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All that glitters definitely isn’t gold, and that rings true with Ferrari. Not all Ferraris can be winners – the Ferrari F355 is a prime example.
The Ferrari F355 had a production life of only five years, and took notes from the 348, which was the last Ferrari developed directly under Enzo Ferrari. Unfortunately, the F355 didn’t quite hit the mark in terms of Ferrari pedigree. There have been some questionable cars that have somehow achieved the honor of wearing the badge of this coveted Italian sports car brand logo. And while we won’t deny that the Ferrari F355 is quite the looker, it isn’t without its fair share of problems.
Drivers of the F355 may have snagged this modern classic sports car at a steal of a price, but they can expect failing parts and problems to reach thousands of dollars in expenses. Maintaining the Ferrari F355 can easily turn both your debt and your stress up to an uncomfortable level. And is that really worth it, just to say that you are a member of the Ferrari-owning club?
Here’s the truth about owning a Ferrari F355, and why it just isn’t as good as the price tag would lead us to believe.
Everything You Need To Know About The Ferrari F355
In 1994, Ferrari released a reworked version of the Ferrari 348 by overhauling the exterior and making changes under the hood, to introduce what we have come to know as the Ferrari F355.
Under the hood, the F355 upgraded from the F348’s 3.4-liter V8 to a 3.5-liter V8 and brought in a five-valve cylinder head. These changes brought the performance up from 296 horsepower with the 3.4-liter engine in the F348 to 375 horsepower in the F355, with a compression ratio of 11:1. That’s a whopping increase of 23%, which is a substantial amount of power to pull from the adjustments Ferrari made.
Don't be mistaken, the F355 isn’t simply a remake of the 348 with a new look. Ferrari wanted the experience of driving to come out even more with the F355. A focus on driving for all situations became a point that Ferrari wanted to expand on, to make the F355 comfortable to drive at high speeds as well as low speeds, and in environments that don't always create the ideal driving conditions. That isn't necessarily something we would have expected from Ferrari, and maybe for a good reason.
Is The Ferrari F355 Reliable?
Ferrari aimed to make the F355 much better than its predecessor, and that meant addressing problems such as the transmission issues with the 348.
While there was a recall on the F355 to address a fuel leak, it didn't have an effect on every vehicle and was a simple enough fix. Generally speaking, Ferrari fans and owners would say that the first year of models will have its fair share of kinks that call for addressing.
Ferrari has short productions runs of their models, so they are usually quite aware of the faults. Ferrari will tinker and tweak their cars each year, just to get them just right. Naturally, earlier models of the F355 will have more quirks or issues. Aside from some random or one-off repairs, the F355 comes across as a fairly safe option for Ferrari in terms of reliability.
How Much Does It Cost To Maintain A Ferrari F355?
This is where things become less than desirable with the F355. Repairs and maintenance for the Ferrari F355 are fairly straightforward and about what you’d expect from an older Italian performance car – until they aren't.
Tires are average for the nature of the car, running about $700 per tire which is on the low side considering Ferrari tires, while expensive, can run as high as $2,000 per tire. Oil changes are fairly cheap for a performance car as well, coming in at around $500.
An area where you may see some steep costs for a fairly simple fix is the timing belt, which can run as high as $9,000. This is due to the fact that the engine is actually removed from the body to access the belt. Mechanics recommend that owners perform this service every 3 years or 60,000 miles, approximately, so adding that up amounts to some pretty steep upkeep. For perspective, an average car on the road right now would probably run about $500 to replace a timing-belt.
The Ferrari F355's price tag can lure car enthusiasts in, but the costly maintenance might make you think twice.
There Are Better Ferraris For You And Your Bank Account To Invest In
Those considering the F355 may also find something they like in the Ferrari 360 Modena. While the Modena is almost like a mirror of the F355, it has some key differences.
The 360 Modena won’t require you to remove the engine for that timing belt change like the F355, so by that example it is already a cheaper option in the long term. Investment wise, the Ferrari 360 Modena has seen a steeper price increase in the years, while the F355 has maintained its value with a slight increase as of recently. Plus, the 360 Modena earns praise for its superior driving experience when compared to the F355.
Any way you slice it, you'll end up paying a lot more than you anticipated once F355 ownership comes around. Gearheads should take a closer look at the F355 to determine if it really is worth it, or if you're better off without one.
Sources: Car and Driver, Classic, MSN, Auto Trader, Affordable Supercars