Should I buy this F355? | FerrariChat

Should I buy this F355?

Discussion in '348/355' started by dtlow, Aug 15, 2008.

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  1. dtlow

    dtlow Rookie

    Aug 8, 2008
    2
    #1 dtlow, Aug 15, 2008
    Last edited: Aug 16, 2008
    There's private party selling a 1995 F355 with 30K miles for $70K. Looks clean. However, after the local Ferrari dealer conducted an extensive PPI on it, they found these needed repairs:


    1. Replace alternator $1600
    2. Exhaust Manifolds/Leak $7000
    3. CV Boots $1500
    4. Radiator needs to get flowed $1300
    due to overheating
    5. Clutch, Bearing Flywheel $5600
    6. Remove gearbox for clutch $1500

    So roughly $20,000 for everything. Holy sh**!!

    Now the seller says to take everything the dealer says with a "grain of salt" since they are selling their service, but do I just walk on this one? When the seller asked me to make an offer, we danced around and agreed to $56,000. But after talking to a Ferrari-owner friend of mine, I'm getting nervous about this car, so the seller suggested I take it to an independent Ferrari mechanic who does these repairs much cheaper.

    I should mention that during a test drive the car ran and sounded great. When I asked the Ferrari service manager about the PPI, he said that the clutch didn't need immediate repair, but everything else was important.

    At the right price I would buy it, but need your guidance. What's a fair price given the above estimate? $40K? Are the repair items critical as the service manager said, or is he just trying to cash in on some frivolous, unnecessary repairs?

    Thanks everyone for your help. This would be my first Ferrari, so I appreciate your input.
     
  2. 285ferrari

    285ferrari Two Time F1 World Champ
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    Sep 11, 2004
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    Tell the seller to make all the repairs and then agree on a price... A good independent will be cheaper than the dealer--Example is the headers $7k for Ferrari ones that will go bad again or a set of aftermarket ones for less than half that price----That is a $4K difference right there..
     
  3. PAP 348

    PAP 348 Ten Time F1 World Champ
    Lifetime Rossa Owner

    Dec 10, 2005
    100,228
    Mount Isa, Australia
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    Welcome to Ferrarichat dtlow. :):)

    I would take it for another PPI elsewhere first. :):)

    Then, see what is needed for repair. Could be the same list of repairs. Could be more repairs needed, could be less repairs needed?? Who knows?? Unless you know AND trust the guys at the Ferrari dealership, I would get a second opinion regarding that PPI brother. ;);)

    Then..........work out a price with the seller. :):)
     
  4. ernie

    ernie Two Time F1 World Champ
    Lifetime Rossa Owner

    Nov 19, 2001
    22,620
    The Brickyard
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    The Bad Guy
    #4 ernie, Aug 16, 2008
    Last edited: Aug 16, 2008
    Allow me to fill you in

    NOT!!!!

    You can rebuild it yourself for less than $100. Here is the link to all the information you need to do it yourself http://ferrarichat.com/forum/showthread.php?t=142329
    NOT!!!

    The factory headers are CRAP!!!! DO NOT put on stock headers.
    You can send your stock set off to QV London to have them fix them http://www.qv-london.com/home.htm
    I'm not sure what the boys are charging these days, but I think it's something like $1,500, and you have to send them your headers ?????

    NOT!!!

    Each boot can be bought for about $40. With the grease you are again looking at about $100 total.
    Here is how to do it yourself. Not a hard job just MESSY http://ferrarichat.com/forum/showthread.php?t=80955
    NOT!!!!!

    It could be one of a few things.

    1) The air needs to be bled out of the system. Something you can do yourself for FREE.
    2) The thermostats needs to be replaced. $121 from Ricambi. That is IF you need the part, and something you can do yourself.
    3) You may need to check that the cooling fans are coming on. You could have a temperature switch problem on the radiator, $21 part from Ricambi.

    Even if you need to flush out the radiator you can remove it and take it to any radiator shop to have them boil it out for about $50.
    NOT!!!

    The throw out bearing is $594 from Ricambi

    May as well replace the triple seals while your are at it. Those are $14 for the set.

    NOT!!!!

    The gear box DOES NOT come out to replace the clutch. You need to remove the rear bumper, and exhaust out of the way. I can have the rear bumper off in 30 minutes. You for your first time an hour tops. Same deal for the muffler.

    Sounds like you may need to have the flywheel resurfaced and repacked.The can of Kluber Grease is $121 from our boys at Ricambi. Here is a thread with some more info on what the job entails. Again something you can do yourself. http://www.ferrarichat.com/forum/showthread.php?t=152737

    This thread goes into replacing the flywheel and the throw out bearing I mentioned above. http://ferrarichat.com/forum/showthread.php?t=173263

    I think the term you are looking for is bullsh!t. ;)



    So let's see

    Alternator rebuild yourself = $100
    CV boots repacked yourself = $100
    Thermostat & temp sender replace yourself = $142 (for both)
    Air bled out of system = FREEBEE $0
    Throw out bearing = $594
    Triple seals = $14
    Can of Kluber Grease to repack flywheel yourself = $121
    Headers fixed by QV London = ?dunno? Maybe $1500???

    Not getting boned by the dealer for $20,000 = Priceless


    Welcome to Ferrarichat. Learn to use the search function as you will find LOADS of stuff in the archives.
     
  5. dtlow

    dtlow Rookie

    Aug 8, 2008
    2
    Ernie,

    Unfortunately, I am mechanically-handicapped and know nothing about cars, nor do I have the tools. I assume I add a few thousand to your estimates for labor? That's a helluva lot better than $20K!! ;-)

    So now I ask you guys how much should I offer for this car given these issues? What would be a fair offer?

    Thanks again,

    dtlow
     
  6. fatbillybob

    fatbillybob Two Time F1 World Champ
    Consultant Owner

    Aug 10, 2002
    29,223
    socal
    pay for a cylinderhead leakdown test and report the results here. Bad headers imply bad valve guides. 20k could be a cheap repair. This car could cost you 40k in no time flat. If I was a mechanic I would love to just fix 355's all day long....ka-ching!
     
  7. 285ferrari

    285ferrari Two Time F1 World Champ
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    ERNIE FOR PRESIDENT!!!!!!!!!!!!!!!! What an awesome post!!!!!!!!!!!!!!!
     
  8. PAP 348

    PAP 348 Ten Time F1 World Champ
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    Dec 10, 2005
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    Lol!! +1! :D:D
     
  9. Shaide

    Shaide Formula Junior
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    Jul 8, 2008
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    Las Colinas, DFW TX
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    Jason
    OMFG! I've been lurking for a while, but just put a deposit down on a 348. Should be delivered in a week or so. However, after reading this thread, all I can say at the moment is <3 <3 <3 Ernie!

    Excellent info all the way around. I thought I was in love looking at the car... now I've eyeing Ernie. Wuwu!

    Seriously though... many many thanks.
     
  10. PAP 348

    PAP 348 Ten Time F1 World Champ
    Lifetime Rossa Owner

    Dec 10, 2005
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    Pap

    Welcome to Fchat. :):)

    Dallas/Honolulu/QLD? :D:D

    Where DO you live man?? Where abouts in QLD anyways?? Where will the 348 be garaged? :p:p

    Congrats on the pending purchase! Did you leave a deposit or did you purchase it?? You mentioned deposit, but then said it is being delivered in a week or so? :):)

    Hope it all goes well for you mate. :):)
     
  11. PAP 348

    PAP 348 Ten Time F1 World Champ
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    Dec 10, 2005
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    And dont worry Jason........if you are half handy with tools, these cars are a breeze to work on. ;);)

    That is half the fun of Ferrari ownership I reckon! :D:D
     
  12. cuneo

    cuneo Formula 3
    Silver Subscribed

    Nov 20, 2006
    2,484
    You gotta love the price drop, $70K to $56K. Priceless.






    RUN FORREST RRRRUUUUUUUUUUNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNN
     
  13. Dean355

    Dean355 Formula 3

    Sep 4, 2006
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    Ernie strikes back!! As usual... OUTSTANDING!!!
     
  14. 1ual777

    1ual777 F1 Rookie

    Mar 21, 2006
    2,948
    Orange County, CA
    Ernie: YOU DA MAN.
     
  15. jm348

    jm348 F1 Rookie
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    Mar 21, 2007
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    Jeff M
    If he is willing to take 56K? buy it.......no way he lets it go for 40K though :D
    Make sure compression/leakdown are acceptable first.
     
  16. ernie

    ernie Two Time F1 World Champ
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    Nov 19, 2001
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    The Bad Guy
    Thanks for the kind words boys.

    I don't mind when someone is getting charged a fair price to do good work. But that was just WAAAY to ridiculous of a price to keep my mouth shut.
     
  17. RebelBanker

    RebelBanker Karting

    Mar 24, 2008
    232
    Let me fix it.
     
  18. PAP 348

    PAP 348 Ten Time F1 World Champ
    Lifetime Rossa Owner

    Dec 10, 2005
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    +1! :):)

    If only he was closer to Mount Isa, we would certainly have some fun! :p:p
     
  19. jetfixr

    jetfixr Formula 3

    Jun 14, 2007
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    You took the words right outta my mouth... KA CHING
     
  20. technom3

    technom3 F1 World Champ
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    Mar 29, 2007
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    buy mine!!!!!!!

    http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&category=157044&viewitem=&item=330262788294&_trksid=p3907.m29


    i don't know what the guide lines are on this message board to advertise. whatever they are, let me know and i will comply!

    thanks for your help
     
  21. PAP 348

    PAP 348 Ten Time F1 World Champ
    Lifetime Rossa Owner

    Dec 10, 2005
    100,228
    Mount Isa, Australia
    Full Name:
    Pap


    I wont tell if you wont tell. ;);)
     

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