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Guy I know just bought a Ferrari 348 Spider

JulesMaximus

JulesMaximus

No Lifer
It's a 1994 and he works for a Ferrari dealer as a mechanic so he has done most of the work on this particular car. The previous owner wanted to sell it so he decided to buy it.

It is red with tan leather interior. Car has about 12,000 miles on it and it is in excellent condition. Since he knows the car and can work on it himself I think this was a pretty good deal for him. He won't lose money on it and he if the market comes back he could see the car increase in value.

I was on my way to my friend's house on my bike so I didn't get in it or ride in it but I'm sure he'll take me for a spin in it soon.
 
Does not matter if the labor is free, still have to buy the parts. Not much aftermarekt for a Ferrari.

I use to have a Saab but sold it as I was spending to much on parts and my time to fix it.

Trust me. If he has to work on it every other weekend to keep it 100%, its fun factor will drop very fast.
 
Nice! The 348 is certainly not one of my favorite Ferraris, but let's face it - it's a two-seater Ferrari and hence an extremely desirable car. It's not really a practical purchase for most people due to the insane maintenance cost, but since he works at a dealer it makes perfect sense to me.

I remember one day in the early '90s, I was walking down lower Broadway in Manhattan and I heard a shrieking engine coming up from behind me. I turned around and saw a black guy driving a 348 at least 65 MPH down the street. I think I got a semi-chubby . . .
 
Originally posted by: Marlin1975
Does not matter if the labor is free, still have to buy the parts. Not much aftermarekt for a Ferrari.

I use to have a Saab but sold it as I was spending to much on parts and my time to fix it.

Trust me. If he has to work on it every other weekend to keep it 100%, its fun factor will drop very fast.
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Well, it's not a daily driver. He has a 330ci to handle those duties.

Honestly, I've toyed with the idea of picking up an older Ferrari from time to time.
 
I've heard stories about the older carb'ed Ferraris needing a tuneup literally every two months. I hope the EFI ones aren't like that.
 
Originally posted by: Demon-Xanth
I've heard stories about the older carb'ed Ferraris needing a tuneup literally every two months. I hope the EFI ones aren't like that.
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I believe all the 348's were fuel injected.
 
Originally posted by: Don Vito Corleone
I turned around and saw a black guy driving a 348 at least 65 MPH down the street. I think I got a semi-chubby . . .
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For the car or the guy? 😉
 
Originally posted by: Aikouka
Originally posted by: Don Vito Corleone
I turned around and saw a black guy driving a 348 at least 65 MPH down the street. I think I got a semi-chubby . . .
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For the car or the guy? 😉
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Yeah, I wonder!

How much did he pay for this? I just googled, looks nice.

 
Originally posted by: Skoorb
Originally posted by: Aikouka
Originally posted by: Don Vito Corleone
I turned around and saw a black guy driving a 348 at least 65 MPH down the street. I think I got a semi-chubby . . .
Click to expand...

For the car or the guy? 😉
Click to expand...
Yeah, I wonder!

How much did he pay for this? I just googled, looks nice.
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He didn't say and I didn't ask. I'm guessing he paid around $45k for it...maybe a little more because it is in such good condition (hardly a single blemish on the paint or interior, car has 12,000 original miles on it).
 
Originally posted by: thomsbrain
No labor charges and wholesale parts prices would make it a lot more affordable, even if it becomes a bit of a time drain.
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I'd love to own and work on a car like that. It is such a magnificent piece of machinery I think I'd love working on it as much as driving it.
 
Don't you have to completely overhaul Ferrari engines something like every 20-30K miles? That's what someone told me and I imagine it costs two arms and two legs.
 
Originally posted by: JulesMaximus
Originally posted by: thomsbrain
No labor charges and wholesale parts prices would make it a lot more affordable, even if it becomes a bit of a time drain.
Click to expand...

I'd love to own and work on a car like that. It is such a magnificent piece of machinery I think I'd love working on it as much as driving it.
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You'd better have a lot of time on your hands and it's a good thing you think you'll enjoy working on it as much as driving it because chances are you'll do more working than driving.
 
Costs of typical maintenance on a Ferrari 348

348: Insist on a Stack of Receipts

?Magnum, P.I.? made the Ferrari 308/328 instantly recognizable, but by 1989, the design was aging. Its replacment, the 348, boasts modern electronics, adequate a/c and world?class performance, but initially electronics were a nightmare, with defective ECUs, over?taxed alternators, and recalcitrant starters. Early cars had a weak transaxle, requiring three major gearbox updates.

The 348 flywheel has 30 parts, including springs and washers packed in grease to dampen the engine?s harmonic vibrations, a nightmare to disassemble. A clutch job can be expensive; a new flywheel costs $3,200, a double?disc clutch $1,800, and a throw?out bearing is $600, plus labor.

Early targa?tops had leaky front top seals that improved marginally through continual factory updates while all 1989?93 348s had rear suspension geometry that would go into snap oversteer, a problem cured in 1991.

While the engine is sound, the 348 is the only Ferrari with a single serpentine cam timing belt, further complicated by a weak (or overworked) water pump and a belt tensioner bearing. The long belt also makes degreeing the cams complicated. Major service is an engine?out operation, starting at $7,000.:shocked:

The 348 Spyder introduced in 1994 had more leg room, an improved 2.7 Motronic engine system, thicker castings on the rear wheels?giving two inches of rear track offset?and improved high speed stability. An after?market computer chip and Tubi exhaust will give 340 hp, offering cheap performance ?at least in the Ferrari world. When 348 shopping, run fast from any car which hints at deferred maintenance.
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BTW-I found out that the asking price on the car he bought was $49,995. I'm guessing he got it for around $45-47,000...that's just a guess though.
 
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