Should I Buy a 95 F355 GTS - 27K miles | FerrariChat

Should I Buy a 95 F355 GTS - 27K miles

Discussion in '348/355' started by firsttime owner, Apr 12, 2006.

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  1. firsttime owner

    Apr 12, 2006
    5
    Commonwealth
    Full Name:
    Tom
    I found an early year 1995 F355 GTS, two owners, 27K miles, 6 speed, valve job done at 14K, one of the exhaust manifieds was repaired (welded), drives tight, red/tan, ext/int in great shape. Dealership maintained. However the 15K service was done all the way back in Oct 2000 with no service to speak of since then. It is ready for the major 30K service ($6,200-8,900 in my area). Asking is $79,900.

    Here are my thoughts and tell me if I am sane. Ask for a leak down/compression test, have the dealership do a once over (my dollar) and if all comes out right, then ask to split the price of the 30K service with the current owner - which brings the price down to $75,450.

    Sound reasonable, or should I snap it up at $79,900?

    Does anybody know the longevity of the F355 engine if well cared for?
     
  2. ChalStrad

    ChalStrad Formula 3

    Jan 22, 2004
    2,249
    Lausanne Switzerland
    Full Name:
    Peter Mann

    Valve job at 14K miles??? Don't like the sound of that...

    Look for another one - don't take the risk.

    Ferrari V8 are really strong so no longevity problems - just ask why a valve job...
     
  3. jamie140

    jamie140 F1 Rookie
    Rossa Subscribed

    Oct 17, 2004
    3,292
    GTA/Marco Island, fl
    Full Name:
    Jamie
    12000 miles in 6 years and no oil/fluid changes?

    Run.
     
  4. Jerrari

    Jerrari F1 Veteran

    Jul 24, 2001
    5,469
    Michigan
    Full Name:
    Jerry Wiersma
    In my opinion that is a good thing. The valve guides on early 355's are a potential problem that in this case has been addressed, assuming that they replaced the brass guides w/ a stronger material. I do however think that $79,900 is about $10,000 too high for a 1995 model needing a major.
     
  5. Llenroc

    Llenroc F1 Veteran
    Rossa Subscribed

    Jun 9, 2004
    5,493
    Colorado
    Full Name:
    Vern
    Ditto on the valve guides that is a good thing not a bad thing. I would also agree on the price thing maybe 72,000.00 with service done and if the leak down/PPI is ok. Also did you say no service since 2000, no fluid changes. If that is the case same oil, coolant, brake fluid etc. I would look for another example there are enough cars out there. Regards, Vern
     
  6. ecadwell

    ecadwell Karting

    Nov 10, 2003
    203
    Bend, OR
    Full Name:
    Eric Cadwell
    I'm mostly with the others here. I don't have a Ferrari, but I follow the F355 market closely. The price is much too high, even with a major already done. Before moving any further, you need to find out what else has been done for maintenance. If there is no history, you are really rolling the dice - and the price needs to reflect that. Good luck!
     
  7. RossoCorsaItaly

    RossoCorsaItaly F1 Rookie
    Rossa Subscribed

    Jun 9, 2004
    4,684
    LA & OKC
    Full Name:
    Kevin
    F355's are notorious for valve guide problems. If anything buying a car without a valve job is a sound you don't like. One with a valve job and repaired manifolds should put a smile on your face. That puts the two most major problems out of the way.
     
  8. jakermc

    jakermc Formula 3
    Owner

    Jan 17, 2004
    1,804
    Palm Beach, FL
    Full Name:
    Rob
    Sounds like a nice ride and a 6-speed GTS will be the one of the most difficult configurations to find. New valve guides are a plus and dealership maintained is a plus (with records). Its needs a major, so use that as a negotiating point. $75,450 with completed major is still a bit high for a '95, but I like the idea that once its done you've very little to worry about for a while.

    If you really love the car and you have the funds, what's wrong with over paying just a little bit? I think a lot of people forget about the opportunity cost of the search. Besides the time consuming task of hunting all over the net, every month you keep looking is one more month of not driving. Thats got to be worth something. There were less than 3,000 GTS models brought to the US and most of the '98 and '99 models have F1 trannys. If I found one with in great shape, in the color I wanted, and with maintenance records I might be persuaded to over pay a little now versus waiting a few more months to locate another example.
     
  9. tstafford

    tstafford Formula Junior

    Mar 4, 2006
    754
    Nashville
    Full Name:
    Tim
    He can't possibly mean no fluids since 2000!

    At any rate - I agree the price seems high given the year and need for a belt service.
     
  10. mark328

    mark328 Guest

    Jul 30, 2005
    664
    Mi
    Full Name:
    Mark
    IMO that is way too much money.......I have seen 95-97 355 spyders with less miles and the services complete for that price. I would pass on the car unless you can get it for mid 60k.
     
  11. firsttime owner

    Apr 12, 2006
    5
    Commonwealth
    Full Name:
    Tom
    jakermc has a good point. I recently had genetic eye complications and didn't think I could regain my sight. I have to the point of being able to drive and I decided to treat myself while the gettin was good. Being genetic, I don't know what is going to happen next - I could lose all sight next month, next year or remain stable for the rest of my life. I have been driving Porsches for 23 years and decided to splurge. This car was local, I drove it, it's in great shape - it's what I want. So, yeah, I'm going to pay alittle more than I should, but I plan on keeping the F355 as long as I physically can. I negotiated the price down to what I wanted. The dealership is doing a leakdown/compression test. There were more records than I thought on the car and yes, the fluids were changed on a consistent basis.
     
  12. LMP234

    LMP234 Formula 3

    May 8, 2004
    1,518
    TN
    Full Name:
    Leon
    Pics!

    And we expect you to be here awhile since your an owner, so might want to fill in your profile.
     
  13. darth550

    darth550 Six Time F1 World Champ
    Lifetime Rossa

    Jul 14, 2003
    61,125
    In front of you
    Full Name:
    BCHC
    WAYYYY high!
     
  14. tstafford

    tstafford Formula Junior

    Mar 4, 2006
    754
    Nashville
    Full Name:
    Tim
    Congrats. Welcome to the F-car world and also F-chat. Post the results of your compression test and PPI. Then (assuming all goes well) post some pics.

    FYI - I think you will find this website very helpful in your first couple of months of ownership. There's nothing like an F-car but it can be quirky. The folks here are great about helping the newbie.
     
  15. jakermc

    jakermc Formula 3
    Owner

    Jan 17, 2004
    1,804
    Palm Beach, FL
    Full Name:
    Rob
    Congrats! Drive in good health!!

    Now go take some pictures for us ....
     
  16. 1Turbo

    1Turbo Formula Junior

    Jan 26, 2005
    675
    LA$ VEGA$
    Full Name:
    Jimmy K
    If you are Happy & satisfied with the Purchase Price, hats off to you :D
    I assume your Deal is contingent on the PPI. CONGRATS !!!
    Hopefully 180+ on all Cylinders :cool:
     
  17. Dr.T348

    Dr.T348 Formula 3

    Jan 8, 2004
    1,599
    Chicago NW Burbs
    Full Name:
    Richard T.

    I would agree completely. Congrats, hope you enjoy for a long time!!!
     
  18. firsttime owner

    Apr 12, 2006
    5
    Commonwealth
    Full Name:
    Tom
    2,4 and 8 were 13-14%, the rest 4-5%. Leakdown results fine
     
  19. notoboy

    notoboy F1 Rookie

    Jul 8, 2003
    2,531
    NYC
    Full Name:
    David
    Ditto!
     
  20. Moondog

    Moondog Karting

    Nov 4, 2003
    136
    North Carolina
    I agree.... Congrats and Enjoy!

    Remember... It's not the DEAL.... It's the FEEL!!!!
     
  21. BigSky355

    BigSky355 Karting

    Nov 8, 2004
    196
    Montana
    Full Name:
    Chris
    I believe the percentages you have given us are the leakdown values. Not sure if you want to see that kind of variability in the L/D numbers but maybe others can chime in.
     
  22. darth550

    darth550 Six Time F1 World Champ
    Lifetime Rossa

    Jul 14, 2003
    61,125
    In front of you
    Full Name:
    BCHC
    That's really funny.... until it's YOUR money!
     
  23. ^@#&

    ^@#& F1 World Champ
    BANNED

    Feb 27, 2005
    12,091
    I know of a 95 355B that sold recently for $79k. So it sounds like the price is reasonable.
     
  24. Moondog

    Moondog Karting

    Nov 4, 2003
    136
    North Carolina
    Darth, of course I am not supporting paying a huge amount over what would be considered "reasonable."

    I am sure you would agree there comes a point where if he really wants THAT car, and wants to enjoy it today, ....if that makes him FEEL good, then heck, I say go for it!

    The jingle "It's not the DEAL.... It's the FEEL!!!!" was used by an aquantance of mine once, and boy, sometimes its just funny and true. Does it really matter if the price of the *insert car or whatever* was low, if in the end, you don't feel good about the purchase afterward? Was it then really then a deal? Thats the point.

    PS. I'll bet you twenty bucks you at least think of using that quote within one month to a buddy!!
     
  25. firsttime owner

    Apr 12, 2006
    5
    Commonwealth
    Full Name:
    Tom
    Ok, the dealership said that the 13-14% values on 2,6 and 8 were 20% last year. The reason (they believe) is carbon buildup - the values would only come down because of that. They say that the buildup will decrease due to the car being driven more. Thoughts?
     

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