Join Date: Jun 2002
Location: USA & Singapore
Ferrari Life Posts: 5,509
I looked for about 6 months and I found my car through Hemmings Motor News. The car that was for me ended up being in Pennsylvania. About 10 hours each way for me. But it was worth it.
Your posts sound a lot like me, making decent cash but not dripping with dollars, mechanically inclined, well equipped shop. I think you would be very happy with a 308, I know I am. I've had my car for 2 1/2 years know and I have about $1,000 in maintenance. Half of that was swapping over the ignition from points to electronic (which I did myself), I spent $300 to have the tires balanced, a front end alignment, and carb synchronization (by a professional) and $200 for oil changes and misc. parts.
My insurance is through American Collectors and it is $200 per year for full coverage. I think one of the restrictions is that no one under 25 can drive the car so you would not be able get the same coverage I have until your next birthday.
So that is my experiences, it has been a wholly positive one. People can't believe my car is 25 years old, they think it is new and figure I paid $60k for it. I love the car, it is great to drive and fun just to own and look at.
For my thoughts and recommendations, I didn't finance my Ferrari, I saved up the coin and bought it for cash. From what information you have given on your situation, I would recommend the same. If you own the car outright and a repair comes up it isn't as bad as having a repair come up and still having to make the car payment. If you have the cash now, great! If you don't, that's cool because it gives you time to look and if you turn 25 during that time it will be that much easier to get cheaper insurance.
I paid $23.5 for my car but when I brought it to Maine I had to pay $1,200 sales tax, that and registration it came to just about $25k so figure on at least that in the bank when you are ready to start test driving.
'79 308 GTS, '82 Jeep CJ7 Jamboree
"Time is what prevents everything from happening all at once."