Well you are getting into possibly the best starter Ferrari. One of the least expensive one to buy and least expensive one to maintain and one that is arguably the most fun to drive. Registration and insurance is cheap. I have collector car insurance on my '79 and it costs only $218/year for full coverage on "agreed value". It is the most instantly recognizable Ferrari so whenever you stop somewhere you are sure to have people come up to you and ask you about the car.Could someone please tell me, just what am I getting into?
Another excellent question. I figure my car is worth an honest-to-God $28k. Having said that, I don't need to sell my car so it would take more than that to get it away from me. Given the market figures I've been seeing, if I just wanted to get rid of my car to trade up to a 550 or something, I think I could safely ask $35k and let them chew me down to $32k. If I were in a bind and needed to get rid of the car to make ends meet I would probably let it go for $25k. That's doing no work, that's as-is for a ready-to-go driver's car. Properly working windows, a radio and A/C adds value to the car, that's extra.What do you figure that your car, with it's little problems is worth?
Torbin is absolutly right, any seller who gives you a hard time about getting a PPI done is not worth dealing with. Run, don't walk, away. Of the 308s, either an early fiberglass GTB or a late QV GTS tend to be the most preferred versions.Frank, I'll weigh in here with Pete on your exciting dilemma. I bought a 1982 308 GTSi in 2001. It was my first Ferrari. I loved it. I was afraid of it, mechanically. Drove it a lot. Spent a lot on maintenance at an authorized dealer (in Detroit). Sold if for a fair bit more than I paid, so I was very pleased.
Then, in San Francisco in 2003 I bought a 1983 QV for Club Sportiva and had a much better experience, for a couple reasons. One, I new what I was doing (kinda like sex). Two, I waited longer and found the right car. Three, the QVs are better than the 2-valves. I sold that 308 QV last year after about four years. Loved that car! Both were red over tan. I will buy a 1984 or 1985 again when I am ready for my next 308.
First, I'd say take the effort to actually drive one or two, maybe a carb'd car if you are looking for one and compare it to a QV. They are slow cars by today's standards. Sure they are beautiful, but a new economy car will keep up - be sure that doesn't bother you.
Don't, under any circumstance, buy a cheap 308 just because "the price is right," unless you are a mechanically minded and a patient person who can afford to buy and then wait for parts. It is worth buying a solid car and then maintain it. My first 308 was beautiful and it even passed a PPI at shop I didn't know. I suspect I should have waited b/c I think my car had a previous owner or two that didn't investment in maintenance. The PPI is a big deal and worth the hassle. If the seller resists, be more suspicious.
Let me know what else I can do to help. Buying a Ferrari is one of the coolest things you can do in life but you want to make sure it is the right one!
Have you considered looking in the UK. There are plenty of RHD 308s available in the GBP 20-30k range.This thread is killing me.
I'm in Australia and looking for my first Ferrari, a 308GTB.
Over here the cheapest, crummiest 308 goes for about $40k USD and they can reach as high as $100k USD asking price. We are a RHD market but LHD cars can be registered on limited conditions.
Anyone want to send over some cars for a quick financial gain?
My personal belief is that prices for entry model F-cars will fall another 15% in the next 12 -18 months. Whilst it is tempting to jump in now, I am sitting on the fence ready to pounce when I think we've bottomed out.Hi Archer & Boxer,
There has definitely been a drop in asking prices since December also increased numbers on the market. This is the same for all toys, ie boats, jet skis, Trail bikes and so on.
I'd love to understand why UK and US prices are so different. ie UK 30k pounds for the same car that you can get for $40k US. In Australia, that same car will make the equivalent of 70-80k US. Is it that there are far more to choose from in the US?