Cost of ownership?

Hi Doc

major engine out belt services run about 5-7k ish
this should be done every 5 yrs IMHO
valves and valve guide replacements are an unknown factor. I had mine done as preventative maintenance when I had my last major done....added about 2k to the bill if I remember correctly.
Not all 355's have valve guide issues.

Now a broken valve can be a little more expensive

Manifolds can be an issue but again not on all cars. My 355 had 18xxx miles on it when I sold it and the manifolds were fine.

If you click the search button you'll find a ton of info about them.

 

Ferrari's and airplanes are made of an alloy consisting of highly compressed 100 dollar bills.............Believe me!

Although 30K is a little inflated be prepared to have 10K laying around at ALL times....There are some that believe this and there are others that that will get caught with their pants around their ankles, there is no doubting this..

 

Couldn't be stated better. $10K is just about right to have lying around when something does happen.Also, if you buy a "cheap" Ferrari beacause of a "deal", you better have $20K sitting around.

Follow some threads where the guy just bought a 355 for $50k and then follow the same guys threads/responses several months later and start putting the puzzle together.

If you want to play you better be ready to pay.

Aside from the maintenance, there is nothing like Ferrari ownership....nothing!

 

It is also important to know a good mechanic (preferably within driving distance) for maintenance and repair. If you wait to buy a good car you should not experience those $10-20k repairs, but you really never know. It sounds like you are comfortable with the higher end cars, so I'd say research it now, and buy next fall when the prices get really cheap!

BT

 

Buy one that has already had the valve guide, and manifold problems addressed. Then focus on scheduled maintenance and enjoy the car. I'd still keep $10K in reserve for unseen issues.

 

355's have gotten quite cheap by Ferrari standards. IMO, this is due to the many potentially expensive issues that are known to plague them including just about the entire exhaust system, ECU issues, valve guides and some interior problems as well. Spiders also have issues with the tops. It's too bad since they are great sportscars and the last of the "small Ferraris". I would consider a "B" myself if it had the valves done, exhaust system replaced with an aftermarket system, etc. but even then maintenance requires the motor to come out every five years and this is expensive.

The newer models are cheaper. Some higher mileage 360's are having exhaust manifold failures but the motor does not need to come out for service and other issues are relatively few. 430's are having more exhaust manifold failures. I just had mine replaced under warranty at 12K miles but there is a new manufacturer and design so hopefully the issue is solved. 430's also have timing chains instead of belts eliminating the most expensive aspect of maintenance in previous models.

Dave

 

the 360 and the 430 are 2 different type of animals, the 355 and 360 are more similar.Im with you on the looks thing i love the 355 but if your going to track it ,might get a little expensive. What's key here is finding a good mechanic that works on ferrari that you feel comfortable with. No matter how good the car you'll find is ,its always going to have something go wrong(its a ferrari). Remember when buying one of these jewels, even in this market, you get what you paid for if its too good to be true it probably is,
. Ask for books and maintenance records.

 

No truer statement could be said ,words straight out of the Ferrari bible

 

I'm considering taking the F355 plunge as well and am quite scared of the reported maintenance costs. Aside from the engine out belt svcs every 5yrs and possible broken valves (these have been addressed on the car that I'm looking at), what other costs are involved? If the car isn't driven that much by me (5000-6000 mi per yr), I've heard one should change oil in the spring and again before winter (here in the eastern US). I would be changing oil myself, if possible. If this is possible, how much is the oil change for a do it yourselfer? Also, I've heard $3 per mile for maintenance thrown around...is this really an accurate number? $15K per year for me? From what I've read in the quote above, that seems quite high. Sorry for my rambling first post...

Any info would be appreciated.

thanks, RJ

 

$15K a year is bull$h!t. Maybe the first year if you get a problem child. $3-5 per mile is probably right for someone who buys an okay car, and puts a decent amount of money into it to sort it, then sells it before they can get that "cost per mile" demon back down. Of course barring a tranny failure and an engine fire. Seriously, though, a dollar per mile price is not relevant because there are so many factors that come into play with any car...

I plan on keeping mine until the frame falls apart, so I can be the first to say I drove a Ferrari for $0.05 a mile... This is of course just maintenance, not depreciation, gas, insurance, storage, blah blah blah. Once you get any existing problems sorted, and drive the car regularly it'll probably be $7-8K every five years if all goes well, including brakes, flushes, etc... Not a cheap car to run, but damn it's way cooler than any Vette, Porsche, Lambo, (dare I say Veyron? certainly prettier, and man the maintenance on that thing, whew).

That said, money is just money and the way I justified my 355B was by looking at all the guys who were 35 and had 3 kids and a minivan salivating over my vanilla 1999 911, obviously thinking "DAMN I should have done it when I had the chance." I seriously would rather die than look back and say "I could have." The only downside is I feel like I blew my wad, and the only thing left to achieve now is a family, home ownership, and financial independence. (BOR-ING, and kinda difficult right now) I'm just a newb, so don't take me too seriously.

If it whinnies the way a good horse should whinny, then buy that SOB. And spend as much as you can to get the most well maintained car possible. Of course here's the obligatory whistle-whetter:
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You can drop aftermarket headers for around $3k that saves some. Both F355 and Modena are special they have 5 valves per cylinder, the sound is incredible on the F355. The 360 is starting to show header failure as well but again you can go aftermarket such as fabspeed etc.. The Modena has slight advantage on the track due to less weight slight horsepower gain but it does have all aluminum while the F355 has aluminum here and there. They are both great cars so buy one and if you have a change of heart buy the other one Yes the Modena is more reliable and cost's less but it lacks the sharp looks and old school interior.

 

so the most the car could possibily cost you to own is 60 grand.

 

True 355s are cheap along with everything else these days ......

......... the manifolds are indeed a weak point on recent f-cars ........ even the 550s are seeing manifold failures.

Getting a 355 sorted or buying it that way ........... is as good as it gets ............ though I always do regular inspections of my 355 to try and catch possible issues before they get out of hand ..........

+1 .......... and check out the current 'condition' of the dang thing .............

+2 ................ I agree the 360 needs a serious face lift and lost that classic interior .................. if the 355 had more aluminum ............ there would be nothing better IMO .......