are provided, including the Ferrari Service Book (the one that is periodically stamped by the dealer or service provider showing what's been completed.) Trying to get a duplicate Service Book is like trying to get the formula for Coca Cola. 5) MY2000+ cars are all 456M's (M = modificata or modified). Ferrari corrected the known window problem with the M's so you should be safe. 6) Carefully inspect underneath both doors + trunk lid + hood try to identify areas of re-spray to see if the car has been painted. Repainting is not a bad thing only if it was done for the right reasons (minor scratches or rock chips) + done properly. 7) Remember, it's better to buy a good car vs. a cheap car.
I re-iterate all the excellent information given by the above posters. Pressurised - Do not purchase with the heart - $50k is cheap but still require a first year slush fund of £5k and I think you may need it. The 456 is a Solid GT and I don't think it gets the credit it deserves - but in a hot climate - hoses and pipes must be inspected/changed and kept well maintained IMHO - as a split pipe etc is more of an issue than some of the scary horror stories that fly around. Like the others have said - The Dealer - So far from what I have read and no disrespect to anyone: Last Production - 2001, that is incorrect. It was the last model being a "M" modificato. - yes Collectors Dream - Err No. Not for a few years yet. I have seen ones with less than 1k miles so bear that in mind if mileage equates "dream?" 9k Mileage - needs verification but that would equate to very few miles a year - I think other threads about Garage Queens and Cars that have been driven but serviced and looked after should be looked into. Which brings me to my pioint about servicing in the Middle East? have all the annuals been done? Belts should be changed 2 years - I know other may disagree. 456 - cannot skimp on any aspect IMHO - needs looking after. Check for invoices and receipts. How many owners? Good things - if the current owner has a fleet of Enzo's etc and this is a one owner car and he loved taking his Wife and kids for a trip to Dubai once in a while then look into it oh Pitchers - we love pitchers, be nice to see a few pics - White ones are indeed very rare! Another - person to Contact is Modificata on this Board who just bought a lovely Giallo Fly 456 from Saudi and is shipping it over to the UK soon. Again - buying a well maintained car with good credentials "cheaply" is the Goal - BUT DO NOT skimp on your reserve fund! This, if used, you will not mind as much - if you dont, then the V12 will just make you smile more . Also - check for a Sports Exhaust - IMHO they go well with a TUBI or better, the orginal does not do the V12 justice. kindest regards Aamir.
Although it won't impact this purchase if you go through with it, I just want to clarify some of the information in earlier posts: the 456M appeared in 1998 as a 1999 model and was produced until 2003.
Windows are still a problem - even on the M, drive it to see if you get any significant wind noise. Collector's dream??? That's funny!
Just came back from viewing the car. I checked the stuff most wrote about: 1. The dashboard leather has shrunk (heat & sun effect) 2. The driver's seat won't move all the way to the front (does about 40% of intended distance) 3. Ashtray won't open 4. All black A/C dials and LOCK switch, door handle, etc... are sticky and look as though they've melted (probably heat/sun) 5. Car desperately needs a belt service 6. All 4 tires need to be replaced (Pirelli P Zero) 7. BIG PROBLEM: =========== We switched on the car for a few minutes, and WHITE SMOKE started coming out of the exhaust (while car was stationary). There was a lot of this white smoke and the dealer said that its because the car has been sitting in the garage for a very long time. White smoke should disappear after the car does a few kilometers. I got worried so I requested a report from the authorized Ferrari workshop that would indicate the exact amount I have to pay to get the car road-worthy again. Car price (as is): US $40,000 Tires: US $2,000 Belt service: unknown Salesman commission: $2,600 Total: $44,600 + belt service + fix white smoke Color: black Interior: Tan Mileage: just over 10,000 miles Storage: current owner (7 months) kept it under the boiling sun and drove it for about 6,000 miles without proper service. Previous owner took good care of the car (I know him very well). Opinions please?
is it white or black? if its black, and you live in the middle east, its probably too hot to live with. all the posters above made good points, but you must take it to the dealer to get it all checked out. do not write a check until that has been done. btw, this car will not be a collectors item for a very long time. if it were an mgt you might have a shot, but not an auto. sorry
Do not buy the car without a full Ferrari Pre Purchase Inspection. If the seller does not let you do this then walk away There will always be more cars to look at Too bad it is not white . Too much is unlnown about the car even at that low price.
The car is going for a PPI tomorrow morning. As for the smoke, its kinda bluish-white and definitely smells as though something is burning. It's not the kind of vapor you see in mornings/cold days. Something is definitely cooking there! I don't know whether the engine is a write-off or can be salvaged?
blueish oil indicated oil is coming in the cylinders. Not a good sign on a 10k mile car. I'd take the price further down and buy it, but only because I would do the engine work myself.
white smoke = blown engine... if the engine temp spikes, probably a head gasket. Oil seepage from valve guides should clear up quickly, and only blow off throttle so I doubt that is the problem. The reason why it is cheap is b/c the engine is toast. When they do a leak down make sure they check to see if the coolant is bubbling.... good luck
The car is in Jeddah. It also failed the PPI done by the Ferrari garage (Fast Auto Technic). They were unhappy with the white/blue smoke, confirm that its oil burning, and want a complete lubrication service and spark plug cleaning. Afterwards, they may be able to tell the status of the vehicle. The current owner used BMW-approved engine oil (whatever that may be) instead of the Ferrari-approved engine oil. Service was performed by a non-authorized garage. So far, Ferrari garage won't issue a report until a proper service/lubrication is performed. This is all like a big mess unfolding with strange twists to the plot emerging everyday. I doubt that the current owner wants to spend another cent on his car. He just wants to sell "as is". I don't think its worth taking the risk!
Is it the same car that was in Ibn Mansi in January? I nearly bought that car, but there was no engine problems back then. To be honest @$40K its too expensive. I would say that in that conidition it is worth $30K at the most. If you want advice speak to Rex71 (Majd) from this site who lives in Jeddah too. He will be happy to help you out.
If your heart is set on a 456M, it's time to consider looking elsewhere and being willing to spend more money now to get a car that will cost you less money later. There are probably several dozen worldwide available at this moment. The cost of getting a PPI and shipping to you will be well worth it; you could probably get away with not even looking at it personally if you get detailed, authenticated photos and a knowledgeable and trustworthy PPI. Good luck and PLEASE don't spend another minute, dollar or euro looking at or dealing with this car.
