Possible first Ferrari?

Here's a good example. I don't know anything about this car personally. In fact, I've just glanced at the listing. It may need some work, and I don't like the carpet. But... it's a 1980 GTSi (same year as the post/topic car) w/ 58K miles. $46,500. My opening offer would probably be around $37,000.

https://www.ebay.com/itm/308-GTSi/323322437864?hash=item4b4784e0e8:g:LvYAAOSwHZhbNV5a

So compare this car (and price), to that... storage unit basket case. You could spend $25K on the dellusional owner's parts corpse, + another $20-30K fixing all the problems. Or just buy a decent one for $40-ish and keep a bit of cash on hand for problems that pop up. And problems WILL pop up, on any Ferrari you buy, at some point.

Good luck in your search. There's nothing like owning that car you wanted since you were a kid.

 

Yeah, I SO wish I pulled the trigger when I first started looking at 30K 308s 5 years ago! Seems like they doubled or more, and then pulled back some to where we are now. My thinking on buying my sub-50K car is that I'd rather put the extra 20K into something I can actually touch and enjoy, rather than leaving it in the bank earning 1% or adding to the adventure I'm already (fully) experiencing in the stock market. I'd bet that I won't lose money on this car (and my wife thankfully agrees). So in the scheme of things, there's a relatively low risk of financial loss and a relatively high risk of life enjoyment. So far I haven't had a single regret. If you can find an extra 20K to "invest", I think you'll find it worthwhile. But buy a good one! Enjoy and good luck.

 

Garff absorbed Steve Harris about 4 years ago. They just moved to a new location @ 543 S. State Street. (mostly) the same friendly folks.

 

The Alpine stereo looks to be ok ,the rest of it just forget.

 

I hate to say it Bryan but "blind Freddie" could tell that original car you posted was junk. Whether it's a Ferrari, Rolls Royce or Kia the principals are the same to choosing a good one. Overall condition and service history are paramount. The only difference for a Ferrari is that the cost to repair and the replacement parts are just a lot higher then an average family runabout and that with few exceptions there are very few real bargains out there.

 

Glad you’re being cautious. With any automotive marque, restoration has to be an irrational passion; you don’t rescue a broken car unless restoration what you love doing.

There is baggage with Ferraris that other marques don’t come with. For many of us, Ferrari is the non plus ultra of automobiles: the top of the pyramid; nothing finer. Personally, now that I own a 308 GTS Quattrovalvole, I lust no more (well, okay, owning a 1957 Testarossa or 1961 250 GT Spider would be nice). Once you get one, you may suddenly want "perfection" and find that the car's minor flaws begin to seem like major ones. Some of those flaws may be extremely difficult to fix.

Thus, it is more important with Ferrari than on other marques to buy the best car you can afford. This is easier said than done as, since it is a rare car, every example that will come your way will have flaws of some sort. Likewise, what we “can afford” is always a squishy thing; I paid 20% more than I budgeted but, in my case, I am thankful I did. Yesterday is not today though, and the price spread between Hagerty condition 4 and condition 1 has grown substantially, and that is a problem for a buyer.

A benefit for buyers from the increase in prices over these last years is how it has greatly increased the inventory of cars for sale. When I began shopping in late 2012 there were few 308s for sale. It is much easier to buy one now.

 

This is one of those vehicles (I've seen planes and especially boats the same way) that if the guy GAVE it to you, you would be losing money.

As Jenny said, "Run Forrest, RUUUNNNN!"

 

Is it just me or do those luggage racks look better on an MG?

 

$49,000???

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAH

 

It isn't worth free

 

If it was a Dino it would be snapped up ,308 no way ..well not yet anyway.

 

You think? I'm not sure it would be snapped up if it was a 250 GTO!


Well, OK...of course it would.

 

That's certainly a rough looking 308..... that luggage rack is definitely off a TR6 and worth a few bucks

 

Realistically, it's just a parts car. Probably not a reliable driver. Not worth restoration.

 

Oh come on people it's worth something. Not every car needs to be restored to show condition. For the right price you could probably get this thing running and just drive it. Well okay, take the luggage rack off and patch the holes at least

 

Let me throw out another suggestion. For $35K to $45K you can purchase a pristine, almost show condition Mondial 8, Mondial QV or Mondial 3.2.

These cars have the same drive train as the equivalent year 308, 328 -- However, are priced much lower.

To many people, they are not as good looking as the 3x8. To some of us, they are a gorgeous looking car, with subtle body curves and lines. Plus, you get a back seat -- usable by little ones.

They do make a great starter Ferrari. Maintenance is just as easy as a 3x8. No engine out required for major service, and parts are readily available.

I bought my 85 QV Mondial for $25K. It was mechanically a 10. Cosmetically about a 6 (seats needed redying, and paint has some chips/nicks).


Sid

 

I agree 1000% and I am serious too.

But just the $ to get it road worthy is going to drive the price down to $10,000.

 

You're welcome.

I too started out wanting a 308 -- specifically an early carbed 308. However, my adult son and I restore cars as a hobby. Our previous endeavors were restoring old VW Karmann Ghias and mid-80's Mercedes Diesels. When we decided to "move up" in the world by going to Ferrari, we were sure that we wanted a 308. After all, what is more iconic to most of the population than the car that Magnum made famous? When we looked at 308 prices, we couldn't justify purchasing one to "learn" on. At that point, we were still laboring under the impression that Ferrari's were magical and mystical, and required highly specialized training and knowledge to work on. Although we wanted to get one, we didn't want to take the chance that we would "screw-up" a $50K - $60K car.

So, we started looking at 308GT4s and Mondials. I liked the GT4s because they are carbed. However, the Mondial won out due to price.

Since acquiring, we've learned that a Ferrari is just another 1980's car in terms of skill set required to work on it. We've had a blast working on it, and learning some of the Ferrari quirkiness. Now, I wouldn't trade the Mondial for anything. She's a fun car to drive, is comfy, sounds great, and is easy to own and self-maintain.

Whatever way you go, there's a great support system here on FCHAT. If you need something, if you need to figure out how to do something, chances are high that someone here has done it, and photo'd or video'd the process. This forum is a great resource.

Sid

 

There was a barn find on here a couple months ago, I believe it was an '83-ish QV? I'm not sure we ever were told what the owner paid, but my gut feeling was in the $15-20K range. It had significant body panel damage... ripple dents, some bad rust. The interior looked rather decent and complete, though. Some felt it was a good project, others thought it was better parted out. In the end, the new owner sold it to BHCC and made a small profit. BHCC promptly listed it for a stupid price and called it a decent car. It still needs $30K worth of work, of course.

I'd certainly pay $10K for this 1980 luggage-rack GTS. I'd strip off every part possible - the glass & the panels for starters, and stash them in my garage. Anything I didn't want to keep I'd sell off, and probably break even. So it's not really worthless. It's just in such need of repair that the asking price would put you underwater by the time you were done.

(Also - note the opinion on "good project?" depends on who's answering. Some of us can turn a wrench, so the price to fix stuff is lower than people that will have to send it to a shop.)

EDIT: Don't feel stupid asking about this car. If you're new to the marque, you might not be aware of how different (and possibly expensive) it is than fixing up an old Corvette or Mustang. We'd rather you ask the question and not end up with a car that you hate.

 

Every so often I see 308 listed for sale on eBay, looks like there photographed and some big warehouse in Texas? Prices generally around $40,000. Don’t look abused but need some TLC. Anyone else noticed these?

 

If it looks like a concrete floor, with 2 walls in the background, and lots of pics -- 20+, that's Beverly Hills Car Club.

If you haven't been to their website, it's worth a look. You will see more fascinating "project" cars than anywhere else.

A couple of years ago, they had a TR there that looked pretty good, at a really good price. The only give-away was that the underneath car photos showed a couple of barnacles on the oil filters.

Sid