Might have found a decent deal

I doubt that a "fender bender" would total a 348 Spider, you need to find out more of the history, if possible. It could turn out to be a flood recovery car. Are you going to be able to drive it?

 

Before I bought my 348 I read a bunch of threads on f-chat on how easy it is to spend 10-15k to get an f-car sorted. I thought most of this was exaggeration at the time. A year later I know that it was true. Beware of 'the deal'. Might be a good one but be cautious... Good luck.

 

You might be able to get it for $30K in this economy.

But I doubt you'll ever have any luck selling it in any economy. That's not a car that many people would buy at any price.

You'd be better off getting a cheap perfect 348 Spider at $50K in this economy.

Many people on this board will advise based on sound experience that taking a shortcut to own a Ferrari is a can of worms not to be opened. Afford yourself the opportunity of owning at the very least a "good" example of whatever model you desire; and if the money is not there for the model you desire, either choose another model or wait until the money is there.

Just my humble opinion.

 

Don't even get me started...go talk to Desorno and ask him how much it is going to cost to get into a decent 348 in my opinion...

 

Pass on the car. My rule is that if you buy a salvage Ferrari you own it for life unless it's a vintage GTO, of course.

 

A salvage title would be a 50 percent hickey for me personally. However, there's always a sucker who is willing to take the bet at a 10 percent discount. Woe be to that buyer, as it will actually turn out to be the MOST EXPENSIVE car not buy, not the least.

I remember looking at a 355 spyder a few years ago with a salvage title and it was being offered at a $20,000 discount, at $79,000. Had I bought it, that car would be lucky to bring $40K today.

 

I would say don't buy a salvage car unless:
1. You feel you are knowledgable enough to make an independent decision on it.
2. Future value is either a. not a factor b. going to be assumed at parts value or c. assured due to extreme rarity
3. You just gotta gotta gotta have THAT car.
If you can get past those requirements, buy it and drive it like ya stole it! After all, "salvage" isn't etched into the paint.

 

buy price: buy twice

It is possible to spend $50k on these cars, with the car looking ok and drivable. Not to mention, 80% of your potential buyers would not ever go near that car at resale time.

plugzit is wise.