What does a first time Ferrari buyer need to know? | Page 2 | FerrariChat

What does a first time Ferrari buyer need to know?

Discussion in 'Ferrari Discussion (not model specific)' started by SecretSquirrari, Dec 4, 2020.

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  1. SecretSquirrari

    SecretSquirrari Karting

    Dec 3, 2020
    118
    Chicagoland
    Full Name:
    J
    Thanks! I'm looking primarily at 2020 models, so I should be good on component age (and get the most remaining warranty and service). I hear you on winter tires - been doing that for years, and will make sure that I understand exactly what solutions are available, and how much the cost, before pulling the trigger.
     
    paulchua likes this.
  2. alex

    alex Formula Junior
    Silver Subscribed

    Dec 19, 2003
    674
    Crystal Lake, Illinois
    Full Name:
    Alex
    Oh, one more thing: weather permitting, drive it, drive it, drive it! These cars thrive on being used regularly.
     
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  3. RosoF1

    RosoF1 Rookie

    Dec 14, 2014
    17
    A lot of great comments already. While I always cast a wide net when searching for cars, with Ferrari in particular it is desirable to have a good relationship with your local dealer so you get invited to their events - these can be the absolute best way to enjoy your car. Do your research, but then visit the dealer - they may have more inventory and access than you realize (e.g some share the same ownership). That said, any dealer will be happy to service your car. Feel good about being a Used car client, that is how you typically join the family and get positioned for new car allocations. No wife yet, but do choose a car that a future partner will be happy to travel with you in - again, rallies and road trips are a huge part of the fun in a Ferrari. Finally, and I know many will disagree, keep your 1st Ferrari as a road car (i.e. there are better cars for track days - by that I mean ones with lower running costs). If you want to seriously track a Ferrari, buy a used Challenge Car - safer, faster and when you hit something, you just put another sticker over it (but do prepare for higher tire bills :). I had to learn the hard way to keep these two activities separate (i.e. damaged and depreciated my street cars).
     
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  4. RosoF1

    RosoF1 Rookie

    Dec 14, 2014
    17
    Sorry, I should have added: Sign up for the Corso Pilota Series - great instructors and you get to drive multiple, current-model Ferraris on real race tracks, while yours sits safely in the parking lot. Good value too as a big % of participants ultimately buy a car, so somewhat subsidized. Can even work you way up to a Challenge car. These courses are all over the US and world.
     
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  5. SecretSquirrari

    SecretSquirrari Karting

    Dec 3, 2020
    118
    Chicagoland
    Full Name:
    J
    My plan is for it to be my year-round daily driver, used for normal daily activities and longer road trips as well as weekend fun-road drives.

    Thanks. As I mentioned before, I do plan for an occasional HPDE, but I don't think I'll be back to the level of doing 8-12 days a year in this car. I want to strike a balance between the joy of track days and the hassle of dealing with a second vehicle, even if that balance includes scaling back track time.

    My plan is to call my local dealer tomorrow with questions about some of their listed cars (remaining warranty and service, extension options for both, winter wheel/tire options, pre-pick-up PPF options etc.) and, if I like the answers, go in for a visit Christmas week, or maybe the Saturday before.
     
    alex likes this.
  6. SecretSquirrari

    SecretSquirrari Karting

    Dec 3, 2020
    118
    Chicagoland
    Full Name:
    J
    Thanks, I'll definitely look into that.
     
  7. fedcoin

    fedcoin Formula Junior
    BANNED

    Mar 11, 2017
    311
    Continental is the best tire brand right now. It used to be Michelin but that was 25 years ago. If you've ridden and wrecked motorcycles or ATVs you know the best, durable, safest, longest lasting motorcycle tires are Continentals. Walk into any modern PowerSports Dealer service department and look at their tire rack. It's clear Continental is the highest quality tire available to the consumer market.

    The best tires, the best rubber are being sold to the US Military, you can't get them. Don't Worry About It.
     
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  8. Dukester

    Dukester Rookie

    Oct 20, 2016
    2
    Vicenza, Italy

    Congratulations on having the courage to chase your dreams and welcome to a truly unique experience. I’ve been a Ferrari owner (1980, 308 GTSI) for 5 years and here are my top 5 pieces of advice;

    1. What to buy? you’ll know it when you sit in it for the first time

    2. definitely have some $$$ set aside to perform maintenance and upgrades

    3. check the oil, check the oil, check the oil. You’ll want to know normal oil consumption rates for your model and when / why oil is being consumed if at all. These are indicators.

    4. remain as humble as possible while continuing to live the vision that Enzo started with these works of art. Remember that Enzo sold his entire home and property in Modena, Italy to fund his first “race car.” He risked it all and if you ever visit Modena, you’ll get a true appreciation of this.

    5. don’t forget the partners who helped keep Ferrari alive such as Shell, AGIP and FIAT just to name a few. I say this to drive home the point of keeping the magic within the purchase, driving and ownership experience. Its not just about having a “fast car,” you’ll represent a vision and also carry some of the historical burden of what it represents.

    welcome and enjoy!!!
     
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  9. Rick Weston

    Rick Weston Karting

    Mar 6, 2019
    126
    Full Name:
    Richard Weston
    They are amazing machines to buy, own and enjoy. Buy one to drive, not be a garage queen. A comprehensive pre-purchase inspection is paramount. These cars can be expensive to own. You want to know as much about the car's service history as you can find out and dealers have the records. If you buy from a 3rd party you may want to have a Ferrari dealer do the PPI. Newer cars are better as the TCO is improved by not having to remove the engine and drivetrain to do a timing belt change. Good luck!
     
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  10. victorg

    victorg Rookie

    May 2, 2017
    19
    San Antonio, TX
    Full Name:
    Victor Gonzalez
    Welcome to the rat race! 10,000-mile plus 7-year-old Ferraris tend to have depreciated the most because of odometer freaks and a lapse of the original manufacturer warranty. Had I known what I know now having owned six Ferraris both new and pre-owned over the course of the past three years, this is where I would have started. Have fun, post pictures and enjoy the process!
     
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  11. F12_vrooom

    F12_vrooom Rookie

    Dec 8, 2020
    22
    Seattle
    Full Name:
    Brandt U
    Congrats on your decision! I took delivery of my first F-car two weeks ago (long-time Porsche owner), and can strongly relate to your search process. I decided on a low mileage CPO F12 (extended pwr warranty included in price) in Grigio Silverstone from my local dealer. I had done a national search but too much of a hassle unless I was willing to buy sight unseen.

    Here are my learnings:
    1) having a great relationship w/my dealer to me was more important than exact spec match, so I placed big value on that so that I can get right treatment long-term. For example, my dealer let me take the car overnight so that my wife and I could have a mini-date night in it.

    2) While you can do an F12 / 812 daily, think hard on that one. I have my F12 as daily for next few months while daily driver car arrives. In just 2 weeks, I can tell it’s do-able but not simple. I got a rock chip in first week, I park WAAAYYY away from entrance to grocery store, it’s quite loud tire / road noise on bad pavement, etc.

    3) While you will miss some major depreciation buying CPO vs new, 2020 812s are still 350k+. Cheapest 2020 on cars.com is 370k (in FL), and in 2 yrs will likely be what, 260-280k retail (maybe they hold if last natural v12?), but miles is the number 1 factor in depreciation. Don’t get me wrong, I’ve done 400 miles in my car in 2 weeks. Drive it, but just a key consideration. Your car will have a lot more depreciation than my car.

    4) I’d suggest driving a 2016/17 F12 vs the 2020 812. If you do the F12 or an earlier 812, you’ll save a chunk vs 2020 and could get a daily for Chicago weather, Home Depot runs (if u need that), etc

    A lot depends on how long you will keep it. If you will keep it for years, get 2020. If you are more like me and switch out of cars in less than 2 yrs, do the math on your depreciation and see if u are ok and maybe that steers you to 2018 812 with 4K miles and 50k savings.

    good luck!!
     
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  12. SecretSquirrari

    SecretSquirrari Karting

    Dec 3, 2020
    118
    Chicagoland
    Full Name:
    J
    Huh. Some quick research seems to bear that out, at least for the winter tires I would be ordering first. I've had good luck in the past with the Pirelli winter tires, but it does seem like Contis are the way to go.

    This will be a daily driver - I always want to get the most out of my cars, which means driving them, and that's especially true at this price point.

    Nice to hear about the belt thing; that was one of the scariest things that came up as I did my research.

    Avoiding a depreciation hit would be nice. But I think I'll pay that price to get a newer car that's still got warranty (and included service left), that's certified by Ferrari, and that has lower mileage so that (hopefully) the previous owner has had less time to abuse it (winding it up before it warms up, etc.).

    Former Porsche owner here, too (991 911 Turbo S). I agree about dealer relationship, and would work with them even if there weren't any acceptable local cars. Luckily, my dealer has a couple of cars with specs that meet my needs. I admit to a little concern about the daily drivability of the 812 for the reasons you mention among others, and am also considering a Lusso as the fallback (I loved the way the FF looked, and love its evolution into the Lusso). But I suspect I'll be willing to tolerate the challenges of the 812 in order to get what looks to be the best available combination of sports car and GT car (at least for me). I do expect to the a beating on depreciation by the time I move on, but see my comment above on that. I expect to have this for 3-7 years -- a lot will depend on what cars come to market over that time frame, and how daily drivable the 812 (or Lusso) turn out to be.
     
  13. walman

    walman Rookie

    Sep 22, 2020
    35
    Vancouver, British Columbia, Canada
    Full Name:
    Wal Smith
    Welcome to the club! LOVE your forum handle! Wish I thought of that...
    I just became a first time Ferrari owner about 6 weeks ago and I also had many questions when I was thinking about buying a pre owned model. This forum is an amazing place. I too posted questions prior to my purchase looking for guidance and got tons of great feedback.

    Yes lots of things to factor in. Purchase price is one, but overall ownership costs YoY. I picked up a 2014 California 30. With the car having been in production for so long, I knew what to expect in terms of service and ownership issues reading through this forum and online. Certainly of great importance to find a one owner car with full service records and low mileage. And yes, if you can get a pre owned car, the money saved can now be earmarked for future service LOL.
    And speaking of service, I've always been a fan of dealing with small independent shops vs the dealership. I feel I get a more personal touch when I can chat with the shops owner or foreman right at the lift. Just had my brake lights re wired and the tech did an amazing job moving everything about. He opened up the trunk and showed me exactly what and how he did everything. I feel these independent shops are more passionate and caring IMHO.

    If you're looking at picking something up that's quite new, there probably won't be much in the way of kooky problems, issues or servicing at this point. But it's nice that you can search this forum for info. But if your car is still under warranty, then you don't have to sweat it too much.

    I live in Vancouver Canada. And I originally started my search in town, but 11 months later I wound up taking delivery of my car that I located across the country in Toronto.
    Fortunately for me, the car I located was only 20 minutes away from some family. So one weekend back in September, I had four sets of eyes descend upon the dealership to thoroughly inspect the car while I witnessed it all on a video call from the comfort of my home. Saved me a flight out!
    So definitely cast a wider net. Many years ago I brought in a car from Chicago that I found on ebay. You can't always get what you want in your locale.

    As for driving characteristics, you sound like a well-rounded, well trained driver at the moment. So you'll just need to get used to it. I added my Ferrari to my Porsche 997 Turbo Cab. And it is certainly much different than driving the Porsche. But I had test-driven a few Cali's in the past year so I knew what it was like. The steering is incredibly light and precise. And the carbon ceramic brakes require a feathers touch to stop. So six weeks later it's still taking some getting used to as I've never driven anything that felt this light before. Weird considering the car's weight. But I now understand it's a Ferrari characteristic. You read about it, but to feel it is something else. Maybe in Spring when it's warmer, I'll consider driving with drivers aid disabled. In a large open parking lot. With no one around me.

    Insurance is a big one to deal with depending where you are, how old you are, where you live and your driving record. I called multiple firms for quotes.
    I'm middle-aged and live in a decent neighborhood with a detached alarmed garage. So I think that helped me secure a fairly good rate that is only about 50% more than my daily driver Toyota Sienna work van.
    I was expecting it to be way higher! Probably worse if I parked in a condo parkade...

    I know Ferrari can provide me with an XT warranty at a cost of around $5,000/yr vs another quote I received from an independent broker that quotes around $5,000 for 4 years coverage. And before it runs out, I can renew it. Pretty much bumper to bumper coverage. So if you keep your car long term there are options to keep it under warranty.

    As for colors...I am partial to TDF Blue. I've always liked the GT cars in more understated/elegant colors vs yellow or red.

    Enjoy the hunt! So fun...the anticipation of knowing what you're eventually going to get is the best. Kept me up more than a few nights. Took 16 agonizing days to have the car delivered across country. Posted pics of the day it arrived.


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  14. SecretSquirrari

    SecretSquirrari Karting

    Dec 3, 2020
    118
    Chicagoland
    Full Name:
    J
    Thanks for the detailed response. I definitely bounce back and forth between national and local searches. So far, nothing far away appeals significantly more than several cars nearby. So I feel like I can probably get a local car but also have identified options farther away if the local cars don't work out. Yeah, the incredibly light steering does feature in all the reviews, so I'll be paying particular attention to that. I'll be curious to see how different Ferrari's carbo brakes are from Porsche's, which I really really liked. I may turn all the drivers off one time (as you say, in a large, empty, clear space) just to see the difference, but it wouldn't surprise me if that was the only time I did that in the entire time I own the car. I'm more than happy to leave the safety nets in place, since I've never personally felt the appeal of drifting and sliding, and certainly not in a vehicle this expensive.

    As for colors, I've always been a fan of silvers & metallic grays. My current car is a deep blue metallic, and I've really grown to like it (it was not my first choice, but it was on a car that was available that I otherwise liked). I definitely do not want bright red or yellow (a deeper red might be acceptable) as I really prefer an understated vehicle; I have no desire to draw stares.

    As for anticipation, agreed on both counts - the anticipation and looking at all the possibilities is fun (almost fun enough to delay purchasing to keep looking for an even better match to my needs and wants), but thinking through all the possibilities, and all the things to take care of, for any new car let alone a Ferrari, are definitely keeping my mind spinning at night. But in a good way - a Christmas-Eve-as-a-kid way.
     
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  15. walman

    walman Rookie

    Sep 22, 2020
    35
    Vancouver, British Columbia, Canada
    Full Name:
    Wal Smith
    On the one hand there is no rush or timeline to get the new toy. So we can take the time to hunt around. But on the other hand, once I got it in mind, I wanted it yesterday! :D

    Have you test driven any Ferrari yet? If not the 812, then something else to get a feel for the brakes and steering. maybe FF or F12? Nice to hear you also have/had the Porsche so you get where I'm coming from. I do really like the overall feel of the steering and brakes on the Porsche. The light Ferrari steering its going to take me a while to get a feel for it in the turns. I take the same routes in both cars, and both have the same Michelin Pilot Sport tires (that I LOVE) and I can certainly take the cloverleafs and off/om ramps way faster and confidently in the Porsche. The light steering doesn't have the same feedback so its going to take me a while to get good with it. Also, add in the long hood line vs almost nothing

    Ceramics feel really good at high speed braking. Tried them out last week when it was sunny and dry. I guess one will really appreciate them after multiple no fade hard braking attempts. One of the neatest things I noticed when washing the cars was NO BRAKE dust from ceramics. Porsche wheels are covered in black dust after two or three drives. So cleaning wheels is pretty much just a rinse with the hose on Ferrari. Nice.

    And something else I found out. I went to Vancouver Ferrari last week to request a print out of the service history records now that the car is here. But it turns out I have to request this from Toronto Ferrari as they were the original sellers and did the service work. The records are only partially viewable here in Vancouver. Not sure how that works for service records and history in the USA.

    And I was able to negotiate a pretty good deal. Yes most dealers were not looking to budge too much locally, but the folks I found back East were a bit more aggressive and willing to deal. I pitted them against another car I found at Ferrari of Ontario and had the two dealers fight it out :eek:
    Got the price down a bit and they included free transport across the country. getting later in the year I'm sure helped as well.

    Excited to see what you wind up getting. Post it for sure.
     
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  16. SecretSquirrari

    SecretSquirrari Karting

    Dec 3, 2020
    118
    Chicagoland
    Full Name:
    J
    Yeah, I'm definitely in the NOW NOW NOW phase. But I'm trying to be disciplined and follow the timeline I've laid out so that I ensure that I take the time to make the right choices.

    As for the Porsche Turbo S, I suspect that from a performance and practicality standpoint, it's actually a better GT, especially when you factor in the difference in acquisition and operation costs. But the Ferrari is, by all accounts, a far superior vehicle emotionally and sensually, in terms of the way it feels to drive, the way it makes you feel across the ownership and driving experiences, the sounds it makes (an NA V12 sounds so much better than a turbo-muffled flat 6), the art of the interior and exterior, and the materials used throughout. Porsche is brains, Ferrari is heart, and both bring a lot of muscle to bear. (At least, that's the way it seems to me from the outside looking in, based on the various reviews I've read.)
     
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  17. walman

    walman Rookie

    Sep 22, 2020
    35
    Vancouver, British Columbia, Canada
    Full Name:
    Wal Smith
    Wow, only 10%? Must be nice...

    Here in the socialist land of VANCOUVER, BC Canada, we now have to pay, what I like to call, a jealousy tax of 25% on cars costing over $150,000
    It drops to 20% between 125k and 150k
    15% under 125k, and bottoms out at a min of 12%

    This was brought in about two years ago. Brutal tax grab. I recall this rich guy bitching about the tax on his Bugatti being $500,000
     
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  18. walman

    walman Rookie

    Sep 22, 2020
    35
    Vancouver, British Columbia, Canada
    Full Name:
    Wal Smith
    Perfectly stated re Porsche v Ferrari!
    Driving the Ferrari is pure ecstasy. Exhaust note alone is worth the price of admission. I always drive with the top down so I can take in all the sound.

    Yeah I hear you about the discipline as well. I actually had a deal done back in early September, but the day before transfer, the owner reneged. She stated she just couldn't let it go. I was crushed. I was also really annoyed because I have gone through all the time and trouble to get to this point and then she pulled the rug out from under me. So I sadly agreed, and allowed her to return the deposit. But two days later, I messaged her and offered her an extra 10% to see if she would change her mind. I just didn't want to go and start from scratch again. She didn't go for it. Even though it was anoyoing have to search again and wait another couple of months, the car I got is superior to hers so its all good in the end. Patience is a virtue, but so hard to maintain when dealing with something as passionate as buying a first Ferrari!
     
  19. Bruce Foster

    Bruce Foster Rookie

    Oct 18, 2020
    9
    Full Name:
    Bruce
     
  20. Roger Johnson

    Roger Johnson Rookie

    Feb 23, 2020
    33
    Florida
    Full Name:
    Roger Johnson
    My father knew Bill Knauz for many years from the Alfa Romeo group and when he became a Ferrari dealer he called my dad and said 'Ive got 12 new cars, a parts inventory, and an Italian mechanic who cant speak English'. He gave my dad a new Dino to drive for a week and at the end of the week my father got a one week extension. The following week they returned the loaner and bought a new car.
     
  21. tbakowsky

    tbakowsky F1 World Champ
    Consultant Professional Ferrari Technician

    Sep 18, 2002
    19,347
    The Cold North
    Full Name:
    Tom
    Meh...ya want to play..ya gotta pay. That's the way it has always been and always will be.
     
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  22. Roger Johnson

    Roger Johnson Rookie

    Feb 23, 2020
    33
    Florida
    Full Name:
    Roger Johnson
    If you want to live in glorious socialist utopia one must pony up the cash.
     
  23. tomc

    tomc Two Time F1 World Champ

    Apr 13, 2014
    25,865
    DFW, Texas
    Full Name:
    Tom C
    Dude. Knocked it out of the park. At least you did, until you mentioned that you DD a Toyota Sienna! That's just not right...T
     
  24. Bruce Foster

    Bruce Foster Rookie

    Oct 18, 2020
    9
    Full Name:
    Bruce
    I just purchased my first, a California 30 from a dealer. We negotiated a price and I thought it was competitive. What really pleased me was the dealer provided at no additional cost a two year power warranty. I agree the search is much of the pleasure. If you don't enjoy it and rush it, you will miss a lot. Talk to people, particularly about the Ferrari that fits what you want. I doubt a dealer will allow you to have a car inspected elsewhere, but I could be wrong. I love coupes, but I just could not get the sound, so I chose a California.








    farrari dealers that I have met.
     
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  25. tbakowsky

    tbakowsky F1 World Champ
    Consultant Professional Ferrari Technician

    Sep 18, 2002
    19,347
    The Cold North
    Full Name:
    Tom
    Maybe you should get an education before you spout off about a country you know nothing about. How about that?
     
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