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Whats a 550 worth when trading in??

Discussion in '456/550/575' started by Thatsmytoy, Jan 11, 2004.

  1. Thatsmytoy

    Thatsmytoy Karting

    Nov 5, 2003
    228
    San Diego, CA
    Full Name:
    Bill
    I dont know if this is too personal or not...but anyone know what a dealer will pay for 97-99 550 high vs low mileage during a tradein???

    Still saving for a 550 in San Diego*
    Bill H
    03 X5 4.6 Imola Red
     
  2. Doody

    Doody F1 Veteran

    Nov 16, 2001
    6,099
    MA USA
    Full Name:
    Mr. Doody
    are you already thinking about selling the 550 you haven't bought yet?

    :)

    ascertaining wholesale is difficult. if you can get the auction house data, that's probably the "rock bottom" number. dealers are, imo, rather unpredictable on what they'll pay for stuff, and they're all over the board. it depends on what their inventory looks like, what kind of customer you are, whether you're trading or selling. and on and on. it's not like he's got "his choice of" 38 550s to buy on a given day, so there's some give and take to be had. plus, f-car dealers don't seem to mind carrying costs as much as most car dealers. we've all seen cars sit for a quarter, six months, even longer. that's got to factor in both ways.

    doody.
     
  3. Texas Forever

    Texas Forever Three Time F1 World Champ
    Rossa Subscribed

    Apr 28, 2003
    38,949
    Texas!
    Bill, one of the biggest Ferrari wholesale dealers, to the extent that such a thing exists, is in your back yard -- http://www.sportscarcompany.com/

    Jim Lyons is one of the few dealers who actually makes a market in buying trade ins from Ferrari dealers. You will get about as honest an answer as you are going to get from Jim. But don't think for a minute that you will be able to buy a car at a true wholesale price. Jim doesn't run a charity, and why would a Ferrari dealer sell to you when Jim will overnight a check for that same car sight unseen?

    Now you can gain some intelligence to find a good deal if you are patient, i.e., buying a car at $5K to $10K over wholesale. But please understand that the purchase price is only one part of the "Total Cost of Ownership" of a 550. The condition of the car is actually much more important than saving a few bucks. Notice I said condition, not mileage. You want to find a car that has had at least one or two very anal, very rich owners.

    Because they are such a small volume builder, Ferrara just doesn't have the resources to get the cars fully sorted before shipping. I'm not saying that they are fragile or poor build quality. It is all the little niggley things like seat belt lights that will drive you crazy. So if you can find a car where the previous owners have already done the shake down cruise, that car is a deal, even if it is slightly more expensive.

    So good luck and let us know what you find, DrTax
     
  4. Thatsmytoy

    Thatsmytoy Karting

    Nov 5, 2003
    228
    San Diego, CA
    Full Name:
    Bill
    125-150 for early models....But wouldnt the new year reduce the prices?? its looks like most ebay bidders will bid up to 105-115 for these. Ive heard of one high mileage 98 550 being wholesaled for $85k. So I was curious if dealers offer around $85-$100 since I would think they obviously lowball tradeins. It would help me not be embarassed to offer $100k-110k for a early year.
    Maybe i'll just go to Vegas and put $5000 on 27 red on the roulette wheel a couple of times...either I was meant to but a 550 or i wasnt! Or I could just keep saving.......

    Bill in San Diego
     
  5. Bart

    Bart Formula 3

    Nov 1, 2003
    1,486
    Orange County, Calif
    Full Name:
    Bart
    At my dealer this past week, my salesman told be that with my mileage (43,000 miles) my 97 550, it has a value of 90 to 105 k at wholesale.

    Oh, well. I have no plans on selling my little fun toy.
     
  6. theboogers

    theboogers Rookie

    Nov 14, 2003
    42
    maryland
    Full Name:
    steve hannon
    your dealer is telling the truth. with lower miles add 5k.
     
  7. Meeyatch1

    Meeyatch1 Formula 3

    Dec 28, 2003
    1,335
    State of confusion.
    Full Name:
    Mitch
    Wow...there is a guy locally selling a 20,000 mile 550 Maranello and he is asking $92,000. Sounds like a decent deal then.
     
  8. henryr

    henryr F1 World Champ
    Silver Subscribed

    Nov 10, 2003
    16,162
    Atlanta
    Full Name:
    Juan Sánchez Villa-L

    please pass along that contact if you dont mind.
     
  9. Thatsmytoy

    Thatsmytoy Karting

    Nov 5, 2003
    228
    San Diego, CA
    Full Name:
    Bill
    Hey..dont I get first shot at the 550 for $92k??? My thread!! ;)
    Bill H
     

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