First Time Buyer

Rick,
Welcome to a new world of insight and fun.
I have chosen to be first to reply as I am an owner of only a few months, so much of what your contemplating is what I have already graduated from.

I own an 88 TR. Red and cream - love it!!!

Ferrari has a philosphy that I don't think many other companies have...The replace their cars when they come up with something better.
So this means that the 328 is just a better than the 308, but not has good as the 348. The 355 however is miles ahead of the 348, 328 and 308, but not so good as the 360

You get the idea.

So....if you are considering any F car keep that in mind. If you are looking for a 308, look for a 328 that meat your financial fancy. It will be a much better car ( although the 308 are a hoot to have )
If you look for a 328, consider looking into a 348.

This list goes on and on.

For me I was in 348 market. This is when I realized that I was slowly approaching TR territory. I also really began to think about what I would use the car for, and what I would be able to handle.

This is where the passion comes in - I always loved the TR and the performance is way greater than my ability. Further, I found a wonderful car.

The decision was just simple.

In my case - yes the TR is slower than a 355 , 550/575,360, yes it may be perceived as an "old ferrari", yes it my cause you to feather your hair, wear your Michael Jackson zipper jackets, leather pants and play with a rubix cube - But ******** it, I love it.

With the money I saved from buying the above mentioned cars, I was able to buy a TAhoe and a trailer to haul my car around ( important in a non dealer city)

So bottom line, if your budget is structured,then buy what you will be passionate about, what will siut your driving ability and needs. All ferrari's are magnificient and are impressive in their own right. But it is always good advice to buy the car that is designed for what you will use it for.

Needless to say - do all the smart stuff ( inspections, mechanicals, car work up etc ) before any purchase is made.Keep maintainance and all hat stuff in mind also.

Congratulations on embarking on a voyage of automobile excellence and most importantly fun

 

Rick,


Pick one and drive. I have a 360F1 and a 74' Dino GTS. Both are a thrill a minute and very different cars. I would have to say that the Dino gets more attention one the street and you just do not see that many. Also the Dinos are appreciating in value again so you won't loose your money. Easy to work on and it is not difficult to find parts. I am considering selling mine, if interested let me know. I'm taking it up to the FCA meet in Columbus, Ohio today, nothing like open air driving. Rick, join FCA in your area, go to the meets, meet local owners, get in the loop, read the FCA bulletin and ferrari market letter. I've never lost money purchasing cars from other enthusists. I think people who are passionate about these cars and their history go the extra mile to take care of these vehicles properly. The ferrari world is small, go to the meets you never know what you will find and you'll be amazed at how many people will let you drive their cars. Have fun buying your first, you'll never forget it.

 

60K will put you into a good 246GT. 90K will put you in a perfect 246GTs with a little cash left over to spend.

I drive my Dino regularly. It is a hoot to drive, and gets looks and compliments wherever I go. People stop me at intersections and ask questions, walk up to me in parking lots to chat, etc.

They do have some quirks, and all are 30+ yrs old. This is my 1st Ferrari, although I've owned plenty of other sports cars, and have an M3 as my daily driver.

I'll probably own another Fcar in the next 2-3 years, but, I'm not giving up my Dino.

Do some research. Spend a lot of time at the nearest dealer, get to know them. Although their prices may be higher than a private sale, it may be worth it. It was to me as a 1st time buyer.

 

Being naturally inclined toward the Vintage end, I'd go for the Dino. I think it's the best looking rear-engine Ferrari ever, highly desirable, and if you follow the advice in the previous posts regarding prepurchase homework, you should have an excellent investment.

 

The answer to your question about values dropping as new models are introduced is that the last model will drop the furthest. In other words, the 360 will be plummeting, the 355 will drop like a rock and the 348 will fall some more. Part of this has to do with the fact that the 360 has more room to fall. The 348 has already depreciated a lot. In my opinion, the 355 will become the best bargain of the lot next year. The 328's and 308's are now around 20 years old and are becoming collectable. Some are actually appreciating in value. The Dino has been appreciating for a while now.

The bottom line is to figure out what you can afford (factoring in a generous figure for maintenance) and find the best example of the model you like within your budget.

 

I'm just like you; I always wanted a Ferrari but never thought about being able to afford one until recently. When I realized that the older 8-cylinder cars were actually quite affordable, I set a maximum price I was willing to pay and then began looking for the best car in that range.

I thought I'd wind up with a 308 but was fortunate to find a good 328 in my range, and I've had 5 great months with the car, so far. Yes, I have had to pay for replacement of some original parts which have worn out, but that would have been as true (or maybe moreso) with an 18-year-old Honda as with an 18-year-old Ferrari.

So set a price you can afford and then begin searching. You should be able to find a good 355 or Testarossa for what you indicate you can afford. Happy shopping!

 

There are many 12 cylinder Ferraris you can get in that price range. NEVER get an 8(or 6) when you can have a 12! A Boxer, TR ,365GTC4, a lot of 2+2s including a 456 and even a 30k mile 550 can be had in that price range. Test drive a 12 cylinder can and you'll never even consider an 8 any more. And that's from someone who has had 2 V8s, 2 V12s and 2 flat-12s, me.

 

Rick,

Go to the "Sports Car Magazine" website and get their recently released book ($19.95), "Collecting Ferrari"
by Keith Martin. A lot of helpful comments there.

It would be easier to get advice if you state here what particular model you have your eyes on. I mean, you must have narrowed down your choice to 1 or 2 or 3 particular models.

For your price range, you can get an excellent 246 Dino, 348 spyder, 355 berlinetta, TR (or maybe a 512tR), boxer series, '95 or '97 456...and many more.

Good luck.

 

Hi Rick, congrats - a great decision to make!

I've been educating myself as a looking-to-purchase guy for about a year now, and would suggest you find a mechanic you can work with - the dealer in your area may be awesome, or there may be a good independent or two. I personally prefer the independents myself. You'll want them to do a pre-purchase inspection on whatever you find before you purchase - and I'd include a dealer car as needing an independent PPI. Don't forget to leave some "mad money" on the side to clean up the necessary pieces after you get your car.

I agree with the comments that the 355's are going to be a sweet deal coming up, but depends again what you like. I was surprised to find I preferred the direct steering of the pre-355's, but no doubt about it the 355's are much quicker and a "better" car, and easy to think of as a daily driver. For a 348/355, if you've got to drop the engine anyways, why not go with a 12 as Frank suggests. others say the 12's drive like trucks - I strongly disagree, but you don't know until you drive a few.

You may of answered your question with your username, 246's are gaining way more respect now than they did 20 years ago but how many miles do you want to put on a 30 year old car? It's all up to you.

If you're coming from a 427 replica you'd appreciate the torque of the 12's and their smooth and wide range. Keith Martin and others claim the 328 is the "best" Ferrari - low cost of ownership, minimal depreciation, well-sorted, what's not to like? This topic has been discussed 100's of times here on Fchat - do search the archives. 10,000 members - 100,000 opinions.

In general, imho - 246's are well respected, carb 308's have a strong following, 308QV's are now getting some attention, 328's are well loved everywhere, 348's cost more to maintain and had some early issues but do have some strong believers (I like their go cart handling), and 355's are the fastest and best daily driver. And don't forget the 12's, I like the BB512's, 365GTC/4's are a great deal (for some the 2+2's are the only practical option), TR's are a great value.

Take your time, have a lot of fun searching, and let us know what you decide! I'm sure everyone will have very different opinions, that's the fun part.

 

Rick ,
never rush into anything
Especially with the 430 out now, you'll never know what the other car prices will do ( Likely drop)

Anyway ferrari purchase is something that takes just as long as getting parts. Otherwise you may regret buying the car, lose money and turn sour on the brand.

Buy the best car you can, for what you need, for what you can afford.
Bottom line

All ferraris are great, headturning, chick magnets, etc etc

myhorse

 

Correction: the magazine's name is "Sports Car Market".

 

Welcome, but please recognize that none of these are investments, as such, and if you are buying a car for that reason, look elsewhere. The Dinos have been pricey for several years, and of the three models you mention, the only one that is collectible. It is probably the only one of the three that you can drive close to the limit on the street, and for that reason, it might be more fun. But, if you buy an old car with needs, throw away your wallet now; parts are not that easy, and quality work doesn't come cheap. As a matter of aesthetics, i think the Dino is fabulous, probably one of the best looking cars ever. As between it, and the 348 or 355, it will undoubtedly hold its value better.

As between the 355 and the 348, the 355 is undoubtedly the better car in almost every respect, but because of its power steering and size, i found it less involving to drive than the 348. (The fit and finish of the 355 is far better though, particularly of the interior).

Parkerfe is right, though. You should at least consider a 512BBi, or 365 GTC/4 or 330GTC in your price range. And, remember, there are no bargains:- a car priced well below market probably has needs that will make it cost waaay more in the long run. Make sure you have independent qualified mechanical and historical assessments made of any car you are seriously considering; the extra care and money spent up front will make all the difference in your ownership experience.

Good luck; the process of researching and locating a car can actually be quite fun, and you will meet some interesting characters, particularly if you go for the older cars, since you are less likely to be buying those from an authorized dealer.
There also are a great many knowledgeable people here, some in your geographic area, who can help as your search process progresses.

 

Price prediction:

308, 328 and 348s have been steady since the last years. 308s in the high 20s to low 30s, 328s in the mid to high 30s to mid 40s. 348s in the mid 40s to mid 50s, spiders around the 60s (they, Spiders, have lost a little over the past years).
355s have been dropping hard in the last 3 years.
360s have been dropping substantial in the last 3 years (from former premium cars to now as low as $ 120s.

Dinos have been steady, 512BBios have been steady. Both more of a slight incline.

Here is what you need to consider:
It should play only a secondary role what the price is doing on those cars. If you are looking for a driver forget the Dino and the 512BBi. If you are looking for a toy to tool around in and can spare the cash to maintain a vintage Ferrari with sometimes considerable time down when parts have to be located to keep in stock, then go for the vintage, if that rocks your boat.

Its a total personal decision. Nobody here can help you make it. An older car will give you more trouble than a modern one. Obviously.
A modern car will give you great ride comfort, like a working AC, better tuned suspension etc. Obviously.
A modern car will give you great track enjoyment in time trials. (does not mean a Dino is bad on the track, just a lot slower than a 348 for example)

When you get close to your decision I hope you will check out my website www.4Ferrari.com and see what we have. If you want me to give you a contact for a vintage Ferrari dealer I can gladly give you a personal recommendation. Those I usually do not deal in. (not that there is anything wrong with them, I just don't have that knowledge to answer the questions you may have)

 

You've come to the right place to ask for help. Best advice, go driving. Find out the quirks of everything in your price range and figure out what you want to do with a Ferrari. The one that makes your heart go pitter patter will be the best one for you. Then go out and find the best example of that model you can afford.

Drive, enjoy.

Repeat as necessary.

Cheers,
Erik
now looking for Ferrari number 3...