Hi all - I have a line on a 1990 Ferrari 348ts through a friend of a friend, being liquidated from a small private collection. Although I've never owned a Ferrari, I've had a few other exotic and sports cars (Lotus Esprits, Porsches, etc.) so I'm not entirely unfamiliar with the overall ownership experience, just wondering if there is anything in particular that I should steer clear of or look for. This particular example is being offered to me for $29k (a 'friend' price), which seems like a bit of a bargain. It's red with tan leather, in very good condition overall, with most of the records from new. Third owner with about 25,000 miles. Any red flags to look out for with this year/model? What kind of regular maintenance bills would I be looking at here if I drove it like 5,000 miles a year? I'm going to have a mechanic look at it of course, but just curious as to what other owners think.
Just review the service records. Note when the last major service was and if it isn't in the past 5 years, figure about $5K on top of the price. These cars are generally pretty bullet proof but being older now are suffering from worn out parts. Electrical stuff is a pain when it starts to fail and Italian electronics are not exactly dependable. Just make sure everything works and have the car checked out at a good independent Ferrari shop. This is an early model so unless it was upgraded along the ownership there may be some of those older issues coming up. Search this area for general items, spend some time researching here and you will get up to speed pretty quickly.
You might want to learn something about what you are letting yourself in for by either looking for similar threads here or digesting www.my348,com
A $29,000 348 is going to cost a fortune. These are engine out cars for their belt services every 3 years regardless of miles. Plus, these cars need valve adjustments unlike the F355. They are cool cars but just be prepared for lots of maintenance. If it is nice and a Ferrari expert does a full PPI, then enjoy it. Don't have just any mechanic look it over. Find someone who know 348 cars, they'll know the weak spots to pay extra attention. Good luck.
MISINFORMATION ALERT! 1. Forget the 3 year belt schedule - it's 5 for anyone who knows better or doesn't abuse/race their cars (FBB you know who u r) 2. The low mileage means nothing good or bad without more information on history and service. 3. The valve adjustment is part of the service and really is not a great concern. In fact mine didn't need it last time the car went in. However, above all, do get a PPI from someone with experience on these cars, that is true.
Price you get it for has NOTHING to do with cost of ownership. Vehicle condition is obvious has the direct impact. Sometimes the condition has very little to do with the price offered. Especially in this economy. They don't need the service every 3 years. Ferrari of North America are a bunch of crooks and can blow themselves. The 3 year thing is a recent attempt to get people into their service bays at their dealerships for costly engine out services. If you look at MOST Ferrari service guides out there, they will say 5 years or 30k. FoNA just recently came out with the 3 year 15k to scare owners and line their pockets. Again, they can BLOW themselves. Not to get into a belt debate but a friend ran his TR to 100k miles before changing his belt. A Regional FCA President had done 50k and 7 years on his 355 without a belt change. 348s don't cost a lot at all. Mine cost me maybe $200 in the two years I owned it. Those were for O2 sensors that would foul and throw codes. No biggie. $45 bucks each. Tell your friend I would be VERY interested in buying his 348 in a few weeks at $29k if things look even average. I am expecting to have to do a service. Usually "estate cars" have sat for a bit as the owner usually has been ill for awhile but are in pristine condition.
Service history is a good place to start. There are hundreds of threads on this topic, use the search feature and you will find a lot of valuable advice.
Just buy it and drive it like ya stole it! It's the best chance you'll ever have to own a Ferrari-----and once in your life, you must!
Ditto! The only main concern about a 90 model is the timing auxilary shaft bearings in the front engine cover. Ferrari had an upgrade bulletin to replace them. Check the records and make sure that has been done. The main thing different about these cars from others you note you have owned is the engine out service (5 yrs is way good enough IMO). If you are mechanically inclined buy a lift and do it yourself - about 2 grand for 30K service parts and you are good to go, otherwise about 5K-7K for an engine out. If you have to have the front bearing thing done that is probably an extra grand. Buy it!
Hi Thom77, welcome to the chat ! My opinion of things to look when checking a 348 ... Definitely, major service, and if on the last the water pump was not replaced, then add another $1600 at least on top of the bill ... from a Ferrari dealer you could be looking close to 10K when all is set and done. I was quoted $7.200 + taxes without the pump. About 3 to 5 years service intervals, yes I agree depending on how you drive. More than that ... NO ! I heard of broken belts and consequently big money ! Check how many miles are on the clutch, at 25.000 miles i doubt that, but the car could still have the original. More things to check are the throw out bearing and transmission in general (whiny noises). Transmission failure happens on a 348. Check for the condition of the interiors, sticky vents, center console, AC buttons getting stuck, extremely slow windows, side view mirrors not moving and so on. I do know one thing thought ... there is not such a thing of a cheap Ferrari, you almost always pay in one way or another but you could really be a lucky guy and get a well sorted out 348. To absolutely make sure, GET A PPI done ...... definitely !
Thanks so much for all the great info everyone, I really appreciate it. I have an appointment to take a look at the car in person on Tuesday, and I'll have a chance to drive it as well. If all looks good from there I'll arrange a PPI for later in the week. A few people have mentioned that I should steer clear of the Ferrari dealerships... so could anyone recommend a capable mechanic in the NYC/Long Island area that I can trust for this kind of inspection?
Try Bradan., a sponsor on here. Or post this question in the NY area on other shops Roberto knows his stuff and gave you very accurate info. GET DAVE HELM"S GOLD KIT ASAP, if it doesn't have it already Good Luck
Bill are you looking for another 348? Your old one is at my shop for some small stuff and I'm about ready to let mine go too.
