Purchase 360 with rebuilt engine?

I found a car that seemed like the right car for me. Car has 30k miles, 75% clutch life, new fabspeed headers, tubi exhaust, CS TCU upgrade, BBS Magnesium Challenge wheels, great condition, color combo I'm looking for, knowledgeable seller etc etc......Everything is looking good. I'm excited about the car thinking this may be the one. Seller discloses he had an oil change and service done at a very reputable Indy shop that has worked on Ferrari and almost exclusively Italian cars since the 70's. This was about a year ago. They did not fully tighten one of the drain plugs and when he drives it the oil pressure dropped to zero. Oil under the car. He stops, turns car off and flatbeds it back to the shop. Shop pulls the oil pan and sees one of the bearings looked worn, likely from the lack of oil. Shop keeps the car for 3 and half months and completely rebuilds the engine....photos included. They also did belt service when they put it back together. They told him to keep under 4k RPM for a thousand miles, which he did, and now there is about 1500 miles on the car without issue. The shop has followed up to check it out and all is good. It is in now for an oil change and they are looking over it again. Obviously I would talk to the shop that did the rebuild and check what exactly they did with what parts and get a PPI from another shop.

My question is would this scare you away from the car or not? Does this significantly lower the value? I haven't personally rebuilt engines but I know my away around an engine bay. I have mixed feelings. If done well, it could be fine, maybe even a slight positive. On the other hand, it gives me pause because a factory built engine is usually not put back together as well as when it came from the factory.

What are you guys thoughts and does anyone have experience with a rebuilt Ferrari engine?

 

A rebuilt engine is not necessarily a bad thing at all, but given the story I'd be concerned about how well this work was done. Accidents happen but I'd certainly do my research as to the quality and reputation of the shop involved.

I'd also be asking for details on exactly what this "rebuild" entailed. A set of big ends is not a rebuild, and other issues may be lurking.

 

PS 75% clutch life does not mean it's still got 75% of time left on it, nor is it necessarily a reliable measure of wear.

This would be a concern for me.

Don't let this put you off too much though. The clutch on my car was completely worn out when I got my car (was slipping under heavy acceleration) - it's nothing that can't be easily fixed with money. Clutches are wear items, don't let it put you off - just factor in the cost of a replacement.

 

Plenty of vehicles have rebuilt engines.

If done properly should be no problem.

 

Thanks,

What do you think it does to the value of the car?

 

I do not think it is even of consequence.

I have had 3 -4 cars in which I rebuilt the engines.

A weak clutch is more noticeable and brings an F1 down more in value than a rebuilt engine.

If a decent car that lights your fire go for it.

 

If you don't mind me asking, what kind of cars were they? I've had a couple that had rebuilt engines. One was good. The other was not and used oil excessively far past break in. It was an American V8.

 

What else did they do to the engine. Papers and a full specs should be included.

 

Also, if pressure dropped to "zero" whilst idling this is nowhere near as bad as "zero" pressure under higher RPM's. When hot, there's a very big difference on these cars between idle pressure and running pressure.

I'm guessing it was probably the oil tank that didn't have its drain plug installed properly. If it was the sump plug, it would have poured oil out from the moment it was filled.

Tough to say.

Personally for me, if it was done properly and thoroughly, it would have a neutral impact on price.

The problem is going to come down to trust I think. Trust that the shop has done a good job on the rebuild. A good shop should never have left a drain plug out, or at least should never have failed to pick it up when the car was started.

Some would also worry about the scope of the engine rebuild and how thorough they were checking all the other components weren't impacted. I'd be really worried about the cams/top end personally.

 

1948 Renault 5
1931 Ford Model A
1959 MGA
1967 MGB

and there were a few later ones I can't remember

It does not matter what the car is

All the same mechanicals

 

No, he was on the highway when it went. He pulled over immediately and turned the car off. Oil under the car....so at least it wasn't dry! Lol

 

Yeah that's not good.

Did he hear any knocking/tapping sounds? Water temp?

 

was this car in Florida? A spider?

 

If oil pressure suddenly dropped then that would indicate a lot of oil dropped very quickly.

If he pulled over right away and didn't hear any weird noises, there's a chance the engine is fine and that rebuild is actually a bonus.

I'd take the car to an authorized dealer and pay for a very thorough inspection/opinion.

 

Yea, I'll be getting the details on what exactly was done. Some old cars don't have as tight of tolerances as modern vehicles. I'll only really be able to go by my gut if the shop and shop records give me warm fuzzies, I guess.

 

No, it is not a spider and I don't believe ever in Florida

 

If you get good data and a reasonable story then I wouldn't let it hold you back. These engines are generally pretty tough and reliable but they are very sensitive to being maintained and worked on properly. When neglected the can bite back pretty hard.

 

It does not matter what the car is.

If the engine is properly rebuilt it is as good as gold.

Well then it is not the car of which I was thinking

 

I would also advocate that you verify everything, and don't believe a word you're told by anybody with an interest in selling. People are liars.

 

Yep absolutely true. I'd just check that they did the work properly and didn't cut any corners with any parts they've put on it.

I've heard stories of people putting in all sorts of aftermarket parts on 355/360 engines to save money. Pistons for example. A local dude here was quoted an engine rebuild and "saved" money by putting in cheap aftermarket pistons/rings. Regretted it very quickly.

 

Yep, have to be quite cynical in these situations. Really go by the records and what can be proven. With only 1500 miles I'd be concerned with not knowing if everything is seated and then buying a car I can't enjoy because it's burning a ton of oil. Makes me think I may need to look harder at the 50k mile car I've been looking at with a fresh clutch and 9 year ownership!

 

Check service history and ownership history. If both are good and everything seems fine, then you're probably onto a winner.

50k miles is fine on an older car that's been well maintained. My 355 has about 40k on it, which is only about 1,500 miles per year. It does however have absolutely impeccable service history and has been arguably "over maintained". It runs like a swiss watch.

Ask the owner if he heard anything, anything at all when the oil pressure dropped. He may very well have dodged a bullet but I'd want to get everything verified by somebody who has no interest in the sale.

 

My 2000 gated 360 pushed out a head gasket at 70K miles. I had the engine completely rebuilt, down to the bare short block. We milled 11 mils off of the heads. It has crazy horsepower now and has been running flawlessly for over 35K miles. A rebuilt engine is not the end of the world.

 

you’ve done 105k miles on your 360? Good for you, well done on enjoying your car.

 

I would only buy this at a sizable discount,
I would negotiate a steep discount

I woukd want to see this car run up to redline several times through the next oil change interval before considering this car. Then a detailed Inspection and leakdown test.


There is a big difference between break in miles and performance use.