I am interested in purchasing a Ferrari 308. Its a 1984 with 83,000 miles. My question, lets just say it was properly maintained, is 83000 miles to high for it to be a wise purchase. I know that garage queens can be huge problems and that properly maintained ferraris can be trustworthy vehicles even with high mileage. But if I own it for 5 years and say add another 10,000 miles will this car be finished? I own a 2001 Chevy 3/4 ton with 220,000 miles, its still a trustworthy vehicle and to replace it would cost $30,000 but frankly its worthless due to its high mileage. Whats the limit to a Ferrari holding its value? Thanks for any input! Jason
Any future owner will have the same concerns you do right now. Priced correctly you'll get a good car and when you sell it you'll have to price it the same way.
what's the price and what's the condition? Newman on here is restoring a 308GTB currently, considering that type of ground up rebuild, I wonder what car will get more money in the end, a 30.000 mile ok 308 or a 100.000 mile better than factory 308. When it comes to 25 year old cars it's all about condition, any 25 year old car needs work, the question is how much work does it require and how much are you willing to do yourself. As long as the car is rust free or at least almost and has a straight body, with no body panels needing to be replaced and a engine which can be rebuilt to perfect condition I would say you are in business. Every sale requires finding the right buyer. If you have a 100.000 mile 308 that's in perfect condition than I think you will find somebody eventually, who will pay possibly up to $30.000- I have found in previous sales experience that not every buyer will imediately shy away from high miles on a older car; I would certainly rather have a rustfree 100.000 mile car than a rusted 30.000 mile one. But I think you probably knew this already Helmut
It's all about condition....the miles would not scare me, but a car with that many miles, invariably will be pretty rough looking, inside and out. Leather cracking, faded...carpets worn and faded...paint stone pecked. All can be fixed, but can get very expensive (we talking a Ferrari...). The bottom ends are pretty tough, but that top end could very well need a "refreshing" or rebuild by now. Only a compression and leakdown test would tell you for sure. In addition, both because of age and miles, shocks and suspension bushings would be very suspect now. How does the car look and drive presently? If the car has been well maintained, and things repaired and replaced over the years, it may look and drive fine.
Uh oh. I've got 91,000 miles on my '88 Mondial. Does that mean in 2,000 miles it's "finished" ? I don't think so. If your main concern is resale value then get a low mileage car. But please don't buy a high mileage car and count miles every time you drive it as you will definitely not enjoy the experience. As for high milegae trucks...last year I sold my '94 Suburban to a dealer with 250,000 miles on it for $8,000.00. He knew how I took care of it. Whatever you decide----enjoy it. Life is too short. Tom
Actually the condition as far as looks is perfect. The leather is nice, exterior only minor road chips etc. The price is $26,500.00 I really trust the owner (he is a fchater) The only problems are the radio and AC dont work.
He is "AN" FChatter. PS- Check service records for Fuel Pump, check oil leaks/oil burn rate. Solid car if maintained properly, if not RUN.
QV motors and trannys are known to last way past 100K miles. However, many were abused/neglected at some point so a complete compression and leakdown test would be a must. If the suspension has not been renewed, you should figure it is overdue. There are no grease fittings for suspension parts, so they do wear out. As with any 20 year old vehicle, all the lines, hoses, etc should be considered suspect. However, once it hits 100K most people will consider it a parts car worth say 10-15K. If it checks out and has had a fresh service, maybe 20-22K would be a good deal. Then you could just drive the hell out of it and sell it to Rutlands at the end. Otherwise, I would spend 30K or more and get one with far fewer miles. Dave
I have a '78 GTS with 99,900 miles on the OD. I think I'll have a party when it hits 100K. Original motor and trans. I purchased the car from the original owner with 70k miles and it needed some work to get it in shape(looking good). It runs great and now looks great. I drive the car all the time. I LOVE it! I purchased the car because I LOVE it! Not for an investment, couldn't care less what the resale value will be, I bought it to DRIVE it! I may never sell it. I say buy a high milage car drive it, and there is no gulit in the potential resale value, just hundreds of "bug in the teeth" grins ahead. Oh, and while all the other Ferrari investors are looking at their car and checking the market for resale, you and I will be the only Ferrari's on the road. Buy it and start driving.
Mileage is a four letter word for some Ferrari owners, even though their car may actually have double whats on the odometer what it says is most important. Bill at Enzo Motors in S cali has a 328 with over 200k miles and the engine had never been majorly tore down. If you get it for a good price say less than the cost of a engine rebuild to a comparable car with lower miles then its worth it.
Mileage smilage......Just find one that you like and drive it. The comment about 100,000 mile cars only good for parts cracked me up. If the car is well taken car of, mileage shouldn't matter. My 308 had 64,000 last January when I bought it and now has 74,000 in less than a year. The car is just too much fun to drive. Unless you want to treat it like the car in Ferris Bueler. "He never drives it, he just rubs it with a diaper" We might start a "Who has the highest mileage 308 thread.
Take a discount for the bad A/C....that will not be cheap to fix. Unless you are a very good "do it yourselfer".
~$450 to put in a new Sanden Rotary, new dryer, and clean and charge the system (all DIY except the vacuum and charge) and if the old threads would come you cold read about it. http://www.ferrarichat.com/discus/messages/256120/222.html I found it http://www.ferrarichat.com/forum/showthread.php?t=32326&highlight=sanden
If the AC hoses that run to & from the front of the car require replacement that is a time consuming job. At that age it would not be surprising to find them leaking.
