hi mick, blessing for the mick the 2nd. modial is a great ferrari. and quite rarely for ferrari it is sensible and practical. your question, does that red light has any sign or letters or figure in it? by this I mean what does that
light supposed to indicate? or is it just a red light? provide us with some more info then we can help you closer. one more thing, I know 348s in early of its production such as 89-91 have some problems but I don't know if it necessarily means the same for the mondials. my another suggestion is do not just ask your dealer, ask for the permission and take the car to 2nd and 3rd mechanic or shop yourself and compare their comments. I heard it cost about 100 dollars to check the car at most shops.