A 348 spyder 43K for $35,000 anyone know it?

Hi everyone, I don't post too often but I have been a long time reader here.

I was curious if anyone knows this particular car for sale at Gullwing motors in NY or could give some critique. I've not heard too much about this dealer recently. But I think some people have mentioned things like old/tired cars in need of servicing in the past, I prefer to withhold judgement until I actually hear from someone who has dealt with them personally. Anyway the car is a 94 348 spyder with 43K on it. No mention of a major service in the ad. In fact no real useful information in the ad at all. He's asking $35,000 for the car which leads me to believe there must be some deferred maintenance or issues in need of attention. Anyway, here's the website:

http://www.gullwingmotorcars.com/detail-1994-ferrari-348-spider-used-6274406.html

I look forward to your learned responses.

 

Looks good, but no mention of any service records or service history?

 

I love how they mention that it has heat, but nothing of the service history. I remember reading along time ago a post about a 911 on ebay and one of the options were windshield wipers. It must have been rare because I had never seen it before;-)

 

My favorite color on a 348....get a PPI and go git her !

 

+1! That is a beautiful color. Do your due diligence and proceed if it looks right! If it checks out, you'll get a nice car for a good price!

 

Also looks to be a super-rare SOHC version. The engine is lighter with less reciprocating mass. ;-)

 

just plan on an extra 8-10K for service and your good to go.

 

I've been a follower of this site for years- great project and dream cars to provoke thought. I think they are all honestly marketed and the prices reflect that. None are perfect and all have potential. At least they are always interesting (like the Montreals and '59 Alfas).

Give them a call and ask.

 

go get it brother

you will luv the 348 spider

 

that looks so beautiful in that colore

 

AWESOME colour!!

 

You will love the 348 Spider, Get a PPI, and do a compression test. If all checks out you should be good to go. Find out the last Service and call a few Ferrari dealerships with the Vin and see if they have anything on it. Check the Top and see what condition its in. Take her for a test drive, you will not get into 2nd until she has warmed up, thats pretty normal. Let us know how you make out.
Good Luck

 

I agree. As long as you plan on spending more that just the $35k you should be fine. Just don't get into it and not have anything extra. The inspection is well worth the price.

 

Nice looking car! Like the others have said, get it checked out. If you decide to buy 'er, be prepared to: 1) spend some money on the major service, 2) have some fun getting 'er all sorted out, and 3) find a good dermatologist to help you fix the stretch marks on your face that will be caused by the endless ear-to-ear smile!!!

 

Like it !

 

Yes...Have an available reserve, of course

 

Nice color, not too common. Makes me nostalgic for my old Spider...

 

Funny, I was just looking at this car on their site not 20 minutes ago. Sadly, for the time being I am just dreaming though

The front spolier looks to have some rock chips and the interior looks like it might be a little tired, but for the price those are probably small considerations and relatively easily corrected as long as the car is in good mechanical order.

I concur that the color is very nice looking!

 

John,

Moorespeed in Austin had a 348 coupe this color, IIRC......or did.

All services up to date, etc.

 

Which means it was actually driven, as opposed to sitting around rotting away

I concurr

 

Thanks for the replies everyone, I sent an email asking about the service particulars of the car. Will post back with the reply. Thinking about the financial reality here too. How much more do you guys think this car will depreciate in the coming years. What do you guys think is a reasonable yearly service budget? I'd likely drive it about 3000-4000 miles per year and would appropriately service the car as I do all of my cars.

 

In 1992 I bought a new 4x4 pickup (and still have it) for $22,500, it's probably worth $2,500! I'd be surprised if you would loose $20,000 on your car like I did on my pickup! Just one way to look at it. For maintenance, after you do the major and have good tires on it, throw $50 per week in a cookie jar and you will be close for oil changes and your next major.

 

Gullwing. Hmmm.

 

I just looked at a site called Bradan he quotes a major at 4700, which is not too bad considering I spend that every couple of years just maintaining my 750iL.
OK Isobel, I'll bite, what's with the Hmmmmmmm......

 

I bought a brand new M3 in 1998 for $40,000. I still have it 12 years later, 130,000 miles in perfect shape, and it is probably worth $8K. A loss of $32,000.

I bought a 308GT4, drove it for 6 years, sold it for about even money.
I bought a 328GTS 3 years ago, still have it, and I would be surprised if I did not make money when I sell it, if I sell it.
I bought a F355 this year, if and when I sell it 10 years from now, i would be surprised if I lose any money at all.

However, now is a lousy time to sell a car, any car. And buying any car thinking it is an investment is absolutely foolish. Buy it, drive it, enjoy it and worry about it when you sell it.