Sending 550 to PPI: Advice?

Assume this is the car?

https://www.ferrarichat.com/forum/threads/99-550-maranello.578806/

 

Nothing to get nervous about....if you own a 90s Italian V-12 for any length of time, you WILL have a 5 figure repair bill. My first one came in 2017, a little less than 3 years into ownership. The good news is that the new 2012 Gallardo I almost bought instead has depreciated over $100k in 5.5 years.

On your other issue, I tried to by a US car based in Canada 5 years ago and it was not going to be as easy as driving across the border....

 

50000 miles is not high mileage for a 20 year old car nor for that engine - 'spotty' maintenance is your call but without further information the most recent services are the most important

 

Buy it!

 

These cars are getting older. Even if the car is current on scheduled maintenance there is still plenty that needs fixing. I just replaced all my bushings motor and tranny mounts.

Find the thread on Braden major service.

 

If you want to do some honest IMO budgeting, I would plan on $3k per year plus $7,000 for a major service every 5 years. So $22k every 5 years.

My personal maintenance expenditures for 4 .5 years of Diablo service is $29,885. Some of that was cosmetic (not uncommon for a 19 year old car), spent some good money replacing all the rubber suspension stuff like Scowman did, and a $13k service was an engine out for a full reseal of all rubber-type parts that had started to leak or degraded over time.

But even though this seems like a lot of money, it's just a fraction of new exotic depreciation, AND doing comprehensive maintenance adds back value when you go to sell it.

 

The problem with 550s are all the bitza pieces, hoses, mounts, a/c, gas tank seals, and on and on. These items typically don’t get caught in a PPI. If I ever buy another one, which is unlikely, the first thing I’d do is ship it directly to a reputable shop with a $10k budget. Motors and transmissions are robust. Everything else is junk Pep Boys would be embarrassed to throw in their dumpster.


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If I were buying a 550 I would prefer one either needing the major service or having just had it from a reputable shop. The cars which had service a couple years ago are the ones most likely to be in need of something that will bug you. Everything is so tightly packaged that say you have an intake manifold leak 1/2 the motor top comes out =$$. Or the valley hose goes same stuff needs removal=$$. You loose a water pump hours of work getting all the stuff in front of the water pump out =$$. Even changing the oil requires car on lift with clearance for the front undertray and you got oil draining from 4 points. A contortionist can change oil on jackstands but I'm not 22 y/o anymore.

That said service with attention to detail pays dividends in years of flawless painfree running.

 

As FBB illustrates, repairs can be very involved in parts, time and labor. It just goes with the territory. Bottom line: these cars require a commitment of $$ and effort to own and properly maintain to a high standard. But done right and consistently you'll stand to get it back out if/when you eventually sell the car.

A PPI by a reputable shop that knows Ferraris is a necessity, but will only show what's wrong with a car currently, and only to the extent they look into things beyond cosmetics and major mechanicals. If buying from afar and you can't drive the car yourself you'll want them to drive the car as part of the PPI to help uncover any issues that a static PPI won't reveal.

 

I think I'd rather trust a professional PPI than those 3 suggestions

 

Im not a beliver in the ppi. I have never bought a ferrari wi th one. I think buyers should learn about the model and not rely on others. These cars are not more involved imo. They have lots of parts as V12s. The plenum for example is huge and takes 2 guys or tools to get it off the motor. DIY on this car requires you pay attention thats all. There's 1 pound of various sized nuts and bolts just in the 6 part front engine covers.

 

No disrespect intended, but that is BAD advice for 98.3% of exotic buyers. I'm supposed to fly accross the country, take a bunch of tools and do my own compression and leakdown test? Or find a rack to put it on so I can look over the under carraige? And do all this while under the golden mist of car buying excitement?

 

Yes, you can get a yearly fluid change and inspection for $1,600. But do not FOR A MINUTE think that is all that will need attention on a 20 year old car.

Special cars for special owners....

 

If you knew the models you would know only 1 model needs a leakdown and compression test, and the results of that test on that model are quite spurious. The concept of the LD and Compression test did not exist before the 355 and its many ills. Many shops will not do a PPI because of how worthless they are and how little perspective owner understand them. A PPI is more blue sky rainbows and sunshine than anything else. A PPI is false confidence so you feel good about buying a USED car the PO does not want anymore. You are hot to buy it but the guy selling it just wants his pain to end at minimal headache to him.

I also have very little respect for "complete records." That's right more blasphemy from me! 99% of owner have no clue what the records tell them. Sure the records tell a story but sometimes not what you think. Records say something was done but that is about it. What matters is the condition now. The 550 I own now cost the 2 PO's lots of money. It was in the records. The last PO unloaded the car on me because he could not take it anymore and now drives a reliable Porsche. The records show that on at least 1 major issue 2 different "respected" pros fixed the symptoms of the same problem but never the cause. That cause was the final straw to the PO. I fixed it, not the symptoms, and other small things along with an aggressive major service, the definition of which, does not exist in the Ferrari WSM. My 550 has been flawless in the many years of my ownership. The 550 and the 328 are the 2 most reliable Ferraris ever but they can cost you a fortune too just like any of the other models.

Perspective non-Ferrari owners are their own worst enemy. We see it on the pages of Fchat all the time. They have no idea what they are getting into and the honeymoon is over quickly. All too often their 2nd post after their 1st post "dream realized" goes something like "XYZ, has anyone heard about this problem?" Perspective owners need to learn about their target models. Expectations need to be realistic and purchase price reflect that expectation so that value is there.

 

Correct me if I'm wrong but didn't 456's have a valve guide problem too?

I've bought 3 Ferrari's (two sight unseen) and 2 Maserati's - no professional PPI's

Depending on the car, price, miles, history, a professional PPI is invaluable.

I did a PPI on a 355 for a friend. Supposed 5K mile car. The car was likely way more than 5K miles and doing that PPI saved my buddy from buying a less than advertised car.

Each situation is unique as well as the buyer.

 

Its often been said "buy the best car you can afford" and something along the lines that "the most expensive Ferrari is the one that is the cheapest". I had a 308 QV for almost 30 years and while I got to know it well I used the local Minneapolis independents to do the real service; however I did learn about Ferraris. I sold the car and moved to a 550. As advised here I spent months just getting to understand 550s and mostly from this site. I ended up buying a Fchat member's car. It had extensive maintenance and was fully documented here, pictures and all ('sorting thread' by Moorefan) with assistance from some of the people how have posted here.
I had no reason to waste money on a PPI.
Bottom line I absolutely knew what had been done to my car - the more you actually know the better chance you have of getting a good car.

Good luck

 

Good post. And to your point, if purchasing from a private seller it’s invaluable to get to know the owner. Those of us who have been in this thing for awhile can usually tell if the history and story on the car is dependable. As you say supportive documentation should be readily available for an honest car. And don’t let mileage on a car scare you away. I recently looked at a Ferrari that the dealer claimed to have 15K miles. It was in such horrendous condition I wouldn’t take it for free let alone pay what the dealer was asking for it. Be very cautious when dealing with these so-called authorized Ferrari dealerships. The best cars out there deserve a slightly higher premium and they’re worth it. Don’t try to nickel and dime to save a few bucks. The old adage “you get what you pay for” really holds true when purchasing a pre-owned Ferrari.

 

Don’t believe a word what FBB says about PPIs. He is bored savant who field strips a F550 transmission using only a vice grip and a hammer. He also manufactures his own engine oil.

The rest of us need a PPI. But you should have a clear understanding of the scope of services. A checklist is handy, but an email describing what will and will not be done will work.


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