The value of low miles??

Ben,

I'm not well versed on 348 values, but since no one else has responded yet, I would suggest between $0.30-0.50/mile, in otherwords 3k-5k.

Hopefully someone with more knowledge than me will speak up.

Simon

 

I would say $3k is about right assuming the cars are in similar condition. I think any value difference in excess of $3k would need to be attributed to better condition.
BT

 

Its all about condition. The car that has sat and not been used properly, but has low miles, is worth less than a well cared for car that has more miles.

 

i don't think the mileage difference is big enough to make a difference. buy on condition.

john

 

I agree. Let condition dictate value. People get too hung up on miles or age instead of condition & care while owned...


Good Luck in your search!
Chris

 

Yes, I would rather buy a car that has had the eminent issues that arise with miles dealt with, than a car with "low miles" that is a money pit waiting to happen!

 

If service history matches the mileage I would say 30 cents a mile - $2700.

 

Low miles mean alot to potenetial buyers. High mile cars are more difficult to sell and you end up selling the car for a lower price. Of course, who cares if you had a blast putting on those miles as opposed to walking around it a dozen times every time you enter your garage.

 

It is very unfortunate that we tend to keep low miles on our Ferrari's for the sake of the next owner.

Heck with my 993TT I put over 65k miles of the 96k miles I sold it with. When I was done with it, the engine was in better shape than when I bought it. I put upgraded turbos, resealed the motor, clutch, replaced the hydraulic lifters, replaced the front bumper with a euro with the "S" spoiler and upgraded the suspension etc.. All parts were factory upgrades from the dealer. At the 90k service the compression average was 95% of new! The PPI mechanic had nothing but praises to say and said he inspected 993TT's with 1/3 the miles and were not even CLOSE to the shape mine was in, engine and body! The buyer even appologized after the PPI for trying to talk me down on my price.

So it goes to show that "Low Miles" can be very misleading in the condition of a vehicle. Like chrmer3 said: Let condition dictate value. People get too hung up on miles or age instead of condition & care while owned...

Anything wrong with a car can be fixed or replaced with the same or better than the factory.

It seems to me that the "low miles" crowd, uses that as a crutch for a lack of automotive knowledge. Unless you are adding to your collection of museum pieces, you should drive the car and address the issues that arise with a high regard for quality.

No wonder Ferrari offers "unlimited mile" waranties within the 2 or 3 year time frame. They know most owners wil just use them as conversation pieces!

 

Amen to that! I bought my '99 355 GTS last year with 16K miles on it. I am spending some dollars now to bring a few niggling things up to snuff, but I plan to use the car as a "road warrior" and do lots of driving. For me, it would be too hard to just admire the car sitting in my garage when I love to drive so much. And if/when I ever decide to sell, I'm not going to worry about getting a lower price, as the driving experience will have been "priceless".

 

I agree with that my 355 Spider has 20000 miles but has had a ton of work done to it and has been kept in great condition it also comes down to what kind of miles low mileage badly driven is not a good thing

Martin

 

Ditto...

Condition, not mileage, especially at that level.

I actually prefer the ones with a bit more mileage because it brings out the things that are going to go bad - even squeaks and rattles.

 

Ditto. And whatever car has the better documented service history.

 

I have a little different take on driving a Ferrari too much. I'd like to hear other opinions on this observation. It seems that every time I took my Ferrari out for a drive, it got so much attention that other people driving wouldn't pay attention to thier own driving. A couple of times I almost got hit by other drivers who were in front of me while looking in their rear view mirror instead of looking straight ahead. Sometimes driving in town was just more of a hassle because of constantly having to pay attention to other drivers around you. Now taking the car out on a two-lane road early in the morning was just GREAT....no cars, pretty much by yourself...great time to drive a F-car.

 

I was just talking about that with a friend at lunch. I would never commute with it. No traffic jam miles!! Just quality miles like open highway and mountain roads etc. Gotta keep thoses timing belts, seals and tires from sitting in one position. Plus why the hell have the car! A Ferrari by its very nature, should be driven from the drivers seat and not the armchair!!!

P.S. How does one almost get hit by someone driving ahead of you looking in the rear view mirror?? :-?

 

I thought about that after I hit the submit button. Let me explain, what I meant to say is this guy was looking out his rear view mirror (for more than just a couple of seconds) while I was behind him in the next lane over, he proceeded to go into my lane (since he wasn't paying attention). If I wouldn't have been wathcing for him, I might of hit him as he abruptly entered my lane. I was expecting it so I was able to slow down, and he was able to realize what he had done, so he got back into his own lane.

The cars are just a heck of alot of fun on windy two-lane roads. I love it...

 

found a $70k dealer sale on a '97 355 spider 40k miles red/tan, books records both keys and car cover, three owners major done, dealer offers to fix any glaring problems. i plan to go 80 miles per day on a windy two lane hiway almost 4 days per week, no traffic just cows and hills. first time buyer, will plan on 2-3k per year upkeep. should i jump on it or wait till fall? thanks for your help. so what happen after 50k to 90k miles? this is a great site. leslie-ca

 

Sounds good so far...same year as mine! Try and find out if the valve guides have been replaced or inspected, along with the catalytic converters. That was a big buying point for me. The previous owner had them both done at the 30K service.

Check out receipts for this evidence not just verbal. Get a Pre-Purchase Inspection too. It is two to three hundred well spent. Check out the function of the convertible top as well.

Sounds like a nice drive 4 days a week. Is that south orange county?