355 values - I just don't get it | Page 13 | FerrariChat

355 values - I just don't get it

Discussion in '348/355' started by Dave rocks, Dec 1, 2017.

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  1. ttforcefed

    ttforcefed F1 World Champ
    Rossa Subscribed

    Aug 22, 2002
    18,755
    I cldnt agree more. Getting these cars to showroom quality is expensive. Keeping them running sound is a fraction of the cost.
     
    Robb likes this.
  2. johnk...

    johnk... F1 World Champ
    Owner

    Jun 11, 2004
    10,625
    CT
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    John Kreskovsky
    Could not agree more. But I also have to point out that a guy who buys a 355 and puts $10k into it ever 5 years for a major is still way better off than a guy who buys a new Vette, SS Camaro, top of the line Mustang, M3 or what ever and looses $10k by driving it off the lot, and continues to head down hill form there.
     
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  3. SethP

    SethP Karting

    Jul 2, 2014
    83
    Corning, NY
    Full Name:
    Seth Parks
    This is so true. What $75k car doesn’t lose more than $10k in 5 years!? This is exactly why maintenance costs didn’t concern me with the 355. At this point I think the appreciation will outweigh the maintenance costs on average. But you never know. I enjoy it too much to care all that much.
     
    FourthAlfa likes this.
  4. WATSON

    WATSON Two Time F1 World Champ
    Owner Rossa Subscribed

    Sep 9, 2010
    21,607
    WI
    Bingo. My friends with fancy newer cars like a Corvette or Lotus Evora think they are "all that". But the financial effort of those cars are ridiculous.

    Depreciation of $700 - $800 a month is insane to me. Couple that with a payment, if they need one, makes it doubly worse. Can you imagine $700 a month in depreciation plus a $700 a month car payment with interest? All on a car you put 2,500 miles on each year? My head explodes just thinking about it.

    All of this makes a $10,000 engine out every 5 years on your paid-for 355 look pretty damn good...to me anyway.

    But when they are all invested for the new car "look" they need to bash the 355 and the "expensive" maintenance to rationalize their poor financial decision. Got it ;) ...and good luck to them.
     
    carnutdallas, taz355 and INTMD8 like this.
  5. taz355

    taz355 F1 Veteran
    Owner Silver Subscribed

    Feb 18, 2008
    5,942
    Indio Ca/ Alberta
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    Grant
    You forgot that the 355 is a money pit and 10 k every 5 years is unaffordable to the Budget concious owner. Ha ha ha
     
  6. 97 Spider

    97 Spider Formula 3
    Rossa Subscribed

    Dec 15, 2012
    2,241
    Texas
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    Brian
    Exactly, in 2010 I ordered my wife a 2011 2SS Camaro. We sold it in 2017 and she had put 26k miles on it in that time. It was a $20k lose in depreciation. I bought my 355 and although I only kept it 4.5 years I sold it for within a thousand dollars of what I bought it for and probably could have got more if I wasn’t in a hurry to sell it to pay for my back surgery.
    Buy a newer Ferrari that isn’t yet at the bottom of its depreciation curve and you could lose money so fast it will make your head spin. Sell a 2017 model in 4 years and the lose will make a $20k major service look like pocket change.
     
  7. johnk...

    johnk... F1 World Champ
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    Jun 11, 2004
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    John Kreskovsky
    Come to think of it, I'm down 15k to 18k on the 07 Boxster I bought used in 012. Only bought it because I got tired of looking for a 355 spider in the color and condition I wanted. Bought the 355 6 months later and got it cheap. Probably ahead on that one.
     
  8. Nader

    Nader Formula Junior

    Feb 12, 2011
    990
    East of Seattle
    Like the expensive weak points of a 355 that contribute to its depreciation, the Boxster and 911, as I'm sure you know, have a potential engine timebomb that also keeps these cars' values down. As we all know, anything with a reputation for dubious reliability/longevity is subject to this. That's why you can buy old 12 cylinder BMW and Mercedes (and some Ferraris) for a relative bargain. A Toyota 4Runner, on the other hand, hardly depreciates at all.
     
  9. johnk...

    johnk... F1 World Champ
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    Jun 11, 2004
    10,625
    CT
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    John Kreskovsky
    You are referring to the IMS bearing problem. That was the subject of a class action with was settled against Porsche. It applied to the 996 and 986 engines as I recall. The 997 and 987 have an improved design. And there is a fix for the 9976 and 986. It's about $2500 installed. Less than headers on a 355. And, there are a lot of 986 and 996 that have gone 100k miles w/o a problem. You never know.
     
  10. bjwhite

    bjwhite F1 Rookie

    Mar 17, 2006
    4,673
    Seattle, WA
    Full Name:
    Brian White
    #310 bjwhite, Jan 6, 2018
    Last edited: Jan 6, 2018
    Same thing with the B6/B7 V8 Audi S4s. Eventually they will need timing chain guides done, assuming they don't fail catastrophically and don't damage the engine, this runs about $6000-7000. Due to the compact dimension of the A4 on which the S4 is based, in order to shove a 4.2 liter V8 into the engine bay, they put the timing chain and adjusters on the back side of the engine, requiring an engine out for any kind of service on the chains, guides, or adjusters. (Some people have replaced adjusters engine in but what a pita). What happens is the plastic timing guides crack and break over timing causing timing over advance errors, low power, odd running, and if they really go, catastrophic engine failure.

    This keeps the values of these otherwise wonderful cars down now that they are older. My yellow S4 Avant (wagon) with 6-speed manual is a true unicorn--and we bought it with 47k on it 7 years ago and have put 110k on it. It's been a wonderful car--it does everything well. Dry, rain, snow, mountains, cities, parking garages, hauling stuff, pushing hard, idling through traffic--It's really a Swiss Army knife.

    But you can pick them up cheap because everyone is afraid of that engine out timing guide job. Mine finally needs it now at 158k of pretty hard driving and not a lot of pampering. It was an all weather daily driver. I'll end up fixing it, because where else can you buy a smallish, manual transmission, AWD, 340hp V8 station wagon?

    Pick one up while they are cheap and you can still find them.
     
  11. bjwhite

    bjwhite F1 Rookie

    Mar 17, 2006
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    Brian White
  12. Enzojr

    Enzojr F1 World Champ

    Dec 12, 2013
    14,001
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    Tomy
    I have a really bad habit ;)
    Buy high......
    Toss $1000s at it......
    And sell low.
    After I sold my 328 (heavy sigh) in 2000, I bought a MB.
    Parts and labor were not cheap, lost my you know what.
    Sold it and bought a Jaguar.
    Jag parts and labor are not cheap either. Sold the Jag at a loss also.
    Brain finally said "You should have just kept the Ferrari"
    So depression and sellers remorse set in.......until 2013 when I got my 355 ;)
    I do the happy dance every time I go into the garage, just looking at it makes me smile ........
    Cranking the engine and warming it up before a drive is like therapy for me.
    Driving is just me, the car, the sounds and the back roads.
    Life is good today, it doesn't get any better than this.
     
    surfwolf, ssnowball, Qavion and 2 others like this.
  13. phrogs

    phrogs F1 Veteran
    Silver Subscribed

    Apr 13, 2004
    7,113
    Michigan

    Look at "sold" auctions, it will included completed ones but "sold" gives you the supposedly sold items not the say completed without bid(s) auctions and buy it nows that simply timed out.
     
  14. Lip viper

    Lip viper Karting
    Silver Subscribed

    Aug 1, 2013
    128
    Miami
    Full Name:
    Larryplatas
    The 6 speed Coupes seems to holding value really well. I looked on EBay, Car.com, etc. there are not many out there.

    I paid 68k for my one owner 95 manual coupe with 22k miles clean car fax back in August 2017. I did the major plus add tubi headers and straight pipes instead of 2 primary cats. A compression check was done and it came back solid. Hopefully the valve guide issue won't pop up in the future. I have a few stickies to take care of, but the rest of the interior is in great shape.

    I agree with others I had a 07 997 twin turbo manual bought in 14 sold it in 17 for 3k more.

    Got to love cars that don't depreciate.
     
  15. INTMD8

    INTMD8 F1 Veteran
    Owner

    Jun 10, 2007
    6,485
    Lake Villa IL
    Sure but if you look at completed listings it's still easy to see which met reserve or not. Guess what I was trying to say was reserve met or not they are all completed listings at that point.
     
  16. 355tragic

    355tragic Rookie

    Jul 30, 2015
    16
    Full Name:
    Vincenzo
    On a positive note, a nice locally delivered 355 manual Berlinetta with average mileage, recently sold here in Oz for circa $US270,000.

    On a not-so-positive note, the problematic gear linkages in 348s will always be their achilles heal.
     
  17. tres55

    tres55 F1 Rookie
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    Sep 18, 2012
    3,479
    Canada
    Considering selling the 355 to upgrade to a 458. Their prices at auction have come down quite a bit in the last year (almost 50k!) I'm assuming due to the 488 release.

    I don't think they'll come down a whole lot more...and since my 355 is an F1 I don't feel like I'm going to be missing out on much. I have a 550 Maranello for rowing gears.

    I have this aching feeling though that I'm going to regret it even though the 458 is technically a better car in every way (from a performance standpoint) but there's something about the 355...
     
  18. skierlawyer

    skierlawyer Formula Junior

    Sep 12, 2010
    383
    Golden, CO
    Full Name:
    Brian
    I have a F355 Spider (gated) and a 458 Italia coupe. I love them both, but if I could only have one it would be the F355.
     
  19. Dave rocks

    Dave rocks F1 World Champ
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    Nov 23, 2012
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    Dave Lelonek
    Interesting. This is why I want to add a 458 and not replace my 355 with one ;)
     
  20. eyeman1234

    eyeman1234 Formula 3
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    Dec 25, 2006
    1,881
    Boca Raton, FL
    Always interesting to hear people's comparisons
     
  21. Kruegmeister

    Kruegmeister Formula Junior
    Owner Rossa Subscribed

    Nov 24, 2016
    466
    Michigan
    Full Name:
    Kruegmeister
    Nowadays you're breaking all kinds of laws before you leave 1st Gear.
    My 430 is an F1 which I always drive in manual.
    But I enjoy driving my F355 Gated Spider more, not just the Gated Manual, the 355 I always call a GoKart, it is small, low to the ground, quick & nimble. Exhaust with my Tubi & Hyperflows is heavenly.
    Still love my 430, but if I could only keep one I would keep the 355 as well.
    People sweat the "Major" every 5-6 years, well $8K on my 430 Clutch + $4K TPMS & misc 1st year. $4K Wheel bearings & misc. Next Year I'll probably need brakes & Tie Rods. Ferrari Maintenance is expensive as I was expecting.
     
  22. spaghetti_jet

    spaghetti_jet Formula Junior

    Jan 5, 2005
    846
    Europa
    Full Name:
    Bob
    If I could convince my wife, I’d buy all the 355s I could find. One day they will do what the Dino did. I might not be around to see it, but my kids would certainly benefit.
     
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  23. Sancho22

    Sancho22 Karting

    Oct 24, 2018
    178
    Northern New Jersey
    Full Name:
    Laszlo Szanka
    Wife's can be convinced. My wife is teh living proof of it. 95 355 spyder with 44K miles. Red. Capristo. Happy dance in the garage. Both of us. Even betetr when we drive it.
     
  24. Mmckee

    Mmckee Formula 3
    BANNED Silver Subscribed

    Sep 30, 2016
    2,339
    Alta Loma, Ca
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    Mike
    Your wife is a keeper!

    And so is your 355.
     
  25. spaghetti_jet

    spaghetti_jet Formula Junior

    Jan 5, 2005
    846
    Europa
    Full Name:
    Bob
    Well, I can try and convince her, but she says one 355 is already enough.
     

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