Which used car should I buy?

I'm gonna have to say a 6 speed manual 550 Maranello. You'll even have a chunk of change left from that $100k. Bullet proof, comfortable, low maintenance costs ...

That said, what do you like?? I'm a firm believer that buying a Ferrari really ought to be an emotional decision. There's nothing rational about it - let's be honest, you're not buying it as basic transportation - it's a toy! Get what makes your heart beat a bit faster.

 

The very first thing you need to do is figure out if you like modern, classic, or vintage cars.
Its very important.

 

The newer the less costly it seems the maintenance is.

550 if you want a V12 grand tourer.

360 if you want that supercar mid engine feel.

I prefer the true manual gated shifter over the F1's, plus it seems like less to go wrong.

The mid engined cars older than a 360 (355 348 ect...) seem to cost a ton in maintenance. However I think the 355 is one of the best looking cars to come out of the factory.

 

550 from everything I've been told.

 

True, but higher parts/repair costs seem to be part of the newer cars.

The 328 was simple and cheap, but needs a timing belt service every 3 years. ($2000 and up). You can spend more than that on a 355 F1 reversing switch or one 360 headlamp cover.

Below $100K, I'd probably look for a 328 in the $50K-$70K range for a relatively trouble free sports car, and a 550 in the $60K-$80K range for a grand tourer.

With regard to costs, this article gives an insider's look at the costs associated with a perfect, low mile 575 as it changed hands: http://www.ferraris-online.com/pages/article.php?reqart=SCM_200907_SS

Also, as Glassman said, you need to decide whether you want a raw sports car (308/328), luxury sports car (360) or grand tourer (550/575). For every day use, I like the 550. For a weekend adrenalin rush, the 328. For a more comfortable ride and better amenities, the 360.

Also also, aesthetics are up to you. Ferrari styling has been hit or miss over the last 20 years, and the really old ones are going to be far above your price range. So buy what you like.

 

Great question you've posted.

I own a 550 so I agree with what others have said about it. It is a great car and you can get a nice one for about $70k To $75k these days.

However, the first Ferrari I owned was a 1988 328 GTS. I, like you, was very concerned about maintenance and total cost of ownership. A 328 is a great car, especially the 88 and 89 model years. Do not confuse the age of a Ferrari with "how old it is". Some of the 328's on the market will have less than 35k miles on them and if well maintained will be in great shape. You can buy a very nice one for $45k to $55k and maintenance will likely average less than $3k per year over the next 5 years. And you'll likely be able to sell it for close to what you pay for it 5 years from now. A 328 has classic Ferrari styling and 270 hp which goes well through the curvy mountain roads.

As far as buying a 360, I'd consider spending a little more than your budget limit and get a 430 instead. The 430 maintenance will be less in the long run and you might even find one of the stick-shift 430's out there.

Good luck.

 

360. Good price point (< $100 K), reasonably reliable, comfort, looks. Just be aware of maintenance. I think people who keep records allow $1 mile for maintenance. Add $10K a year depreciation plus gas, insurance and cost of funds if financed.

As for the maintenance, some years are just fluids (a few hundred dollars), some years are belts (additinal $2 grand), and sometimes if you are unlucky an expensive part might go (cpu, clutch, etc) You have got to be able to grin if the dealer says it will cost a few thousand to make her right this time.

 

Unless you are a do-it yourselfer, no modern Ferrari is really going to be "economical" in a normal sense to maintain. That includes the 550, and yes, I've owned one for about 10 years now. You really have to be honest with yourself as to how much you are willing to spend on the car over a 5 year period-
and how much is prudent considering your own financial situation.

A general statement about a particular Ferrari being "bulletproof" needs to be buttressed by hard data on what they actually cost to maintain for an extended period of time. These are not inexpensive cars, but many of us find the costs reasonable considering the pleasure we obtain from driving them and having them in our garages.

Unless, and even if, these cars are meticulously maintained, after a few years you could easily find a 10-15K repair bill for what might seem to be a minor idiot light malfunction. Even well maintained cars have the potential to become painful unexpectedly, with 12K repair bills seeming to come out of nowhere. Is it likely? Who knows as the sample size remains small. But there are enough bad things happening to multiple good cars to be cautious. Yes, parts are that expensive- and I've got the bills to prove it!

Plus, there are the unexpected, little things that always seem to popping up after a couple of years. The shrinking leather dash even though the car is always parked inside (4-6K depending upon the shop), the acutuator that goes out along with the associated ECU ($2300-$2800 in parts alone, depending upon the source), the engine mounts that may need to be replaced, the shocks, etc. Each one of these repairs, when coupled with the yearly maintenance and periodic maintenance (3-5 year intervals) can cost thousands.

Don't get me wrong: I love these cars and plan on passing mine onto one of my sons. But it's essential that you have a realistic idea of what it is you're getting into. And the only way to do that is to talk to multiple owners who have had their cars and maintained them for some years.

This Board is a great resource and like all things internet, it's up to you to provide the appropriate filters to the information that's offered. Just know what you're getting into: take your time and become an informed buyer.

All the best and happy hunting if you decide to go forward. Oh, and get some driving time in on the cars you are thinking about buying.

 

I have own several and for the last 20 years I have always had one and as a daily driver. From my experience, true and tried, a F430 manual shifter without the carbon ceramic brakes is the cheapest Ferrari to own, period.

If I were you a 2005 or 2006 example would be perfect. Some nice cars can be found from $115k to $130k, sure those might have around fifteen thousand miles, but if there were any glitches to pop up those were taken care of by now.

 

Cam belts (timing belts) are every five years and not every three. In the 328 the services are in intervals of every fifteen thousand miles. The first is at fifteen thousand miles which is the minor service and the second is the major service at thirty thousand miles or every five years; from there on one is to follow those intervals.

 

a) 1984 512 BBi
b) 2003 360 Spider

and just for fun.........

c) 1970 Porsche 911S - and for $100k, you can find a great car and take a vacation to Europe.

 

Ferrari says every three, but opinions vary.

If the OP plans to drive 5000 miles annually, that would also be three years.

Option C is an inspired one, although the really high end restored or low mileage original 911S are already near or above $100K. But a great driver would be well within it, maintainable anywhere at reasonable cost.

Modified to RS spec, the 2.4 litre engines of '72-'73 will run with anything Ferrari made well into the 1990s.

Then when you're done in a few years you can sell the Porsche and buy a couple of 360 coupes.

 

I also vote 360 or 550. A stick would be a bit easier on maintenance.

 

If I were looking for something to put a smile on my face and to run a few thousand miles per year I would take the 70's 911S option first, no questions asked. No reason to fight maintenance or unexpected repair bills just to have Ferrari badge on a $100k budget. If I were to go Ferrari, I would have a serious talk with myself and commit to the passion by purchasing a 512 BB/BBi or 246 and spend a little more but get more out of the experience. The 360 Spider option works for the budget and puts a Ferrari in the garage but IMO doesn't compare to the 512/246 experience.

 

My previous post I forgot to mention I'm an absolute do it your selfer being an ASE Master tech and can do anything to a car from changing a tire to complete restorations including body and paint work along with engine and transmission rebuilds and pretty darn good with electronics I forget sometimes others can't do these things.

But since the OP is retiring well stock up on tools and build a nice garage to go with the Ferrari and learn to do all the work yourself.

 

A brilliant post, because I agree with all of it. The 512 and 246 GTS are high on my own want list for my next Ferrari.

Especially for a do-it-yourselfer, a classic car is the best kind of used car.

 

Hey man it's never to late to learn. I rebuilt my first engine at age 12 (1963 Buick Riviera with the 401 in it advertised as the 465 Wildcat engine).

I don't know I love working on cars when they are mine, and when not getting paid for it (not a mechanic any more gave it up years ago but still keep my certs up).

 

Hi Bob!!

First - welcome to FChat - you will NOT find a better or more knowledgable Ferrari Forum around than you will find here.

I would like to raise the point of the 308/328. These cars can be had for well below $50k at this point. Factor in service and maintenance and for the $100k you have budgeted you could keep it running for YEARS with little or no depreciation. The 430s are on the way down pricewise, so there is still a lot of depreciation left in them. The 308/328 is very stable and a great way to park money safely. They are arguably among the best looking Ferraris ever built. No, they dont have the power of the 360/430 crowd, but they are plenty quick and unless you are going to be tracking the car it wont make a bit of difference in traffic. The sound and experience of driving one is simply fantastic.

As with any Ferrari there are limited supplies of parts and those that you do find are going to be expensive, but you can do a whole lot with a 308/328 and $100k that you could not do with one of the newer cars and they WILL be less to maintain.


Just my .02



PDG
1985 308 GTS QV owner

 

That's for the 360 and for the 355 depending on what side of the Atlantic the car is, but the 360 here in the U.S. is every three years. The USA model 328gts/gtb is every three years as stated in it's service booklet that comes with the car. Even the Testarossa is every five years... The three year started happening once engines didn't need to come out of their cars to have the timing belts changed, funny... Easy to see why now dealers want to cut this intervals, $$$ is what they want.

 

Drive one (or two or three) examples of your first choices, and then make a decision. I think the driving experience will be vastly different for all of the cars mentioned here.

Keep us posted on what you decide, and your impressions of test drives.