Can I get your opinions on a 328?

I'm assuming you have already had a p.p.i. done and a had the car checked out by a body shop. Due to the fact it will need a belt service in two years if it were me I'd try to get it down lower towards the 42 range. Are you buying from a dealer? If so is the car coming with a warranty? Does the car come with service records going back to day 1? The seats shouldn't be too badly worn down if it only has 27k miles. You can use the service records to double check the dates against the mileage to be sure the odo. wasn't broken or disconnected at some point.

 

If the last major service was done 3 years ago it needs its cambelts doing now. You should also look to see if the tensioner bearings have been replaced or not. At 30K you'll be into doing valve clearances.

 

IMHO, the price seems $7-$9K high to me... based on your description. I think you can do much better.

 

I'd say it's too high by $7-$10k. Don't pay that much for a car that needs a major. I'd be hesitant at $40k.

 

Jimpo, great minds think alike... and our timing on this was awesome.

 

Did you have a chance to test drive it?? Were there any leaks?? If not, then I would say $41k is fair price - budget $5K for major in a couple years. But if you get this one -
1) you'll get to enjoy your Ferrari sooner
2) You'll save on the additional travel expenses, PPI on future cars that might not even pan out.

Hope it helps.

 

Take the price you would expect the car to be and subtract about $3500 for the 30k service you'll be doing quite soon. That's the price you should pay for the car. I think about $41,500 would be fair.

 

I would pay around $43k for the car.

 

Why was the carpeting changed? Two reasons come to my mind
1. Car was in a flood
2. Carpet was worn because the mileage is higher. Sounds like the carpet's condition matches the seats condition?
You live in Boston. In 3 hours you can be there to see it in person. I would fly down and check it out. What someone says is perfect, is not my definition of "perfect". Before I bought mine, I looked at many, and was told by dealers that they were perfect. Yea, for a 16 year old car they were in great condition! I, like you, want the car to look like its 2-3 years old, and well maintained. I think the price is fair. you should pay what YOU think is fair and you should feel you got a good deal. I paid more then most 1989's, but mine is in pristine condition, not concours, but damm close, and it had its major. In some eyes, I might of over paid. But who cares, I got what I wanted. Thats how you should feel, no matter which one you buy. But fly down and check it out. get the car on the lift and see what the bottom looks like for your self. Not from a salesman telling you what he wants you to hear. I'm sure there are some in the Tri-State area, thats only a car ride away for you. Do your homework now, so you can enjoy the car.

 

I have heard that FL is one of the most expensive markets in the country. Maybe this accounts a little for the price (which does not sound exhorbitant to me, but I am used to the Bay Area market). Perhaps that it should get a belt change+ in two years should cause the price to come down a little--but $7K-$10K seems like much more of a price cut than you could expect. In addition to the 30K miles service, there WILL be other expenses, which you should budget for.

Get the PPI from a disinterested party. I would not settle for "Oh, we've taken care of it" from the seller. It should be checked by a pair of critical eyes. With the number of Ferraris in Florida, there has to be someone competent enough and who does not have a dependence on the seller.

On the other hand, finding a 328 with those miles--if they are true--is a very good thing. As the years pass, it will be harder get a 328 with low or moderate miles. If the car proves to be as sound as the preliminary data suggest, I'd give it serious consideration at that price range. The price should take into consideration the need for the major.

 

Well, trusting the dealer is one thing - but it doesn't alter the fact that its approaching 30K & so should have its valve clearances done & probably camshaft oil seals replaced amongst a bunch of other things. The fact that its had its fluids changed is great - but really pretty cosmetic. A reasonably competent home mechanic can do all that in less than a day - keep it in perspective.

As for the belts & tensioner bearings, the former are on a strict 2 yr/25K mile interval according to the manual. Although there is always much debate about the necessity of this & 99.9% of belts that come off at 2 years are fine, personally I don't mess with it & just get it done. Relative to the cost of a rebuilt engine its cheap insurance.

The tensioner bearings can be a weak point & if they go your motor is lunched. Funnily enough the bearings on my 328 were changed at the last cam belt change just under two years ago (at about 27K miles) because they were showing signs of wear. Expect to replace them.

These things clearly have not been pointed out to you by the dealer & since they are "good friends" maybe they should have been - you be the judge! Either way you have to be looking at $3-$5K of work in the next 12-18 months & some of it should definitly be done sooner.

As for the disparity in the value, this is a dealer sale & so it will have the dealer markup built in. You may very well be able to find an equivalent car on a private sale for a good deal less.

Other questions you might ask are:

What condition are the tyres in & even if they are OK how old are they? The tyres on my 328 are probably less than half worn but they probably need changing because they've been on the car since I bought it over 5 years ago!

How much life is left in the pads & rotors?

Does it have a stock exhaust & is it the original? If it is just how much life is left in it?

What state are the rubber water pipes in? etc etc etc

...don't forget this is an 18 year old car you are looking at.

328's are pretty bomb proof but any car at this age is going to need a bit of care & attention & bits will start to need replacing. Unfortunately Ferrari "bits" tend not to be cheap!

HTH

I.

 

Just to be pedantic, the US spec manual calls for 52,500 miles and no time limit on the belt replacement.

 

Tillman is spot on here, and FNA now recommends 5 years/30,000 miles as the service interval. This has been change interval for at least the past 15 years for the 308/328 series, and there has been no rash of failures.

 

If the car has records, checks out both mechanically, and by a body shop, I would pay up to $44k for this car. As you stated, nice, lower mileage 328's are not easily found, and asking prices are rather steep.

I paid $43k for a similar car three years ago. Door dings bug me, but are very easily removed by one of those Dent Wizard shops.

 

If you have a vin# I can run you a carfax. Let me know and I'll e-mail to you.

Jon

 

Hmmm...! Time for a call to Ferrari UK tomorrow morning to see what they have to say about it - thanks for that.

I.

 

I sure they will say either two or three years...I have heard of that before. That is just what your local importer recommends. Seems that the service intervals do vary a bit around the world. For all the newer Ferraris (355,360,456,550,575) FNA is now recommending three year/30,000 mile change intervals.

 

Amen. People tend to chime in with authority, "Oh, 2 years since belt change; need another one next year." Based on everything I have heard and read, subject to debate at least.

 

5 years is fine between belt changes. Sounds like a 43K car +/-. I do have concern as to why the carpets would be replaced.

DAve

 

I have seen a number of 308/328's over the years...and the carpet used is not the best quality. What seems to happen with age, is that (in tan) it will fade quite a bit...and even on low mileage cars, you can see quite a bit of wear at the door sill area. I bought a documented 29k mile 328..and the carpets had fading and the door sill area was a bit "thin". So I could see a picky owner replacing the carpets with new...just to make it look perfect.

Get the car inspected...if everything checks out, I would not worry about it.

 

EXACTLY my question, JayO. Every time I find a really nice 328GTS, it's $50K-$55K. Granted, I'm looking at cars with around 20,000 miles. (Some of the show cars are $70K+, but I don't want a 400-mile car that I have to keep in plastic bubble.) I don't even need red -- I really like black -- and I'm not looking at the late '88/'89s which seem to command a premium. The last car I passed on (at $47K) had 28,000 miles, was off-color, needed paintwork on the rockers and deck (resprayed nose already) and had a scraped up dash. The cars in the low $40K's are usually due for servicing.

I'm going to negotiate a bit on one of those $55K cars, which is really nice ('87 red/tan, 16,000 miles, one owner, fresh dealer service), but I know it's not going to drop much. Maybe it's worth it and I need to just take the plunge.

Sorry if I sound frustrated. The search for a great 308qv/328 is going a bit longer than I hoped - especially with the weather turning great all of a sudden ;-) At least I'm getting smarter thanks to all of you who post here -- great forum.

Jon

 

Maybe what we're seeing is the difference in perspective between owners and buyers. To owners all the prices look low, to buyers they all look high.

I know of a local 328 red/tan with up to date service and fresh paint that sold last month for about $35k w/ 30k miles. It needed the shift seals replaced ($1k), but other than that it was in great shape. I'm aware of another similar local car that sold for just a little more money about 6 mos ago that didn't have the service and had fewer miles.

As an owner, it seems every car I see sells for about $35-40K. If I were to put mine on the market today, I'd ask about $40k. It's fully serviced and has no issues, but it also has 49k miles. Anything over $45k should get you into '89 price ranges. Keep looking guys, your car will come.

 

Agree.