Please explain or help me understand

you must understand that the world is kind of crazy lately. COVID, chips and the freight problems are part of the caos originators.

New cars are selling above MSRP. Used cars prices in general are very high. And classics are as well in the sky. Quarantine made us all think we have lots of time to fix and work on our cars.

low mileage cars 3x8s are above $100k and sometimes they require lots of works for seating so much time.

Cars are not getting younger.

 

https://www.forbes.com/2002/09/03/0902vow.html?sh=2225422e12d0

A 2002 publication

 

Mileage is not your enemy, it’s maintenance of the car.
So many low mileage cars that need so much and high mileage cars that drive awesome.

 

https://www.google.com.mx/amp/s/jalopnik.com/this-ferrari-328-gts-is-the-best-kind-of-used-car-5952365/amp

And from 2012

 

Now this is a Fact.

 

How many miles do you expect to be on a 34-46 year old car? 100 miles a month on a 1976 is 54,000 miles.

And yes, all classic cars are expensive. That's because the dollar is worth less lately. I saw a $60,000 KIA at the local dealer.

My 328 has 114,000 miles on it. $70K wouldn't buy it, because what would I replace it with?

 

"My 328 has 114,000 miles on it. $70K wouldn't buy it, because what would I replace it with?"

If I was doing it, I'd probably replace mine with current JP special Mini Cooper.

 

...which has nothing "mini" except the name...it's bigger, and heavier than our cars, and the wheelbase is actually longer.

I'm just out of a drive with the 328 GTS, enjoyed one of these wonderful autumn mornings when it's at freezing point when the sun appears, and then, as it rises, it slowly burns the fog...just gorgeous countryside.
Looked at one "Mini" from close quarter, seated low down in the 328: nothing "mini" in that car...

Rgds

 

Well, that's true. Compared to virtually any modern car, the 328/308s are the real "Minis!"

OTOH, I drove JP Works Mini recently and was quite impressed - good power (306 HP) and handles like on railroad tracks. Fun car to drive PLUS the AC actually works!

 

Because of my work schedule last year I seriously considered selling my 308 and acquiring another 80’s Porsche 911. Felt it was more user-friendly. Just turn the key and go on the days I was home. My F -chat buddy (thanks again Sam!) sent me a note asking me to reconsider selling and boy am I glad I listened. My car is torn in a million pieces in the garage at the moment but nothing quite as gratifying as walking in and seeing a 308. To the original poster- persistence my friend.

 

I've already thought about it and if I were to replace my 308 it would be an Alfa 4C - but only if my left knee goes out,

 

Oh Yeah!
... Seriously stupid fun! Underrated vehicle..

 

I have been shopping since August and have gotten serious on a couple cars and paid for PPIs. What I noticed lately is that there is a real scarcity of decent cars in the middle where price/condition make sense. I am either seeing junkers that are overpriced, or "nice" cars that reveal $15-25K of issues after PPI is done. They are effectively overpriced too. Those cars would make perfect sense at a lower price point but sellers are not budging. It's frustrating.

The cars are 30-40 years old, so I expect to find problems. To me that should be factored into the price of the car, since the buyer inherits those problems and either needs to fix them or pass them on to the next guy.

I increased my budget quite a bit but it's not helping me find better cars. They still have problems even at higher price points. I'd just be paying more to inherit the problems. Makes no sense at all. I guess the good thing is that it's effective at killing any emotional urges I'd have, and keeping me from making a mistake.

 

I was lucky and last month I got my 328 1988 from Bring a Trailer. Real good car and at the price I had budgeted.

have you checked on this site?

The issue is that many “wise guys” are just taking advantage of the market and flipping cars. specially cat selling sites. Just some cosmetic fixes and that’s it.
BaT is a great place to buy.

 

You should wait until this used car price bubble bursts, and then buy the best 328 that you can find. Dont worry about the miles, just the maintenance records, and as far back as possible . My car is an 89, and it has never wanted for anything, and because of the meticulous maintenance, its gone 104,000 miles with no problems, and its good for another 100 k. 308 s are great cars, but the 328s are better. I hope good fortune finds its way to you .

Thank you,

 

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I have alerts set on BaT and have watched several auctions recently. Have only seen a couple cars I thought were worth bidding on. Many of the cars are selling for higher prices than I would be comfortable with. That Rosso 84 QV shown in the pictures had quite a few issues and I was surprised it went for $72.5K. I had looked at much nicer ones over the summer that were selling for $70-80K. And the Rubino 78 had all sorts of rust problems, poor interior, and sold for $62.5K. That had "money pit" written all over it. I suspect some of the buyers are not doing adequate research and getting sucked in by emotion. Neither of those two cars had PPIs so that is a big risk.

 

I don't know about BaT. I bid on a 308 there back when I was searching and after blowing through my limit I got cold feet and bowed out. It seems that in the end you are in a public boxing match between one or two other bidders, the adrenaline is pumping and it just felt comfortable for me. I decided to go the old school route, physically see a car, meet the seller, sit in it, start it up and make an offer. I suppose with an auction you can maybe get lucky sometimes but the idea of paying that kind of money for a car sight-unseen felt rushed.

Anyway, you'll find that there are some weird things about Ferraris. One of them, as already mentioned, is the mileage stigma. You are going to pay a fairly unjustifiable premium for low mileage. Same goes for Carbs, GTB or the holy grail Vetroresina and it's not because they are "better" it's only about rarity. They say that makes them worth more. well okay, but you PAID more so it's a wash in the end, at least for you. The early 2V injected cars (1980-82) get a bad rap and can be a bargain and then there is the Mondial if you don't mind hauling around a back seat. Ask the owners, they seem to be perfectly happy.

Good luck with your search, eventually you'll find the right one, or it will find you depending on how you want to look at it.

 

No matter what, even with good maintenance records, these 308s and 328s are going to need thousands of dollars to get them up to snuff. We are talking not so much with the motors, provided the belts and bearings and cam seals have been kept up over the years. Im talking about suspensions (all shocks and bushings) , motor mounts, low miles or not, they need to be replaced. Starters and alternators , fuse boards, acc and clutch cables , caps and rotors , wires, plugs, connectors, brake rotors and the list goes on. When I bought my car, it was only 10 years old with 20 k miles, so I enjoyed the car , with normal maintenance until I hit about 100 k miles, then it took at least 25,000 to refresh the entire car, including a brand air con system , suspension with all new shocks , bushings, motor mounts, and every single gauge and switch , less the lock , which I am still trying to source new. I also replaced the diverter motors for the vent / heat system. Im probably low balling at 25 k, I just cant remember . I also bought an extra targa top so I could have one painted the color of the car, and an almost brand new extra set of 17 inch Compmotive Rims, and a 4500.00 audio system. I wont be alive to hit another 100 k miles, but my 89 328 is now ready for another 100 k miles. Keep this in mind when you buy your first Ferrari 3x8s, that are now 35 years old and older, you are going to have to spend thousands to get them to be as good as they were 20 years ago, its that simple, I know, I have lived with mine for 22 years, I have no complaints.

Thank you

 

A 308/328 is no longer the "entry level Ferrari".....

At car shws I point folks towards the now cheaper 348.
Or, because of production volume, a 360 could be had, for "less than" a nice 308.
It is, what it is......

 

For cars of the 308/328 vintage especially mileage should not be a concern. These cars are coming into the 40 year old range. 2k miles over 40 years is 80k miles and would at least in the surface indicate steady operation over its life. I would see that as a positive.


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@ginoBBi512 That's what I have been struggling with. Aside from a few cars that have been restored, the 308/328 cars I have been looking at all show deterioration in the suspension bushings and engine mounts, and that seems to be about $5-7K to fix. I see a lot of bent hoods, which I can tolerate, but I deduct $1500 for that because it diminishes value and I either need to fix it or pass it on to a future owner as a discount.

The most recent 328 I looked at also needed minor rust work ($1200) and the PPI flagged front rotors and pads ($1700) and fuel injection work ($2400). Few other items that ran up to $15K. I can do much of the work myself but I still adjust the price using quotes from actual mechanics. That particular car was selling for $115K, about $10K above market comps, and when I mentally corrected the pricing and factored in the repair items, it dropped me to around $90K as a fair offer.

BTW, I don't know if Hagerty's valuations mean anything anymore, but that car was appraised at $78K good, $100K excellent, and $137K Concours. It fell between good and excellent, so my independent estimate of $90K was in that ballpark. Cosmetically the car was great, but it's the hidden stuff that ends up hurting the price.

 

My first 308 had a kink in the hood from someone trying to force it downward while the hood stay was still extended. Longtime friend that worked for paintless dent removal came up to the house we took the hood off the car and laid it on two sawhorses that were each covered with a towel and he proceeded two bend the hood back into shape. Took him about 15 minutes to fix. Said the aluminum takes a lot of pressure to get it back into conformity. Cost me a Pepsi! Owned the car for another five years and you’d never guess it was ever bent.

Regarding price of admission I would just say, when I purchased my current 308 I felt I was paying too much, given what the car needed, probably $8000. Looking back it was a real bargain and a Euro QV at that. Many have been left empty-handed using the logic that they will just wait until owners come to their senses and start pricing their vehicles accordingly. That ship sailed around 2008. These cars are not going to get any cheaper. No fire sales to be had given all the free money handouts . Find a car that you like, write the check and forget about it. Move on to enjoying ownership! Price of admission will seem like a real bargain in five years! 2 cts.

 

I am seeing cars that have a bend in the hood with no damage to the skin, and I think those would be an easy careful fix like you experienced. Others have the bend and a pretty good kink to the skin, some even with a dent from the inside where the strut end made contact with the skin. I guess those were bent by a real gorilla.

The most recent 328 I looked at had the minor bend, but I think it was maybe partially "massaged" back by an unskilled person at some point. Story is that the first owner bent the hood on the very first day he owned the car. I would probably need shock therapy if I brought a brand new Ferrari home and immediately bent the hood. Anyhow, second owner left it alone all these years. I'd probably leave it alone too, or try strategic PDR.