Question on F355

Hey there and congratulations for wanting to come aboard. Here's some advice from a person who really studied the cars for a long time before deciding on one and having taken his time finding the right deal. Believe me, it's the ONLY way to become an owner.

My desired car was the same as you...a 355. They are a good looking car and they are fast as hell. But the more I got to studying the 355's, the more afraid of them I've become. There are a lot of variables to consider on every one you look at and they are damn expensive to repair. From what I've found, it's the most expensive F car to own from anything made between say 1986 to about 2003.

I decided to take a step down which turns out to have been a step up and got a 348spider. The best car I've ever owned. The 3.4 engine is considered a "daily driver". The services on them are cheap in comparison to the 355's. There are very few things to go wrong with a 348 that can be very costly on a 355 such as: Tops, Power Seats, Cats, Headers, Gaskets, Valves (THIS ONE IS MAJOR), and on and on...

After driving mine and having it side by side with a 355, I'm more partial to the lines now of the 348. The power steering on the 355 I thought would make all the difference to me, but I don't hardly even notice mine doesn't have it. The AC works beautifully, the layout is great, and the prices on them make them a very affordable exotic. Don't forget it's affordable to repair to! Take my advice bro...you can't beat em! Also the performance in the 1996-99's are almost exact to mine. The 95 355's were faster than the 348, but they scaled them back for troubles with misc. parts. I don't think there's much of any difference between mine and later 355's.

But everybody has got to go with what suits them so if it's gotta be a 355, take this advice to the bank. Don't go for a salvage title car. The difference in price will not save you anything. In fact, it will cost you EVERYTHING! The guys that rebuild these cars are the ones who not only want a bargain, they most likely are the same ones who neglect the hell out of them. You likely wont have any records on it, or they could be forged. A lot of the time there's hidden damage that goes unnoticed to someone until they drop the engine for a major...which btw, if you don't have any records, you can't simply trust it's been done...you better do one right away (figure about $7,000 minimum to yes, no joke as much as $20,000 depending on what's found...very common on a 355). And if you ever have to get out of it, it's going to be very difficult. Simply put, there is no cheap Ferrari. Most the time the one that's priced "right", is the one that costs you the most.

That's only one man's opinion of course and hey, I'm by no means trying to scare you out of your dream. I just want you to get the right one. They are out there I promise you!

Good luck in your search and with your purchase. The right one will no doubt change your life!

 

Honestly I'm getting a little tired of guys coming on this site and measuring the desirability of a car ONLY on it's cost, resale value or cost of maintenance.

A GOOD Ferrari is expensive to buy, expensive to maintain and, in the short run, a depreciating asset. A BAD Ferrari is cheap to buy, driven sparingly, maintenance is postponed or even avoided, and something you must continually make excuses for (Sorry the A/C doesn't work and the windows don't roll down). If you want a cheap sporty car buy a late 80's 911 for $15K- fun, looks great and cheap to maintain.

355's are incredible cars- and this is THE TIME to buy one- they are right at the bottom of their depreciation curve and are still a VERY contemporary car where, if you buy the right one, EVERYTHING in the car will work as new- windows, wipers, A/C, lighting etc...

Nothing worse than owning a fancy "Ferrari" but not feeling comfortable taking it on long trips or being stuck in traffic in August...

 

exactly,
great response Jay.

 

I bought a '97 F355 on a salvage title. Got it cheap. Did the repairs in '08. Did the much-feared $20K engine-out service in '09...

Loving it in '10.

There's something liberating about knowing that your car is NOT a collector's item - it just looks like one. You can drive it and not worry about a stone chip. You can put it on the race track. The Tubi-Hyperflow-Tubi exhaust absolutely sings to 9000 RPM. There is a very expensive aftermarket stereo that's been in the car since I got it...

...and it's never been on when the car is in motion. Not once.

No regrets here.

 

$20K engine out??

What needed replacing ... EVERYTHING??

The benefit of buying a slightly more expensive car is doing the Major for $8K and knowing it's ready for another 5 years of full throttle fun.

 

People that fix wrecks are not all hacks, thanks. Some are, some aren't. Just like some Ferrari drivers are snobs and some aren't. I say have the car checked out thoroughly and buy it if it checks out and you think the price is right.

 

I agree completely. If I tried to rationalize my decision based on what's cheaper to maintain and repair or what is more refined I would have just kept driving my LS430 and bought no Ferrari at all.

The car I really felt passionate about was the 355 GTS, so I bought a 355 GTS. A car like this is about wants not needs so why compromise. What I payed for the car was the upper end of the spectrum (69K) but I found value and convenience in the fact that the major and headers were just completed.

Personally I would only consider a salvage/rebuilt title car if it was going to be a stripped down all out race car. Otherwise it is just something that would bother me.

 

Heh heh. OK, the engine out really only cost me $7500. I did Tubi Headers even though my stock manifolds looked OK. Hyperflow Cats because my cats sounded like maracas when you shook them and did the valve guides just to be safe. Replaced the water pump. I also had to replace most of the underbody panels because of the high-performance car / low-performance driver event that caused the salvage title in the first place. Total bill was over $20K though.

 

not to turn this into a 348 vs 355 thread AGAIN...but the above info was grossly misleading against the 355 (yes I own one so I may be just a bit biased myself )

Stock performance isn't even close, the 355 has about 80 more hp and a largely bulletproof transmission.

Maintenance...bottom line, both are expensive. Yes there's the 355 headers (which can be replaced with lifetime guarantee aftermarkets for a few $k), but no mention of the weak 348 gearbox that runs $5k to repair? Did you forget about those Tony??

bottom line, the 355 is a more modern car with a slightly higher price now. Maintenance is nearly a wash for both as the engines have to come out for a belt change. The 348 DOES have a nice old school feel to it without the power steering....and in the end, hey ANY Ferrari in your garage brings a smile to your face

For sure do the PPI with engine compression, leakdown would be nice too. A record of valve guides being replaced is even better in a pre-1998 car.

good luck!

 

I may be wrong here but wouldn't it be much harder to sell a salvage title car? Will banks loan on it? Just something to think about if you don't plan to keep it.

 

+1
If re-sale is is very important, then I would definitely stay away from a salvage titled car. It's hard enough to sell a Ferrari in this economy, let alone one with a salvage title. On the other hand, I would buy it and run the hell out of it on a track, and not worry about re-sale.

 

I agree with these guys - the salvage title will make it difficult to sell.

You mention that you keep your cars for only a year or so - how could you possibly enjoy them with such a quick turn-around? To each his own, but I don't get it.....

 

You can lead a horse to water, but you can't make him drink it!

 

I bought a nsx one time that had a salvage title because i was looking for a cheap beater to drive to work and back. It took me forever to sell! I wouldn't even want to think how long it would take if it were a Ferrari. YIKES!

 

Please don't buy a Ferrari with a salvage title. It will be much more expensive to own than you think. When you get sick of the expense, the car will be hard to sell with a salvage title.

 

Very true. Also NO reputable dealer will ever take it in on trade!