1998 Ferrari 355 Gts Targa on 2040-cars

E-Mail Questions at: hiramhrradwick@pcfans.net .

1998 Ferrari GTS Targa. This car is the rarest of all of the F355’s produced. Very few Targa’s were made
during the production run and even fewer of the Targa’s were color matched to the car. Most of the Targa Roof
Panels were the black vinyl skin. This car is the classic Rosso Corsa Red over Ferrari Tan.
Let me begin by stating this car has a rebuilt title due to an ignition fire in 2007. The fire started behind the
dashboard and was put out immediately. However, since a fire extinguisher was used, the interior of the car was
covered in the white powder. The insurance company appraisal dictated that every interior part be replaced
including seats instrument panel etc. Basically the car in 2007 was only worth the about the appraisal to fix
value and the insurance company declared the car a total loss.
The car only required repairs to the ignition switch, tachometer and speedometer bezels and a small part of the
dashboard. All of those items were repaired with factory Ferrari OEM parts. All remaining interior items were
simply vacuumed, shampooed and otherwise cleaned. The car had absolutely no body damage. Let me say that again
– the car had absolutely no body damage. The car has never been hit and has never had any paint work whatsoever.
I’ve added the actual insurance pictures to the listing so you can see the car in the condition after the
ignition fire.
I bought the car sight unseen after the repairs had been made. My intention was to use it for track days as at the
time already had a Ferrari F430. When the car arrived it was absolutely beautiful and was much too nice to tear up
to create a track car.
I’ve had the car for 5 years and it’s been a gem to own. I’ve put about 7,000 miles on it in 5 years and
it’s been thoroughly serviced.
Services:
13,000 miles (previous owner) Full Engine out 30,000 mile service.
20,685 (10/2010) miles (my ownership) Full Engine out Belt, Valve etc… 30,000 mile Service also replaced bad
exhaust manifold. Service was $13,690.00
21,302 (5/2011) miles (my ownership) Complete Clutch Replacement. Service was $4,102.00
22,941 (6/2012) miles (my ownership) Complete Engine out Service replaced other bad exhaust manifold. Service
was $5,821.00.
25,521 (8/2014) miles (my ownership) Battery Replaced with Optima Battery and chased a ground wire fault.
Service was: $668.00
26,452 (7/2015) miles (my ownership) Oil and Fluid Service and Suspension Diagnostic. Service was $1,331.00
The new owner will need to do nothing to this car from a service perspective for the next 5000 miles. It will not
need a 30K Service as it’s already had 2 of them.
Goodies:
The car has a full cat-back Tubi Exhaust with full stainless exhaust tips. It uses the factory catalytic
converters and it sounds absolutely amazing. A 355 without a Tubi is simply a crime. Other than that the car is
completely stock mechanically.
Black 19” Wheels. The Challenge wheels were on the car when I purchased it and they really give it a sporty
look. I do not have a set of the stock wheels, but there are always sets for sale on Ebay if you want to go for
the stock look.
Tires – Brand new Bridgestone Potenza S04 Tires were added at approximately 25,000 miles. They have 98%
tread left as I’ve driven about 1000 miles on them. Tires were $1,600 installed.
6-Disc CD Changer. Car has the Factory Ferrari Radio and Speakers which are terrible, but it does have a
6-Disc Changer under the boot. My advice – listen to the Tubi Exhaust sing as you pull through the gears.
Condition:
The car is a 9.5 out of 10 on the exterior. It has a complete clear bra on the front fenders, hood, nose and
mirrors. The paint is immaculate and there are no dings or noticeable scratches.
The interior is a 9 out of 10. There is some very slight leather fade on the emergency brake. The seats are
in amazing condition (see pictures).
The dash has no shrinkage and the instrument knobs are in very good shape. The car was always garaged and
never left in the sun. There are new floor mats (installed approximately 2014).
Issues:
The car has a suspension light illuminated on the dash. The rear shocks have small plastic gears on the top
that act as set points for the suspension system when you select comfort or sport mode. They are prone to fail and
they throw a light. My shop researched a fix. New shocks are $1000 each plus 2hrs labor. Rebuilt shocks are $450
each plus 2 hrs labor. I didn’t bother to fix the system as it does not impact driving quality or affect the
operation of the shocks. Your choice to fix or not – no inspection issues with suspension light.
The driver’s side window once in a while won’t operate. There is a loose wire under the dash. If you hold
the window switch and jiggle the wire harness under the dash the window moves immediately. Kind of annoying, but
since I can’t find the loose connection, I just live with having to do this once in a while.
Value:
F355 cars are climbing in value. The GTS are climbing the fastest because they the rarest, followed by the
Berlinetta. 6-Speed cars worth much more than the horrible 355 paddle cars and if you own a 355 spider you’ll be
waiting a long time for them to catch up in value. The point here is this car will not lose any value (even with
the title) and will very likely appreciate substantially in the next 3-5 years.
Don’t miss your chance to own a Ferrari for the price of a used Corvette.