Owning a 355 in a year?

I have been reading through this board for awhile, looking for info on the 355s. I have always loved the 355s and now, with pricing at almost reasonable levels, I am seriously considering the purchase of one in the next year, year 1/2. When prices reach 55-60k, I would love to snag a 95 6spd Rossa Corsa/Tan Berl - or perhaps a GTS. My DD right now is an 08 Rabbit 5Spd, and I want something for weekends, short trips to the coast. My other options were an M3 (either E92 or E46), 996C2 or TT, or a Cayman S...

If I go the 355 route, what kind of costs am I looking at annually? What should I allocate each year for regular service/misc. costs of ownership?

Obviously, a PPI and complete service history, as well as myself and a few friends checking over every sq. inch of the car would happen before purchase... But considering I find "the" car... What should I expect?

 

I would say about 4k a year.

 

And budget around $7-10K+ every 3 years for the cam belt/major service.

 

As pap mentioned major service is around 7-8k, clutch 3500. 95 seems to be the best year about 20% have the inferior valves($12013k job) while 96-98 have more risk, this includes 348's as well copper.

Good news is alot of the cars have had the work done just check all records PPI peakdown is a must.

 

Okay so 19-22k for three years of ownership. Or 38-44k for six years...

Unless I'm going insane - those prices sure are. For me, right now.. I think an E46 Competition M3 or 996C2 or Turbo would be the most "practical." I just don't know if I can allocate that much money each year for my 'weekend cruiser' right now.

Thanks for the info, though!

 

the 7-10k every 3 years is the required maintenance. (major engine out belt service)
The 4k every year includes insurance, incidentals etc etc. (its just a guesstimate).

Having said that a fresh car with a fresh major and a clean PPI you will go 3 yrs without spending 7-10k and only spend money on incidentals.

You may spend only $500 in one year for insiurance only and have zero issues.

You just need to be aware of the facts before you jump in.......

Yes an M car or a Porsche may be the better choice............but a Ferrari is a Ferrari

 

Don't bother buying a porsche, it just feels like an over-priced volkswagon, go Ferrari

I had a 993 for about 3 months and it was a bore...

 

+100000000

 

I have had my share of issues with German cars, once they are worked out they offer incredible driving experience. The Porsche is amazing but outside warranty there is a possibility of engine failure etc...

Bmw I currently have two and would also recommend a warranty, Gm Transmissions can fail unless your buying ZF M3, avoid the paddle shifter it has over reving issues due to software malfunctions.

Buy the Ferrari and enjoy it on the weekends just dont trash it and redline it, there is no reason why it shouldn' last. Just get a ppi leakdown test and verify all records and make sure there is no gaps in history.


Here are two workclass service facilities to get you educated.

http://emelbon.tripod.com/eugeniosferrariservice.html West coast

http://competizionecars.com/ east coast.

 

Can the 355 be tracked? OR taken TO redline (8500rpm) in 'spirited driving'?

 

Hey John,
I have both an F355 and an E46 M3. I track the M3 and it is fantastic, fast, and reliable, but for fun around town and on weekends it does not provide one tenth the passion and exhileration that my Ferrari does.
Reg (Vegas guy) and I have a seperate bank account for F car maitenance and I put in just $100/week, which is way more than enough for even the largest issues, including majors.
I don't know where you are in life but if you have a passion for cars, interest in Ferrari, have driven one, have the money, the patience for little things to go wrong, and the dedication to do the maitenance required GO FOR IT! Ferrari ownership is second to none...really.
-Billy
PS>>>Trips to the coast from Indiana?

 

HELL YEAH THEY CAN

 

As a comparison I think a fair budget for a well taken care of 348 should be maybe $3k per year for all service / repair (on average), and my insurance is a little less than $1k per year, so $12k for three years, or $25k for 6 including insurance. remember, any estimate is for an AVERAGE, YMMV!!!!

BT

 

+1 on the above

The $100.00 a week should cover just about all the maint. including majors. If you get a well sorted car you might only spend $500.00 in one year, but you might have a cat, or headers go the next. which could be the same year as your major. Also check the clutch, that a 3k service... I know I just had it done.

P.S. The $100.00 a week I put away does NOT include insurance!!!! It's just for maint.

 

what a strange question to ask about the race bred car that is Ferrari.

 

I sense that the question was in the spirit of ..."Can I take it to the track without emptyinmg my bank account for subsequent service visits." Not so much about the performance capabilities.

 

Exactly... I'm quite clear on the racing thing...

Note my signature and avatar.. I'm a huge F-car fan and fan of Scuderia Ferrari/F1.

But yes, what sort of damage bill, (if anything more than stated earlier), will I incur from occasional track days, spirited runs?

 

If you track it once in awhile, (not often) for the most part it should just be brakes and tires. As for the spirited run. I get mine up to red line (normal 1st, 2nd, or 3rd) just about everytime I take it out, and usally more than once each time.... You should have no problems, that's what it's made for...

 

My F355 is my daily driver. Just got back from Houston, put 2,500 miles on it in 5 days one of which I drove it on Texas World Speedway.

Drive it often and drive the piss out of it and it will be a reliable car.

Let it sit in your garage and look pretty and that's where it'll stay when it breaks down when you take it down on the 3rd Sunday of the month to go around the block at 15mph (what a waste of car)

 

A local guy tracks his 348 challange and it has never given him a problem he pushes the car beyond 105% of people limits.

 

umm... '95 355's can often be found for 55-60k now! I know a guy that bought one for $48k 6 months ago! Even if it needed a major & clutch, you're still under your $60k, and you start with a fresh car. I think Reg (Vegas-Guy) paid WELL under $60 for his too!

 

+1
And with the new clutch and cooling fan, I'm at 61K and it only had 16.5k in miles on it.... with a 15k service at 15.5K....

 

I've never heard the $100/week idea before. When put in those terms the service costs really don't seem that extraordinary. I get caught up in the total numbers that are constantly thrown around here.

 

Yes. The F355 can and should be taken and wrung out at the track. It is the safest place to enjoy the performance of this fantastic automobile.

The only caveat - and this applies to any car that you take to track, or spirited driving events - is to ensure the machine is in good running order. Most F355's have been babied hence may have wearing- or worn-components that will only fail during such events. A well-maintained-and-current F355 will be just as reliable as any other track machine.

I've taken many cars to HPDE's, Time Trials as well as races. My F355, with box stock suspension settings, did not disappoint.

(photo by GotBlueMilk Photography)
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If you are looking for "practical" you are not ready for a Ferrari. They aren't for everyone or everyone would have one.
BMW or Porsche is the place for you. Of course the depreciation of any of those cars over 6 years will be at least 40K. But you will feel very practical right up until the time when you get bent over trading it in. It's amazing how many people can't do the total cost of ownership math and only look at service costs and not depreciation.
These are the same people my tax dollars are about to have to bail out of their mortgages because they couldn't understand the concept of an ARM.