When I started my now successful search to purchase a FGT it occurred to me that the one thing that I couldn’t find in my research was a buying guide/experience of what one goes through in purchasing an exotic car for the first time. I spent the past two years talking myself in and out of various exotic cars finally settling on the GT or a Ferrari 430. I am going to post my experience here for two reasons. First, I actually own a FGT now, but more importantly I found this Forum to be the most user friendly of the exotic car sites. I respect everyone’s opinion here (even if I did not always agree) and was grateful for all the helpful tips that I received. That said this post will most likely be most useful to the person doing an exotic purchase for the first time. I am not saying this is the right way to go about it. This is just my experience in buying my 06 Tungsten.
First and foremost, do your research. Read as much as you can about the models and manufacturers that you want to buy. Find sites like this one and see what the actual owners think. I find owners sites a little better than expert reviews in car magazines because their interpretations are based on limited time with the car and can be a little technical for me. It is just my opinion, but don’t start posting on a site like this until you are actually ready to buy. People want to see follow through and may respect your posts more if you actually buy the car.
Try to get some seat time in the cars you want. Do not expect to walk into a dealer and get into a car. Exotic test drives are not easy to come by, but there are traveling rental programs that make stops all over the country that will let you get seat time with six different models/manufacturers (You get about thirty miles with each car) for a very reasonable price currently about $1,500. You are going to have to pay for it, but it is well worth it. This saved me from almost buying an Aston Martin (great car to look at, just a little heavy and not as fun to drive) and helped me fall in love with the 430. The program was supposed to have a GT but subbed in a second Ferrari when the GT was wrecked shortly before the event. That was disappointing because the GT was one of the cars I was most interested in driving. I have not looked recently, but the rental programs mostly only have current new models and the GT is not available in most of these programs any longer.
Now once you decide on the model here is where things get a little tricky. Since this was my first purchase and I am not one to waste people’s time it did not occur to me how many people ask questions and want information from sites like this, from owners classified ads and from dealers with no intention of purchasing the car. I should have known better after selling a few cars on ebay and seeing some of the questions I got during the listings but it just did not occur to me. People do not want to be bothered by lookie loos. That makes sense. You need to realize that you are not purchasing a normal car. It is a next level purchase. When you ask a question/group of questions make sure it is well thought out and that it is not something that you can easily find out on your own. Private sellers in particular (my personal favorite choice for a purchase and where I found mine) are usually busy people who do not have a lot of time to waste. Your time is important to you, respect theirs as well. If possible try to find an GT owner not looking to sell (perhaps posting that you are a serious purchaser here on the site and asking if any owner local to your location would meet with you to discuss their car) and take them out to a great lunch or dinner and pick their brain. I was fortunate enough to meet an owner/acknowledged GT expert from the Forum that lived near me and the couple of hours that I spent with him I learned more about the GT than I did in all the hours I spent on the web combined. On a whole, owners seem like great people and if they feel you have a sincere interest in purchasing a GT they are willing to share some of their time and knowledge. People are very passionate about these cars.
I looked at four GT’s before I purchased mine. I never asked for a test drive. I did ask the owners to drive me around in the car to see that everything worked well and to see the owners driving habits. Some people wanted to impress me with the car, which was not what I wanted to see. The guy I bought from gave me a drive that was exactly what I asked for, nice acceleration going through the gears and hearing the engine at a consistent cruising speed. A big turnoff was the gentleman who wanted to take me on a thrill ride. That said, I like to drive fast and enjoy using my cars but to me that is not the most effective way to “sell” a prospective buyers. As a buyer we want to feel the car is well cared for and babied.
Now another touchy subject, the pre purchase inspection. I agree with most of the posts on this subject recently made on the site. However here is where I disagree. Yes, a PPI is insurance against getting a bad car, and no one wants that. But in my case, it took four GT’s before I found the one I purchased. Some of the quotes bandied about for a comprehensive proper PPI were between a thousand to fifteen hundred dollars. By that rational I would have had up to 6K invested in PPI’s for cars that I did not even buy. It may take you looking at a few cars to find the one you want and with the limited cars available they could be anywhere in the country. I am fortunate enough to live in California and saw four GT’s that met my criteria all within driving distance, but what if I found cars all over the country. The cost of the PPI plus the cost of getting the qualified PPI expert all over the country could be a bit cost prohibitive. What I would suggest is talking to a non-selling owner, like I mentioned above, or getting together with a GT expert in person and paying them for their time to show you what they look for. Shadowman and Kendall had a great thread about what they look for, but reading about it and seeing it are two separate things. I was fortunate to learn so much by being shown the GT by a guy passionate about the car and someone who does great work on GT’s to boot. Now after I was done with him could I pre qualify a car as well as him. Absolutely not. However, after seeing a less than stellar example of a 3100 mile car (quick sellers tip, bald rear tires are a immediate turn off to a buyer and will get them walking) and three great examples plus being taught things to look for I felt like I could make a much better educated decision.
Next, you need to feel totally comfortable with the owner. I can’t stress that enough. Have lots of questions prepared for the owner, have them take you for a drive, and see all documentation of any service performed on a car. Run the carfax. It may not tell you everything, but it can help you verify dates of service that match the owners documentation as well as letting you know if they have a loan out on the car. Have the owner go over the car with you when you inspect it. Have a flashlight, get under the car, look at everything. All of the GT’s I looked at had less than 3,500 miles, but the appearance and feel of the car definitely mirrored the owner of the car. All of them were nice people, but one guy in particular was a little too cavalier and the car showed that was how he drove it as well. The guy I bought from was very meticulous and obviously knew the car and spent time taking car of the car. He spoke intelligently about the car and made me feel good about the car. It did not hurt that the car was immaculate, but getting to know him pushed me into the final zone of comfort I needed.
Finally, the taboo question when buying a GT. Price. Ask this question and everyone seems to bristle. I understand why now more now than I did in the beginning. On this site in particular we are not just GT owners (It feels real good by the way to call myself an owner), we are enthusiasts as well. As an enthusiast we feel strongly about the car and want to see them fetch top dollar. Plus, no one likes to feel they overpaid and sharing that information is not easy for most people. I had a few people tell me they couldn’t remember what they paid, but it was worth it. I find that hard to believe. I still remember the $500 purchase price of my first car, a ’77 chevy Impala, and I could tell you what I paid for every car since. After getting a lot of seat time with my girl, I agree with one point. Magnificent car and well worth the price whatever you pay. However, as a buyer the deal is still important to me. Money is money and while I may work hard to play hard, I came up bare bones and did well but I remember the old days and don’t like to waste money. For the past couple years I watched completed ebay listings, asking prices on classified ads, watched the GT prices website that sadly went away and felt like I had a good idea of market value. I did notice however that as it got harder to track completed sales the “premium” on the asking prices went up. Some people have limitless resources and if you do just skip this section as it will not apply to you. However, this is how I found and paid what I felt to be a fair price for a 3,400 mile 06 GT.
First, I was ready to close the deal upon finding the right car. I didn’t have to move money from this account to that account, I was prepared to buy. When you go to look at a car, take a substantial cash deposit to hold the car to show you are serious and let them know that as long as they have the title and the inspection goes well that you are ready to deal today. Here are two examples of what I dealt with. The first deal I attempted was a buy it now on ebay from a private seller that was a sale pending an inspection of the car. I had a cash deposit in hand and we met the next day. The car was not what I wanted when I saw it, but I paid him for the cost of the listing that I ended and offered him a little extra for his time (which he declined) and we parted ways friendly. He knew I was serious and we discussed what I did not like about the car. Very understanding. The next one I found was advertised in of all places the Dupont registry. Last place I would have thought I would ever find a car. All prices in there seem real high to me on all cars they have. Ask was 185K. I went to see the car and it was an immaculate one owner 3,400 mile three option Tungsten, no Mac (which I did not want anyway, did not like the way the sub woofer looked). Owner had been trying to sell for awhile and lived in a nice but somewhat remote part of California. This is why private sellers are better for a buyer than a dealer. One, not everyone that buys a GT is an enthusiast like the people on this site. Some people have an expensive car they want out of and unlike a dealer they do not have the time or patience for the process. Do not think I am down on dealers, they perform a great function. You can go to one place to see numerous exotics and in the case of some of the dealers that advertise on this site you may have several GT’s in one place to look at and choose from. You pay them a premium for convenience. I put 800 miles and numerous hours into driving/negotiating/going to people’s houses while trying to find my GT. Anyway, I made the owner my strongest offer first because I don’t like to screw around and offered him a 5K deposit on the spot. He wanted to think about it, and I told him that was fine and left. This is the key. If price is important to you have impulse control and leave. There may be a limited number of GT’s but there are always a few for sale and there always will be. If it is meant to be, it will be. If not you may find a better car down the road. I could tell the owner was weary with the process and that it was very favorable that he would sell. He e-mailed me a counter offer later that day which I declined and reaffirmed my previous offer and gave him a few valid points as to why I thought he should accept. The next day, he did. Purchase price, 165K. Now I feel I got a fair price. Do I think a dealer, like Shelby for example, buys GT’s like the one I bought for a better price? Absolutely, he is a pro. But I know I could not have touched a price like that from a dealer on a car like this one. Am I the world’s greatest negotiator? No way. But I set out on this quest with a price framework in mind and I stuck to it. Impulse control is not an easy thing, but if you want to get the car you want for the price you want this is one way to go. I saw a Tungsten 06 similar miles on ebay for a 187K buy it now. I am glad I still have that 22K in my pocket. Bottom line, if you want to get the best price on a GT stick to private sellers who are owners, not enthusiasts, and be ready to walk away and keep looking.
That said I think it would be useful to share purchase prices, but I understand why people might not. However long term members of this Forum I am sure avidly watched the GT prices website and there is no reason why there should not be an informal aftermarket version of that on this site. Don’t be afraid to share your purchase price. It helps people make an educated decision. The car is worth what you pay for it (price for the performance compared to other exotics is a fantastic point in the GT’s favor even at dealer prices) and paying more than someone else does not mean you made a bad deal. It means you made the right deal for you. Maybe a dealer made you feel more comfortable than a private seller. There is nothing wrong with that, but sharing information is a great way to continue to build this great community and help future owners feel good about their purchase.
Thanks to everyone who posted responses to my previous posts during my search as all of the information was useful and appreciated. In particular I would like to thank Kendall at Cooltech for graciously letting me pick his brain and visit his GT shop. He has a very impressive shop and his knowledge of GT’s that he shared with me made me a more informed buyer and will make me a better owner as well. Can’t wait to take my GT to him for a few upgrades. I don’t know if this post will be real useful, but I know that I wish I could have read something like this when I started this quest. Buying an exotic felt like a long process and was very frustrating at times, but in the end seeing that girl in the garage and putting in the seat time makes it well worth the effort at any price.
First and foremost, do your research. Read as much as you can about the models and manufacturers that you want to buy. Find sites like this one and see what the actual owners think. I find owners sites a little better than expert reviews in car magazines because their interpretations are based on limited time with the car and can be a little technical for me. It is just my opinion, but don’t start posting on a site like this until you are actually ready to buy. People want to see follow through and may respect your posts more if you actually buy the car.
Try to get some seat time in the cars you want. Do not expect to walk into a dealer and get into a car. Exotic test drives are not easy to come by, but there are traveling rental programs that make stops all over the country that will let you get seat time with six different models/manufacturers (You get about thirty miles with each car) for a very reasonable price currently about $1,500. You are going to have to pay for it, but it is well worth it. This saved me from almost buying an Aston Martin (great car to look at, just a little heavy and not as fun to drive) and helped me fall in love with the 430. The program was supposed to have a GT but subbed in a second Ferrari when the GT was wrecked shortly before the event. That was disappointing because the GT was one of the cars I was most interested in driving. I have not looked recently, but the rental programs mostly only have current new models and the GT is not available in most of these programs any longer.
Now once you decide on the model here is where things get a little tricky. Since this was my first purchase and I am not one to waste people’s time it did not occur to me how many people ask questions and want information from sites like this, from owners classified ads and from dealers with no intention of purchasing the car. I should have known better after selling a few cars on ebay and seeing some of the questions I got during the listings but it just did not occur to me. People do not want to be bothered by lookie loos. That makes sense. You need to realize that you are not purchasing a normal car. It is a next level purchase. When you ask a question/group of questions make sure it is well thought out and that it is not something that you can easily find out on your own. Private sellers in particular (my personal favorite choice for a purchase and where I found mine) are usually busy people who do not have a lot of time to waste. Your time is important to you, respect theirs as well. If possible try to find an GT owner not looking to sell (perhaps posting that you are a serious purchaser here on the site and asking if any owner local to your location would meet with you to discuss their car) and take them out to a great lunch or dinner and pick their brain. I was fortunate enough to meet an owner/acknowledged GT expert from the Forum that lived near me and the couple of hours that I spent with him I learned more about the GT than I did in all the hours I spent on the web combined. On a whole, owners seem like great people and if they feel you have a sincere interest in purchasing a GT they are willing to share some of their time and knowledge. People are very passionate about these cars.
I looked at four GT’s before I purchased mine. I never asked for a test drive. I did ask the owners to drive me around in the car to see that everything worked well and to see the owners driving habits. Some people wanted to impress me with the car, which was not what I wanted to see. The guy I bought from gave me a drive that was exactly what I asked for, nice acceleration going through the gears and hearing the engine at a consistent cruising speed. A big turnoff was the gentleman who wanted to take me on a thrill ride. That said, I like to drive fast and enjoy using my cars but to me that is not the most effective way to “sell” a prospective buyers. As a buyer we want to feel the car is well cared for and babied.
Now another touchy subject, the pre purchase inspection. I agree with most of the posts on this subject recently made on the site. However here is where I disagree. Yes, a PPI is insurance against getting a bad car, and no one wants that. But in my case, it took four GT’s before I found the one I purchased. Some of the quotes bandied about for a comprehensive proper PPI were between a thousand to fifteen hundred dollars. By that rational I would have had up to 6K invested in PPI’s for cars that I did not even buy. It may take you looking at a few cars to find the one you want and with the limited cars available they could be anywhere in the country. I am fortunate enough to live in California and saw four GT’s that met my criteria all within driving distance, but what if I found cars all over the country. The cost of the PPI plus the cost of getting the qualified PPI expert all over the country could be a bit cost prohibitive. What I would suggest is talking to a non-selling owner, like I mentioned above, or getting together with a GT expert in person and paying them for their time to show you what they look for. Shadowman and Kendall had a great thread about what they look for, but reading about it and seeing it are two separate things. I was fortunate to learn so much by being shown the GT by a guy passionate about the car and someone who does great work on GT’s to boot. Now after I was done with him could I pre qualify a car as well as him. Absolutely not. However, after seeing a less than stellar example of a 3100 mile car (quick sellers tip, bald rear tires are a immediate turn off to a buyer and will get them walking) and three great examples plus being taught things to look for I felt like I could make a much better educated decision.
Next, you need to feel totally comfortable with the owner. I can’t stress that enough. Have lots of questions prepared for the owner, have them take you for a drive, and see all documentation of any service performed on a car. Run the carfax. It may not tell you everything, but it can help you verify dates of service that match the owners documentation as well as letting you know if they have a loan out on the car. Have the owner go over the car with you when you inspect it. Have a flashlight, get under the car, look at everything. All of the GT’s I looked at had less than 3,500 miles, but the appearance and feel of the car definitely mirrored the owner of the car. All of them were nice people, but one guy in particular was a little too cavalier and the car showed that was how he drove it as well. The guy I bought from was very meticulous and obviously knew the car and spent time taking car of the car. He spoke intelligently about the car and made me feel good about the car. It did not hurt that the car was immaculate, but getting to know him pushed me into the final zone of comfort I needed.
Finally, the taboo question when buying a GT. Price. Ask this question and everyone seems to bristle. I understand why now more now than I did in the beginning. On this site in particular we are not just GT owners (It feels real good by the way to call myself an owner), we are enthusiasts as well. As an enthusiast we feel strongly about the car and want to see them fetch top dollar. Plus, no one likes to feel they overpaid and sharing that information is not easy for most people. I had a few people tell me they couldn’t remember what they paid, but it was worth it. I find that hard to believe. I still remember the $500 purchase price of my first car, a ’77 chevy Impala, and I could tell you what I paid for every car since. After getting a lot of seat time with my girl, I agree with one point. Magnificent car and well worth the price whatever you pay. However, as a buyer the deal is still important to me. Money is money and while I may work hard to play hard, I came up bare bones and did well but I remember the old days and don’t like to waste money. For the past couple years I watched completed ebay listings, asking prices on classified ads, watched the GT prices website that sadly went away and felt like I had a good idea of market value. I did notice however that as it got harder to track completed sales the “premium” on the asking prices went up. Some people have limitless resources and if you do just skip this section as it will not apply to you. However, this is how I found and paid what I felt to be a fair price for a 3,400 mile 06 GT.
First, I was ready to close the deal upon finding the right car. I didn’t have to move money from this account to that account, I was prepared to buy. When you go to look at a car, take a substantial cash deposit to hold the car to show you are serious and let them know that as long as they have the title and the inspection goes well that you are ready to deal today. Here are two examples of what I dealt with. The first deal I attempted was a buy it now on ebay from a private seller that was a sale pending an inspection of the car. I had a cash deposit in hand and we met the next day. The car was not what I wanted when I saw it, but I paid him for the cost of the listing that I ended and offered him a little extra for his time (which he declined) and we parted ways friendly. He knew I was serious and we discussed what I did not like about the car. Very understanding. The next one I found was advertised in of all places the Dupont registry. Last place I would have thought I would ever find a car. All prices in there seem real high to me on all cars they have. Ask was 185K. I went to see the car and it was an immaculate one owner 3,400 mile three option Tungsten, no Mac (which I did not want anyway, did not like the way the sub woofer looked). Owner had been trying to sell for awhile and lived in a nice but somewhat remote part of California. This is why private sellers are better for a buyer than a dealer. One, not everyone that buys a GT is an enthusiast like the people on this site. Some people have an expensive car they want out of and unlike a dealer they do not have the time or patience for the process. Do not think I am down on dealers, they perform a great function. You can go to one place to see numerous exotics and in the case of some of the dealers that advertise on this site you may have several GT’s in one place to look at and choose from. You pay them a premium for convenience. I put 800 miles and numerous hours into driving/negotiating/going to people’s houses while trying to find my GT. Anyway, I made the owner my strongest offer first because I don’t like to screw around and offered him a 5K deposit on the spot. He wanted to think about it, and I told him that was fine and left. This is the key. If price is important to you have impulse control and leave. There may be a limited number of GT’s but there are always a few for sale and there always will be. If it is meant to be, it will be. If not you may find a better car down the road. I could tell the owner was weary with the process and that it was very favorable that he would sell. He e-mailed me a counter offer later that day which I declined and reaffirmed my previous offer and gave him a few valid points as to why I thought he should accept. The next day, he did. Purchase price, 165K. Now I feel I got a fair price. Do I think a dealer, like Shelby for example, buys GT’s like the one I bought for a better price? Absolutely, he is a pro. But I know I could not have touched a price like that from a dealer on a car like this one. Am I the world’s greatest negotiator? No way. But I set out on this quest with a price framework in mind and I stuck to it. Impulse control is not an easy thing, but if you want to get the car you want for the price you want this is one way to go. I saw a Tungsten 06 similar miles on ebay for a 187K buy it now. I am glad I still have that 22K in my pocket. Bottom line, if you want to get the best price on a GT stick to private sellers who are owners, not enthusiasts, and be ready to walk away and keep looking.
That said I think it would be useful to share purchase prices, but I understand why people might not. However long term members of this Forum I am sure avidly watched the GT prices website and there is no reason why there should not be an informal aftermarket version of that on this site. Don’t be afraid to share your purchase price. It helps people make an educated decision. The car is worth what you pay for it (price for the performance compared to other exotics is a fantastic point in the GT’s favor even at dealer prices) and paying more than someone else does not mean you made a bad deal. It means you made the right deal for you. Maybe a dealer made you feel more comfortable than a private seller. There is nothing wrong with that, but sharing information is a great way to continue to build this great community and help future owners feel good about their purchase.
Thanks to everyone who posted responses to my previous posts during my search as all of the information was useful and appreciated. In particular I would like to thank Kendall at Cooltech for graciously letting me pick his brain and visit his GT shop. He has a very impressive shop and his knowledge of GT’s that he shared with me made me a more informed buyer and will make me a better owner as well. Can’t wait to take my GT to him for a few upgrades. I don’t know if this post will be real useful, but I know that I wish I could have read something like this when I started this quest. Buying an exotic felt like a long process and was very frustrating at times, but in the end seeing that girl in the garage and putting in the seat time makes it well worth the effort at any price.
