High Mileage 308's - How many are out there?

OK,
I am looking a purchasing a 79 308 GTS with 121,000 miles. It was a one owner car from Atlanta with full records, both tool kits, targa cover and owners manuals with leather pouch. It had its last major in early 2006. 1500 miles since the last major with no other work needed in the last 2 years. Was traded for a new Maserati coupe. It is currently stored in my garage on a lift. I have looked at it along with Bill (SMS) who lives nearby. Compression test was good at a consistent 170 lbs of compression. We test drove it for an hour and it performed great. The only thing was the heat did not blow warm. Could be a heater cable not opening all the way. Paint in great shape, rust in doors fixed 10 years ago and completely repainted and has not come back. On the lift everything looked correct and unmolested and in good shape. Records show multiple majors, but not a valve replacement.

So, here is the rub. If this were a 50-70K mile car I would not be as worried. The fact that it is 120K is the only thing that has me worried. Aside from that I would be very excited to own this car. I think I can get it in the low $20's

How many other 308's are out there with 100K+ miles (or assumed as I know odometer cables are easy to disconnect)? Are you owners of high mileage cars worried or do you think of it as any other car with 100K+ miles? Should I be worried or just drive it and enjoy it. I typically keep cars for 4+ years or longer.

Thanks

Charlie

 

It sounds like it's had an enthusiastic and caring 1st owner. Your main concern should be that if you need to sell it the mileage (rightly or wrongly) will greatly affect the value, so you need to be sure not to pay too much in the first place.

 

BTW my 208 GT4 had over 100,000 kms and now my 308 GT4 has 81,000 miles.

 

There have been several threads about 100+ mile 308's - it it works fine & checks out fine & the moneys fine : jfdi

 

My 84 has 100,400 on it. It had 57K when I bought it in 1997. Runs fantastic still

 

Well I'm 1/2 way there anyway!!!

 

Mine's a 328, so it's not an apple-to-apple comparison, but it has 103,000 miles and is running fine

 

If you were going to keep it forever, then I would say go for it based on the posts above. But, as you say you keep cars four years or so, then it might be worth asking what is the car really worth now.

I have a Harley with 120,000 miles on it. It's worth practically nothing compared to a new one. It's priceless to me. On the other hand, there is a bare minimum for a well cared for and completely maintained running Harley. I think that is what you are looking at here. What is the bare price for a well maintained running 308? Probably 15 - 20 K in my amateur opinion.

You can get a 308, of some variety, with half those miles in the low to mid 20's. Not easy, but possible.

Hope this helps .

Seamus

 

Measure the oil pressure cold and hot at idle and at a given engine speed with a calibrated gauge, and compare to a 308 you *know* is healthy.

Look at things like suspension bushings, dampers, springs, ball joints, etc., that may cost you money in your first few years of ownership, and factor that into the price.

See if you can get it for $20k. If you're looking low-mid 20s, then there are other choices out there. Call on some cars for sale with mid-20s asking prices and see if they'll budge. However, you also have to factor acquisition costs (travel, shipping, etc.) and consider that with this car you won't be spending that money.

If all of the above checks out, in addition to your already performed inspection, then go for it. Enjoy it, don't worry about putting miles on it like a lot of these guys do, and take solace in the fact that it has an excellent service history and you know the odometer hasn't been disconnected or rolled back (unlike many 308s . . .)


BTW, I had no hesitation to buy a 70k mile car, but literally everything on it was rebuilt in the last 20k miles.


Tony