Ferrari Mailing List: Re: 355 Advice

(continued)

Hmmmm - is the title SALVAGE ?
DOUG
----- Original Message ----- 
From: "David Thursby" <david [at] thethursbys.net>

To: "DOUG" <dnt [at] dock.net>

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

Sent: Tuesday, July 29, 2008 5:48 PM

Subject: Re: [Ferrari] 355 Advice
jetfixr on Ferrarichat bought a flood car and now has a PERFECT 355
spider for about the same price as a neglected one. He's maybe 10 grand
ahead, but that does not factor in his 100's of hours of time. He did
get what he wanted though - a perfect car that he knows for a fact is
perfect. He's had the car stripped down to a bare chassis. He also did
everything properly - no shortcuts.
Clyde - you'd like him - he used to have a MiG 21 as a toy.
Dave
cdatte [at] spawar.navy.mil wrote:

I see 355's on the net for 44ish-50ish then a gap then 70ish and up
of course you can't really tell what it is.
I've looked into damaged ones before and most of the time you loose.
Yep they're always priced too high and they like to charge lots of
$'s for the parts.
It would be interesting to talk to people that have bought these
projects to see where they came out in the end.
At 01:35 PM 7/29/2008, David Thursby wrote:
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: Doug and Terri Anderson (dntdock.net)
Date: Tue, 29 Jul 2008 21:26:17 -0700 (PDT)