I'm so confused... | FerrariChat

I'm so confused...

Discussion in 'Ferrari Discussion (not model specific)' started by Perfusion, Jun 14, 2005.

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  1. Perfusion

    Perfusion F1 Rookie

    Oct 16, 2004
    4,151
    Marietta, GA
    Full Name:
    Aaron
    Sometimes, the market for Fcars really confuses me. Often, it makes me downright mad. I have long been a lurker on this site, and have a few posts to my name since registering (mostly in the Collectibles, Racing, and Regional sections, though). Like many here, I have no Fcar, but am constantly on the lookout for "the one" that might make me do something (financially) irrational to obtain it.

    What is making me most crazy these days, is the lower end of the Fcar market. Although I have long dreamt of Testarossa ownership, the wife says "YES!" but the checkbook (in terms of a cash purchase) says "No." Funny - isn't it usually the other way around?! At any rate, in desparation, I've begun the thinking of "maybe I should just settle for less." Afterall, there's no rule that says I can't have a Testarossa down the road. And wouldn't stepping into an "entry-level" car for a first Fcar be the wise thing to do anyway?

    Here's why I'm going nuts.

    This car is at Steve Harris Imports. Although it has somewhat of, shall we say, a "non-traditional" color combination, the mileage is extremely low and the price is (in my opinion), pretty damn close to what it should be for a quality TR.
    http://www.ferrarisales.com/more.phtml?method=lkup&firsthid=587&offset=0&qty=6&id=

    Moving on to something more local, I recently looked at this car at Silicon Valley Auto Group. The mileage is higher, the nose of the car is tattered with stone chips, the leather seats are worn and cracked (although the dash looked good), the LR wheel's center cap is shattered, and the service history wasn't immediately known by the salesman I spoke with. Oh, and they want FIVE GRAND MORE for it than the creampuff at SHI!!!
    http://www.siliconvalleyautogroup.com/ferrari_stock/ferrari_1853/photo_page.html

    Now, neither of those cars have anything to do with the bottom of the Fcar market that I mentioned earlier, so I'll move on. However, I will just say that it's comparisons like these that have driven me to the "entry levels", only to be disappointed by finding the same kinds of stuff. For example...

    There are cars like these, for this price, that represent what I *think* a $40,000 '84 308 should look like.
    http://www.hemmings.com/index.cfm/fuseaction/classifieds.cardetail/id/2201794

    But then there is *this*, which I have absolutely NO use for as I plan on actually DRIVING the car:
    http://www.hemmings.com/index.cfm/fuseaction/dealers.detail/hmn_vehicle_id/220817

    And of course there are the low-end cars with salvage titles and high mileage for low 20's. Did somebody say high mileage?

    What about this car at FOA - it has 116,500 miles on it, and they *still* want just under $30k for the car. Granted, it's the last of the carbed cars. But in with the emmissions in CA, why shouldn't I just spend 10k more and get an 84QV??? More power, better looks, no carbs to deal with, oh....and not 116,500 friggin' miles!
    http://www.ferrariofatlanta.com/cgi-bin/listings.pl?displaykey&225

    I decided that maybe the 308 was the wrong market to look into, so I checked out the 348s. They have an updated look over the 308/328 (although I understand they'll never share the "oohs and ahhs" over the design that the 308s have), more power, the TR "cheese graters" that I really like, and are down in price currently. To spare you guys the links, I'll just say that I've seen ads anywhere from "$40k FIRM" to $69,900. Obviously, a $40k 348 is one I might want to avoid, but it's still there in the back of my mind...chipping away at my sanity. "40k? That's '84 308 money! Should I avoid it like the plague? Wait - maybe I should snap it up?! Afterall, that's '84 308 money! Or is the 84 308 way overpriced? Hmmm...." (these are the thoughts going through my mind everynight before I go to sleep) Then I go on to thinking about the car for $69.9, and I'm back to the TR at Steve Harris Imports. <sleepy voice in head> "I like blue...it was my favorite color when I was a kid, afterall. I could drive that... I don't know about that interior, though. Ah, the hell with it. Maybe I should re-consider the high-dollar 348. It's probably a gem! What an opportunity! I could possibly have the nicest 348 on the market! Then again, for the same money, I could possibly have one of the lowest mileage TRs on the market... Hmmm....."

    ARGH! Do you see where I'm going with this!?!?!

    Then today, I was reading a thread here on Fchat, and I saw something to the effect of "20k is at the top of the market for a 308GT4." (http://www.ferrarichat.com/forum/showthread.php?t=62461) "Twenty grand?!" I said to myself... Naturally, the wheels started turning. *Back* to the internet I went. I found this one in my area - actually, it's the only one on Hemming's.
    http://www.hemmings.com/index.cfm/fuseaction/classifieds.cardetail/id/2199967

    After seeing the price, my head literally almost exploded. I give up.
     
  2. 208 GT4

    208 GT4 Formula 3

    Dec 27, 2003
    1,769
    Brighton (UK)
    Full Name:
    Dan
    If you get enjoyment from driving your Ferrari then the GT4 is hard to beat on price. It does lack a certain something in the image department which is why the GTS and GTB command higher prices. The 308s either GT4 or GTB/S will be far cheaper to run than a TR, but the TR garners more respect.
     
  3. Doug

    Doug Formula 3

    Nov 13, 2003
    1,473
    Louisville KY
    Full Name:
    Doug
    Don't try to use logic, just get the model that you like within your budget. Same thing happens with other makes of cars. The Porsche 928 is a wondeful car and cost almost twice the 911 of the same year. Yet all years up to @'94&'95 the 911 now costs more and a lot more were produced.
    Maybe you should just enter at the lower end of $ range with a well sorted/serviced car. Drive it for a bit and if you decide you want more, sell the car and step up to the next level. I started with a 308 QV, then a restored carbed 512bb, and now I am enjoying an under $20k 308GT4. My logic was that the Dino has room for a carseat in back.
     
  4. tvu

    tvu Formula 3
    Silver Subscribed

    Apr 13, 2004
    1,364
    Southern California
    Full Name:
    Trieu
    The TR was always my dream car also. But I started out with the 328GTB as an "entry level" ferrari. However, in the back of my mind when I'm in the twisties, I always wonder, how it would feel in the TR?? Just know that thought will always be with you, even though you have a Ferrari at the moment. So like you said, if you want to do something irrational - just step up to the TR, and no regrets. If you want an entry level Ferrari - that's great too, but just know in your heart, there is always that question.

    Happy hunting!
     
  5. Kieron

    Kieron Karting

    May 3, 2005
    153
    United Kingdom
    Full Name:
    Kieron
    What's your dream car? What car makes you go "oooh" and "aaah" when you see one? What car have you hankered after for years?

    Buy that car. Anything else won't be good enough in your heart, you will always want the dream car.

    If you have to save a little more, then save a little more. It'll be worth it in the end....
     
  6. bobleb

    bobleb Formula 3

    Mar 9, 2004
    1,258
    Las Vegas, NV
    Full Name:
    Bob Lebenson
    I've always liked the 308 GT4. There are 4 of them in the current Ferrari Market Letter, at a wide range of prices: $15.5K, $19K, $22K, $29K. The $22K one is in California. I know nothing about any of the specific cars, but you might consider one of them.
     
  7. JTR

    JTR Formula 3
    Owner

    Apr 26, 2005
    1,502
    in a house
    Full Name:
    John
    Hi Aaron, If you go the buy up to it route, I think it depends on what you want to end up with, and how much $$$$ you're willing to loose to eventually get there.
    You'd really like to have a TR, but if you go the GT4, 348, then TR route, you'll be paying a lot more money for the TR in the long run. Consider that you might well loose some on the purchase/then selling price on each car. You'll also loose the CA 7 3/4% sales tax. You'll also loose whatever you spend on maintenance and insurance for the car you're driving while saving or your TR. This is the somewhat no doubt flawed logic I used to ease my confusion.
    I've always wanted a 512 Boxer. Reason suggested that I get a 328 as a starter, but to what, see if I like driving a Ferrari? If you're even thinking, wishing, dreaming Ferrari, how could you not love driving one! If you take into consideration that you'll loose say 2K on the sale of the car after a couple years, the initial sales tax, the maintenance and insurance costs, you can easily loose 10K of your savings for the TR! At least that's my convoluted thinking, so I decided to skip the 328, and will be driving my Boxer home Thursday or Friday.
     
  8. Spasso

    Spasso F1 World Champ

    Feb 16, 2003
    14,656
    The fabulous PNW
    Full Name:
    Han Solo
    Aaron,

    1. First of all. Asking price and selling price are two different things. One is dreams and the other reality.

    2. Cars advertised as creampuffs aren't necessarily YOUR definition of creampuff. For example, I have word that the "low" mileage blue TR at SHI appears to have been driven and used a bit more than the mileage suggests. I was told that it could probably be had for less than advertised also.


    3. Be careful where you shop. Prices are higher in some parts of the country than others.


    4. Prices are higher in some publications than others.


    5. Dealer prices are usually higher than private owners.

    6. There is an Fchatter than just bought a GT4 for 13k after some searching.. It needs some work but appears to be a nice solid car. Click here to see it.

    There are hundreds of sites to pick from on the internet like www.ferrariads.com or Google Ferrari Testarossa.
     
  9. tvu

    tvu Formula 3
    Silver Subscribed

    Apr 13, 2004
    1,364
    Southern California
    Full Name:
    Trieu
    I would agree with John. If you go the entry level route, you are going to lose out on the sales tax, and maintenance. Just save up for the TR, and then some for the 30K maintenance too while you are it :)
     
  10. Kevallino

    Kevallino Formula 3

    Feb 10, 2004
    2,257
    Mid-Ohio
    Full Name:
    Kevin
    Nothing wrong with blue, for starters. If you don't believe me, check with Chiaro Slag who has a blue TR - I feel comfortable in speaking for him that he loves it...

    Next, you've got to drive the cars you're thinking about. I had two dream cars - the 308 which I'd lusted for since '76, and the 355 spider which my wife so graciously rented for me for my 40th birthday. I had decided to go with a 328 since I knew in my head it was a "better car" than the 308 - had the money in hand to buy one and didn't for a variety of reasons. Shopped for another 328, then drove a 348ts (348 was never even on the radar screen) and LOVED the driving experience - so much that I shook every cushion on the sofa to find the extra $$$ for a late 348 spider. Yeah, I've had some fettling issues with the car but that is behind me now and I love my car -who'da thunk it?

    So I guess my advice would be - if your heart is saying TR then chase a TR but go drive the car. In hindsight I'm not sure starting with an "entry level" car and working your way up is any smarter than just going t!ts to the wind and getting what you really want. There are some things I want to improve about my 348 and there are other F-cars I'd love to have but I don't see myself without the car I have now as even with the dramas I've had with it all that melts away once the oil temp is up and I'm caning it....

    Cheers
    Kevin
     
  11. Perfusion

    Perfusion F1 Rookie

    Oct 16, 2004
    4,151
    Marietta, GA
    Full Name:
    Aaron
    Definitely... And that's someting I've always known. If I were going to sell a car, I would price it at *least* a few grand over ask (assuming it's not a Yugo) to make sure I get "what I want" out of it. However, when I read on a reputable forum such as this that 20k is top dollar for a GT4 and then proceed to see one listed for 30 in the same day, it makes me crazy. If I see a car listed at 20, I think, "Maybe I could get it for 19 or 18.5." But when I see a car listed at 30, I know it would be an insult to offer 20 *at best*. Given that Carmel Valley (the location of the blue GT4 in my original post) is 1.5hrs from San Jose, not only would it not be worth the owners time, it wouldn't be worth my gas to drive down and look at the car, only to offer 20 and get laughed hysterically at.

    Oh absolutely...and most likely 95 times out of 100, I would shy away from a true "creampuff" on principle alone. It's well agreed here on Fchat, and I would imagine in the "real world", that driven cars (to a certain extent) are a safer bet than garage queens if you plan to drive them. I'm sure the blue TR could be had for less, but how much less, I don't know. If it's at 69.9, I could see it going for anywhere between 62.5 and 65, depending on the buyer and the alignment of the planets (i.e., the "X Factor" that has absolutely nothing to do with the sale of a car - just the moment). However, I don't think I could go in, offer 55k, and *ever* have a chance to be taken seriously at the dealership again.

    VERY true...and it goes for almost all makes of cars in demand, not just Ferraris. Even Mini Coopers fetch way more money in CA versus a midwestern state. However, when considering carb'd cars, I'd prefer to stay "in-state," as I could ask for the car to be smogged (and pass) as a purchase condition. Many of the (non-Fcar) pre-owned vehicles I see listed in the classified say, "SMOG'd and ready to go!" meaning, although it's not required, the car has passed SMOG as a sign of good faith the the buyer. I've just heard too many horror stories about getting a 70's carb Fcar to pass CA standards to consider a TX car or WV car. Know what I mean? Maybe I'm being *too* anal, and am passing up good cars, but hell - piece of mind is all you're really left with at the end of the day. Why give it up if you don't have to?

    Although I don't subscribe to FML, I'm sure it's true. I pretty much only read Forza and Automobile, and for entertainment, DuPont. I don't think I could ever buy a car from the latter on principle, and the former 2 typically don't feature classifieds. A place like the B-J Auction is another example - although Fcars have gone for really low money (the 512BB sold this year comes to mind in particular), I'd feel about as comfortable making a purchase there as I would on eBay.


    That's definitely a big reason why I'm searching places like Hemmings and FerrariAds.com. Unfortunately, many dealers seem to advertise on HMN.com. As for the dealers I mentioned, I frequently browse SHI's inventory b/c they're relatively close, and I got a really good feeling from Sean the first (and only) time I visited their showroom in person. As for SVAG, they're local - I can't ignore the opportunity to see fresh inventory in the flesh! FOA is another site I browse only because I grew up nearby, and my parents still live within a couple of miles of the showroom. If push came to shove and I just *had* to have something in their inventory, I'd have a safe garage a couple miles away to park it in until I could arrange to come pick it up or have it shipped.

    These are the cars that make my head want to explode when I see the $30k ads for GT4s!!! It's like, I *KNOW* these "bargains" are out there - I just always seem to *read* about them rather than personally find them! <sigh>


    Many thanks for the kind words, though, to everybody...your input is much appreciated.
     
  12. patpong

    patpong Formula 3

    Jul 6, 2004
    2,274
    Bangkok, Thailand
    Full Name:
    Patpong Thanavisuth
    Totally agree with Kieron, There isn't much logic to these bigboy toys we are talking about but dream cars. Of cause, you have to shop for best car at best deal but which model to pick... let your heart decide, not your head...
     
  13. LT-1

    LT-1 Karting

    May 13, 2005
    238
    San Francisco
    Full Name:
    Robert
    Perfusion,
    I bought my GT4 in San Jose 2 1/2 weeks ago. I did pay on the high end ($19,800), but with all the documented work done on the car ($40,000 in receipts since 1982, all done by Mark Spencer from FofLosGatos/Veloce) I felt it was worth the price for the extra confidence in knowing that everything was taken care of over a long period of time. Here is a list of work done and links to two photos. By the way, I found the car on Craig's List. There have been several local GT4's listed over the past year, keep looking and good luck.

    The car (cut/paste from original ad):
    Serial number 14768. Red with beige leather interior, sunroof, working AC with rebuilt compressor, power windows. Rust free and accident free California car. Professionally maintained and upgraded by Mark Spencer of Veloce (exclusively Ferrari specialty shop) and Ferrari of Los Gatos, around $40,000 in receipts. Handling further improved by Mark about 2k miles ago - suspension disassembled and powder coated, new bushings, tie rods, ball joints, stiffer rear bar, new Koni shocks, 16” 7s&8s Ferrari-style 5 spoke Compomotive wheels (original Ferrari center emblems), Bridgestone Potenza 205/55/ZR16, 225/50/ZR16 and proper alignment. I’ve driven a few other GT4 & Mondial – there is no comparison. Imagine driving a tube-frame, hand-made, mid-engine Ferrari with great sounding V8 and 4 Weber carbs, revving freely to 7700 RPM redline, while glancing at a classic aluminum dash, all for a price of an econobox. If you are a car nut like myself, you have not lived until you have owned a Ferrari. If you prefer driving to looking at the car show trailer queens (which this car is not, e.g. paint is not perfect), this may be your ride.

    Recent work done:
    New cats 200 miles ago, new racing fuel pump just installed.
    Italian Momo Acropolis Evo Racing driver seat (original seat included, or take $500 off without Evo).

    Major service around 2k miles ago:
    • Valve Adjustment/Retorqued heads
    • New alternator regulator/brush assembly
    • Replaced cam seals/belts
    • Replaced cam belt tensioner, bearings
    • Replaced crank bearing/seal
    • Rejet idle jets
    • Replaced various coolant hoses, including the front-to-back
    • Replaced brake hoses
    • Replaced CV joint boots

    Other work in the last few years:
    • Rebuilt water pump
    • Rebuilt radiator
    • Rebuilt distributors
    • New exterior door handles
    • New rear wheel bearings
    • New coolant overflow tank
    • Replaced thermostat
    • New parking brake handle
    • Refinished leather interior
    • Rebuilt AC compressor
    • Powder coated muffler cover


    Upgrades/updates in addition to suspension/wheels:

    * PermaTune electronic ignition system
    * Fire Extingusher/Passenger Seat mounting bracket
    * Hella European headlights
    * PIAA Superwhite Bulbs
    * Porterfield brake pads
    * Black wrinkle finish on valve covers/cam belt covers
    * Modern Momo steering wheel (original also included)
    * Polished aluminum shift knob
    * Dash cover, floor mats, custom windshield sun screen, car cover
    * Stainless steel muffler
    * Brand new door window seals and door seals ($261) included for installation.
    Included original parts catalogue, user manual, workshop manual

    The photos:
    http://img.photobucket.com/albums/v102/modconsf/P5090145.jpg
    http://img.photobucket.com/albums/v102/modconsf/P5090143.jpg
     
  14. DGS

    DGS Seven Time F1 World Champ
    Rossa Subscribed

    May 27, 2003
    72,087
    MidTN
    Full Name:
    DGS
    If you really want to go rubber-room, check the public bulletin board at the office. You'll see people trying to sell a ten year old pentium computer for $5K, trying to sell a 300cc motorbike for $30K, etc.

    Sellers are as individual as buyers.
    Some list a "firm" price, only to negotiate.
    Others (weirdos, these days) list a firm price and stand by it.
    Some are playing "trial balloon", based on P.T.Barnum's "There's a sucker born every minute". E.g., they'll only sell if they find some schmuck stupid enough to pay that price. (You see this on e/bay, too.)

    I imagine there are some "fiscal innovators" that put everything they own for sale at above the replacement cost -- figuring that the world is filled with idiots.

    I mean, heck: you could spend $5K on a major service, or sell it to some damfool for $10K more than the price of a replacement that's had "service done". (Don't get me started on the quality of services done on a car just to sell it.)

    The trick to buying a Ferrari (or any other "luxury" item, for that matter) is to not be in a hurry. You can skip the obvious dreamers, and feel out the high priced sellers with tenative offers (subject to PPI). If they won't negotiate, then move on. But wait for the car you want -- don't let the urge to own a Ferrari push you to get a car you don't want to drive.
     
  15. Perfusion

    Perfusion F1 Rookie

    Oct 16, 2004
    4,151
    Marietta, GA
    Full Name:
    Aaron
    Well said... I should print this out and hang it on the wall over my computer monitor.
     
  16. LT-1

    LT-1 Karting

    May 13, 2005
    238
    San Francisco
    Full Name:
    Robert
    Aaron,
    Drop me a line if you are ever heading up to the City. I'd be glad to go out for a ride w/you. If a GT4 isn't for you, you can find out without having to schedule a test drive with a seller.
     
  17. Perfusion

    Perfusion F1 Rookie

    Oct 16, 2004
    4,151
    Marietta, GA
    Full Name:
    Aaron
    That sounds like a plan... I'd love the opportunity to go for a ride. Thanks!
     
  18. BT

    BT F1 World Champ
    Lifetime Rossa

    Mar 21, 2005
    15,291
    FL / GA
    Full Name:
    Bill Tracy
    While many of us dream of the TR it is attainable to very few. Correction: it is attainable to some, and maintainable by few. I could have afforded a lower end TR, but I was afraid of the higher maintenance costs. Maybe I will have one someday, but I bought a car so that I still could smile if I got a service bill for $8k. I have spent $3k on service to get the car near new, but I don't feel anxiety about using the car this way. Buy what you like that you can afford to buy and maintain. You will likely enjoy the experience of using the car.
    BT
     
  19. burriana

    burriana Formula 3

    Jul 8, 2004
    1,675
    North Yorkshire UK
    Full Name:
    AL
    And whereas Chiaros blue TR is a gorgeous blue over biscuit interior (I currently have it as my screen saver!) ... the odd blue interior of the car you are looking at is pretty awful in my opinion and one which you would have a hell of a job shifting when you come to change it.

    That silver 308 is lovely though :)
     
  20. LT-1

    LT-1 Karting

    May 13, 2005
    238
    San Francisco
    Full Name:
    Robert
    Aaron,
    Here's another one for sale in your area:
    http://www.craigslist.org/sby/car/79050859.html
    It was previously posted in March in the mid 20k range if I remember correctly. Looks like he is open to offers now.

    My car just passed smog today, so I should be getting it back tomorrow. Let me know when you are up in the City.
     
  21. thecarreaper

    thecarreaper F1 World Champ
    Silver Subscribed

    Sep 30, 2003
    18,076
    Savannah
    #21 thecarreaper, Jun 22, 2005
    Last edited by a moderator: Sep 7, 2017
  22. Chiaro_Slag

    Chiaro_Slag F1 Veteran

    Oct 31, 2003
    7,789
    CA
    Full Name:
    Jerry
    Did you see the interior of the blue one he posted? Wow!
     
  23. aleventhal

    aleventhal Formula Junior

    Jan 11, 2005
    661
    Sparks, MD
    Full Name:
    Alexander Leventhal

    Well - I don't know anything about the gt4 you mention (link is dead) but be careful when anyone says the top of the market is X, etc. There are GT4s that would not be worth owning if they were given to you for free, and there are GT4s for which 30k would be an absolute bargain. Case in point, my series I gt4 (#10704, and NOT for sale) would be the bargain of the century for $30k: In the last year it had a bare metal repspray ($13k), a full transmission rebuild, new clutch, and major ($10k). This is on top of a full engine rebuild, top and bottom, 30k miles ago ($35k). This car has every book, tool, and record from new, and an original ICOR dino key fob (apparently worth $1.8k itself) and dino logo leather pouch to boot. If you want to own a great gt4 with all the stuff, $30k would be a very reasonable price of admission for a car like this - or, if you want a great $20k GT4, buy one like this for $30k (if one could be had for that price) and sell the dino key fob, original dino pouch, books (1974 dealer directory is a big $ item), tools, trouble light, brochures, etc. - they should bring $10k total - and you would still be way ahead of the game.

    I guess all i am saying is that a $30k gt4 should not necessarily make your head explode - it could be a very bad deal, or a very good one depending upon condition and what is included.......
     

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