F355 for a first Ferrari

If you are having trouble purchasing a 355 you need to be aware of the ownership costs.

Routine maintenance can be staggering. figure a minimum of $10k for a belt service plus all else a quality shop will discover.

Also don't skimp on the PPI. You need to know the condition of the car going in to minimize the $urprises.

good luck.

 

I absolutely love 355s, but I am glad I did not step into one as a first Ferrari. I am sure there are those here who have, but it wasn't for me. The price of admission for a 355 seems to be the most reasonable part of the deal. Exhaust manifolds all fail and replacing with Tubi units is a must. Same can be said for the valve guides. I believe we have seen 355s which had bad guides which were negleted and in doing so essentially shot the entire motor. The major service on these cars require the engine subframe to drop down and having this performed is quite the pricey affair as well. For someone like me who wrenches on his own cars it's no huge deal, but the manifolds and head issues have steered me clear from 355s for some reason.

Figure $5-$7k for exhaust manifolds if it hasn't been done, and expect in the future a $15k+ major with valve guides and other head work. The head work alone is $5k.

That being said, I will own a 355 but I am not bored with my early 308 yet. For a little more, the 360 is a far less pricey car to maintain (services are all engine-in and about 1/4 the cost), but not nearly as pretty and it is definitely missing something in the character department compared to the 355. Mark my words though, you are in 360+ territory by the time you poney up for the first major service on a 355.

 

I've had my F355 for around 5 months now. It was a well sorted out, but an exhaust manifold replacement reared it's ugly head. A remanufactured OEM exhaust manifold may be around $1800.00 or so. I would recommend like others not to get OEM again if both have to be replaced (which would be closer to $5K each). I had worked out a deal with dealer, so had to go with an OEM. Other than that, an O2 sensor was changed out. I used Standard Automotive brand O2 sensor and it works great. It was $40 compared to ~$300 from the dealer. Other items were mainly just me wanting the car to be more pristine: stickies, wheels and seats were refinished. In the past 4 months since gettting the exhaust manifold and O2 sensor replaced, it has been running like a champ. If you go to a good independant, starting price for a major would be around $5500.00, but at the dealer would be closer to $11,000.00. I am up for a timing belt change around Summer 2012. Engine Oil changes may be around $300.00 a year. Buying parts from Ricambi, FerrParts and eBay will save you some bucks.

 

My 355 was my third Ferrari- Yes I absolutely think a good LATE MODEL (98-99) or exceptionally well maintained earlier model is a fantastic first ferrari. A later 355 should not have the valve guide/header issues to deal with and at least from my personal experience- the car has been absolutely robust and reliable.

If you want the cheapest to buy and cheapest to run- don't bother with a 348/355... But a good 355 is a tremendous car. The 308/328s are usually the best car to get involved. with the Ferrari brand if you are willing and able to do some of the more routine maintenance tasks yourself.

According to where you live a major Service on a 355 with belts and tensioners can be had, off season, for under $6k- if you stick to the 5-ish year plan which many of us do that's not a lot per year to drive one of the best cars every made.

 

The 360 is as expensive to own as the F355. It has many of the same problems. While it does not require an engine-out for a cam belt change, just wait till it need a clutch change. In any event, NO Ferrari is an inexpensive car to own. If you want to play, you have to pay.

 

Just buy it and worry about how much it costs to run afterwards..........honestly, it's a bit like marrying the prettiest girl in town, walking down the aisle worrying if she's going to divorce you!!! Sure she might cost you a few thousand over the next few years but you'll always look back and remeber that feeling..............

 

I think if you can find one that has the headers replaced, valve guides replaced and has recently had it's major, you should be in good shape. Make sure it has a service history.

 

The HVAC door has a tendency to stop opening due to a poor design for the motor connection to the door. Mine is currently left in the open position (fresh air) since I didn't feel it was cost effective at this time to troubleshoot since the issue isn't the relay, motor or door connection. Leaving the door open affects AC operation, but better than breathing the variety of funky smells that the F355 puts out.

 

+1 This is good advice.

 

The biggest thing to worry about when buying one of these babies is knowing a good mechanic to work on it. Not just the guy who works on a GM or a Ford but someone who knows the 355 inside out and can tell you just by the way it is idling if the engine is ok. The engine out service is 27 hours plus your parts and fluids. The sound of the 355 will never be replicated again. It comes from the 5 valves. The 355 not only sounds amazing but drives like a dream.

 

You just need to replace the plastic connector that holds the door open with one of Hill Engineering metal units (done). It should only take you about 15 minutes to do it.

http://www.ricambiamerica.com/product_info.php?cPath=600_100040&products_id=261210

 

It currently is not getting power to the HVAC motor per the shop. They replaced the servo and relay. The connection to the door they say is fine. I haven't looked into the 'hidden fuse' yet. Thanks for the info. If I can get some time to get in there to check the fuse, I should replace the part you mentioned with the Hills Engineering as a preventative measure.

 

I think the F355 epitomizes the essence of Ferrari ownership. All the pleasure and all the pain rolled up into one exquisite package. Come join our club of lunatics. You too can post up all kinds of technical questions and beautiful pictures of your Ferrari in scenic places.

 

Great post Scott.

Where you save in one area on one particular model, you make up for it in another area.

Ernie posted in a different thread that the 348/355 need the engine's out for the belt service while the 360 does not. However, the 360 needs the entire gear box taken out for a clutch job, whereas the 348/355 is a very simple and quick clutch job.

 

Spot on! Once these things are taken care of you should have smooth sailing other than the majors services. My 355 was my first Ferrari and I've loved every minute. There is nothing that sounds better than a 355 at 8,000 RPM.....nothing.

My only advice is to listen to guys that actually own one or have owned one in the past. I see lots of posts from people that have never owned one and based their input on things they've learned from the web....enough said. Nice enough guys but there is no substitute for living with one of these cars. There are plenty of owners here that will help keep you out of trouble.

 

I've been lucky with mine, a 97 Spider. Two years in and I am very happy with it.

It did not have complete service records, but the ones that it did have helped me see that some of the big concerns had been addressed. I don't recall now, I think exhaust manifolds, maybe a clutch.

So previous owners had sorted some of the problems. The PPI that was done was by a member of this board, and he did an amazing job.

Finally, I have been lucky and virtually nothing has gone wrong. A bearing went, but it was a minor repair. I have repaired an ECU problem, and replaced hydraulic fluid for the convertible roof, both of those I did with the help of FChat posts. And it really helped me to learn about the car, and see that they are relatively easy to work on. And I'm far from a mechanic.

The nice thing is that prices have come down. Make sure you look in the FerrariAds section of this forum. Some of the cars that are posted there have been talked about on the forum, so you can see what issues they have dealt with. I think there is a gorgeous gold 355 on their now. I've posted a picture below. I have no connection with the owner, don't know if it is a good car, but it's nice.

Mine was a driver, not a show car. For the money I spent you can now get a much more pristine example. Also it will help your piece of mind if you can set aside at least 5K as a buffer for any problems.

My car is a normal transmission, not the F1, and that also makes me rest a bit easier. I would love to have the paddles. But when I was looking, my feeling was that either version would have it's benefits. The classic gated shifter for my first Ferrari. Or the first production car with paddles, but with some worries about the complicated system causing problems.
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F355 was my first Ferrari and I wouldn't have had it any other way. Buy it right, treat it right and you will never be sorry.

The sights and sounds of this Ferrari will never be replicated again.

- Ferrari long abandoned the 5 valves per cylinder engine architecture.
- The government nannies have long banned pop-up headlights and more recently the wedge shaped front ends - both of which contribute to the classic beautiful lines of the F355.

 

+1 I knew the previous owner of my 1997 355 GTS since 2001 and I have had it since Sept 2007. I have done one major service on it that was very reasonable in cost. The Heads and Valve guides were done by the previous owner. The manifolds are still good and they are the stock ones! I will change them when needed with non OEM ones. Good luck with your first Ferrari purchase, its a lot of fun Oh, I forgot the 355 was my 3rd Ferrari experience, my first was a 328 GTS, second a 348tb.

 

The 355 is my first (and hopefully not my last) Ferrari. I have always wanted a Ferrari ever since I was a little kid. The feeling that you get whenever you drive your Ferrari is hard to describe. Like others have said, look for a car that has the service records. Also check that a major was performed on it and not just a belt change.

Recently I took my car into my mechanic for the major service. The winter special for the major was $5K (not bad at all) so I was fully prepared. Once the engine came out, there were the usual seals that needed to be replaced (no big deal). Then the header issue showed up. They were in extermely bad shape so they needed to be replaced. Since the headers were bad, it destroyed the cats as well. Since I live in an area that does not have emissions, I decided to go with a straight pipe with the fix for the second O2 sensor. I also had a small crack in one of the radiators so that needed to be replaced. The top stopped working as well so the pot under the seat needed to be replaced. All was going well and I was ready to go and get my car ($13K). I went to speak to the mechanic and he had additional bad news. I had extemely low compression on the no. 7 cylinder. The best cylinder was no. 4 and it had about 70% compression. So now the headers were being shipped to Florida (a guy who works on Ferrari race engines will be taking care of them) and the valve guides are being done. I am waiting to hear if there was any valve damage but my mechanic is pretty sure that there shouldn't be any. My mechanic also worked for Ferrari NA in Englewood, NJ and is extremely knowledgeable about these cars. I am now over $22K and hopefully will be picking up my car in about 2 weeks. I was told that it will drive like a different car.

When I got the car, I had the service records and all looked good but these are the things that need to be checked. For my next Ferrari, I will be more careful and picky about my purchase.

Good luck and let us know your decision.

Shawn

 

Purchase the best car you can afford. Try not to let your emotions get in the way when looking at a car that is looking good to you. Get to know the experts in your area and get the best person for the pre-purchase inspection. Low mile or high miles, the service records will tell the story on the car. If no or sketchy records, don't walk away, run. There are more and more cars coming onto the market so you can afford to be discriminating on which car to buy. During the inspection process, get the car on a lift. Look for the spots where it's had contact with mother earth. This will speak volumes on how the car has been driven. Take the belly pans off and take a good look at all the components that are hidden. Have the cooling hoses been leaking, power steering, heater, etc. Your PPI guy will lead you in the right direction. Also, for what it's worth, you should be with the fellow doing the PPI and he should not be hesitant to show you all the good and not so good during the inspection. Plan on spending the day with your inspector and take a ton of pictures/notes. You have decided to buy a Ferrari and a 355 at that. It's too late to tell you not to buy with your heart, just be sure to use your head too. DJ.

 

+355

Me too.

 

My first Ferrari was and is a '97 F355 GTB and I couldn't be happier. I have owned it for a little over 2 years and so far I have done the yearly services (oil change/bleed brakes/clutch, so on) and I have replaced the headers (one burned out last summer). It will need a major in a year or so since the last major was done a year before I purchased it. Other then the headers, the car has been trouble free and a joy to own. My advise is, take your time, buy the best car you can find, make sure it has great service history and have a PPI done. In my experiance the maintance costs are on par with other cars of the same caliber. As a matter of fact, I just did the yearly on my F355 and V8 Vantage and the cost was within $50 of each other. I think the F355 is a great choice as your first Ferrari. Go for it!

 

Asking this question in the 355 section is like asking a Lion Tamer if it's safe to go into the cage wearing a meat suit.
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