348 or 355?

Apologies since I'm sure this is asked all the time - but when I searched, I didn't find a thread on it. I did see the $40K thread which has answered some of my questions but I didn't want to hijack it.

I've just joined the forum and I'm considering a Ferrari myself, and I'm debating what model would suit me best. I have a few options :

Option number 1 is to be sensible, not buy anything and invest / pay of the mortgage / move to a bigger house blah, blah, blah. I'm not sure I like option 1.

Option 2 is to keep my 911 and shop for a 348. Prices seem to be £25K to £35K - I could stretch to this, but I suspect the running costs of a 16 year old 911 plus a 13 year old Ferrari might kill me.

Option 3 is to sell the 911 and look for a 355 in the £40k to £45k region.

Option 3 seems the most sensible (if we ignore option 1) and although I expect a Ferrari to be less reliable / more expensive than the 911, I don't expect problems with the running costs. However - I'm not so keen on selling the 911.

The $40K thread has made me think option 2 is a very bad idea, even though I'd like to keep the 911. The general opinion seems to be that the running costs of a ferrari are significant, and this needs to be planned before buying. I am used to high running costs - last service the 911 needed a clutch, and since I was getting that done I thought I should have the wheels refurbed, and....... so the bill was £3K. But I would start worrying if I had two cars which were costing me £3K at the service. I guess selling the 911 and buying a 348 is always possible, but I'm not sure I want to do that - although the purchase price is less, this doesn't seem sensible if my budget allows me to buy and maintain the 355.

What are people's thoughts? The general opinion I've heard (from non-owners) is that the 355 is a lot better car than the 348.

What would you do in my position? And am I right in thinking that £30K will get me a decent 348 and £45K will get me a decent 355?

 

Dave,
I am as new as you are on this impressive chat forum, and I can tell you that the members of this chat forum will give you advice like you are their own brother!

I am also kind of in the same boat you are in. I want to buy a 355 and am currently looking at 2 of them. I used to own Porsches (3 of them total) and I am ready for a Ferrari now. I sold the Porsche for the reason you talked about... where I did not want to be spending to fix two cars instead of only one. In fact after doing numbers, I found out that I can really purchase a 355 outright after selling the Porsche and adding some $$ on top of it.

I chose to enjoy life while I can, and go for the 355, but not go into a much bigger house or pay off the remaining mortgage etc...

I figured that the reason we work hard is to enjoy life while we can still walk on two legs, not when we walk on two legs and a cane!

My humble opinion is to say goodbye to the Porsche for now. Focus on the 355 and enjoy life!

 

I don't know the market for 348 or 355 in Great Britain, but the maintenance costs there are much lower than here in the states (from what I have read). I have spent about $8-9k in a year and a half to get my early 348 totally up to snuff (repairs and services). Dale, Angelis, and Andy_Hls are the 348 people in your area to ask. The 355 is a little more expensive to maintain than a 348, but since it is newer it should have less items wearing out from age. The interior of the 355 is much better IMHO than the 348. The 348 is much less refined, but to me that is part of the fun! I don't think it would be good for you to go with option #2, but it sounds like you figured that out already. You could try option #4 and sell the Porsche and get a really nice 348 if you test one and decide you would rather go that route.
Good luck!

BT

 

348 - Costs depend on who you go to.

I'm getting a 31k major (most major) service at it will cost me about £2500 with a *very* reputable shop. But, you can take it to another very reputable shop and pay under £2k for the same thing, about £1800 in fact. This sort of service has to be done about every 3 years, normally an annual is about £800 I think.

As for consumables, 90% of owners do little mileage so tyres and things last much longer.

Going to a main dealer to service the car is not a prerequisite with older Ferrari's as Indies are as well respected, even more so than the main dealer options. With a main dealer you would be looking at £3500 to do the same service.

So, relatively, the Ferrari is about 40% more expensive than say running an M badged BMW.

If you're used to an old 911, I think you'll like the 348 better. The newer car is always a better "car" but older cars tend to have more character IMHO.

The 355 has more potential to go wrong and rack up a mamoth bill as there are a lot more electronics involved (F1/PS/Suspension). To minimise this, if you really wanted a 355, go for a manual. Just my £0.002p. Either way, Ferrari's aren't the fragile things they are made out to be. The electrics are the only real sore point IMO.

 

I will definitely be looking at manual. F1 gearchange doesn't appeal to me.

 

just felt more connected and more intense. 355's a great car, and in almost every area a superior piece of machinery. Find a way to take a couple examples for a spin - all the models are a bit different and newer doesn't mean a better match to your preferences.

I use an independent mechanic, last year was my 1st year of ownership @ $5.5k for clutch and a bunch of little things, this year only $500 (so far). But once fuel, insurance, detailling, self-park valet bribes, and the wife-taxes are calculated in, it's not so bad.

would also recommend finding a mechanic you can trust and work with, to me that's more important finding the car. You can avoid a lot of mistakes up front with a good mechanic. Of course, I won't even change my own oil.

I'd prefer to have a warehouse full of sports cars to own and drive all day, but the reality is one is the practical choice - might as well make it count.

 

I too picked a 348 Spider over a 355. Both for the looks (more aggressive, and more classical Ferrari to my eyes), and the feel (no power steering).

If you prefer modern cars with all the electronics and somewhat detached feel you'll prefer the 355. If you prefer a more back to basics go kart feel, get the 348.

 

Never drove a 348 and can't see how they are as bad as some make it out to be. The 348 seems like a ideal starter Ferrari, i own a 355 and i love it. I love every minute of ownership. The 355 is refined in the sense that it has power steering and a better interior, but it is still the middle of classic ferrari and modern ferrari. You can't really make a bad choice here! Just find the best example you can of either car.....

 

I've owned both and while I know I am going to get a lot of grief from 348 owners, the reality is that the 355 is a quantum leap from the 348. The 348 is frankly not a very good Ferrari, and certainly not a good car. The rear end is far too easy to loose under normal driving conditions without any warning whatsoever. And before anyone begins to question my driving skills, please don't. I've raced my cars for over 30 years and I know what I am doing. The only person the 348 was designed for and probably by was Dario. For the rest of us, go 355 and by all means drive it a lot. I've put over 40,000 miles on mine, and have had only scheduled service. The car is bulletproof.

 

Dave, better get back to Rennlist.....the 964 guys are missing you

Yes, most would agree that the 355 is a better car. But $15k better? Thats the difference between a 94 348 Spider and '95 355 Spider.

 

Actually - one of the rennlist guys has told us all my Porsche is only worth £7.5K. If his valuations are correct, I should be able to pick a 355 up for about £20K!

 

>The 348 is frankly not a very good Ferrari, and certainly not a good car.

Mate, that has to be the most stupid comment I have read on this Forum.

Congratulations.

 

I have owned both. The 348 was fun to drive much more like a go-cart feel. However, I love the 355. More power, more dependable, more user friendly as a non-track driver. Buy whichever car lights your fire and you can afford. You won't be disappointed with either.

 

Very well said...I sold my P-car TT and bought my F355 for that very reason....While I am young enough to enjoy it!

 

If you prefer refinement, get a 355. If you want to feel more engaged with the driving experience, the 348 fits the bill. I'm not sure where all the "348 is a bad car" stuff comes from, I've found mine to be a reliable daily driver and IMHO find it more fun to drive without all the gadgets found on the newer models. So it really depends on your personal preference. And don't worry about the Porsche - you will either sell it and not miss it shortly thereafter, or you will keep it and find you prefer taking the Ferrari out anyway and then sell it!

 

A very good 355 can be over £50K, while a good 348 mid £30K's, but yes a £15K difference is about right.

The 355 is a better car than a 348, as much as a 360 is better than the 355 and the 430 better than the 360...and they're all better than a 308 and a Dino. But that's evolution for you.

IMO, if you can afford it, get a 355. It's a great car and a future classic.

But if you get a 348...you won't be dissapointed, but it may spoil your future Ferrari ownership decisions. Why? because you'll want all your Ferrari's to have the same raw feel that the 348 has. For example, I test drove a 360 with the intention of buying it....and hated it. I've grown used to (and to love) the raw feel of the 348. That to me is what a Ferarri should feel like. Plus it just looks so damn cooool.

You'll also find a lot of people unfairly criticising the 348, but if you look at road tests at the time, they loved the 348 and in one group test considered it a better car than the NSX. Jeremy Clarkson also loved it at the time.

Dave, if you're near London, I'll be happy to show you mine. But I won't be selling...

 

Went through the same thing about a month ago and decided on the '97 355 spider.. I have driven both and there is no question the 355 outperfoms the 348 in everyway. Don't want to hurt anyones feelings the 348 is a nice ride but the 355 is it!!! The sound of that engine at 8,500 rpm is just unreal!!! You only live once and no one is gaurenteed tomorrow so go for the 355... I think my wife put it best... Why would you buy that one (348) when you could buy that one (355)... Yes I married a keeper!!!

 

I bought my 348 from a dealer where the previous owner had traded it for a '95 355B. I spoke to the previous owner and he was quite disapointed with the 355. I think he already has it for sale.

As far as performance, he claimed the 348 (tb challenge) was faster than any 355.

I really believe the 348 was the last truely hands on drivers car.

 

i think the you should buy them both! that way you would have the best of both world

 

LOL!! And then you woke up and it was all a dream

 

They were Lighter & had a Superior Suspension to a Stock 348, but they Can't Out-Perform a 355 !!!

Well maybe Chaas

 

I might be a youngblood to the real world, as well as Ferraris; but I say sell the Porsche, and get a 348. That way if something goes wrong with the 348 you can fix it with money you still have left. Nothing would be worse than trying to stretch for the 355 and then have something go wrong with it and you can't afford it.

Depending how much money you have left after the sale of the Porsche and purchase of the 348, save $5K for an emergency maintanence fix, put the rest into the mortgage or investment or something that is better than sitting in the bank.

 

That quote from your wife shows extreme clarity!