Cheap 348 driver-$29K

I like that deal. OK so you sink $7K into a thorough 30K service, and spend a couple grand at the body shop to get everything right on the outside. Radio is a piece of cake. A/C probably needs new seals (don't they all?). You're in this car for $40K and I think that's a very liberal amount.

NICE!

 

CA car with what looks like Texas plates?

 

Or get $1,500 in parts, do the service yourself and not care about a few dings and nicks and drive the car for low $30's.

This car is not for everyone but it'll sell in no time if it's even legit.

 

I suspect that this car would probably bring tears if you saw it in person. At least the guy is honest... I wouldnt call it a "driver", most true Ferrari guys would probably be embarrassed to be seen driving it, much less showing it off to friends etc. Probably better utilized as a track car.
To get a turd like this presentable and reliable again would cost as much in the end as the market value. Why go through all that when you can buy a car sombody CARED for with the proper respect for such a car... for the same money in the end.
But hey, if you're comfortable driving around in a ragged out distressed exotic car, knock yourself out! If it runs and drives, its worth $30K

 

That car will be sold within a week for sure. Seems like a good deal to me.
BT

 

If you buy this car for $30K, you have $15K to play with to bring it up to fine condition, and still be in it WAY cheap. In Ferraridom, there is such as thing as distress sales. Happens all the time. I've bought all of my Ferraris from distress sellers and it's worked out great.

 

HUsker the car is too expensive if you tried to make it nice. It needs to be about 20k not 30k. In fact I know a white one for 20 and it is not selling. And basically those selling in the 40'2-50's are ultimately selling for lots less to move the cars. Occasionally one sells for lots but the owners sit on them for long amounts of time. I know a 355 for 65 now and 355spider in the 70's

 

I think the market for a nice / excellent condition 348 ts/tb is at $45-49k today. Cars selling for under $40k are gernerally either high mileage / low shine. The black one sold from Portland, Or last month was a good deal at $37k.
BT

 

Fatbillybob, I'd be interest in that white 348!

 

I look at it this way, I bought my '91 348 (a year NEWER than this one) for $41,500 7 months ago... flawless condition, maticulous documented service history.. ALL the work done by the same mechanic and shop for the previous 9 years (Joe @ Concours Ferrari, FBB knows him), needed nothing but an oil change, and the owner had it done the day before I took delivery. Joe himself even delivered it from Pasadena to me in Las Vegas for FREE!
The car has given me NO problems since day 1, and I just passed my first 1000 miles that I have put on it. The only issues my car has had have cost me nothing but some time and a few drops of solder to resolve.

Now, I got a GREAT DEAL on my car... but there are other great deals that come up from time to time... THIS car is NOT one of them.
There is absolutely NO WAY you could get this yellow turd up to NEAR the condition of my car, and only have $41,500 into it.

 

But we don't know that it's in bad shape. What does "nicks and dings" mean? What is a couple of missing parts in the interior mean? These may be non-issues. And who knows - it could have had a 30K service last year. Worth investigating for sure!

My own car was somewhat of a diamond in the rough that my F-chat brothers poo-poo'd off when it was for sale. Guy was asking $43K for it. It had ridiculous looking wheels on it, a dusty interior, a couple of Harley stickers on it. But the car still had a lot of great features - rockers and top painted to match the car, tubi exhaust, 23K miles, all books, toolkits, and even the original window sticker. Long story short, I bought it for $36K, spent $6800 on the best 30K that money can buy, put some brand new Michelin PS2s, bought and refinished some 355 rims for about $1K. Put a wax job on it. So I'm in this car for $45K. I don't think that's that bad.
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Send me the info on the white one. I need another parts car.

 

That's like saying the sun is 'kind of' bright! It probably took a backhoe to clean that up!

 

good point. Filled up a couple of shop vacs.

 

Damn. I want it. Can't right now.

 

It says this right in the ad...
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Mechanically the engine is strong, some oil leaks (find an older Ferrari that does't). Serviced at Roselli's in San Jose. New rear tires. INterior is average condition as well. Couple small pieces of trim missing. The radio and HVAC are not working at this time. They work sporadically so there is probably a small grounding wire issue. Roselli's can fix it easy, they did before. the 30k mile service has not been done since it isn't at that mileage yet.
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I'm not saying it wouldnt be worth fixing it.... i'm saying that WHY go thru all that trouble when you can just buy a car that DOESNT need all that hassle for the same ultimate investment in the end? Now, if the ultimate end investment was WAY below market value, then it would be worth it!
I just have this very strong feeling that this car has been abused and not respected. Also, its a bit suspicious is the fact that its a '90, but it has a '92+ front bumper cover and grill.

 

Read the Craigslist ad. Sounds like a fair description of a "driver" to me. I guess I don't read the book of information you guys see between the lines. $29k for a 348 with 23000 miles? If I were in the market, I'd be on my way to SLO to look at it for sure!

 

I'm with you brother. As long as the engine is tight, what's the problem? Kind of odd that there are no pix of CA license. Lots to check out, but we could do it in person and figure out what's what in no time. Worth a trip to an interested party.

 

Maybe the Stooges should chip in, buy it, and fix it up to stooge standard and sell it for top dollar as a stooge car. It would be mechanically perfect.

 

Thank you for this post, I have never even been to this section until now.

I thought I would have to wait till next year for a 348/355 believing them to be much higher. Now I can fart around in a 'newer' ferrari much sooner! Anybody seen a blue one?

 

I think this car is a steal... Anyone else notice that only 348 owners are the ones bashing it?

 

Funny.

I'm just a 348 wannabe wishing he didn't own a chopper.

 

And one sweet Chopper it is!

 

I think ten months ago I would have felt this was a deal, today I don't.

I bought my 90 ts last November for $33K. It's a 43,000 mile car needing a major. Asking price was $43K. After failing a leak down on the PPI I was able to negotiate ten grand off the buy. Well, since then I have spent 17K on a major, (including new guides) X-OST and new wheels and tires ($2300). Now the price tag is at 50K and the car still needs new carpet and at least a redye of the interior.

Now with the failing economy and prices falling into th $40's on excellent examples, I think that you are better off to spend the money up front on a well cared for car. I will venture to guess that the new owner will see $50K+ before it's over.