Ferrari Life Forum banner

1 - 20 of 32 Posts

·
Registered
Joined
·
1 Posts
Discussion Starter #1
Hi everyone!

I am currently looking into buying a 81' to 84' 308, but haven't done a lot research on the car quite yet, just love the way it looks...totally infatuated! Could someone please tell me, just what am I getting into? :confused:

TIA!
 

·
Registered
Joined
·
3,874 Posts
Welcome to Ferrarilife! And good luck with the 308 search :D

Chris
 

·
Premium Member
Joined
·
5,509 Posts
Could someone please tell me, just what am I getting into? :confused:
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.

Do your research, look at the buyers guide, when you find a car you are interested in have a pre-purchase inspection done by an independent mechanic. 308 values are pretty steady so as long as you get a good car and maintain it you will never lose any money on it.
 

·
Registered
Joined
·
50 Posts
Hey Pete,

How do I find a mechanic to do a PPI? The local Ferrari dealers want the car brought to them.

I am still looking for a nice 308, but it's not been easy! I looked at a few recently, and without a mechanic, they all look pretty good! Yesterday I looked at an e-bay 308, and it was pretty rough, even for $17,000. Right off the bat, I could tell that it needed a clutch, and none of the switches worked, execpt for the winshield wiper. You could see that it was left outside and wasn't well cared for. Maybe it would have cleaned up OK, but who knows what is going on with the engine. No service records either.

What do you think??
 

·
Premium Member
Joined
·
5,509 Posts
That's a tough call Frank. The best way to find a mechanic is to do a lot of networking and find a guy you are comfortable with. I do most of my work myself but for the stuff I can't do the guy I use is a BMW guy who has experience with all European cars. There is no Ferrari dealer in Maine. When I went up to talk with him there were 4 Ferraris in his shop. When I went to drop off my car there were 4 different Ferraris in his shop.

As for the pricing, I don't know right now. I've always felt my car is worth a solid $28k but the market tells me it is worth more. You routinely see 308 GTSi's, a less desirable car, going for well over $30k. I've seen 328's go for over $60k. My car does have issues but it is a solid driver's car. So as a '79 Carb GTS it should be worth more than an '80 GTSi. But we have a global recession right now so what your car is worth and what you can sell it for are 2 different things. Alex on here just bought a beautiful 348 spider for $32k. So the market is tough, people are selling the luxuries. I'd hang on and keep looking if I were you, I think the right deal will come along.

As for the $17k 308, from what you've told me I'm guessing this car will need at least $4-5k just in parts, double or triple that with professional labor to install them. The clutch is a couple grand, it needs a full major, each of those little switches that don't work are $100. If you can do all the work yourself and are willing to take on a project then this $17k 308 may be a good deal, if you want a car you can drive now then keep looking.
 

·
Registered
Joined
·
50 Posts
Pete,

Thanks for the advice, and I agree with you 100%...I am going to pass on it, even though it's tempting at $17,000.

I really want a carb 308, so I will keep looking and hope the right one comes along.

I was thinking about the economy as well, and hopefully the prices will come down a bit. Hey, want to sell yours...I'm sure not!

What are the issues with your car...what bothers you about it?

Just picking your brain.
 

·
Premium Member
Joined
·
5,509 Posts
No problem Frank,
I've got some little issues, there are a couple of rust bubbles here and there, a few chips and scrapes in the paint. Nothing major, no one notices them but me. But I know they are not going to get better by themself. Everyone that has seen the car thinks it looks brand new, I think it needs a repaint.

The tachometer doesn't work, I believe it is the tachometer itself and I will have to remove it and send it to Palo Alto Speedo for repair. The oil pressure sending unit is bad, I put in an aftermarket one and it lasted about a day. And the gas gauge is tempermental. When I fill it it reads full but it will show empty when I still have 15 gallons in the tanks. I use the odometer to determine when I need gas. I also have to fix the freakin' windows again. The 308 windows suck. On the passenger side I have to wiggle the window back and forth while I'm holding the switch to get it to go down. Oh, and the radio and the A/C don't work. I don't really care about those.

So all and all, the only problems with my car are little shit that I can take care of myself, I just have to decide when I am going to do it.
 

·
Registered
Joined
·
50 Posts
Oh I forgot...the windows didn't work on this one either. It also had a re-paint with some bubbles as well.

What do you figure that your car, with it's little problems is worth?
 

·
Premium Member
Joined
·
5,509 Posts
What do you figure that your car, with it's little problems is worth?
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.

So as you can see the value of the car largely depends on the postion of the seller and how bad the buyer wants it. I hope this helps.
 

·
Registered
Joined
·
79 Posts
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!
 

·
Registered
Joined
·
79 Posts
What? This is a great topic. Doesn't anyone love the 308? 24 hours and not a single additional comment? Only 12 posts in two weeks? Where's the support for the 308?
 

·
Premium Member
Joined
·
298 Posts
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!
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.
 

·
Registered
Joined
·
57 Posts
Welcome to the site! All I have to say is you are in good hands these guys have decades of experience!

Good luck!
Alex
 

·
Registered
Joined
·
465 Posts
Excellent 308 might be for sale

To the gentlemen looking for a good 308,

Just today I was told by a friend that he intends to sell his GTSi.

It is a black 1980 GTSi with around 30k miles. It has a nearly complete service history and has been well cared for for many years. It is a top-notch car throughout, both cosmetically and mechanically. I say this as someone experienced in servicing and restoring cars, very knowledgeable in 308s, and as a 308 owner (and I inspected it on a lift and drove it myself quite a bit).

He wants $35,000 for it, which is on the higher side for a GTSi, but the car is worth every penny and then some. If you are interested in it, I can give you full details. PM me.

Thanks,

Tony :)
 

·
Registered
Joined
·
83 Posts
Agony

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?

Kon
 

·
Administrator
Joined
·
15,140 Posts
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?

Kon
Have you considered looking in the UK. There are plenty of RHD 308s available in the GBP 20-30k range.
 

·
Registered
Joined
·
3,928 Posts
Good late, 30K - 50K mile QV 308's are £25K + at independent dealers in the UK, but they seem to be sticking around at the moment due to the concerns about the economy. I think you could get them to knock 10% off the price if you tried to haggle.

I've spoken to several dealers about QV 308's, who all claim that their cars are mint, FSH, with very good provenance..etc. They all say that there is a lot of rubbish around in the 308 market, years of neglect and servicing on the cheap, questionable mileages too?

Ebay is roughly 10% cheaper, but obviously you need to be far more wary about what you are buying.

Personally, I would buy from a dealer with a good reputation rather than privately. But that's only because I don't have the knowledge to fix problems myself.
 

·
Registered
Joined
·
83 Posts
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?

Cheers

Kon
 

·
Registered
Joined
·
3,928 Posts
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?

Cheers

Kon
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.

My reasoning is that the majority of entry level F-car buyers are not wealthy people, just hard working white collar or skilled manual workers earning slightly above average salaries. We are the ones who are being hit hardest by rising mortgage rates, lack of affordable credit, increased taxation, rising food, fuel and energy prices:( Therefore, no one has as much disposable income, no one wants to take out a large finance commitment and luxury items such as F-cars are off the shopping list for most people.

This might also explain why they are cheaper in the US, as they were hit before we were in the UK. I think that Europe will weather the storm better as they are less reliant on mortgages and credit on the mainland. I don't know how your economy is fairing in Oz, but I would guess it is similar to the UK?, so you might see a price fall in the next year.

I'm pleased I sold my 328 when I did, I have a feeling that I will be able to buy a replacement for less than I sold mine for. I watch the dealers sites every day and nothing is moving.
 
1 - 20 of 32 Posts
Top