Fast 'N Loud. Anybody watching?

Discussion in 'Now Playing - TV Show Talk' started by sean67854, Nov 13, 2012.

  1. PotentiallyCoherent

    PotentiallyCoherent Member

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    Shouldn't we be complaining about someone else owning something so expensive that no one should be expected to repair it? What are the poor supposed to do?
     
  2. jeepair

    jeepair Member

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    That frame straightener was pretty awesome and wish they spent a bit more time showing how it worked. Even when it is finally fixed up I don't know if I'd pony up the cash to pay for a rebuilt car from something that should have been totaled. Then again I suppose 700k is cheaper than 1million but if I could afford it in the first place, whats 300k. :p

    Perhaps the engine upgrades will make it sell better/quicker.
     
  3. Bob Coxner

    Bob Coxner Active Member

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    The F40 project is interesting but doesn't really fit the F&L style. It's not in their shop and they're not doing any work on it (other than a few spot welds). They're just paying part of the money and anyone with a lot of money could do that.

    Also, the changes to it that Richard was suggesting are crazy if they want to recoup their investment. Rich old white men don't pay 1 million for a Ferrari that's been altered to fit Richard's sense of style. It's all about originality.

    Let's get back to barn finds that can be hotrodded.
     
  4. Bob Coxner

    Bob Coxner Active Member

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    There was a brief shot of the repair cost chart at the body shop. It showed $135 an hour for labor.
     
  5. pmyers

    pmyers Well-Known Member

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    I agree with this. Richard seems to lose a lot of money buy making design decisions that he likes but hurts the resale value of the car.

    Why not find a buyer first and then paint the car to their liking.
     
  6. pmyers

    pmyers Well-Known Member

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    I totally agree about that straightener....I'd love to see more of that.

    I disagree about the smashed car though. They mentioned that Ferarri requires with 4mils of spec for them to re-certify it and they are aiming for within 1 mil of spec. As far as Ferarri is concerned this car will meet or exceed a car coming right off the line.
     
  7. late for dinner

    late for dinner Past Expiration Date

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    so with a choice of a not wrecked vs. wrecked and repaired to better than new spec's you would take the ???

    I'd take the not wrecked car myself.
     
  8. Gregor

    Gregor Wear Your Mask! TCF Club

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    I saw that, that seem extraordinarily cheap. I would venture to guess the shops around here that do Ferrari are much more than that - the body shop where I got my TSX fix charges $95/hr to work.
     
  9. Gregor

    Gregor Wear Your Mask! TCF Club

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    Being the car will probably have a salvage title, I'll pass on the refurb.
     
  10. Gregor

    Gregor Wear Your Mask! TCF Club

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    Although ISTR to remember that's $135/hr for every guy working on the car, so if you had 7 guys working on the frame straightener, you're somewhere north of $1000/hr to get that done. I think they said it took a week to get the frame straight - so call it $50k to get the frame done.
     
  11. phox_mulder

    phox_mulder I get paid 2watch TV

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    Salt Lake...
    Pretty sure it's just $135 an hour, paid to the shop.

    The shop then pays mechanics what it feels they are worth, more like $20-$30 an hour, more for the "specialists".
    2 guys working on it for an hour, shop pays them $30 each, pockets what's left (using it to make payments on that straightener for example)


    phox
     
  12. PotentiallyCoherent

    PotentiallyCoherent Member

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    I like the show. It goes over the top with what's his name's personality, but at least we get to see some of the inside workings of the process, which is what interests me.

    As for the billing; most shops charge by the labor hour, which means that for each person involved, the posted rate is charged.
     
  13. pmyers

    pmyers Well-Known Member

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    My understanding was that it will NOT have a salvaged title...otherwise what is the point in having Ferarri re-certify it?
     
  14. pmyers

    pmyers Well-Known Member

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    My buddy and I were talking about this....To somebody that has mega bucks, of course they wouldn't touch a wrecked car....but to somebody who this is a financial stretch to buy....they would certainly be interested in saving $300+k. That's who I think they are going after.
     
  15. NJ_HB

    NJ_HB TiVo/MCE/PSP

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    I recall Arron saying that the car was from 1991 (correct me if I'm wrong) and as good as the car was then he could make it better with modern running gear and more horse power. if you are buying the 91 you are buying a (dare I say) classic and when the boys are done with it, it is going to be special and that may be worth something to someone. From what I've read, just over 1300 were built between 1987 and 1992 making it a rare car for collectors.

    http://www.roadandtrack.com/go/car-culture/silodrome-ferrari-f40-for-sale
     
  16. pmyers

    pmyers Well-Known Member

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    I think you are close....I seem to remember 94 or 95.
     
  17. late for dinner

    late for dinner Past Expiration Date

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    91 was my memory ;)
     
  18. pmyers

    pmyers Well-Known Member

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  19. Bob Coxner

    Bob Coxner Active Member

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    As much as I love F&L I'm beginning to think that much of the Ferrari story was scripted.

    The Houston news story about the crash says the car was worth "at least $500,000". That was in original condition, not a crash repair. Our story has it valued it $800,000 after repairs.

    Here's a 1991 F40 that was owned by Lee Iaccoca (adds to value) with only 283 miles on it. It sold for $781,000 at auction in January 2012. http://www.rmauctions.com/lots/lot.cfm?lot_id=927517

    1991 F40, Monterrey auction in August 2012. $715,000. http://www.rmauctions.com/lots/lot.cfm?lot_id=1052948

    F40's were made from 1987-1992. Older is generally better for value. As noted in a story link above:

    "Pre-1990 F40s are generally preferred by collectors as 1990 was the year that US emissions regulations required that the cars be fitted with catalytic converters, as an ’89 model this car has no such nonsense bolted to it."

    As for a "salvaged title" I'm sure the car was insured before the crash. It was the insurance company selling it after they totaled it. From a story describing salvage titles:

    "When a vehicle has been in an accident and the total damage exceeds a certain percentage of the value of the car (ranging from 75-90 percent), the insurance company will decide that it is not economically feasible to repair it and declares it a "total loss." What happens next varies by state, but in general, the motor vehicle agency will then issue a "salvage certificate" to the car. This means that the car cannot be driven, sold or registered in its current condition.

    Usually, the insurance company sells the car to either a repair facility or parts dismantler. If the car is repaired, most states require that it pass a basic safety inspection before the motor vehicle agency will issue a new title. When the state does issue the title, it's "branded," and notes that the car has been salvaged or rebuilt so future owners are aware of its past."

    If this F40 was insured before the crash then it will have a branded title. If nothing else, there's still Carfax. :)

    Overall I could have done without the F40 story. It doesn't fit what makes F&L so much fun. Also, it disturbed me how many changes they made to the original specs of the car - especially the color. The whole concept of "classic" means the original design of a car should be maintained as closely as possible. If you watch Chasing Classic Cars you'll know that cars that have not been restored are now often making more at auction than restored ones.

    If Rich was in the art business he would want to add more color to the Mona Lisa and improve her smile.
     
  20. snowjay

    snowjay 40mph couch potato

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    Almost in...
    The thing is that that particular F40 was wrecked so it would never be an unwrecked/unrestored/unmolested car, why not change the color and other items?
     

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