What would you offer on F355 with mileage discrepancy? | FerrariChat
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What would you offer on F355 with mileage discrepancy?

Discussion in '348/355' started by Meeyatch1, Apr 18, 2007.

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  1. Meeyatch1

    Meeyatch1 Formula 3

    Dec 28, 2003
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    Mitch
    #1 Meeyatch1, Apr 18, 2007
    I have been keeping an eye on the Ferrari ads looking for an F355 and ran across this one with a mileage discrepancy due to an odometer switch out (according to them).

    http://www.autotrader.com/fyc/vdp.jsp?car_id=220956541&dealer_id=1395065&car_year=1995&model=F355&num_records=&make2=&start_year=1981&engine=&keywordsrep=&keywordsfyc=&certified=&fuel=&body_code=0&search_type=both&distance=0&first_record=76&make=FER&color=&min_price=0&drive=&default_sort=priceDESC&max_mileage=&style_flag=1&sort_type=priceDESC&address=46038&advanced=&end_year=2008&pager.offset=75&doors=&transmission=&max_price=222000&cardist=958

    What would you offer for this assuming it checks out on a PPI?
     
  2. VTChris

    VTChris F1 World Champ

    Aug 21, 2005
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    #2 VTChris, Apr 18, 2007
    This car has been discussed in the past yr. I just can't find the thread.
    I am sure someone will Chime in.....
     
  3. Dcup

    Dcup F1 Veteran

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    #3 Dcup, Apr 18, 2007
    my own thoughts ---- i wouldnt touch it. when you resell, whats the next guy gonna think ???? you ll have a hard time reselling. the car has 53000 + miles- hows the interior with 53 K on it ?? paint ?? valve guides done ?? headers ??? if your gonna keep it forever then i would offer 50 gees. you ll have to dump cash into it for sure.
     
  4. Dcup

    Dcup F1 Veteran

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    #4 Dcup, Apr 18, 2007
    my own thoughts ---- i wouldnt touch it. when you resell, whats the next guy gonna think ???? you ll have a hard time reselling. the car has 53000 + miles- hows the interior with 53 K on it ?? paint ?? valve guides done ?? headers ??? if your gonna keep it forever then i would offer 50 gees. you ll have to dump cash into it for sure.
     
  5. 285ferrari

    285ferrari Two Time F1 World Champ
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    #5 285ferrari, Apr 18, 2007
    The engine was rebuilt?? Why?? If you plan on keeping it for a LLOOOOONNNNGGGG time, then go for it. Offer him $45K and drive the piss out of it...
     
  6. Tomf-1

    Tomf-1 F1 Rookie

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    #6 Tomf-1, Apr 18, 2007
    A car w/ story from Florida? That's a shocker :D. Make sure you find out the reason behind the rebuild and definitely do a PPI before making an offer.
     
  7. Rifledriver

    Rifledriver Three Time F1 World Champ

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    #7 Rifledriver, Apr 18, 2007
    Doesn't pass the smell test.
     
  8. Dcup

    Dcup F1 Veteran

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    #8 Dcup, Apr 18, 2007
    + 1
     
  9. UConn Husky

    UConn Husky F1 Rookie

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    #9 UConn Husky, Apr 18, 2007
    First reaction is that I'd pass - too many potential issues, and resale will be very tough. But on the other hand, every car has a price...so maybe for low $40's I'd be tempted.
     
  10. No Doubt

    No Doubt Seven Time F1 World Champ

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    #10 No Doubt, Apr 18, 2007

    It depends. Are you going to keep it for life or make it a track car? If so then deduct a reasonable penalty and go for it.

    ...but if you think that you might sell in the next year, 2 years, 5 years, or ten years...no way. Stay away.

    Your situation and plans matter as to whether the deal could make sense.
     
  11. Husker

    Husker F1 World Champ

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    #11 Husker, Apr 18, 2007
    Hey look, the truth be known, as easy as it is to jack with the speedo in these things, probably 90 percent of the Ferraris out there older than 5-6 years have a mileage "discrepancy" (we just don't know about it - ssshhh!)

    Think about it - why is it that year-after-year, you see 15-yr-old 348s showing up on ebay with 20,000 miles or less? :)

    Does that make you feel better?
     
  12. Bullfighter

    Bullfighter Two Time F1 World Champ
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    #12 Bullfighter, Apr 18, 2007
    I've never seen a 348 actually being driven other than when I go to FOC events.

    I'm sure there's some truth to both the "never driven" and the "tamper-friendly odometer" stories.
     
  13. jvmax

    jvmax Formula Junior
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    #13 jvmax, Apr 22, 2007
    Yes I have heard it is common with the 355 and older models that people have disconnected the speedo at some time or another. Shoot, I saw where someone made a switch on the dash to turn it on or off.
     
  14. Meeyatch1

    Meeyatch1 Formula 3

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    #14 Meeyatch1, Apr 24, 2007
    Thank you all for your help. The reason I am even considering this car is that I really plan to drive the car and keep it for a long time. I have a habit of keeping cars, even when I do not use them very much. Ask anyone who knows me and they will tell you that once a car gets to my driveway, it stays with me. ;)

    I was thinking high $30's or low $40's as an offer just because I want to leave about $10,000 in 'just in case' money for getting the car up to the level I want it to be at, or for unintended repairs. Since it has been for sale for so long, the guy would have a hard time arguing that it is worth his asking price.
     
  15. BT

    BT F1 World Champ
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    #15 BT, Apr 24, 2007
    That sounds about right to me. Someone will probably pay near $50k for the car but if I were buying I would stay closer to $40k (although I would go after a car without the issue).
    :)
    BT
     
  16. vvassallo

    vvassallo F1 Veteran

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    #16 vvassallo, Apr 24, 2007
    Yep, we discussed this one last year. I called the dealership too and they were pretty forthcoming about things. The mileage is high, but the engine was rebuilt. They cannot tell you what was done in the rebuilt - valves changed to steel? Who knows? They thought so, but there is no record. As for exhaust headers, again who knows? For $50K, I might take the plunge because that leaves me $15K under market to reinvest in the car to correct stuff. Figure though that reselling may be a challenge. Beware that 355's have a lot more sophisticated systems to go wrong that are $$ to fix, so if any of them fail, you could really be nickel and dimed (more like $ and $$) to death.
     
  17. 1Turbo

    1Turbo Formula Junior

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    #17 1Turbo, Apr 25, 2007
    Florida Used Car Dealers = :p

    Do a Search : Many Crooks :mad:
     
  18. bcwawright

    bcwawright F1 Veteran

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    #18 bcwawright, Apr 25, 2007
    LOL....but sad to say that Florida is not the only state with its' share of crooked exotic car dealers.....just one more reason why the Fchat brotherhood is so important...not only for reputable dealers but for repair shops also.
     

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