Looking at buying a 550M
Discussion
Hi All,
I am looking at getting a 550M in the next few days and have narrowed the choice to 3 cars (although have not seen any).
One that I like most is Verdi's Blue one, but am hesitant about the mileage, as by the time I sell it will likely be 40K. Really like Outwoods 2001 in black with the handling pack, but no sports exhaust and of course more money.
I have read a number of links regarding the 550 and kept seeing people mention good residuals - really? I have had a Ferrari before and lost a lot of money on re-sale as I have with the last few cars! I hate it but guess it is what it is. Would be great to finally find a car that did not lose 20% + a year!
With the Outwood Black 550M, is it worth spending the extra £8K for handling pack and 2001 model over the Verdi 2000 without and 31K miles? Plus would have to get a TUBI, so basically £10K more.
Any thoughts would of course be welcome!
Regards
Rob
I am looking at getting a 550M in the next few days and have narrowed the choice to 3 cars (although have not seen any).
One that I like most is Verdi's Blue one, but am hesitant about the mileage, as by the time I sell it will likely be 40K. Really like Outwoods 2001 in black with the handling pack, but no sports exhaust and of course more money.
I have read a number of links regarding the 550 and kept seeing people mention good residuals - really? I have had a Ferrari before and lost a lot of money on re-sale as I have with the last few cars! I hate it but guess it is what it is. Would be great to finally find a car that did not lose 20% + a year!
With the Outwood Black 550M, is it worth spending the extra £8K for handling pack and 2001 model over the Verdi 2000 without and 31K miles? Plus would have to get a TUBI, so basically £10K more.
Any thoughts would of course be welcome!
Regards
Rob
If you buy well I suspect that the car should be virtually depreciation free but don't forget they do cost a few quid to keep going - the EVO articles put it about £1 per mile and thats not far off what mine looks like costing.
I suspect with tyres that 3k a year mileage will cost about £3k averaging the bigger services over time. The car certainly feels like it could stand a big mileage and I know from my mechanic that he looks after a few 100k plus versions which drive very well.
I don't know of the cars that you refer to (maybe post some links ?) but I would be looking to spend circa £45k on a 98 - 00 car and have a proper inspection - I would ignore the asking prices as there are deals to be done and lots of the over priced cars have been up for sale for ages.
The car IMHO really benefits from a sports exhaust and an updated hi-fi and these two things add about £2k to the purchase price - there are lots of low mileage cars about but you would want to drive a few as some don't drive that well.
Have fun
I suspect with tyres that 3k a year mileage will cost about £3k averaging the bigger services over time. The car certainly feels like it could stand a big mileage and I know from my mechanic that he looks after a few 100k plus versions which drive very well.
I don't know of the cars that you refer to (maybe post some links ?) but I would be looking to spend circa £45k on a 98 - 00 car and have a proper inspection - I would ignore the asking prices as there are deals to be done and lots of the over priced cars have been up for sale for ages.
The car IMHO really benefits from a sports exhaust and an updated hi-fi and these two things add about £2k to the purchase price - there are lots of low mileage cars about but you would want to drive a few as some don't drive that well.
Have fun
Oh, my favourite subject! 550's 
I would take an afternoon off and go drive 'em both if I were you. Check 2nd and 3rd synchros are ok when warm.
I'm not personally keen on them in black. Black ones seem to stick around. Blue is nice, but everyone will ask you why your new Ferrari isn't red. Red will also sell quicker later on, when it's a bit older.
Mileage of 40k is really not going to be a probelm at all at resale time. Mines on 44k with no issues at all. I would like to think I've had 2 years depreciation free motoring, but I've not put that to the test yet!
As you say, a Tubi is an absolute must.
Enjoy!
I would take an afternoon off and go drive 'em both if I were you. Check 2nd and 3rd synchros are ok when warm.
I'm not personally keen on them in black. Black ones seem to stick around. Blue is nice, but everyone will ask you why your new Ferrari isn't red. Red will also sell quicker later on, when it's a bit older.
Mileage of 40k is really not going to be a probelm at all at resale time. Mines on 44k with no issues at all. I would like to think I've had 2 years depreciation free motoring, but I've not put that to the test yet!
As you say, a Tubi is an absolute must.
Enjoy!
Thanks for the responses. Both helpful. The links of the cars I like are (found another one):
http://www.pistonheads.com/sales/444667.htm
http://www.pistonheads.com/sales/400477.htm
http://www.pistonheads.com/sales/290648.htm
I will try and get to drive them all and make a choice from that. Blue one is my preferred... just!
Interesting to hear about costs. Don't mind running costs (within reason!) as long as the depreciation is not a joke, as it really leaves a bad taste in your mouth when you take such hits. I lost £12K in 8 months on my last car on depreciation alone and I bought well!
Regards
Rob
http://www.pistonheads.com/sales/444667.htm
http://www.pistonheads.com/sales/400477.htm
http://www.pistonheads.com/sales/290648.htm
I will try and get to drive them all and make a choice from that. Blue one is my preferred... just!
Interesting to hear about costs. Don't mind running costs (within reason!) as long as the depreciation is not a joke, as it really leaves a bad taste in your mouth when you take such hits. I lost £12K in 8 months on my last car on depreciation alone and I bought well!
Regards
Rob
As depreciation is your biggest concern, it strikes me that the 01 car at £65k will be the equivelent of the 00 car at £52k this time next year. Therefore £13k depreciation, assuming you sell at retail prices 
There does appear to be a floor price of £40k for 98 cars at the moment, so I would suggest that the 00 car is likely to cost less on the depreciation front.
There does appear to be a floor price of £40k for 98 cars at the moment, so I would suggest that the 00 car is likely to cost less on the depreciation front.
I came quite close to buying a 550 18 months ago. I test-drove half a dozen.
I would strongly recommend one with the handling pack - it made a noticeable difference and is good value in my opinion for the extra couple of grand or so.
For what it's worth, I really liked the car in black. The one that I got really close to buying was a black car and I loved the colour.
Avoid red.
Rgds
DS
I would strongly recommend one with the handling pack - it made a noticeable difference and is good value in my opinion for the extra couple of grand or so.
For what it's worth, I really liked the car in black. The one that I got really close to buying was a black car and I loved the colour.
Avoid red.
Rgds
DS
I bought my 550 last September and during my research on whether to buy one or not, found that about 500 of the 3,800ish that were built came to the UK and of those only 10%-15% were in red, so by my reckoning over time they will hold their value better. Had no problems with mine at all and its an event every time you go out in it. oh, and yes, you need a tubi.
I would recommend Simon Furlonger www.simonfurlonger.co.uk whom i bought my car from as dealing with Simon has been the absolute best experience I have ever had with a car dealer of any marque. If he doesnt have what you want in stock i bet he will be able to find you one. I would totally recommend him every time.
I would recommend Simon Furlonger www.simonfurlonger.co.uk whom i bought my car from as dealing with Simon has been the absolute best experience I have ever had with a car dealer of any marque. If he doesnt have what you want in stock i bet he will be able to find you one. I would totally recommend him every time.
What is the official name for the 550 handling pack? I've heard of "GTC" or "Fiorano" handling packs on other cars but not on the 550.
I'm getting seriously tempted by one myself... but get that they are quite hard to sell. For example, in Switzerland on www.autoscout24.ch there are circa 43 for sale which when compared to the fact that there are only 142 Boxsters for sale, makes me think they are not shifting....
Personally, I never liked red when they came out but now I would probably go for red!
I'm getting seriously tempted by one myself... but get that they are quite hard to sell. For example, in Switzerland on www.autoscout24.ch there are circa 43 for sale which when compared to the fact that there are only 142 Boxsters for sale, makes me think they are not shifting....
Personally, I never liked red when they came out but now I would probably go for red!
As other have said, the exhaust is a must but it isnt £2000.00,, more like £1,200, all you need are the Tubi Stright Through Pipes, dont bother with back boxes they are crap.
They will depriciate especially a 2000/2001 model year car, if you dont want a big of a hit look for a 97/98 . Remember the 575 is above it and that is depriciating still, and no one will pay more for a 550 over a 575.
Colour is a personal choice but avoid red, they stick around forever dispite what others have said. Black is always the quickest to sell, TDF looks OK and suits the car but is very dated its soooooo 2000 along with Argento.
Get the best you can afford with a PPI done, these are expensive cars to fix, service wise its a big mith that they cost so much more than a V8, they dont.
Good luck
They will depriciate especially a 2000/2001 model year car, if you dont want a big of a hit look for a 97/98 . Remember the 575 is above it and that is depriciating still, and no one will pay more for a 550 over a 575.
Colour is a personal choice but avoid red, they stick around forever dispite what others have said. Black is always the quickest to sell, TDF looks OK and suits the car but is very dated its soooooo 2000 along with Argento.
Get the best you can afford with a PPI done, these are expensive cars to fix, service wise its a big mith that they cost so much more than a V8, they dont.
Good luck
fantastic value for money...had one for two years...twice to south of france and back..no problems...575s worth looking into as they in £60s now...feel a lot more special inside than 360s imo...also have been smoking my partners 430 for a couple of weeks....twice the price but definately not twice the car...
Larini make rear boxes for the 550 and they sound great...especially in tunnels - exhausts are just over £1k and a decent hi-fi adds a chunk more.
I thought the fiorano handling pack was an option on the 575, which was initially softened when compared to the 550. Probably worth having a look at the EVO articles on the 550/575.
As has been said above 575's seem to be heading south pricewise and I know from looking that a really good low mileage 575 can be had for early 60's hence I tend to think top price for a 550 (excluding WSR version) is 50. There seem to be a few for sale in the classifieds at the moment.
If you have not bought one before we will be at the Brooklands auto-italia day in ours and more than happy to take you for a spin.
Happy hunting
I thought the fiorano handling pack was an option on the 575, which was initially softened when compared to the 550. Probably worth having a look at the EVO articles on the 550/575.
As has been said above 575's seem to be heading south pricewise and I know from looking that a really good low mileage 575 can be had for early 60's hence I tend to think top price for a 550 (excluding WSR version) is 50. There seem to be a few for sale in the classifieds at the moment.
If you have not bought one before we will be at the Brooklands auto-italia day in ours and more than happy to take you for a spin.
Happy hunting
I got mine in December and have loved every minute. They are wonderful; to look at, sit in and drive.
You certainly need a louder exhaust. I replaced the rear boxes with Quicksilvers, but to be honest they still aren't loud enough.
Does anyone know how to make them louder without spending silly money?
Since getting it I've spent about £2k on tyres, winter underbody treatment (needs doing every 2 years) and repairs to air con.
I then spent about another £2k on the exhaust and car cover which weren't essential but IMO needed.
It's due it's annual service on Monday.
You certainly need a louder exhaust. I replaced the rear boxes with Quicksilvers, but to be honest they still aren't loud enough.
Does anyone know how to make them louder without spending silly money?
Since getting it I've spent about £2k on tyres, winter underbody treatment (needs doing every 2 years) and repairs to air con.
I then spent about another £2k on the exhaust and car cover which weren't essential but IMO needed.
It's due it's annual service on Monday.
Hi
Regarding the Fiarano handling pack - it's really up to you.
If you intend to track your car often, then the FHP is a good buy. It does stiffen the ride and handling - but can actually detract from the ride on a poorly surfaced road (the 550 is one of the best uber GT's ever). Again - it's a personal choice.
The standard car is a good all rounder - but you will notice is does "roll" a little bit - it's a heavy car - even in sports mode. Having said that - with the ASR disabled - an easier car to powerslide you will not find! It positively flatters the driver (well me at any road!)
If you can source a 550 WSR - you get the FHP and a roll cage, which is fantastic around tracks and you get the sports seats (which, personally I think are not as comfortable as the daytona seats) - but you do get good lateral support - again - if you track the car - is not a bad asset. You do also get the 4 point harness, which frankly is a little overkill as a daily driver.
I believe that Baynards (i think) have an ex Maranello demo with every extra (FHP, Rollcage, new steering wheel - 575 I think - fire extinguisher etc...)
You also need to make sure that the recalls have been done (wheel stud's being the most important if you track the car!)
I wouldn't be driven by mileage - as my experience (I own a 550 WSR and have owned 2 others) if the cars have been used (and loved) - they are inherently better than low milage cars that just sit around and get polished to within an inch of thier lives......
You definatley need a Tubi - I have the rear box - I felt the full system, with the straight pipes were too much and out of keeping with the car. Just my two penneth.
Whatever you opt for - you'll love it.
Enjoy!
Anjum
Regarding the Fiarano handling pack - it's really up to you.
If you intend to track your car often, then the FHP is a good buy. It does stiffen the ride and handling - but can actually detract from the ride on a poorly surfaced road (the 550 is one of the best uber GT's ever). Again - it's a personal choice.
The standard car is a good all rounder - but you will notice is does "roll" a little bit - it's a heavy car - even in sports mode. Having said that - with the ASR disabled - an easier car to powerslide you will not find! It positively flatters the driver (well me at any road!)
If you can source a 550 WSR - you get the FHP and a roll cage, which is fantastic around tracks and you get the sports seats (which, personally I think are not as comfortable as the daytona seats) - but you do get good lateral support - again - if you track the car - is not a bad asset. You do also get the 4 point harness, which frankly is a little overkill as a daily driver.
I believe that Baynards (i think) have an ex Maranello demo with every extra (FHP, Rollcage, new steering wheel - 575 I think - fire extinguisher etc...)
You also need to make sure that the recalls have been done (wheel stud's being the most important if you track the car!)
I wouldn't be driven by mileage - as my experience (I own a 550 WSR and have owned 2 others) if the cars have been used (and loved) - they are inherently better than low milage cars that just sit around and get polished to within an inch of thier lives......
You definatley need a Tubi - I have the rear box - I felt the full system, with the straight pipes were too much and out of keeping with the car. Just my two penneth.
Whatever you opt for - you'll love it.
Enjoy!
Anjum
Love 550's and some interesting comments on here. I asked about the WSR's over on Clubscuderia.net ages ago and consensus was that the WSR'r are worth no premium over standard models and that Red was definitely to be avoided for the 550/575. I agree with that last point, they just look bloody odd in red.
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