Prospect of 348 Purchase?

Jeeze, what dealer are you going to??!! Show 'em this:

http://www.ferrarifl.com/service-specials.htm

 

Seattle, Wash.

 

So - potentially $14 THOUSAND for a major on one these? For a car that sells in the Mid to High $30's? Huh? That almost reneders the car worthless. There is no way it could cost that much. Noone would buy them. ??????

 

The purchase price of a Ferrari is merely the entrance fee. The average major for a 348 is $7000.00 if done correctly, $12-14,000.00 is correct for a F355. That's just the way it goes. If you think that is expensive, try not maintaining it and see the bill! You buy Ferrari's for the passion of driving them. They are not investments, reliable or anywhere near cost effective. Look around here for similar threads, you will see. Regardless of maintenance costs the sell like hot cakes to those who want them.

--Mike

 

Well, if you buy a 355 for mid-high 30's, you will CERTAINLY be paying at least that much right off the bat! With these horses, it is very wise to look a gift in the mouth.

 

I am like you, where I do not like the "pimp my ride" look, however the OP is looking for a bargain and may not care about the same things you and I do....the OP's primary concern should be whether or not it was serviced properly; the gimmicky paint in the engine area

 

http://cgi.ebay.com/ebaymotors/1990-Ferrari-348-TS-Cheapest-Around-Must-Sell-/230655667269?pt=US_Cars_Trucks&hash=item35b4262c45#ht_500wt_1182

what do you guys think of this one? sure it's salvage (theft recovery), but I might get it for a song factoring in my trade...

 

redacted

 

In looking at the market for a few years, Ive come to think that there are really two kinds of Ferrari.

The cars that trade over and over again and have seen possibly *no* service yet. And then the cars that rarely (if ever) trade, cost a ton more, have actually been maintained, and are "over priced" according to those who have no real clue.

I think the former set basically go from person to person who have that burning need to say "I GOT A FERRARI!!!!!!!!" and then pose with it for 100 or 200 miles. After a few years, the prospect of a catastrophic failure as belts continue to age unchanged, becomes terrifying so they unload it. Each time through the ringer it gets cheaper, so the level of buyer/owner slips downhill which means the trend is *more* likely to perpetuate.

Ive seen *many* cars where they had passed through 4+ owners each time with the person saying "JUST had a major 3000 miles ago!!!! NEEDS NOTHING!!!!" And of course the 3000 miles is also *9 years* and all 4 "baller on a budget" owners who have basically done nothing except *maybe* change oil.

I'd say proceed with *extreme* caution on cars like this. At the *very least* they will need an immediate *full* and comprehensive major at a really solid expert shop to make sure they aren't grenades.

 

Where did he get that shifter? Off of a 92 Pontiac Firebird?! :O

 

so, let me ask this. will the car run acceptably with deferred maintenance? or can it be rendered useless (ex -- timing service = engine replacement)? in other words, what are the consequences? how many cars out there do you really think have been maintained "by the book"? maybe 50%? that's probably a very high figure. yet, they keep running. or am I incorrect here?

 

I'm sure the adjustment is due to the color. I've seen a few green cars and I'm sure everyone on here has seen the 360 on eBay with green interior, it's literally been for sale for 6 months straight or longer, horrible. Both are pretty much sale proof examples strictly due to the color. That's my opinion anyway.

 

Running isn't really the problem. The car will "run" right up until it throws a timing belt or eats a piston or whatever. The time-sensitive things that can fail with catastrophic results are the issue. Purchasing a car that has not been properly maintained greatly increases your risk of having to dump 1/2 or more of your purchase price back into the car in order to KEEP it running. If you throw a timing belt or bearing you're probably looking at $25-30K of damage.

So yeah, they may run acceptably for a little while, but ultimately, the other shoe WILL fall, one way or another. If I bought a car that had been under-maintained, I wouldn't even turn it over until it had it's important limited-life components replaced.

 

+348, 100% correct. There is no way to get away with not doing belt service or many other services the cars require. It is something that you have to accept when buying a Ferrari.

--Mike

 

I've got a chance at another one here... $24k for a black/black '94 348 Spider w/ 40k on it. Says its all dandy except for the visibility on the plastic window in the top is bad (gotta replace the whole top, just the window, or isn't there some product that clears it up?). He will be replacing the clutch master or slave cylinder, can't remember which. He says the previous owner had it for a long time, had the timing service done at 37k, no receipts though... still, great price or what?

 

Look, honestly...there is NO free lunch with these cars. The major being done at 37k means NOTHING if it was done, say, 7 years ago. Without receipts or logs, it means even less.

I would run from such a deal until I pass out. Unless it is ratted out or has a salvage title, $24k is ridiculously low for a late production spider, even at *gasp* 40k miles. If you do go after it, though, get a FULL PPI and make sure you know what you're getting in to. It could be quite a bit more than just a major.

 

Mileage for the timing belts is ok, if it was done in the last 3 years. If not plan on a major right away. Also, if the car needs anything it will cost more than you think. Parts with age, like radiators, seals, clutches, bearing will sneak up on you and cost thousands. In the end you would be better off buying a no hassle, no story's 348 between $35-40,000 with some miles and good documented history. Don't take a chance on a twenty something thousand dollar car unless you are willing to put in the time and dollars. Trust me on this. If you want to drive this year, get a sorted car. Oh yes, as stated above, pay for a PPI, could save you from buying someone else s mess. Just my .02

 

I would be worried about a $24,000 Spider...

 

Why not go for this one:

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When I was looking for my 348 I saw a lot of 348's that were on the market due to the owner "not wanting to" / "did not have the cash" for the major. So the one I picked was one that looked like it had it the years before[service history], was well maintained(visual too) and not modified.

Bought it, drove it 60kms home and went for a major the day after. I priced the major into the purchase price. Piece of mind and never a worry.

I did not want a car that just had it. I wanted to have it done myself.

 

Maximos if you are serious about a 348 the Italian Gathering is coming up in Columbus over Labor Day weekend. I suggest you go there, there are several places here that specialize in Ferrari work and they will all be there. The person that put the show together Evans Automotive will be there.

http://italiangathering.com/

It is held at the Wendy's headquarters in Dublin. A few years ago the owner of a local Ferrari shop, NJB was selling a customized 348. I don't know if it is still for sale.

 

that sounds sweet! Sign me up

 

so, got a chance to ride in a F355 in Tampa today... holy ****. I know what I want. it was amazing... I couldn't get the dumb ear-to-ear grin off my face.

 

I get it - the ride in the 355 just confirmed that you should get a 348

 

Far out