So I [almost] bought a Ferrari [Mondial 3.2 Coupe] Sight Unseen for $2000 | Page 2 | FerrariChat

So I [almost] bought a Ferrari [Mondial 3.2 Coupe] Sight Unseen for $2000

Discussion in 'Mondial' started by Dubels, Aug 19, 2014.

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  1. Ehamilton

    Ehamilton F1 Rookie
    Rossa Subscribed

    Jun 13, 2010
    2,635
    Durham, NC; USA
    Full Name:
    Eric Hamilton
    You have zero downside. Every piece of steel in the car could be reduced to iron oxide, and you'd still be able to part it out for more than 2k$, and if you can't you'll get more than 2K$ of pleasure out of telling the story for the rest of your life. I've paid more than 2K$ for a Fiat X1/9, for crissakes.

    And that's where you need to be careful. If the car is too far gone, you'll be financially better off parting it out and buying something more promising.

    As with any rescue mission, there are three questions you have to ask yourself:
    1) Will being upside down (spent more on the car than I could sell it for) bother me?
    2) What do I have the skills to do myself, and do I have the money to pay someone else to do the stuff that I can't do myself?
    3) Will I count the time I spend bringing this car back to life towards the entertainment budget, or is it a chore?
     
  2. MS250

    MS250 Two Time F1 World Champ
    Lifetime Rossa

    Dec 10, 2003
    26,575
    Full Name:
    Avvocato
    Life is to short of us mid 40 yr olds for anything less than 99.5% ;)
     
  3. sammyb

    sammyb Formula 3

    Jun 23, 2006
    1,857
    Where wife tells me
    Full Name:
    Sam
    It's a car...and a pretty robust one, at that! Replace belts, any deteriorated hoses and flush fluids and go for it. Get it running with $250 worth of parts and you make $18,000 easily. Or just drive it.
     
  4. buzzpics

    buzzpics Formula Junior

    Jul 22, 2013
    712
    Frisco Tx
    $250 will barely purchase the oil for the motor and gearbox.
     
  5. Dubels

    Dubels Rookie

    Aug 15, 2014
    29
    NorCal
    #30 Dubels, Aug 20, 2014
    Last edited: Aug 20, 2014
    Or maybe my family and the seller have busy lives and me getting pictures of the Ferrari should not be their top priority. But it's fine, I actually don't mind that people don't believe me. Just humor me and play along and help me with my fictional 308. There was a post that needed to be approved by a mod that disappeared once I got my profile going, but the post gave a little of the back story.

    Quick summary: Seller originally offered the car at $5k. I didn't really think they were serious. They recently sold a Porsche 948 they had for $2k just to get rid of it. While in a car going some where the seller asked if I wanted the 308 for $2k. I jumped. Seller just bought a new expensive luxury car that they would prefer not sit outside while the Ferrari took up space. Also they much rather see the car in the hands of someone that wanted to put it back on the road.

    I jumped the gun and made this thread. But then again I have been doing a ton of reading since last Thursday and pricing out parts. Kind of going nuts with excitement.

    Also if this ends up taking more money than I budgeted it is ok because I am in no rush and will slowly save up if necessary. At $2k I could have a gem or a dud and scrap parts worth more than my purchase price. Didn't buy this as an investment, rather and impulsive response to a chance to own a $2k Ferrari. Seemed like a better project than the 914 that has sat outside since 1990. Plus, already had an offer for the 914 that was for more than what I paid for the 308.

    Thanks for all the informative post and PMs. This is one helpful community. Looking like I have a good lead on rims already and a cat solution. Also looking to add changing pulleys and bearings to my list.
     
  6. Fave

    Fave F1 Rookie

    Aug 12, 2010
    4,157
    Tarana
    Full Name:
    L. Ike Hunt
    Not at Wal-Mart it won't
     
  7. Fave

    Fave F1 Rookie

    Aug 12, 2010
    4,157
    Tarana
    Full Name:
    L. Ike Hunt
    Do yourself a favour, before you buy anything take it to a real Ferrari mechanic and get a PPI done. For a few hundred you will get a full list of what is needed and what work is needed. This way you have a more or less educated starting point. This can become a bottomless pit quickly. Or you may have that gem dreams are made of, unlikely, but who knows.
     
  8. EMILIO

    EMILIO F1 Veteran

    Feb 23, 2006
    6,854
    Italia
    only words that i can think of:
    GREAT BUY!
    congrats!!! :)

    as bad as it could be you got a 308 for 2k and not a burned one

    let me put it this way: i would buy it for 3k$ for it sight unseen
    so you already made 1k$

    ;)
     
  9. Todd308TR

    Todd308TR F1 World Champ

    Nov 25, 2010
    11,074
    LA
    Full Name:
    Todd
    We are just curious, we want to see the basket case is all, and it isn't hard to snap a pic and post it.
     
  10. MikeRSR

    MikeRSR Formula Junior

    Jun 22, 2009
    476
    Surrey, England
    Now I'm getting really worried...what's a Porsche 948?
     
  11. furoni

    furoni F1 World Champ

    Jun 6, 2011
    13,986
    Vila Verde
    Full Name:
    Pedro Braga Soares
    Grat buy, i guess we all dram of something like that (at least the ones of us who can't afford a 100% pristine Ferrari) Hope you get luchy and eagger tto mee the car!!...Hell, if it doesn't work you can still use it as a garage queen!! Some guys spend millions on much uglyer cars and never drive them!!! At list the 308 it´s one of the most beautfull cars ever designed!!!
     
  12. ryanbushell

    ryanbushell Formula Junior

    Mar 25, 2012
    713
    England
    Full Name:
    Ryan Bushell
    Even if I was 1000 miles away, for $2k, I'd be straight there. Great buy, hope it turns out well.
     
  13. st@ven

    st@ven F1 Rookie

    Aug 4, 2008
    3,313
    Germany
    Full Name:
    Steven
    I do not believe a word of this story from the start of the thread on.

    Show me pictures And mayby i will change my mind. Up to that: i call BS
     
  14. Zack

    Zack Formula 3

    Dec 18, 2003
    2,001
    Nicosia, Cyprus/Cali
    Full Name:
    Zacharias
    I really don't understand the kind of upbringing that leads people to be like this. :rolleyes:
     
  15. mike996

    mike996 F1 Veteran

    Jun 14, 2008
    6,871
    Full Name:
    Mike 996
    I wouldn't go so far as to call the story BS.

    But "questionable…" now there's a good word. ;)
     
  16. Nuvolari

    Nuvolari F1 Veteran
    Owner Silver Subscribed

    Sep 3, 2002
    6,638
    Toronto / SoCal
    Full Name:
    Rob C.
    People with fake stories normally do not ask such pointed and informed questions so I'll give the OP the benefit of the doubt here. $2K of course seems too good to be true but then again there are people out there who value their things differently and really just don't care that much about getting fully researched top dollar every time they purge their garage. Let's give it a week to see if photos materialize but for now I'll say good score and good luck.

    Regarding getting the car on the road, if it is your intention to hold on to the car for a while, PULL THE ENGINE! You will need to replace every piece of rubber in the engine compartment and on the motor or you are risking a big leak or worse a big fire. Having the drivetrain on a table lets you do a ton of jobs miles faster and with less cursing than in the car especially if you do not have a hoist. Not only that you will have full access to the engine bay to change fuel and coolant hoses. Realistically belts, tensioners, hoses, some gaskets and seals, and fluids should be obtainable for around $1K. Yes you can spend more but if your goal is a driver and not a concours special that budget is healthy for the engine compartment.

    Also while the engine is out be sure to check the alternator and starter both of which are terrible to do when the engine is in. Other considerations are to check the condition of the radiator, see if the shocks are seized, and visually inspect the shock and suspension arm bushings. You may find that the suspension is not too bad. From what was described I'd feel quite confident of being able to have the car on the road for some $5K in parts and lots of personal labor (which is always free).
     
  17. singletrack

    singletrack F1 Veteran

    Mar 16, 2011
    5,805
    Pittsburgh, PA
    Awesome! For 2k, even if it is a POS as others have said, you will easily be able to part it out for more.

    If it can be made a good runner, then just go in knowing how much time and parts that can take.

    Good luck and have fun above all else!
     
  18. AHudson

    AHudson F1 Rookie
    Silver Subscribed

    Jul 7, 2005
    2,781
    Florida
    Full Name:
    Adams Hudson
    When I recently purchased an 11,200 mile 1987 328, stored inside its whole life, 2 owner car (previous to me had owned since 1990) it atrophied in most places. I assure you, a 'cheap' belt service will not serve you well.

    You are sitting comfortably enough financially in that car to do a good thorough service IF you intend to keep the car. Otherwise, you'll be chasing ghosts until they finally catch you.

    The best way to diffuse the disbelievers is with pics and proof of this beast. Til then, best wishes, should be fun.
     
  19. Rich S

    Rich S Formula Junior

    Nov 30, 2013
    501
    Monterey, California
    Full Name:
    Rich Saylor
    Assuming this is more than fantasy, were I to receive such a car, I'd consider doing a leakdown test to see if the valves has some sort of problem, knowing the history of the non-QV (assuming that's what it is, as you haven't told anyone what year it is!) engine and the possibility of a broken valve. That test could only tell so much but it would be a start. Then a thorough "PPI" to assess what can be found, at least. I'd assume it would take a full major service, plus whatever else might have been neglected or damaged. You can save on some things- coachwork, interior work, and so on but some stuff ought to be left to professionals experienced in that particular car.

    So, keep it in your garage just to sit in/stare at, or put it back on the road? Might depend on your finances, or else desire to see the project through, whatever the cost...? Whatever you decide it couldn't hurt to make a very complete assessment of whatever you have, before doing anything, so you don't just jump in blindly.

    Sure be nice to see some pics!

    Cheers,
    Rich
     
  20. Rich S

    Rich S Formula Junior

    Nov 30, 2013
    501
    Monterey, California
    Full Name:
    Rich Saylor
    Assuming this is more than fantasy, were I to receive such a car, I'd consider doing a leakdown test to see if the valves has some sort of problem, knowing the history of the non-QV (assuming that's what it is, as you haven't told anyone what year it is!) engine and the possibility of a broken valve. That test could only tell so much but it would be a start. Then a thorough "PPI" to assess what can be found, at least. I'd assume it would take a full major service, plus whatever else might have been neglected or damaged. You can save on some things- coachwork, interior work, and so on but some stuff ought to be left to professionals experienced in that particular car.

    So, keep it in your garage just to sit in/stare at, or put it back on the road? Might depend on your finances, or else desire to see the project through, whatever the cost...? Whatever you decide it couldn't hurt to make a very complete assessment of whatever you have, before doing anything, so you don't just jump in blindly.

    Sure be nice to see some pics!

    Cheers,
    Rich
     
  21. Bullfighter

    Bullfighter Two Time F1 World Champ
    Lifetime Rossa Owner

    Jan 26, 2005
    22,596
    Gates Mills, Ohio
    Full Name:
    Jon
    I would question the "Porsche 948" part of the story.

    The rest... whatever, entertaining thread regardless. It's hard to conclude anything without seeing photos, but it's interesting even hypothetically because if you're given a 308 at essentially no entry cost, and then need to restore everything mechanically, I think it would be hard to be in the black financially. I.e., once you disassemble the car to replace engine mounts, seized shocks, etc., there's a pretty long and expensive "while you're there" list. And I'm not writing this with a platinum/concours car in mind -- just getting all systems into proper, safe driving order.
     
  22. phrogs

    phrogs F1 Veteran
    Silver Subscribed

    Apr 13, 2004
    7,346
    Kzoo Michigan
    Don't even bother parting it just sell it outside of kalifornia.
     
  23. 308gtsqv

    308gtsqv Formula Junior

    Feb 12, 2008
    610
    Mass/Cape Cod
    Full Name:
    Mike
    #48 308gtsqv, Aug 20, 2014
    Last edited by a moderator: Sep 7, 2017
  24. Dubels

    Dubels Rookie

    Aug 15, 2014
    29
    NorCal
    #49 Dubels, Aug 20, 2014
    Last edited: Aug 20, 2014
    I understand the doubt. Hopefully I will have pictures and more info before the end of the week. I really did jump the gun on this post. Just got too excited. It is looking like I might do this right and pull the engine. It sure is going to make the timing belt change a lot easier especially without a lift. I want a mechanically sound car first and foremost. The rest if not rust can be dealt with later. Still looking like a long term project since the car is going in a garage 90 miles away from me until I can get it registered.

    The Porsche 928 was sitting outside for a long time before the sellers purchased the new S class. Them trying to fit five cars into a two car garage just wasn't an option and the owner had no intentions of getting that thing running again. My dad thought that was a better deal than the 308. Still trying to get my dad to drive up and take some pictures of the car so I can document its entire journey. I have never seen the 928 or the 308. The sellers are friends of the family and clients of mine. Keep in mind I advised them many times that the 308 was worth well more than the $5,000 the originally offered to me for. It was the main reason why I thought the original offer made over a year ago was a jest.

    I am really reluctant to part the car out because this might be my one chance at owning a Ferrari. I never dreamed I would get to drive one yet own one. So far it seems like the $2,000 is money well spent. If I cannot get this car smogged for a reasonable cost in CA, I will get it up and running and probably sell out of state to see if I can get enough money to buy one already registered and smogged in CA.

    EDIT: I just realized that I have been messing up the Porsche model number. Its a 928, not a 948. Not this biggest Porsche fan but as my dad's great descriptions go: "Its kind of looks like the 944 my friend has but with a V8." <-- now you know why its hard to get my disinterested dad to take pictures of the car and why for some random reason I thought it was a 948. 944 + V8 = 948 seemed to make sense to me when I was writing the post.
     
  25. GrayTA

    GrayTA F1 World Champ
    Owner Rossa Subscribed

    Jun 25, 2006
    15,130
    Deep South
    Full Name:
    PDG
    I am also anxious to see pics and am curious about the chassis number as well.



    PDG
     

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