Looking at a 355GTS - quick question

[ketel]

Gang,

I'm in the hunt for a gated 355GTS and found a possible candidate. It's early, so I'm not getting too excited yet. Devil in the details and all....

Specs: 1997 MY, Nero/Tan 34k miles.

First question: It had the 30k service done at 22k miles eight years ago. Is the vehicle due for another 30k service? If not now, when? If a 30k service is not needed, what kind of service would it need now or in the near future?

thanks.

ketel

[wazie7262]

YES. It's going to need a full Major. You'll need a PPI done to check the condition of the headers and cats, and then it'll need a compression check and likely a leakdown to check the valvle guides. Expect that this car will need a minimum of 10K on top of the purchase price, and a lot more than that if the above-mentioned items have not been addressed or there is an issue.

[ketel]

Originally Posted by wazie7262

YES. It's going to need a full Major. You'll need a PPI done to check the condition of the headers and cats, and then it'll need a compression check and likely a leakdown to check the valvle guides. Expect that this car will need a minimum of 10K on top of the purchase price, and a lot more than that if the above-mentioned items have not been addressed or there is an issue.

So I understand correctly, what are the time and mileage intervals for 355 service?

If 12k miles in 8 years warrants a FULL major I want to know whether this vehicle would need to go straight to the mechanic after I buy it or whether I can drive it home from 500 miles away (where it sits right now) and take it in over the next few weeks once I've decided on a local shop.

[F355steve]

Originally Posted by ketel

So I understand correctly, what are the time and mileage intervals for 355 service?

If 12k miles in 8 years warrants a FULL major I want to know whether this vehicle would need to go straight to the mechanic after I buy it or whether I can drive it home from 500 miles away (where it sits right now) and take it in over the next few weeks once I've decided on a local shop.

I would advise that you not drive the car once under your ownership until the car has had the major. The timing belt is not the weak point in the system, it is the tensioner bearings. They OEM Ferrari bearings are junk. After 8 years the potential for them to fail has increased greatly. When the major is done make sure you use the Hills Engineering bearing instead of the OEM.

Get a PPI for sure. If you don't you could do the major and have a $8k bill turn into a $25k bill real quick if it needs valve guides, headers, cats, ect.

[AceMaster]

Originally Posted by ketel

So I understand correctly, what are the time and mileage intervals for 355 service?

Ferrari mandate is 3 years or 30,000 miles, whichever comes first (I would bet that in ALL cases it's the years that comes first), however it is very common that owners actually wait 5-years to do the major....the one you are looking at is at 8-years, so do the math and decide for yourself whether or not you are at risk.

[J. Salmon]

I don't think ANYBODY would argue with the fact that the car is past due for a comprehensive major service. I would be stunned if it came out less than 10k.

But if you can factor that stuff into the negotiation, you may do well. If it were me I would be expecting to do:
Compression and leakdown.... then if OK:
Full major with Hill bearings, clutch with Hill throwout, pull injectors and clean or replace, gold connector kit, headers.

And a Capristo.

[ketel]

Originally Posted by J. Salmon

I don't think ANYBODY would argue with the fact that the car is past due for a comprehensive major service. I would be stunned if it came out less than 10k.

But if you can factor that stuff into the negotiation, you may do well. If it were me I would be expecting to do:
Compression and leakdown.... then if OK:
Full major with Hill bearings, clutch with Hill throwout, pull injectors and clean or replace, gold connector kit, headers.

And a Capristo.

All good advice, gents. Thanks.

So....the guy's at $49k. Given everything I'm hearing, at that price I'm going to be in the car $60-65k in a heartbeat. Not where I want to be given the color is "ok" to me and there is another big issue here:

The vehicle has no docs. Dealer got it at an auction without papers. Not necessarily a deal killer, but doesn't exactly exude confidence for me. He says he's trying "forensic research" to retrieve the service history bit by bit and says he's been able to reconstitue some documentation, but nothing like a full history will ever reasonably be recreated.

My gut tells me I need to be in the car in the $30ks to make sense. Thoughts?

ketel

[Extreme]

Originally Posted by ketel

All good advice, gents. Thanks.

So....the guy's at $49k. Given everything I'm hearing, at that price I'm going to be in the car $60-65k in a heartbeat. Not where I want to be given the color is "ok" to me and there is another big issue here:

The vehicle has no docs. Dealer got it at an auction without papers. Not necessarily a deal killer, but doesn't exactly exude confidence for me. He says he's trying "forensic research" to retrieve the service history bit by bit and says he's been able to reconstitue some documentation, but nothing like a full history will ever reasonably be recreated.

My gut tells me I need to be in the car in the $30ks to make sense. Thoughts?

ketel

Even if you find a car with all the service history it doesn't guarantee a thing, most likely only gives the buyer a sense of false confidence. I'm probably not with the majority here but I don't really see the need for all the past service records. The only way I can see the service history being of any use is if it says the major engine service was just completed within the last few years under 30,000 miles ago. Otherwise I would plan on doing the major service when buying the car. All the other mechanical tidbits can be investigated and determine what their current status is.
I am of course a bit biased as I bought my 355 with very little documented history and she has been fantastic. Of course I performed the major engine service first thing after buying the car.

[F355steve]

Sounds like $40k would make sense for the car givin the information you have supplied. I'm sure you know that finding a GTS 6speed is tough though. Asking prices are all over the place but spiders and F1 cars are much more plentiful.

[jevs]

Originally Posted by ketel

Gang,

I'm in the hunt for a gated 355GTS and found a possible candidate. It's early, so I'm not getting too excited yet. Devil in the details and all....

Specs: 1997 MY, Nero/Tan 34k miles.

First question: It had the 30k service done at 22k miles eight years ago. Is the vehicle due for another 30k service? If not now, when? If a 30k service is not needed, what kind of service would it need now or in the near future?

thanks.

ketel

Needs a major. Also, same miles as my car and valve guides were shot. I would be on the lookout for an upper end rebuild needed. Only way to really know is leakdown test by someone competent.

[ketel]

Originally Posted by F355steve

...I'm sure you know that finding a GTS 6speed is tough though. Asking prices are all over the place but spiders and F1 cars are much more plentiful.

Yes, I am aware. I don't want to spend 2 years looking for the "perfect gated GTS." I plan to drive and enjoy this car, not just show it at concours events and rub it with a diaper.

Then again, I want a good car and, if it needs service and repairs, I want to go in with my eyes open.

I think $40k is the end of the world for this 355. If I fix everything I've found thus far -- I haven't even driven it yet, so Lord know what will come up on the test drive -- I'm looking at $15k. Which means this GTS is really $55k.....And it still would have no service records and I still have no insurance that other things won't surface that the vehicle will need once it's in service. The "well the engine's out so might as well do this also" factor is pretty big wth 355s.

ketel

[SpiceV8]

Don't forget a new set of boots mate , change mine every three years regardless of miles

[F355steve]

Originally Posted by ketel

Yes, I am aware. I don't want to spend 2 years looking for the "perfect gated GTS." I plan to drive and enjoy this car, not just show it at concours events and rub it with a diaper.

Then again, I want a good car and, if it needs service and repairs, I want to go in with my eyes open.

I think $40k is the end of the world for this 355. If I fix everything I've found thus far -- I haven't even driven it yet, so Lord know what will come up on the test drive -- I'm looking at $15k. Which means this GTS is really $55k.....And it still would have no service records and I still have no insurance that other things won't surface that the vehicle will need once it's in service. The "well the engine's out so might as well do this also" factor is pretty big wth 355s.

ketel

It's a tough call. I think you would be hard pressed to get this one down to a price that would make sense. Look for one that has had the major in the past 3 years and the major included a lot of "while you are in there stuff" line items. This will help reduce the chances of the first major being twice what you expect.

Getting in all together at $55k for a GTS 6speed you want is proabably going to be as good as you will find. As you mentioned the danger with this one is it could skyrocket past $55k right away. Also, make sure you get a color you want. That is very important in your enjoyment of the vehicle.

[junglistluder]

You're not getting a gated 355GTS for 40k. Sorry brah.

[355dreamer]

Originally Posted by junglistluder

You're not getting a gated 355GTS for 40k. Sorry brah.

Or a serviced and sorted one for 55k.

[BLAMPEE]

Originally Posted by junglistluder

You're not getting a gated 355GTS for 40k. Sorry brah.

Originally Posted by 355dreamer

Or a serviced and sorted one for 55k.

I would never buy a $40k 355.

Ask TreeDee about that....or just read his thread....he's in it over $70k now....


ImageUploadedByTapatalk1342126403.431434.jpg

[AceMaster]

Originally Posted by BLAMPEE

I would never buy a $40k 355.

Ask TreeDee about that....or just read his thread....he's in it over $70k now....


Attachment 1552250

Brock, would you happen to have the link to that thread?

[BLAMPEE]

Originally Posted by AceMaster

Brock, would you happen to have the link to that thread?

My 355 mini-Restoration story

[wazie7262]

Originally Posted by ketel

All good advice, gents. Thanks.

So....the guy's at $49k. Given everything I'm hearing, at that price I'm going to be in the car $60-65k in a heartbeat. Not where I want to be given the color is "ok" to me and there is another big issue here:

The vehicle has no docs. Dealer got it at an auction without papers. Not necessarily a deal killer, but doesn't exactly exude confidence for me. He says he's trying "forensic research" to retrieve the service history bit by bit and says he's been able to reconstitue some documentation, but nothing like a full history will ever reasonably be recreated.

My gut tells me I need to be in the car in the $30ks to make sense. Thoughts?

ketel

Run! Run fast!

[BLAMPEE]

It seems that in the last six months we have had a number of newbies purchase 355s only to have problems surface very short after; or, their "fix-it budget" is immediately spent...and then they go way beyond their initial planned amount.

It's sad, really. And it sucks for them. It sucks because I know what it's like after dropping over $20k to make my "good deal" 355 perfect.