Sub $50K F355's advise needed

I am looking at a Silver/Blue '95 F355 Spider 6 spd, priced just below $45K. Car has 35,000 miles. Could this be a good value or should I run? I would get a PPI of course but what do you guys here think?

Here is language from the ad:

"It has had its major service of timing belts and the like done at 31,800 miles, along with a clutch replacement. Other common F355 maladies were addressed earlier, such as the A/C system, heating ECU, and seat/convertible top sync motors. Its tires are new, its paint is stunning in its condition, and it has an accident-free CARFAX report. Other work carried out over the years included total reworking of the leather seats (which are prone to heat-shrinkage and hardening); other areas of concern common to this model such as exhaust headers and the like have also been addressed. Additionally, it boasts a great custom Sony sound system. Also important, this car has been driven on a regular basis, unlike some garage-queens that succumb to dry rot of hoses, wiring, and seals."

Thanks for any advice, this would be my first Ferrari. I currently own a 930.

 

Until you see proof (receipts) of all the work that has been claimed, it is merely a nicely written ad. I would make sure you have the PPI, copies of the all the receipts, and a Carfax.

 

....?


Drinking already this morning, Labby?

 

Wow Blampee...you are rough! Screwed up. Here it goes again.
I bought my '98 355 F1 Spider w 33k miles for $41k. It needed a major, top was not working, AC not working, needed seat pots and had many hoses that were dry rotted and needed to be replaced. All this was found during the PPI. Cost roughly $10k...$7k of which the dealer picked up. Then after I had it a few months, more money was put in due to a bad throwout bearing, clutch was replaced, a few fluid leaks, ripped axle boot and needed the front bumper to be repaired/repainted and some other things that I decided to replace or repair. Most of these were not found during the PPI. So I put in an additional $6k or so. PPI's are good but plan on finding a few more things that were not found during the PPI (and there will be a few!). Curious to see what they mean when they say the headers were "addressed". Does that mean they were fixed or replaced. If they were fixed that means you will eventually need new ones. > $5k or more. Good luck and keep us posted!

 

I would be concerned about the statement that drying out and shrinking of the leather seats is common. IT is not common.

It may be common if a negligent owner just lets the car sit out in the hot sun constantly.
Actually dash shrinkage is more common in the sun belt.

I would be leery of this car.

 

It's reasonable to assume that a 355 will likely need $10K+ in needed repairs/upgrades unless it is absolutely proven otherwise.

The term "addressed" means nothing. Probably the headers were looked at and they look "okay" for now.

 

Oh come on now...

It is RIDICULOUSLY common- IN fact EVERY single ferraris will have the leather shrink at some point- on some cars it means replacing the leather, on others the OEM leather can be conditioned and saved. Leather dries out and shrinks- Sure some owners bathe their leather in leatherique every year and that forestalls the inevitable.

Why is everyone SO AFRAID of these cars? Got a car you like at a good price- BUY IT. Now you've got some money in the bank to fix the stuff that needs fixing. I am always happy to pay more money to have something fixed under my watch, rather than assume a car is "Fixed" because the PO addressed something 5 years ago.

 

+1.

On the surface, it doesn't sound like a bad car at all & a reasonable asking price. The fact that it had a major 4-5k miles ago means nothing...that could have been in 2003 for all you know (which means it's now overdue).

Get the PPI done and make sure a compression and leakdown test are done. Pay particular attention to the leakdown results. Anything over 10% in a cylinder would make me walk away b/c you are staring at a very expensive repair bill eventually.

 

The good news is that as time goes on more and more 355s will have most of the issues fixed or addressed with aftermarket items. Also you will see less and less neglected cars. At one point people said the same thing about 250s and Daytonas, and they picked them up for next to nothing since people ran them into the ground. But try and find the bargain or neglected Daytona now.

I'm already starting to see more and more 355s coming up at auctions with a lot of things fixed that people always use as an excuse to not buy one. Like Hyperflow Cats, coated headers, and other lifetime fixes.

Forums like this have made it easy to find cheap ways to get things done that at one time were very expensive. Just last month I put on some CV boots from a Porsche that cost me 40 bucks and will probably last 10 times longer than OEM. Ferrari wanted 1400. Thanks to whoever made that post.

My 2 cents.

 

I spoke to the seller today, and unfortunately he sold the car. He said he got 6 calls on it Friday the day he listed it, and it sold on Saturday. I hope the buyer got a great car at a great price. If anyone else knows of a well sorted F355 for $45K please let me know.

 

I must chime in here and tell you that you are looking for your spider at the precise time that
they go up in price in time for summer. As for "what are you afraid of?" I would check out the cost of a new set of connecting rods instead of new leather seats. And why would you ever buy what someone else didn't take care of? These cars are alot of fun but sinking $20,000.00
into a "new" car is not my idea of fun or a good deal. Wait till next winter and find a car you can afford. It may not be a 355....