These 355s ??? WTF ? | FerrariChat

These 355s ??? WTF ?

Discussion in 'Canada' started by MS250, Oct 4, 2006.

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  1. MS250

    MS250 Two Time F1 World Champ
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    So,
    I have been tracking these 355 prices the last little while. I cant believe the US prices versus the CDN prices. I know there is no identical used car out there, but if you match year to year with serivce history and do the calculation the prices are messed. Seems like for 70K u.s you can get a nice 355........as opposed to 110CDN. Whats going to happen to this car in just a few short years (4 to be exact) when the Euro/US cars can now come here ? Its really putting off my search.

    And let not even go there with the 360, that price variance seems like half ?

    WTF ?
     
  2. JamesSimpson

    JamesSimpson F1 Rookie

    Jun 29, 2005
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    more 360's then 355's, more 355's available for sale then there are here, dealers/owners are trying to get top dollar while they can, before the u.s and euros are allowed here, then i imagine will bottom out around $70-$90,000 like the testarossa's have.


    hope that makes sense, it's been a very very long day.
     
  3. cavlino

    cavlino Formula 3
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    Makes sense to me, hope your long day was at least worthwhile, say hi to Sergio for me :)
     
  4. ClassicFerrari

    ClassicFerrari F1 World Champ
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    Rick, you say it's putting off your search? I know you would never consider a U.S because you've told me that. But at these prices would you even think about it down the road? There are some A+ guys down there that will sell you a perfect example if you do your homework.

    I'm just curious. Because I too have never been a fan of buying a car so far away. But its getting temping...

    V..
     
  5. MS250

    MS250 Two Time F1 World Champ
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    I would not consider buying out of country, but with the 355 numbers so high, just thinking if James is right that the 355 will hit the 75k mark. If thats the case, i might as well wait a few years. Makes you wonder where the 348 price will be then.
     
  6. Ferrariguy2

    Ferrariguy2 F1 Rookie

    Apr 5, 2004
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    Lets just say I can't wait to get to Florida!
    red/black GTS or Spider is calling my name!
     
  7. MS250

    MS250 Two Time F1 World Champ
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    F......ocker. quiet.
     
  8. 355

    355 F1 Rookie
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    Be carefull when buying any US exotic. Most of them are from Florida, Cali, Georgia ect. In other words they are from the states that drive these cars year round. That brings me to this question. Why is it that 80% of the 355s for sale in the USA have such low miles? On average they have lower miles than canadian cars. I have seen some of the US cars and they look pretty ruff for a 15,000 mile car. Infact my 355 with over 30,000km looks mint compared to them. There are many things a car flipper can do down there to make a car look like it has less millage than it really has. Many can be fooled but not someone who has been around these cars for years.

    The other thing to take into account is that you will pay $85,000 for a good low millage 355 and then you must add in the exchange although not much now compared to 3 years ago but still that $85,000 becomes $90,000 and then you have to get the daytime running lights and the Canadian bumpers(which can only be had at the dealer and they nail you because they dont want you to import ferraris) So that will add another $20,000 to the cost. So now you are at $110,000 and you still have a US model that is harder to move in Canada.

    The main reason Ferraris are more expensive here in Canada is because there are less of them here. I know a guy looking for a good 355 or 348 and he cant find one without stories behind it. This past summer while I was at my mechanic I saw him working on a 355 Spider same year as my 355B. I heard that the Spider came from the USA via Ebay. I believe I saw that car on Ebay and it went for around $70,000 US. To put it bluntly that spider is a piece of crap and the owner will have to spend 30 to 40 thou canadian to get it running properly and he still has a car that is filthy inside and the engine bay area is worn and faded. It also had body work done to it that was noticable by anyone who has any kind of eye.

    If anyone is still interested in buying a US Ferrari, then do your homework and go look at the car first. This will cost you 2 return tickets because you had better take a Ferrari mechanic with you and hope that the seller will let him put it on someones hoist and spend a few hours going over it. Its not as easy as you think but it can be done. But you are still not garaunteed that there are no internal engine problems.
    Remeber that most top notch F-cars are sold to friends of friends and friends of the mechanic that serviced the car because they know the history and the guy who owned it. Good luck.
     
  9. imcarthur

    imcarthur Formula Junior

    Nov 15, 2004
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    Why don't you look south, Rick?

    As above, you MUST see the car in person & get a remote PPI but you save a lot of $s. You have to tell the wrench what you want done. Fax him a list. I had compression & leakdown done on 3 cars. On 1 I even had the wrench pull the valve covers to check for stud breakage. The forums can always give you wrench suggestions in far-off places. Skip cars that have spent their lives in hot, humid, salty climates.

    Don't buy into the Canadian cars are worth more bs. 5 - 10 years from now or whenever you sell, a buyer won't give a d*mn. Age changes that.

    Ian
     
  10. cavlino

    cavlino Formula 3
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    Just in case its not clear, you can only bring a 348 into Canada from the US if it is at least 15 years old. The 355 can not be imported into Canada until it falls under the older then 15 years old clause.

    The 355's arrived here as a 1995 model year car but their build date is as early as August 1994. This means the earliest you will be able to bring one in is August 2009!
     
  11. ffeverd

    ffeverd F1 Rookie

    Jan 24, 2005
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    I've heard people import 360s from U.S. to Canada?
     
  12. ClassicFerrari

    ClassicFerrari F1 World Champ
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    Hi Carm, you mean it can be brought in without a hassle once it's been 15 years correct? Because if you do the work such as changing the bumpers, DRL's etc. then it's ok at anytime.

    There are many U.S 355's here.

    V..
     
  13. rnelson

    rnelson F1 Rookie
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    No, the 348/355 are on the blacklist for importing from the US into Canada.

    http://www.riv.ca/english/US_vehicle_admissibility.pdf

    See page 5. They are "inadmissible" Ferrari list. Be careful you don't buy a car you can't bring back!

    360s can be brought in, but not 355s or 348s until they become 15 years of age.

    It is crap. Canadian 348/355 cars are selling for a full 50% more than the US prices, even after exchange.

    Seeing Canadian 348s on the market for $75K+ is horrible. It was understandable when the dollar was at 1.56 exchange, but now that it's at 1.12 it is really out of whack.
     
  14. Prancing 12

    Prancing 12 F1 Rookie
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    While I agree that it is "out of whack", it would be hard to expect someone who bought a 348 at $75k three years ago to now be expected to take a $20k depreciation hit to correct the market. No, I don't own a 348...
     
  15. 355

    355 F1 Rookie
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    I have been tracking the price of 355s for a while now and the very good ones and I mean the top 5% of the best 3 summers ago in the USA went in the high 90s and low 100 thou range. Now the very best 355s are going for the 100 us to 110 us range. But remember that I am talking about the very best mint 355s which is what I would be looking for. I believe that the market is correcting and the american prices have come up as well as the canadian gone down a bit. If you want a good 355 it will take time to find. If you go by the cheap price you will pay more in the end. The thing to ask yourself is why are the miles so low on almost all the F-cars in the warm weather states? And like one of the guys said earlier about the salty air states. He is 100% right as all the rubber parts break down really fast about 3 to 4 times faster than the rubber here in Ontario.
     
  16. cavlino

    cavlino Formula 3
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    This is true but you can not import the 1999 360, only the year 2000 and up.
     
  17. cavlino

    cavlino Formula 3
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    Ciao Vasco :)
    The rules were changed in Jan 2006 to exclude any Ferrari from model year 1999 or older up to and not including one 15 years or older. The rumor I heard was that Transport Canada made this change due to the number of Ferrari's imported from the US that were not properly converted to Candian specs and its in the interest of protecting the consumer.
     
  18. ClassicFerrari

    ClassicFerrari F1 World Champ
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    Ahhh, ok. Sorry. That makes more sense. Thanks for sharing.

    Rick, no 355 fo you!
     
  19. f1karting

    f1karting Karting

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    I think you need to qualify those numbers as being the later model 355 and or the F1.. A contact of mine in the US recently offered me his perfect, one owner 95 355 for 72K USD.. however unable to import.. it would have been a bargain to land in CA for $85-90K CAD vs the current asking price for canadian 355s.

    Personally, I am after a spider, and am going to wait 2-3 years before deciding on whether its a 348/355/360. I notice that the early 2000 360s are dropping about 10K per year (presently seem to be about 120-150K in the US). If RIV dont blacklist the 360 in the next 2-3 years, (like they did with the 355) watch the canadian 355 prices drop to sensible levels as the 360 become more "affordable" to canadian enthusiasts. If the 355 prices dont adjust down the sensible levels, Ill be buying a 360!

    If I were to decide to buy a car today, and accept the depreciated value we will see over the next few years, it would be wiser IMO to pay a little more and import a 2001-2003 F360 than pay the rediculous CAD 120-130K currently being asked for CAN 355s.
     
  20. Biobanker

    Biobanker Karting

    Apr 4, 2006
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    But arnt CDN F360 prices approaching $130K these days too? I recall seeing a 2000 F1 (Y/B) asking $135k. No idea about servicing or condition, but I think it had about 40k km on it.
     
  21. ClassicFerrari

    ClassicFerrari F1 World Champ
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    It's like the same old thing.... when it's too good to be true...

    A 1999 360 below $150,000.00 CDN CAN'T be that good of an example. But of course I could be proven wrong.
     
  22. Prancing 12

    Prancing 12 F1 Rookie
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    You can (and should) be proven wrong! ;)

    1999 cars ABOVE $150 aren't a good thing... the cars are out there, with good histories etc, it's just that there's the perception that lower prices mean worse cars (whaddya mean these things depreciate eventually?!) and any car trying to change the pricing spectrum is considered to "must have a story!"...
     
  23. ClassicFerrari

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    Hi N. I totally agree. But I am talking about this very point in time. The market RIGHT now. You won't find a good example of a 1999 + Modena for under $150K CDN. Now keep in mind i'm talking about a car that hasnt been wacked, full service, CDN car, good KM and history etc. Some of the best deals are made within owners so I cannot comment there. Who know's what is paid in that situation.

    I know what's going to happen here, someone here will pull out a stupid link to an auto trader ad for a cheap Modena....Bring it on ;)
    Like this one.....http://www.trader.ca/powerpage/details.aspx?vlotid=5092&adid=4265602 It's $149,990.00 I was proven wrong ;)

    Actually looks like a nice car...

    V..
     
  24. JamesSimpson

    JamesSimpson F1 Rookie

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    too much money, i have a 2003 with less km's for only a little bit more.
     
  25. ClassicFerrari

    ClassicFerrari F1 World Champ
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    That's the funny thing. You then will see 2000-2004's around the $200,000 range. Strange. I'd pay a bit more and go for one like James' or a couple of other's i've seen.

    V..
     

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