Hello all, I’ve been stalking this site for a bit (located in the US) and have seen so much interesting information but wanted to ask a question. I can buy a 78 308 GTS for $25k that was an older gentleman’s car who passed away. Odometer shows it’s in the 50k range and the car looks great with no wrecks but the engine has sat for nearly 10 years and blows out some white smoke when firing. Could be heads, gasket, could be whole rebuild- I don’t know to be honest and neither does the family. My dad and I have restored several old Chevy’s (1955 210, 1968 Camaro, 1971 Nova, etc.) so we have a lot of knowledge on small blocks but just looking at this 308 causes me anxiety with the motor lol. I wonder if I will be capable of learning how to do a lot of the things myself this car needs and if it does need a new motor seeing the prices on here quoted of 70-100k scares me. I love the car but just a bit nervous. Any advice on what y’all think would be greatly appreciated. Thanks
Probably will blow a little white smoke once it starts after sitting so long. But I wouldn’t be starting it until you Shoot some penetrant in the cylinders and do a belt/bearing change. If it was me the owner would already have the cashiers check in his hand!
If it was well cared for (prior to the idle period) and is accident and rust free, and does not require paint or interior restorations, and it runs but with some smoke, you have got yourself one heck of a good deal. Not sure where you are, but flat-bedding it to an independent Ferrari shop do an assessment would be money well spent and provide peace of mind.
I appreciate the comments. Ok, well I’ll give him a call and will let you know how it goes. I’ll go ahead and pull the trigger and get it. I was just concerned over what if’s and also if it did have to have the motor rebuilt. I just put a new small block in a 55 and the motor only cost $5500, seeing 70k though is a bit more scary!
You should already have handed them the cash. You should figure on new timing belts and bearings for it, and will probably want a rebuild on the carbs as well. You'll definitely want to replace all the fuel hoses as well unless you have documentation that they've been replaced. For timing belt parts contact Ricambi America, for fuel hoses it's Scuderia Rampante.
It’s not going to be like a Chevy where you throw plugs/ wires/Seafoam in the tank and give it a go. Little more involved but if you guys like projects this 78 would be a fun one. Just for point of reference, some guy on eBay is asking $19,000 just for the front clip.
Not sure where you are seeing engine rebuild prices of $70k to $100k? That would be for non-stock rebuild with high end performance components. I think a stock rebuild would be more in the range of $20k. Less if you have a knowledgeable machinist and can do some of the work yourself. Sent from my iPhone using FerrariChat
As already observed, $25k is a super low price for a 308. Yeah, if it was parked because something went bad with the engine then maybe there is a major expenditure requirement but the situation its as you described it, it is unlikely. Still, it is very wise to check first. At $25k you have a lot of room before you go under water. Even if it is a blown head gasket or whatever a professional rebuild isn’t $100k as you cite. You say you are familiar with engine rebuilding so you know that a Ferrari’s pistons go up and down the same way as a Chevy. If you are willing, you might even be able to do the work yourself if it is necessary. Also as already suggested a PrePurchase Inspection by someone knowledgeable with 308s is a very good idea. This is always very good advice. It may give you some insight into the problems. The technician though will be guided by the usual stuff; compression tests, leak-down tests, emulsion in the oil etc. With exotic cars PPIs by experienced 308 technicians are also useful for identifying things you might not notice if you are unfamiliar with the marque. A crack in a windshield might not catch the eye of a Chevy guy but its a lot harder to find a replacement for a 40 year old exotic. They are great cars. If it passes your assessment you will love it. Best wishes in this purchase. It is a rare car. You will not get another chance to buy one like this again.
... and please let us know what you decide. Hopefully you can post a photo of a nicely polished car that runs perfectly.
I had just googled it and that came up a few times? I felt that was crazy as well so I certainly like hearing the $20k range you mentioned much better.
I had just googled 308 engine and rebuild and saw that price come up a few times? I thought that was crazy as well so I’m glad I read some bad information! I am definitely going to buy it and am super excited to have it. I’ll post some updates as well as find out some more great info on where to start.
Well, I am no expert so don’t take my word over others. An engine build probably is less than $100k but is still going to cost money. It is prudent to have a good sense as to whether the car is solid or flawed before you buy it. You want to know what you are getting yourself into. Maybe an explanation as to why the car was parked for so long is enough or maybe it is not.
As far as the engine, the critical thing I would want to determine is that it is in sound condition. If, for example, the block was cracked/damaged, I'd forget the whole deal. If you have rebuilt Chevy motors, you can rebuild the Ferrari. As mentioned, the prices for components are usually considerably higher, ESPECIALLY if you purchase 'genuine' Ferrari parts - which often are just the same parts as the non-Ferrari parts but packaged in the "Ferrari" box! But pretty much all the relevant parts for the engine are readily available. Just take your time!
You MIGHT be able to get it for $20k if you can (respectfully) discuss the mountain of service it’s going to require with no real idea of engine condition, etc. Was it stored inside in a dry climate? Tools and books present? Rust? Any service records would be helpful in giving you a general idea of how this little machine was taken care of. Many knowledgeable and really good people in this community that will bend over backwards to help you get this sorted.
It definitely looks well worth a look! Lots of good advice above. IMHO if the engine doesn't have a catastrophic flaw they are simple and well engineered and fundamentally the same as any other engine, though parts can be expensive. Sounds as if you're well experienced in this area. I would get an inspection to look at rot and other things - as mentioned some parts are NLA and can be insanely expensive or hard to get Good luck! John
So a little more detail- fortunately it’s been stored in an ridiculously nice shop that is climate controlled with probably 10 other cars that this gentleman owned. This Ferrari was his favorite and I was given the opportunity to buy since having old cars myself as well as one of my friends knew the family and that I loved Ferraris ever since the original Magnum PI days lol. He had a stroke around 2008 which ended him driving this car as well as the other amazing ones he had. Most have been sold and another friend had a mechanic out to look at the Ferrari. The body and all looks amazing and I didn’t see any rust or rot but I will check again as soon as I get out there. His mechanic didn’t steer him away but rather told him how expensive this project could lead to be if in case the block was bad. My friend also does not have any mechanical inclination so he would have to pay someone to do everything. They fired the car for just a few seconds and said it sounded great but shut off since it really needs to be gone through after sitting. One of the mechanics (2 different ones on 2 different trips and neither Ferrari mechanics) said he thought he saw some coolant in the oil. When I checked as well as the other one I didn’t find any coolant in the oil or oil in coolant. Block turns freely and with the story and condition of the car and this mans amazing shop I tend to believe it really did just sit because he unfortunately was unable to drive it anymore. I’ll find out today about prior history and receipts of work done. Again, I was just scared over the prospect of some of the prices I’ve seen if the motor does in fact need a complete rebuild. Again though, I think I have to do it as it’s a once in a lifetime opportunity for me.
I’ll also add when they fired the car it didn’t want to stay running and had to shoot starter fluid into the carbs as well as some white smoke came out. All things that with a Chevy motor that would not scare me at all since after sitting could be anything. I however, if I get it will not fire it again without changing all the fluids, filter, belts, hoses, etc (AND WHATEVER ELSE YOU GUYS TELL ME TO DO FIRST LOL) before I even test the motor or see compression etc.
First and foremost, if the engine has 50k miles on it then there is no reason to think that you need to completely rebuild it. If it has a blown head gasket then replace the gasket, no need to even touch the bottom end. You might want to replace the sodium filled valves in the process but that's not so bad. As others have said, it's just an engine. It's got more cams and they're in a different place but there are only a few special tools you'll need like a couple of ring nut sockets and maybe a blind bearing puller. Nothing that's gonna break the bank. For this car you would use the workshop manual for the GT4 which is available online. If you're handy with a wrench you can do this.
REPLACE. THE. FUEL. HOSES. All those Youtube videos you see - and unwarranted stigmas about - old Ferraris catching fire, is more often than not because the fuel hoses "looked fined from the outside" and were internally rotted. The fuel filler neck has a short fat hose connecting it to the gas tank, and runs right above the exhaust header. So, if that filler neck hose starts to leak, you're dripping gas onto a hot header. Thus all those internet vids of 308s burning ... nearly always at gas stations. Otherwise, that car is worth significantly more than $25k in parts alone. Post pics when you do the deal, and maybe where you're located once you have possession, and any number of forumers here would be happy to come visit you to give it a once over, or recommend a local expert. Good luck!
Carb'd 78 in very good condition has to be worth at least $50k right? Even if you spend another $15k on all the rubber, bits, tires, fluids, belts, plugs, wires, filters and.... What else? Short of digging into the engine youd still be into it for less then it's worth ... If it was me, they'd already have the money in hand. I'd throw a new battery in it, change the belts, check linkage, and give it an Italian tune-up .. then reassess as needed. Ok, drain the fuel tanks and replace the rubber fuel lines.. $25k for a garaged carb 308? .... Done! Run with money in hand and make it yours... Seriously!
This is an exciting opportunity for you and I hope it works out. You may find this video interesting, and may be well worth your time to follow his progress
Yea I don't know, Jack's story is a tortured one. Not your typical experience by any means. I wouldn't use it as a guideline.
