Insanely cheap 355 Spider

Reposted from the TX section. I have zero knowledge of this car or its owner, and from the various cars it's pictured with I'd guess he is a dealer/flipper. But still worth mentioning here, with the caveat that the most expensive Ferrari you can buy is a cheap one: Ferrari 355 spider burgundy interior black wrap serviced clean title

Ferrari 355 spider burgundy interior black wrap serviced clean title - $35000 (Southlake)

Ferrari 355 spider AS IS PRICE IS 100% FIRM not a penny less so if not Interested at that price don't inquiry. No Trades Cash Only. Title In Hand. Burgundy interior, the interior is torn and needs to be completely redone. Top only works manually and needs handle and adjustment. Cheapest 355 with a clean title great investment. Black wrap the car is silver underneath, fully serviced 8k miles ago, clean title 60k miles, good tires, no leaks no over heating, starts up every time. Call Jason @

 

Thanks. Great find. I might make a call as another project would be fun. No thrilled about the color though.

I found this kinda funny:

Then this pic with the engine diaper on the ground:
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That is a money pit

 

Do people think that showing a car with other cars makes it look more attractive? Hey, for this price, I'd probably go for it if I had the storage room.

 

I believe that car needs a complete repaint also. Whats under the wrap is a red door on a silver vehicle. Do your due diligence on this one and ask all the questions you have never asked on buying a car.

 

Check out the exhaust....huh
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This car is a complete do over. It is a 6 speed based on the badging. But still.

I suspect it needs a big major (motor mounts, water pump, AC / PS rebuilds, etc) & pray for no engine anomalies.

God only knows about the compression, valves & headers. It only has 60,000 carefully driven miles.

Clutch, throw-out bearing, triple seals...all need servicing I suspect.

Tires & wheels are a do over...CV boots? Who knows....

It will need a new interior & new paint.

Starting at $35,000 you'll have $100,000 into an $80,000 car if you are lucky

 

I would drive the snot out of it until something blows up

Heck with restoration

 

I think you might be a tad too late for that plan on this one

 

Bah! The seller says its a "great investment"...that's all I need to hear...where do I sign?

 

that rear window is really clean though

 

Wow, a bunch of negativity here! Might be a complete bucket, but would be great if someone did an EXTREMELY THOROUGH PPI.

Might be a diamond in the rough, who knows! Interested to see the "torn" interior.

 

Yeah have fun with that.

Wonder why it hasnt sold yet haha

 

"Might?" I can already tell it is a complete bucket....by the price, where it is listed (Craigslist) and what is not shown...(where are the pictures of the interior, engine, etc?)

A thorough PPI would cost at least $600 to $700...not worth the money, time or effort. But there might be a sliver of a chance of a "gambler" here that wishes to...

My bet is the "extremely thorough PPI" will only confirm what is obvious from the cursory visual inspection.

 

If a PPI is performed, I can pretty much guarantee the "check engine" light is on (or disabled) and the suspension light is on (or disabled) and a ton of other similar issues (torn CV boots, hollowed out catalytic converters, inop convertible top, etc)...just seen way too many of these ads, and heard the reports back from posters that investigate the "great investment". I've been on this chat forum forever....seen them all.

I mean seriously, lets get real....the best he can come up with for an ad script is that it doesn't leak or overheat, and starts every time?
I would sort of expect that from any car I bought, let alone a Ferrari.

 

Are you suggesting this car may have been abused in some way by the previous or current owner(s)?

I mean...look at her. She was treated well in the past right? /sarcasm

Poor thing.....
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Ha! I just noticed it has the fender blinker. To add to the fun, it is a euro spec car!

 

Even if it's being offered at half of market value? You may very well be right that the car is a raging POS, but it could also be a good opportunity for a skilled DIYer to get into a model that he could not otherwise afford. The *only* way to know is to do a careful PPI. Everything else is pure conjecture.

BTW, I'm not endorsing the car or the seller in any way, shape, or form. But I've seen way worse car ads placed by members here. I'd love to see this car fall into the hands of someone capable of returning it to its former glory, instead of continuing its downward spiral just because it's cheap enough for some wanna-be ricer to afford. That said, I hope whoever buys it does so with his or her eyes wiiiide open.

 

All fair points, but I do agree with most as there are significant red flags with the car and per previous post, a thorough inspection must be done.

But as Mike mentioned, it could potentially be some easy fixes for a skilled mechanic. Mine had some things that needed to be addressed in which I have fixed myself (been meaning to do a build thread), and have been some of the most elementary of problems.

Would be great to see a build thread on this car, if in fact that's the case.

 

My second 355 is a 95 Rosso Corso / Beige Berlinetta. The car needed lots of TLC and mechanical work. 26K mile car. I bought it as a project as I wanted something to play with. It will be a concours car when done. I bought it for near the price of this car and I've already spent near $15K. I'm also keeping track of my hours but I do not have a running total right now but I'm certain I'm working for $1.00 per hour

I won't be upside down in the end but this is a 95 red / tan Berlinetta - arguably the most desired of the variants, year and color combo.

From what I know about this spider, 60K miles and all the issues, it's not worth a penny more than $20K IMHO.

 

Yes, even in parts and down time...this car will not be a good value for a DIYer or even a skilled mechanic and body shop technician. If that were the case, cars like this would be snapped up by techs all the time to be their "pride and joy". But guess what? They sit unsold for months on end....

 

Each to his or her own. I'm a former shop owner so I know full well that "cheap" race cars and Ferraris often turn out to be the most expensive ones. But I've also seen a bunch of low mileage "pristine" cars that required a big investment to make them right. The only way to know what this car needs is to look at it, and even then it's a safe bet that you're not going to find every problem. But if I were in the market for a 355 Spider and was willing to take on another project I'd definitely give it a look.

 

Totally agree...not matter how careful one is, it can be a crap shoot...

 

+1 ......

 

I just texted him. Mainly for fun, kind of curious. I was throwing a low number at him.

My conclusion:
He does not know a thing about Ferrari's.

remember it was "serviced" 8k ago. He does not even know what was done to the car.

++++++++

He just texted me and told me he paid $9500 for it, 6 months ago.

GAME OVER