Salvage 550 advice please.
Discussion
Any advice you guys can offer from your impressive Ferrari knowledge would be greatly appreciated.
A good friend who is an accountant has a client who specialzes in car salvage.At the moment he has a '98 S plate 550 Maranello with 29k miles in silver.
Apparently this car is "lightly" damaged with damage from a side impact to the nearside door.
The car is offered at £35-40k and apparently requires £10k work.
My friend is getting quite excited about the car,he doesn't know the HPI classification at the moment which doesn't help.he figures he will get a great car for under £50k.
Personally 550 aside which I think is a fantastic car,I really do not like fast repaired cars.I figure in the current climate a good car would sell for say £70k.I do not think that £20k under for a repaired 199 mph car is enough and would leave well alone.
What do you guys think is there any market for repaired Ferrari....I apologise for not having correct accident classification which obviously makes a big difference.
cheers...
>>> Edited by clubsport on Sunday 9th February 18:53
A good friend who is an accountant has a client who specialzes in car salvage.At the moment he has a '98 S plate 550 Maranello with 29k miles in silver.
Apparently this car is "lightly" damaged with damage from a side impact to the nearside door.
The car is offered at £35-40k and apparently requires £10k work.
My friend is getting quite excited about the car,he doesn't know the HPI classification at the moment which doesn't help.he figures he will get a great car for under £50k.
Personally 550 aside which I think is a fantastic car,I really do not like fast repaired cars.I figure in the current climate a good car would sell for say £70k.I do not think that £20k under for a repaired 199 mph car is enough and would leave well alone.
What do you guys think is there any market for repaired Ferrari....I apologise for not having correct accident classification which obviously makes a big difference.
cheers...
>>> Edited by clubsport on Sunday 9th February 18:53
Agreed. Not sure I'd want to be blasting around in a car of that performance that was an accident/ repaired.
You can get the HPI classification as inspected / certified once repaired properly, but a prospective purchaser will know whats been done, and I reckon that would put many off, so its got to hurt come re-sale time.
Incidently if you shop around you can get a '98 550 for way less than that privately. I'm after one at the moment, but really want a 2000 car. A trader friend of mine recently took £58k to move a 550 quickly. That car was a 98S, black with cream interior...(not really my taste!!!) can't remember the exact mileage, but was about the same as that (25-30k IIRC)
In my opinion he'd be better saving a little more cash / take advantage of the Bank kindly dropping rates again and buy a decent one. I'm sure it would be cheaper in the long run, factoring in selling, and definitely less risky.
All IMHO of course.
You can get the HPI classification as inspected / certified once repaired properly, but a prospective purchaser will know whats been done, and I reckon that would put many off, so its got to hurt come re-sale time.
Incidently if you shop around you can get a '98 550 for way less than that privately. I'm after one at the moment, but really want a 2000 car. A trader friend of mine recently took £58k to move a 550 quickly. That car was a 98S, black with cream interior...(not really my taste!!!) can't remember the exact mileage, but was about the same as that (25-30k IIRC)
In my opinion he'd be better saving a little more cash / take advantage of the Bank kindly dropping rates again and buy a decent one. I'm sure it would be cheaper in the long run, factoring in selling, and definitely less risky.
All IMHO of course.
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