Why Are 348's so Cheap?

That would be very nice, but the cost of frieght for 2x5Litres bottles from USA to Australia would not be worth it.
But thanks anways.

 

And exactly where is the 348?

 

(pssssst Bengt, har du hørt noe från Henrik??)

 

The last time I talked face-to-face with a 348 owner, he had nothing but horror stories to tell about the car: funky electricals, outlandish service repair bills compared to other Ferrari models, bad build quality, crappy gearbox, poor handling...the engine HAD to be pulled to do any belt service...he put the car on-consignment with Ferrari of Washington, and the dealership asked him to take it back. It was a dog they couldn't sell to anyone. He eventually did unload it, lost money, and bought a 328 and never looked back.

I understand I'm in 'enemy territory' with 348-fans, many here seem to have criminally short memories of the 348 debut.....the obvious collision between the Italian and the Japanese NSX aside, GMC had a turbocharged pickup truck called the GMC Cyclone. Car and Driver did a comparison between the truck and the Ferrari, and the Ferrari didn't look very good in some key performance specs. Granted, the turbocharged sports-truck was an anomaly, but the 348 test marked a turning point - buyers could spend twice the money for a 348, but not get twice the car anymore. Cheaper, better-built, and better-performing cars were coming to market that challenged the spec sheets that only exotics possessed.

The 348 came to market with a price tag of $124,000 - far and away more than a 328 did, but the performance gains that the car offered did not justify the large price increase of the newer model (at the time). In fact, the handling of the earlier cars was so poor, the 348 was considered a step backward. Yes, we all know the later cars could be corrected (and WERE corrected by the factory in the later models) but the damage was done - box-stock 348s from 1989-1991 cost more than 328s, but handled worse.....there was more.

Ferrari was trying to build 'new' Ferraris the 'old' way, and it wasn't working anymore. Build quality of the early cars was TERRIBLE. Unsold 348s did, in fact, get backlogged so much so that some unsold cars were parked in Maranello. The factory does not dispute this. This is a fact: Ferrari brought quality-control consultants from LEXUS into Maranello to fix the 348 product, mid-production. There were gearbox and electrical problems to correct - they were eventually addressed in the later cars, but earlier cars were plagued with these issues. On earlier cars, ECU systems were susceptible to any water entering the engine compartment, causing the system to short-circuit and fail just from washing the car or driving in the rain. There was more......

A $124,000 Italian car - with significant plastic interior pieces, many of which became 'oily' with a film or resin-sweat from sun exposure or frequent use. The funky seatbelts aside (many new owners disabled the 'mouse belts' or defeated the gimcrack device), the interior marked a step backward in traditional Ferrari quality expectations. The leather was 'different' - better perhaps, but the greasy plastic pieces in a car with a sticker of $124,000 caused most people to scoff at the car - it was a boon for aftermarket carbon fiber trim folks, but seriously - if you were spending all that money for a Ferrari, did you really want to then go out and spend so much MORE money after-the-fact just to fix what the factory should have fixed before the car left Maranello? Many of 'today's cars have been fixed/retrofitted, lots of aftermarket solutions applied, and now there are very-good 348s out there - I'd love to have one, myself. But lets not forget the past - this car was a lowpoint for Ferrari, and really forced them to step up their game in many ways.

 

Chris, nice store and nice poster pieces! Do I have to buy a 348 to qualify for one ??

LOL you mean you did not see it??

 

I've had 2 348's and 1 308 now, so I guess I'm somewhat of a testament as to their reliability or lack thereof.

In terms of "jump in and drive", the 308 isn't in the same class as the 348. My 308 needed continual tinkering to keep roadworthy. If you're a tinkerer, the 308 is the car for you. If not, it's a headache (in my case, both figuratively and occasionally literally). I was glad when I bought it, and glad when I sold it.

Both of my 348's have been extremely reliable. The one common denominator in both is that the clock blinks "00" all the time. But I've got a watch that fills in nicely.

I also drive a Lexus SUV, and the 348's have been every bit as reliable.

As for interior parts, yeah, some of those rubberized parts can become sticky. But I think that carried over into the 355 series cars as well, so it's nothing specific to the 348 line-up.

In terms of exotics, I think the 348 is going to be about as reliable as you'll find out there.

 

It even carried over to the 360 .

 

Good retrospective. I think the hardcore 348 guys on here are intimately acquainted with all of this and just deal with it -- spacers for bad handling, oven cleaner for sticky plastic, learning to read ECU codes, etc. Although keep in mind the 355 is the real horror show in terms of service bills. A lot of us who like the looks of it, and have the car cash, won't go near one with our checkbook.

For someone new to Ferrari, I would steer them toward the 328 or 360 (6-speed), depending on their tastes. Even 328 parts prices are enough of a shock for most people.

The 348 is as reliable as a Lexus? Maybe the 328 is the closer comparison. Mine hasn't needed tinkering. But it's no Lexus.

Argh. Takes them a decade to sort stuff out...

 

My 348 has been (without a doubt) the most reliable auto I've ever owned. Of course preventative maintenance is the key to any auto, which I do religiously. Even my new vehicles haven't been as reliable as my 348.

I get in, turn the key, and off I go. No horror stories here.

I think M.James's friend bought a bad (spank) bad car.

 

"I understand I'm in 'enemy territory' with 348-fans, many here seem to have criminally short memories of the 348 debut.....the obvious collision between the Italian and the Japanese NSX aside, GMC had a turbocharged pickup truck called the GMC Cyclone. Car and Driver did a comparison between the truck and the Ferrari, and the Ferrari didn't look very good in some key performance specs. Granted, the turbocharged sports-truck was an anomaly, but the 348 test marked a turning point - buyers could spend twice the money for a 348, but not get twice the car anymore. Cheaper, better-built, and better-performing cars were coming to market that challenged the spec sheets that only exotics possessed."

History has a habit of repeating itself. Look at the current Viper/ Z06 comparisons to the 360/430 models. In 1989 the C4 generation Corvette had better performance numbers than a 328 based on Car and Driver criteria. Was it a better car?

"The 348 came to market with a price tag of $124,000 - far and away more than a 328 did, but the performance gains that the car offered did not justify the large price increase of the newer model (at the time). In fact, the handling of the earlier cars was so poor, the 348 was considered a step backward. Yes, we all know the later cars could be corrected (and WERE corrected by the factory in the later models) but the damage was done - box-stock 348s from 1989-1991 cost more than 328s, but handled worse.....there was more."

Ferrari’s own test data would tend to dispute your claim. Fiorano track test data 328GTB 1.44, 348TB 1.37. As a point of reference 355 1.34. In the 0-60 times, the 348 was faster as tested. My understanding is the early 348’s were not as predictable at the limit as the 328, but the limit was higher.

"Ferrari was trying to build 'new' Ferraris the 'old' way, and it wasn't working anymore. Build quality of the early cars was TERRIBLE. Unsold 348s did, in fact, get backlogged so much so that some unsold cars were parked in Maranello. The factory does not dispute this. This is a fact: Ferrari brought quality-control consultants from LEXUS into Maranello to fix the 348 product, mid-production. There were gearbox and electrical problems to correct - they were eventually addressed in the later cars, but earlier cars were plagued with these issues. On earlier cars, ECU systems were susceptible to any water entering the engine compartment, causing the system to short-circuit and fail just from washing the car or driving in the rain. There was more......"

The major reason 348’s were not selling was Ferrari’s largest market, the US, was in the midst of an, ahem, economic correction. I don’t believe the government referred to this period as a recession! Nothing was selling. Bought my cottage on the Cape for 50 cents on the dollar!

"A $124,000 Italian car - with significant plastic interior pieces, many of which became 'oily' with a film or resin-sweat from sun exposure or frequent use. The funky seatbelts aside (many new owners disabled the 'mouse belts' or defeated the gimcrack device), the interior marked a step backward in traditional Ferrari quality expectations. The leather was 'different' - better perhaps, but the greasy plastic pieces in a car with a sticker of $124,000 caused most people to scoff at the car - it was a boon for aftermarket carbon fiber trim folks, but seriously - if you were spending all that money for a Ferrari, did you really want to then go out and spend so much MORE money after-the-fact just to fix what the factory should have fixed before the car left Maranello? Many of 'today's cars have been fixed/retrofitted, lots of aftermarket solutions applied, and now there are very-good 348s out there - I'd love to have one, myself. But lets not forget the past - this car was a lowpoint for Ferrari, and really forced them to step up their game in many ways."

No argument here. The plastic parts with the rubberized coating used in the 348/ 355 models was shameful.

In my humble opinion the 348 has received bad press for a variety of reasons. It was a departure in many ways from the traditional body on frame build philosophy Ferrari used for years. The early models did have known issues. As to the lowpoint for ************ to a 355 owner who has had to replace headers, valve guides, premature cylinder wear etc, or a 308 GTBi/ GTSi owner who did not get their motor replaced years ago, or TR/ Boxer owners who have differential failures due to poorly speced parts! Just a few examples of Ferrari lowpoints!

As to the 328. Again just my opinion but the last generation of the most beautiful cars ever built, although I prefer the earlier Euro 308QV! The 328 is regarded as the most dependable Ferrari and well deserved. An appreciating classic!

Michael, you are an hour away in Worcester. If you have the time come visit us any Sunday at Starbucks in Beverly. Meet a couple of 348 owners, ss and spider, with good ownership experiences!

 

If it ever stops SNOWING in this crap-ass town, I just might do that.....BTW, how late do you guys hang out there? I've found Beverly on a map, but I've only been east of Sudbury a handful of times....

 

Shall we keep an eye on this '94 Spider at $8100 as I post this?

http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&sspagename=ADME%3AB%3ASS%3AUS%3A1&viewitem=&item=120105211865#lg

OK, 46K miles. BFD. Somebody please bid that baby up, up, up.

 

Too easy!! Just steal Daniel's wheels and away you go!!

 

I asked about this dealer on the midatlantic board and was told to run for the hills.....

Lake forest ferrari dealer in chicago has a '92 TB black/tan with tubi and speciale gears, 20K miles listed for $54K needing a major. Called and they were willing to do a major on it for the 54K price. Chicago fchatters said the paint on that car had swirls but maybe a good detailer could take care of it. Lake Forest seems to have a very good rep as a dealer.

 

Car looks great! That front plate looks like a bit of a shocker though!

 

I saw a TS with the roof painted to match the car (in this case Rosso Corsa) and it looked 100% better IMO. Unfortunately paint won't solve the creeks...

 

Those seats put a fantastic new definition on the word UGLY! Good lord, when shopping for homes or cars it's amazing how many people just have no sense of style or taste for that matter!

 

Agree!!
Car looks great, but I dont like the red paint behind the front grill. Dont like the seats or that 'missle' toggle switch on the centre console either. I wonder what the toggle switch is for? But........I do like the look of that steering wheel and the 360 wheels.

 

Sounds about right - hence 328? right?
or 512 TR
etc.

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