What should I do before buying a Ferrari?

Before you buy a Ferrari, or before you buy any car, for that matter, you should learn as much as possible about the car's past history as well as its current condition.

Research the Car's Title History
The good place to research a car's history is with an online service called the Carfax Vehicle History Service (available online at http://www.carfax.com/) which will tell you a lot of information about the car based on its 17-digit Vehicle Identification Number (VIN). They can tell you whether the car has been salvaged or flood damaged, if it has inconsistent odometer mileage reported at title or inspections, and can provide the title history of the car. The report costs $12.95, and is delivered immediately online. Most VINs are in the Carfax system, but if you type in a VIN that they do not have info on, you will not be charged.

For more information on deciphering a Ferrari's VIN, visit our Ferrari VIN FAQ Page.

Research the Car's Service History
Next, you should ask for as much service history on the car as possible. Responsible Ferrari owners usually keep records on most aspects of their car's maintenance. Authorized Ferrari dealers may also be able to access Ferrari North America's central computer to find out if any warranty work was done, or if the car received scheduled services at an authorized dealer. If repairs were made, that does not necessarily mean that the car is in bad shape. Take into account the type of repair, the mileage at which the repairs were performed, and who performed the repairs when considering this information. Well documented repairs are a sign of responsible prior ownership. Any accident damage should be very carefully examined, and caution must be used to ensure that repairs were made properly, and by experienced Ferrari repair facilities.

Contact Previous Owners
If the names and phone numbers of previous owners are known, it's a good idea to make a quick phone call to them to ask about the car. Most previous owners will tell you much about the car that perhaps a seller doesn't know, or doesn't want to tell you.

Research the Car's Current Condition
After you learn as much as you can about the car's past, you should learn as much about its present state as possible. Examine the car closely and critically. Don't let the fact that this is a Ferrari impress you so much that it clouds your judgment. Take note of the mileage, overall condition, tire wear, number of previous owners, and any "extras" (such as additional wheels or accessories, car cover, etc.). If the car is not in the same city as you, ask the seller to send you recent photos of the car.

Evaluate the Exterior Condition
Start by evaluating the cosmetic condition of the car's exterior, and most importantly, the paint. Make sure you do so in very bright light, such as outside sunlight. Don't just look for chips on the front, but also for dimples in the paint all over the body. Ferrari sheet metal is very delicate, and imperfections or small dings are common. These shouldn't necessarily stop you from buying the car, but you shouldn't pay a "flawless" price for a car that isn't flawless. To see how well the paint cared for, bring some water in a spray bottle and spray it on the hood. It should bead up instantly. Open the hood, and the water should roll right off. This indicates that it has been waxed consistently. For an extreme test, open up the drivers side door and spray water on the ID label and inner jamb. If the car was truly pampered, it will bead just as much there. While you're examining the paint, look for swirls and hazing in the paint from different angles and in different lighting. A little hazing is quite common especially on older cars, but too much could indicate a careless buffer who may have been lazy in other respects.

Evaluate the Interior Condition
Next, move your focus to the car's interior. Check the ashtrays front and back. Look for traces of ash with a white hankie. If it's important to you that you get a non-smoking car, then this quick test can verify it for you. As you examine the rest of the interior, make sure you've got bright light again. If you're not outside in the bright sun, bring along a powerful flashlight. Check all leather and vinyl for cracking and stiffness. Feel around the backs and sides of seats where you can't see. Look for rips, tears, and stains in the headliner, carpet, and other covered surfaces. Make sure the instruments are not fogged up or hazy.

Test All Accessories
Put the key in the ignition and turn the key to ON, but don't start the engine. Check that all the indicator lights on the instrument panel light up. Check all the switches and knobs you can find in the cockpit. Make sure that power windows roll up and down. Check for proper operation of the the turn signals, horn, windshield wipers, headlights, air conditioner and heater, instrument panel lights, interior lights, door lights, door locks, trunk release, hood release, engine cover release, electrical lockout, gas cap release, antenna retractor, glove box release, etc. Don't be ashamed to ask about a button or knob's function if you don't know. If the car has an alarm and/or stereo, make sure that these also work. Some of these items may not be too expensive to fix, but you should be aware of anything that is not operating correctly, and find out how much a repair will be. Make note of any broken items so that you can discuss them with the seller, and with an independent mechanic when you have the car inspected.

Examine the Engine and Undercarriage
Turn off the key and open the engine compartment, hood, and trunk. The engine should also look well taken care of, and should have no apparent fluid leaks. Check the tracks in the trunk on each side for grease and filth. Don't just examine the new oil filter and pretty red wires, but look at the engine block and engine mounts. Crawl underneath the back of the car. Ask if they'll put the car up on a lift for you. Look for dings on the underside, or scrapes where a previous owner may have taken it over a railroad track too fast and bottomed it out. While the car is up on the lift, check the connection where the speedometer/odometer cable meets the transaxle. Make sure it looks like the original connection - it should be about as dirty as the rest of the car underside and not shiny. A shiny connector may indicate that the odomometer was unhooked.

Check for All Original Materials
With the car off the lift, check the spare tire (if that model came with one). Again look at the tracks on either side of the bonnet top and bottom. While you're examining the trunk, make sure that both the tool kit and jack bag are stored there. Remove the tool kit and jack bag and make sure that all the tools are there. At the same time, make sure that the car still has an owner's manual and warranty booklet. The absence of any of these items doesn't necessarily mean that you shouldn't but the car, but it's important to know that cars that have all of these original materials are worth more than cars without them.

Evaluate the Condition of Convertible and Targa Tops
If the car has a convertible or targa top, examine the top closely. Check out the operations of all of the windows with the top up. With a convertible, put the top down and evaluate how easy is was to do. Check the window operation again with the top down. With targa tops, remove the top and place it in its storage location (usually behind the seats). Check the condition of the boot cover put it on. Make sure all the snaps are there, and that they are original Ferrari snaps. Put the top back up and evaluate how easy it was to do. With the top back on, ask if you can wash the car. Grab a hose and give it a good rinsing. Let water spray on the front seals. Get inside the car and see how much water has leaked in. Convertible Ferraris are not completely watertight, but targa tops should keep the interior almost completely dry.

Test Drive the Car
Obviously, before you make any purchase decision, you should drive the car (or one exactly like it if you're buying brand new). Don't just take it around the block, but spend at least a half hour driving the car. On a bumpy roads, listen for any squeaks. New shocks are very expensive. The ride should be stiff, but not overly bumpy. Make sure you take it on the freeway, where you can experience the car at speed. Acceleration into traffic should be very easy. Once you're on the freeway, slow down to 50mph in 5th gear. At about 3500 rpm, stand on the accelerator and note any clutch slippage. A new clutch could cost between $1,500 - $3,000. When you return from the test drive, smell the engine. Look for any smoke or oil leakage. Ask to see a recent emissions test on the car. Start the engine again and hold a clean white towel behind the exhaust tips for a minute. A little soot is fine, but make sure that no oil is coming out. If any aspect of the car seems strange to you while driving it, don't just assume that "Ferraris must be like that." There are some aspects of Ferraris that may be new to you, but you should discuss any aspects of the car's performance that stands out to you with the seller.

Have the Car Inspected by an Independent Third-Party Ferrari Mechanic
Even if everything seems fine to this point, don't automatically assume that everything is fine with the car. You must have the car inspected by an independent 3rd party mechanic who knows and understands Ferraris. Reputable sellers will have no problem with you have the car inspected by a mechanic. Even if the dealership tells you that their mechanics have checked it out, take it to an independent one. If the mechanic finds problems with the car, then discuss with the seller who will be responsible for the repairs. Many dealerships will include the repairs in the cost of the car, if they are motivated to sell.

Comparison Shop
Before discussing the price of the car, make sure you do some comparison shopping. Compare the example you're considering with other Ferraris of the same model and type, with similar mileage, similar accessories, and similar original materials. Good places to check are publications such as the duPont Registry, the Ferrari Market Letter, and Hemmings Motor News. Keep in mind, however, that these publications list the asking prices of the cars they advertise, so the actual market rates are usually a bit lower. You may also check the classified ads in your local newspaper, or one of the many online classified sites available.

Check References
Before making a final purchase decision, try to find previous customers of the seller and ask them what they thought of their experience, and if they'd buy another Ferrari from the same seller. If you're buying from a dealership, ask for references. They will most certainly give you the names of people who will give them favorable reviews, so be sure to find a few references on your own, as well.

Carefully Finalize the Sale
If you do end up purchasing the car you've examined, be sure to get all terms of the sale in writing, including any services promised by the seller. Any sale documents should be read and well understood, and examined by an attorney if you are unsure about any terms. Don't let the "WOW" factor of a Ferrari cloud your judgement. Negociate a fair deal with the seller, and don't be afraid to take some time to make a decision. Take a day or two to consider the purchase of a specific car, if you need to. Regardless of what a seller may say, there are very few instances where a 1-2 day "cooling off" period will cause the car to be sold out from under you.

Enjoy Your Ferrari!
A positive Ferrari purchase cannot be guaranteed by following the above guidelines, but your chances of getting a good quality Ferrari at a fair price will be greatly improved if you are willing to do a little research, comparison, and exhibit some patience. Happy Ferrari hunting!

Contributions to this FAQ by: Steve Jenkins, Steve Levine