| Author | Message | ||
| Jeff Edison (Euro308guy)
Junior Member Username: Euro308guy Post Number: 62 Registered: 7-2002 |
Hate to "me too" the group, but yes, in my opinion the 308 is a poor choice to try to restore and make $$. As most here know, I started with a fair-nice 308 and totally went throught the car over a 3 year period. I have over 50k in the car and that doesn't even count my time. The car is now somewhere between excellent and show, (it will show NICELY but may only win "peoples choice"). I found my next car (a 348), and now am in the process of selling the 308QV. I sold it to a person on eBay, for a bargain price of 34k, now he wants to back out. On top of this, I get e-mails and phone calls from bozos who don't now a 308 from a TR and give me comments like "well it has lots of after-market partson it", (it doesn't), and "well I can buy one for 30k". I don't regret for a minute twsting the wrenches- it's theropy. It was a great time making the 308 awesome, but I'll never get anywhere near what I have in it. I may take the dead beat to court, but that's another thread.......... | ||
| Ken (Allyn)
Member Username: Allyn Post Number: 584 Registered: 10-2001 |
I have about $18k invested in my Lotus Europa and it's a $15k car now. I don't consider that a bad deal at all. It's a fun car to drive and look at, and pretty simple to work on except for a few things like the water pump. Not a Ferrari, but a Europa TC or TCS makes a great project car for a DIY type. | ||
| Mark Eberhardt (Me_k)
Junior Member Username: Me_k Post Number: 226 Registered: 5-2002 |
James, I don't know if there is any such thing as a rough car that you can assume the engine and driveline are good in. At a minimum you will need gaskets and seals ($1000), belts, hoses waterpump bearing and seals, tensioner bearings, valve shims. Figure about $2000 if you do the work yourself. Carpet is about $500, $500 to redo the dash (it will probably be cracked), $1000 for seat covers, $350 for door panels, $350 for center console, $1500 for the materials to do a good paint job. You will run up 10k in parts in no time flat. If you have fun, maybe it's worth it, that's up to you. I bought a rough car and did most of these things because I wanted to do some customizing. It was much cheaper to buy a car that already needed the parts I wanted to change. I love the car, but it is definately not worth the money I spent on it as far as resale. | ||
| Terry Springer (Tspringer)
Member Username: Tspringer Post Number: 365 Registered: 4-2002 |
James, Dont do it. I fully understand the allure of restoring old cars and I have restored many myself. I even made it a business for awhile. Restoring cars is a great hobby... but pick the right car. A 308 series Ferrari is a bad choice because there is just no way to make out in the end. You could very easily end up with $50K in a $35K car. Pick something like an E-type Jaguar. You can get a complete, non-running and only slightly rusty '65 to '67 series 1 XKE Roadster for around $15K. They are VERY cool cars and among the most beautiful ever to turn a wheel. Parts are not hard to get. They are not terribly complicated but are sophisticated enough to be a challenge. You may spend $35 - $40K on doing the full restoration but when done, if done right, the car will be worth $60K+. You have fun, you have a very neat car and you come out in the end. Better deal all around. If you want a 308 project, buy one for $20K that needs some minor cosmetics or perhaps minor mechanicals. Then spend $10K on it and if your VERY lucky you can break even while having some fun. However, a full restoration on a 308 series would be a financial disaster. | ||
| Mark (Markg)
Member Username: Markg Post Number: 326 Registered: 2-2001 |
I have an 82 GTSi that was phycially almost new, people can't believe the paint is 20 years old, with only minor wear on one seat. I have spent over $15k in 6 weeks just after purchase updating neglected maintanance (belts, gears, clutch, flywheel, fuse box, seals, etc.). My advice would be get a car in excellent shape body wise and concentrate on making it reliable: updated after-market belt/gear kit, direct fire ignition, water pump, fuse boxes, fuel hoses, etc etc. There is nothing on a 308 inexpensive...$300 EACH for distributor caps, $500.00 for water pump, no amount of money can get you a turn signal switch assembly, $200-300 each for brake rotors, $250 each for OEM fan motors, etc. Just bear in mind you will not recover expenses when time to sell, but if you are looking for a daily driver and plan to keep it, it might be worth it to you. When mine is running right it is the best running car I've owned. | ||
| David Jones (Dave)
Member Username: Dave Post Number: 488 Registered: 4-2001 |
James, I have worked on many rehab, and even full restoration projects as well. All I can say is if that's what you love to do, then do it.... I will give you my advice on restoration work, whether or not you take it is up to you.. Always start with the best example you can afford... unless you have a money tree, why throw perfectly good money away. I don't know about you, but to me time is money, as well... Restoring a 3xx series car from an iffy point is not a lucrative venture, so like Tommy said, unless you just have a pocket full of money your wanting to get rid of, and are going to "keep" the car, then have at it. A lucrative Ferrari restoration would include vintage collectibles... a 308/328 is not really vintage, and there are large numbers of them out there so they are not really a collectors item. I guess what it all really boils down to is, how iffy, is iffy? Motor internals usable.... does that mean in driving shape, or rebuildable? In simple terms, you could easily reach the price of your Viper doing a restore on a 308 depending on condition, even doing all the work yourself.... and still only get a 308 price when you sell it. hell you could buy 3 very nice 3xx series cars with the money, and be driving. But, like I said... if that's what you love doing, then do it. | ||
| Wade R Nunez (308nut)
New member Username: 308nut Post Number: 37 Registered: 7-2002 |
James, I just finished a restoration job on an 83 308 GTS and was very please with the results and since I did all of the work myself the price was low. I have pictures documenting the whole thing, let me know what I can do to help , I posted a thread earlier with pictures and how it started and proceeded, I am not sure if it went to general discussion but it is on hte Louisiana page Wade www.fortunemotors.com | ||
| Eric Eiland (Eric308gtsiqv)
Member Username: Eric308gtsiqv Post Number: 493 Registered: 11-2001 |
Dr. Cosgrove: Very well put....my sentiments exactly! | ||
| James Adams (Madmaxx)
New member Username: Madmaxx Post Number: 13 Registered: 11-2002 |
Not going for a full frame off... just a minor /mid-level restification and freashen. I'll leave the full blown resto's to the rare cars (perhaps a 288 sitting in a barn? hehehe). Anyone have any good resources for parts? | ||
| magoo (Magoo)
Advanced Member Username: Magoo Post Number: 3761 Registered: 2-2001 |
David you missed out. That girl only 3 ft tall, if she had a flat head that was where you could set your beer. | ||
| Dr Tommy Cosgrove (Vwalfa4re)
Member Username: Vwalfa4re Post Number: 447 Registered: 5-2001 |
You should do it only if you really want the car and plan to keep it. If so, money and rationality do not apply. I have always wanted a 308. I bought a good one and have spent a lot of money on various cosmetic things. It didn't need it but I wanted to. My money. I have a 1980 VW Scirocco that I have owned since I was 17. I will never get rid of it. Five years ago she got a new leather interior. Two years ago she was stripped to the metal and repainted. I spent a bunch on that too. Right now she is in the shop receiving a new 16V engine and so far it has cost me around $3500 and I am still not done. Bottom line I have a $500 car that I have spent close to $10,000 on fixing it up. Why? because I want to. That's why we go to work every day, to get money and enjoy ourselves in life. Do what YOU want to do. | ||
| Matt Lemus (Mlemus)
Member Username: Mlemus Post Number: 947 Registered: 8-2002 |
James, i think if you keep it to a minimum. paint, interior, and some trim pieces, you'll be fine. A body off restoration on a 3X8 is a but over the top unless you plan on showing it. m | ||
| James Adams (Madmaxx)
New member Username: Madmaxx Post Number: 12 Registered: 11-2002 |
But, she would have had to been beautiful once... More like your perfect wife, who loses her beauty over time. Do you just dump her for a newer model? to some people, that's all old cars are; hunks of metal that are better off parted out or scraped. Same goes for anything vintage... Why spend time restoring a old hunk of wood? There's tons of new tables available at any store... Like any old car, they weren't born old and rusted, they got that way over time. Someone can put the time into a restoration and bring back a piece of history, or just let it die. If everyone just let them die, then there wouldn't be very many car shows :D MM | ||
| David Jones (Dave)
Member Username: Dave Post Number: 486 Registered: 4-2001 |
I almost married an ugly woman. She was grossly over weight, covered with zits, had no chest to speak of, and was only 3 feet tall. But I thought with a little TLC, lyposuction, plastic surgery, breast enhancement, and lengthening of her legs she would be a stone cold fox.... But instead I married someone who already had the qualities I was looking for. | ||
| James Adams (Madmaxx)
New member Username: Madmaxx Post Number: 11 Registered: 11-2002 |
Oh, and I have access to a full body shop if needed (Father in-law owns a collision shop)  MM | ||
| James Adams (Madmaxx)
New member Username: Madmaxx Post Number: 10 Registered: 11-2002 |
Ok, i'm sure everyone has heard this before. The restoration of an "iffy" 308 or even a 328... who's done it? I'm seriously considering it. Yes, I know it would be cheaper to buy a nice example and be done with it.. but there's more to it (in my op anyway). I'm no stranger to restorations, and I actualy enjoy it. Most people can't understand why I spend tons of money on a "old rusty hulk" (what my neighbor called my 440+6 RoadRunner when I brought it home). I guess it's seeing something reborn in some respect, getting a new lease on life. When I finished the RR for example, my neighbor could not belive it was the same car! What are some of the general large $$$ drains w/ the 308/328 series? Assuming the motor internals are usable, how much on general resto? I have more tools than most, I can weld and do fiberglass (and carbon fiber) work as well. For some, restorations are a waste of money, and quite frankly, sometimes they are LOL But, i'd like to work on something vintage that I can appreciate. Thanks James |