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New Member, what am I getting myself into?

Discussion in '348/355' started by Sea Bass, Jun 4, 2006.

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  1. Sea Bass

    Sea Bass Formula 3

    Jun 4, 2006
    1,041
    #1 Sea Bass, Jun 4, 2006
    Hey y'all. I'm new, my name is Travis.

    I've been eying Ferrari's for quite some time. I'll be in the car market shortly and have found some amazing information on this forum. My price range should be right around $50,000. I'll be honest and say that I want to shop around in that price range for what I find I like best. This includes Ferraris, Cadillacs, Mercedes', and even cheaper american muscle cars. I simply want the most for my money as I'm fairly young.

    Highest on my list is a 348 targa top. But definitely an F355 if I could find one at a $50K price.

    I have read up on this forum a little and see that the 30K maintenance is around $5,000...so I see that service is a heafty chunk of change. Are all services like this? Ideally I want a low mileage Ferrari, but I foresee myself racking up the miles on it.

    So aside from maintenance, how's the reliability for the 3-4 times a week driven early/mid Ferraris? And lastly, perhaps the biggest question:

    What do y'all foresee the future values of the 348 and F355? Will they continue to go down into the low $40s and such?

    Thanks for any help. I'm really liking this forum.

    Travis
     
  2. BigTex

    BigTex Seven Time F1 World Champ
    Owner Rossa Subscribed

    Dec 6, 2002
    79,368
    Houston, Texas
    Full Name:
    Bubba
    #2 BigTex, Jun 4, 2006
    348 will soften somewhat more I'd say and $50K isn't yet enough for a 355.

    355 is a much better car but those are ROUTINE services $$$, burn a header or drop a valve and you'll soon see what expensive means!

    348s have some expensive components, as well.

    I have a couple of older 308s with carbs but no cats...that's as simple as you can get these cars, values are mostly flat so you can buy and sell without losing much, and parts are available.

    Sounds to me like that would be the way to go...a "cheap" later model will be no bargain in the long run, and ANY car you get should have a comfortable budget to restore/maintain it.

    Welcome!
     
  3. Sea Bass

    Sea Bass Formula 3

    Jun 4, 2006
    1,041
    #3 Sea Bass, Jun 4, 2006
    Thanks Bubba! The 308s are indeed simple and fairly easy to wrench on compared to the newer cars. That could very well be an option, and it definitely has a Miami Vice, Magnum PI feel to them, so that's always good. ;)
     
  4. Ricambi America

    Ricambi America F1 World Champ
    Sponsor Owner

    Dec 7, 2003
    16,443
    Winston Salem, NC
    #4 Ricambi America, Jun 4, 2006
    308 = no
    328 = no
    348 = yes
    355 = yes
    TR/512TR = yes

    Every time you roll into your mechanic, it won't be that bad. With good preventative maintenance, there should be few (if any) big surprises.

    Reliability = better if you drive it, worse if you just stare at it. Unpredictable if you track it.


    yes. They're relatively "mass produced" cars with marginal long term collector value. The rare ones (SS, Fiorano, etc) will hold value better. But it's a car, not a mutual fund.
     
  5. ProCoach

    ProCoach F1 Veteran
    Owner

    Sep 15, 2004
    5,465
    VIR Raceway
    Full Name:
    Peter Krause
    #5 ProCoach, Jun 4, 2006
    "But it's a car, not a mutual fund."

    Classic! Bravo, Daniel!

    -Peter (700 miles on my "car" in the last week. More than the PO put on it in the last six YEARS!)
     
  6. Sea Bass

    Sea Bass Formula 3

    Jun 4, 2006
    1,041
    #6 Sea Bass, Jun 4, 2006
    Y'all are too right with the "it's a car, not a mutual fund."

    I love the 512TR, unfortunately that's a little over my budget.

    Nice to know that preventative maintenance will save me. I won't be tracking or even pounding excessively hard on the car. Yes I will open it up a bit, but nothing that would tear up the valves, pistons, clutch, etc.
     
  7. rfking

    rfking Formula Junior

    Nov 16, 2003
    785
    Italy
    #7 rfking, Jun 4, 2006
    I had a similar budget for my first Ferrari - did a lot of research - looked at a ton of cars. I wanted something that I could enjoy driving every day and be comfortable in.

    I wound up with an '88 3.2 Mondial Cabriolet with 20,000 miles. Benefits from being the last year of a long line of great automobiles (308-328). Has a bullet-proof engine, no engine-out maintenance requirement, no power steering, no fancy electric whatevers, sounds wonderful, and on nice days the top comes down. Plenty of zip for where I drive it.

    Paid sales tax, insurance, PPI, upgraded the A/C for summer - and I have a good buffer in the fund for future mantenance.
     
  8. Husker

    Husker F1 World Champ

    Dec 31, 2003
    11,792
    western hemisphere
    #8 Husker, Jun 4, 2006
    I had a nice 308 then sold it to get a 348. No comparison. My 348 was only 8 years "newer", but felt like 50 years. The 348 will vault you into a "modern" Ferrari. Other than you and all the petrol heads that surf this board, everyone on your block will think you got yourself a new Ferrari.

    P.S. You can get a very nice 348 in the low $40's (or even lower!) already!
     
  9. Sea Bass

    Sea Bass Formula 3

    Jun 4, 2006
    1,041
    #9 Sea Bass, Jun 4, 2006
    Oh! One major issue...

    Will the 348 or 512TR fit a 6'3" person? I'm not a big guy, I'm actually quite skinny, but I'm very tall and have long legs and a long torso.

    Yeah, that'd be bad if I can't fit or let the clutch out. This HAS happened to me, most notably in a Shelby Cobra 427.
     
  10. Artvonne

    Artvonne F1 Veteran

    Oct 29, 2004
    5,379
    NWA
    Full Name:
    Paul
    #10 Artvonne, Jun 4, 2006
    About two years ago someone posted somthing about TR's dropping to $40K, and overnight they popped up on eBay with some buy it nows in the low $40's. Within a week or so the joke was over and prices went back to normal. But for a couple days there you could have won. Wish I had the money that week.
     
  11. PassionIsFerrari

    PassionIsFerrari Formula 3

    Aug 15, 2004
    2,454
    #11 PassionIsFerrari, Jun 4, 2006
    If u are 6'3, the 348 is going to be a tight fit....Almost a for sure no-go with the top behind the seat...with the top off...you will be ok.
     
  12. Sea Bass

    Sea Bass Formula 3

    Jun 4, 2006
    1,041
    #12 Sea Bass, Jun 4, 2006
    That is bizarre. I can't believe that people could act that hastily to sell them like that....day late and a buck short.lol

    tmobile, I was afraid of that. I've not had the pleasure to sit in anything more than a Ford GT and that was VERY little headroom. I could fit, only thanks to the door going over your head.
     
  13. Husker

    Husker F1 World Champ

    Dec 31, 2003
    11,792
    western hemisphere
    #13 Husker, Jun 4, 2006
    I'm 6'4, average build. 348 works fine. It's a bit snug with the roof on, but it works.
     
  14. BT

    BT F1 World Champ
    Lifetime Rossa

    Mar 21, 2005
    15,291
    FL / GA
    Full Name:
    Bill Tracy
    #14 BT, Jun 5, 2006
    If the leg room gets tight when storing the targa top behind the seats, just take it off on good weather days and leave it a t home. You could keep a tarp of some sort in the trunk in case the weather turns ugly so you would not risk getting the interior soaked.
    BT
     

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