Five years ago I wrote about 5 affordable Ferraris. What a difference half a decade can make. At the time you could purchase a decent Ferrari 308 GTB/GTS for less about $30,000. Now that same car is worth close to $90,000!
Needless to say, it is time to update the list as $90,000 is only cheap to someone who can already afford a newer Ferrari. Incidentally, one of my largest regrets in my “car life” is not purchasing a 308 that I had found for $25,000.
I instead bought a Porsche 996, which is a fine car for daily use (much better than the Ferrari), but as of yet hasn’t shot up in value like the 308; and it probably never will to the same extent.
Without further ado, here are 5 affordable Ferraris for 2018.
In the world of Ferrari cheap is a relative term. For this list we have tried to find cars that can be had for under $60,000 and some can be had for as low as $30,000. Of course the price range for that model may quickly climb for examples with lower mileage and in better condition.
5. Ferrari 308 GT4
The Ferrari 308 GT4 was marketed as a Dino, but was built by Ferrari. Because of this, most cars would later have a prancing horse emblem installed.
At the time Ferrari used the Dino badge to differentiate the six and eight cylinder cars from their 12 cylinder performance cars. The Dino marque was chosen to commemorate Enzo Ferrari’s son that had tragically passed away.
The Ferrari Dino 308 GT4 is powered by a 3.0-liter V8 sitting just ahead of the rear axle. Rear seats were installed making the 308 GT4 a 2+2 configuration.
Prices of Ferrari 308 GT4s have been on the climb recently. This is likely somewhat a reaction to the fact that the 308 GTS/GTB have skyrocketed in price.
About five years ago you could purchase a decent 308 GT4 for under $25,000. That same car would now cost about $40,000 and prices go up from there. In our research of decent cars we found that they range from $40,000 all the way to $150,000.
The upper range car is for a car with no cosmetic or mechanical issues and one with very low mileage. At the lower end you will find drivable examples that need some cosmetic issues taken car of and may need some maintenance that has been deferred.
4. Ferrari 400i
The Ferrari 400i is the fuel injected version of the 400. The move away from a carburetor allowed the 400i to comply with US emissions standards. From 1979 – 1981 the Ferrari 400i produced 305 horsepower from its V12 engine.
In 1982 modifications to the cam shaft allowed a slight power bump up to 315 horsepower. That output would remain until the model ended production in 1985.
Right now the 400i is one of the most affordable Ferrari V12 options. Prices range depending on milage and condition. The low end is just under $40,000 for a well maintained example with just under 50,000 miles on it. Ultra low mileage examples can cost as much as $130,000, but that is much more than most.
For the most part prices for good well maintained examples range from $40,000 – $80,000 depending on mileage and condition.
3. Ferrari 348
The Ferrari 348 is currently the unloved mid-engined V8 model. The 348 featured a 3.4-lier engine utilizing drysump lubrication. The power plant produced 300 horsepower and was mated to a transverse transmission.
All of this works together to help the 348 launch from 0-60 mph in 5.8 seconds. The anti-lock brakes and the low center of gravity work together to allow for quick cornering.
The market for the Ferrari 348 tb / ts has stayed pretty quiet for the past five years. Where the earlier 308 and 328 models have seen a quick rise in value, 348 prices have stayed largely flat.
You can find well maintained higher mileage examples for as low as $40,000. While there are some ultra low mileage (627 miles to be exact) examples that have a seller asking $250,000, it is rare to see such a high price.
Outside of outliers current values range from $40,000 – $85,000 with a lot of good examples available for under $60,000.
2. Ferrari F355
Any fan of the Fast and Furious franchise would love to own a Ferrari F355. While driving one you’ll just wait for someone to say, “What’s the retail on one of those?” Just so you can say, “More than you can afford pal. Ferrari.”
The F355 uses a mid-mounted 3.5-liter V8 and a 5-valve per cylinder head. The F355 pumped out 375 horsepower helping it rocket from 0-60 mph in just 4.7 seconds.
Values of Ferrari F355s are strong right now, but they can still be had for about the same price as a new Porsche 718 Cayman. Now that isn’t cheap, but for a Ferrari with this kind of performance, it isn’t bad.
The F355 can be had for just under $50,000 for a well maintained example with about 35,000 miles. Ultra low examples with less than 5,000 miles can cost up to $150,000.
In general F355 prices range from $50,000 – $80,000. There are a number of good vehicles available for under $60,000.
1. Ferrari Mondial
The Ferrari Mondial is a 2+2 model with a mid-mounted V8 engine. The power plant used in each year of the Mondial was the same as the two seater V8 powered car of the same year, the 308 / 328 / 348.
Depending on the year of production the Ferrari produced between 214 horsepower and 300 horsepower. The 1980 model had the lower power output and on the other end of the spectrum you have the more powerful 1993 model.
The Ferrari Mondial is the most affordable Ferrari today. You can find Mondials in good condition for as low as $30,000. For that you get a car with nearly 50,000 miles on it, which is a ton for a Ferrari.
In general prices of Ferrari Mondials range from $30,000 – $80,000, depending on the model year, condition and mileage. For the most part, the later models with lower mileage demand a higher price.
There are plenty of good well maintained Mondial examples for under $50,000.
Ferrari ownership is the dream of many enthusiasts. Driving a car with a prancing horse, more than just about any other badge, says that you have made it.
Ferrari ownership can cost less than a well optioned mini-van. While purchasing a car from the Italian sports car maker can be within reach for many of us, keeping that car on the road may make ownership difficult. Before you purchase any car research maintenance costs. In general figure on putting away at least $3,000 – $5,000 a year for repairs depending on how much you can do yourself and the particular Ferrari model.
As with any used high performance car, a pre-purchase inspection is a must. Doing so can save you a lot of expense down the road or give you a bargaining chip to get a lower price.
If you manage to get a good price and budget repair costs appropriately, a Ferrari can be a joy to own and drive. If not, it can quickly turn south.
Picture Source: Wiki Commons