Looking to buy a Ferrari - need advice please - Ferrari Life
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post #1 of 31 Old 06-15-2010, 01:48 PM Thread Starter
 
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Looking to buy a Ferrari - need advice please

I am looking at purchasing a 348 as it seems to be the least expensive Ferrari to buy. Even the older model (328) is more expensive. And the 308 is too vintage with not enough torque by today's standards. The 355 is more expensive than the 348 - so, I'd like to know why it is that the 348 is so much cheaper. Some have touted it as the "worst Ferrari ever built". Is there any credibility to this? Are the maintenance costs prohibitively high on the 348? Does it has a reputation of breaking down more frequently than other models??

Would love to hear from people that have owned or are owners of a 348.

tia!....
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post #2 of 31 Old 06-15-2010, 02:22 PM
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I recommend driving the 328, 348, 355 yourself and determining which one is for you. they are all pretty much within 20k of each other. The 328 is probably gonna be the least expensive and problematic. then the 348 then the 355. Most people, excluding 348 owners, consider it the least desirable mid/rear engined ferrari. that has put downward pressure on the price. But truth is, of three well sorted cars, the 348 will be right between a 328 and a 355. right where it's supposed to be. Either way you go, don't try to save money on the front end. these cars rarely have more than a 10k spread from mediocre to great. Not worth it, by the great. believe me on this. Buying a ferrari based on price is a bad idea. figure out what you can afford, what you like, then pick the best one you can. forget about the rest.



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post #3 of 31 Old 06-15-2010, 02:44 PM
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Great post by Wetpet. I really agree with his arguments. I do have to say, though, that your statement about 308's seems more based on prejudice than experience. You have to remember that '70ies cars are a lot lighter, and a well sorted fibreglass 308 can give a 348 a run for its money. Really!

But I understand if you want to leave 308's behind.

I don't have personal experience of the 348 but know several people that do. Their experiences have all been positive, so it seems to me that once your 348 is sorted you have little to worry about. I think that the 348 when new had some issues which gave it its reputation, but nowadays most of those issues have been sorted by previous owners, leaving you to enjoy the car.

Best of luck, I hope you find your dream car soon! But - don't rush it! Better to buy the right car late than the wrong car early.



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post #4 of 31 Old 06-15-2010, 03:01 PM Thread Starter
 
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OK - thanks for the responses. There are 348s on ebay right now for ~34K, while the 355s are 20K more on average. Not exactly pet cash differences in cost to buy. If the issues had been sorted out on the 348s then why are their prices still considerably lower? Are the maintenance costs higher?

As for the 328s they're about as costly to purchase as a 355. So given all things equal why buy a 328 vs a 355?

Thanks again.....
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post #5 of 31 Old 06-15-2010, 04:24 PM
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No such thing as a 348 for 34k. Yes, you may purchase one for that price, but it will not cost you that much. A well sorted 348 i would imagine would be more in the 40-45k price range, about the same a s a well sorted 328. a 355 could be had in the mid 50's but i imagine you would have to sink another 5k+ into it. These three models are more in the 40-60k range. Not a huge difference. I imagine deals could be found at the low and high ends.

Why buy a 328 over a 355? The most obvious answer is the maintenance cost. 355's had valve, header and cat issues, among others. Don't even start on the spider's top. These are very expensive fixes if not done already. There is also the service issue. You have to pull the 355's drivetrain to do major engine work. The 328's engine can stay in. Cheaper. There are also styling issues. The 328 is considered a more classic style and the 355 more modern.

Why do people buy the 355? well, they are faster, sound and handle better and are more modern.

It all really comes down to what you want and what you are willing to pay for it. But like i said before, pay for it up front. Not on the back end. Or you may get it in the back end. people who present with primarily cost issues are easily shuffled towards the 328. younger guys with a little more money to burn are usually shuffled towards the 355. The 348 exists in the quirky middle ground. Sorry 348 guys.



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post #6 of 31 Old 06-15-2010, 04:59 PM Thread Starter
 
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What about the electronics? I have heard/read that these models listed above have issues with these.

And where do you guys buy reasonably priced parts? The ones I have seen on eBay are through the roof.
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post #7 of 31 Old 06-15-2010, 05:32 PM
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If you are looking for the least expensive Ferrari my advice is don't buy a Ferrari ... period!! Ferraris are not cheap to buy or own, please don't buy based on the cheapest price because you will regret it later.. The advice the guys are giving here is great advice, buy from a reputable source and be prepared to pay extra for a complete service record etc personally I love the 355 but maintance costs are high (I spent over 12k in one year and that was 9 years ago)
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post #8 of 31 Old 06-15-2010, 05:35 PM
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remember that when you are reading about all of these problems, they happen to a small percentage of the cars. Not all of them. I'm sure there are many people that have had no problems what so ever with their 355 when they owned it and people who have paid 10's of thousands on their 328. Just educate yourself and buy the best condition/sorted car you can afford. Do not look for a bargain unless you are/know a good mechanic.

Reasonably priced ferrari parts? BWAhahahahahaha!!!!!!!!!!!!!!

That's a good one!

the only people that think ferrari parts are reasonably priced are lamborghini owners.



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post #9 of 31 Old 06-15-2010, 05:56 PM
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I'll second that - cheap parts are not Ferraris strong points :-)
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post #10 of 31 Old 06-16-2010, 01:27 AM
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Quote:
Originally Posted by wetpet View Post
remember that when you are reading about all of these problems, they happen to a small percentage of the cars. Not all of them. I'm sure there are many people that have had no problems what so ever with their 355 when they owned it and people who have paid 10's of thousands on their 328. Just educate yourself and buy the best condition/sorted car you can afford. Do not look for a bargain unless you are/know a good mechanic.

Reasonably priced ferrari parts? BWAhahahahahaha!!!!!!!!!!!!!!

That's a good one!

the only people that think ferrari parts are reasonably priced are lamborghini owners.
+1. And that is modern Ferrari parts. How about vintage parts ???...I uderstand that someone in the States recently bid successfully for a Tipo L Dino horn button for US $4161.00 !!!!!!!!!!!! If this is true, this is simply insane. w/ smiles Jimmy
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post #11 of 31 Old 06-16-2010, 07:07 AM Thread Starter
 
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Originally Posted by Dermot View Post
If you are looking for the least expensive Ferrari my advice is don't buy a Ferrari ... period!! Ferraris are not cheap to buy or own, please don't buy based on the cheapest price because you will regret it later.. The advice the guys are giving here is great advice, buy from a reputable source and be prepared to pay extra for a complete service record etc personally I love the 355 but maintance costs are high (I spent over 12k in one year and that was 9 years ago)
How does one know if they are buying from a "reputable source"? And even if one bought from a reputable source that does not guarantee the car will not have other issues during your ownership.

I am not looking to buy the cheapest Ferrari but like everyone else am looking to buy the best one for the money. Concurrently that does not mean buying the most expensive either.

I own a 7 series BMW and am well aware of higher parts costs through dealers. But eBay and the internet is loaded with BMW OEM parts distributors that charge are a fraction of the cost my BMW dealer charges - for exactly the same part. So my maintenance costs to run my BMW have never been excessive. Are there no OEM Ferrari parts distributors that offer reasonable prices for parts or am I limited to just dealer parts and their inherent high costs?
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post #12 of 31 Old 06-16-2010, 11:27 AM
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i never was a big fan of "reputable sources". I'm a fan of trust but verify. A top flight mechanic is much better than a reputable source. There is some truth to going through a dealer that is supposedly bound by some laws and good faith. An excellent deal can be had from a con man and a total CF can be had from the highest rated dealer. Pre purchase inspection from the best mechanic you can find and research of the history is really the best you can do. There are "other" parts sources like a great sponsor hear-Ricambi. I understand his prices can be lower than dealer with much better service. But not that much lower. Ferrari parts are exponentially more scarce than BMW parts. And priced accordingly.



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post #13 of 31 Old 06-16-2010, 01:36 PM
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While I agree that you can get a great car from a con man and a bad car from a reputable dealer I have to say the chances of that are not in your favor :-) Really what I mean by a reputable source is someone who's more likely then not to stand behind the car if there is an issue and still be around in 6 months time.. Yes I realize thats a moving target in this wonderful economy but maybe now more then ever is the time to find the "diamonds in the rough" to buy from. Personally I only buy from authorized Ferrari dealers, that's not a guarantee, but its a better bet then "Joes internet sales" who changes name and location seemingly at will! I'd rather pay the extra $ for some peace of mind. (Maybe I'm kidding myself but so far so good in 10 years and 6 Ferrari's)

My 2 cents!

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post #14 of 31 Old 06-16-2010, 02:48 PM
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i guess my point is there is no need to pay extra for someone to possibly stand behind the car because you don't need to stand behind a good car. Determine if it is a good car before you buy it and it matters not who you get it from. Clearly, buying from a reputable dealer will increase your chances of not having a problem. but you will pay for it. No reason. just narrow it down to the best car at the best price then have it checked out. simple. I emphasize this philosophy because the OP has indicated that price is a top consideration. Now if i was talking to a rich guy that wanted to trade his time for money, then by all means go into a dealer and point at the car you like. You will have a high chance of success.



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post #15 of 31 Old 06-16-2010, 06:14 PM Thread Starter
 
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Thanks again for the replies. One last question - the Testarossa has been one of my all time favorite Ferraris and their price has come down significantly - they're about 60K or less. Have you heard of any issues on this model and will I need a '2nd mortgage' for repairs?

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post #16 of 31 Old 06-16-2010, 07:05 PM
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very expensive to maintain and repair. that's probably why the price has remained depressed. also a very different driving car that the v8's. again, i would recommend driving one before you make a decision. very nice car. i'm planning on getting one soon myself.



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post #17 of 31 Old 06-17-2010, 03:55 PM
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The Testarossa had a few "known" issues. They can be good cars, and a great deal of fun to drive though. Be sure to have an experienced mechanic look the car and records over before purchasing. He should be able to tell you how well the car has been serviced and if there are indications of on going problems.

Fortunately most of the issues in these cars have been acknowledged and we've found ways to improve them and prevent the issues from recurring.
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post #18 of 31 Old 06-17-2010, 05:51 PM
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Welcome to Flife 4refan,

You have some great advice above! But research and read as much as you can and then read it again. Be patient and don't get emotional, trust me it's easy to do.

As far as part's go some are "affordable" but yet small things like wheel bolt's cost $50.00 a pc! And that's half price. lol

Just keep a small nest egg aside for whatever you buy. You will need it.
You should go talk to your neighbourhood Fcar mechanic for starters on some basic maintenance cost's

Good Luck on your search

Cheer's
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post #19 of 31 Old 06-17-2010, 07:32 PM Thread Starter
 
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Again thank you all for the advice.

FBI - I agree. Leave emotion out of the equation. Thankfully I do believe I am reasonably grounded not to let my emotion get the best of me.

ECSofVirginia - Can you elaborate of the known issues of a Testarossa? I do think I am leaning towards purchasing this model.

wetpet - How much more expensive are the Testarossas to maintain and repair over other models of similar purchase price? As for driving all these models I mentioned above (348,355,328,Testarossa) I wish it would be that easy. These cars aren't Hondas - they are hard to locate and usually are located in other cities or right across the country.
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post #20 of 31 Old 06-20-2010, 12:15 AM
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Quote:
Originally Posted by 4ReFan View Post
Again thank you all for the advice.

FBI - I agree. Leave emotion out of the equation. Thankfully I do believe I am reasonably grounded not to let my emotion get the best of me.

ECSofVirginia - Can you elaborate of the known issues of a Testarossa? I do think I am leaning towards purchasing this model.

wetpet - How much more expensive are the Testarossas to maintain and repair over other models of similar purchase price? As for driving all these models I mentioned above (348,355,328,Testarossa) I wish it would be that easy. These cars aren't Hondas - they are hard to locate and usually are located in other cities or right across the country.


The first thing we need to know is where are you located?

If we find that out maybe we can refer you to some local reputable places to shop for a car.

Another thing you need to do now is to find a good experienced Ferrari mechanic near you. You will need him sooner or later and if you find one now he can be a good advisor on picking a car. Also it isn't a bad idea to connect with local Ferrari owners. They can advise you of the local good guys both for sales and service.


I have worked on these things for a long time. We have a TR and a 328. I was factory trained on both as well as many other models. A 328 is extremely owner friendly. A TR can be but if anything does go wrong it can cost you the farm. Also quite frankly for most purposes the 328 is a more fun car to drive.

I can go on and will but do not really want to write a novel in one sitting.

Tell us where you are, what your budget is and we can advise you better.
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