Should I buy 355 with no records

Very true....

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The car in question just passed $42,500 and the reserve is not met.

IMHO, that's too high given the history (or lack there of) on the car.

Time to move on.......

 

Too risky for me personally, especially when for not too much more $$ you can find a documented car...It is a great looking car though....

 

IMO a classic Ferrari 308/328 may be okay if it's attractively priced with a thorough PPI, but a 355 without records you gotta be nuts to buy it sight unseen. There are so many things that can go bad and you can easily be looking at a 5 figure repair bill. I just went through a "355 shopping exercise" in March and now I understand (and appreciate) why a clean car usually command a healthy premium.

The most expensive Ferrari is a cheap Ferrari.

 

I dissagre that "The most expensive ferrari is a cheap ferrari". Their are some great buying opportunities right now, that did not exist 5 years ago. You can find really good cars for a far price, don't let the records be the determining factor. I purchased my 355 F1 to boot without even viewing the car. The deal was far, it checked out by the mechanics. But trust me, if you follow the saying "the most expensive ferrari is a cheap ferrari." You will be paying a premium for not only every car you buy, but also any ferrari you purchase. I would rather pay 42g for a 355, then 60 with one with records. Simply because as I was looking for my 355, I came accross records that did not make sense, and the crap from the salesman got me sick, even if they are kind. If you think the 60g 355 will not break down, then your situation is more to do with risk. Most people buy new cars for 60g because of risk it will break down, and need the warranty. I myself would rather buy a used version with 25,000 miles on the car, and buy from an original owner for 20g. If a dealership would give me the option not having any warranty on the car and taking 20g on the price I would do it. But they will not, because a warranty cost them nothing, and removing the risk from the customer is were they make their margin.

 

I have a 98 355 that I have owned for 9 years and was not new to Ferrari ownership when I bought it. They are wonderful cars but without a doubt,expensive to maintain. I would not buy a 355 until I was satisfied that it was carefully inspected with a report in writing from a well recommended party and figured in the purchase price a major engine out service and for the F1 gearbox. As others have said you may need exhaust headers and valve guides-I did. You should assume that if there are no service records, it is because no service has been done. that might not be the case. A GTS is desirable and the yellow color is also.

Bottom line is better safe than sorry. I wish you well.

 

Take a look at this http://cgi.ebay.com/ebaymotors/97-F355-SPIDER-6SPD-CHALLENGE-GRILLE-SERV-HIST-TUBI-/280787083520?pt=US_Cars_Trucks&hash=item416036e100

Scroll down to the picture and click through and look at the service record from April, 08. Three months and $48K later the owner got his car back. And that was after an $8k discount on parts and labor. 3 years and 5k miles later the car is being sold for $49.9k. Apparently the owner complained of a miss. Turned out to be a broken header and scored liner, and while it is a 97, apparently had old style valve guides too.

But what I would like to know is that I don't see a left header in the parts list. Only a right is listed. Perhaps the left was not replaced and it broke and now the car may be in need of another $48k service? Joking, but the though crossoed my mind, and if Ferrari headers are still n the car I guess they should be replaced.)

Anyway, I've always wanted a 355 to add to my 308 but I haven't pulled the triger. Haven't found the right car for the right money. But I also feel the 355 are like bank vaults with a time bomb in them. You know the bomb may go off. It's just a matter of when and how much money it will take with it.

 

48k service on a car worth 48k.

Ok I will say it. WTF

 

If that had been my car I think when I got the bill I would have said, "Good luck. Here's the tittle." Makes me wonder why there isn't a small block Chevy conversion for a 355.

 

This may have been covered before: Carfax is just a starting point, many (important) things could be overlooked or just not available for carfax to see or report. Not all accidents are reported, just as one example. If you like the car, get it thoroughly inspected and go from there. You will have to spend travel and inspection money to find a good car.

 

I think what you ment to say is that carfax means nothing at all! Carfax only reports what is reported, so If nothing was reported by Police or insurance then its not reported and IT will not be on a carfax.

It can be a tool but don't rely on it.

Now if a owner can pay a body shop to fix a car again no report, repair shops do not report car repairs to the DMV.

 

From what I can gather, they really aren't. They just cost 10x any other car to have fixed. Exhaust manifolds on any other car are $400, on a 355 $4k. Valve job on a normal car is a grand, on a 355 $10k. You get the picture. You can save yourself a ton doing your own wrenching and looking for some alternatives, but if you're a drop it at the mechanic and forget about kind of guy, you have to be prepared to pay.

Good luck with the car. Pay in person after a thorough inspection and test drive. Don't send the money before hand.

 

Did you buy it at the winning bid, $45,000?

 

Congratulations & enjoy assuming it all works out for you

 

+1

Had a FULL PPI done one my 355 when I bought it in 355.......

I spent about $20k over the first two years with a major, and replacing everything that went bad....

I figured I'd spend $10k....

So....Was it worth it...? I now have a perfectly running almost 30k-mile 355.

No CELs or problems in over a year. And I have put 11k miles on her in the 3 years I have had her.

 

Congrats, its a good looking car. Looking forward to hearing about your experiences with it!

 

Congrats! If the 355 was serviced at Ferrari dealers you possibly can get the service history. Review the Carfax for locations over the years. Request the records from the local dealer. They will require proof of ownership before they will send you anything. Any personal info will be blanked out on the records provided. Worked well for my purchase a couple of years ago. Good Luck!

 

Service records reveal only what has been done to the car...not what has been avoided... it could be as little as a few oil changes in the course of 27,000 miles and the requisite maintainance checks

Service records reveal nothing about how the car was operated or cared for while in use... the car could have been "run hard and put away wet" yet have all the service points properly taken care of. Ferrari are good cars and hold up well when not abused.

Only a personal inspection ( or agent ) with appropriate mechanical review can determine the current condition.

If the car passes inspection to your satisfaction, use the lack of records as a tool to negotiate a better deal, as good record keeping is considered as part of the value in a car. A good, well cared for car will stand out, with or without service records.

 

You bought well, IMHO. You bought at a price where you can pay for an immedeate major, headers and valve guides, and have a well sorted car that you can take out and thrash with confidence. Rock on!

 

Oh, and by the way, steer well clear of the stealerships, and find a reputable F-car mechanic who will charge a reasonable shop rate, and who will use your parts that you buy from Ricambi and Fabspeed!

 

Close, but not exact. If you had records to show it had a new F1 pump recently or a new clutch or a major service what was replaced or repaired, that does help in knowing a lot about the condition of the car. A PPI is not going to spot everything.

Without that, everything is a mystery. Some important things may have actually been fixed or replaced but you have to assume nothing has. That's the problem and that's why the value is so low. You have to assume the worst.

So, service records can tell you if something is brand new or 12 years old -- and that effects the value of the car.

 

Also when a person hands me a binder of all the service records, I know that the previous owner is probably another meticulous enthusiasts that took good care of the cars. Is it a 100% guaranty? No, but it certainly minimizes some of the uncertainties. To me, $10-$15K premium is worth it for a documented car than something unknown - not mention it's a lot easier to sell a car with a documented history.

 

Also a good point. It does say something about the thinking of the previous owner(s).

You can still buy a great cream puff car without records. You just have to start from scratch and understand that the pricing of the car must factor in that.

 

Buy first, ask questions later....