Ferrari 355 Spider with a salvage title for $ 59 000:- Any thoughts?

There is a Ferrari 355 Spider on eBay with a salvage title for around $ 59 000:- for sale.
The car had a engine fire and was completely rebuilt. Any thoughts? The good, The bad, price? Etc!

Thanks

http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&category=6212&item=4555171249&rd=1

A webpage that shows the car being rebuilt.

http://www.specializeditalianrecycling.com/project-355.htm

 

With a good title, that is a max $70,000-75,000 car. With salvage title the price is crazy. Run the other way as fast as you can.

 

furgetaboutit!!!!

 

No. Pass. Non. Anka. Nein. Nyet...What's in your wallet?

 

not worth anything like that

 

Ditto.

 

While the above comments do all make sense, there is no doubt that the seller is being very honest and upfront about this sale.

I think it would be worth your time to do two things:

A) communicate with Rifledriver and get his opinion and to see if he would PPI the vehicle;
B) take the 2 hour trip to Sacto and see the car.

Then there are all the issues all others have indicated about 355's!

 

They also mention that they have no service history at all. That alone would hurt this car. I do not see any "buy it now" but I personally would consider this car if it was below 50k (45ish??). I would not buy it off of ebay though. Would only buy it if I could have it PPI'd and have all the "covered" areas inspected for missed damage. They do seem to have documented the repair thoroughly.

But at 60K...no way.

 

all this said, at the right price, assuming no bent frame issues, there is nothing inherently wrong with a salvage title

 

Flee! flee!

It should be 40% below market. If you have one hiccup because they goofed it can cost you $10k easy. You need a pad in case it doesn't work out and it has to be corrected.

The car or one like it has been for sale there for almost a year. I bought a sucky 355 that was NOT salvage and that was a nightmare. Imagine if you get it wrong. You better be a smart puppy.

$50k tops. PPI a must. Dude...check the price on some rinky dink part replacement.

 

Yeah but it takes forever to sell a salvage titled car especially a high end one. I've seen 95 spiders with as many miles and a service history go for $67-75k. The most I would pay for a salvage titled one with no history is $45k. Just think if you have the valve guide problems, manifolds, the list goes on and on.

Forza,
Kevin

 

Ummmmm. I think you mean "If you have one goof because they hiccupped."

???

 

Nope....I mean what they said. If they goofed...in other words did one thing wrong...causing you to have a hiccup later....it is $$$$$$


I bought a salvage BMW years ago. That is a business full of thiefs. I am sure these guys are fine...but understand this:

If you wreck you F-car the body shop will want to fix as much as they can get away with to make $$$$$ from insurance.

If a rebuilder does it his sole interest is to control cost and end up with more profit.

 

I wouldnt do it if i were you. I had a 95 F355 which i bought 6 months ago and the damn thing had all kind of issues. After spending 7k on servicing it still needed valve guides. I had to trade it in to a dealer and take a 10K loss on it. I would buy a 355 again in the future but nuthin without a full history and service documented. Just my 2 cents. Oh yea 58K is too high for the car

 

I don't do salvage cars or accident cars as they only appeal to 10%< of the market......and one thing I have learned in all these years is that the cheap people looking for insane deals on $hitty cars are a PITA to deal with.....you'll have to resell it later on and it ain't worth the grief brother. You could also have liability in the event of future issues.....

I am not implying you fall into that buyer category however, as I do not personally know you, so please do not take offence to my remarks....they are a generalization of that demographic client base quantified by my years of flogging chariots.

 

Run away!Engine fire===$$$$$!many hidden electrical problems can pop up in time.ECU's,Ignition,exhaust,AC,Alternator,etc.That car has been for sale for close to a year!

 

i have actually owned a few salvaged f-cars. as well perfect ones. It is hit or miss. I have had more probelms with my perfect 360 spyder then my salvaged 355 . Just do your homework. Sure it sells for less later but you paid less. It is all relative. certain wealthy people buy the salv, cars because this is how they got that way. spending less and putting the other money (savings) to work. Just depends on the type of salvage, who did the work, before and after photos, so on and so on. Just my opinion, but either way good luck in your F- hunt.

 

Looks like theylowered the reserve to $35K . Could this be a good deal?

 

35k no way. I will buy it for parts if that is the case..
[email protected]

 

if u do not plan to re-sell, nothing wrong with getting a salvage car and save like 15%.

 

one thought, I'd pay $25k for it.

 

Let's say you have it thoroughly checked and everything is okay and the car is destined to provide you a lot of fun. With a salvage title, the car will be your's for a very long time, if not forever. Prices on 355s are dropping like a rock. Wait six months and see if you can get a really clean documented car for your money. Interestingly enough, the same market circumstance applies to Maranellos. I'm watching those because it's becoming unbelievable what you can get a V-12 super car for.

Whatever you do, get a Ferrari. Even if it's an old beater. You will meet an incredibly great group of people.

 

Let someone else buy it, have problems with it, need to sell it, then YOU pick it up for 25-30K in 6-12 months. At that price, it is a reasonable deal.

Good 95s command about 70-80 depending on color/style etc. You can get a clean title higher mileage car that has a bit of wear and tear for 55-60. Why on earth would anyone pay the same for a salvage title car that will rust apart in the next 3 years?

Dave

 

I have seen this car in person while getting my car serviced at the "exotic car specialist in Rocklin."

I encourage you to jump on a plane and see this car in person before doing anything.

In all respect to the seller and you the potential buyer I will leave you with this advice, never buy anything salvage title without doing your diligence.

Mario

 

or, that someone buys it, car does not have a problem, he never sells. u r holding ur 30k and wait to buy a F355 spider 5 yrs from now. right?