I don't want to and by the craziest thing ever in the world my wife doesn't want me to, but I may sell the 328. I would like a honest value. 1986 328 GTS - Red on Black Let's just get the bad parts out of the way: - Small ding in drivers side door - Original owner put a hole in the deck lid for a cell phone antenna. Ug. - 46,000 miles - Paint is a 7 out of 10. - Interior - Maybe a 7 out of 10. The leather where the stereo goes is cracked. - Seats are hard, but not ripped - Carpets are a disaster. - AC pump not installed (I could put it back on) - Original suspension bushings - One fog light cracked Good stuff: - Before I sell it it will have new cam belts and bearings - They only have 8000 miles on them, but I can do them in under a day so I'll do it before I sell it - New front brakes - Rebuilt master cylinder - Rock solid car mechanically - Drove from AR to NC and back with zero issues - Electrical is solid. Clock works! - Original tool kit - Have service records up to 33,000 miles at a Ferrari Dealership. I purchased at 36,000 miles. - I have done all of the maintenance myself - have receipt list from Ricambi - I'm a former jet engine mechanic so I'm not a complete loser - Water pump was done 12,000 miles ago - I'm not from Arkansas so I don't do redneck maintenance. - The oil pan will sometimes have oil on it, but no drips. After changing cam seals twice, I got is done right. If you value this car as a solid driver with cosmetic issues, that would be right on. If I keep it, here is what I would do: Rear brakes: $300 New carpets: $800 New fog light $12,349 (that may wait) Fix door ding: $0 - I already have the paint and catalyst Fix hole in deck lid - $0 for me, but around $1000 at a body shop New suspension bushings: $3000 Exhaust work: ?? Well, there you have it. Be straight up with me. If I decide to sell, I want to sell quickly which may cost me a few $. Thanks a lot folks. Gene
AHHH Sh*T Gene, I'll give you $2,000 for it RIGHT NOW!!! That's a lot of beer and 'possum money in Arkansas you know! <couldn't resist> JIM
Gene, I hope you are trading up!! From your description, I would think the 328 with new belts would be about 40-45K, depends on the other issues you described and how much the buyer wanted a 328. If you could spend a few more bucks on the carpet, that may be a big positive to selling. See if the hole can be fixed with a plug of some kind. While it won't be "right" it will look better than a hole in the deck lid. Good luck!
Just hang on to it until you HAVE to sell it. Some things are worth the money, and this is one of them.
Gene, I'm looking for one - but red on tan so there's no agenda here - and will give you my input based on what I've been seeing and know to have sold recently. To be succinct I think given the condition as you describe if you need to sell it quickly that'll happen at $35K. I have seen some very good condition cars w.comparable milage go recently +/-40K. Good luck.
I purchase a 1986 GTS with 42K miles last year. So +1 for ducowti opinion. But pics would have been a plus here...
Given how you describe the cosmetics, I'm thinking it needs a full repaint and interior. So low 30's, very low 30's 31 or 32, but I would need to see pics at least.
Thanks for the words of encouragement to keep the car. It gives me more to think about. I didn't post pics for a reason. A car like mine will look better in the pictures than in real life. The pictures won't show the little chips in the paint or the small interior flaws unless I go crazy macro on the entire car. Thanks again... Gene
I would replace the carpets immediately and fix the door ding, then get the car properly detailed. This is all easy and greatly affects resale. Also, there's a thread from yesterday with a source for the new fog light lenses (Superformance UK, IIRC) -- a Ferrari with a broken lens looks crappy. (Any car with a broken lens looks crappy, actually...) It's $1000 or something, but the old car world is divided into those with cracked lenses and those with nice lenses. You have to decide. If the interior is bad anyway, you could re-dye it. Used car dealers do this -- it's cheap and gives the interior a resale glow. Ultimately the interior will need to be properly restored, but if you're selling it I wouldn't spend that kind of money. Pricewise, if the car has a hole in the deck and a broken lens, I would say high $30Ks, maybe $40K if all of the above were done. But without seeing the car I'm really guessing. If you're supremely confident in your bodywork/color match skills, I suppose you could fix the hole. But I'd just rustproof the opening and fit it with a red plastic plug (something like BumperPlugs offers). BTW: You likely are a very talented mechanic, but a DIY car from a private seller is a different commodity from one with a recent big dealer invoice for a major service. That's just a fact of the market. And ... you asked for an honest value. As far as selling or not selling: I hate to see anyone sell a 328, because IMO they're underpriced, and probably the best production Ferrari out there right now in terms of looks, reliability and value. Also, you have it well-sorted, which as we all know (or learned...) counts for a lot. Given that this car sounds cosmetically needy, though, and given that it is red, which is fairly common, I think you could replace it someday with something as good or better.
Gene, take a deep breath and step away from the crack pipe. Good. Now, give up this silly idea. In planning for what MIGHT happen, keep in mind that you could be 100% wrong in what you're planning for. If you insist on selling, sell it to me for next to nothing. I'll keep it and drive it around. When you're ready to buy, I'll sell it back to you for what I paid.
You know what Jim? I would take you up on that if it wasn't for the note payment every month. That is what I'm trying to get out from under. I'm still making good money and by no means hurting, but I don't feel like I'm getting anywhere financially. I need to pay some other stuff off and save more. If I sell the 328 and do a few other simple things I can be almost debt free (just house and car payment) in under 18 months. Then I could and buy a 328 again. What is killing me is that I think the prices of the 308 and 328 are going to go up and I don't want to miss that boat. I figure if I buy a 308 or 328 every 5 years I'd have a nice little nest egg come 55 years old. That is a sound plan right? Gene
Gene, If you're shure 3x8 are going up in value, then don't sell yours. If you sell it now, you'll have to buy it higher later and lose all the added value in between. But if you really need a financial break at the moment, then sell it. Happiness is a positive cash flow. Trust me, I know.
Sounds kinda rough. The car is a 3- rating you think? 28-32K depending on how knowledgeable the buyer is. sorry- i know that isn't what you want to hear. Cosmetic issues eat up more money then you expect to fix properly. Better off to keep the car unless you just plain don't like it anymore.
I agree with the last statement. Sounds like you're at a point where either you invest in the car to make it desirable to you to keep or sell it fairly cheap. Bullfighters comments on taking care of the easier and cheaper cosmetics and get a good detail job makes the most sense to me if you've got to sell it. Pictures of the specific interior problems would be helpful, I agree that the exterior pictures won't be as useful for evaluation but could provide some further helpful info. As far as a value I think more like $32K-35K if you get it looking better. Probably take awhile to get that range though. Do you just not like the car well enough to invest further in it or do you need to sell it? I'd say keep it, not a good time to sell. Drive it, slowly fix it up, then maybe look at selling it in the future if you want to upgrade or go in a different direction. I can't see myself ever selling mine. Good luck to you with your decisions! Jeff
Sounds about like the condition mine was in when I bought it a year ago. It IS getting a whole repaint and whole new interior. Paid 32K for it, but mine had 69K miles on it.
Dude, these are Ferraris. The note will get paid off eventually. Clean it up, keep it forever. Then you don't have to face a note payment for another one. You don't have to get rid of a car to get rid of a car payment. Just keep the car *PAST* the car payment. Then you have the car without the payment. When you buy a new car, you lose your shirt in the first five years. You get it back in the years after that. That's the gravy. That's why I like Italian sports cars. Most cars have a "use by" date: you can't keep them after a while. Italian cars can be maintained and kept roughly forever. I see younger people at work who always just have to have the latest and shiniest new gizmo. The disposable culture is a rip-off.
The funny thing about this is by spending around $1000 to fix the light, you could add around $2000-$4000 to the asking price. Not sure if an interior redo would pay back dollar for dollar but fewer items in the negative column help move the sale along. Prices for 308/328 have been going up but I think the market overall is going to slow down for the rest of the year; due to the general uneasiness in the economy. -F
Thanks again for all of the comments. I'm currently re-evaluating my financial situation to see if I can meet my goals and keep the 328. I just changed insurance so it only costs me $680 per year, but I won't be able to drive as many miles per year either. That will help keep costs down. If I do keep it, I will fix all the the items listed, maybe except the fog light and interior. The interior isn't as bad as I made it out to be, but the carpets would be a good investment. Gene
Some good advice all around. But at the end of the day, you have to decide whats best for you. Like Clint Eastwood said "a man's got to do, what a man's got to do." If that means selling, then doing the cosmetic work, I think, would put the car in the low $40's range. If it was me, and the problem was the monthly payment, I would be willing to get a second (part time) job to keep the car. My thoughts are: I love the car, every year there are fewer and fewer good ones out there, they most likely will cost more in comming years, so unless you have cash, you will still be paying a loan on a larger amount. Good luck with your decision, and however it turns out, be happy.
