advice on 308 purchase | FerrariChat

advice on 308 purchase

Discussion in '308/328' started by jkg2101, Sep 14, 2024.

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  1. jkg2101

    jkg2101 Karting

    Jan 25, 2015
    176
    New York
    Hello - I am close to buying a 1981 308, that is original but needs some work. I am looking forward to doing a complete restoration myself - I have pretty good (but not professional) body work and paint skills. this particular car has rust bubbles at bottom of both doors - i completely understand what is necessary to fix that and am comfortable replacing the lower door skins.
    but behind the rear tire, above the "beltline" there is rust coming through on one side. i am not sure how big of a deal that will be. there is also some rust coming through behind the front tire on one side. Does anyone know if these will also just be sheet metal repairs? or is this car likely to be a bigger problem? it has been sitting in a garage for 15+ years. about 25K miles on it. It ran and drove well last time it was started, but there is a fuel line leak. the mechanicals dont scare me, it is the potential rust.
    justin
     
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  2. jkg2101

    jkg2101 Karting

    Jan 25, 2015
    176
    New York
    Here is the rear rust spot and the one in front
     

    Attached Files:

  3. bitsobrits

    bitsobrits Formula Junior
    Rossa Subscribed Silver Subscribed

    Nov 12, 2011
    740
    Omaha, NE area, US
    Full Name:
    Steve
    As you probably know, there is always much more rust than you can see from the outside. And there is no such thing as "just sheet metal work" . Those comments apply to any steel bodied car, not just 308's. And if that paint is not factory original, it's pretty much impossible to assess by looking at the shiny side.

    I've only had one Ferrari but 40+ other makes/models over the years. The Ferrari is like 3x more expensive in terms of parts and time than anything I've ever owned (I do all my own mechanical work). Personally, I would spend more money and get a decent car with a solid body.
     
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  4. Schulz308

    Schulz308 Formula 3
    Rossa Subscribed

    May 21, 2014
    1,506
    STL USA
    Anything is possible if you want it bad enough.

    Have time and Grit?, Man up & Do It.

    Other Commitments?, Buck up & Buy a well preserved QV!

    Either one is great.
     
  5. ZikZak

    ZikZak Karting

    Dec 18, 2023
    171
    Vancouver/Los Angeles/Miami
    Full Name:
    Dickie Maxwell
    #5 ZikZak, Sep 14, 2024
    Last edited: Sep 14, 2024
    I believe Ferrari didn't start galvanizing the 308 until the '83 or '84 models. Go on Youtube and check out videos of bodywork/restos of these cars - they rust everywhere, and in critical places that are hard to inspect (frame). If you're seeing that sort of rust on the outside of the car, imagine what's going inside.
     
  6. mike996

    mike996 F1 Veteran

    Jun 14, 2008
    6,871
    Full Name:
    Mike 996
    Run, Forest... RUN!!!

    Seriously - been there done that. I took on a project that looked pretty similar and I also had/have mechanical skills and some experience with bodywork. Turned out that at every rusted area I inspected closely led to far more rusting. In some areas I could poke a pencil through the perfect-looking paint/body. Do not even consider this car would be my advice.

    OTOH, if you want to undertake it and are mentally prepared to spend the time and financially prepared to spend the money, sure, why not? But if you are looking for a car that you want to do maybe a bit of work and enjoy, this isn't it.
     
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  7. jkg2101

    jkg2101 Karting

    Jan 25, 2015
    176
    New York
    Thanks for the advice everyone. I am looking for a car to completely take apart and restore. If these two spots are the only rust areas that need to be repaired, then I’m OK with that. But I’m not sure what’s going to be underneath the rust and I also know some other parts of the frame are harder to see before I start taking the car apart. My fear is just what you’re saying, that if there is this much rust visible on the outside, imagine what’s on the inside
     
  8. rjlloyd

    rjlloyd Formula Junior

    Jun 19, 2014
    447
    Brisbane, Australia
    Full Name:
    Richard Lloyd
  9. jkg2101

    jkg2101 Karting

    Jan 25, 2015
    176
    New York
    thanks
    looks like your car had rust in the same spots at the car i am looking at. looks like it came out beautifully. congrats and thanks for sharing
    unfortunately, it seems like it is impossible to come out financially ahead on a project like this though
     
  10. rjlloyd

    rjlloyd Formula Junior

    Jun 19, 2014
    447
    Brisbane, Australia
    Full Name:
    Richard Lloyd
    I guess it depends on where a persons skill set is, I'm a mechanic so had no problem stripping the car to rolling shell and doing all mechanical work. I suck at body and paint so yes I paid handsomely for that to be done. Given I got the car comparatively cheaply initially and the value of these cars especially in Australia, I like to believe (though I'm too scared to ever add up the receipts) that I'd be close to break even, or possibly a bit ahead if I ever sold it. But I never restored the car with the intent of sale/profit. I just wanted to have a really nice 308
     
  11. mike996

    mike996 F1 Veteran

    Jun 14, 2008
    6,871
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    Mike 996
    "I like to believe (though I'm too scared to ever add up the receipts) that I'd be close to break even"

    After doing it once (HOLY MOLY!) :eek:, I vowed to NEVER again add up the receipts! :rolleyes:
     
  12. ZikZak

    ZikZak Karting

    Dec 18, 2023
    171
    Vancouver/Los Angeles/Miami
    Full Name:
    Dickie Maxwell
    #12 ZikZak, Sep 16, 2024
    Last edited: Sep 16, 2024
    Eventually the cost of ownership crosses a point of no return (literally); unless values appreciate astronomically (not just at the pace of inflation, which is really all they've been doing), a 308 will never be an investment.

    The way to buy a 308 is to pay for a good car up front - it'll be much cheaper in the long run.
     
  13. jkg2101

    jkg2101 Karting

    Jan 25, 2015
    176
    New York
    i have good mechanical skills, and mediocre body skills. The trouble is that I want a project to work on. So do I buy a car that needs a lot of work for 40, then put 40+ in it without my labor costs, or buy a really nice car for 75? although the 75K "nice" cars usually end up needing some bucks anyway...
     
  14. sack

    sack Rookie

    Nov 6, 2023
    26
    Germany
    Full Name:
    Marc
    It's hard to judge the amount of rust from the pictures, but if there's also rust in the underlying frame (and why should there not be) i doubt you will get a decent car for 40k + 40k. Another objection what comes to my mind, a 2V GTSI is not exactly what most 308-Lovers desire (most).
     
  15. Dr Tommy Cosgrove

    Dr Tommy Cosgrove Three Time F1 World Champ
    Owner Rossa Subscribed

    May 4, 2001
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    The right answer here is less about how much rust is on it and more about what you are paying.
     
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  16. Dr Tommy Cosgrove

    Dr Tommy Cosgrove Three Time F1 World Champ
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    May 4, 2001
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    Tommy
    The 80-82 model is my all time favorite and will always be.

    And I am a world class gold medal qualified 40 + year 308 lover
     
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  17. sack

    sack Rookie

    Nov 6, 2023
    26
    Germany
    Full Name:
    Marc
    Wow, didn't know that ;)
     
  18. Dr Tommy Cosgrove

    Dr Tommy Cosgrove Three Time F1 World Champ
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    May 4, 2001
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    Tommy
    There are a few of us out here.
     
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  19. sack

    sack Rookie

    Nov 6, 2023
    26
    Germany
    Full Name:
    Marc
    Carburetor rules! Carburetor rules! :D

    Back on topic, he said 40k for purchase, sounds too expensive for me due to the rusty appearance.
     
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  20. Imatk

    Imatk Formula Junior

    May 6, 2007
    768
    I suggest you look into prices of parts. That was the very very BAD mistake I made before buying my 308. Also, I would HIGHLY suggest you get an inspection by someone who knows these cars. That was the largest BAD mistake I made.

    The other issue that you will run into, and I have no idea the state of the mechanical, but if it doesn't run, that tells me that it's probably not great (mine ran and still cost me north of 20k to fix the engine and transmission), is that some parts are getting very hard to come by. And unless you're prepared to pay through the nose there are fewer and fewer people qualified to repair the NLA parts.

    I just sent my booster and MC off to get refurbished. It took me about a week to find someone who will do it because the two places that were recommended were no longer in business (person retired).

    If it was ME, I wouldn't buy the car unless they are almost giving it away. Meaning... if they let you have it for 5 grand or something.

    If it's anywhere north of 30k you're going to spend way more money getting it correct than you would if you bought a nice one.

    I hate to say that because, like you, I wanted a project. I had done a few cars before this and I like putting forgotten cars back on the road. But unless you have a very large budget... pass. Get a project car that isn't a Ferrari.

    .02 cents which probably account for nothing :)
     
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  21. Shark01

    Shark01 F1 Veteran

    Jun 25, 2005
    6,479
    Certainly appreciate your desire to restore a Ferrari. Like most on the thread, if it is a labor of love with no real budget, please proceed. If there has to be a financial consideration, you will either have to get the purchase down, select another Ferrari with more value headroom, or go with another car.

    For example, there is a Boxer at a place called Gullwing that some of us have discussed. Think they are asking $165k now. But once it is finished, you have more like a $250k car, so you have close to $100k headroom in a car with better upward potential.

    Just stuff to ponder.....
     
  22. Ferraripilot

    Ferraripilot F1 World Champ
    Owner Project Master

    May 10, 2006
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    John!
    If you really enjoy the work and it's part of the hobby for you, then go for it. Don't expect to profit off this thing though, it will eat a huge amount of hours and cash.
     
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  23. jkg2101

    jkg2101 Karting

    Jan 25, 2015
    176
    New York
    thanks for all the advice. i appreciate everything that has been said. i honestly think i would have to get the car for free to make a profit in the end. it would be a labor of love (i just turned down a really nice car at a fair price (expensive) because it didnt need anything done to it!), but the Bronx in me (I'm from the bronx originally) always wants to get a good deal!
    part of the problem in the market in general is Bring a Trailer, which sets unrealistic price goals for private sellers. i can not believe a 308 that has bad paint and needs a lot done just sold for 90K as a "preservation" piece.
     
  24. Dr Tommy Cosgrove

    Dr Tommy Cosgrove Three Time F1 World Champ
    Owner Rossa Subscribed

    May 4, 2001
    36,431
    Birmingham, AL
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    Tommy
    They are only original once.
     
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  25. jkg2101

    jkg2101 Karting

    Jan 25, 2015
    176
    New York
    "get a project car that isn't a Ferrari" -- probably really smart advice!
     
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