My 348 - should I sell it or keep it?

DON'T DO IT MAN!!!!!!!

 

I say sell it. I now I'm going against the grain here, but the car is not going up in value in 5 years, because it will need a major and that will come off the price. So any possible gains you have will be eliminated. If the car doesn't do it for you anymore (you said there was no spark I believe) - you're really not going to have a spark if you decide to drive it one day and something stupid happens mechanically. Then there's more money you'll have to shell out.

If it was a 275, or an F40 - different story. You could probably make money on that. A 3X8 (maybe not a 328) or newer Ferrari is a liability - if you love the car, you take that risk of a huge repair, and it's probably worth it - if there isn't a spark get rid of it.

 

As mentioned earlier ............... buy a 355 ....................... !!!

 

Currently you are sitting in a pretty good financial position regarding your car - you posted a while back that your car cost about $44K. So if it sells, getting out at $41k after 3 years is fantastic.

The 348 prices are down now mainly because of the economy and also because of the winter effect. I think prices will go up marginally in the summer - should climb by $1-2K. But the $8-10K it lost due to the economy is not likely to come back for another 2-3 years - it may never go that high again.

I think there is no harm to keeping the car on sale till summer. Surely it will sell by then. There is no need to do a fire sale now since you state that there is no financial pressure. I think in the long run that the price will stay above $40k.

But the bigger question is should you sell? Depends on whether you want to buy a newer Ferrari or the GTE that requires restoring. Upgrading to a 355 or 360 may make a lot of sense now as they (particularly the 360) have been really hammered in price. You can get a decent 355 for $50-65K ($15k drop in price) and a decent 360 for $80-100K ($40k drop in price). If you aren't buying another car then keep the 348 and drive it on occasion.

I think letting a car sit for a couple months at a time may be okay - people in the cold regions do it all the time. There are several threads on storing the car for extended periods and what needs to be done to the car.

Why can't you drive the car more often?

 

There are several threads on storing the car for extended periods and what needs to be done to the car.


are you able to reference these threads? i would love to have a look to see if i did anything wrong when storing mine

thanks

 

are you able to reference the threads for storing a car? i would love to have a look at these to see if i did everything right. thanks

 

I can't believe it you put it up for sale..

 

+1 My newest car is a 1991. I get more comments on my well-maintained-original-condition cars than I'd get if I had a brand new vehicle. Driving "older" cars is -- for me -- more fun and fulfilling that driving something brand new. Plus, I hate losing value to depreciation! I'm in agreement with the others. Why sell into weakness? Enjoy it for now, and if you decide to sell afterall, wait until the economy improves.

 

Don't make me fly down there and have a man 2 man talk with you Collin.

You sell your 348 and I'll put you on my ignore list. How's that for starters?............don't answer.

 

My sentiments exactly. Anyone can buy a new car (especially since Obama was elected) but not everyone can maintain an older one.

 

I was forced to change it and my signature by the Fchat police. Well, not so much the avatar but I'm trying to clean up my image, if thats possible.