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Hello all. I have been a reader of this forum for quite some time, and seeing how I am condsidering my first Ferrari purchase, I guess its time to start posting! I'd like to get some opinions on the following car:

1981 Mondial 8, black/tan, 44,000 miles.

The Good: Runs and drives great. Starts right up, no smoke. All electricals work. Tires 75%. Steering nice and tight. No leaks. Good oil pressure. Interior is 8 on a scale of 10. Seats a little faded and worn, no tears or obvious damage. Carpet is good, a little matted on driver's floor mat. Dash and rest of interior in great shape.

The Bad: Needs complete major service done. Hasn't been serviced in 7-8 years, so I will want to replace water pump bearings, cam oil seals, plug wires, etc in addition to the belts. Has credit-card size rust bubble on bottom of driver's door, so will need repair. Hood is scratched, will likely need repainting. AC does not work (compressor is out of the car, don't know if it works or not.) No radio (just rev it higher instead, right?)

Currently negotiated price to $15,500. Do you think this is a fair price? Try to negotiate lower? Snap it up today? Thanks for the help guys, love the forum!!
 

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Hi,

I am DEFINATELY NOT an expert on the subject, but judging on the price level on Mondials here it seems that the price is set according the state it is in. Here Mondials start at around 21-22K Euro which is bottom price. Most of the time these cars have been maintained quit nicely (at least if you believe the main part of the ads and if you believe dealers do their share ;-)) So in short, figure out what the price of the changes/repairs will is and subtract this from 22K and then you might find the fair price of the car. Again, I am no expert and have not been in the market for one so I might be way out of reality, but this is the way I think about it and is based on prices as I think are market prices at the moment.


Niels
 

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repairing rust, complete major engine work and repainting sounds like lots of $$s. Call a Ferrari-dealer to see what things like that would cost, so you have an idea what you can expect. Then you will know for yourself or that is the money you want to spend on the car, or that you want to look further for a car with less trouble. Personally I'd rather have a car that has been maintained nicely. If it is not maintained it is either not driven, or neglected. Both not good IMO
 

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Although it is not a bad car I would say keep saving and buy yourself a nicer Ferrari during the summer or fall months. Buying a car that needs that kind of service is expensive if done at a dealership and time consuming if you do it yourself.

Would it be a project car for you at first? If you have the tools, the brains, the experience, and the garage to do the service yourself I would tell you to get the price lowered as far as you can and then snap it up. I myself have done this before (not on a Ferrari though) and it is extremely rewarding to see the finished product. You'll be proud of yourself and you will feel a strong bond with the car. And if anything goes wrong later on you'll probably know exactly what it is as soon as the problem starts.

I also want to say that it is usually much cheaper to buy a restored Ferrari than to restore a Ferrari after you buy it. The same is true for any car. Not just Ferrari's.

-Dave
 

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If you are really interested in the car, suggest you get a Pre-Purchase Inspection done by reputabel Ferrari mechanic. My guess is that after not being serviced for 7+years and the other comments, getting this Mondial back in condition could easily be a $10,000+ adventure.
 

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Yeah, seems alot like a project car. I would probalby keep looking, this one seems to have alot more in store for you to find.

Charles, great articles, thanks for sharing!
 

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Look, it is a 24 year old car. Of course it will need some work. The Mondail has a great engine and some think not high of it. The Mondail is a nice start in the Ferrari thing. Kids can sit in the back seat. Oh, what I would give if I had a back seat.

For the price of a nice used car you are getting a Ferrari. What more can you expect? Take it and pour some money into it. It will pay you back in many ways.

Ok, you spend $10,000 getting it in sharp. What do you have? You are driving a good condition V-8 Ferrari for $25,000. Smile! Get another $25,000 car which gives as much pleasure as that Mondail.

8)

Ferrari, the only way to drive.
 

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Don't rush it.

Mondial 8s generally take a long time to sell so you should be able to take your time. Look at what else is on the market, esp any Mondial QVs. They perform better, are only marginally more expensive but still take a while to sell.

Unless you want a project car I'd look for the absolute minimum number of things to fix. A lot of the cars will have been well loved & generally they don't go for much more money than those needing work. Putting it another way, it is a lot cheaper if the owners have done the work rather than you having to get it done yourself. You will come across the right car soon enough. Good luck.
 
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