Hey F-car Omnicients, I'm new to this board, mostly due to my perversion for Porsches, but I've stumbled across a potential project car that may lead me to the F-Car owners guild! My neighbor has a 308GTS (year, I'm not sure, it was the last year for Carbs), that is very original, but very tired in my opinion. It doesn't seem to have any rust (a bubble where the windsheild meets the fender is all I can find). It has about 48k miles on it. The paint is cracked badly across the roof, and is starting on the rest of the car. I've never been terribly interested in owning the car, but lately, I've been hankering for a project car again. In a past life, I did body work on F-Cars (512BB and a Stramann Conversion Daytona), so I'm pretty sure what I'm getting into. Questions: What is a car like this worth in it's current condition? Assuming I could rejuvenate it to 95% or so, what would it be worth then? Am I a fool for considering this car -- are they like some Porsches where they made too darn many of them and they'll never be worth squat? Thanks for any input! Scott in Cincy
First, welcome to Fchat I believe the last year for carbs is 1979. It will have approximately 205 HP in that configuration. You state it's a GTS, but then say the paint is cracking on the roof. Is the roof panel removable? If not, it is a 308GTB How long has it been sitting? What color is it? What color interior? The first thing is to assume it needs a full major service with bearings/belts/valve timing/waterpump/etc. Figure $5,000 if you have a shop do it. At best, the car is worth mid to high 20s, if it were in very presentable shape. So you're looking at $15K, and that doesn't even include the paint and body and interior. If you want a project for projects sake, offer 10 or 12K max. He probably won't take it, but anything more and you'll be upside down when it comes time to sell. There's a lot of 308s out there, there's no need to get into a fright pig unless you just have a need to fix the car.
It is a GTS, I meant the targa like cross bar at the rear of the roof, not the roof itself, but worth clarifying for sure. He drives it *occasionally* probably 200 miles a year, so it doesn't sit, but it doesn't get used very much. The car is the usual red/black combo. Kinda sounds like an engine rebuild to me? At 48k miles is that advisable anyway? Again, I don't mind the work, it's just the expense of parts, etc. Yeah, I doubt he'd take it, but it's worth offering. I like the look of the 328's and the 348's better, but I've heard the 308 is the easiest to work on. Is there any good literature out there for restoration of these models? I try to do a ton of research before I dive into any of these things. Thanks!
It sounds like you're looking to invest in a car to restore. Not going to happen with a 308. There are just too many of them. For what you put into it to get it to 95% you will not get that back out o fit. Even if you do the work yourself, so many of the parts are just unreasonably expensive and that itself will kill trying to make any $$ on a project car. If you just want a project car for the sake of having something to work on then by all means, have fun. But don't expect to restore the car to 95% and have it be worth any money beyond what you put into it down the road. Especially one that doesn't appear to be documented, and has a lot of miles on it.
No, not an engine rebuild (that's in the 5 figure range), but replacing cam bearings, idler bearings, etc. If the previous owner has the service records then this cost can be lowered somewhat. The issue is that the Ferrari V8 is an interference motor, and so broken timing belts or seized timing/cam bearings gets very pricey indeed. The water pump bearings just go bad every 5-7 years. Also, you'll want to check all the fuel lines, including the filler hose and the crossover hose. Also check for the emissions parts, they're hard to find if missing or broken. If you're a gearhead, you'll like these threads Replacing 308/328 Timing(Cam Belt) Drive Bearings 328GTS dumping coolant Read from the bottom up 308 Waterpump and same old questions Read from the bottom up And you absolutely have to see this thead on Jay Grande's 308 GT4 restoration.
The parts for the service will run about $1000, the rest is labor. To help put things in perspective, take the porsche price and multiply by 4 or the chevy price and multiply by 10. That will usually get you pretty close. Even doing all the work yourself, you will lose money on the car unless it's nearly free or you do your own paint. The paint job alone will be $8k-$10k (ferrari bodies are not straight under the old paint like a porsche is, they are covered with filler)....so IF you buy the car for $15k, the only thing you can afford to do is paint it before you spent what you could buy a really nice '79 for. The only reason to do it is if it will be a labor of love.
Fortunately for me, I can do my own bodywork...however, the parts figures are kind of astounding! I thought Porsche was bad
You would be better off spending 20k plus on a 308 driver. Preferably one that has had a recent 30k but is cosmetically challenged. You will have a better chance of remaining only moderately in the negative when you are done with the car, meaning "presentable" not "concours". There were 12,146 308 GTB/S made. Maybe 8,000 are still on the road. You can get really nice '80 to 82 GTSi's (2 valve FI) for 25k or less. Same goes for '78 & 79 GTB/S (carbed) cars. The pre '78's are worth more (more power) and post 82 Quatrovalvole (QV's) are worth more than the rest due to 4 valves per cylinder and FI. Very difficult to actually make money on these unless you get one for free or close to it. Get it and enjoy it. Pay the dues and move up.
