Could this be a good deal?? | FerrariChat

Could this be a good deal??

Discussion in '308/328' started by etip, Jun 4, 2004.

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  1. etip

    etip Formula 3

    Apr 4, 2004
    2,406
    Washington State
    Full Name:
    Eric
    I talked to a dealer who has a '78 308 GTS, 69,000 miles, black with decent re-paint from '83. He said it wasn't wrecked though. It has records, but no mention of the major services. He says that the A/C works, the power windows work, but are slow and noisy. He said that the turn signals don't work and the leather seats "could use a treatment". He wants $24,950, but will take offers.

    This will be my first Ferrari. Is this too much of a project?? Should I hold out and look for something with better records and no problems??
    thanks for your input.

    Eric
     
  2. Auraraptor

    Auraraptor F1 World Champ
    Lifetime Rossa Owner

    Sep 25, 2002
    13,968
    MO
    Full Name:
    Omar
    No major service, then the price is too high with those miles, IMO.
     
  3. etip

    etip Formula 3

    Apr 4, 2004
    2,406
    Washington State
    Full Name:
    Eric
    Thanks for the opinion. What do you think the price should be??
     
  4. judge4re

    judge4re F1 World Champ

    Apr 26, 2003
    13,477
    Never home
    Full Name:
    Dr. Dumb Ass
    $18k-$19k
     
  5. don_xvi

    don_xvi F1 Rookie

    Nov 1, 2003
    2,934
    Outside Detroit
    Full Name:
    Don the 16th
    Yeah, definetly fishing for high offers.
    I just bought a car without many records, so you don't have to run away, just negotiate price. I'd put it around $20K. $18-19 might be hard to get him to come down to, but more power to you if you can!
     
  6. BigTex

    BigTex Seven Time F1 World Champ
    Owner Rossa Subscribed

    Dec 6, 2002
    79,380
    Houston, Texas
    Full Name:
    Bubba
    '77s are better. There are a few out there. One in FerrariAds.com

    There is still a '76 Glass car for sale in FCA Newsletter.

    Sounds too much to pay to me for a '78. Just my opinion.
     
  7. amenasce

    amenasce Three Time F1 World Champ
    Silver Subscribed

    Oct 17, 2001
    34,432
    Full Name:
    Joe Mansion
    Weird that the car got a repaint only 5 years after being delivered.

    25000$ is too high for a car needing work and probably a major service too..
     
  8. BigTex

    BigTex Seven Time F1 World Champ
    Owner Rossa Subscribed

    Dec 6, 2002
    79,380
    Houston, Texas
    Full Name:
    Bubba
    One of mine got a new engine six MONTHs after being delivered!!

    "Things" happen. LOL! :)

    I wonder if I'll get a Heritage Certificate! It was under warranty!
     
  9. dm_n_stuff

    dm_n_stuff Four Time F1 World Champ
    Lifetime Rossa Owner

    Dec 10, 2003
    43,716
    26.806311,-81.755805
    Full Name:
    Dave M.
    I'd want to know if the re-paint was a color change, or the original color. If original, then gotta figure a pretty big wreck, or a VERY CARELESS original owner.

    Most likely a color change.
     
  10. Exoticbro

    Exoticbro Karting

    Nov 1, 2003
    203
    St.Louis, MO
    Full Name:
    Chuck Ligon
    Hello etip,

    This 308 sounds typical, most 308 windows are slow and leather usually does need to be treated. Are the seats worn real bad or ripped?
    My suggestion would be to make an offer subject to a PPI. (keeping in mind there is no record of a major service).

    I have a 77GTB available with 30k mi. red/tan.
    I know you may not be interested in a GTB, if you are call me at 636-273-6774 or e-mail me at [email protected]

    Chuck
     
  11. BigTex

    BigTex Seven Time F1 World Champ
    Owner Rossa Subscribed

    Dec 6, 2002
    79,380
    Houston, Texas
    Full Name:
    Bubba
    Hey the '77s new! When did it come in???

    Too late my garage is full! Gf's garage, too!
     
  12. f355spider

    f355spider F1 World Champ
    Owner Rossa Subscribed

    May 29, 2001
    18,044
    USA
    $18k tops, if it passes a proper inspection. Just too many better examples out there to accept a "rough" one.
     
  13. sjb509

    sjb509 Guest

    I don't own a Ferrari yet, but this is the type of car that my masochistic-self would be attracted to. On the surface it would look like just a few problems and you would be on your way, but then if you think about it, it would be easy to spend another $5k or more on the car.

    With no records I think most would agree that a major service would be a required. Assuming you did the work yourself you would probably have at least $2k in parts to replace the belts, spark plug wires, tensioner bearings, seals, & fluids.

    Assuming the seats are just stiff and showing wear, not cracked or ripped beyond simple repair, wouldn't another $400-600 be required to get the leather looking presentable?

    So far I've only accounted for half of the $5k, but there are other things that would no doubt need attention...
    Turn signals: These have to work before the car will pass inspection, who knows how many $$$.
    Window motors: can't these be greatly improved by dismantling and cleaning the cable and pulley system? With luck, not many $, but time.
    Others could include: rebuild of carbs, carperting, wheel refinishing, tires, suspension bushings & shocks, and on and on.

    After thinking about it, $20k would be a good price. After all the work the car would probably be worth $27-29k, fully serviced, IMO. Could be a lot of elbow grease for the new owner, but it would be fun at the same time. At least you'd get to know your car, and that the services have been performed for peace of mind.
     
  14. etip

    etip Formula 3

    Apr 4, 2004
    2,406
    Washington State
    Full Name:
    Eric
    Thanks for the input guys. I need to see how flexible he it on the price. I'm excited to get a Ferrari, but I don't want to end up with a lemon that taints the fun.
     
  15. Oblio

    Oblio Karting

    May 9, 2004
    129
    Puget Sound, WA
    Full Name:
    Todd R
    I redyed my interior leather with leatheque. It look very good and was not to hard to do. Took a couple of weeks to do the whole process. If the leather is stiff, try the rejuvenating oil several times. Call the leatherique people. They provided lots of advice that was usefull. I did have to replace one panel on the drivers seat at a cost of $400. Doing a whole seat is very expensive at well over $1,000 per seat using a kit and getting someone to custom build. Well you know that will be pricey.

    Slow windows are usually caused by congealed grease in the gearbox, (easy to dismantle, clean and regrease in about 4 hrs per at almost no cost), or poor electrical connections or ground. More time needed to trace those type of items.

    Keep in mind a used car always has hidden issues no matter how well inspected. 3 wks after getting my 308 the alternator went out. Pretty common problem. Had it rebuilt for a couple hundred bucks. I have always found that the first year with a used car requires a couple of repairs to get things sorted out.

    My main advice is get the best car up front. The cost of most of the fixes will cost you more than what you will save by getting a fixer upper. Plus you will be driving more if you get a good car.

    Good luck to you. It is a fun experience especially if you can do some of the work yourself.

    Oblio out
     
  16. Steve King

    Steve King F1 Rookie

    Feb 15, 2001
    4,367
    NY
    I just did a major on my 77 last year and I spent less then $500 for the whole deal. Belts , tensioners , a few shims , gaskets , oil/filter , plugs , anti-freeze , brake fluid . The bill for the 30k service that I have from the previous owner was $1800 for the same deal.
     
  17. Birdman

    Birdman F1 Veteran

    Jun 20, 2003
    6,689
    North shore, MA
    Full Name:
    THE Birdman
    I bought a similar 308 last year. A '77 with some known issues including needing a clutch and 40K miles. It had zero records and ran fine except it needed a carb sync...bad. Honestly, parts have been no more expensive than parts for a recent japanese car. I had the clutch done by someone else due to a lack of time last summer and that was expensive, but doing it yourself, the clutch kits are $400. No more than a clutch for a Honda or Toyota. If you can work on the car yourself, they are really not that expensive.

    The electrical system is simple and easy to fix (95% of electrical problems in these cars are in the crappy fusebox). I could probably fix your turn signals in an hour. It might take someone who is unfamiliar with the electrical system (but competent debugging electrical issues) two hours.

    I paid $18K for mine and have never regretted it for one second. I think $25K is steep for those miles with no documentation. However, I do not feel that 70K miles is excessive at all for a 308. (I just think that for that kind of money you could get a car with fewer issues.) The more they are driven, within reason of course, they better they hold up. A high mileage car that has been driven regularly will almost always have fewer issues than a garage queen. If you are looking for a concourse car, you will spend a fortune to make this car perfect. If that's what you want, save up and buy a mint condition car....it will be cheaper in the long run. If you want a nice driver that you actually drive, it's really not that hard to work on them and get everything working. You will begin to really enjoy diddling with the car on the weekends and pretty soon you will know it inside out. It's all part of the fun. Get the guy down to $20K and buy it. Besides, if it's drivable, you can drive it while you work out the bugs. I have been driving mine from the day I got it, and working on it when I have time. The more things I fix, tweak, and improve, the better it looks and runs. But I still get to drive it all the time, rather than saving up for a better car and wishing I had a Ferrari.

    Birdman
     

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