Return on Investment-77 308 steel-body carb car?

Let me look into my crystal ball....

Historically, every Ferrari eventually goes up in value. I happen to be of the opinion that the 308's are going to go up in value for the same reason that the 246's did--they are universally considered exceptionally good looking cars. However, they were made in much greater numbers than 206/246 series cars, so it's anyone's guess how long it will take for them to rise in value. If you expect to buy a 308 and turn a profit in 2 years, I think you are going to be disappointed. I think we'll see their values climbing substantially in another 10 years, but not 2.

Anyway, buying a Ferrari as an investment is no fun at all. Buy it to drive it.

Birdman

 

A clean car that is well cared for will always hold its value in the mid to high 20's. Where you will loose money is when you have a car with neglected service and which is in rough cosmetic shape. The cost to bring these cars back is best taken on by an enthusiast rather than a speculator.

 

From what I've seen, it is slightly down on the average mainly because so many people that couldn't afford the maintenance let them go down and are now selling them. That being said, examples in fine condition seem to have been going up slightly in value over the last few years. Of course, if you don't put the money into maintenance you will be in the same situation.

It is extremely likely that the cost of maintenance and insurance will be more than the appreciation in value. Also, I don't think there will be a substantial premium paid for an early 308 over a later one. They are all just way too similar and made in fairly high numbers compared to the 256.

Personally, I don't expect the values to begin climbing very much for at least ten years. The 328's overall are still on their downward leg, and until they bottom out I don't think the 308 market will see much upward activity.

 

308 values have been pretty stable for about 10 years now. Even if they go up some, as an investment, cars are generally not good choices. You have maintenance and insurance expense and lost interest on the money you paid up front (about 1000/yr on 25K) If you are borrowing money the equation is even worse. A 308 would have to rise in value at least 2K a year to compete with say a 10 year Tbill. Not likely to happen. If you want a Ferrari, buy it. The fun return on investment is pretty high compared to other toys.

Dave

 

There are very few 77 steel cars. Mostly they were still glass then, so I guess you could say that it's one of few...but really I'd say if you were going to have a 77, I'd PREFER a glass one.

 

In the US all 77 308's and a considerable number of 76's are steel. They sent steel here first (lucky us). There are a few euro glass 77's here but they were gray market cars. We also got the wet sump motors right from the getgo, no dry sumps at all.

Dave

 

It won't beat a properly managed mutual fund for 2-4-6 years. Its a car. Drive it and enjoy it.

If you want an investment, call your broker.

 

308, carb, clean, mid $20,000, long-term, I don't think you could go wrong.
It got all the right words....

 

When I got my 77 I didn't consider the ROI. Felt if I were going to spend the $25-30K range for the 10-20 years I will enjoy it was all I needed for the ROI. So buying the car with 32k on the clock and a fresh 30k tune up 4 yrs ago was the right deal for me. I've put in $1000 since I've owned it (did my own 30k service again at 45k miles) and have not had any issues. It is great fun to drive , to look at and also for my ego. I'll need to sell it when I'm to old to get out of it or can't fix it myself. So forget the ROI and enjoy the ride.

 

Judge is correct....not an investment...that's what Fidelity Investments does....LOL! Oh wait, my portfolio there is trending down also!!

Check the Ferrari Market letter for trends as they differ greatly among the 3X8 series........ mid '80s and later still going down..

As noted the early models are stable but not much appreciation as yet. Good point that to properly maintain and insure will totally negate any gains....


You buy 'em more like a painting, 'cuz you like to LOOK at 'em.......

 

Well said Eric!

Let's be frank, cars are not investments, they're expenses! If you calculate what you paid for it, add your maintenance and cost of operation (gas, insurance, registration)...never will you recuperate what you put into it. Even if one would sell a car for 5K more than he paid for it 5 years ago, odds are that the costs of ownership over those 5 years, surpass your profit.

If you want an ROI, buy land. People will always need a place to build a house or grow some food.

 

The car will likely hold it's value, but what you spend on maitanence, repairs, and insurance will make this to be a sorry "investment". Buy it to drive and enjoy...any "investment" is pure folly.

Dave

 

Agreed that cars period are not a great investment but if you are going to own an old fun car a 308 will hold its value better than most and be a lot more fun. As an owner of a 77 I am biased but I can also see a good one appreciating albeit at a slow rate. As for running costs a good one is very reliable and cheap to maintain in my opinion assuming yuou maybe cover 3000 miles a year.
PS In England a few years ago a 308 GT4 was dirt cheap now thay have virtually doubled the early 308 GTB could be next as they are beginning to be eligible for many historic tours and races which always has an upward effect on prices.

 

It will definately hold it's value...the oldest non catalyst cars are trending slowly upward..

You saw the one the guy in Holland drove into the ocean, totalling it weeks after a year's resto?

That's one less!!

Still coin flipping? heads yes, tails no, on edge get two!