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17 July 2019, 03:56 AM | #1 |
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F-Car Maintenance / Advice
This is a tough one to pencil. A family member has long been an f-car enthusiast - he’s owned Testarossa, F-40 and most recently 488 GTB (2017 delivery). Sadly, he has recently been diagnosed with early onset dementia and no longer is legally allowed to drive. We are now working through assuming responsibility for affairs through various trusts, poa, etc. As many of you know, such is life with aging loved ones.
My question is, what advice would f-car (or similar) owners have for the 488? It is sitting covered in a garage on a trickle charger, and has to have less than 1,000 miles on it. Before calling the dealer and asking them, I was hoping to gather opinions / input from the forum. Should we keep the car as an appreciable asset? If yes, what type of maintenance / care should we implement for the vehicle, and what would this expense look like? Or, should we just sell it and move on. We are fortunate in that care decisions / resources wouldn’t be influenced by any potential proceeds. Many thanks in advance. |
17 July 2019, 04:02 AM | #2 |
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Sell it and move on. I don't think the 488 will appreciate in value. You can make that statement by seeing what the 360s and 430s have done.
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17 July 2019, 04:05 AM | #3 | |
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Sad story, sorry to hear. I would move it along.
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17 July 2019, 04:09 AM | #4 |
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I’m really sorry to hear about your family member Brian.
Others with more experience will be able to give advice on the car. |
17 July 2019, 04:21 AM | #5 |
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as far as I know that car has 7 years of free maintenance.
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17 July 2019, 05:01 AM | #6 |
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When my father-in-law passed we had to deal with his ‘88 911. We looked at all the options, keeping it (but his 4 daughters couldn’t agree on who would get it), sell it to a dealer, cosign, and auction. We ended up auctioning it on bringatrailer.com and got a very good price. If keeping it and enjoying it isn’t one of the choices you are considering then auction it. Selling is a hassle with all the buyers, dealers want to seriously underpay for it’s value (yeah they have to make $$ but some offers we got for the 911 were insulting on many levels), co-signing is just another way of selling without having to do the work but with a big commission to the seller. Auctioning on that site was easy, fast, got a good price (more than $20K over what some dealers tried to offer).
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17 July 2019, 05:29 AM | #7 |
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The 488 will not appreciate. If you have no intention on taking it over as an owner, I would sell the car. If you are thinking about keeping it, you get 7 yr maintenance included. You also have an option to buy an extended warranty on then car for up to 11 yrs. It's called the Ferrari Power warranty. But if you have no intention on taking over ownership, dump the car, it's being replaced by the F8 soon.
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17 July 2019, 06:41 AM | #8 |
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Most F-car owners will tell you it's roughly $2-3 a mile for maintenance.
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17 July 2019, 06:48 AM | #9 |
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Keep and drive/enjoy.
If selling is necessary, I would get appraisals from multiple high end dealerships (especially non-franchised dealers). From there, take one of the offers or put it up on Bring a Trailer. If the F40 is still around and available, I may have a buyer in Houston. Unfortunately my buyer already has a 488 Pista, so he's not looking for another 488. Good luck and I'm sorry to hear about the situation. |
17 July 2019, 06:52 AM | #10 |
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Absolutely sell. The 488 is not and will not become an 'appreciating asset'
Maintenance and insurance will far out weigh any benefits of owning it; unless you love Ferrari and what they stand for. |
17 July 2019, 07:06 AM | #11 |
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I'm very sorry to hear this sad news. Great advice was given above and I'm sure more will follow.
If you're not interested in experiencing the vehicle I would get the rid of it. If it was something like the F40 he once had that could be a different story. |
17 July 2019, 07:32 AM | #12 |
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17 July 2019, 07:35 AM | #13 | |
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The F-40 was sold a few years before the 488 came on the scene - it was a thing of beauty! |
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17 July 2019, 10:32 AM | #14 |
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I would suggest selling quickly as the driving season is almost half over in your neck of the woods. As a Fcar owner, all the advice is spot on, It will not rise in value and not driving it wil actually cause it to have more issues the more it sits.
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17 July 2019, 11:47 AM | #16 |
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Thank you, and you raise an excellent point - I couldn’t tell you the last time the engine was started / the car was driven at all. Is this something that should be done weekly / monthly at a minimum? The car is located in another state which complicates things a bit...
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17 July 2019, 02:46 PM | #17 |
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Though I agree the 488 won't appreciate, you'll be low balled by any dealership. I'd start by checking out the market on sites like CarGurus, etc., and try to sell as a private seller first. It sounds like it is extremely well cared for, I'm sure you wouldn't have any trouble selling as a private seller
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17 July 2019, 09:32 PM | #18 | |
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Call the dealership. Find out the history. Records are very important with this car. If per chance this car is in the Tampabay area, i can try to help. |
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17 July 2019, 10:52 PM | #19 | |
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Can he still go for rides?
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17 July 2019, 11:08 PM | #20 | |
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This sounds like a great idea !
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18 July 2019, 12:18 AM | #21 |
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Its not that simple. 7 year maintenance but warranty is 3 or 4 years.
Although repairs are not likely, they need to be factored in. Plus as previously mentioned, there are insurance issues. |
18 July 2019, 02:04 AM | #22 | |
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18 July 2019, 02:53 AM | #23 |
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Did he have a relationship with an f dealer? Go back to them first. They prob have a buyer in line and might help - Especially if you show interest in continuing to purchase.
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18 July 2019, 03:41 AM | #24 |
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He does - purchased all 3 from the same dealership. We’ll start there to get a baseline / see how helpful the can be / are willing to be. Thanks!
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18 July 2019, 05:13 AM | #25 |
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The last 488 GTB on BaT had 1400 miles and went unsold at $225K.
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18 July 2019, 05:33 AM | #26 |
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Jesus. I paid just shy of that for my 2013 458 spider.
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18 July 2019, 05:41 AM | #27 |
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Good luck to you and pops. Tough and humbling road ahead. Been there twice.
Stay strong for him. |
18 July 2019, 09:18 PM | #28 |
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