13th Apr 2008, 03:25
You cannot run a Ferrari on a budget. They need what they need, and the second you skimp is the second they start to go downhill.
The cambelt service is "engine out" and needs doing every 3ys or 18k on a 348. They should also have the valve clearances checked and adjusted at this service. That little lot here in the UK will cost you around UKP 2000 (USD 4000) at a good independent specialist, or anything up to UKP3000 (USD 6000) at an official agent.
Of course the routine stuff can be budgeted for, but the fun with Ferraris is when they throw something unexpected at you. What you know about costing jobs for "ordinary" cars can be torn up and thrown away. UKP 800 (USD 1600) for a clutch for example which lasted just 21k on my 348. UKP650 (USD1300) for front discs and pads. UKP 350 (USD700) for an engine mount. Stuff like that.
Don't buy a Ferrari unless you can throw anything it needs at it. Without wishing to be unkind, if you have to ask...
The total maintenance, service and repair bill for my 348 for three years and 9,000 miles came to just over UKP 5000 (USD 10,000)
Or over one US dollar every mile... That's excluding fuel and tyres. They are not cheap cars to run, never were and never will be.
13th Apr 2008, 10:23
It sounds like you may be trying to keep up with the Jones' a little bit too much at a critical time in your life. Doing that, especially early in your professional career is a sure-fire way to keep you in the poor house and/or living from paycheck-to-paycheck for life.
Buy your toys when you can afford them easily - for cash on the barrel, when it does not even put a dent in your savings. To be car poor, house poor, etc. is the formula for financial insecurity and stress that will always have you on the edge and unhappy.
Work hard, save and live simply in the beginning. Invest your money into things that will make you more money; don't spend it on liabilities like a flashy car. If your rate of earnings does not grow exponentially every year (e.g. if all you are working for is to drive around in flashy cars thinking people are impressed), you are not playing your cards right.
The toys come later, when you can enjoy them stress free. Just keep your eye on the prize and it will happen. Believe me.
13th Apr 2008, 17:14
10:23 After losing money on stocks, even flipping properties is hard anymore... I like picking up great buys meaning vehicles and boats and they are technically for sale again from the moment I pick them up. If your ego is less important than finding someone strapped that needs to sell an impractical sports car with cash in hand it's a good time to buy. I buy well maintained vehicles with records no projects.
5th Jun 2010, 08:44
Reading all the above comments, and as an owner of both a 348 and an Impreza STI Ra, I can make the following true statements.
I have owned my 348 for 4 years, and on the road yes it can be at times hard work, and my RA would eat it on bumpy B roads. I have thought many times about selling it (what car could come close to a Ferrari for what I could sell it for; £21000 maybe). My RA is worth maybe £3000, and on the Shropshire B roads where I live it would beat most cars including M3's (tried and tested).
I have done a track day in the 348, and without a doubt it was unbelievable, and the RA would have got nowhere near.
Moral to story is all cars behave in different ways, so buy the car for the purpose that you want.
26th Oct 2010, 12:49
Hi, I'm looking at buying a Ferrari 348 or 355, but not sure which would be better. I know the 355 is a better car overall, but I just can't take my eyes off the 348. I am a speed freak; are there modifications you can put on a 348?
31st Oct 2010, 16:55
I bought a 1991 348ts last year. I traveled all over the country and looked at numerous cars (there is some rubbish out there!!).
The car I bought had just had a major service, including belts, so hopefully no major costs for 12/24 months.
Unfortunately I haven't really used the car much - less than 1,000 miles in 12 months!! But it always brings a grin to the face every time I do get to use it.
Just had an annual service (cost around £500). A couple of minor things were noted, which will be sorted out over the next few months.
I was a committed Porsche man, but would really recommend the 348. It's great fun, and certainly turns heads.
I was thinking of trading up to a 355 next year, but having read the various problems posted, I think that I'll stay with the 348 (a friend of mine bought a 355 earlier this year and has spent around £10k so far - manifolds, suspension etc!!).
I don't think that I would want to use the 348 as an every day car - they do attract a lot of attention, so you can't leave them in public car parks - unless you don't mind being the centre of attention of course!!
My advice - go for it - but take your time, and look around before you commit!