Looking for advice before someone makes a regrettable decision with an F355

IMO it's between rebuilding the existing engine or parting the whole car out. If it were me, I would look for some great independent shop who has experience w/ Ferrari engines who could give you another estimate.

 

$40-50K for a rebuild it total BS.
What does it mean "Two of the cylinders are just about out and a compression test shows the whole engine can fail at any moment."?
The idea for an engine swap would be ALOT higher than rebuilding the existing engine for sure, plus would lower the value of the car.
And buying a used engine is a gamble too, I just leakdown tested one 2 weeks ago that was bought to replace a 355 engine that had blown a head gasket and had been sitting some time...the used replacement only had 16k miles, but was in worse shape than the original, one whole bank leaked 26-38%, and one cylinder on the other side leaked 50%.
Needless to say, we're rebuilding the original engine, at a cost not a whole lot more than what the used engine would have cost.
The cheapest fix is to rebuild the existing engine, with better than OEM parts that are available.

 

Rebuild to keep the car or part out if you choose not to keep it.

 

Just give the car ro me, and my son and I will do the rebuild (even if it takes 2 years)

 

A couple of points, in order to install an American V8, the engine will have to be converted to a dry sump and the flywheel removed. Thus the whole engine balance become in question. Another way to look at this is that the centerline of the F355 crankshaft is only 8 inches above the road surface, or about 4 inches lower than in the typical Vette. If you can't get the engine low enough it cannot mate to the transmission, the whole project is worthless and meaningless.

I do not know what is wrong with the engine in question, however, I do know of several rebuilt engines that needed a lot of internal parts {cylinders, pistons, head work, new valves and guides} and headers that did end up in that price range by a local independent shop. But from what yo have said there is every reason it could be rebuilt for $15K-ish if all that is needed is headwork {Valves, seats, guides} if the pistons and rings are servicible. And of this $15K, $5K is for the major service you/he will want anyways.

 

Hi

My mechanic in AZ is very good. He was with Ferrari for 25 years and now helping to take care of the Ferrari dealership racing team. He has rebuilt many of these 355s as well. I think it is worth it for you to give him a call to get some ideas (send him some pics if you have)? Talk to him to see what you and he think?

His name is Andy Falbo 480-836-7915.

Best of Luck.

 

I've raced with a Mondial that had a Corvette motor in it at the Dunlap track in Huntsville, but the trick there was that the motor and transmission were swapped simultaneously.

The Mondial T shares the same motor/transmission as the 348, and the 348 shares the same engine subframe as the 355, so a motor swap is actually doable. I've essentially seen it.

If your goal is a track car, that's not a bad option.

However, if your goal is a daily driver that has to pass emissions...or a concours Ferrari, then clearly you will want to rebuild the Ferrari motor that is in it, or buy a used Ferrari motor that has been freshly rebuilt.

Giving away a car in that condition is probably a White Elephant, though.

 

Since you got the car for free here's an idea. If you or your friend are at all mechanically inclined or interested why don't you see if there are any adult education mechanical courses at local community or private colleges. If there are use the 355 motor as your or the classes rebuild project. If you're lucky maybe the parts you require will only be a few thousand. Best case scenario you have servicable rebuilt engine. Worst case you botch the job and you can still sell the car and engine as parts and more than recoup the costs of the engine rebuild parts.

Just a thought...but it would be fun would'nt it?

You know the motor's problems may only be head related and relatively simple to fix.

Good luck and let us know what you decide.

 

I agree with this

 

and this

 

I'd sell it as it stands....to someone mechanically inclined, or with a known source for a used engine.

Any details as to year, miles, exterior or interior condition?

Photos might help the "guys" assess whether or not this is worth it. For comparison, ScaleDetails (Stephane) has an F355 Spider for sale in FAds in the $50's....

 

No big deal about an engine swap it's not like you have a Dino or Daytona on your hands, if it is resale you are worried about most people want a sound car more than a car with an iffy original engine. You can find a used engine anywhere from 8k to 18k most of the time with less mileage than your buddy's car. Besides you keep the original for parts or in the rare case the 348/355 become collectors cars to eventually rebuild.

 

Looks like fluid leaking from the motor in the first picture...

 

If that first picture is the actual 355, it is a euro car.

 

Accepting that the car needs a complete overhaul and rebuild is where I would start my challenge...