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I'm new to Ferrari's and am hoping someone hare can give some advice.

Theres a local guy that has a 1983 Ferrari 308 GTSi. He's the original owner. The car has 6800 miles on it. I's burgundy exterior, black interior. Car runs fine and the interior is mint, however there is lot of rust on it.

What is a car like this worth?

Any problem areas to look out for?

Any help would be much appreciated.

Bill
 

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Pass

Certain things sound good. However, RUST is bad. If I were you, I would pass on this one. I do not know where you reside, but rust is a serious drawback. Even if the asking price is a bargain and enticing,
I do not think you would get a good deal in the long run. Jimmy
 

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Re: Pass

The car is $18k. I've noticed similar cars without the rust issues sell for the mid 30's. Also I know the owner. He bought the car new in 83. He didn't abuse the car, he just didn't store it right.

Don't know if I should buy or let it go at this point. I have other cars and wasn't really in the market for a 308, but I always liked them and at this price it would be extremely easy to get into one.

What do you guys think.

Bill
 

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Bill,

In my opinion, and take it for what it's worth, you get what you pay for. A 308 for 18K is on the very inexpensive side. Generally, 25K is the low end of the price range for these cars. I would say if the car has rust because it wasn't stored properly, it probably has other issues as well. The rust may only be the tip of the iceberg.

Who knows, it may be a diamond in the rough, but the best way to find out is to get a trained Ferrari mechanic to do a PPI.

Again, just my 2 cents. Let us know what happens.
 

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Do a search for 308 prices... you'll see where my thoughts lie.

I'll stick to what I'd said before

308GTSi/GTBi $25,000-15,000
 

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I would definitely pass on this one. It sounds like rust could be the tip of the iceberg. The mileage also looks unconvincingly low. If it is accurate then the car has been sitting for long periods of time which can also led to all sorts of other more difficult to spot problems.
 

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I guess I see it differently. Is it just a small spot where the paint bubbled and therefore some rust? Or is the chassis underneath rusted.

If it is just a few minor rust spots it might be a good buy. 6,800 miles for that car is VERY low and most 308s will have 30k + by now. You have to weight the good with the bad.

I would get it if the rust is very small, then with the extra money you save, have the entire car repainted by a professional.
 

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momo said:
I guess I see it differently. Is it just a small spot where the paint bubbled and therefore some rust? Or is the chassis underneath rusted.

If it is just a few minor rust spots it might be a good buy. 6,800 miles for that car is VERY low and most 308s will have 30k + by now. You have to weight the good with the bad.

I would get it if the rust is very small, then with the extra money you save, have the entire car repainted by a professional.
Just painting a Ferrari is ultra expensive. You're looking at about 7K to do the job right. ( http://www.ferraris-online.com/Articles/SCM_0006.html ) He'd have to save a lot more on the buy in price to justify that.

I'd get this car looked at with a fine tooth comb and magnifying glass.

more on painting:
http://www.redlinerennsport.homestead.com/Ferrari.html
 
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