help on buying a 355

I am looking to buy my first Ferrari. I was originally looking at a few 308's but now found a nice 1995 F355 Berlinetta.
Would appreciate tips and inputs with regards to:
- maintenance costs
- market value - what is a fair price
- market value - has this model (similar to the 308) reached the bottom of the price curve or should I expect a decline in value still?

thanks!

 

Search is your friend.
These topics are covered continuously.

 

Summary:

1. Budget $5500 every 5 years for major and $1000 per year for fluids maintenance. Keep some extra cash for unknowns. 355's have several issue itmes that can get expensive unless you do your due dilligence up front.
2. $50K should buy you something decent in the 1995 year. Less if it needs work. More if it is an outstanding example.
3. Values will hold on this model and increase except for the later years and more expensive priced ones which will likely drop. The 1995 B's will increase soon because of the cult following these models so get one soon if that's what you want.

Use search for more detail.

 

After 9 years of 355 ownership I must say that this is the most concise and accurate summary that I have seen. Every word counts. Perfectly summed up.

 

How in the hell are your fluids costing you $1000 a year? Unless you have it done at the dealer. DAMN!

If you do your own work you can save substantially on the costs of maintenance.

 

An oil change with filter will cost ~$140 if you do your own work. I have a receipt from a previous owner for an oil change, from memory I want to say it was $350+. Two of those a year (if you drive it enough) and that's $700. Add in flushing the brakes/coolant and changing the trans fluid and you could easily hit $1000.

Doing your own work will save a substantial amount of money. I personally would not have bought my F355 if I was scared of wrenches. No way would I be comfortable spending some of the figures I see thrown around here.


Rob

 

Vince said fluid maintenance - there are fluids other than engine oil.................think brake fluid as well.
His advice to the OP was clearly based on paying for the work; during my ownership, my car has never seen the inside of a workshop either.

 

As for price, $55k would buy you a museum piece with under 8,000 miles. Ignore the prices you see on Ebay, cars are not selling at those prices ($60K and up) in general. You should be able to find a very nice "driver' with a recent (less than 2 years) major service for $45-$48K. don't forget the PPI, its critical.

 

Not a chance - more like $70K. Show me a museum piece w/ less than 8K miles for $55K and I'll buy it right now...

 

Someone liked getting robbed! $350 for engine oil change haha

I'm with you I do it all myself, I wouldn't have the cars I have if i had to pay a shop to do jobs especially fluid changes.

Trans, brakes, coolant those can be pushed beyond a year lets say every two, unless your racing. It also depends on what oils fluids your buying.

You can get deals on oil of course and do you guys really have to have the Ferrari filter?

 

50K might buy you a nice 95 but everything I looked at was more than that.
may be mileage and color make a difference as well a yr. this was about 1 1/2 ago.

 

You guys are funny. Annuals will run you over $1K a year if your have a good independent do it. If you do it yourself, easily within everyone's capabilities, it's less.
Filter = $45
Oil = $50-$100 depending on how fussy you are
Trans oil = $35
Coolant = $40 if you use the BMW stuff
Brake fluid = $40
Air filter = $20 again depending on your preference
You can get away with coolant and brake fluids every 2 years.
Around $300 in parts and fluids. The rest is labor. Add a bit for 355 Spiders and replacing their hydraulic fluid every other year.

 

Check it out. Similar cars. Different mileage. Which would you want?

1995 Ferrari F355, $59,900 - Cars.com

1995 Ferrari F355, $42,888 - Cars.com

 

Strange how two similar cars are both out of the Seattle market which isn't really know for being heavily saturated with 355's.

 

I think this topic degenerated somewhat off topic.

In UK, I would allow £1000 a year for service and about £2k+ every third year for belts. sometimes more, sometimes less, things go like radiators, clutches, aircon, steeting pumps, shocks, etc, just like any normal car,

find a good independent that can service your car at a reasonable cost and someone that's known to others that have 355's and you should be fine.

95 cars have their own issues in terms of valve wear, search on here and you will find the posts, but I would imagine all cars have been repaired or don't suffer it by now.

have whatever car you are buying inspected by a main dealer or an independent, for peace of mind or to use what they find as a bargaining tool to agree a purchase price.

prices have been fairly stable for about last 10 years on 355's in the UK, here a good low mileage (ie. less than 30k miles) will cost about £40k,

avoid F1 boxes, they are just simply more expensive to repair and less desirable, they suit some, but if you watch the market they sell less well.

I think 355's have bottomed out on price and at some point (who knows when) start to appreciate, 308's have certainly doubled in price in the UK in the last 10 year and as Ferrari continue to put their entry level prices up and up, then it helps hold the market price on older cars. Will they be the next dino, probably, but that could be 20 years away,

The 355 is a stunning car to look at and drive, it has one of the best sounds ever from an engine, you will love it !,

regards
Scott.
Glasgow,

 

Both cars are different animals...or horses ....drive both.

if you will lose sleep about cost/panic if you get a CEL on your dash, you probably should look at another car......honest feedback.

You might find a perfect unit and pay slightly higher...but again, things can start wearing out as you drive it and will need fixing. Those cars like maintenance......look for one with history and an owner who cared about the car .....at least this will allow you to enjoy it before you start spending on it. This is a personal choice though as some owners prefer to do the repairs.

It does help if you wrench on your car...primarily to bond with it...yes and save some money....but parts are not cheap .....

What is the satisfaction of driving a Ferrari and belonging to this passionate culture worth to you ?

Think with the heart

 

I sent you a PM, about my F355, For Sale !!

 

You'll have to pay $55.1k as I'll bump it at least $50

 

pardon my novice question - what is wrong with the 2nd one ($42,888)? what am I missing here? is this price point to cheap for this model/year?

 

the second car has high mileage (for a Ferrari) and no mention of a recent (within 3 years) major belt service. It has had some work done, to fix failures but still needs the $7k+ belt service. when you price this in, the first car is a better deal, hands down.

 

So much misinformation here...

 

It's more like the higher priced car is way over priced, particularly for a private sale. Last spring a similar very similar car (yellow 95 GTB) with fresh major went for around $50k or under from a dealer. I forget the exact mileage but it was closer to 20k. You really need to see records and when the last major was. If the 46k mile car had a recent major (within a year) and no issues and a good PPI, I think the ask is reasonable. If the 26k miles car is the same, I walk away at anything over $52k, and that's only because it has the carbon fiber seats.

 

CF seats and Hyperflows and Tubi and headers. What else does it have that the oher one doesn't? Still high but not too far off IMO.

 

see your point. what if the belts have been replaced in that service they mention? does that change the picture?

 

what is the lower mileage car had the last belts replaced 2 yrs ago - is it still a good deal?