Owner's survey for 355's

Like many have said, I also like the look and the sound of a 355... and since I have bought my 348 and joined this site, I have also followed many threads on the 355s... there are posts however that stick in my mind when I think about buying a 355... particularly from "Rifledriver"...

most likely when it is time to add another F-car to the stable I'll probably go for a 360 or a 550.

http://ferrarichat.com/forum/showthread.php?t=100209
http://ferrarichat.com/forum/showthread.php?t=49782
http://ferrarichat.com/forum/showthread.php?t=121928

DF

 

Strange... would have thought they'd be doing anything to get you to buy it and then bring it in for service to them

 

A lot of good posts here.

+355 very well said.



Fact is, a well looked after 355 will be cheap compared to a deferred maintenance nightmare 550.

I wont repeat the advise here, plenty of good stuff but I will add that you should buy the car that touches your soul, imigane buying your second choice and having to spend 10k to get it running again after some unforeseen mechanical failure, that is going to hurt much more than spending 10k on your automobile love of your life. Don't loose sight of the fact you are buying your dream, it makes no financial sense no matter how you cut it, buy the car you love, you wont regret that.

 

Please don't be insulted by this comment, but I couldn't agree more with James above. I mean it only to be realistic and honest. The fact is simply this. There is not a ferrari that has ever been sold that can guarantee that you will have low maintenance cost. I have a 355 that I feel very fortunate to have because I bought it from an authorized dealer and it was well maintained. Any F-car can at any moment lose a timing belt or valve guide or whatever. I am not even near what I would describe as rich and everyday is a crap shoot that my 355 will continue to be such a joy. With all that said if you have a passion for a Ferrari buy the best one you can find in the model you most prefer. Any other purchase is just a waste because you compromised and may still have high maintenance cost. If the worry of what you might have to spend to keep the car in excellent condition is a priority then I would honestly look at a different sports car because if you don't simply love the car because of the car and no other reason you will eventually regret your decision and an F-car will probably suffer neglect from the disgust of what is eventually going to be an expensive investment to own and love a Ferrari. Just my opinion my friend.

 

Had my 355B for over 5 years. Just took it down for another service. It's been 5 trouble free years since the last service. So, I estimate about $1K/yr in service. Given that the car is such a beautiful example, I don't think that is an issue. Just make sure you find a well sorted and documented car. Make sure it has been serviced by someone who is trusted and respected! If you find such a car, go for it. I will keep mine for many years to come. It has other stable mates but it still has a place of honor!

 

If you put valve guides, new headers and cats in it then you can get to $20K.
If you are unlucky enough to pop a belt, then that major can cost $20K.
Otherwise a major is $7K and lasts 5 years, $1400/year. Like most others posting here, I can't say that my 355 costs any more to maintain otherwise than any other 12-year-old performance car.

So, is it worth it to pay $1400/year to have one of the most beautiful, best sounding, head-turning-est cars ever made in my garage? Come over and I'll show you...

Wallace

 

I personally think the difference in ownership cost (depreciation, maintenance) would be similar whichever you choose.

Having had 2 355's, I would encourage you to start there! It is so different from a 550 that it is hard to compare, but I feel the 355 is more of how you probably expect a Ferrari should perform.

 

Just remember friend the bigger they are" More Expensive" the more they can cost. I'm not trying to insult you but with your financial obligations maybe a nice 308 or 328 might be an all around better way to go.

 

Another way to look at it Kevin is that $75-$100 per week seems to cover all regular maintenance expenses, unforeseen breakages, AND a major every 4 years.

Other than that:
- A thorough PPI with an ind. mechanic
- Change out everything on a major and don't skimp out
- Warm the car up well before hitting it and don't drive the sh*t out of it all the time
- Change fluids every year.

Hope that helps,

-Billy

 

Are you going to be comparing fuel economy as well? I don't think Ferraris are cars you can rationalise on running costs - if you try, you'll probably end up buying something other than Ferrari. You buy them because they make you feel good when you take them out for a drive. If you have a passion for the car, then the running costs will seem worth it - if you don't then they won't and you'll be disappointed.

The characteristics of the 355 and the 550 are so vastly different that they almost aren't comparable. Rather than trying to ascertain which car would have lower running costs, you should really be trying to decide which one you would enjoy more - you're not going to be happy if you have the perceived lower running costs (which will still be very high) but feel you should have opted for the other Ferrari instead. I'll leave the estimates on the specific costs to those who have personal experience with them. However, as others have said, the collective wisdom of the forum suggests that your best bet on getting lower running costs (for a Ferrari) is to pick the best-maintained example you can get your hands on.

Drive both. Try to leave thoughts of wasted money on running costs out of your mind when you do it. Chances are that one car will make you happier than the other and that's the one you should buy.

Good luck!

All the best,
Andrew.

 

Sorry If I went the wrong way with my observation of your question. I guess the only answer I can give is I bought what appeared to be a well documented and serviced 97 355 from F of New England. I have had the car for getting close to 4 years and the majority of the money I have spent on it was not repair but upgrades like exhaust, TUBI/ Fabspeed. With that said my major service is really due now but I have decided to wait for fall since I won't miss driving opportunity as much. So cost will soon be rising. As far as depreciation I don't think you could ever find a better time to buy either model. I doubt many here would argue that the 355's or 550 are going to lose much if any further value than they have in the last couple of years. You are in a great time frame to purchase a dream no matter which car you choose. I hope that helps. The only thing you said above that concerns me is

"its just that I'd like to buy the one that will waste less of my money over the long-term"

To Most of us its not a waste just a passionate expense!! Again just my Opinion! I hope this response didn't come off as such as an attack as before. Best of luck Sir!!

 

I think the gist of what a few of you have been saying is this...Doktor- don't buy a Ferrari.

While I am new to this forum I've owned a 308, a 328, a Mondial, BMW's, Alfas, Porsches.... Now a sweet 355 F1 Berlinetta.

I bought a documented car that had been driven- not a garage queen. I'm fixing all the cosmetic issues now including a dash and upper door panel retrim, curing the stickies, fixing the F1 LED indicator and then the annual service. Next year I'll do a major. I expect the car to be highly impractical, expensive to maintain, and foolishly inefficient. It's not an investment.

The s**t-eating grin on my face when I drive it is priceless. I really like my 996 cabriolet- I LOVE this car.

If owning a Ferrari can POSSIBLY compromise any other aspect of your life- do not buy one. I've been in that position and you spend EVERY day wondering if you should sell it to pay for this or that. Most of us now consider the car an indulgence, and have more than enough cash tucked away to cover any contingency... and that makes for a happy Ferrari owner. To impose rational thought on the prospect of purchasing a 10 year old exotic car just seems misguided, in my humble opinion.

 

Very well said...

 

Some fantastic posts in here. All good advice. Although I have yet to own a 355 (one will be in my collection before I die), I pay close attention to what the top mechanics who post on here have to say. Most of the time, it is disheartening. That being said, the 355 is quite possibly the greatest V8 Ferrari ever made. They are timeless, epic, and the end of an era for Ferrari.

 

You think it's bad here?? The Porsche guys basically killed the 996... You can buy one for NOTHING now. My clean, perfect 2002 Cab is worth less than $30K... It's been a solid, reliable, fast, fun car. I've had the RMS seal done twice, and but that's cheap- and guys on those forums cry about "RMS" all day! The advice given there is if the RMS is even "Moist" you should "Avoid the car at all costs".

Luckily for me I had not discovered rennlist.com prior to buying the car- or I would have deprived my self of all those years of enjoyment!

And while i totally agree with the "Buy the best car you can afford"- I bought a dirt cheap dog of a 308 10 years ago- fixed most of it myself- retrimmed the entire interior myself, drove the wheels off the thing and there was not one single day during my ownership that it did not need "something"... but I had a blast with it.

 

You just said it all, Thanks Brother

 

Nice car!!!

 

Get the one that you desire more. Maintenance, depreciation and unforeseen repairs will travel it's own course and will differ from car to car. But if you feel that getting a 550M or 355 may affect your kid's future in any way, don't do it. Nice Ferraris will always be around, but your kids grow up only once.

 

Don't buy a Ferrari if you easily worry about your money, investments, depreciation or college funds. It will completely ruin the experience.
Buying a Ferrari is not about spending the initial cash on the car. That is only the beginning.

Good luck on your search. The most difficult step is buying the first one.

 

You will not go wrong buying a car from Steve Barney, and you will not go wrong (or get reamed) having it serviced by Tom Jones.

I love that blue, it looks fantastic. I sat in the 550 there (Tom just finished servicing my 355). The 550 is a great car, and in many ways it makes sense. But - despite the V12 - it simply does not have the sense of occasion of the 355. Or the look. Or the sound.

But your best bet is just to go there and drive the two cars side by side, talk to them, and decide. You have a perfect opportunity to make it a one stop shopping experience.

Enjoy!

 

I love my 355 and if you add up all of the costs and depreciation on that for the last four years and compare it to the costs and depreciation on my 5 series BMW I bought 3 years ago, the BMW was way more expensive.
All of the issues are slowly going away from 355's as time goes on. Things get fixed along the way and most things get fixed for good by aftermarket parts that last forever. Other than the engine out which will always have to be done, the rest of the things will sort themselves out.
My 355 has paid for itself many times over in free parking, free nightclub admission, free drinks, free food, photo shoots in movies and magazines, and countless late night drives where all I could say was damn that was fun.

 

OK, then you really only have one choice....................................








355 Baby
I like the 550 but people will mistake it for a Corvette. No one ever makes that mistake with a 355