A lot I don’t really agree with on this statement. Yes these are expensive cars and there is a premium to play in this sandbox. This era of car was still very analog and mechanical. Proper due diligence and making a selective purchase, is the best money spent on these. Fortunately I am able to work on these, as well as knowing when my mechanical limits need assistance. Actually or mentally budgeting $100/month will keep the bank to write the larger checks for the deeper periodic repairs. So far, my opinion is these can be really expensive cars to break, but are fairly reasonable to maintain when you plan for it.A V12 Ferrari with a third pedal is probably always a safe place to park money. The wild card is when, not if, you get a $25k maintenance bill. I have about a 3x the NW OP does and I am a 90s kid who has always dreamed of buying a 355 at some point. I dont think I have the NW to yet afford a $150k 1990s Ferrari and the associated carrying costs of the car. But I applaud the OP. You only live once and checking Ferrari ownership off the bucket list is certainly a goal of mine.
The car I purchased cost less than a fully loaded new truck, and much cheaper than a new boat. As far as NW relative to the purchase, I didn’t really think of it as a YOLO purchase. All else being equal, I finally had the space more so than the ability to acquire this car. I wish I had pulled the trigger years prior, when they were really fully depreciated. All else being equal, my financial picture at the time didn’t *not* make sense to justify the purchase. And believe me, I was patient and calculating for both the purchase and potential pitfalls. Plus, I had the money to purchase outright at the time. The purpose of loan was to go into Ferrari ownership with a cushion of cash incase any of the lore expenses became reality.
The 355 has some known issues with exhaust studs and header cracks, as well as interior cosmetic issues that plagued nearly all Italian cars of the time. By this age, many have already dealt with the shortcomings, or you negotiate into purchase price. It is an engine out service for belt service, but again nature of the beast going into it.
I have a feeling a 355 is probably one of those "never meet your heroes" scenarios as a first Ferrari, seems more like a 4th or 5th Ferrari experience given all of the quirky dumb issues you'll probably run into, along with the difficulty of obtaining some parts. 430 is probably a better place to start, much more reliable and much less costly to maintain. The 355 has always been known as one of the most expensive cars to maintain, I have seen engine out service bills in the $20-40k range before even though $8-10k is more common. Only once every few years but you don't want to be the one stuck holding the bag on a car that wasn't properly maintained.[quote=jfmiii post_id=7960736 time=<a href="tel:1721309039">1721309039</a> user_id=53333]
A V12 Ferrari with a third pedal is probably always a safe place to park money. The wild card is when, not if, you get a $25k maintenance bill. I have about a 3x the NW OP does and I am a 90s kid who has always dreamed of buying a 355 at some point. I dont think I have the NW to yet afford a $150k 1990s Ferrari and the associated carrying costs of the car. But I applaud the OP. You only live once and checking Ferrari ownership off the bucket list is certainly a goal of mine.
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Statistics: Posted by aerosurfer — Fri Jul 19, 2024 6:26 am — Replies 34 — Views 6970
