Considering 575 | Page 2 | FerrariChat

Considering 575

Discussion in '456/550/575' started by Chupacabra, Dec 18, 2017.

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  1. Bluebottle

    Bluebottle F1 Veteran
    Silver Subscribed

    Oct 15, 2012
    7,699
    Newbury, Berkshire, England
    Full Name:
    John
    Maybe you should move to the UK: my premium this year was £3,400, for all 10 vehicles including the DDs, no mileage restrictions.
     
  2. Chupacabra

    Chupacabra F1 Rookie
    Owner Rossa Subscribed

    Sep 30, 2005
    3,213
    Behind a drum kit
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    Mr. Chupacabra
    Hmm, thanks for the tip!
     
  3. F355 Fan 82

    F355 Fan 82 F1 Veteran

    Jul 22, 2006
    9,063
    state farm just upped my value to $141,900 based on the appraisal I had done, premium in at $523 every 6 months for 2500 miles a year, its still not agreed value but if you're gonna have a mediocre policy you may as well pay as little as possible. So unless farmer is giving you agreed value, then check out state farm and ask to be in their collector car group.
     
  4. F355 Fan 82

    F355 Fan 82 F1 Veteran

    Jul 22, 2006
    9,063
    it is and it isn't, try to understand the difference between agreed value and actual cash value. If you're driving a rare machine like this, market value can fluctuate drastically from a red/tan to a black/black car. You can't leave it up to an adjuster to give you fair market value when you have a rare machine. I can't imagine how state farm would value a 2002 575 with a stick. Either way the reason you pay so much with hagerty,chubb,american collectors is bc you dictate the price you get, if they agree to it. When you're with state farm, which I reluctantly have to use bc the classic companies wont insure me, you're paying way less but leaving an accident and the value you get up to fate.
     
  5. fatbillybob

    fatbillybob Two Time F1 World Champ
    Consultant Owner

    Aug 10, 2002
    26,294
    socal
    Only bother with full insurance if you don't own the car. Liability is what you need. What is the risk per mile? How much are these cars really driven? To have a total loss you have to be at fault. Guy got no insurance your uninsured motorist pays for it. If it is his fault his insurance pays for it. So I got a 2/3's chance of 100% payout even if I carry liability only. I've done that over 40 years having a minimum of 4 cars no wrecks in my family of 3. I have saved so much money not paying insurance co's that I can get a free Ferrari by now.

    Watch out for stated value vs. ACV. Watch for fine print where you have a stated value but the policy reads SV or ACV whichever is lower! ACV is a way to cheat you while you think you are fully covered. ACV will pay you low wholesale for your car which is a price you can't re-buy your car for on the open retail market.

    Think of it this way. Insurance companies always win. They own the big buildings. You can't live your life without their hand in your pocket if you have any assets. You can divorce your wife but the IRS and insurance companies will always be your silent partners.
     
  6. ferraridriver

    ferraridriver F1 Rookie

    Aug 8, 2002
    4,134
    Bay Area Calif.
    Full Name:
    Dave
    Might be worth giving Leland West a call, can't hurt
     
  7. srslusso

    srslusso Formula Junior

    Mar 17, 2005
    874
    Encino,Ca.
    Full Name:
    Steve S.
    CallGrundy insurance ask for SAM
     
  8. luca's308gts

    luca's308gts Karting

    Dec 16, 2016
    81
    Minneapolis
    Full Name:
    Bill
    Have you tried American Collectors, I'm paying $2,400 for a 550, a 911, a 993, an Alfa Spyder, and a XKR
     
  9. F355 Fan 82

    F355 Fan 82 F1 Veteran

    Jul 22, 2006
    9,063
    American collectors also rejected me on the basis of a condo + when asked what I was gonna use the car for I accidentally said just driving and dinner, the woman was flabbergasted and told me she didn't think it would work bc the car couldn't be used to go to dinner thats what I remember specifically about american classic. What's funny is there are no joke maybe 30 exotic cars in this particular condo garage so they are either insured with something mediocre like state farm/allstate or registered at another home of the owners. Not a single one of these collector car companies was willing to even consider a collector car. Trust me, do not ever ever ever register an exotic to a condo. I can fix it all right now and pay $3800 to register it to my house in texas but I think that is just flat dumb so Im riding with all state for the time being, I will probably just sell this 575 in a few months and get something else and next time register it to my house in texas and just leave it miami, all the collector car companies said its fine to register it in one place and send it to your vacation home as long as you dont live there. See the problem is also when you're at your vacation home, they want 1 car for each person in the household besides the Ferrari. Im engaged, not married, but fiancee shows up as a person in the household and my vacation home has only 1 other car besides my ferrari. Quite ridiculous bc most people would probably just uber at their vacation homes today and I have 2 cars, but its not enough bc my fiancee also needs a car of her own...at the vacation home....for collector car companies to insure us. Her having a car back in texas is irrelevant and uber doesn't count as a means of transportation at your vacation home.
     
  10. toparkt

    toparkt Formula Junior
    Rossa Subscribed

    Oct 20, 2006
    541
    orange county
    Full Name:
    Andrew Goetz
    I have a low miles TDF BLUE 575 (under 15k miles) My car was well cared for with up to date service. This did not stop a fast 10k in new service items .
    Small leak at transmission was known and a reasonable fix. New clutch -( was at 30% so this was voluntary) . The surprise was new fuel pumps. Factory plastic
    (used in production) subject to deterioration - with USA fuel mixtures. New plastic is yellow -, old white. Also hoses subject to upgrades - look for green strips.
    Lots of other factory "bulletins" to keep 575 healthy and happy.
     
  11. F355 Fan 82

    F355 Fan 82 F1 Veteran

    Jul 22, 2006
    9,063
    Im assuming your service was done at a ferrari dealer? See the thing is a good indy shop is $90/hour here, the one i use is, and the collection(miami ferrari dealer) is near $200/hr for that. So on that alone 30 hours is an extra $3k. Then Ferrari charges you so much more for every little thing. The tire pressure sensors in the 575 last 5-6 years and cost $300/each at the dealer, i had other sensors done at $125/piece. Ferrari dealer is a cool place but in my honest opinion they really hurt themselves in the long run. I was talking with my indy who was a tech at a big ferrari shop and he said the new cars require way less maintenance and the guys with older cars know the dealer is too expensive and go to indy shops. So Ferrari actually hurt itself by overcharging people all the years bc now the bread and butter older, hard to work on cars maintenance wise they're being done at other places now
     
  12. toparkt

    toparkt Formula Junior
    Rossa Subscribed

    Oct 20, 2006
    541
    orange county
    Full Name:
    Andrew Goetz
     
  13. toparkt

    toparkt Formula Junior
    Rossa Subscribed

    Oct 20, 2006
    541
    orange county
    Full Name:
    Andrew Goetz
    NOPE

    WELL KNOWN AND RESPECTED INDEPENDENT SHOP
    (HE COULD CHARGE 200/HR AND I WOULD BE GLAD TO PAY)
     
  14. stevepaa

    stevepaa Formula Junior
    Owner Silver Subscribed

    Apr 5, 2006
    703
    san jose, ca
    Full Name:
    steve

    Larry on Collins ave?
     
  15. F456M

    F456M F1 Rookie

    Jan 8, 2010
    3,665
    Oslo
    Full Name:
    Erik
    Driveboth the 550 and the 575. The 575 is a bit more "refined" in the ride and has better fit and finish inside. I have a 550 myself now since 2013 and that car IS NOT FOR SALE. It is just the kind of car I want to keep for the rest of my life! It is rock solid at 200 mph. so that should be good enough for most everybody. Let us know when you get her.... And as you will have it in the states where gas is almost free, the consumption is nothing to considder. :)

    About your Insurance.. Have you tried Progressive Insurance? My 550 is insured in Sweden for 1.200 dollar per year for a 10.000 miles yearly distance. Require a tracker though.
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  16. Chupacabra

    Chupacabra F1 Rookie
    Owner Rossa Subscribed

    Sep 30, 2005
    3,213
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    Mr. Chupacabra
    I actually pulled the trigger on the 575 :) ended up getting a great quote from Grundy; they already have my 348. I’m stoked!
     
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  17. F456M

    F456M F1 Rookie

    Jan 8, 2010
    3,665
    Oslo
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    Erik
    Congratulations!! Show us a picture. It is totally addictive. And the sound that these cars can make with some good sounding exhaust on it is worth the price itself. Again, good to hear you went for a Maranello. I think it is more sexy than a 599 just like you wrote earlier. 100% :-D
     
  18. Chupacabra

    Chupacabra F1 Rookie
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    Sep 30, 2005
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    Thanks!! For sure - not knocking the 599 at all, but the Maranello is just classically gorgeous, IMO. Like they updated the 275 and put it on a weight training regimen. Love it!
     
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  19. F456M

    F456M F1 Rookie

    Jan 8, 2010
    3,665
    Oslo
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    Erik
    Did you Konow that a 250-style grill was optional for the 575?
     
  20. Chupacabra

    Chupacabra F1 Rookie
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    I did not, but now that you mention it I think I've seen a few that are so equipped!
     
  21. tazandjan

    tazandjan Three Time F1 World Champ
    Lifetime Rossa Owner

    Jul 19, 2008
    37,986
    Clarksville, Tennessee
    Full Name:
    Terry H Phillips
    Affirmative, 250 GT grille optional on early 575Ms and standard on later models. Became standard about the same time they started putting the 575M script on the back in mid-late CY 2003.
     
  22. Jürgen Geisler

    Jürgen Geisler Formula Junior

    Jan 16, 2015
    945
    Good old Europe
    Full Name:
    Jürgen
    Erik, these wheels fit the car's design so well.... ;-)
     
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  23. F456M

    F456M F1 Rookie

    Jan 8, 2010
    3,665
    Oslo
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    Erik
    #48 F456M, Jan 17, 2018
    Last edited: Jan 17, 2018
    I agree, and they accentuate the already superb design of everything else, instead of being "the cool part of the car". For a F12 they woud be way too boring, but that is more of a hot rod... and doesn't even have a Pininfarina badge :)


    Sent from my iPhone using FerrariChat.com mobile app
     
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  24. toparkt

    toparkt Formula Junior
    Rossa Subscribed

    Oct 20, 2006
    541
    orange county
    Full Name:
    Andrew Goetz
    ENZO MOTORS
     
  25. Chupacabra

    Chupacabra F1 Rookie
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    Sep 30, 2005
    3,213
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    Mr. Chupacabra
    She'll be here Sunday afternoon! STOKED!
     
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