The Ferrari 512 TR is among the last of the affordably priced 12 cylinders manufactured by the Italian automaker. This model was created by combining a street car and modifying it to accept the 312T engine and Enzo Ferrari took on the task of building the first model to suit his personal preferences. Although production numbers were low, our search turned up quite a few listings. When looking for a used Ferrari the order of the day is to know as much about the model as you can, build your checklist, and start comparing prices. Here are our recommendations about how to get your hands on the best used Ferrari 512 TR.
Broaden your search and take your time
The Ferrari 512 TR is a fairly rare car but they're out there. The trick is finding one that is in excellent original condition. This is a classic car and locating comparison listings isn't that difficult. Our internet search of luxury classic car dealers yielded several options. We found that jamesedition.com, offered a nice format of their James Edition 512 TR listing complete with details and specs that makes it easy to add the listing to the group of those under serious consideration. The approximate value has been listed as $401,901, however, the example we viewed was for a 1994 model priced at $408,675. We found this example at a dealer in Melbourne, Australia
Checklist for comparisons and inquiries
The purchase of a Ferrari 512 TR is an investment. Before even inquiring, it's wise to take the time to check out the reputation of the seller prior to purchasing. Our tips for your initial pre-inquiry checklist include:
This can easily be done in most cases through online and other searches for consumer ratings and reviews
History of the car
The seller should offer documentation of the complete history of the car from the time that it left the dealership where it was first sold. It should include a record of all sales, how the car was stored, e.g.. garage, showroom, etc.
Log for maintenance and repair work
It's also helpful to have all of the records of maintenance performed. The best case scenario is that authorized Ferrari dealerships made any necessary repairs and performed routine maintenance on the recommended schedule. Most highly collectible cars that have been identified as rarities are treated with the utmost care with detailed records supplied because of their value.
If you're working with a dealer, it's great when a 512 TR is offered in genuine factory condition. This augments the value versus a vehicle that has some shortcomings, damage, or signs of wear. You may pay a little more if everything is genuine from the factory. Most collectors wouldn't allow repairs to be completed with aftermarket parts, but it's necessary to confirm that everything is factory original or Ferrari replacement parts vs OEM for the sake of value.
The Ferrari 512 TR is a car that was meant to be driven. It's a bit of a conflict when it comes to protecting the car from potential hazards by garaging vs taking it out on the open road for its intended purpose. Most owners will take them out and drive. The examples that have a lower mileage count along with other factors are considered to be more valuable as with any car you would buy.
Check out the trouble spots
There are a few areas that have been problem areas in the 512 TR and it's worth an inspection to make sure that none of them are present. If they are, consider this when deciding the value of the vehicle. Corrosion tends to build up under the four wheel arches if the owner doesn't stay on top of it. Also check for signs of rust on the sills, the windscreen surround and the floors. The intake strakes are also prone to corrosion. Inspect the edges of the leather dash for shrinkage, especially around the trim. The rubber of the oil and fuel hoses, coolant, and bushes should be inspected for deterioration.
The final inspection item is a query about the use of the car. It's not good to leave them sitting for extended periods of time. There needs to be some record of regular use. While it's not an everyday commute vehicle, it's good to fire up a 512 TR and take them out for a good stretch of the legs every now and then. This helps to prevent the fluids from condensing.
The Ferrari 512 TR models we found and checked out ranged in price from $129,196 through just under $409,000. The model year will affect the value along with the condition, accompanying logs and documentation, and its rarity. You might find one that is in less than pristine condition for a lower price. When assessing value, consider the cost of any necessary repairs or replacements to bring the investment to pristine and genuine condition. This includes replacing any aftermarket parts, body work, replacement of worn or damaged items and so forth. There's little to be done if the vehicle is high mileage, but you can ensure it's in top running condition with a trip to an authorized Ferrari repair and maintenance shop. Do the best you can to get a good deal so you're not overpaying when considering value.
It's not difficult to get your hands on a used Ferrari 512 TR. Although rare, there are quite a few listings for this investment model. Careful attention to the condition of the car, inclusion of the logs and accompanying documentation, reputation of the seller, and mileage are a few considerations to make before you call to begin the negotiation process. It's similar to buying any other used car, but there is a lot more on the line when buying a collectible.
Written by Benjamin Smith
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