Hi there: I'm currently looking at buying a 1983 Mondial 8, but the price of $36,000 seems to be at the higher spectrum of what i think their worth 2nd hand. The one i inspected is mechanically A+, however, there are a few things that need to be sorted out. Is $36,000 AU dollars to much. How much would the M8 be worth in 10 years time?
Too many variables and not enough info... RHD cars are at a premium for the AU market An '83 Mondial 8? Do you have the VIN? Again... not enough info. If you provide the specifics, and I mean a lot of it, then maybe someone might be able to give a fair estimate. Otherwise, it's just one big WAG!
Ok, here is a list of things i found about the car > 1. Noticable engine oil leak (saturated sump) 2. X1 Rear muffler blocked, lots of exhaust gas flow in one, but not the other. 3. Tacho needle randomly bounces up and down on revs. 4. No service history 5. Air con not working 6. Lots of red LED lights in centre console 7. Electric engine cover lid switch not working 8. 1 green turn knob on centre console missing. 9. Had water, instead of coolant in radiator Apart from that, the engine revs great, gearbox,brakes all good. I loved the car at 1st inspection, but after the second, im kinda put off. I initially offered $35,000, that was when i was highly motivated in the car, but now, the lowest the person would accept is $36,000. Yes, i beleive it is very high for such model car. The car looks awesome. Was thinking of getting a loan to buy a F355, but for high $20k to low $30k , i could own a Ferrari, regardless how people dont like mondials, or how they are slagged off etc. I highly appeciate your input.
You list a lot of problems. One of the biggies can be electrical and this car may be an electrical mess. It shows lack of care that there are so many problems. The exhaust is normal. They all do that. Everything else will cost money. Like said above, I suggest you post in the section for your country. Pricing down there is very different. I think here in the states the car in the condition you describe might not sell for $18,000.00. As is said often, the most expensive Ferrari is the cheapest one. The one you are looking at may be the most expensive cheap Ferrari. Sounds like top dollar for what should be a cheap car. The engines are tough so just because it runs great doesn't mean that a poorly maintained car won't cost you multiples of $10k in deferred maintenance. But again in AU this may not be too expensive, I really don't have the answer to that.
Having used water.. it says something of the owner. What does he use for engine oil? There are at least 3 other ones around this price: New & Used Ferrari Mondial cars - Find Ferrari Mondial cars for sale - carsales.com.au Not sure for a loan for a Ferrari.. you will definately need to get a second loan for its maintenance.
Move on. Find a better or more favorably priced 8. They are nice cars, but for that price, everything should be working. Not talking about a perfect car, though.
Sounds like a $10K - $12K US dollar car and you will end up spending another $10K to bring it up to spec.
I don't know the availability of Mondials in AU, but I would consider a 3.2. First of all, they are WAY faster. Second, the 8s, I believe are two valve which, though seldom a problem for a lightly driven car, can drop their sodium filled exhaust valves. I believe this is especially dangerous in a car that has not been driven at high rpms and has carbon build up THEN get driven to 8,000 rpm. Also, the water pumps, at least from 1986, have a more robust bearing. Thats a relatively small matter since the water pump can be changed out by the owner or a good wrench without an engine out. I believe the 'Ts' need engine out for that. I have been driving my 1986 prugna coupe since May 2013 and now have added 8,000 miles to the original 44,000 miles as my daily driver. Last year I scattered the clutch from my own negligence [local wrench did the labor for $2,000 with the help of birdmans DIY], added a local parts store starter and the car just gets better. Never towed off the road. Starts clean first time every time. The oil cooler has a small leak which I will need to fix, but a quart of oil every few hundred miles I can wait it out till my mechanic gets done with my other car. You take your chances with any old car. And then you need to decide if you are a "save it up" or a "use it up" guy like me. If you are a save it up you are probably fine with just about any car that drives around the parking lot without droping parts and fluids all over the place shifting at 2,500rpm. Me? I tortured the brakes to get them back to where the should be. Fumes filled the cockpit. That could have cost a bundle but did not. Then I changed coolant to 60/40 mix and competely depresurized the system. With two or three dozen hoze clamps I wanted to take all the stress off them and the water pump seal. I live at 2,200 elevation, see 90F and still do hot runs and never added one ounce. I also add at least 6oz of two cycle oil per tank of gas to theotretically protect against alcohol and fuel injector metal to metal contact and other moving parts. Last week added a full 16oz just for the hell of it and noticed a nice improvement in the idle burble. But I am something of an iconoclast and do not recommend any of these things. But my Prugna coupe seems to defy all 0-110 mph times by a lot. Yesterday I ran it in 4th gear from 4,000 rpm to 7,000 rmp [58mph - 102 mph] in less then nine seconds. Theoretically it is supposed to take 5 seconds from 100 to 110 but I need better experimental controls before I actually declare Prugna cars are faster
I wouldn't buy it my friend. Noticable engine oil leak (saturated sump) - Ouch! Think of replacing all pipes, pump, and housing ($2,000?) 2. X1 Rear muffler blocked, lots of exhaust gas flow in one, but not the other. (New Exhaust $1,500-$2,000) 3. Tacho needle randomly bounces up and down on revs. ($300 Palo Alto Seedometer) 4. No service history 5. Air con not working (New System - $2,000) 6 and 7 is what worries me most - If I had to venture, I would say the wires probably have a lot of corrosion, fraying, decomposition - this could easily be $10K right here if you need to rewire the whole shebang. 6. Lots of red LED lights in centre console 7. Electric engine cover lid switch not working 8. 1 green turn knob on centre console missing. $(200) 9. Had water, instead of coolant in radiator (hmmmm....like others said - if owner can't even pay $20.00 for coolant, what other stuff did he 'skimp' on?) So being conservative, I think it will cost around 15-20K to bring back in good shape. I know many here will say this is "Way too high!" - I can fix those things for 1/4 the cost. I rather err on the side of caution and give you a high number and you are pleasantly surprised then vice versa. I think for 30K - you can easily find something in better shape! Ooops-- noticed this is in Australia - so based on AUS - US$ exchnage rate - I say $12-15K AUS$ to bring back to full glory!
All Mondials/Ferraris in Oz are massively overpriced (as are all Euro sports cars); and this one also seems to be too expensive for what it is, even considering the Oz premium. Not a Ferrari, but have you considered a 911 3.2 Targa or SC Coupe? Top ones go for around 50k AU$, but you can find ok ones for 40-45k....might be the better option for this budget...
Seeing just water is a bad sign. Is it chronically overheating? Head gasket on its way out? Lots of possibilities...none of them good. At best he cant spend money for antifreeze.
Believe It Or Not I read Ferrari offered a 2.0 liter version of its 3x8 in OZ for tax purposes. Why anyone buying a Ferrari would worry about the taxes is another question. However, if you really wanted something rare, and something the previous owner would be hard pressed to break that might be something to find.
