Hi everyone, I've been seriously thinking about getting a 348 to the point that I might make an offer on one next week which is rare, but pricey as far as 348's. But I wonder if it is the right thing to do or if I shouldn't spend a little more to get into a 355. So my question is, if I wanted a 355, GTS/GTB not spyder, red/tan or red/black as preferred combo, <30K miles, year irrelevant (I'm fine with '95), 6 speed, not needing a major for 18-24 months, paint in good/great condition and with the valve issue documented as being fixed, what would a car like that run me without waiting for the bargain of the century? Could one easily find such a car for 70k-75k? Thanks for the insight
If price is of any concern I would stick with the 348. If you can comfortably afford the car and afford the extra money for the service then get a 355 as it is a better performer. The 355s are bound to drop a little more in price while a 348 is pretty much at the bottom of the hill. As far as getting a 355 for that price it might be possible. I've seen some 95s in the low 60s and the valve job is 15k if I read correctly so that puts it in the upper 70s if you have it done; then again most of them were about due for service. Waiting for a "bargain" Ferrari usually isn't the best option, they usually come with a bargain service bill. I was going to go with the 355 but settled on the 348 just a little easier on the wallet. Just my 2 cents.
Yes, for 70-75 you can find a good early model that just had a service done, or even a later model that might need a service in a few years. I paid less than this for mine, but needed some easy DIY TLC and is due for a major in 1-2 yrs.
First no offense to the 348 guys out their, I owned one for 7 yrs and like it alot....until I drove the 355. I was able to drive them back to back for quite awhile the 355 is worth the difference. Having said that, I own the 355CH not the road version and it is a little different. I am able to do service work myself so the cost of ownership really has been that much different. Regards, Vern
If you are thinking that you will not have money to spend for 18-24 months on whatever you buy, Ferrari may not be the way to go for you unless you are buying a new one. You will end up an unhappy Ferrari owner. You need to plan on a few k a year in costs that may come up, and be prepared for a 5-10K service at anytime if something goes horribly wrong. If you plan for that, you will be a happy Ferrari owner. Even happier if everything runs perfect and you can spend your money on fun things like exhaust, interior replacement, Ferrari statue for the garage, etc.
Hi, thanks for the help. I do completely understand it, and I'm planing on keeping a reserve no matter what car I buy. My comment of 18-24 months was just about wanting to buy a car and enjoy driving it as soon as I get it and not having to deal with the hassle of a major service for a while assuming all goes well.
I'd definitely recommend going with a 355 since it's really not too much more, and IMO you get a lot more car. Drive them both, and I don't think it will be hard to reach a conclusion. As an example, my '96 355 spider with 19k miles is for sale at $75k and has several serious buyers. Valve guide replacement and 30k service were done about 2 years ago and currently doesn't need any work to be done. Slightly shrinking dash and the easy to fix blower controls stickiness. With the extra power (and beautiful sound to go along) and the more modern looks, I don't see a reason to choose a 348 if both are in your range.
Thanks so much for the replies. So just to make sure I get all the potential pitfalls, let's take this car as an example: http://www.cars.com/go/search/detail.jsp;jsessionid=NIBFOZRGETQBNLAYIESU2VA?tab=summary&paId=133852469&recnum=3&actLog=true&tracktype=usedcc&pageNumber=0&numResultsPerPage=50&largeNumResultsPerPage=0&sortorder=ascending&sortfield=PRICE+ascending%2CPRICE+descending&certifiedOnly=false&criteria=K-%7CE-ANY%7CM-_51_%7CB-80000%7CH-%7CD-_1402_%7CN-N%7CR-10000%7CI-1%7CP-PRICE+ascending%2CPRICE+descending%7CQ-ascending%7CX-popular%7CZ-20016&aff=national Asking $65K, '95, 20K miles, claims major service 1/04, berlinetta/red/tan/challenge grill (exactly what I want), non standard wheels which are OK (not great). Carfax is clean as far as I can tell. Assuming a major was done in '04, what would you guess I'd need to factor in to deal with any other issues the car might have like valves, headers etc, another 10-15K? And the big question in my mind, is if I got a car like this one today, could I drive it for the summer (maybe 1500 miles total) of spirited driving and deal with maintenance at the end of the year or early next year, or would that be a huge risk? I realize this is hard to answer without a PPI, but am curious as to what people think. You guys are very helpful!
on that one proof of the valve guides being done would make the difference. If they're not done, I wouldn't take it. If they are, then it seems reasonable. My car had it's timing belt done in 1/04 also and I'm planning on doing it again next year.
got the bug, eh..... Can't beat a 355! If it were I - run CarFax then make offer contingent upon buyer obtaining satisfactory PPI and reciept of appropriate service documentation set aside $10k - so whether the car needs work or is not to your satisfaction upon delivery, you've got clutch, brakes, tires, annual service and/or other pecularities covered and your not zipping around town and then look stupid for not being unable to pay the freight. In the end if its about sleeping good at night you might want to stick w/ the 348 and trade next year if so inclined. Good luck!
Well I have been searching for many many weeks before posting and have gotten a lot of answers that way already. As far as market values go though they seem to change quite a bit even relative to last year and I figured getting the most recent opinions was a good way to go. For everyone else who posted helpful info, many thanks! I hope to join your ranks soon.
65k is a little high. I'm sure he has a lot of room to work. Although Ferraris sell for more in spring and summer. If you want the best deal wait until November. I wouldn't get so hung up on the valve guide thing. If it happens it happens. A lot of them have already had it done and you will never know.
Yep. This car is on a buy-here-pay-here lot. You know he is at least trying to get 10k out of the car so he probably paid 50-55K for it at auction. I've seen 97 spiders going at auction in the 60's. I'll bet he could get that 95 355B for 58K.
Don't take my comments the wrong way my friend... When I was new to the forum CHAA would always tell me to do a search when I would ask similar questions, or about Tubi vs Capristo, etc.... And he hasn't chimed in for quite some time now and your question is one that he probably would have popped in with that response so I had to bring it up... And I do hope you join the ranks soon... You will LOVE the 355 without a doubt...
Not taken the wrong way, I truly appreciate all the help you guys are giving me... I just hate to come across as a total newbie So an update on the car above: Carfax is clean, 4 owners, started in FL then went to atlanta. It was regularly serviced at Ferrari of Atlanta. In august 2005 at 15,846 miles it went to texas, presumably to a dealer. It was sold in NY in Feb 2006 and is now for sale again and has 17,224. The people selling it faxed me the records they have that are just for Ferrari of atlanta. They have no records before or after that. The work done seems to be: no records before 1/04 1/2004 - Major 30K service 3/2004 - Fix some electrical gremlins, repaced CV boots, changed rattling cats with a new Catalyst DX 355($2200!), fixed oil leak from heat exchanger to gearbox 12/2004 - "check engine 1-4" is on, $1200 fix with 4 spark plugs and harness ignition cables. The notes are : "Needs leakdown test. Wires damaged from water, 1-4 bank running rich, check vacuum leaks and bad hoses need to do compression test". So I guess this means in dec 2004, the leakdown worked out... The guy who is selling the car is willing to let me do a PPI which is good... So, based on this info, should I try to go ahead and get a PPI on this car or pass?
im sure im biased but my similar 348 spider that is only one year older (and has hre rims and 360 style roll hoops) will save the buyer about $20000.
I would'nt assume anything regarding leakdown/compression test. Thats as big a red flag as they get. Call FOA and see if you can find out more?
Yeah that is what I think as well, not worth it. Working through this example has been very helpful. Thank you everyone.
