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Newbie..360/550 resto/crasher/salvage?

Discussion in '456/550/575' started by emerckx53, Apr 1, 2005.

  1. emerckx53

    emerckx53 Rookie

    Sep 15, 2004
    10
    Well, like many I have had a life long dream of owning a F car. But like many, by the time I finally aquire one I will be too old to drive! What are the prospects of an insurance salvage? 30k/40k? and sticking one on jackstands in my garage and making it a long term hobby? Can anyone point me to some resources? Thanks in advance.
     
  2. Korr

    Korr F1 World Champ
    Silver Subscribed

    Dec 7, 2003
    14,614
    Full Name:
    C9H8O4
    You aren't going to get a 360 or 550 at that price that can be rebuilt.

    If you want a Ferrari and can fork out 40K for one, buy a well sorted 308. It's still a Ferrari and won't cost you 100k in repair bills that you never be able to recoup.

    Put some Tubi's on this and drive today:
    http://www.ferrarichat.com/pp-classifieds/showproduct.php?product=31&sort=1&cat=all&page=2
     
  3. riverflyer

    riverflyer F1 Rookie

    Nov 26, 2003
    3,552
    Mendocino, Ca
    Full Name:
    John
    Korr is correct on the price issue. I know a guy who has bought 3 salvage cars and restored them(360's). I think he made out well on one, not so well on another and is keeping the 3rd and very happy with it. Parts can add up very quickly and you will take a bath on the exit end unless you really do your homework and or are keeping the car for yourself for a long time. If you do a search, there are some good threads that talk about pitfalls and issues that will save you a lot of time, money and mistakes. Good luck, John
     
  4. emerckx53

    emerckx53 Rookie

    Sep 15, 2004
    10
    Can't see myself in a 308. I will search the threads. 355 is where I would start if possible. Again, any resources that would help would be appreciated.

    Forza

    Michael
     
  5. BMW.SauberF1Team

    BMW.SauberF1Team F1 World Champ

    Dec 4, 2004
    12,225
    I know of a guy in Orlando who's repairing a yellow 355 Spider that he bought for $30k. He works at a repair shop so labor isn't a problem, but locating the parts can be a problem. I don't know if you have to sign up to view the page, but here's a link to the project (hasn't really started that much): http://www.350zfrenzy.com/forum/showthread.php?s=&threadid=5496

    This Ferrari salvage dealer rebuilt a 355 with an engine fire. They might have any parts you're looking for, too. Rebuild project: http://www.specializeditalianrecycling.com/project-355.htm
     
  6. kimoSabe

    kimoSabe Karting

    Dec 7, 2003
    191
    No CA
    Full Name:
    Ray C.

    Try this site. They're in No Calif. They have a Spider for $65k right now and I'm sure they get repairables. I read somewhere in Forza that it's hard to put a Ferrari 100% back together when only 90% of the parts are available. And they were talking 348/355s, not the classics. But I'm sure it's easier when you have an exotice salvage yard. Anyways, good reading material....

    http://www.specializeditalianrecycling.com/project-355.htm
     
  7. SrfCity

    SrfCity F1 Veteran

    Nov 1, 2003
    9,842
    Orange County, CA
    Just a suggestion: With all the time, energy and money you'd put into a fixer why not invest those energies in say real estate or something and make enough $$ so you can buy a pristine 360 or 430 ;)
     
  8. BMW.SauberF1Team

    BMW.SauberF1Team F1 World Champ

    Dec 4, 2004
    12,225
    ^ I posted the same link a couple minutes ago, haha.

    Anyways, I wouldn't really buy a salvage car through a dealer because it's very hard to put a real value on it (can't just go by KBB or whatever). If you know someone with a salvage dealer's license, you can find salvaged Ferraris at www.iaai.com (they usually have 3 nationwide any given day).
     
  9. russell

    russell Karting

    Mar 2, 2005
    217
    sacramento
    Full Name:
    russell
    If you buy it right and are into the car 1/2 of what a clean title car when you sell you can usually sell for 1/2 ,so its a wash. I have a 355 salv,and a 360 spider salvaged. I paid 110k for the spider with 5k in prts and labor to fix. I can email photos to show you if youd like.I am keeping this car though. I got both through lyletanner at ferraripartsexchange.com But he located all the parts for me. I did this as a fun project though. And it depends on the level of damage. It also really matters to what your motives are. All the parts are locatable but it depends on the BODY MAN (mechanic). AS you can not finance these cars you have to pay cash.. Fortunatly I can afford a clean 360 or whatever but did this tosave money. Thus is how i got wealthy if the first place. BUT BE WISE AND CAREFUL you can spend more when you are really trying to save.. and their is nothing wrong with trying to keep the cars on the road.They are ferraris and should not be thrown away..
     
  10. emerckx53

    emerckx53 Rookie

    Sep 15, 2004
    10
    I want to thank all of you who have replied to my post. I have spent plenty of time on various forums and have never run across this type of response to a first time poster! A very welcome surprise. For what it's worth I have climbed the ladder from a Civic si, Contour SVT, Alfa Milano verde 3.0, E36 M3/4 to my current car an 03 EVO VIII (an unbelievable 30k drive). I have been to 7 GP's and have basically worshipped the marquee for 20 years. I will visit your suggested links and take all of your advice (which all was great) and continue my research.....I may be around from time to time for help!

    Ferrari....La Dolce Vita

    Heres to the F2005 this weekend!
     

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