Why Are 348's so Cheap?

I think a lot of people are spooked by the cost of a Major, and a lot of people are spooked by the 'alleged probability' of a timing belt breaking and having to pop for a new/massively rebuilt motor/valve train.

It just seems like reading about 328's and 348's here, is that it is a 'given' that it will happen.

But as I say, if you can't afford the upkeep, you can't afford the car.

I will be looking for a 1994-95 348 Spyder in a few months.

 

Good luck on the Spider search - that's probably where I would go if I went for a 348.

Few thoughts on the recent posts:

1. 65K miles is high for any modern-ish Ferrari, relative to what's on the market. It is hard to justify the service costs of a hard-to-sell high mileage 348 versus a '95 Spider with 10K miles and the same service costs. They also overlap the market segment containing the 308/328, and those cost less to service. The 348 has its plusses and minuses compared to the earlier V8s, but they all play for the same first-time owner buck.

2. It is not a 'given' that timing belts will snap on a well-kept/driven Ferrari. And yes, the single belt design of the 348 makes for worse odds - more things to go wrong in the cam-belt train. Enough so that Ferrari ditched the design with the F355. This is likely one reason mechanics dissuade people from buying this model. It's not something to brush off, because as posted here it's expensive - to the point where one FChat-er recently sold his 348 rather than repair the grenaded engine.

At the same time, it makes the 348 something of a deal in terms of purchase price -- 300bhp is a nice bump over the 328's 260bhp, and a leap ahead of the 308 QV's 235bhp. And the cockpit is more 1980s compared to the 308/328's 1960s ergonomics.

3. I'd welcome dealer input on this, but IMO the market is not slow now (in mid March). It's 88 degrees in southern California today, and my calendar is full of FOC events, first local concours in mid April. Anyone doing spring shopping for a Ferrari is doing it now. It's hard to get an appointment at the local Ferrari tech's shop now - tons of servicing on new and old cars being readied for the driving season.

 

348's are inexpensive because so few people even know they exist . The first time I saw one, was on ebay back when I was shopping for my 993TT 8 years ago. Before that one I had 'never' seen one on the street....ever !!!

One cannot covet what one does not see or even knows exists !!

 

So drive the hell out of the car so the price goes up? LOL.

 

no one said "drive the hell" out of them Everyone knows 348's can't handle that kind of driving anyway that is why they only leave the garage to go to the "authorized" service shop to change out the rotten belts and flat spotted tires from sitting months at a time and apreciating in price

 

And your point being.......

 

LOL Ok, here is a nice pic for the hell of it
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Here is another nice pic, just for the hell of it.
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Pap,

You are killing me with this guy!

I offered to send 5W40 to you too!

Why are 348's so cheap?

Well, when Chris bought one the market collapsed!

 

Who the hell is that guy with his but hangin out & where did he come from?
I can't stand him anymore. LOL

 

It's Pap's brother in law.

Pap wants the shorts but stallion will not hand them over to him no "butts" about it!

Remember, Pap's "down under"!!!

 

QUIT SELLING THIS CAR SHORT !!!!!!!!!!!!!!!!!!!! IF YOU CANT AFFORD IT, DON'T BUY IT. You are continuing to lower the value of this car by selling it for $30 - $55k. This car is worth more ! I think you can find a YUGO out there somewhere.
Darryl

 

Yugo here, yugo there. It's all the same.

It was still a Fiat!

Chris needs a Yugo.

 

http://www.sportscarcompany.com/ferrari.aspx

Two red/tan 348 spiders here in San Diego - 40K miles and 21K miles. $49K/$54K respectively. Negotiable, but looks like the 21K car is due for a major and the other one might be as well.

 

What did you do with the promo stuff??

 

Thanks for the poster offer but I only post babe posters in my garage Dude, you have a rockin' store!!!

 

Chris, Great looking store.
DM

 

Very cool shop alright!