I found this ad today on a 328 GTS "1988 Ferrari 328 GTS, cars has 26.124 original miles.For $22,000, Red with black leather interior. The car was in a collision back around 2000 or so and it now has a salvage title. Most of the repair work has been completed. All parts come with the car that are needed to finish the repair except the windshield and a couple emblems. The cars does not have a radio either , but that is not really a problem. Any normal radio or cd player will fit. A new Ferrari bumper, the headlight assembly, front grille and rear grille under bumper all come with the car. As well as the fog lamps for both sides. It is missing the spare tire though. The car does start and run very well. And it has had the cam belts replaced last month. But the car has not been driven on the streets since the collision. The interior is in great condition. The targa top is also in excellent shape. This little Ferrari just needs someone to take the time to finish it and drive it. It would really make a very nice car. If any more pictures are needed or if you have any questions please ask." What do you guys think about a deal like this? If no frame damage, would it be worth looking into? I have to wonder if a salvage title car is ever worth looking at. Ric
I think the seller figured out he would be underwater in the worst way trying to complete the job. OTOH, if you have the skill and your own body shop, and it's not about the money, then $22K isn't bad. Those front fog lamp assemblies go for $1000 each, and the parts value of the car can't much under $22K. I think a windscreen runs $1200 or so (?), and you'll need the trim that goes with it - figure $2000 total for those parts, IIRC.
A windshield is 1490 at Ricambi. That and paint, a PPI, and a major, if needed, would probably push 12K. The car is local to me, so I may take a look. Ric
If you are self imployed it ia always about the money. You can do your own stuff for free and lose money or do someone elses and make money. Every hour has a dollar value. Its a parts car. Buy one that is in good shape and runs. There is only one way to save yourself into a Ferrari. Work hard.
I would say pass & get one with a clean title. You going to be in it for $$$$$'s & than have a car with excuses. Pass & get a good one from the start. You have No idea how expensive parts can be on a decent one, neva mind a crasher.... My 2 cents.\ Chris
I think the only way I would purchase this car is if I could get it for a very low price. It would be nice to restore a car like this over a few years, for the fun and to see how things fit together. The nice thing would be that a piece of art would be somewhat restored. I can't imagine the car having to languish forever. OTOH, it could be parted out, and perhaps it should. Thanks for the input guys. Ric
I can understand that. There's a lot of really elegant engineering that's gone into these machines. I wish I had the time and room to do more of my own work. As for repair/restore of a salvage car, it really depends on why you want a Ferrari. If you're looking to make money, then pass on a salvage title. But if you're looking to put it back together, just to drive its doors off again, then it can be a way to get started, if you know what you're getting into. But remember that the car will still have that salvage title hanging over it when you go to sell it, no matter how much you fix it up. Which only matters if you sell it. While I know a newer model like a 433 would have my 328 for a light lunch on a track, I still think Ferrari never made a better car for carving up suburban corners than the 328. It's a car you don't have to push to the limits to enjoy -- it's still enjoyable to drive even at 3/10s. But that's another factor: if you're going to drive it often, and not keep it away from the "real" world, you'll wind up with high mileage and lots of touch-up paint spots, which will impact the resale prices too. I've stopped looking at resale prices on my 328. Even if I hit the lottery or something, I'd still keep my "beater" 328. I keep trying to think how to write it off as a medical expense -- I always feel better after driving it.
A busted windshield is a hint the car is twisted. Also, the fact that it was totaled tells me adjusters figured damage in the 30-40K range (or more) to do right. So, I would approach with extreme caution. Dave
I thought about that just awhile ago. Possibly why the seller is looking to sell. I'll keep looking. My dream car is a 308/328 Euro spec anyway. Thanks everyone for the input. Ric
