Considerations For Purchasing A Used Ferrari
Merlin Auto Group Team July 2020
Purchasing a used Ferrari or exotic? There are many ways to purchase a vehicle, nowadays you don’t even have to enter the dealership. However, there are many things to consider and do beforehand to ensure you are getting the car you want.
First, and somewhat obvious, look at your needs. Is this Ferrari a want? Is it just for weekend fun, or is it a need? Does the used Ferrari FF need to accommodate the family? Then, fully research the vehicle online, are there good years and bad years? Some Ferrari models may have years that experienced issues in certain years. Look at customer reviews for the particular model you are looking at. Reading customer reviews is immensely helpful in gathering information and you should be able to determine quickly if the model has any quirks to note.
Once you’ve narrowed your decision down to what Ferrari you want, we recommend you look at a few more items. First, Carfax can be very helpful, but you need to know how to read one or else you could be passing up on a great car. Many people will only consider cars with a clean Carfax and this is not always the best method. This will greatly reduce the number of vehicles for you to consider and it will also remove vehicles that may have a Carfax due to a minor accident, such as hitting a parked car, or a minor scratch. These minor incidents will not cause major damage and could still be possible contenders for many buyers.
Once you have narrowed in on a few cars, contact the seller or dealership and ask for any service history they can provide. When you are purchasing a used Ferrari, it is pertinent to know when the last major service was done because a Ferrari service can be a considerable cost. Further, you don’t want to buy a car without knowing if it needs tires, brakes, etc. While researching the service history, be sure the dealership is equipped to sell the brand of exotic you are considering. Chances are a dealership that’s primary car is a Honda, will not know too much about a Ferrari service.
Pricing is the next step, once you have found and vetted the vehicle. There are numerous resources online that can help with this, such as KBB, but these sources can be more difficult to give accurate information when dealing with exotics, especially collectible ones. It can be helpful to visit chats and clubs specific to the brand you are shopping because many of the members are extremely knowledgeable. However, the one item we cannot stress enough in regards to pricing is to consider the service because this could affect your cost/price by tens of thousands.
We have heard from too many people that buying a car is something they dread. We hate hearing this because we believe that buying a Ferrari, especially if you love and appreciate them as we do, should be a fun experience that you will always remember. Hopefully, some of these tips will help you navigate the process a little and make it much more enjoyable.