Looking at a black 355F1 | FerrariChat
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Looking at a black 355F1

Discussion in '348/355' started by Andrew Bolton, Jul 24, 2008.

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  1. Andrew Bolton

    Andrew Bolton Karting

    Aug 20, 2004
    155
    Spring, Texas
    Full Name:
    Andrew Bolton
    #1 Andrew Bolton, Jul 24, 2008
    Last edited: Jul 24, 2008
    Hey there. I'm in Houston and I've noticed a 355 F1 Spyder at a local dealer. I just got a chance to drive the car and here's a few of my impressions and a question:

    1) The car drives very nicely. A world of difference over my '84QV. The engine sounds perfect.
    2) The top doesn't seem to come down when the switch is actuated (not even the slightest movement--just a double-beep).
    3) There are absolutely no service records on the car.
    4) The outside finish is very nice with only minor scratches.
    5) The seats and center console are excellent (no bubbling).
    6) The right side dash by the air bag is THRASHED! It's just been sitting in the sun. It will definitely need a professional's touch.
    7) The mileage is 21.5K which is not overly low, IMHO.
    8) The emergency brake light (at least I HOPE that it's the emergency [and not the system] brake light) is constantly illuminated and won't go off.
    9) The rear deck lid does not stay up (unless I'm doing something wrong).

    Here is the car on ebay: http://cgi.ebay.com/ebaymotors/Ferrari-355-355-Spider-1999-Ferrari-355-F1-Spider-KenwoodExcelon-ALIPNEAmp_W0QQitemZ160261508907QQcmdZViewItem?hash=item160261508907&_trksid=p3286.m14.l1318

    Questions:
    1) I guess that we are doing something wrong not to get the top to budge (and yes, we unlatched it first). If not, what's the probable cost of repair?
    2) What's the probable cost of repair of the front dash?
    3) I am accepting as a matter of fact that no belt change has ever been performed and thus, one should be done ASAP. Am I right that this is a $2000-$2500.00 job?
    4) The car is advertised as a 1999, but it was made in November of 1998. That's a '99 model, correct?
    5) I haven't been following the 348/355 boards too much, but what items should I expect to have to replace in the near future if I were the owner of the car?
    6) Granted a PPI is called for here, but is the total lack of books a deal killer at 21K miles?
    7) Finally, I went to the dealership knowing what the BuyItNow price was ($67.9K) and I asked the salesman how much they were asking. After sizing me up for a few minutes he said $71.9K. I guess he figured that I'd "talk him down" to $67.9 and we'd both be happy.

    I know that this is hard to say with just these facts, but what would you consider offering on this car? I'm thinking $64K but that could be waay off.

    Oh yeah, the A/C blows cold but doesn't blow much in volume--very little in fact.

    Andrew
     
  2. Oengus

    Oengus F1 World Champ
    Rossa Subscribed Silver Subscribed

    Sep 29, 2004
    10,830
    Between timing belts/chains or West Palm Beach FL
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    Chas
    #2 Oengus, Jul 24, 2008
    Hi Andrew
    1. top could rust be bound, if not its probably a potentiometer which are pretty expensive, about $2500 if I remember correctly.
    6. repaired leather can pe 1k - 3k depending on how bad and how much is baked.
    9. rear deck lid is no big deal, theres two mini shocks that are just worn out.
    1,3,7,8 will all be answered with a good PPI, as far as the belt service goes 2k is pretty low unless they are offering the purchaser of the car a deal.

    If the price is right it might be a good buy, but 67k could turn into 80k real quick.

    0.02

     
  3. titanium360

    titanium360 F1 Rookie
    BANNED

    Nov 10, 2003
    3,446
    #3 titanium360, Jul 24, 2008
    stay away spend a bit more and buy a nice clean no headache car
     
  4. 285ferrari

    285ferrari Two Time F1 World Champ
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    Sep 11, 2004
    20,961
    MD and NE
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    Robbie
    #4 285ferrari, Jul 24, 2008
    First off, I called this dealer a few months ago about a 355GTB for a friend. The salesmen are morons. They know less about Ferrari's than my 12 year old son. Must be a problem with the top, you would think the dealer would know how to put it up and down. Another reason why they are clueless.

    The brake light could be a simple need of a adjustment to the cable, may be no big deal.

    The rear deck could need new struts. Non-ferrari struts are very cheap and work just as good.

    Front dash reapir could be costly depending on what is involved and who does the leather work.

    No service records mean===needs major service. You are WAY off with your belt service estimate. We all wish it was only $2500. Count on closer to $7500 if all goes well..

    Novemeber of 98 built date should be a 1999 car. Check the 10th character of the VIN---It should be "X" for a 1999 car...

    Finally, the dealer has the car listed on Ebay for $67K and he tells you, a serious potential customer $71K??? WTF?? Another example of the moron salesmen...

    WALK AWAY!!! Unless you can get the car much cheaper...
     
  5. James-NZ

    James-NZ F1 Veteran

    Jun 26, 2007
    5,822
    Hamilton, NewZealand
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    James
    #5 James-NZ, Jul 24, 2008
    To add to all the great answers above.

    The roof might be as simple as the doors were not shut or the hand (park) brake was not applied, to put that in simple terms when operating the roof the car must be in neutral with the park brake applied and the doors closed. Check that first, then look into possible problems.

    If you like the car all these things can be sorted except the lack of records. Buy it, fix it, drive it, if it breaks, fix it and drive it. Easy. :)

    This leads to a thought I have had, this car must have been serviced, so the business that did the servicing must have records of it, the ownership records will tell you what area the car was in and you could use process of elimination to find the shop that carried out the work and get copy's of the records. Might take a bit of ground work but will add value to the car if you ever wanted to sell it. Only problem would be if the business closed down, but still worth looking into on a "no records" car. If I w3as the dealership selling it I would definitely be looking for records.

    As Robbie said though, this one needs a major now.
     
  6. rllucero

    rllucero Formula Junior

    Jul 11, 2006
    559
    Santa Fe/San Diego
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    richontravel
    #6 rllucero, Jul 24, 2008
    +1 SO TRUE
     
  7. Loser

    Loser Formula Junior

    Apr 11, 2008
    791
    Gilroy, CA
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    Tom
    #7 Loser, Jul 24, 2008
    You can get a seat potentiometer for $120 - $450 depending on where you go. But if the top is actually not working, it can also be the ECU for the top/seats. This is my problem and it is a $2800 problem if I buy a new ECU or about $1000 + or - for a used one.
    The brake light can also illuminate if the brake fluid is low. My seals are leaking and the brake fluid needs to be topped off periodically. Not sure how much it is to fix the seals though. I'm working on other projects right now.
    If it needs an immediate service, I would allow $10K-$12K for that. So maybe assume the car need $14K worth of work, then see what fully serviced and working cars are going for. Subtract $14K + whatever you want for you time to hassle with it, and there's your offer. Unless of course the salesman will fix everything as part of the purchase agreement.
     
  8. gothspeed

    gothspeed F1 World Champ

    May 26, 2006
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    goth
    #8 gothspeed, Jul 24, 2008
    As James said above it could be just knowing how to use the top..... :eek:! .............. check the fluid level too!!!

    ...........keep in mind a nero 355 is about as good as it gets.................... :cool:
     
  9. TRScotty

    TRScotty F1 Rookie
    Owner

    Oct 12, 2006
    2,505
    Tyler, Texas
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    #9 TRScotty, Jul 25, 2008
    This car is at Expo.

    They are charlitans and are NOT to be trusted at all.

    You will be able to find a very nice car for a reasonable price in today's market. Keep your eyes open and you will find one that may cost a little more up-front, but that you will be able to drive for many years without $10k-$20k in repairs.

    I would avoid this dealer at all costs. I too seriously looked at their '99 355F1 GTB, but after a few minutes on the phone and some hi-res photos later, I knew better.

    Look at F-chat sponsor, DriverSource, they are in Houston and have a black/tan spider. They can also perform a PPI if you find one elsewhere.
     
  10. 285ferrari

    285ferrari Two Time F1 World Champ
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    Sep 11, 2004
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    Robbie
    #10 285ferrari, Jul 25, 2008
    That is the impression I got from speaking with them on the phone...
     
  11. Andrew Bolton

    Andrew Bolton Karting

    Aug 20, 2004
    155
    Spring, Texas
    Full Name:
    Andrew Bolton
    #11 Andrew Bolton, Jul 28, 2008
    Hey, THIS is why I love the Ferrarichat boards! You guys are not condescending and don't belittle those who don't know, and simply want to ask questions. I've been on other boards (not Ferrari-related) and the posters there are like crabs in a bucket, if you know what I mean.

    Thanks all.

    Andrew
     

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