Finding a Good Deal: Is It a Good Idea to Go After the Cheapest Ferrari You Can Find?
Ferrari sold about 8,400 new models last year, making this brand one of the most sought-after high-end sports cars in the world. Since producing its first official model back in 1947, the Italian manufacturer has been continually rising through the ranks and building a reputation for quality, speed, and handling. Because of this, countless people have had their eyes on cars bearing the brand’s signature emblem, and many have high hopes of finding one priced within their modest budgets.
Although some reasonably priced used Ferraris are out there just waiting for the right buyer to come along, jumping on the cheapest one you can find isn’t always a good move. The car gurus at www.webuyexotics.com are quick to warn against mistaking a cheap price for a good deal. Plenty of factors could be driving the discounts on those too-good-to-be-true listings.
Low-Demand Models
Ferraris are unquestionably in high demand and have been gaining popularity since the first one made its way into the public eye more than 70 years ago. As opposed to vehicles from numerous other manufacturers, many Ferraris carry high resale values regardless of their age. Of course, not all fit into this mold. Over the years, a select few models have failed to live up to the standards people have come to expect from the Ferrari name.
One prime example would be 1989 348. Though owners have few complaints from this model, it just isn’t the most popular in the Ferrari lineup because it was largely overshadowed by the Acura NSX. The Dino 308 GT4 gets a lot of negative attention as well. Many Ferrari fanatics feel the model doesn’t live up to the automaker’s name, and being a four-seater doesn’t help its image.
Poor Condition
It’s no secret condition that has a significant impact on a vehicle’s resale value no matter which manufacturer was behind its creation. If you find a popular Ferrari model for sale at or below $30,000, the chances are it has either been wrecked or run to death. Cosmetic issues can be hidden or repaired, but performance machines like these never run or handle quite the same once they’ve been in an accident.
If you’re unsure about the past life of a vehicle, don’t hesitate to check the facts. One way to do this is by running the vehicle identification number through a website like VINCheckPro. Although there’s no charge for obtaining basic details from this site, more in-depth information like accident history, title status, and actual odometer reading come at a price. Still, $10 or $15 isn’t much to ask considering the possible long-term costs of forgoing research.
Problematic Models
Just as some of Ferrari’s offerings weren’t very popular among the public, certain ones are known for giving problems right from the start. Models like the 400i, the 355 F1 Spider, and the 348 have developed somewhat of a reputation for breaking down. If you find one of these at a rock-bottom price, the owner is probably selling it because he or she can’t afford to keep it running any longer. Paying to remedy any current issues with the car and those cropping up in the future will fall on your shoulders.
Bottom Line
Finding a cheap Ferrari doesn’t necessarily mean you’ve stumbled on a good deal. This manufacturer makes roughly $80,000 in profit for each new vehicle sold according to a recent news write-up. Popular models in good condition both inside and out don’t typically sell for much less than that because they easily hold their resale value.
If you find a Ferrari for an unbelievably low price, it’s advisable to think twice and do your homework before handing over any money. Remember, the owner is selling it for a reason. You don’t want to find what that reason is after it’s too late to save yourself a great deal of heartache and hard-earned money.
Similar Posts:
- None Found
