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Apart from the cost of the vehicle there are a few other things that should be considered prior to ownership.

There is basically a choice between a manual 6 speed or automatic gearbox. If you select the automatic gearbox you will also get the F! style paddle shifts either side of the steering wheel. These can be used to change the gear up and down as desired. However, if you do not wish to use the F! style paddles you can simply press the A button on the center console to place the vehicle in full automatic. In this mode gear changes will be automatically made as with any other automatic vehicle.

There are a number of different insurance options available:
Comprehensive - This is basically the same as normal car insurance. In most cases the insurer bases the cost of the premium on suburb or postcode in which the vehicle is kept. There is generally no other restrictions imposed. However, this generally means that cost of such comprehensive insurance is expensive (typically >$6,000 per annum).

Classic - Give the age of the 355 it is possible to have the vehicle classified as being "classic". This results in a significant reduction in premiums (>50% generally) but it also comes with a number of restrictions. Typical restrictions that are imposed by insurers are a limit on the total number of kilometres driven in a year (around 10,000), a limit on how many days the vehicle is driven (weekends). However, there may also be restrictions around where the vehicle is garaged. In some circumstances the insurer requires the vehicle be kept in a lockup garage on the same premises as your residence. It is therefore important that you clarify these issues exactly with the insurance company prior to taking out any insurance. In one case, the first insurer would not insure a vehicle that was kept in a secure basement car park because it was in a 'common' parking area. Their requirements were a completely isolated and lock up garage so that no third party could see the vehicle.

Aside from the insurance implications mentioned above, it is important to consider where the vehicle will be housed. A dedicated garage is great but allowances need to be made for some of the unique aspects of the 355. Firstly, is there enough space to allow the doors to be opened and closed without risk of damage? Is there enough clearance to get easily in and out of the garage without scraping the car? It is strongly suggested that you check the dimensions of the vehicle, which are available in the specifications of this web site, and ensure the vehicle can be suitably housed there.

There is normally no standard used car warranty provided with second hand luxury cars that exceed the current luxury tax threshold in New South Wales. To quote http://www.fairtrading.nsw.gov.au/Consumers/Motor_vehicles/Warranties.html#Vehicles_excluded_from_secondndashhand_warranty

A luxury motor vehicle is a vehicle where the cash price exceeds a prescribed amount.  The prescribed amount is the motor vehicle depreciation limit under the Income Tax Assessment Act and is set in the annual Federal Budget.

For the purpose of the Motor Dealers Act the figure for the 2010 - 11 financial year was set at $75,375 for fuel-efficient vehicles and $57,466 for other vehicles. Vehicles sold above this price are not covered by a Statutory Warranty or the Motor Dealers Compensation Fund.

Registration Stamp Duty
NSW Registration stamp duty for the vehicle is based on its sale price and is due on purchase. The following site provides a calculation of the amount due based on the purchase price of vehicle - https://www.apps05.osr.nsw.gov.au/erevenue/calculators/motorsimple.php


If the car needs to be towed you should find a towing eye bolt in the toolkit. This is screwed into the front left of the vehicle (as shown above).