575M purchase advice

[jpmondalek]

Hi guys,

I'm assisting my childhood friend in obtaining his dream car, a 575M, here in Dubai and was hoping to share some details on an example I found and obtain helpful feedback/advice from the community.

See below link for pictures:

http://www.dealsonwheels.ae/car-2004-ferrari-575m-maranello-gtc-dubai-uae-956.html

1) VIN# ZFFBT55B000132167 (how can I get original build sheet data?)
2) 2-owner car, painted orange by first owner then back to original Nero Daytona by previous owner
3) 27,000km (8k by first owner and 19k by second in last 2 years)
4) Have receipts for $40k spent on the following mods: Stebro Exhaust + X-pipe, OZ Boticelli III wheels, Bilstein Race Suspension, Brembo Big Brake Kit, New interior riden in for only 1k km (see pics), Stereo
5) Only one key fob (how difficult/expensive is it to get spares? Is it possible to delete alarm and make copies of the keys?)
6) Suspension error light and probably TPMS on (is car rejecting the aftermarket setup? can this be cleared?)
7) A/C fan speed adjustment knob doesn't work (blows on high speed all the time)
8) Original wheels (non-modular type) come with car and have been shed with brand new Michelin Pilots - these are back on the car (OZ's are in storage)
9) Seller claims new clutch and timing belt installed in Oct'10 , with less than 5k km driven since installation (is the timing belt ok for 5 years?)
10) Seller claims car has never been involved in an accident

I have sent the car for an initial inspection by a reputable independent Ferrari mechanic with the necessary diagnostic equipment. See attached.

I have negotiated the price down to less than $63k (used sports car market here is very robust in terms of supply so prices don't hold on "older" models).

Thoughts? Anything in particular I should have my mechanic focus on?

The deal is done assuming a clean bill of health at time of purchase.

Thanks!

JP

 

[lozcb]

Seems to me $63K or less for a 575M is well cheap compared to UK prices which are themselves generally lower, and that one looks to be reasonably well cared for


regards loz

 

[ENZ525]

Hi guys,

I'm assisting my childhood friend in obtaining his dream car, a 575M, here in Dubai and was hoping to share some details on an example I found and obtain helpful feedback/advice from the community.

See below link for pictures:

http://www.dealsonwheels.ae/car-2004-ferrari-575m-maranello-gtc-dubai-uae-956.html

1) VIN# ZFFBT55B000132167 (how can I get original build sheet data?)
2) 2-owner car, painted orange by first owner then back to original Nero Daytona by previous owner
3) 27,000km (8k by first owner and 19k by second in last 2 years)
4) Have receipts for $40k spent on the following mods: Stebro Exhaust + X-pipe, OZ Boticelli III wheels, Bilstein Race Suspension, Brembo Big Brake Kit, New interior riden in for only 1k km (see pics), Stereo
5) Only one key fob (how difficult/expensive is it to get spares? Is it possible to delete alarm and make copies of the keys?)
6) Suspension error light and probably TPMS on (is car rejecting the aftermarket setup? can this be cleared?)
7) A/C fan speed adjustment knob doesn't work (blows on high speed all the time)
8) Original wheels (non-modular type) come with car and have been shed with brand new Michelin Pilots - these are back on the car (OZ's are in storage)
9) Seller claims new clutch and timing belt installed in Oct'10 , with less than 5k km driven since installation (is the timing belt ok for 5 years?)
10) Seller claims car has never been involved in an accident

I have sent the car for an initial inspection by a reputable independent Ferrari mechanic with the necessary diagnostic equipment. See attached.

I have negotiated the price down to less than $63k (used sports car market here is very robust in terms of supply so prices don't hold on "older" models).

Thoughts? Anything in particular I should have my mechanic focus on?

The deal is done assuming a clean bill of health at time of purchase.

Thanks!

JP

Hi JP,
Will try to answer some questions as best I can...
1) VIN# ZFFBT55B000132167 (how can I get original build sheet data?)
Get in touch with Mandy Nova at Maranello's, (or someone at a Ferrari dealership that has modis),
by entering the VIN, they can send you the build details, paint codes, options etc.
Tony Willis runs the Maranello Concessionaires Archive here in the UK and has a lot of info, but I doubt it would cover a late(ish) car.
2) 2-owner car, painted orange by first owner then back to original Nero Daytona by previous owner
The inspection should pick up quality of fit/finish
3) 27,000km (8k by first owner and 19k by second in last 2 years)
Condition more important than miles (in my opinion both low and high) again, inspection will pick up on any work that needs doing due to non use.
4) Have receipts for $40k spent on the following mods: Stebro Exhaust + X-pipe, OZ Boticelli III wheels, Bilstein Race Suspension, Brembo Big Brake Kit, New interior riden in for only 1k km (see pics), Stereo.
Lot of money spent on mods, to personalize for previous owner...as long as you (or your friend) like it, that's fine...but non standard cars may be harder to sell later.
5) Only one key fob (how difficult/expensive is it to get spares? Is it possible to delete alarm and make copies of the keys?)
It is possible and not hugely expensive, relatively speaking...believe it can be done for couple hundred $ (I have the recode procedure in a doc, can send if you want.
6) Suspension error light and probably TPMS on (is car rejecting the aftermarket setup? can this be cleared?)
Tricky...has new suspension and sounds like the bilsteins are not communication with the ECUs properly...good news is that I believe these are not handed on the 575,
in other words they are the same left and right...may be that one is bad...maybe need more than one, this could be expensive. If it was just a reset, surely it would have been done...
I would say this is one of the items that needs close attention on the inspection.
BTW, the suspension light may come on if you start and stop the engine 3 times without moving...but on the next self-check it should go out if all is well.
7) A/C fan speed adjustment knob doesn't work (blows on high speed all the time).
Sounds like some sort of short...may be able to repair, or may need new a/c panel.
8) Original wheels (non-modular type) come with car and have been shed with brand new Michelin Pilots - these are back on the car (OZ's are in storage)
Great that the originals are there.
9) Seller claims new clutch and timing belt installed in Oct'10 , with less than 5k km driven since installation (is the timing belt ok for 5 years?)
Clutch and belt shouild be in service history/receipts so can check on exact time and kilometers replaced.
Recommendation for belt change on 575 is 5 years, but check the assembly number...550s come with 3 year belts, the change was at assembly number 43847, so check this.
(my 550 is assembly number 38309)
10) Seller claims car has never been involved in an accident
Not sure how this is checked in Dubai...here in the uk we have databases that can be enquired upon to see if an insurance company has logged an accident.
Good luck,
Regards,
Enzo.

 

[jpmondalek]

Cheers Enzo! Will report soon with an update.

 

[jpmondalek]

Update:

Deal has been consummated, and my friend is trading in his Mercedes AMG C63 for this beauty plus GBP 10,000. Not bad, eh?

Car came up with the following in inspection:

1) Window washer tank was broken and sensor required cleaning (hence the error light on dash)
2) Bilstein race suspension does not hook up to Ferrari skyhook system, hence permanent error (any ideas here would be greatly appreciated)
3) Battery draining due to faulty starter motor (not the after market stereo!)
4) Paint is correct and tech recognized the car and said previous attempt to re-spray was awful but this was much much better. Looks good to the layman (i.e. me). Also no evidence of accident anywhere.
5) Some interior bits needed minor fitment adjusting
6) A/C regulator needed to be replaced and we obtained a used A/C panel from a breaker 575 off Eurospares
7) Number plate lights weren't working and were fixed (ok, now i'm getting into the non material stuff)

But you get the drift, car is clean.

Car should be ready this week and will share photos soon.

Cheers,

 

[Woody]

Congrats JP. Looking forward to the pics....575 is on the lottery list.