Ferrari Mailing List: Re: 355 Advice

(continued)

Too much $$$
Didn't we have an email a while ago about a yellow 360M, no damage, but 
no garage queen either, that sold for 72K? Same email talked about a 
white 355 spider for $44K.
Dave.
LarryT wrote:

Here's a little 360 Fixer-Upper 
http://www.alltypeauto.com/index.php?category=&make=Ferrari&model=&srt=make+ASC&p=5&submit=Search
You may need to widen your email to get the link all on one line.  It's a 
360 with some damage - they still wat $77k for it -- 
There's a number of places like this with a variety of cars - some more 
damaged, some less.
Larry T (66 MGB, 74 911, 91 300D)
www.youroil.net for Oil Analysis and Weber Parts
Test Results http://members.rennlist.com/oil
PORSCHE POSTERS!  youroil.net
800-583-8601
Weber Carb Info http://members.rennlist.com/webercarbs

----- Original Message ----- 
From: "Charles Perry" <charles [at] carolina-sound.com>

To: "Larry Turner" <l02turner [at] comcast.net>

Cc: "The FerrariList" <ferrari [at] ferrarilist.com>

Sent: Tuesday, July 29, 2008 2:07 PM

Subject: [Ferrari] 355 Advice

Pierre -
I have a 98 F355 spider which I've owned since 2002. I love the car, but
have had all but one of the 355's famous issues and one that was my own
fault. Overall it is a great car, but like all Ferraris, some
development work was left to the owners. Knowing the issues will help
you see how much previous owners have done and how much you may have to
do.
1995 cars are slightly more powerful than newer units due to the change
in Bosch fuel injection systems that started in 1996. Some early cars
have had problems with valve guides wearing prematurely, which causes a
variety of problems. I don't think anyone has ever pinned down a year or
VIN range where this occurred, and there are some people with early cars
who have never had the problem and some people with later cars that had
it. We all strongly recommend a pre-purchase inspection (PPI), and it is
worth the extra money to pay for compression and leakdown tests to look
for this problem.
355s also have a habit of melting their exhaust manifolds. They are made
out of a cheap, thin steel and some have postulated that if the
catalytic converters get clogged, the additional heat burns the the
manifold. The manifolds can be replaced, rebuilt with better materials,
or upgraded to higher end versions like Tubi. I would recommend one of
the two later options if your car hasn't already had the issue fixed.
Fixing cost is $1500-$3000 depending on solution.
355s have the rubbery coating on many interior surfaces (door pulls,
switch trim, AC vent trim, steering console surround, emergency brake
surround, center console) which turns to a disgusting sticky goo over
time. No idea what triggers it - some have postulated sun exposure or
cleaning chemicals. Solutions are to replace the items ($$$), or to
chemically strip them down to plain plastic ($), or to upgrade them to
something like carbon fiber ($$$).
355s tend to have shrinkage in the dash leather over time, usually
starting with the airbag cover on the passenger side, and then the
instrument cluster. Leather wear on the driver's bolster is common, as
is road rash on the door intakes and behind the wheels where the body
work sticks out. This is cosmetic, so you may not care but it can be a
negotiating point if your car has the issue.
You mentioned a berlinetta, so I won't bore you with the convertible top
issues on a spider.
Routine maintenance isn't bad except for the 30k/5 year service where
the engine is pulled to do the timing belts. This is crucial and it is
urgent that you respect the time limit - not just the mileage limit like
all salesman will tell you is fine. I did drag my service out to 6
years, and I did break a timing belt, and I paid a painful engine
rebuild price as a result. My fault, but don't skimp on scheduled
maintenance as it only gets more expensive if you wait. This service
will run you anywhere from $3500 with a good independent mechanic and
minimal replacement to $8-10k from a dealer with "while we're in there"
stuff.
Transmission is a personal choice. This was the debut of the F1 paddle
shift. Some love it, some don't. It is an early system, so certainly
slower and more clunky than current systems with potentially high repair
bills for things like the F1 hydraulic pump or actuators. I bought the
6-speed because I like the involvement and because I believe it will be
easier/cheaper to service over the long run, but try both if you can.
As Clyde says, prices are low on these. I see most Berlinetta's offered
in the $60k-$70k range and depending on the dealer or owner, it is not
unusual to get 10-30% off asking prices depending on how crazy the
offerer priced it to begin with. As a general rule, aftermarket
equipment devalues a Ferrari, so if your car has a big stereo or phat
chromed rims or some such thing, negotiate against that, even if you
like them.
My insurance in the states is about $800/year under a collector car
policy with generous useage limits.
I don't want to scare you off as these are really fun cars (any
Ferrari), but they are very much NOT Lexus/Toyota as far as build
quality and reliability, so the more you go in eyes open, the more
enjoyable your Ferrari experience will be. There are huge assets here
and at www.ferrarichat.com if you want to investigate further, or I
would be happy to talk to you further.
Most important shopping tip is what Clyde already told you - buy with
your head, not with your heart. It's easy to get carried away with a
gleaming Ferrari in front of you, but if the car doesn't have
maintenance records and obvious signs of previous care (original books,
tools, etc), then wait. There is always another car, especially with
modern Ferraris.
Good luck!
-- charles
-- 98 F355 Spider
-- 87 Testarossa
-- 99 Diablo

-----Original Message-----
From: bouaze pierre [mailto:pbouaze [at] hotmail.com]
Sent: Tuesday, July 29, 2008 10:12 AM
To: Charles Perry
Cc: The FerrariList
Subject: Re: [Ferrari] Ferrari Digest, Vol 24, Issue 38

hello all,
I am looking to buy a ferrari 355 berlinetta, pref a 98 or 99 in the
next year. Can anyone help with general info (insurance, service
schedule, etc)  for a first time ferrari buyer??? just want to do some
research before i lose my virginity. Any info is appreciated
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Re: 355 Advice	<– Date –> <– Thread –>
From: David Thursby (davidthethursbys.net)
Date: Tue, 29 Jul 2008 13:36:11 -0700 (PDT)