Thoughts on buying a 80K mile 355?

Get your own PPI done and if it checks out then go for it...as long as the high miles are reflected in the price as it will be a tough sell if you drive it much more.

 

As already said, get it inspected. If it checks out, and has had all the said work done, then go for it.
I get sick of the old high mileage argument, there is no argument IMO. If the cars been looked after then what's the problem, an engine is an engine. And put it this way, you get the same great looking f355 as the top of the price range cars, for much less.
In my 30 years experience in owning ferraris, I have seen many many silly reactions to 40k plus miles Ferraris. I have seen many people (usualy ferrari owners) stand back an admire/drool over a Ferrari model,but once they stick there heads in the cockpit and see 40k plus miles. Suddenly it all changes and the car no longer seems/looks as great as it did 12 seconds ago
Stupid Ferrari owners, we are our own worst enemy's.

 

That's incredibly stupid.

 

It is not stupid. It is just adjusting to the lower resales values of a Ferrari with more than 50K miles. If you are just looking for a driver, then buy it and who cares about the next guy.

 

This always amuses me.
If you were looking to buy a 246 Dino.

Would you pay more for the car which has 30k miles showing and is totally original / unrestored?
Or would you pay more for a car with 80k miles showing which has had a full engine rebuild?

Assuming both are cosmetically the same, I know where my money would be going...

 

What happened to that cream puff?

After reading some of the posts on this thread I'm goin to hold off until a 100K miles car goes up for bids.

 

Umm...I was talking about people who look at an Ferrari with 40K miles or so and act like it's no longer a Ferrari. I'm sorry, but that IS stupid.

 

As said above, the resale price suffers with high milage. The advantage, however, is that you will probably have a better driver. Many of the guys on this site have said 355s just plain work a lot better when they are driven regularly. I haven't had mine long enough to know, but it was certainly true of my 348. Maybe its true of all Ferraris, or even all cars.

 

I suppose there are advantages and disadvantages to both sides of the mileage / age scenario.
I had a 12,000 mile 87 328 in the shop last fall for a list of "it doesnt work" items. A long list. The car looked superb but no better than my 86 with 61,000 miles and my 328 performed better in every way. The 87 had a stiff clutch, inoperable hvac controls, windows that were phantom operated, vibrations from flat spotted tires, dried out seals and on and on. Color and options identical. In this case any savings in buying a higher mileage Ferrari (328/355 etc) would be negated in servicing a lower mileage one that sits unsed for months at a time. Add in the dreaded timing belt(s) saga and all bets are off...
I would consider a well maintained higher mileage car over a low mileage garage queen.
Also in the shop recently was a 26,000 mile 355 that looked like it had 126,000 miles on it and it ran very well...
Just my view point.

 

what's the asking price on a 99'355 f1 w/80k miles?

 

+1

 

It probably did have 126k miles.... most of them with a different speedometer cluster installed.

 

The 360 pump swap only costs about $3000, and will only have to be done once. There are a lot of other things on a 355 that cost more, so I wouldn't worry about that much. I wouldn't be concerned about buying a high mileage, medium mileage, or low mileage 355 as long as all of the major service items have been addressed, because you WILL pay for them at some point. As noted, you'll have to change the F1 pump eventually, along with the headers, hoses, sticky parts, and potentially valve guides. Mileage is like age.. it's just a number.. ie, Raquel Welch is 71 years old and if she were a Ferrari, I'd drive her from coast to coast, repeatedly, ifyaknowwhati'msayin.

 

I've owned Ferraris over the last 20 years and I will say low miles cars sell much easier (assuming you price them right) than high mileage ones. I've seen many people that start off with that mind set that they want to buy a car that has been driven (they're really saying they're looking for the cheapest car out there) they own it for awhile, and then when they want to sell it for the sky and the moon. Silly but that is the way most Ferrari guys operate.

 

If you are keeping the car, make your own judgement regarding how well it's put together. If you are a temporary owner, then consider the resale options. I never buy a car without at least considering an exit plan even if I never intend on selling. How many times have I said that in my life?!

 

If you replace the headers with stock units, they will go again every 25,000 miles or so.
If you replace the valve guides with new better valve guides, then they are likely set for life (but life for a ferrari is not life for a lexus)
If you drive your car daily, expect a large bill every couple years for maintenance (O2 sensors, Thermocouple, ECU, major outs, clutch, flywheel grease, window units)

But, you will have fun. Good Luck.

 

You are exactly right. Buy a car with the issues addressed. You will have a trouble free ownership. However, you won't find those cars in your price range. The "35-45k cars, need 25k worth of work... Regardless of mileage.

PM Robin here if you'd like the best of both worlds... I hear he is selling the best of the best "high mileage" sorted 355s

 

I think you are on the right track with your assumptions. The 355 has many issues from the factory. Most can be addressed with perminent fixes. Once sorted they are very solid cars. The issue you will run into is that it is still a Ferrari. Expensive, tempermental, extreem, the most fun you can have with your clothes on.

From my knowledge I would expect that most cars above 30K miles and nearly all cars above 50k miles would be sorted by now. There are always exceptions but if looking for a driver even 30k miles is considered "high" by many in F-land. I chose a 35k mile driver that needed some typical cosmetic stuff. I am VERY happy with the bang for the buck I received. I have had to mess with the cat ECU's a bit and need to fix a broken gear in the suspension actuator but other than that she has been great.

For here I would say you are ready. You have the knowledge to make an educated purchase. There is always risk when dealing with the 355 but it sounds like you have done enough research to minimize the risk.

Good luck and the feeling of driving the F355 NEVER gets old.

 

Seems like owners/sellers/Dealers in the U.S. do not tamper with the clock/mileage,
unlike here in Germany. For about 100 € one can "set back" the clock at will.

So here in Germany low mileage cars do not necessarily reflect the actual mileage nor condition of the car.

Most potential buyers do focus primarily on mileage so at least here in Germany many cars

are fakes.

So, are American car dealers more honest ? Having lived in the U.S. before myself, I'd say probably yes.

 

Oh please
As long as there is big bucks involved, there will be clocking no matter what country your in.

 

In Germany high mileage F-cars are extremely rare, not so in the U.S. it seems.

 

80k mile 355 for 35-40k sounds like a lot of money for that many miles after seeing what 355s have been sold for in the last yr.

always remember, there's huge difference btwn asking price and selling price.

 

Got you covered man (thanks 355Dreamer )... My '99 with 52k miles is in the shop right now getting a few things put back to stock in order to get it ready to sell. Should have it back in a few weeks, at which point it'll get listed here and some other places. I have absolutely no idea what anyone is willing to pay, but considering I took it from behind without lube over many years replacing all the usual Ferrari engineering WTFs, the car is just about as perfect as it gets and should be easy to maintain.

I think you're on the right track looking for a higher mileage car... I bought a nice low miles car 7 years ago and have put more money into maintaining it than it would cost to buy a perfect example today.