Ferrari info / costs

Discussion in 'Combustion Chamber' started by RW16610, Nov 20, 2008.

  1. RW16610

    RW16610

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    Two days ago I decided to call the Ferrari - Maserati dealer here to speak with someone in the service department. Obviously because of my dream of some day owning one (not sure when lol) I have been doing my share of research on the internet etc about the things most people over look that can cause problems later down.



    First of all, the service I got over the phone was WAY beyond my expectations. The man from the service department spent quite some time on the line with me going over the pros and cons with the models on my mind for later down etc. Funny thing is, when they put you on hold instead of music they have sound clips of the F1 car's engine :laugh:



    Anyways so the two cars that had me wondering most were the F355:

    [​IMG]
    From - classiccarseller.co.uk

    and the 360 Modena:

    [​IMG]
    From - allsportauto.com


    With Ferrari depending on what you plan to do with it, it is best to pay a higher price and get one of course with all booklets (just as you would with a preowned watch), service records etc. Now if you want one to actually put through some abuse on track days it might be better to consider a model selling for less that needs a bit of work. For those of you who follow racing you will more easily realise why. Let's just say, it is a good thing all those races and teams on TV have sponsors.



    The F355 can be found for a lower price but it requires a lot more work compared to the more modern cars and has header problems. The header can cost around $15,000.00 (if the Ferrari forum was correct). The more modern models can actually cost less to keep and run vs some of the older ones.



    Now although the newer Ferrari models are more reliable they are still not perfect (as is the case with anything mechanical like this). He warned me to avoid the F1 system (paddle shift) and said to look for a 6 speed manual instead. It can have some MAJOR issues and he said if the F1 Actuators go, that alone can cost $20,000.00. On Ferrari boards I see guys posting about how their 360 and F430 will not start etc or will not go into reverse etc and that is a similar issue. For the early model 360 modena's they can have issues with engine mounts cracking.




    One thing he did not mention that can be found on various sits is the fact they can have gasket problems. Seen guys spend A LOT of money to fix oil leaks that will not go away but in my opinion an expert mechanic should not experience such issues.




    The majority of people who buy these cars hardly use them. The problem with that is their made to be driven and like that, if it sits and the fluids can not circulate parts can also go bad this way. The way I see things, life is short and if it will just be a giant model car for the garage it is best left on the lot.




    Here is a list of thing along with the prices to give a better idea (for the Ferrari 360 Modena) Note that before buying ANY exotic have it inspected by the dealer mechanics, it could end up being the most costly mistake of your life:



    - Oil and fluid each season $600.00 CAD (yes it seems like A LOT and is but that only needs to be done once a year he said, right after winter before use if you put it down properly before).

    [​IMG]
    From - autobarn.com.au



    - Every 3 (some sites say 4 but he said 3) years Timing / Cam belt service $4,000.00 CAD, for part and labour. Labour can be a lot with race inspired cars because of the complex design and setup.

    360 Modena engine:
    [​IMG]
    Source unknown

    [​IMG]
    From - scatcrankshafts.com

    * those two images are the closed I could find to give you a better idea for now.


    - Tires $1,000.00 CAD for half decent ones (cost vary and they can last fairly long if you store it properly and don't do a lot of hard driving or burnouts. For the Enzo to get the suggested ones it is about $2,000.00 but keep in mind those back tires are massive). You could easily use the same tires for 2 - 3 seasons.

    - Clutch $1,600.00 USD (a side note to the Ferrari clutch in general. On Top Gear when they tested the Enzo, they did say that it can only last for 3, yes THREE hard launches).

    - Valve guides $900.00 USD

    - Cam belt (actual part) $700.00 USD

    - Annual service 6,000 miles (up to) $1,000.00 USD

    - Major service 18,000 miles $1,800.00 USD



    Fluid info: Quantity:

    Oil (10w30) 11 litres

    Gearbox 4 litres

    Brake fluid 1.6 litres

    Antifreeze 20 litres



    A lot of the added info was found on this great site:

    http://www.fixya.com/cars/p697245-ferrari_2004_360_modena/manual-24037/page-7



    Now the thing is, some private shops with the right equipment can do the work for almost half what Ferrari charges. Of course they need to stay in competition and offer it for less or else no one would bother going to them. Problem is the service records but for a person who buys the car to enjoy and wants to use it the way it was made for that could be a good option.


    A car designed for racing will not need the spark plugs, wires, brakes (carbon ceramic in some cases) changing for a LONG time if you do normal driving. All in all if you find a decent car, take good care of it you will get a lot of driving fun for less than most people even think. Here is a picture of the STOCK 360 brake system:

    [​IMG]
    From - channel4.com

    You will always read stories about guys spending a small fortune but simply look on Youtube and you can see why... I have even seen guys driving them in snow. Now at least their putting them to good use but some guys REALLY beat the cars up :laugh: You will never be lied to more in your life than if your hunting for a pre owned exotic car (so people have said).


    Was a little shocked to see how close the costs can be to Porsche for their higher end models. Hopefully you all found this as interesting as I did :cheers:
  2. DSimon9

    DSimon9

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    Rommel, thanks for the very interesting information. As an aside, I had a neighbor who was bent on buying a Ferrari. He ended up buying a used one for about $50k. An older model for sure, but can't remember which one in particular. A spider? Just guessing.

    In any case, as per your recommendation, he did NOT have the car checked before buying it. At first it ran fine, although he could not get it into 2nd gear when the engine as cold. Once warm he had no problems. :thinking:

    After a couple of months, the engine started to sound very rough. He took it to the dealer who told him it was due for a major tune-up. For this particular model, the engine had to be removed from the car in order to perform the necessary tasks. :yikes: They also had to special some parts from Italy. Double :yikes:

    At first they wanted $15 for the tune up. Because it took the dealer about 6 months to get the parts, they gave him a discount and "only" had to pay $10k.

    It gets more interesting. After he got the car back, he decided it was time to sell it. He took a bit of a loss, but he did sell it to a person in New Jersey. When the car arrived at its destination, the front fender was heavily damaged. Fortunately, he had taken pictures of the car prior to it being loaded into the cargo truck.

    So good for you for doing all this research up front. BTW, the cars pictured are absolutely gorgeous. :thumbsup:
  3. RW16610

    RW16610

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    Oh wow and yes that is the main issue with buying some of the cheaper ones. No doubt you can get some VERY good deals on decent cars but some of those people might be strapped for cash and ditching it before major service time comes. The convertable cars would be the "Spider(s)" so if it was a soft top it had to be one.

    That is part of the reason why so many models have such low milage. People who make a ton of money just get lazy or cheap (for very good reasons) and do not bother driving it really. That can be a shame because again, life is short and if your in love with these cars use it as much as possible.

    The dealer inspection is key but you can skip it if you know your stuff, see some records or have a person to you can bring with you. The newer the car the more electrinically complex it will be of course but by now more private shops will have the needed tools etc.

    Vintage Ferrari's are worth millions, much more than the new models and the wait he had for parts would be typical for a lot of those classics. I would like to get one that is as modern as possibly but at a good position in terms of depreciation.

    Funny thing is, a guy I know who bought the rights to "La Carrera Panamericana" wanted guys to join the race in Mexico but most of the entrants could not modify the cars... Majority of the owners least them to avoid the HUGE hit on depreciaton with the brand new models. Advantage to a new one IF you can afford it is a full warranty. The dealers are like any others and can make mistakes too. Seen on Ferrari forums guys having to take cars back a few times to have work re done at their expense.

    For those cheaper cars, it can be best served as a track or "beater" that you rev up a lot and don't cry as much about potholes and speed bunps. A good pothole can be VERY costly and ruin shocks but once your careful it should be ok.

    Those pictutres posted above are indeed VERY nice :drooling: Wanted to post this here so any possibly buyers that might not know learn a thing or two. It is just like those BMW M3's, the ones I seen selling dirt cheap are tempting but often make you wonder "What the hell did the last guy do to this car :thinking: :rofl:

    Cars are for fun in these cases and no one wants that to become a horror story.
  4. SPACE-DWELLER

    SPACE-DWELLER

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    Most interesting, Rommel! :goodpost:
  5. Mahra

    Mahra

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    I'll tell you about my dad's advice when buying a Ferrari:

    When you buy a Ferrari, you must have double the price in your account, half for buying the car, and the other half for maintaining it.
  6. Goldbug

    Goldbug

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    :goodpost::goodpost:

    Very interesting information. Beautiful pictures!!

    Once you get a Ferrari, you can drive it through the US and meet all your TKF friends and take us for a ride. Several of us are here in the Music City would love a ride!!!

    John
  7. Goldbug

    Goldbug

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    I was talking with a friend yesterday who bought a used Mercedes a couple of months ago. When he bought it, he was given the option for an extended warranty and he decided to take it. Several weeks later, the Check Engine light came on. After a couple of trips to the dealer, turns out he had to leave it with them for two weeks while the dealer did a complete overhaul on the engine (less than 40k miles on it).

    I didn't ask what the cost of the extended warranty was but the repair would have cost him north of $8k!

    John
  8. Cmaster03

    Cmaster03

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    Very interesting info, Rommel. :thumbsup::goodpost:


    PS I suspect Mahra's Dad's advice is correct, too.
  9. Idle Swede

    Idle Swede

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    Here's another good advice: If you have to ask, you can't afford it.
  10. colemanitis

    colemanitis

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    Great post, Rommel. :thumbsup:
  11. RW16610

    RW16610

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    Glad you all found this interesting. It is some pretty hard info to come across indeed and before even I did not know. Funny thing is you can pay VERY good insurance rates on these cars. Less than what younger guys pay for common cars like BMW etc. I am not even 25, married nor own property yet and my quote on insurance was less than a guy I know in Toronto pays for his 1995 BMW 3 Series! And that is not a lie either.

    Good idea John :laugh: Thing is, IF and when ever I do end up getting one of these I do not want it to be a giant model car in my garage. Will likely get a beater one so it can go to the track, do road trips and get some real use out of this thing as it was made for.

    Another thing that I would most likely do is attend those car shows for kids "Racing against drugs". They have that here for 6th grade students all over to find a passion and hobby to dream of and keep them out of trouble. Went to it back in the day (it is manditory) and it was a blast. That or the make a wish foundation, me and some people from the local owners club (who have hearts) could go out for a little owners club simulation for the person.


    Mahra, your dad is a smart man indeed. Ferrari can cost an arm and a leg but it is nothing compared to the likes of McLaren. For the cost of a crash in a McLaren you can buy a Ferrari. To maintain the F1 LM it will cost you over $50,000.00 a year ish. But those are Sultan cars lol the guy has a ton of them.

    Hopefully some readers or whom ever see this and it can make a difference for them :cheers:
  12. daveathall

    daveathall

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    Agreed, great post Rommel.
  13. RW16610

    RW16610

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    :thankyou: Dave :cheers:
  14. Goldbug

    Goldbug

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    "Racing against Drugs" sounds like an excellent program and idea. :thumbsup:

    Today's kids need the help and influence.

    John
  15. RW16610

    RW16610

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    Exactly and I like to do my all to make a difference for them because it is a shame how things happen. Nice for them to have some direction in their lives and something to focus on to keep them motivated and headed in the right direction. That is the great thing about dreams and goals because everything that currently is began with a dream.
  16. SPACE-DWELLER

    SPACE-DWELLER

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    Leo... enough's enough. I strongly suggest you wind your neck in. Take an infraction for provocative behaviour against Rommel.
  17. CorruptedSanity

    CorruptedSanity

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    I like the way you researched it Rommel.

    All of the above is true, and to say it in other words. I think Porsche is the only car brand that is considered an exotic/sports car that can be driven everyday. Technically you could even drive a Ferrari F430 and Murcielago everyday but the maintenance requirements approach way faster than in a Porsche. I guess thats what makes Porsche so desirable. I mean if you are rich enough, drive the Ferrari everyday but remember that sometimes it can take a couple of months to service or fix it.

    Like my friends on the Porsche forum say, marry a germany but have an affair with an Italian lol.
  18. RW16610

    RW16610

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    :laugh: :laugh:

    So true it is. Porsche (I guess maybe because their still made more for endurance racing) just have a setup and design that can take a beating better.

    Some people complain about how popular they are but truth is people are just making the right / smarter choice. When buying these cars people like us who like them so much want the most enjoyment possible. Not so sure about you but one thing for sure about me, I HATE waiting lol.

    If possibly to get both that is exactly right, the saying from on the Porsche forum you use lol. Even something like as an M3 could make for a great daily car but Porsche has all you need. One thing that is awesome is the amount of space you have behind the seats to put stuff. Seen a guy go grocery shopping in a 911 Carrera before :rofl: Not that I would ever do something like this but it was funny seeing him pack all the stuff in there. He even had a ready made baked chicken and put it on the seat LOL.
  19. RW16610

    RW16610

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    :laugh: :laugh:

    So true it is. Porsche (I guess maybe because their still made more for endurance racing) just have a setup and design that can take a beating better.

    Some people complain about how popular they are but truth is people are just making the right / smarter choice and for pbvious reasons. When buying these cars people like us who like them so much want the most enjoyment possible. Not so sure about you but one thing for sure about me, I HATE waiting lol.

    If possibly to get both that is exactly right, the saying from on the Porsche forum you use lol. Even something like as an M3 could make for a great daily car but Porsche has all you need. One thing that is awesome is the amount of space you have behind the seats to put stuff. Seen a guy go grocery shopping in a 911 Carrera before :rofl: Not that I would ever do something like this but it was funny seeing him pack all the stuff in there. He even had a ready made baked chicken and put it on the seat LOL.
  20. RW16610

    RW16610

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    :laugh: :laugh:

    So true it is. Porsche (I guess maybe because their still made more for endurance racing) just have a setup and design that can take a beating better.

    Some people complain about how popular they are but truth is people are just making the right / smarter choice and for pbvious reasons. When buying these cars people like us who like them so much want the most enjoyment possible. Not so sure about you but one thing for sure about me, I HATE waiting lol.

    If possibly to get both that is exactly right, the saying from on the Porsche forum you use lol. Even something like as an M3 could make for a great daily car but Porsche has all you need. One thing that is awesome is the amount of space you have behind the seats to put stuff. Seen a guy go grocery shopping in a 911 Carrera before :rofl: Not that I would ever do something like this but it was funny seeing him pack all the stuff in there. He even had a ready made baked chicken and put it on the seat LOL.