Car is local to me. Ran into seller at car show, then found out the bad news. Ferrari 355 Berlinetta | eBay
Ops, didn't see that thread. Mods feel free to merge these. Overall it is a 20 footer. Lots of little cosmetic issues all over. Some service history is questionable too. But I didn't see any obvious areas that showed signs of a major hit.
Well maybe, unless someone wants to turn it into a race car or something. But talk about unknown issues!!!! Sheesh!
Yo guys are way too chicken. At this price or maybe a smidge less, you get a great driver. Yes it has salvage but you are not paying 60K for it. If it needs only cosmetic stuff, screw it and buy it. Given the year you probably wont have valve issues, maybe headers though. Not a big deal. Come on, it's a cheap 355 GTB with a manual!
I'd be in at $30-35 pending a look over but $39k is retail with a salvage title. I would not be afraid of the car as a driver at all, but the true cost of any car is "Purchase+service-resale" and the salvage history,no matter how minor makes it hard to sell in the future and will limit its value for years. Although a previously wrecked 250 GTO just sold at a Monterey auction for $38 MILLION, so the stigma can be overcome with time
Just goes to show that salvage cars can and do sell. Sure they will always trade at a significant discount to non title issue cars but it's not the kiss of death by any means. Key to slavage cars is get in and get out at roughly the same $ when you decide to move on. No one ever gets back every penny they put into maint/service on a clean title car as long as one stays in th same "proprtion" to what a clean title car is price wise buy it drive it and enjoy life andwhen you find somethign new move on. There is another 355 on Ebay without a branded title for under $40K which needs a few things and in the long run is probably a better buy than this similar car with title issues.
Interesting that this comment may indicate that some folks are more afraid of a salvage title than known mechanical needs....I suppose that makes some sense since a salvage car CAN have UN known mechanical needs as well as a paperwork hurdle to overcome. It is also true that a car with needs that is properly repaired recovers 100% of its value, where a Salvage car remains tainted forever regardless of money spent and work performed. The "salvage" paperwork process is so imperfect and inconsistent though. Many cars have salvage titles that may have been stolen and recovered with no damage, and other clean title cars have had serious body repairs that will go unreported. As long as the price is right and the lower future resale is considered, a salvage car CAN be a bargain, if your plan is to drive it rather than re-sell it. It's my view that each car must be approached as a unique specimen and a value placed accordingly.
You do not have to be a Ferrari expert when it comes to a salvage title. Salvage Title just means that the insurance company has considered the car as a total loss ! It may well be repairable but unfortunately it will always be considered as a total loss paperwork wise. That may mean nothing if you are going to keep the car for the rest of your life. But, it does mean something if you are considering on selling it later !
Car sold about 1 1/2 years in Orlando ago for $35.1k with 35k miles. Salvage tittle form Georgia, Rebuilt tittle form Tennessee duly noted on the FL tittle. That owner said he had it about a year. VIN: ZFFXR41A1V0107893 - Ferrari : 355 Berlinetta 1997 Ferrari F355 Berlinetta 355
Exactly. I purchased a "driver" and paid quite a bit more than $30-35k, and although I don't have to contend with a salvage title, I would have been all about getting in $10k cheaper on the hardtop especially given that it was a 6 speed car. Being mechanically inclined and unafraid to "damage the value of the car" by driving it and enjoying it is awesome. My 355 will never be a show car, but it will continue to turn heads, make beautiful sounds (provided I don't turbocharge it), and get driven everywhere! Those who preserve their cars in pristine shape are to be commended, I am just not that guy, I can't be that anal about any car. It would drive me nuts to not really enjoy it on the road everyday. Mark
