I have located a 2017 488 GTB with less than 1000 miles that was involved in i one of the recent floods. I tracked down the previous owner and he shared pics and videos of where the water rose to. It was dead center of the center cap. It barely got onto the seat. The car was in the garage, so no debris got to it. And it was never started. Owner stated lights were flashing and killed battery. Battery never got as high as the Battery. I looked at the car today and it is absolutely flawless and still smells new. Battery is dead, I put a jump box on and I was able to get interior lights, instrument cluster and hazards to come on before jumpbox died. Would you try and buy car? What would you think a good price would be? Would I have a hard time selling? Any idea on what repairs would be needed? Any idea if factory warranty would be affected? I was told there are a couple body control modules under the carpet that will probably need to be replaced Many thanks in advance.
Personally, I would never buy a flood car. Water and unprotected electronics don't mix. The car would have to come at a SERIOUS discount to even consider it as you don't have any idea what was actually damaged nor when the gremlins will show up. As SoCal said, there are so many of them around, why take this chance. IMHO, replacing control modules will get really expensive, really fast. Just my .02
Even if the water barely got into the carpet Any idea what is under the carpet. If I drove it trouble free for the next six months or a year with that help value
I would try and negotiate a great price for it and only pay for it after a full ferrari inspection. At the end of the day it's worth something to someone just don't be the one taking a hit. Sent from my HTC U11 using Tapatalk
The 488 without flood history hasn't come close to hitting its long-term depreciated value. You'd still lose on that if you were to buy now on top of the flood history. I bet the price you pay for this now is what a clean depreciated 488 would be in a few years. Makes no sense to get the car sooner at the same price by adding in flood problems. If it was fully depreciated already and a big discount on top... sure take the risk. Or convert to track only.
Every single person on this thread has said don’t do it. Every single person is a potential buyer when you try to sell the car. None of us would buy the car based on the flood history. You still want the car after all this?
The previous owner had a picture of the water up to the center cap. Water levels recede after a flood. The owner probably evacuated his home before the flood hit. My guess was the water was higher than the picture.
Why is this even a topic of discussion? Lol Hey- I’m selling my Ferrari. It was in a flood. Wanna buy it? No!
I would not be buying car from the owner The insurance company owned the car now He has nothing to gain by lying QUOTE="SoCal to az, post: 145739135, member: 127038"]Why is this even a topic of discussion? Lol Hey- I’m selling my Ferrari. It was in a flood. Wanna buy it? No![/QUOTE]
OP I wouldn't advise touching a flood damaged car unless non flood damaged was out of financial reach. That said, any assumed savings would be found short lived. It would be only a matter of time before that situation is realized.
flood damage car = voided warranty and not insurable for comprehensive. with that said, a *fresh* water flood car can last forever (electronics may not be affected) i still wouldnt buy it. Insurance company expects it to go as a parts car...
It will be extreamly hard to sell in the second hand market. Anybody with a brain would not buy this car. Do you have any idea what these cars cost to fix and how picky most ferrari buyers are when purchasing second hand? I would never buy a car that did not have a pristine history. When I hear a Ferrari has accident history that is already bad ... salvage title or flood history is 10 times worst! Makes me lose my appetite actually!
What are they asking for the car? And how much is to completely replace all electronics and wiring, plus any other parts that you think would have been compromised? Sent from my iPad using FerrariChat
Years ago I invested in a company that did just what you are attempting to do....take advantage of a flood damaged vehicle from a price point that you would not be able to "normally" be at. You had five questions prior to the responses and the last two are critical before even addressing the first three. Get the last two answered and the price of the car and then come back and ask these folks the same question. Most will probably give you the same answer but at that point YOU have the information YOU need top make a decision. No one on this site is spending your money. And btw...the company that I invested in did pretty well and was very, very talented in bringing back cars from a watery grave but it should be noted that they never dealt with a supercar like the Ferrari...but if the price point is right and the prospect of a virtually impossible secondary sale of the car when you are ready to get out of it..this might actually be a doable deal. As they say at Disneyworld.."there's an a$$ for every seat"(or maybe it was "there better be an a$$ in every seat") so maybe yours is the one for this washed-by-the-hand-of-God car. Keep us updated...would certainly be an interesting story.
