Sub 50k 355?! - Ferrari Life
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post #1 of 27 Old 01-12-2012, 11:39 AM Thread Starter
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Sub 50k 355?!

I have been putting a significant amount of time into the search for a Ferrari in the sub $50,000 price bracket, and was absolutely shocked to discover that one can purchase a late 90s 355 for this price. I was under the impression that the current price for a 355 in decent condition (not to fixated on having immaculate body work or a museum/showroom quality interior) was more in the 60k-75k price range. Is it even worth considering a 355 for under 50 thousand? or will is it almost destined to have some sort of undesirable secrets just waiting to introduce themselves at a later date?

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post #2 of 27 Old 01-12-2012, 12:59 PM
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Derek- Too many variables for a reasonable answer. On a private sale deal you might find an outstanding F355 for that kind of money. Through a dealer...

Your $60-75 range will actually get you a good 550 or an off-color or higher mileage 575M. Prices have come down significantly.

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post #3 of 27 Old 01-12-2012, 01:21 PM
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Your sub 50k 355 will quickly cost you over 70k. Sorted "B"s and GTS's well for high 60s and a few private sales have exceeded 70k. Spiders are signifiganly less.

The 50k 355 likely needs a major - 6k
Headers - 8k for tubi, the rest are junk
Guides - 2-3k more
Sticky stuff - 1k
Etc.

Buy the best 355 you can afford. They are worth it.
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post #4 of 27 Old 01-12-2012, 01:25 PM Thread Starter
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Interesting. I would definitely need to drive a 550/575 to compare. I think i could get over this interior color...
Ferrari : 550 Ferrari : 550 | eBay

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post #5 of 27 Old 01-12-2012, 02:01 PM
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Derek- The Maranellos feel completely different from the F355, but still feel excellent. 400+ ft lbs of torque is not significantly less than a 7 liter Corvette. Grand Tourer with excellent handling and no engine-out service.

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post #6 of 27 Old 01-12-2012, 02:28 PM
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Quote:
Originally Posted by 355dreamer View Post
Your sub 50k 355 will quickly cost you over 70k. Sorted "B"s and GTS's well for high 60s and a few private sales have exceeded 70k. Spiders are signifiganly less.

The 50k 355 likely needs a major - 6k
Headers - 8k for tubi, the rest are junk
Guides - 2-3k more
Sticky stuff - 1k
Etc.

Buy the best 355 you can afford. They are worth it.
+1. Bingo.

I got a bargain on my 95 GTS and it was in fine shape (1 year from needing engine out). I then proceeded to do "the works" to it when we had the engine out and spent $17k on it (google search "F355 university" if you're curious).

People can poo-poo on what I'm about to say but I would not let it leave my garage for less than $70k - it's just that good.
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post #7 of 27 Old 01-12-2012, 03:52 PM
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355

a dealer in san diego had a 98 355 GTS for 59000,!! it was flawless..found it on hemmings motor news,
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post #8 of 27 Old 01-12-2012, 04:24 PM
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Quote:
Originally Posted by Sandy Eggo View Post
+1. Bingo.

I got a bargain on my 95 GTS and it was in fine shape (1 year from needing engine out). I then proceeded to do "the works" to it when we had the engine out and spent $17k on it (google search "F355 university" if you're curious).

People can poo-poo on what I'm about to say but I would not let it leave my garage for less than $70k - it's just that good.
And you shouldn't feel the need to let it go for less. Good 355s are rarer than hens teeth, and the good ones don't show up on eBay for 52k. The good cars trade between collectors, and collectors are looking for good 355 coupes. In the last 6 weeks, I have had 3 people contact me about purchasing my car. It's not for sale currently. My car is good, but it will be better once it goes to competizione this winter for a makeover.

355s have and will continue to pass 360s in value. 550s are an unbeliveable bargan. I can't believe how cheap they have gotten.
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post #9 of 27 Old 01-12-2012, 07:41 PM Thread Starter
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The price gap between a 355 and a 550/575 is definitely much smaller than I was expecting it to be. I made the mistake of assuming it was $120k+ for a decent example. And I see why you would not let a prime 355 go for __<70k. The one that I test drove was a white coupe with the F1 trans, and for what I could tell by looking at it and driving it that it was in very good condition. The owner said he would consider an offer somewhere north of 65k, but I was not in a financial position to make an offer (and i would rather have a traditional manual trans anyways).

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post #10 of 27 Old 01-13-2012, 12:58 PM
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The stick would be better IMO on the 355

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post #11 of 27 Old 01-13-2012, 01:12 PM
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Quote:
Originally Posted by dfm View Post
Interesting. I would definitely need to drive a 550/575 to compare. I think i could get over this interior color...
Ferrari : 550 Ferrari : 550 | eBay
Actually the interior is somewhat appealing and unusual,which goes to show that one man's meat is another's poison.
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post #12 of 27 Old 01-13-2012, 01:25 PM
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Leatherwork is relatively cheap if a nice Ferrari's interior does not suit you.

Taz
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Present: 575M 135171
Past: Dino 246 GT 02984, 365 GTB/4 14009, 308 GTS 25125

Every day I look around, and if nobody is shooting at me, it is a pretty good day.
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post #13 of 27 Old 01-13-2012, 01:36 PM Thread Starter
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I actually do like that interior, I just figured it would be considered a less desirable off-color.

Granucci- What makes you think the stick would be better on a 355 than a 550?

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post #14 of 27 Old 01-13-2012, 11:23 PM
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Quote:
Originally Posted by dfm View Post
The price gap between a 355 and a 550/575 is definitely much smaller than I was expecting it to be. I made the mistake of assuming it was $120k+ for a decent example. And I see why you would not let a prime 355 go for __<70k. The one that I test drove was a white coupe with the F1 trans, and for what I could tell by looking at it and driving it that it was in very good condition. The owner said he would consider an offer somewhere north of 65k, but I was not in a financial position to make an offer (and i would rather have a traditional manual trans anyways).

Having owned both a F355 and a 550, they are completely different cars and you would need to drive both to decide preference.

In terms of running costs, the F355 was definitely more expensive just based on the engine out cambelt service.
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post #15 of 27 Old 01-17-2012, 02:38 PM Thread Starter
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Considering making the trip to Costa Mesa from Oceanside to take this out for a test drive. It looks pristine in the pictures and appears to be both regularly driven as well as properly maintained. Can any of the experts see any faults/flaws?

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post #16 of 27 Old 01-17-2012, 02:55 PM
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Derek- Have been watching this one and it is a late 04 with nearly all of the desirable updates done by the factory on the 575M. Look below to see what I mean. It has, however, virtually no options that I can see. Sort of like my car, except mine did have the Fiorano Handling Package. It appears to be a good, but very basic, 575M.
Attached Files
File Type: doc 575M 575 SA Updates Rev 1.7.doc (44.0 KB, 159 views)

Taz
Terry Phillips

Present: 575M 135171
Past: Dino 246 GT 02984, 365 GTB/4 14009, 308 GTS 25125

Every day I look around, and if nobody is shooting at me, it is a pretty good day.
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post #17 of 27 Old 01-17-2012, 05:18 PM Thread Starter
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Thank you for that information Taz. As this will be my first F car, I doubt that I would miss any options that weren't installed from the factory. If you wouldnt mind, could you point me to a list of factory/dealer options that were available? I want to make sure that I dont regret finding one without a particular option.

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post #18 of 27 Old 01-17-2012, 05:29 PM
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Derek- All the options are listed in the 575M Technical Thread sticky in the modern V12 section. Plus quite a bit of other useful infromation.

Taz
Terry Phillips

Present: 575M 135171
Past: Dino 246 GT 02984, 365 GTB/4 14009, 308 GTS 25125

Every day I look around, and if nobody is shooting at me, it is a pretty good day.
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post #19 of 27 Old 01-17-2012, 05:57 PM Thread Starter
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Much appreciated

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post #20 of 27 Old 01-18-2012, 07:56 AM
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I'll post up a different opinion than some on the 355 issue. I purchased a very well cared for 355 spider about 3 years ago with a major service just completed for $49K. It is Blue Swatters, so not as easy to sell. BUt the car has been flawless for three years. It had 16K miles when purchased and I am up to 25K now. I am expecting to spend $6-10K on the major in two more years and have budgeted accordingly. I spent almost 18 months looking for a blue 355 (my preferred color) in good mechanical shape. It is possible to do the Ferrari for $50 thing if you are patient and willing to put in the research.
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