He buys the cheapest Ferrari V12 on the market for €20,000... and discovers why a cheap Ferrari doesn't really exist.

Buy a Ferrari for the price of a new city car, the story had all the makings of a good plan. A Ferrari 612 Scaglietti, V12 at the front, mythical badge on the hood, four seats, 540 hp, and a price announced at around €20,000. On paper, it couldn't be more tempting. Except that with a Ferrari abandoned for several years, the real price is never the one initially advertised.

This 612 Scaglietti arrives like something out of a barn. The owner hasn't yet tested it, has barely inspected it, and knows only one thing: it starts. For a Ferrari sold at this price, that's reassuring enough... but far from enough.

A Ferrari 612 Scaglietti at €20,000, but with many unknowns

The car has clocked up around 90,000 km, which isn't necessarily a cause for concern for a large V12-powered GT. The problem lies mainly in its prolonged immobilization. Dry tires, oxidized brakes, old maintenance, tired bodywork: within the first few minutes, the list of defects begins to grow.

On start-up, the V12 wakes up without difficulty. Good news. But the dashboard already displays several alerts: TPMS failure, airbag, inactive monitoring system. This is hardly surprising for a car that's been out of action for so long, but it confirms that this Ferrari is anything but a simple pleasure purchase ready to hit the road.

Despite this, the road test brought an initial positive surprise. The F1 gearbox shifts, the engine revs, temperatures remain stable and oil pressure seems correct. The mechanical base seems sound. But very soon, other noises appear: rattling in the rear axle, very weak braking. The car runs, yes, but it needs a real overhaul.

The real diagnosis begins

Once the Ferrari is up, the observation becomes more precise. The underbody isn't catastrophic. The exhaust system is clean, the engine doesn't feel particularly greasy, and the car doesn't look like it's been massacred. But the running gear tells a different story.

Ball joints are loose, silentblocks are tired, discs and brake pads need replacing, tires are in the garbage can and shock absorbers deserve a serious check-up. The worrying noise we heard on our test drive didn't actually come from the gearbox, which is excellent news, but rather from worn suspension and rear axle components. On a car of another make, this type of repair may remain reasonable. On a Ferrari, everything changes. Ball joints, arms, silentblocks and special parts quickly add up.

The unpleasant surprise of the bodywork

Mechanical work is not the only expense. Upon inspection of the bodywork, another discovery was made: the car had originally been yellow before being repainted. In several places, the paintwork shows traces of the old tint, with visibly imperfect preparation. The windscreen pillar is particularly affected by the oxidation of the aluminum. The windscreen is cracked in one corner, possibly due to stress or underlying corrosion. As a result, the windscreen has to be removed, the area properly treated, the paintwork repainted, and a new pane fitted.

Distribution, brakes, wheels, upholstery: the bill explodes

Engine maintenance also has its share of expenses. The last visible oil change was in 2016, almost ten years late. On a Ferrari V12, this means a major overhaul: engine oil, filters, coolant, brake fluid, spark plugs, air filters, pollen filter, gearbox oil change and complete check-up. The timing gear also needs to be changed. On this 612 Scaglietti, the V12 uses a timing belt, an essential element to be replaced in the proper manner. The kit itself isn't the most expensive item, but the labor and associated components quickly add up.

The calipers will also be dismantled and rebuilt, with new paint, seals and pistons. The rims, oxidized and damaged, will be refurbished. The interior will have a trip to the saddler's to take care of some tired parts. In the end, the estimated cost is around €17,500. For a car bought for around €20,000, this means that this Ferrari 612 Scaglietti will cost close to €40,000 once completed.

A bad deal? Not necessarily.

At first glance, spending almost as much on repairs as on purchases may seem daunting. In this case, however, it's a potentially worthwhile operation. A Ferrari 612 Scaglietti in good condition sells for around €70,000 to €80,000. Even with €17,500 worth of work, the car would still be well placed financially. Another important point: the clutch and flywheel would have only 1,000 km. This is very good news, as this item can represent around €15,000 on this type of Ferrari.

So this 612 is not a wreck, but a Ferrari in need of a serious overhaul. It starts, it runs, its V12 seems sound, and the biggest mechanical risks seem to have been averted for the time being. All that remains is a long overhaul to restore it to its former glory.

This story reminds us of a simple rule: a cheap Ferrari is never really cheap. The purchase price may make you dream, but maintenance, parts and labor remain those of an exceptional car. Buying a 612 Scaglietti for €20,000 can therefore be a great opportunity, provided you have the means, the contacts and the skills to restore it. Otherwise, the V12 dream can quickly turn into a financial trap.

Here, the challenge remains seductive: to rescue a forgotten Ferrari, restore it to health, correct the errors of the past and restore this great Italian GT to its former glory.