The Dream is Over

Did the car have an issue that warranted a compression/leakdown check? Fix it and enjoy it, with the engine out and half apart, they shouldn't charge too much to have the heads done. On the receipt for my car, it only added 2-3k to the total when the car was in for a major which shouldn't kill you (or you probably couldn't afford the car in the 1st place). If the car was running well before it's unlikely that there will be other damage imo.

 

My car's #2 cylinder went kerplunk and had around 80% leak down. That liner had to be replaced as well as the piston, and obviously full head rebuild. Not too big a deal, but I freaked out too when it happened. Wish I hadn't stressed so much about it, probably took years off my life but now my car runs better than ever. Don't freak out, it will be back running again. Sorry for the troubles.

 

Steve, just a thought and it'll sound a little 'left field', but how much does a 355 engine rebuild cost out your way (if you do need one)? I do know that an engine out cam belt service over here is allegedly cheaper on a 355 than it is over there. For a 355 18k service by the book with engine out and cam belt change at one of our top specialists is just over $2000. That specialist also has a specific engine shop that specialises in engine rebuilds. The cost of shipping a car from the US to the UK used to be a little over $700, not sure now.

As I say, little out there but you might find it's way cheaper to ship to the uk and get a specialist here to rebuild the engine. The specialist I'm talking about is pretty well known throughout Europe, I don't use them as they're at the other end of the country but I know people who have.

May put it back within your bracket?

 

Did I miss something? What kind of problems have you had with the engine? What do you mean the "The Dream is Over?" You say this as if your car has been in a horrible fire.
It's only an engine and that can be fixed. I know what you mean about it being expensive, maybe the shop can work with you on the payment.

Can you please tell us what kind of symptoms your 355 was having prior to engine out? My guess is that this might not be as bad as your thinking.

Breathe deeply and try not to panic (this almost never works for me.)

 

agreed with the others comments ^^^

being this a competent mechanic, then the #8 cylinder can be further leakdown tested with all valves closed (seated) to check the piston rings are holding ....if the entire leakdown problem is just the valve guide/seal (valve itself cant leak) and valves are seating properly (meaning no bent valve or seats issue), and the other cylinder bank tests fine, then just the one cylinder head could be rebuilt
many will of course say "while you're in there do both or the whole block", but budget is a fact of life, and it is just a repair job, not necessitating more than what's in need of repair ...this can be readily done in combination with the major service

edit: further to this, a rebuilt head can be ordered in advance, and yours returned after for core charge rebate, thus reducing any wait time while in the shop

 

Steve, I'm really sorry to hear this my friend. I know we have been talking about majors the last few weeks and I can certainly understand the shock. I was a little surprised to hear your mechanic say that your car wasn't driving strongly when he first drove it. But at least now we know what the problem is.

This being said, I agree with everyone else here. The 355 is one of the greatest cars out there and is just too much fun to quit on. Right now I'm sure you're not liking the experience, which we all can understand. If you can't afford to work on the engine at this time or are so fed up that you want to sell it, no one will say you're crazy.

All this being said though, IMHO, even if you spend 15k on this car to make it right, no other car will make you smile as wide after you hear that v8 sing properly for the first time. It sounds like your mechanic is up to the task, and you will have a new car when he's done for the cost of some engine work. If you have the means to fix, I say go for it. You will not be disappointed. Keep the dream alive!

 

Do it and don't think about the money, life is too short and these cars are way to much fun to worry ...

 

I had my F355 engine rebuilt a couple of years ago, having to replace all of the cylinder liners. While "in there" I had all the timing bearings done, new chain and tensioner. I had guy that builds INDY car engines do the heads and valves, and now (2 years later) the engine makes noticibly more power than stock.

All for $38K.

At this point I (and you) are faced with 1 of 2 possibilities: A) the car has become salvage parts, B) you like the car and want to restore it to health.

I chose B.

 

Let me introduce you to the concept of sunk costs. At this point, it doesn't matter what you have in the car. All that matters is (1) what you can buy for $38k if you keep the car or (2) what you can buy for the $$$ you can get for the car as is.

Granted, these are not trivial sums. There are a lot of cool non-Ferrari cars you can buy for $38k. However, your choice of Ferraris is somewhat limited.

Good luck.

Dale

PS Or you could sell your car as is and spend the money on hookers and blow.

 

When I bought my 355 over a year ago I had a Ferrari mechanic tell me my car wasnt making full power and it haunted me for at least a month.
The car drove great wasn't burning excess oil or anything else obvious to me. I ended up putting over 5k miles on her in about 5 months and she is still going great and believe me I pushed the motor hard.

I guess my point is that everyone always seems to think the worst of these cars and yet maybe they are stronger than the their reputation leeds many to believe. Then again my car could blow up tomorrow, I guess time will tell.

To the op could you feel a difference in the performance of your car?

 

Steve, before you get too nervous, have your mechanic assess what is going on first. It might not be as bad as it seems. Once your mechanic tells you exactly what your car is going to need, you can make a better decision. Until then it is just speculation. There is another option if you really like the car. Put the project on hold until the time is right for you. Best of luck.

 

Mitch I respect you but that's easy for you to say.

To the OP, only YOU can decide how to spend your money. You need to decide if this money is best spent on your family or your future. There is no shame in saying you have a better way than spend your money on a car repair.

That being said, it's always darkest before the dawn. Get the data, check it, and then decide what the best path is for your future. Don't toss it in before the final verdict.

Good luck in whatever you choose.

 

Don't do anything while emotion is involved.
Read all you can about leakdown procedures.
Did you enjoy driving the car as it ran before you took it in?
Was it smoking?
Was it popping?
Was it farting?
Is it going to blow?
Is this car needed on a daily basis or can it be kept in the garage for a period?
If you wait to decide what to do with it and learn all you can about it, will you situation get worse or better?
Does the car run at this moment? If so, I'd bring it home or have it towed home as I considered my options.

 

I only skimmed some of the thread, but I thought that carbon on the valves from lack of use (like 1000 miles/year for 9 years) could cause compression and leakdown issues impossible to diagnose further without looking closer...

 

carbon deposits wont build up with lack of use, however valve stem seals can deteriorate and dry, same with the injector o-rings and soft fuel lines

 

Tell him to take his time...

 

This may not be a big deal. The oil pressure drops worry me a bit. Have the heads taken off and check the cylinder liner wear and go from there. It might just be the valves/guides which wont amount to 10s of thousands. Dont panic. When I had my engine out for service and the leakdown was horrendous, I laughed because I was looking for an excuse to do my guides while in there...total added cost was around 4 or 6gs(cant remember).

 

If it turns out that the bottom end does need doing then you may as well do it all at the same time or you will be spending thousands over and above to do it later. You really dont have much choice. You also have to find out why your oil pressure is down. The other alternative is to have your engine bolted back into the car without putting the heads back on or doing the fluides, belts ect. and flatbed it home untill you are ready to go ahead with the whole job(not a good idea).

 

I'm not clear on if the car is already torn down? If not, why not consider a 2nd opinion? Or maybe someone here helping you out? There are some great mechanics lurking around in here, someone may be able to help you get this resolved within your budget!

I understand and empathize with your situation, when I bought my car, I was in a totally different financial position (pre-recession), now i'm just another broke loser, victim of circumstance. When something goes wrong with my car, I go into DEEP depression mode. The only reason my car is running and driving today, is because of my incredible brothers in THIS forum! Particularly Bruce, Ernie, Carl and my savior, Russ at FerrParts... Don't give up hope yet, there are many heroes among us!!

 

Sending prayers your way that it's not as bad as thought. I hope you'll be back on the road living your dream shortly.