348 buying advice
Discussion
Hi
I had a look at a gorgeous 348 last weekend, been doing some research on here and other sites but still have a few questions. It is a 91 car with 48,000 miles. An average of around 2800 miles p.a seems what I would have expected but it seems a lot of cars the same age have only done around 30k. I plan to do around 3000 p.a so if I sell in 4-5 years it will have at least 60k on the clock. Is this likely to make it hard to sell or hurt the resale price?
Also what is a reasonable number of owners for a car of this age. Some seem to change hands quite frequently and I wondered how many owners would be ok before you would be put off.
Finally, I did not see a tool kit in the boot when looking at it. Should they all have this? If it does not, can they still be purchased?
Thanks for your help.
Gavin
I had a look at a gorgeous 348 last weekend, been doing some research on here and other sites but still have a few questions. It is a 91 car with 48,000 miles. An average of around 2800 miles p.a seems what I would have expected but it seems a lot of cars the same age have only done around 30k. I plan to do around 3000 p.a so if I sell in 4-5 years it will have at least 60k on the clock. Is this likely to make it hard to sell or hurt the resale price?
Also what is a reasonable number of owners for a car of this age. Some seem to change hands quite frequently and I wondered how many owners would be ok before you would be put off.
Finally, I did not see a tool kit in the boot when looking at it. Should they all have this? If it does not, can they still be purchased?
Thanks for your help.
Gavin
944gav said:
Hi
I had a look at a gorgeous 348 last weekend, been doing some research on here and other sites but still have a few questions. It is a 91 car with 48,000 miles. An average of around 2800 miles p.a seems what I would have expected but it seems a lot of cars the same age have only done around 30k. I plan to do around 3000 p.a so if I sell in 4-5 years it will have at least 60k on the clock. Is this likely to make it hard to sell or hurt the resale price?
Also what is a reasonable number of owners for a car of this age. Some seem to change hands quite frequently and I wondered how many owners would be ok before you would be put off.
Finally, I did not see a tool kit in the boot when looking at it. Should they all have this? If it does not, can they still be purchased?
Thanks for your help.
Gavin
Unfortunatly, some potential owners will be put off by the high mileage when you sell it. Even though the car will be in very good condition. Same will aply to the number of owners.I had a look at a gorgeous 348 last weekend, been doing some research on here and other sites but still have a few questions. It is a 91 car with 48,000 miles. An average of around 2800 miles p.a seems what I would have expected but it seems a lot of cars the same age have only done around 30k. I plan to do around 3000 p.a so if I sell in 4-5 years it will have at least 60k on the clock. Is this likely to make it hard to sell or hurt the resale price?
Also what is a reasonable number of owners for a car of this age. Some seem to change hands quite frequently and I wondered how many owners would be ok before you would be put off.
Finally, I did not see a tool kit in the boot when looking at it. Should they all have this? If it does not, can they still be purchased?
Thanks for your help.
Gavin
Get a PPI done with a full compression check. If it pases that, then you should be okay.
There should be a leather toolbox in the boot.
Unfortunately, the higher the mileage, the harder they are to sell but it's very difficult to quantify the value. If it's still a good car in 5 years despite having a reasonable amount of miles, than it will be re-sellable. Have a good look at the price of 308s or 328s now and that might be quite indicative.
The best bit of advice I have is to look at the smiles per mile value and compare any depreciation (if there is any) against that of a new BMW or Audi of a similar price bracket and you won't even bother answering this post cos you'll be on the way to pick a Ferrari up!
The best bit of advice I have is to look at the smiles per mile value and compare any depreciation (if there is any) against that of a new BMW or Audi of a similar price bracket and you won't even bother answering this post cos you'll be on the way to pick a Ferrari up!
Hi Gavin,
I have seen the car you are looking at, and will actually see it again this weekend when I drop my 355 off to be serviced. I have no vested interest at all and have not lookied into the history of the car, but would say that it looks really good and appears priced fairly sensibly and is for sale at a dealer with a good reputation. Two years ago I spent a fair bit of time and a fair bit of travelling to look at 348s and 355s including a couple of trips to London dealers and the car at TG is as nice as any of the ones I looked at, including ones which were considerably more expensive.
The mileage / resale quandry is something that only you can make a decision on. Personally it wouldn't be an issue for me (my 355 had done 37k when I bought it)and I don't think it will be much of an issue for me come resale time, but who knows. In the meantime the best bit of owning a Ferrari is driving it, and the more you drive it the more the mileage goes up. There are a lot cars out there with low mileage and patchy history. Best advice would be to buy a good car and look after it. That way you can be as sure as you can be that someone else will want to buy it from you at resale time.
Jim
I have seen the car you are looking at, and will actually see it again this weekend when I drop my 355 off to be serviced. I have no vested interest at all and have not lookied into the history of the car, but would say that it looks really good and appears priced fairly sensibly and is for sale at a dealer with a good reputation. Two years ago I spent a fair bit of time and a fair bit of travelling to look at 348s and 355s including a couple of trips to London dealers and the car at TG is as nice as any of the ones I looked at, including ones which were considerably more expensive.
The mileage / resale quandry is something that only you can make a decision on. Personally it wouldn't be an issue for me (my 355 had done 37k when I bought it)and I don't think it will be much of an issue for me come resale time, but who knows. In the meantime the best bit of owning a Ferrari is driving it, and the more you drive it the more the mileage goes up. There are a lot cars out there with low mileage and patchy history. Best advice would be to buy a good car and look after it. That way you can be as sure as you can be that someone else will want to buy it from you at resale time.
Jim
Thanks guys. It really does look like an excellent car and I really really wanted it when seeing it - I was just trying to be careful to make sure I am making the right decision as it is a really big purchase for me! I have wanted a 348 since they were first launched (although a 355 like yours would be great instead Jim!!) and this one is the right colours for me. My wife thought it funny that it was parked next to a £110k Murci which I paid no attention to at all, just kept looking at the 348. Clearly a good sign it is right for me. Hopefully I will get a nice sunny day on Saturday to drive it and then I will no doubt have a permanent grin
Would suggest buying on condition and not miles, its very easy to disconnect the speedo sensor on a 348 / 355 and I'm pretty sure many cars have done far more miles than their speedo suggests.
Would agree with the comments above about the TG car, I saw it a couple of weeks ago when picking up my 348 and it looked a very clean, Carlo is also a very decent bloke to deal with.
One thing I'd suggest if you do buy it is to budget for a sports exhaust if it doesnt already have one, just doesnt sound anything like a Ferrari should without one !
Would agree with the comments above about the TG car, I saw it a couple of weeks ago when picking up my 348 and it looked a very clean, Carlo is also a very decent bloke to deal with.
One thing I'd suggest if you do buy it is to budget for a sports exhaust if it doesnt already have one, just doesnt sound anything like a Ferrari should without one !
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