Looking for an opinion on a car that I have the chance to buy

Hey guys.. Im a new member to the board here and wanted to ask everyone a question considering the wealth of knowledge. Im about to purchase my first Ferrari and I have the chance to pick up a 1990 Ferrari 348ts. It does have a little higher milage than what I would like (58K) but it just recently had the full engine out service and also replaced a few other components such as altenator and such. Mechanically it "looks" like brand new and I would guess that since it just had the service, that internally it must be also.

Cosmetically it is in good looking shape also. No sticky dash/sun fading/leather stretched interior. Brand new tires and short of a few scrapes and nicks here and there from speed bumps and road debris it all looks good too.

I just sealed the deal and have the chance to pull the trigger on the car for $30,000. From what I have read and researched and watched the other 348's go for around the country with and without service that all seems like a good deal?

There is a similar 348 here in my town (Phoenix) that hasnt had any services and they are asking $39000.

So is my thought process correct? Does this sound like a good buy or is there something else that I should also consider?

Thanks for your help guys!

 

Yes.. that is the next step for sure. I already have that lined up. But thank you for the fast response! I have read dozens of places that the 348 engine is a "rock" so I wasnt as concerned with the miles as long as it was maintained...

 

Here is a question on that same issue.. the car lives in another state and I can physically get there this week to look at it. I was thinking about just calling a local dealer and having them do it. Any suggestions there also?

 

Hey there.. here is the update. First to answer your question Ferris, I saw that yellow one on there but it wasnt that one. It is the gray one that is on Ebay now. Definitely glad that I had the chance to look over the receipts. The listing makes it sound like the service was just done. Says that the $6500 service was done 30 days ago. Upon looking at the fine print, the 6500 service was for other misc trinkets like brakes, 02 sensors and redoing the leather in the interior. The ACTUAL belt service was done back in 2008. Granted it was 800 miles ago, but 5 years is 5 years.

This guy was a little bit of a jerk to me when I told him my reasoning about backing out. Told me that his "mechanic" (non Ferrari) said that it didnt need any services. He got a "apprasial" at Ferrari of Washington DC and they said that it would go for 41K. They "looked" at the car also. Basically told me after belittling my knowledge of the 348 (which I have been watching and waiting for a good one for years) that I should "just go buy a new Ferrari" and the 30K price only stood for 24 hours. Tomorrow it was going up to 35K.. What a prick. I wanted to say "hey jackass, your auction when you listed it the first time didnt even clear 31K in bidders" but I didnt. I was grateful for his time and left it at that.

But thank you to all who commented. I appreciate the info and will apply it to the next car I find. So the hunt continues. I have a scoop on a 1995 F355 Spider with the 6speed and only 40K miles on my hit list. Belongs a little old 86yo man who cant drive it anymore. I may be able to scoop that for about the same price. So Ill let you all know how it goes!

Thanks again!