First post, in need of first Ferrari advice on a $40,000 budget

How big are you? I actually prefer using my Mondial over the 308 as an actual car.

Neither will really appreciate over the next 10 years.

 

$5k should fix the interior on this one. Puts him in at ~$31k.

http://www.forzamotorsports.com/1984ferrari308gtsqv/default.htm

 

Yes, on the surface, that appears to be a pretty good buy. I would wonder about the tires though. They might need replacing due to age, don't know.

However, if the OP uses up his $5,000 on the interior, he has nothing left for future maintenance. $35,000 to spend on the car with money left over for maintenance doesn't leave much wiggle room. It might be tough to accomplish.

Maybe a higher mileage 308i would work out.

-F

 

Take a look at the two 400i cars in FerrariAds.

Within your budget, and more bang for your buck than a 308, which is a fairly slow car, relatively speaking.

Yes, a twelve cylinder is a bit more complex, but a well sorted out car should be fun to drive and (relatively) affordable.

 

Boy, I have a hard time reconciling a V12 and the word 'budget'.

Can the belts on the 400 be changed with the engine in place, or is that a chain drive system?

-F

 

I would favor a 308 like this:

http://m.motorcargallery.com/site/vinZFFFMA13A800046935.html

Freshly serviced, higher miles.

No affiliation.

A hardtop (GTB) is harder to find and probably will cost more.

Buying a 40k 355 is a dicey proposition at best.

The 400/412 cars are cheap, but will take a long time to sell when you are done. They are slowly drifting down to being 10k dollar cars, where I would bet a 308 hits a floor at 20-25k.

Happy hunting.

 

Completely contrary to my experience (granted, I am not in the US). 400/412s are appreciating and you certainly can't get a running car for that kind of money. A decent car will fetch well over $40k over here. 308's are appreciating too. A perfect vetroresina will fetch well over $100k in Europe.... Good carb cars are over $50k, same for QVs. Hard to buy a decent one below $40k.


Onno

 

Way to treat the new guy, nothing like looking like a horses azz on a global scale.

 

Couple of things to consider.

First, buying a Ferrari is an emotional purchase. It will make no logical sense whatsoever. Certainly not financial sense.

Second, the cars you are looking at will likely not appreciate value much over the next ten years. I think there is upside to the 308/328 models, but the cars in your price range will be higher mileage versions which means any potential for appreciation will have already been "driven" out of them. Additionally, your budget allows for very little room to highly maintain or to restore the car which will be required to hold it's value. This is especially the case for 308, all of which will need new interiors or paint over the next 5-10 years. And even more so for cars with higher miles.

Yes there are more needy models than others. The 355, Testarossa (out of your price range), and to some degree the 348 are more expensive to maintain than the 308 and 328.

The 308 and 328 offer a slightly more raw driving experience than the 348 due to the lack of power steering in the first two models.

Your budget really only allows for two models (aside from the Mondial), the 308 and the 328.

I agree with others when they question your motivation for purchasing a Ferrari. What is your interest in the marque?

-F

 

In my opinion you only have two choices. 308 or Mondial. Thats with including a service in your $40k budget.

I would get a hardtop Mondial. They are VERY good looking cars as a hardtop.

 

348 has manual steering, 355 was the first with power steering. I don't think any of them will appreciate much short term, in 20 years who knows? Maybe some of the limited performance models like 308 dry sump and glass cars, 348 serie special and gtc, and 355 fiorano models. I also think '95 355 challenge cars will be collectible as they're pretty much the last race car ferrari built that could be registered for road use. All of the rest are and will continue to be on the wrong side of the supply/demand relationship.

 

Agree - 308 and Mondial are the safest choices in your range. Many around and they pop up for sale regularly and frequently. Take your time looking.

I'm quite happy with my 308.

 

Nobody can tell you about values 15 years away; it's a whole debate in itself that would take pages of opinions and you'd still be none the wiser. Look at mailing list discussions on this topic from 1997 and see if those predictions are true. You'll likely find 100 different opinions, only one of which is spot on.

308 is certainly a raw mechanical experience. 328 more refined, 348 more again. It's a matter of degrees.

You really have to go find some to drive to come to your own conclusions about what cockpit you fall for, what drive you enjoy best. Whilst they are all V8 Ferraris, they are quite different beasts.

 

1978, when the carbed 308GTBs got catalytic exhaust, the birth of the "SLOW DOWN" light.

SLOW DOWN?????

In a Ferrari?????

I'd rather catch fire, stop.....drop...and roll.
But, that's just me!

Welcome man, have fun tire kicking, go to FCA and meet some whacko car guys.....I'll be there....If I've paid my fees.....

 

400GT w/5 speed

 

Stick with a 308/328. Once you get into 348's & 355's, maintennace cost go up due to engine out service on these.

 

Yes, to replace timing belts the engine must be removed from the 348, 355 and Mondial t. The 360 I believe has a hatch through which you can replace the belts. The belts are located against the passenger compartment on these cars and there is not enough room to work in there.

 

This fall I purchased a '91 348 TS with 13k miles, in close to pristine condition, for $38K.

 

theres a 355 drop top for sale in Canada with a salvage title for 27k. Sounds like something that might appeal to the OP?

 

I don't think 348, 355, and 400 work with his small maintenance budget.

-F

 

+100

These three cars have more Expen$$$ive service issues than the Space Shuttle - if any of these cars are truly 'well serviced', they are outside of the OPs' price-range because the seller just spent LARGE money to get it sell-able (able to pass a decent PPI by somebody who knows what they're doing), and needs to recoup his losses. The only time to buy a Ferrari, and get a deal, is to buy after the seller just cried his eyes out after leaving a shop where deferred maintenance finally caught-up to him....

IMHO, anyone caught recommending a grey-market, 12-cylinder car as a 'first Ferrari' with a tight budget is smoking crack....