Have we destroyed the 355?

+1 once a troll always a troll, you can almost set your watch by it.

 

Ha ha! Yes, I understood the bait was hanging there too, but sometimes you have to grab the bait, the line, and the rod to yank troll completely off his seat.

I should add my support to your original post. Any one of us who is a current owner may eventually be a seller like Monte. If we don't step up to defend the strong points of the car, we cannot expect the market to change on its own.

Here's my endorsement:

I've put 15,000 miles on my car in slightly over 3 years. Zero component failures, 1 or 2 cat efficiency CELs per year, reliability and driveability of a Honda. Great local community of fellow owners willing to help each other out. You, FBB, Ernie, etc -- I could not ask for better friends to have close by to ask questions to. At the risk of jinxing myself, I can honest say this has been the most enjoyable sport car ownership period of my life.

 

It was unveiled at the 1994 Geneva motor show which takes place in March, so where are you getting that info? You're saying they started production of the car 5 months before it was even unveiled? I don't think any were shipped until May, so by that time they would have been producing them for 7 months, which makes no sense.

 

Hey Monte, congrats on your new purchase....

I think there are two types of Ferrari buyers.... Ones that listen to others and just want a "Ferrari", and then there are car guys that make up their own mind. You are probably getting a segment of people that want to get into a Ferrari cheap and are afraid that they will get burned because of what they read. Fair enough.... I think the market is soft and people should try and make deals. But, I wouldn't sell unless you get what you think is fair.... You're a reasonable guy. You know what's right. You might have to wait awhile for a true enthusiast that understands what the car is.....

As a side note.... I contacted Ferrari years ago and was told there were less than 260 made worldwide that were Red / Black F1 Spiders. FYI....

 

It's funny i also saw that add,The best part was that the car only had like 7 thousand miles.I guess they had to replace the guides/headers/clutch and god knows what?? with a car with only 7k. Sure

 

I did a lot of research, most on this site, last year when considering a 355. And yes, I was somewhat scared-off by what I was reading ("like driving a time-bomb not knowing when it will go off"). Obviously the nature of the internet is that more people will post issues to try and find solutions, than those that will post good experience only. Having said that, the issues are real. The question is, what are the number of occurances of the issues? I'm sure there are a lot of owners that don't even know about this site (I've talked to a few).

So yes, the reputation of the cars has been somewhat poisoned by the info on this site. Too late to do anything about that.

Will the value of these cars go back up someday? Not a chance.

I still might buy one someday, but would try and find one that has had the "issues", real or not, addressed.

Rick

 

I had a 99 F355 for a couple of years and the experience was great but it was a properly sorted car when I bought it. I think you will see values increase for special models like the 95 GTS but overall they are stable and will probably stay that way. I would consider buying another GTS in the future but I would prefer to pay more for a top quality car. My personal ideal scenario is a 95 GTS Barchetta Red and totally sorted. That feels like a unicorn to me.

 

I love my 355, you want headaches and misfortune, try owning a land rover. People who complain about owning one of these cars probably shouldn't own one. They're actually a fairly simple vehicle.

 

Ahhh, you did a better job of making my point than I did. I think many folks who get shell shocked over the costs of parts/service on the 355, may not have much experience with other European cars. I have spent more money on servicing my girlfriend's 2001 Porsche than on any of my Italians. That said, all cars are unique, so any 355, or BMW 750, or Jaguar, or Porsche 996 Turbo, or Land Rover or Rolls Royce can be dead reliable or a money pit. This fact seems to be lost on many 355 owners and the car's sale-ability suffers as a result of post here claiming 5 figure service costs..that's certainly not routine....I mean really? You could throw it in a dumpster and buy an entire spare car....

 

I get depressed writing this. Here is my story (channel Navin Johnson in the Jerk, lol):

Bought 308 in 2003 for $34, sold for 30 in 2007, had all the issues everyone talked about, burning oil etc.

2007--bought '97 355 S with all kinds of upgrades, Tubi, Grupppe M, HRE wheels..from FOA, paid $93 as I recall.

Again, all the stories held true, except the headers had already been done: Top went bad, stickies, handbrake failed, AC failed, leather reconditioned, $1000 a year anuals, paid $6500 or so for a service in 2012, sold to FOA in trade for a 430S this year and got about $47 in a market that seemed murderous, because of all the foregoing...

But God is owning these cars otherwise a blast!

Forza baby.

Jeff

 

My 95 was built in 1994.... 26k miles and going STRONG!!
While there are plenty of faster, more modern and reliable cars, I'm sorry.....
I can't think of a single car that could replace my spider....

 

Pete- Of course it was built way before they unveiled it. How do you think they get the owners manuals, parts catalogs, workshop manuals, sales brochures, acceleration numbers, tire pressure settings and other data for the cars? Build it one day and put it on display the next? Early production cars like that are kept by the factory for a couple of years for testing and updates, are then updated to current production standard, and sold to the public through an Italian dealership.

The 575M, with which I am much more familiar, had two preproduction cars built in March 2001, one F1 and one 3 pedal, way before the introduction in 2002. These were kept at the factory for two years, updated and sold in April 2003. That is the normal way Ferrari starts a production model program.


The F355 information comes from Matthias Urban's books and website, where 98345 is listed as the first official F355, not counting mules used for development.

 

Sure some were built before the intro, but they usually are not production vehicles. The car shown at the actual intro is usually not even final production spec, let alone a production vehicle. I would have expected production to have started but no finished production spec vehicles 7 months before delivery started.

 

They always have mule cars pre production. I have a 2015 FR-S right now

 

Pete- You learn something new every day, eh? Even for Ferrari it is a long stretch of time after the early production cars before the public sees them.

An Italian friend of mine owns 123765, the second 575M built in early 2001, nearly a year before introduction. That is why we know so much about the early 575Ms, because he had the original sales and warranty documents when she was sold in 2003 after being updated.

No doubt someone is driving 98345, too, and likely nobody knows (or cares) it was the first production F355, and built 20 years ago. My Italian friend did not know about 123765 until I told him it was the second production model.

Hard to admit you are wrong, though, is it not? There were several F355s built in late 2003.

 

What would you expect to spend on a 355? Honestly their have been several for sale for long periods of time for around $50K and they are moving slowly. Beautiful GTS models have been sold for $50K.

My point is, that if this is the sale price, then why the complaint? It is what it is.

Thank Ferrari NA for the outrageous price of parts. Have you noticed that if you source parts from europe they are much cheaper?

If you just wanted a sports car, do you think the dealer is helping when they tell you that you need to do an engine out service every 3 years for 5K?

If the headers do go bad....why are they 5K? Any other header is a couple of hundred dollars.

What other engines need so many valve guides replaced? It is had to find. This pushes down the price.

How many other cars need a Gold Connector kit to sort out the check engine lights?

I truly do love the 355, but if you put yourself in the shoes of the person deciding to buy one, I dont think its difficult to understand why the price is where it is today. It is also true with my 512tr because Ferrari installed an underperforming differential in the transmission. The problem is that we own these cars because we love them......the potential buyer is not you or I. In addition, why would you buy something for 60K if the very next day the dealer would only give you 45K?

Also put yourself in the shoes of one person here that did a full PPI on their car, only to find out it needed a 20K plus rebuild within a few hundred miles of purchase.

And not to mention, what is the price of a brand new C7?

 

Tim, Ferrari states belt service in 3 years, most dealers will tell you 4-5. I've not heard any stick to Ferrari's recommendation.

Headers are not $5k today, a little over 1/2.

 

The sky is not falling. All of the posts and info provide a clear picture as to the model's issues and benefits - You can guess the posts that are over-reactionary and figure out costs for the issues in others. You can budget for all the scenarios. Find the right car with a good history and you can eliminate many worries.

I appreciate all the knowledge here. Well maintained and regularly driven cars are reliable and doing just fine - without $20k service bills. The 355's are still not through their typical depreciation curve either. Almost there. Every Ferrari built after 1989 Minus the F40/50/enzo is holding steady or dropping according to the latest FML. So the 355 is not alone.

There are buyers out there for 355's and for every other car made except for maybe the Yugo... Maybe those are even sought after. You may not find tons of buyers for that $99,000 Fiorano,,,

I saw a mint Countach today. Absolutely Beautiful, but I wouldn't trade my 355 for it. Not what I'm after.

I think the smart buyers are finding well kept cars and planning a long term love affair. If you are after a long term ownership, I think there is less to worry about.

If you want a different car experience every 2-3 years, then I think the 355 may not be for you. It is for many silent but smiling members on this site.

I was a bit hesitant about the model initially (just like everyone) simply because of the maint / parts costs or worries on failures, but I think the smart buyer can manuever through the problem cars for their long timer.

Robb

 

Interesting comment from Rifledriver. But then this is generally the case with all cars, let alone Ferraris. Certainly our 348s got their share of flak. However, one of the great consequences of these reports is not so much the hammering of values or the model, but a realistic demystifying of the car. That and a wealth of helps and recommendations from the more constructive supporters of the marque and the model line. I honestly think that FChat and the Brotherhood here are the sole cause of any interest in the 348 model line after the underserved panning by LdM. These cars are now well known in their attributes and weakness and, more importantly, their subsequent aftermarket improvement. Such is the case with the 355.

I would never not recommend the 355 to any interested shopper, nor attempt to scare them off with annectodal heresay about the model's historical failings. At some point every 348 and 355 on the road will be collectable and, while not issue free, certainly cured of past design and parts defects. Lastly, my greatest support of the 355 would be that I would easily have owned one were it not for the 348 SS that seduced me on eBay.

Now if you want to really sling the mud, let's talk 360...

 

The only thing I like about the 360 is the glass engine cover

 

Kick ass post Robb!

 

one word.......YUCK!

 

20 years from now with luck we will look back saying how rock solid a car the 355 is

 

One of the unique design features of a 355.

Pininfarina got it right with some unique styling clues such as the engine cover. This is why is why the car will stay relevant in the future. I don't think the same will be said of 360s or even the newer V8s.
Image Unavailable, Please Login

 

I would like to thank all the FChatters for driving down the prices of F355s so I could afford one. Now let's talk them up so if I sell my recent acquisition in a couple of years I can make a profit.

On a serious note, I have watched NADA values over the last 3 years. Maybe not the best source for actual market values, but they do seem to get the trends right. Based on that, 95 F355s bottomed last spring and are edging their way up. Recent listing on Cars.com also seem to reflect that.

Lastly, I didn't buy either of my Ferraris as investments, nor was I concerned about cost of ownership. I live in a comfortable but modest home and I pay over $6k a year in town taxes. It doesn't cost me close to that maintain my F cars and the other cars in the stable on an annual basis. And add to that the $6k for a new roof, $6k for replacement windows that I installed myself, $25k to remodel the kitchen and baths.....$2k for heating oil, before I hit 65 over $6k a year for medical insurance. No, cost of ownership isn't an issue if looked at it in perspective.

Oh, one more thing. There may be many potential or first time owners who, for what ever reason, can not afford the cost of maintenance. Perhaps we should partition the government to pass an F355 Affordable Repair Act. Free preventive care (annual service), $500 copay on majors and other corrective service, with a max out of pocket of $3000. If we can just get FNA to participate. Check www.F355Repair.gov for rates in your area. Dam, it appears the website is no working.