308 - Fast tech advice wanted for possible purchase

QUICK ADVICE WANTED! I just made an offer for a 79 308 GTS. I'd sure appreciate your fast thoughts!

I'll be talking to the sellers mechanic tomorrow (Alan Himes/Craftsmen in Falls Church, VA--anyone know and like the shop?).

Fellow Ferraristas, what'cha think? What would you consider this car worth? Any major yellow or red flags? Given the high miles (apart from the engine), any major concerns?

This will be a fun driver, not a show car for me, so perfection in appearance isn't my goal, but something which will last well and look good is the idea.

Here's the rundown from my 2 hr inspection and drive:

The good stuff:
* 2K miles on rebuilt engine (144K miles on car).
* 1999 repaint.
* Newly recovered seats (very nicely done) and new carpet. Tan seats with black inserts, tan carpets but the tan carpets is a different shade from the seats.
* Runs very nice.
* Brakes feel very nice, rotors look like virtually no wear.
* Handles fine.
* Shifts nicely.
* Carbs clean enough to eat out of--rebuilt 2004.
* CV boots look fine.
* Has owner's manual (but no shop manual).
* Lights, wipers (kind of slow on a dry windshield), horn, etc. all work.
* Air pump (smog) is there with at least the lines going to the rear bank present--I can't tell what else should be there emissions-wise.
* Reasonable CD stereo, speakers don't sound the best.


The "Rest of the Story":
* Paint very nice but has some various chips.
* Some rust bubling under the paint on both front fenders towards the doors. Doors and rocker panels fine.
* Some of the black trim and louvers are faded original paint, others sloppily repainted.
* Oil leaking from the region of the rear bank on the side of the trans. Can't see where it's coming from.
* Airconditioning doesn't cool at all. Not converted to 134a. (I know, it's a GTS and why on earth would I want to seal myself up in the car so I can't hear the song of the engine!)
* Suspension bushings look original, but not really bad (I've seen bad on my Triumph!).
* Shocks seem alright, but look old and a bit rusty.
* Some surface rust and missing paint on the black structures on the underside of the engine cover (do we call that a "hood" or a "trunk"!?)
* Engine compartment paint (black areas) not great.
* A little black soot from the exhaust when starting the car, then it gets very minor but still a little visible when revving. Is that oil or too rich?
* There's a 2'X2' pan on the front underside near the front (forward of the battery I think, or maybe not) that is rusted through a little at the front corners.
* Clutch seems fine, not as grabby as another 308 I drove, but no slippage or chattering at all. With 2K miles on the engine it should be (had better be!) a new clutch.
* The dashboard is in fine condition except for the cowl over the instrument panel, which has a 2"x1/2" missing area on the dried and cracked leather. (is replacing that section expensive? Stitching on front of it frayed because it's too darned close to the steering wheel!
* The steering wheel leather wrap is in fair shape but all the stitching is gone so it's separated at the seam. Might or might not be too shrunken to restitch.
* Engine cover hydraulic lifts don't hold it up.
* No tool roll, no jack & kit.
* Windows so slow the snails laugh, but they do go up and down!
* Fuse blocks look good except for one fuse terminal which was cleaned some after overheating.
* Very small star on the windshield, should be repairable.
* Emergency brake needs adjustment.
* 2 curb-side wheels have scrapes, but otherwise paint good. Driver's side fairly good, spare fair. No logo center cap on spare, should there be one?
* Tires 70% worn. Original (age-crazed) spare!
* A couple center console toggle switches missing the black caps.
* Various other "old car" things which look worn if you really look for them.

Thanks!
Art in Virginia

 

Thanks everyone!

I really appreciate your expertise and advice. I got it today for $22K so now she's all mine, warts and all.

As a Ferrari rookie, I'm sure I'll have lots of questions for the forum as I work on it, and as a veteran car nut I'm sure I'll contribute plenty of answers as well.

Hope to meet you all at various events and clubs.

Thanks again!!!

Art in Virginia
79 308 GTS
81 Truimph TR7

 

Here's some photos of my new Italian beauty!

http://www.ferrarichat.com/forum/showthread.php?t=60974

Art