328 GTS - First Ferrari

[magarnett]

I have been looking out for a good 328 GTS for some time now and have finally found a 1987 GTS with 18k miles in red with cream leather, 5 owners, FFSH (except 4 yrs since last service due to very little milage). Its a private sale and due a cam belt service. Would appreciate if you could advise re the following:-

1. expected purchase price
2. coast of can belt service
3. probability of additional items being found at service
4. will the 4 year with no service effect the sale value in the future.
5. 328 GTS reliability

many thanks

[456mgt]

magarnett said:

I have been looking out for a good 328 GTS for some time now and have finally found a 1987 GTS with 18k miles in red with cream leather, 5 owners, FFSH (except 4 yrs since last service due to very little milage). Its a private sale and due a cam belt service. Would appreciate if you could advise re the following:- 1. expected purchase price 2. coast of can belt service 3. probability of additional items being found at service 4. will the 4 year with no service effect the sale value in the future. 5. 328 GTS reliability many thanks

Sorry, but never having owned one, I can't help you much. One of my neighbours has one (328 GTS) and bangs on about their simplicity, how easy it is to work on yourself, how it costs him £1K a year to run, and that it's gone up in value since he bought it. That said, he always has oil dripping on the floor and is constantly battling rust. He took me for a spin in it and I was impressed with the handling. It's quite quick too, though you won't be blowing anyone's doors off.

1) Dealer price appears to be low-mid 30s so I would expect 26-32 for a good private car

2) Don't know. Recall £400-600

3) If you don't I'll eat my shoes!

4) Call it blind prejudice but this bit would concern me. Even if the car wasn't being used much, I'd be MUCH happier if it had been serviced at regular intervals. It's the age of the cambelts that's important, as I'm told these degrade over time, which is why you change them even if the car hasn't moved an inch in 3 years.

5) Don't know.

If it were me, I'd buy this car from the next owner. This is purely because one guy I met had bought a 308GT4 with some crazy low mileage having been stored for years; 100 miles later the engine detonated because various bits had perished. I would prefer someone else did the destruction testing, put a few K miles on it so I would be happy it was sound. And I would beat them up over the hole in the service history

[355f]

(except 4 yrs since last service due to very little milage). Its a private sale and due a cam belt service. Would appreciate if you could advise re the following:-

1. expected purchase price
2. coast of can belt service
3. probability of additional items being found at service
4. will the 4 year with no service effect the sale value in the future.
5. 328 GTS reliability

Generaly speaking from what ive heard the 328 is a good car and one of the less expensive in terms of servicing as you dont need to take the engine out.

The problem here would seem to be the 4 year lack of records. Little use equates to lots of problems when you start really using it and even if next to no use the manual calls for annual sevices.

I think resale would be affected a lot, might be ok if you sold it privately but I dont think a reputable dealer would touch it.

Effectively, with no service records to confirm the usage for that four year period its a worry especially as the fuse can be pulled to just stop the speedo.

I have no idea on pricing as for cambelt cost that seems to be about £1500 with 18K service at a non franchised dealer

I think I would move on

[magarnett]

Thanks for your replies. What I forgot to mention (oops) was that the car has been owned by a good friend of mine who is a Ferrari fanatic. It has done 4,500 miles in the last 4 years and also run regulary each month up to temperature to ensure engine was exercised. Will this additional information alter your views in any way. His asking price is 30k as this was offered by a dealer as is without seeing the car.

[355f]

magarnett said:

Thanks for your replies. What I forgot to mention (oops) was that the car has been owned by a good friend of mine who is a Ferrari fanatic. Well if he is a true fanatic he would have ensured that the car had its annual servicing - I mean wouldnt you???? NO service records in FOUR years!! It has done 4,500 miles in the last 4 years and also run regulary each month up to temperature to ensure engine was exercised. Well thats a start , I think once a week for a short run would be better!! but when you sell the car yourself in a few years who else will know these facts? Will this additional information alter your views in any way. His asking price is 30k as this was offered by a dealer as is without seeing the car.

I dont know many dealers that give firm pricing over the phone without seeing the car! I still dont think a main dealer will buy this car.

The fact is it has some service history- NOT a full service history.

All the owners I know make sure that the cars are serviced once a year even if usage is very low.

[lotusnobles]

355f said:

magarnett said: Thanks for your replies. What I forgot to mention (oops) was that the car has been owned by a good friend of mine who is a Ferrari fanatic. Well if he is a true fanatic he would have ensured that the car had its annual servicing - I mean wouldnt you???? NO service records in FOUR years!! It has done 4,500 miles in the last 4 years and also run regulary each month up to temperature to ensure engine was exercised. Well thats a start , I think once a week for a short run would be better!! but when you sell the car yourself in a few years who else will know these facts? Will this additional information alter your views in any way. His asking price is 30k as this was offered by a dealer as is without seeing the car. I dont know many dealers that give firm pricing over the phone without seeing the car! I still dont think a main dealer will buy this car. The fact is it has some service history- NOT a full service history. All the owners I know make sure that the cars are serviced once a year even if usage is very low.

Yeah... most makes its x,000miles OR 12mths Which ever occurs first!

[456mgt]

Well, 1K per year seems to be about average for 328s. If that mileage is genuine, its 18K miles for a 16 year old car. I wouldn't be surprised if the real mileage is triple that.

The fact that it has been used reduces the likliehood of a blowup, though I wouldn't put much store behind static running.

Why not go along to the dealer with your friend and hear first hand what they say? Still don't like it much- maninly the price. If it's 30K it's not 'cheap'. The other thing to bear in mind is how good a friend it is- will this friendship survive when (not if) things go wrong.

[craigw]

bloody hell 30k, you can have mine for that if you'll sit in the left hand seat!

[nevpugh308]

I know someone who's just paid £37k for an (admittedly absolutely) mint 328 with about 14k on the clock.

If you're keep on the car, I'd use the service gap (which would worry me a bit) as a bargaining tool, so you've got a bit of cash in the bank for repairs if something does fail.

BTW just letting a car sit there idling every month can be just as damaging as not using it. For a start, that doesn't excercise the brakes/suspension/gearbox/clutch etc, and secondly the engine rarely gets hot enough to burn off all the moisture when it's just idling and not under load.

[PatHeald]

I was saving up for a 328 GTS, but ran out of patience.

I ended up buying a 1987 Turbo Esprit to keep me out of mischief until I could afford the 328.

In the last couple of years before I bought it, the Esprit had only covered a few hundred miles. I put on 800 miles in a couple of months.

I have had to replace the exhaust, radiator, gear linkage, clutch hose, clutch slave cylinder, tyres, lots of hoses and many fasteners.

Next job is the steering rack and then the brakes. I think I've escaped pretty lightly.

Lack of use doesn't suit any car, Lotus, Ferrari or Datsun.

Be prepared for lots of expense if you get this car and start to use it.

I would let your friend sell this car to a dealer and then buy it with a fresh cam belt service and a proper warranty.

I would then use the car LOTS for the first few months.

I expect that the dealer's profit margin and the possible warranty claims would cancel each other out with this car, leaving you with piece of mind for free.

Good Luck.

Pat.