| Author | Message | ||
| magoo (Magoo)
Intermediate Member Username: Magoo Post Number: 2494 Registered: 2-2001 |
Glen, Offer what you think is comfortable and go with it. I think you got a nice car there. But as you have been advised, Have it checked out for a few hundred and check all the major areas of the car,engine, trans, etc. | ||
| Lou B (Toby91)
New member Username: Toby91 Post Number: 45 Registered: 4-2001 |
The 328 is a great car, classic styling, Sub 6 sec 0-60, mid 14's in the 1/4 and essentially bulletproof. I put 60000 miles on mine and will never sell it. Some price data: The Ferrari Market letter shows an average asking price of $59.8 for the 89 ($50K for the 86-88) and Sports Car Market Price Guide states a selling price range of $40-50K for the 89 and $35-42 for the 86-88. I would get the car inspected beforehand and if you buy it get the major service done by a dealer who will guarentee his work. Good luck and don't forget the value of the smile factor when you drive it! | ||
| magoo (Magoo)
Intermediate Member Username: Magoo Post Number: 2473 Registered: 2-2001 |
Peter, I wouldn't be worried about seal leaks on a 89 with 11,000 miles on it. I have a 79 GTS with only 7,000 miles on it and it doesn't leak. Doubt the mileage if you like but it doesn't leak. BRGDS | ||
| BobD (Bobd)
Member Username: Bobd Post Number: 375 Registered: 3-2001 |
The 328 is the best, most reliable, least expensive to repair and highest quality Ferrari built through 1995. Buy it for fun now but watch the prices on this classic go up when the economy turns around. And it's not cheesey. | ||
| Alberto (Aabreu)
Junior Member Username: Aabreu Post Number: 51 Registered: 9-2001 |
Glen: I was in exactly the same position you were three months ago. I purchased a 1987 328 in late December, 2001, delivered in January 2002, with 9000 miles and needing the 30k service (including belts) on account of age. My advise is as follows: Based on my search, I always got the impression that the market was actually higher than the guides will tell, if you are looking for a car in great condition. In addition, a 1989 328 gets a premium on account of it having anti-dive suspension and ABS brakes. I agree with Rob and Chris with their assessment of the price point for this car. If you can get it for $45 or 50, I'll be envious, and more power to you, but I do not believe that to be the market price for a 328 in the year, mileage and condition you have before you. Ignore the comments about the 328 not having sufficient horsepower, as well as about the low mileage. The horsepower is plenty to start with. Buy what you can afford now, move up later. Mine is my first Ferrari and had 9000 miles when I bought it. I had it delivered directly to a mechanic for the 30k service. I paid about $5,000 for the service (including included belts, water pump, etc, plus a new clutch, everything.) I have driven it 900 miles in three months, and have had zero problems with it. It took me about 10 months to find the "right" car. Based on my experience it is better, in my humble opinion, to overpay a little for a great car, than try to save a few thousand and get a lesser car. I paid a little more than the guides and some people will tell you for mine, but I got a great car. I assure you that you will not regret it. I regret my purchase not one bit. Good luck. It does seem daunting and intimidating from the point of view you are at now, but once you jump in, you will love the experience. In fact, your problem will be (at least mine is now) how the hell do you save enough money to buy another one or to move up to a 355 (or whatever floats your boat.) | ||
| Jack (Gilles27)
Junior Member Username: Gilles27 Post Number: 104 Registered: 3-2002 |
Thank you to all of you who rallied to the defense of the 328. Mine is expected to arrive this weekend, and I can't wait. While some people always need to have the newest and latest, the other variable enthusiasts sway to is the styling. I first fell in love with the 308 body style as a kid, and then with 328 as well. When I decided to finally buy a Ferrari, the issue was never the money--I wanted "my" Ferrari. | ||
| Dave328GTB (Hardtop)
Junior Member Username: Hardtop Post Number: 92 Registered: 1-2002 |
I bought my 89 328 GTB red/tan 7300 miles, 30K svc just done from a dealer for 62K. That is all the money retail but there are only 40 GTB's and not many met my criteria so I swallowed hard and sent money. Low mileage 89's routinely sell in the 60K range unless an off color like white or blue. My local dealer also said he figures black interiors for 2K less. Others may disagree. There are a lot of low mileage 89's around because people bought them for investments for about 150K in '89! Don't listen to crap about 328's being entry level! I had newer cars, sold them and went back to 328. Dino's were entry level too and are now worth more than boxers. 328's are great looking and great driving cars and may be the most reliable. 89's do sell for a big premium over earlier years. Some people think they are worth it, some don't. I did have an 87 GTS before and can say the 89 has considerable improvements, especially in the steering and suspension along with the ABS, but earlier cars are great also. Despite low miles, I have spent 0 on the 89 so far. There are no leaks. Sometimes the starter did not work which I solved by cleaning battery terminals and connections. My 87 which had 30K-42K miles during my ownership was also very free of troubles. Nevertheless, I would put the car up on a lift and check the following spots for leaks: shift shaft seal where it goes through the oil pan, bell housing (rear main), distributor caps (cam seals), front seal and the water pump. If seals on the water pump are bad, a rebuild is about 350. and can be dome when timing belts are changed for a big labor saving. A rear main or shift shaft leak are the most expensive to do (labor). Have the A/C checked to make sure there are no leaking seals. Check brakes for sticking calipers. Bottom line is if it all checks out 50K would be a great deal and 55K would be just fine. If you are in this car for 60K or less after service, that's fine. Nice 89's can't be bought in the 40's even needing service. Hope this helps. Dave | ||
| Rob Lay (Rob328gts)
Board Administrator Username: Rob328gts Post Number: 1442 Registered: 12-2000 |
Not all low mileage 328's have problems. BobD's has low miles and is perfect. Since he's owned it only thing needed were oil changes. I think the key is the frequency it was driven. Although Bob doesn't put many miles on it, I think it gets out of the garage on a regular basis. The previous owner must of done the same as evidenced from the lack of problems. | ||
| Peter S�derlund /328 GTB -88 (Corsa)
Junior Member Username: Corsa Post Number: 161 Registered: 4-2001 |
Hi Glen With only 11000 miles you must expect some minor or even major oil leaks due to dried out seals etc. Replacing those seals could cost you a lot. My 328 have 50k miles and no leaks. A friend was forced to sell his low mileage 328 because of the service bill including leak fixes. How to check this, I don�t know. The best is if you could clean the engine, drive it for a while and have all the leaking seals replaced on the sellers expense. Anyhow, you must consider this. I love my 328 and as a report from yesterday I can say that a BMW Z3 Coupe (320 bhp M3-engine) couldn�t pull away from me on 100-135 mph roads. I had better handling in the bends. The M3 had slightly better acceleration up to 80 mph, similar to the 328 up to 135 mph. The M5 lost in the bends but gained a lot on the straights. I�m really satisfied with yesterdays exercise with the M3 and M5  Ciao Peter | ||
| Chris Tanner (Ctanner)
New member Username: Ctanner Post Number: 15 Registered: 5-2001 |
The 89 is the premier 328. A car in red/tan colors could garner $55k without the service. Other colors will sell at a small discount. $50K would be a great purchase price on your part. If the car has been for sale for a few months, the seller may accept it. If he just listed it, then I think he turns it down. An 89 with 11k miles in exceptional condition and records from the original owner is a find. It may be months before you see another car like this. Still, I would not personally go over $55K. | ||
| magoo (Magoo)
Intermediate Member Username: Magoo Post Number: 2446 Registered: 2-2001 |
Glen, Offer $50 K and have the servicing done yourself. Then you know what was done. Sounds like a nice car to me. It would be good though if there was a Ferrari Mechanic around who could inspect it for few hundred to be sure the major things were OK. Then if OK buy it and have the 30K service done yourself. | ||
| magoo (Magoo)
Intermediate Member Username: Magoo Post Number: 2445 Registered: 2-2001 |
Glen, You ask where do you feel comfortable parking the car? My answer is my garage. Even though you like people to see it don't assume it will be OK parked anywhere. The moment your back is turned someone will key it. I know this is sad but you will have a nicer car longer by thinking this way. | ||
| Jim E (Jimpo1)
Member Username: Jimpo1 Post Number: 350 Registered: 7-2001 |
I think Glenn is right on target. I would be a little concerned about the lack of miles, but the car has to be "BobD" pristine if it's only been driven that much. After his 30k he'll have a great car. | ||
| Greg Owens (Owens84qv)
Member Username: Owens84qv Post Number: 328 Registered: 10-2001 |
When I've gone to restaurants, I've been known to park on the grass away from all the other "don't give a damn" people who swing open a car door oblivious to the automobile beside them. | ||
| wm hart (Whart)
Junior Member Username: Whart Post Number: 220 Registered: 12-2001 |
Yes, ownership costs have to include an unlimited supply of 20 dollar bills, handed out to parking valets, not to park it and let you put it in a place where no harm can come to it. Sometimes i've been tempted to carry my own orange cones.Come to think of it , i'll bet somebody does. Any confessions? | ||
| Rob Lay (Rob328gts)
Board Administrator Username: Rob328gts Post Number: 1441 Registered: 12-2000 |
Yes, spell check is available, but everyone complained because it would highlight any contraction or pluarl word as a mispell. When I have time I will try to find a larger word database. The current one is 220k words. An 89 with that many miles is in the $53-60k range I think. Especially since one owner and all records. Althougth that would be the price if the 30k had been done within the past 3-4 years. Maybe $49-54k is the target then. Prob about $3-5k less if not Red. The 308/328/Mondial is above and beyond the best budget reliable Ferrari. If I could afford one I would have a 355, but I can't and so I love my 328. | ||
| Greg Owens (Owens84qv)
Member Username: Owens84qv Post Number: 326 Registered: 10-2001 |
Glen, if it were me and based on the limited information you've provided, $45K would probably be my high mark. As suggested, definitely take the car to someone that knows Ferraris, Lamborghinis, etc. If it hasn't had service for 9 years, there are a lot of gremlins that could be lurking. It sounds as though the car has had 5800 miles put on the odometer in 9 years (since 1993). That's only 600 a year on average and that's not much for a 328. As far as parking the car...only where I can watch it. If I go to a restaurant, I will wait for a window seat so I can watch my baby. I never take it to a mall or a store where its out of sight. But then again, I'm VERY protective of my F-car. | ||
| j scott leonard (Jscott)
Junior Member Username: Jscott Post Number: 53 Registered: 1-2002 |
Glen: I bought my 89 328 gts last December. Total purchase price was 38,800. It has 33K miles and all records and maintenence was up to date. The car would not be considered pristine but it was just off cherry! I have put another $5K into it and it is now about perfect. I love it and find the power very satisfying. 270 HP is still more than you find on most cars and nothing is as much fun to drive as a Ferrari. Like has already been stated, a few miles is good for these cars. A recent offering on Ebay for an 87 with 169 miles went for around 70K but the car probably should just be used for shows since the rubber and all seals are old. It will probably be a real nightmare if someone wants to put it into use. Don't hesitate on the 328, you will love it and the look is classic! I think that around $45-50K should do it. You can get a market report using NADA guides. (if I have any spelling errors, forgive me, I just have two masters degrees but can't spell without spell check!Rob:is spell check available on the site?) | ||
| Glen (Nugget)
New member Username: Nugget Post Number: 3 Registered: 4-2002 |
Thanks for the advice Greg. So I am in the ballpark I guess. I am not looking to race the car but just go on drives with my wife on some good roads. Where do you feel comfortable parking the car? I think I would be real nervous someone would key the car or bang a door into it. Thanks for the spelling tip too. I was sick the day in kindergarden when spelling was covered. Glen | ||
| wm hart (Whart)
Junior Member Username: Whart Post Number: 219 Registered: 12-2001 |
The 89's fetch a premium, and the one you're looking at has very reasonable miles. Retail price, from a dealer, after everything has been taken care of, would be in the 55k "ask" region, possibly selling below that, so 50k is not by any means a hard low ball, particularly if you don't know what the car needs. If it hasn't been driven, it may need more than a "belt" service. Is there a reputable person near the car that can give you an honest appraisal of its needs? The cost of getting it right should obviously be a factor in the final price, and as we have seen, sometimes the prepurchase inspection may be a bit overboard on the details, but it is good to know what you are buying into. also, who did the service in the past, and what is their reputation? I wouldn't be too put off by the 328 v. 348 thing: i've had both, and while the 348 is much, much punchier, you won't find a good one (read: spider, with late mechanical improvements) in that price range, but only early berlinettas and ts cars which had some well-recognized shortcomings. The 328 is,in some ways the more complete design anyway, is to my eyes, a better looker, and frankly, if you were buying it just for speed, you probably shouldn't even bother with a ferrari at all in this price range. The 328 will handle real nice, and as long as you're not too big, you will find that you can almost wear it when you drive. (I was good with it only when the top was off, and then, i couldn't stow the top behind the seats, cause it prevented me from canting the seat back as fully as i liked). If it is a good one, you will enjoy it.(PS I forgot to indicate that purchase from a private seller would obviously be less than the retail price at a dealer, so i think, on balance, that you are actually high right now, at least as far as price is concerned. I don't know about your state of mind or intoxication, generally, but that's a different issue...). | ||
| Greg Owens (Owens84qv)
Member Username: Owens84qv Post Number: 324 Registered: 10-2001 |
Also, the correct spelling is "fair"...as far as a "fair price" goes. | ||
| Greg Owens (Owens84qv)
Member Username: Owens84qv Post Number: 323 Registered: 10-2001 |
Glen, I purchased my first Ferrari this past October, a '84 Euro 308QV. It is an amazingly quick little car and the 328 has a little more BHP than the 308 series. As far as Jim's comments about the 348/355, it all depends on what you want to do with the car. As Magoo eluded to, If your 328 is intended to be a general around-the-town exotic sports car, I think the 328 is a fine choice. Even if you decide to track the car occasionally, it is a fine car. The 348/355 do have more BHP, but they will also be more expensive initially and maintenance will be more. As far as your original question, I think you'll find late 80's 328's selling for mid to upper 40's...and high 30's / low 40's for a 86/87 with higher mileage. I would probably offer $45K knowing that you'll need $3-5K for your 30K service. Also remember, Ferrari's are meant to be driven so finding a 308/328 with higher mileage is not necessarily a bad thing. It's the ones that sit around becoming garage queens are the ones you need to think twice about. | ||
| Glen (Nugget)
New member Username: Nugget Post Number: 2 Registered: 4-2002 |
Thanks for the response. I would love a 348 or 355 but I am limited by finances. I am a pilot in the Air Force and have saved up as best I can. A 328 is doable right now and I would like to start with it. I know it might not be the fastest Ferrari but for someone like me, just getting my foot in the door is a huge step. Do you have any suggestions about the pricing of the car I am looking at. I don't want to low ball the guy but I want to get a fare price. Thanks again, Glen | ||
| magoo (Magoo)
Intermediate Member Username: Magoo Post Number: 2430 Registered: 2-2001 |
Jim, I think that depends on who is driving the 328. There are a lot of 328 and 308 owners on the F.C. that would dissagree with you. Entry level or not it still is a Ferrari. That is a point that is respected here on the F.C. and each person is a member no matter what Ferrari he drives. | ||
| jim galli (Galli)
Junior Member Username: Galli Post Number: 73 Registered: 3-2001 |
Buy a 348 or 355 you will soon get tierd of the lack of BHP I had a 328 for a couple of years its still an entry level ferrari | ||
| Glen (Nugget)
New member Username: Nugget Post Number: 1 Registered: 4-2002 |
I am a first timer on this site. I have a question and need some help. I am looking at buying a 1989 328GTS with 11,000 mile on it. I have looked at the car and have driven it. It is in exceptional condition inside and out. It was owned by a 57 year old man, original owner. It has all of the maintenance records. The car had it's 7,500 mile service in 1993, 5,200 actual miles, but has not had its 15k or 30k service even though it evidently should have been done based on the age of the car. The 30k inspection will cost about 5k here in the southwest at the Ferrari dealer, including belts etc...The big question, what is a fare price for the car? I was thinking to offer 50k seeing I will have to immediately put at least 5k into the car. Either that or offer 55k but have him complete the service first. What do you out there think? Am I way off base or is that a fare price? I would appreciate any comments on this first and foremost but would like to hear anything anyone has to say about owning a 328 GTS. Thanks a million, Glen |