Mondial VS 308!!!! I know this has been asked before!

So I have been reading on threads about buying Ferrari's, especially "starter" ferraris. Well here is the deal. I have two options

1) A 1985 Mondial (QV I think) Black on tan with 100k. Thats right 100,000 miles. HOWEVER two things about that. 1) It was inspected by a ferrari dealership and I know what it needs, belts, somes leaks etc. Basically 5k in work. The interior and exterior look AMAZING. I mean better leather than my current 2007 Porsche. So that says something about the owner. Finally I can get it for 13k. I maybe can talk them down to 12k but it was hard enough getting it down to 13k so lets assume thats the price

2) A ferrari 308. Specifically an 1985 owned by a ferrari mechanic. He is going to restore it for me and its got a completely rebuilt engine. Its going to be a top notch car when done. Belts and all just totally ready to rock. I noticed rips in the leather, that can be fixed. Most importantly the mechanics of the car are all completely awesome. It has 37k miles on it and I can get it for 25k

The question is what should I do? I know its hard to re-sell a Mondial but considering after repairs I'm into the car less than 20k, if I want to sell it will it really be that hard? I test drove the Mondial felt good, amazing ferrari sound but what do I know I never had one before. The 2+2 seats mean nothing to me because I always have another car I can drive. However I do want this car as a daily driver. I do about 4k miles a year mostly city.

Thoughts? I would really like input on what would be a better car to own and drive as my first. I like the refined look of the Mondial, which is a coupe and that makes it look a lot better than a convertible. But the classic ferrari of the 308 is great too. I need input!!!

Thanks so much!
Adi

 

Is the 308 GTB or GTS ? GTS much more fun - but the description of restoration makes me wonder when you'd actually receive it

Buy both so you have the Mondial until the 308 is ready then if takes time to sell the Mondial its less of a problem !

However its not easy convincing folk that these engines can easily do 100 000 miles if looked after

 

I don't know which gts or gtb but yes it's about a 2-3 month wait, I figure I will probably sell the car at around 115k, I have the hope the someone will want a mondial coupe in a great color combo and I will have it serviced too with records, I would probably try and sell it for around 15-20k

Ps - it has a removable top I read that's a gts but not sure

 

Which one are you more comfortable in? Do you need extra room back seats etc. If the 308 is a gtsi and you are going to use it as a daily you need to make sure you can fit comfortably with the top stowed behind the seat. What is your budget how much will you have left over after the purchase.
Best thing is to drive both and see which one calls to you more.
I wanted a 308 all my life and set about getting one this summer and a dealer put me in a mondial coupe and I fell in love. I didn't buy it right away but every car I looked at I compared to this car and a couple of weeks ago I purchased it I knew it was right.

 

I'm a 4 seat guy, that is why I'm happy with my Mondial. The back seats and extra storage have gotten extensive use by me. If you are looking for the best sports car comparing the two side by side I'd go with the smaller lighter car, the 308. As a DD I'd probably go with the Mondial. Both cars share the same drivetrain so it's really your call and what you like better. I think a 308 with a restoration should be closer to $80,000. I'm guessing your are talking about a refresh of the engine bay, new fuel and cooling lines? To me a restoration includes a full repaint, new interior, engine rebuilt, etc.

It can happen that the best car is not always the one right in front of you. Or it might be. I purchased the first one I looked at and drove and it has been in very good shape overall.

 

IMHO it's all about the style and what you like. I am bias to the 308 and the 2+2 style cars aren't to my liking. It's what YOU like.

 

This is going to sound snitty, but I'm speaking from experience (1967, Series 1, Jag E-type convertible):

If you don't know that all 1985s, 308 and Mondial, are QVs, and don't know the difference between a 308 GTB and GTS, I suggest you get more familiar with things. It sounds like you're buying with your heart more than your head, as I did with that Jag. Passion for sports cars is what it's all about. But they are also mechanical things.

My Jag's engine, I found out after joining the Jag club and going to shows, had the top half (cam covers, water cooling jacket, etc) of a 1968 (Series 2) engine. Never figured out why the changes were made, but probably the reason it never ran as strong as other Series 1 cars I got to drive. The water jacket hose blocked off with a large bolt stuck in it should have been a clue.

I've had an '85 308, and '86 and '93 Mondial Cabriolets. The seating position and driving experience are fairly different between 308s and Mondials. Drive them as much as the current owners will let and see which feels better.

 

Buy the mondial and don't fix anything. Just drive it. Any money you put into it you will never get back...

I would love to buy a mondial for $13k...

 

1966 Jag E-Type FHC owner here. Out of curiosity - is your car a so-called "series 1.5", or was the cam cover swapped out? Some 1967 cars have the later series 2 bits on them.

My car has a head from a 1966 Jaguar sedan - essentially little difference, but the mechanic knew from the stampings. I couldn't care less, but I do agree it pays to research and know as much as possible...

 

I think OP might be in the UK where there are 50 000 mile Mondials selling for that money

 

Car was a Series 1.5. The only official difference from the factory that I know of was open headlights. The engine stuff I mentioned clearly was a butcher job. I had the car from 1980 to 1985.

A friend of mine had a 67Austin- Healey 3000 that had 67 front turn signals and 68 rears. At a national meet in 1978 that we both attended one of the Healey sons said they did change bits over as old parts ran out. Of course Healey was smaller than Jaguar.

I doubt either of them would kluge engine parts like cam covers during transitions.

 

I would say he should do a service, don't want to have the belts go and have nothing but a base for a coffee table, fix nothing else, leaks just give you an automatic oil change every 1k miles or so. For $18K to have a reliable Mondial is a GREAT deal in my opinion.

 

As a Mondial 3.2 cab owner, I am biased and take this for what it's worth. I can tell you quite confidently that if you expect to spend $5K making her a daily driver, then you better have $10-15K ready, just in case. Further, if you spend $5-10K, your car with 115K on the clock will be worth only the $12 or $13K you paid for it. Not more, just like others have said. The car is not loved out there, but only by the special few who can tolerate $600 ignition coils and failing clutch slave cylinders and the like on nearly 25 year old cars. The miles will scare away everyone except those with no budget, who shouldn't really buy these cars in the first place. I'd suggest if you have no kids, get the 308. Resale will be easier, but the cost of ownership will be just as significant. FWIW, neither car is the ideal daily driver. Please check out Erik, daily ferrari driver's blog http://www.dailyferraridriver.com/ and you'll see that the costs to keep these cars running are far from minimal. ($16/mile?!)

 

I looked at some Ebay ads for 355’s today (for fun) and people are writing how they did a full service and it cost them 20k. Wow, that’s a big bill. I cannot take that hit! However I am ready to spend about 3-5K a year. Is this possible for a Mondial or 308? Or both. Like most people I have a budget I felt that 3-5k would even be enough for a 355 but what the heck a 20k bill! And I have read this on other ads too. 18K or 20K. What are these people doing?


By the way guys thanks for the input I am really trying to learn here. I am really good with computers and know what its like to be on the other side of the coin

 

I think 3 to 5K is reasonable. If you don't spend it save it. You might have years that are just oil changes and then years where something fails.

Not all, but I think most owners have an original hump to get over to get the car where they are happy with it. For me I drove for 6 months with no costs, then I did the service myself, 6 months later a new convertible top and tires and some interior work. Over three years I've put about 2/3 of my purchase price into the car. If you are talking USD $, I've put more than your purchase price into my car in repairs and clean up. Don't regret any of it, and not all of it was required. I did all cooling and fuel lines because I felt after 24 years it was the right thing to do for a reliable driver. So there can be an upfront hump to get over to get the car where you want it unless it's already great, then it's just maintenance and unforseen minor issues typically.

 

This is why you shouldn't post after drinking. You start to say very dangerous things...

 

Yes USD is what I meant. I know I can always end up with a huge bill if I dont do belts and they can break or crack. So the car is actually with the mechanic now. He is a great guy, even drove the car home last night to check overheating (up hills with A/C on). I really think I lucked out with him so I will go by what he says.

 

355s can inhale cash - I've seen a couple of ~$20K service bills.

For a 308, ~$5K should cover a major service at a better independent shop. That should also hold true for the Mondial 8, QV and 3.2 as well. Mondial T would be more.

a) The 308 will always have resale value. It's kind of like a Jag E-Type, Porsche 911 3.2, etc. -- an iconic sports car, with a very desirable badge. Poor investment, but a cool car.

b) When you say "restore it for me", keep in mind a proper concours level restoration is probably the better part of US$100K. If you're talking about getting the seats patched up and the belts changed, that's a different thing.

c) If you own a 2007 Porsche, you're probably well enough off not to have to try doing the Ferrari thing on the cheap. I can't think of any car I'd want less than a worn out leaky Mondial, due for service, with basically no resale. If I were you, I'd target a decent, driver-level 308 (assuming you fit in it) where you at least have a prayer of recouping most of your investment if/when you decide to move on.

 

I'm pretty much in Bullfighter's camp. 308's are the E type Jags of the 80's. They define the era in terms of "flashy sports cars". They are both icons of their age (the 308 along with Madonna and MTV) .

A Mondial that needs a fresh engine (and at 100K, it's not that far off from at least a top end) is worth -- well, probably less than the service to fix it.

A 308 that has been freshened will hold it's value longer. For that price, one has to assume it's a GTB. GTS are a little highly wanted by most first time buyers and therefore a bit easier to sell. AC was never a strong suit of the 308's.

IMO, the only reason someone would consider a Mondial over a 308 is either 1) they really like the looks over a 308 or 2) they need/want the extra passenger space.

There is no other reason aside from maybe they are cheaper to buy because more people want 308's.

That's not knocking Mondial lovers. It's just stating the obvious because they are not quicker or better performing -- I think we can all admit that.

 

Hahahahahahahahaha! Too funny...if it wasn't so true. A $13K Mondial (or 308) just buys you the right to spend another $20K to make it right.

 

The mechanic drove the car 40 miles A/C on, no overheating at all. He says its a great car mechanically. Needs work but nothing major (belts etc)


Question:

How hard would a re-sell be in Southern CA? Considering it will have everything done and all the paperwork but at 120k. I mean do you guys think I will have no chance to sell it? How is it to sell a ferrari? Like no calls. Thats how it was on a motorcyle for me once...

 

Selling a Ferrari, or selling a worn out Mondial parts car?

 

No no car will be running tip top with high miles

 

I think what Jon is saying that, unfortunately, the car will be worth more in parts than you'd get as a whole. Especially at 120k miles.

 

And, Sounthern California is the worst place to sell one of these. There are so many F cars to choose from at all price points. These are cars posted on Craigslist, not the Dupont Registry.

If I had to choose, I'd take the 308 over the cheaper Mondial in this case.