What to look for when buying 355

The 355 is probably not for you then. You should plan on a 10-15K repair bill and if it does not happen then you will be ahead.

 

If you can find a car with a recent 30k service, header replaced, cats chanced, and a new clutch. Then most of the service cost was done by somone else. You should also get a PPI just in case. I don't know if you will find one for 55 to 60 with all those issues addressed but it might be poss.

 

6-speed only. 355 was the first model where the F-1 transmission was used. If you have your heart set on a 355 buy a 6-speed only.

 

You may want to look at a 348 rather than the 355. The 348 market has dropped and you should be able to find a decend car for the mid 40's and save the 10-15K over the 355 for the 15K-30K services (which can run you about 5-7K on either model) and the other repairs that just pop up.

Somethings like a bad top motor or worse a bad header can cause your car to be side-lined if you drop all your cash on the car. Some years of the 355's have a better service record but unless you will be providing your own labor for the services they can be expensive if you want to follow all the recommened services even with the best of Ferrari updates.

Don't be Ferrari poor and skip services because you spent all your hard earned money on the car and now have stories to tell if you try to sell the car because of an up coming repair that you can't afford. That's a great way to lose a bunch of money on a car.

 

As a current 355 owner some of the best advice I received was "you can afford the car if you can buy two."

That said, they are wonderful cars.

Cheers and good luck in your search.

David

 

What if your dumb enough to have two 355's?

 

The 99's are the best as most everything has been sorted out or repaired. I think you will be hard pressed to find one at that dollar, the market dropped but not that far yet. The key word is yet, you may to want for just a bit longer to see the bottom and hopefully pick up a 99 with fresh services for that amount.

Mileage is a double edge sword, low miles (gargage queen)they will or can still have issues from sitting. Higher miles you have parts that could be ready to be replaced. The biggest thing to get done is a PPI and get the best (clean well doc'd history) and worry less about the year. Most of the early cars with bad valve guides have had them replaced, if they haven't had that done skip that one. If it hasn't had headers in 15-20K plan on new ones on your dime. I wish I could give you a hard and fast answer as to the year but service rules most in this deal. I would first start looking for the dollar and see what you find but don't be disappointed if you don't find what you like yet at that dollar yet. There that word again "yet" it's getting really close to a full buyers market.

 

That would lead you to buy a 348 like me then!!! F355 may bite you, for your first Ferrari, recommend 328 or 348. Just my 2 cents, see what others say here and PM me if you want, I just bought my first about 6 months ago.

MB

 

My first Ferrari was a 97 F355 Spider. From the purchase I have learned to make sure the engine out service was done recently or assume $10K+ will be spent almost right away (take this into account in your offer). Also, use an OBDII reader to read the diagnostics and make sure all the tests have been run and no codes are showing. This is on top of having a PPI at a reputable Ferrari shop. I had the PPI done on mine, but there were codes that I am still fighting that were not revealed in the PPI. Then put away $8,000 into an account the day you buy the car. After that, add about $400-$500 a month to the account and you should have enough to cover your required services as they become necessary...unless you destroy your spider top or your motor. IMHO. This is just from my experience. I love the car though and it is definitely worth the investment if you have the $$$. I drive it every day that it doesn't rain.
Image Unavailable, Please Login

 

+1, my first was a '99 355F1 and loving every minute of it! Two years and counting now...no expensive surprises, just one engine out major I did myself (with some help on timing). Headers are $3k aftermarket, not a huge deal.

 

2 things to look for when you buy a 355:

A good parts source and a good mechanic; you'll need plenty of help from both.

A good parts source is Ricambi. Daniel is a member of F-chat and probably makes his living off of 355s!

As for a mechanic, it will depend on your location.

Good luck!

 

I agree the dollars for the headers alone are not a big deal but if left unchecked it's a huge deal, which could be an issue with a lower priced later year 355. You know "I got a good deal because it needs new headers and the person decided not to fix them, never drove it and put it up for sale" story. I don't want to burst anyone's blubble but a 55K later model 355 will have some issues maybe not much more than a sticky dash or an upcoming major and maybe be priced that way but that doillar is still pretty low for a no stories 355. If someone is shooting for that number all in and they back out taxes (based on living in a state that has taxes), possible transportation and a few PPI's untill you get the proper one you are in the upper 40's unless that number is not an all in number which could be the case.

Glad you were able to do the major yourself. I haven't taking on that task myself, my hats off to you! I have approached some services but not the Holy Grail!

 

I don't think you get it, the jetman does have 2...

 

My first Ferrari was my 1999 F1 355 and no regrets. I spent lots of time finding it and that time was well spent. The car is fully documented from the delivery date to my ownership.

And yes...Ferrari is expensive but that is no surprise!

 

Here is a link that might help you on your search. It is very informative. And good luck! http://www.focfloridaregion.com/guides/guides.htm

 

I just experience an Fcar buying and I just got my first yellow 97'355GTB 6-speed with 35K-kilometer on it. Beside checking the service record I would recommend to test drive more than once and do it around a few more cars at the high temperature if you have choices. That means once test drive make sure the temperature go up high enough to hear and see something after the initial 15-20 minutes. My 355 has got a good clutch and gear box at test drive but it does have some cranking sound in the engine bay when the temperature goes up to normal and when traffic jam which I am a bit upset initially after brought her back home. The break at high speed has some little issue but guess it is the tire pressure as the car is very sensitive to this.

 

If you are neurotic and don't want issues, the 355 is going to drive you nuts. If you are willing to work toward the goal, the 355 is fantastic. If you have heard the Italian mistress analogy, there is no car that fits it better: it is a lot of work, temperamental, seldom perfect, but when she is on there is nothing else like it.

I respectfully disagree with the idea that '99s are better or that you should avoid the F1. The typical problems (valve guides, headers, cats, shock adjusters, interior bits) can be problems on every car. A '95 that has had valve guides done right is a better bet than any '99. Higher mileage cars tend to have had the bugs worked out AND will be cheaper. The 355 F1 system has been very reliable. There are horror stories of F1 pump failures, but these are very rare and there are less expensive fixes.

The 355 major is costly, but the clutch is relatively easy to get at and much cheaper than say a 360.

This is my second 355. I sold the first because I could not stand the potential repair bills; I didn't actually have any problems, I just worried. I came back after deciding that it was all worth it. I have not been disappointed!

 

PPI = private party inspection. It has to be someone good, someone you trust, someone with 355 experience. Even then, they may not catch things.

On 355s, the compression and leakdown test is the most important test, to look for valve seating issues. There are tons of threads about this, so do some searching, but be prepared to spend some time. Unfortunately it is a real problem that has bitten people hard.

Second most important is records concerning the last major. Make sure it was a competent shop, and make sure it was actually done! enjoy reading about the recomended interval

There is so much debate on failed headers - why they go and what to do - that it is hard to mire through it. The cheapest route is the QV repair, at $2500 or so. Cats can also be a problem. The factory ones are crap and very expensive. I know of issues with hyperflows on 355s, though others have used them without problem. So, some of us run test pipes...

All the interior plastic bits car be refinished. The leather starts to go on the instrument cowl first, and in the back corners around the butresses. Once it starts to peel on the dash, there is no turning back the damage. You either live with it or get the piece redone. If the interior is in good shape, then regular conditioning and some common sense will keep it looking good for a long time.

Clutch on the 355 is not that expensive (about $1200 complete, $800 ish for the part). If you know what you are looking at, there is a cover under the housing that you can remove and physically see how much friction material is left. Still, a blown clutch is not going to bite you bad here like it could on some other cars.

There are other issues that can come up, like broken adjusters on the electronic shocks, Spider top and seat issues, buttress cracks... these are high strung cars, but they are soooo fun! and this is a GREAT time to be looking to buy. Best of luck, -J.

 

what is the disk spec for replacement? Thanks, Mr.F40

 

not sure if anyone has referred to a previous thread on this topic, but here is a good thread to review.

http://ferrarichat.com/forum/showthread.php?t=91241

good luck, be thorough and very very patient!

with all the eyes and ears on this site great resources for help

 

well said

+1