1998 Ferrari 550 5.5L Petrol · HER 550Y

The 550's F133 V12 is generally robust, but oil leaks from the cam cover gaskets, front camshaft seals and rear of the engine are routine as the cars age. Leaks are best addressed at the cam-belt service when access is easiest. Oil dripping onto the exhaust can smell and, in extremes, create a fire risk, while low oil levels risk engine damage. Check for oil residue around the cam covers, under the engine and on the garage floor.

Early 550 Maranellos can suffer difficult gear selection, particularly into first, third and fifth, and wear of the second and third gear synchromesh, causing crunching or reluctance to engage even from cold. A full rebuild is expensive and some internal parts are no longer readily available, which can make the work very costly. Test every gear when cold and warm during the test drive; any crunch or missed shift should be investigated by a specialist before purchase.

Coolant leaks into the engine Vee from ageing hoses are a known 550 fault, and owners report the hose under the intake manifold splitting and repeating even after replacement. Low coolant can cause overheating and, left unchecked, head-gasket or head damage. Look for coolant residue around the top of the engine, a falling coolant level between services, and a sweet smell after hot runs. Pressure-test the cooling system at a pre-purchase inspection.