Looking to buy first Ferrari-some help needed - Ferrari Life
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post #1 of 23 Old 01-05-2014, 05:09 PM Thread Starter
 
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Looking to buy first Ferrari-some help needed

Been looking at Ferrari's for years and own 10+ Classic cars at any given time and have decided that it is time to buy that Ferrari I have always wanted. I'm looking for a 355 GTB or GTS even tho I know they have some issues to watch out for and that some other models maybe more reliable/less costly to maintain, but I love the 355 look and style, so I'll take the maintenance issues. So now my questions:
1- Anyone have experience with Bentley Gold Coast in Chicago-good or bad??
2- Recommendation for PPI on 355 in Chicago as Bentley has a 99 GTS I really like
3- Service recommendations for Ferrari in Michigan-I'm in southwest MI, but willing to travel for a top notch service company-years ago I had a number for a guy in Detroit area, i think Jim might have been his first name??
4- Best choices of year in this model-I was thinking a 98 or 99 would be best due to newer and having more factory updates/improvements, but looking for your input, also prefer F1, but have heard of issues-maybe more potential than common? Or are F1's just a bad idea and should look for manual only? I'm 6'4" with left hip replacement so sometimes clutches get tiring during city/stop and go driving
Any help would be greatly appreciated
Thanks,
Mike
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post #2 of 23 Old 01-05-2014, 05:29 PM
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welcome to the forum. although I can't help you, I'm sure help will arrive soon. In the meantime I suggest becoming an elite member to have access to the buyer's guides and I would also peruse the 355 section. I am sure some of these questions have been answered there.



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post #3 of 23 Old 01-05-2014, 07:07 PM
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Quote:
Originally Posted by vet652000 View Post
Been looking at Ferrari's for years and own 10+ Classic cars at any given time and have decided that it is time to buy that Ferrari I have always wanted. I'm looking for a 355 GTB or GTS even tho I know they have some issues to watch out for and that some other models maybe more reliable/less costly to maintain, but I love the 355 look and style, so I'll take the maintenance issues. So now my questions:
1- Anyone have experience with Bentley Gold Coast in Chicago-good or bad??
2- Recommendation for PPI on 355 in Chicago as Bentley has a 99 GTS I really like
3- Service recommendations for Ferrari in Michigan-I'm in southwest MI, but willing to travel for a top notch service company-years ago I had a number for a guy in Detroit area, i think Jim might have been his first name??
4- Best choices of year in this model-I was thinking a 98 or 99 would be best due to newer and having more factory updates/improvements, but looking for your input, also prefer F1, but have heard of issues-maybe more potential than common? Or are F1's just a bad idea and should look for manual only? I'm 6'4" with left hip replacement so sometimes clutches get tiring during city/stop and go driving
Any help would be greatly appreciated
Thanks,
Mike
1. Yes and beware!
2. Lake Forest and Continental
3. Ferrari dealer in Michigan Cauley is excellent. Was in your town for the hockey game New Years Day
4. F1 or manual great car either way.

Post the ones you are looking at and Welcome!
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post #4 of 23 Old 01-05-2014, 11:54 PM Thread Starter
 
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post #5 of 23 Old 01-06-2014, 06:25 AM
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Looks nice!

Books Tool kit paint underneath convertible top and cover - check it all ... twice!

Find out where it came from and it's service history.

I have been told some dealers aren't doing PPI's and may need some incentive.

Cauley would be the best - if you are going to use them work out a deal to have it shipped there and pre negotiate depending on the results of the PPI with the seller.

If you move forward - strongly suggest using a credit card if possible.

Good Luck!
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post #6 of 23 Old 01-06-2014, 12:51 PM
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Welcome!

The clutch on the 355 is not light. Go for a test ride in both two-pedal and three-pedal.

Good luck!

Salve,
Capo

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post #7 of 23 Old 01-06-2014, 05:07 PM
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I like how the 355F1 drives, they're quite nice when everything is setup properly. It is a more complex system than a manual transmission so it requires a bit more maintenance and will have more wear associated costs as well. Do your best to find a good car to begin with and your ownership experience will be much more positive. Many 355's on the market aren't top notch though. Most owners that have spent that kind of money are hanging on to the cars due to the low market prices. Most of the 355's out there need some love.


A local dealer here has a Black 99 F1 Spyder which I did some small repairs on. It seems to be a pretty good car, although I was not asked to keep digging into it either. If you're interested in information on the car, PM me and I will give you their contact info.



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post #8 of 23 Old 01-06-2014, 05:11 PM
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what he said. great looking car in yellow. oh, and buy a large jar of vaseline!



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post #9 of 23 Old 01-06-2014, 06:50 PM Thread Starter
 
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Thanks for the info

So is it safe to assume from comments that Bentley is not on the "awesome, honest" dealer list?
When you say some dealers are not doing PPI's, are you saying selling dealers of Ferrari dealers in general? I know there was a great Independent Ferrari mechanic on the east side of Michigan, does anyone have a name or contact info- I know he does PPI's, or at least did 4-5 years ago. Is it typical for selling dealers to share service docs prior to deposit? why the credit card suggestion-easier to get $$ back if PPI falls thru? I know that Ferrari's are not what you would call reliable, but If one has good service history and the known issues have already been dealt with then with proper maintenance it should be livable. As long as you know the reliability and potential for large repair bills and go in with one's eyes open, then it is just called the price of having the experience-better investment than a country club in my mind. Thanks for all the info and if anyone knows of a great 355 GTB or GTS let me know- I like yellow, but others would be considered
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post #10 of 23 Old 01-06-2014, 07:15 PM Thread Starter
 
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Quote:
Originally Posted by champagne612 View Post
Looks nice!

Books Tool kit paint underneath convertible top and cover - check it all ... twice!

Find out where it came from and it's service history.

I have been told some dealers aren't doing PPI's and may need some incentive.

Cauley would be the best - if you are going to use them work out a deal to have it shipped there and pre negotiate depending on the results of the PPI with the seller.

If you move forward - strongly suggest using a credit card if possible.

Good Luck!
Should the dealer allow a prospective buyer to ship the car to his mechanic for a PPI pre-purchase? Or would you basically execute a sales agreement dependent on the PPI with a "how many$$" deposit that would be refundable if PPI is unsatisfactory? So If I don't purchase I would be out shipping both ways and PPI costs, correct? So if I'm understanding this correctly, I should be able to review all service documents and if acceptable to me, negotiate a price and schedule PPI? Thanks for taking the time
to help a newbie!
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post #11 of 23 Old 01-06-2014, 07:59 PM Thread Starter
 
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Quote:
Originally Posted by ECSofVirginia View Post
I like how the 355F1 drives, they're quite nice when everything is setup properly. It is a more complex system than a manual transmission so it requires a bit more maintenance and will have more wear associated costs as well. Do your best to find a good car to begin with and your ownership experience will be much more positive. Many 355's on the market aren't top notch though. Most owners that have spent that kind fo money are hanging on to the cars due to the low market prices. Most of the 355's out there need some love.


A local dealer here has a Black 99 F1 Spyder which I did some small repairs on. It seems to be a pretty good car, although I was not asked to keep digging into it either. If you're interested in information on the car, PM me and I will give you their contact info.
Thanks, no Spyders- either a GTB or GTS-Michigan just doesn't have enough convertible weather and convertible never look good with top up IMHO. Thanks thio and let me know if you run across any coupes
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post #12 of 23 Old 01-07-2014, 04:55 PM Thread Starter
 
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Wow

Quote:
Originally Posted by wetpet View Post
what he said. great looking car in yellow. oh, and buy a large jar of vaseline!
So the great looking yellow 355 in Chicago has an asking price of $100,000 and he is firm-it is a consignment one owner-recent engine out service and no issues, but that is just ridiculous in my mind. So the hunt goes on!
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post #13 of 23 Old 01-07-2014, 06:01 PM
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This one.

So if I'm understanding this correctly, I should be able to review all service documents and if acceptable to me, negotiate a price and schedule PPI?

Depending on the PPI results - you should have options afforded to you.

It may be the best 355 out there - but it may not be and why it's at GC would be important to know.
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post #14 of 23 Old 01-07-2014, 07:10 PM
 
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welcome to Ferrari life. I was searchin high and low just about a year ago for my first Ferrari also. I would agree that the 100K for a 355 no matter how good of a condition it is in is overpriced. I would also agree that an honest and motivated seller should allow prospective buyer to get the car to a reputable PPI site at buyers expense. However, you could negotiate the transport costs into your offer before the ball gets rolling. i.e. IF I buy it, we split transport to PPI costs? Service records are a no brainer. you should revew these before deciding if you want to spend the moneyon a PPI. If there are failures and issues every month, i'd be running away as fast as I could. Its also a good way to learn about common problems and how they were resolved by looking at service records. you will learn this if you stick to one model. ie f355. I'm sure many others on here have more tips for you but this was just my experience. Good luck. BTW I have spoken to one of the young sales guys at Cauley's about a 6 sp red 360 last Feb and would have to say that they are good people.
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post #15 of 23 Old 01-08-2014, 04:32 AM Thread Starter
 
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welcome to Ferrari life. I was searchin high and low just about a year ago for my first Ferrari also. I would agree that the 100K for a 355 no matter how good of a condition it is in is overpriced. I would also agree that an honest and motivated seller should allow prospective buyer to get the car to a reputable PPI site at buyers expense. However, you could negotiate the transport costs into your offer before the ball gets rolling. i.e. IF I buy it, we split transport to PPI costs? Service records are a no brainer. you should revew these before deciding if you want to spend the moneyon a PPI. If there are failures and issues every month, i'd be running away as fast as I could. Its also a good way to learn about common problems and how they were resolved by looking at service records. you will learn this if you stick to one model. ie f355. I'm sure many others on here have more tips for you but this was just my experience. Good luck. BTW I have spoken to one of the young sales guys at Cauley's about a 6 sp red 360 last Feb and would have to say that they are good people.
thanks for the info/thoughts-I would have thought that the High 70's would be about the top price for a pristine 355 with very recent service and 0 issues and low mileage, anymore than that is just throwing $$ away. I'm not in a huge hurry-still winter in Michigan, but I think it is likely a good time of year price wise, altho there maybe more selection come spring.

Does anyone know if there is more headroom in a GTB than a GTS?
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post #16 of 23 Old 01-11-2014, 03:15 PM Thread Starter
 
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Thanks to everyone for all your advice, thoughts and information. I found a very nice 1995 F355 GTB yellow and manual with carbon fiber seat option and with great service history and recent belt service and all the 355 issues mechanically have been addressed-new guides/valves/seals, headers hi-flo cats/ Tubi exhaust/clutch it does have a couple sticky parts, but I'm pretty handy, so I can deal with that. Can't wait for it to arrive!
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post #17 of 23 Old 01-11-2014, 04:41 PM
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Thanks to everyone for all your advice, thoughts and information. I found a very nice 1995 F355 GTB yellow and manual with carbon fiber seat option and with great service history and recent belt service and all the 355 issues mechanically have been addressed-new guides/valves/seals, headers hi-flo cats/ Tubi exhaust/clutch it does have a couple sticky parts, but I'm pretty handy, so I can deal with that. Can't wait for it to arrive!
Awesome. You got the best year available. Hope your ownership experience is a great one.

Where did you find it? Any pictures? Sounds a lot like a former members car. Any idea where it resided last?

Also, if you would like to sell those seats, I will give you my black stock seats plus a wheel barrow full of cash. PM me if you're interested.
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post #18 of 23 Old 01-12-2014, 06:17 PM Thread Starter
 
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Awesome. You got the best year available. Hope your ownership experience is a great one.

Where did you find it? Any pictures? Sounds a lot like a former members car. Any idea where it resided last?

Also, if you would like to sell those seats, I will give you my black stock seats plus a wheel barrow full of cash. PM me if you're interested.
I can't wait to get it, waiting is just the worst and I have 2 weeks to go Car came from Seattle- Have not sat in the seats yet, but former owner says they are awesome- other than being a bit rare, is there any other big plus for the carbon fiber sport seats?
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post #19 of 23 Old 01-12-2014, 06:31 PM
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Congrats! This is an awesome looking car. I've allways love the yellow 355. 2 weeks to wait, that is nothing. I have to wait until May for my TR to be home.

Have fun and enjoy the car to the max ;-)
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post #20 of 23 Old 01-12-2014, 06:58 PM Thread Starter
 
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Congrats! This is an awesome looking car. I've allways love the yellow 355. 2 weeks to wait, that is nothing. I have to wait until May for my TR to be home.

Have fun and enjoy the car to the max ;-)
Wow May-that would be like forever! I can't wait to hear the wail of the engine and enjoy that first drive-I'm soooooo excited!
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