looking to buy an F355

I've been in the market for an F355 (manual) for some time now, and lately one has come up that looks pretty close to what I'm looking for:

http://cgi.ebay.com/ebaymotors/Ferrari-355-Spider-Stunning-turn-key-super-low-mileage-all-services-done-red-tan-beauty-6-spd-/150734599493?pt=US_Cars_Trucks&hash=item23187b7545#ht_4629wt_1165

Anyway, I'm probably going to take a look this weekend, any last tips on what to look for re: potential issues/problems? I know about the potential for exhaust issues (seems this has already been taken care of), but there's still the valvetrain, and the dash. The price seems a bit high, I would think a car like this would go for closer to go from the high 40's to low 50's.

Or is there some other reason why I should stay away from this one?

 

Welcome to FChat

You will find a wealth of information on here by searching the threads and a lot of extremely helpful and VERY knowledgable people on here so enjoy. To get you started, here are the basics:

1) Have a full PPI (pre-purchase inspection) done on the car by a reputable source. There are many in/around the San Diego area so check in the 355 section or bop over to the Southern California section to find some references. The PPI should include a leakdown/compression check BTW.

2) Find out WHAT exhaust was put on the car - ad is vague - make a lot of difference.

3) As you know or soon will, early 355s had a known potential problem with rapidly-wearing valve guides. This did not affect ALL cars but is definitely something you either want to verify has been addressed or budget for it to be addressed and it is a pricey fix.

4) Exhaust headers and Cats - Again, find out WHAT exhaust was put on the car and whether is was just headers, resonator or the entire system. There are a ton on opinions on here but generally a Hyperflow/Tubi or Hyperflow/Capristo combination seems to be the popular choice for 355s.

5) MOST IMPORTANT - Make sure the car has METICULOUS and detailed maintenace records - every minor, every major, ever repair, every "upgrade" - in DETAIL. Given the mileage it may not have had a major (although it should have just due to time) so if it has had one or more make sure you know by who and EXACTLY what was done.

6) The convertible tops on 355s are extremely complicated and prone to having issues that are not only frustrating but can be expensive to fix. Just something to be aware of.

6) DO NOT just budget for the purchase price of the car. All Ferraris and 355s in particular have high normal maintenance costs and unexpected things can be very costly. The good news is this is offset by for the most part a total lack of depreciation but you need to have a "Ferrari Fund" that you can tap into and plan to dedicate to the ownership and maintenance of the car. This will allow you to DRIVE IT and enjoy it without fear of something breaking and without dreading your next major.

That should get you started - Again, the are a TON of people on here who have forgotten more about Ferraris and 355s than I know but I at least wanted to welcome you and give you some things to base your research and further questions on.

Lastly - IMHO a Ferrari 355 is without a doubt one of if not THE most beautiful and iconic Ferrari's ever made and brings with it a major sense of pride and ownership and every time you clean, start, drive or even look at the car you heart should skip a beat. The driving experience is unmatched and the sound and feel of the car is impossible to describe until experienced.

Good luck with the search and if/when you take the plunge make sure you enjoy every single minute of it.

Cheers

 

The price is actually unknown. I bought the exact same car, same year, same mileage for 35k back in september and it was a great deal.

Consider that I then had to change headers and do a full out-engine service and replace many parts so add 10k for that.

Mine was green and I noticed during my research that the green ones suffered in value versus the red ones by at least 15k

Add to that getting the sticky interior and dash redone and you have another 3k

That brings my calculation as follows:

40k value
10k major service, headers & parts
15k for the highly desirable red color
3k for dash & sticky interior

Total 68,000$

If you consider that you can have all this without having to put in your own time and energy into the repairs, that it is a 95 which is the best year and easiest to work with and that there is an aftermarket exhaust on it, anywhere in the 40's price range is unrealistic and I would not be surprised nor shocked if the reserve price is over 75k for that car.

As for the valve guides, a lot of noise has been made about it but the reality is that it is not as widespread a problem as people say it is.

 

Interesting statement Based on my experience, and many pro friends, I beg to differ!

 

Before I respond, I must mention that the name Hercules Rockefeller is the coolest name I've ever heard!

Now, I am basing my statement on the following post written by flatoutracing:

Here is the article and the link below

"1995 Valve Guides…….Fact vs. Fiction

For the most part Ferrarichat has been an immense benefit to me while owning my two Ferraris. However, in the past year or so, I have seen a propensity for people to make claims simply restating what someone else has said but not actually checking to see if the information is correct.

What is particularly alarming to me is the amount of technical information that gets posted on this site that upon further review is totally inaccurate. Even more alarming is that it keeps getting recycled by more and more people and then becomes gospel.

Most of you have probable noticed that I rarely get into technical debates. I am kind of like Tom Cruise in “Days of Thunder”….I just drive the damn thing. I barely know a spark plug from a drain plug and when some of you start talking about volumetric efficiency I am pretty much lost. But some of the posts are so inaccurate that it’s clear to anyone that some of you haven’t a clue what you are talking about.

It’s ok to have an opinion that 360’s are ugly, or that a true Ferrari has 12 cylinders in the front of the car, or that the F50 looks too soft or so on and so on. However some of you, many who don’t even own a Ferrari or the particular car in question, seem to have a propensity to re-inforce totally inaccurate information you have heard from others without even checking to see if it’s valid info.

What am I referring to…………………1995 F355’s and the issue of valve guides.

For the past three years I have seen many posts from people on the issue of valve guides on 1995 355’s. As most of you know I just recently sold my 1995 Challenge, which at one time was a streetcar.

The valve guide issue became a serious issue in selling my car. Some people flat out refused to even consider my car, despite the fact that it had no valve guide problem at all, while others discounted their offers by anything ranging from $2000-$7000 because of this issue.

I had one interested buyer tell me that he was given advice on Ferrarichat not to ever consider a 1995 model year 355 even if records showed the valve guides had been replaced because some dealers have lied about the work being done.

In the end I was able to show several interested parties that my car in fact had no such problem at all. The car had nearly perfect leakdown results (6-8% on cylinders 1-7 and 10% on cylinder 8). I also provided service records from day one (12/94) that showed no excessive oil consumption. A car exhibiting valve guide wear would burn oil and show excessively bad leakdown numbers.

I am absolutely amazed at the overblown hype on this issue and the amount of misinformation some of you spread on the Internet, some who don’t even own a Ferrari. I thought in order to clear some things up I would present my findings on the subject as over the past month I have spent close to 20-30 hours researching the issue speaking to people both within FNA, the factory in Italy and other outside sources. I spoke with everyone, ranging from FNA’s technical director, 4 different crew chiefs on 2 different dealer Challenge teams who ran 355 C’s, to the head of engine design for the 355 at Ferrari SPA in Italy (through an interpreter), as well as the 355 production manager there as well (he spoke English). In addition, a very highly respected Ferrarichat member on this board who worked on several Challenge teams for over 9 years and personally oversaw a few 95 Challenge cars, also confirmed what my findings were.

Myth #1:

All 1995 F355 have valve guide issues and need their original valve guides replaced

Fact:

Completely false. According to FNA technical director Adam Williams, only about 20% of all 95-model year 355’s experienced excessive valve guide wear and needed them replaced. And in fact, about half way through the 1995 model year the factory changed over to a different type of valve guide (the ones that they replaced the old ones with on the early cars).

Myth #2:

Some have stated that since the valve guides were not sintered (formed and hardened by heat and pressure) then accelerated wear will also be seen later.

Fact:

FNA confirmed that this has never ever been an issue. The problem stemmed from improper seating of the guides and if no problem occurred early on then it will not be a problem in the future other than normal wear associated with running the car. PERIOD, END OF STORY!

Myth #3:

Valve guide issues can occur at any time during the life of the car and are more prone to experience these issue in higher mileage cars.

Fact:

According to the Ferrari factory in Italy and re-affirmed by Adam Williams, 90% of the valve guide issue occurred almost immediately or within the first two years of ownership. The few that have occurred in higher mileage cars cannot be confirmed to have happened at a specific point in time and likely could have been present for quite some time. Certainly the older valve guides may wear out faster but they don’t go from being in good shape to wearing out overnight.

Myth #4.

This is only a US problem due to the high sulpha content in our fuel and that Euro cars had different valve guides.

Fact:

Sorry but totally false. It was a small problem on Euro cars as well and the gas issue is inaccurate.

Myth #5:

Valve guide issues were only present on 95 models.

Fact:

Also false. Even with the newer valve guides post 95 production 355’s problems arose. A bad batch of valve guides found it’s way into several 97’s and at least two 98 355’s. Ferrari of Washington alone had two 97’s and one 98 355 that had valve guide issues discovered when each of those cars had higher than normal oil consumption.

Myth #6:

If the valve guides were changed on a 355 by the dealer then there must have been a problem. In other words why would the dealers change them free of cost if there wasn’t a problem.

Fact:

The amount of disinformation being spread in the past few years made it impossible for dealers to move 95 model year 355’s, even ones that had later production dates and didn’t even contain the old style valve guides. FNA finally decided to have all early production 95’s changed over even if there were no problems.

Myth 7:

Only 95 model year cars had any engine problems.

Fact:

I have already mentioned a bad batch of guides in other production year models but in addition some 96 and early 97’s cars had connecting rod failures (issues with the connecting rod bolts). There are also a few 98 specific engine related problems.

It amazes me how much inaccurate information on this issue is repeated by people many of whom, neither own a 355, have any experience with them, or don’t even own a Ferrari or have never worked on them. Because half a dozen people claim something is valid doesn’t make it so. Remember 99.9% of the population at one time believed the earth was flat.

Regards,

Jon P. Kofod
www.flatoutracing.net"

http://www.ferrarichat.com/forum/showpost.php?p=74762&postcount=1

 

I think your pricing is spot given if the major has been done in the last 2yrs. $50k top.

 

well done!!! thanks for posting your findings. do you think you would have researched this in depth had you not been trying to sell your car? no disrespect at all. Thanks again for posting this...great information!!!

I would love an unbiased, well respected/skilled engineer's research on the matter. Because, as many of found out themselves, Ferrari comes out and says they messed up, let me fix it.

 

Frankly myself, I couldnt give a rats arse if the car I liked would maybe someday need valve guides. These cars are so much fun that I dont mind spending a few bucks to make it right. Yes, buy the one that has the lowest "real mileage"(unlike the one posted above), looks good to you and be prepared to spend a little to enjoy one of the funest cars made.

 

??? I am not selling my car ???

I do, however, admit that Ferrari does flat out lie about many things so we should hold a poll here to see how many 355 owners have needed a valve guide change

 

If you are "the" Herc Rock of corvette challenge fame you need to contact me. I have forgotten more stuff than I remember about Ferraris. You know who I am...#88 T1 racecar
part of the Oli T C5 mafia.

 

You'll need to qualify that poll. Some MY are not applicable.

 

Good info here. Thanks for posting.

I can only add that my car, a 1997 has had the valve guides replaced. As per the original receipt from Ferrari of Orange County "Remove cylinder heads, replace faulty guides". This was done "under warrenty" May of 2002 with 15,212 miles on the car. My car has a March 1997 build date.

 

OK first thing: lots of good feedback here, you guys are great and I really appreciate all the feedback. You all seem like a great bunch, and if I get myself in one of these cars I'm glad that there's such a great community of fellow enthusiasts here on this forum! I've been looking to getting into the Ferrari scene ever since I fell in love with the 355 spider back in '95, and I think about now the time is right.

This being said, I went over and checked out the car in person today. The owner let me drive it around the block a bit, and I have to say it seemed like a really nice example of the 355, pretty much everything I'm looking for. No weird noises, everything ran perfectly, car felt tight, interior looks new (a lot of work had been done here), major service recently completed. Car has an aftermarket exhaust system custom fabricated, seems like more or less straight pipes, it sounded really nice, especially at the high end of the RPM spectrum (but then again, all 355's sound nice up top). Exhaust headers were stock but seemed to be in OK shape... I know that these are a potential issue and often crack. Transmission and clutch felt great, paint was in great shape, and the convertible top worked fine.

Some questions I have at this point:

What's the cost of the valve guide replacement going to run me, assuming that is a big budget item I need to be prepared for?

What do aftermarket headers cost (fabspeed?), assuming those are going to go sometime soon too.

Being that this will be a CA car, does anyone know what the legal issues are re: keeping this car smog legal? Are any of the aftermarket headers technically legal for use on this car (OE numbers, CARB approved)? Does it even matter on a '95 that's OBD-1? Can I legally use aftermarket cats on a car from this year? Are there any CA smog advantages to having an OBD-1 car? Any disadvantages?

Hey man, yeah you got me! But don't worry, I'm still running the challenge this year, after winning Unlimited Class last year I have to defend my title LOL! My track destroying monster vette is getting ready for Buttonwillow at the end of this month, I'm shooting for a sub 1:50 or bust!

 

http://ferrarichat.com/forum/showthread.php?p=141127627#post141127627

Herc,

Read this thread it also pertains to 355. Valve guides can be expensive 20K is not out of the question because there always seems to be while you were in theres. With 355's leak down tests are mandatory NOT just compression tests. A good running 355 can fool you. No other Ferrari is as tricky to buy as the 355. Bottom feeding the low end of the 355 market is the riskiest thing you can do unless you know what you are doing.

 

Sounds like it has had alot of expensive work already done, specifically the interior. I don't know what the valve guides would cost to do on their own as most are done with a 30k engine out service. The Fabseed headers are $3k. There are several other options out there that go all the way up to $8k.

 

I had Stebro headers installed when I owned my F355 for I think $4k.

 

The valve guide replacement you should do if needed when you do the engine out service and it shouldnt cost you more than 5 to 6 gs added to your 6g engine out service. Dont be in too much of a hurry to buy your 355. Look at and drive as many as you can before you make up your mind. The one you drove today may fell great untill you drive a better one. If and when you replace the headers, go for Tubi and nothing else. The other stuff is cheap crap and it sells simply because.....well its..cheap. Stick to a 95. These cars run best without any cats but if your in CA then thats imposible so go to a hyperflow type of cat. Good luck.....you will love this model.