Worthless Ferrari, What to do with it?

[enzo1187]

A friend of mine recently took hold of a Ferrari 355 Spider. The car is in need of a major engine rebuild. Two of the cylinders are just about out and a compression test shows the whole engine can fail at any moment. Ferrari of Edison gave a rough estimate of about 40-50k for a rebuild....obviously not worth it when you consider that a well maintained 355 can be found for slightly more money. Let me state that the car was essentially given to my friend for free (yes that sounds outrageous but I won't go into the details of that ). This predicament has left my friend and I wondering what the best path to take would be with this car. He doesn't want to spend $50k. He loves having the car, and would like to make it usable. So we are left with the options:

1.) Find a used 355 engine and rebuild ($$$$$, hard to justify)
2.) Do an insane engine swap (2JZ, RB26DETT, LS7...yes probably the most sacriligious act that can be made in the world of automobiles, yet so outrageous, the idea seems cool )
3.) Drive the car until its inevitable engine failure (most destructive option)
4.) Sell for parts (yawn, how often do you get a Ferrari given to you? And he doesn't need money)

What does TCL think of this unusual scenario?

Pics for clicks

[shadowmilkman]

turbo ls1?

[Chris.K]

I think I would put it in my room and make it into a race car bed.

[kkelter]

[clutch_dust]

Give it to me.

I've found complete 355 drivetrains on ebay for around $25k, but I'd be more inclined to go the LSx route.

[th535is]

16k for a used engine on ebay http://cgi.ebay.com/ebaymotors..._1050

[Jrod511]

Buy this; put it into car.

http://cgi.ebay.com/ebaymotors...b51ef

Change the belts/pumps, etc...before it goes in. So now he's into his Free Ferrari for 20 grand.

Part out the old motor to re-coup some costs;let's say back down to 15-16k. Enjoy the car for a year or two and sell it for 3x what he has into it?

[VierSpeed]

Quote, originally posted by clutch_dust »

I'd be more inclined to go the twin-turbo LSx route.

[MikkiJayne]

Drive it 'til it breaks then throw an LSx in it

[mobile363]

These have a longitudal engine setup, yes?

[Projekt R32]

Race car bed x2

[warrenW]

there is enough room in the back to put a TT LSx. so do it.

[urogolf]

slap aircooled bug motor in it

[65dunebuggy]

Quote, originally posted by slimmy420 »

Race car bed

X3

[TheScott]

LSx. Do it. Make the Eye-Talians angry at you.

[B3passatBMX]

Quote, originally posted by warrenW »

there is enough room in the back to put a TT LSx. so do it.

[enzo1187]

Quote, originally posted by mobile363 »

These have a longitudal engine setup, yes?

Yes

The idea of an engine swap is intriguing to me because I think when its all said and done, it will be a great deal cheaper than a 355 engine replacement (I may be way wrong), yet it can turn the car into a whole other monster. Figure a 2Jz can be had for $4-5 grand. What would real world fabrication and installation costs be? How challenging and time consuming would it be? I figure this is something that probably has NEVER been done before, I would love for someone to prove me wrong. Even with a used 355 engine for $16k (which sounds very cheap from what I've seen), you have to expect that all the service and work that would still be needed could easily be well above another 10-15 grand

[Peloton25]

I'd seriously suggest asking the question in the 348/355 section on FerrariChat. I am sure some of them have faced similar situations and they might have some good suggestions that will allow the car to remain a Ferrari without that kind of cost outlay.

Some of those guys don't have such deep pockets themselves so they are forced to get creative in order to live their dream.

>8^)
ER

[eunos94]

Give it to me and I'll do a full TDI swap and make it my daily.

[mx5er]

Did your friend register it under his name? If not yet then I'm sure the DMV will tax it on book value regardless of the car's condition. Also, I'm sure insuring it, especially in NJ will be mind blowing

I say sell it for parts.

[enzo1187]

Quote, originally posted by TheScott »

LSx. Do it. Make the Eye-Talians angry at you.

Yes! I am a self proclaimed FERRARI NUT, but given the circumstances, I would pay money to see the reactions of the snobs at Ferrari Concours when they realize the loud shriek of the 355 has given way to the rumble of a Corvette

[TurboREX]

engine swap, mayb a viper motor?

[Entwerfer des Audis]

Quote, originally posted by clutch_dust »

Give it to me. I've found complete 355 drivetrains on ebay for around $25k, but I'd be more inclined to go the LSx route.

You work at Winfield's Rod & Custom. Surely you can be more creative than that!

[TooFitToQuit]

I think even A-list celebs would put out if you had a F355 car bed. But only if you lower it.

[purplejettahondaeater]

buy the engine out of a wrecked on on copart, shouldn't be more then 7-8k

[enzo1187]

Quote, originally posted by DarthVader »

I think even A-list celebs would put out if you had a F355 car bed. But only if you lower it.

Sig worthy

[winstonsmith84]

Tell me more about this compression test....

Wet or dry?

Could we just be dealing with a bit on carbon on the valves? Does it run? Bring it to me now. I'll find out.

Really. If this car has been treated like a baby, go run the holy **** out of it for an afternoon. then repeat the compression test. You may be quite suprised.

[TooFitToQuit]

Quote, originally posted by enzo1187 »

Sig worthy

[eunos94]

You could really blow peoples minds by doing a Fiero swap!!!

[Jordan 191]

Along the lines of racecar bed, strip out the heavy stuff and mount it like this in your house.

[enzo1187]

Quote, originally posted by winstonsmith84 »

Tell me more about this compression test.... Wet or dry? Could we just be dealing with a bit on carbon on the valves? Does it run? Bring it to me now. I'll find out. Really. If this car has been treated like a baby, go run the holy **** out of it for an afternoon. then repeat the compression test. You may be quite suprised.

The car runs, but trust me, it definitely hasn't been babied. My friend and I have had no hesitation in beating on it (the way it drives right now is awesome, just gives me the urge drive drive an example thats not on the verge of self destruction!). Idk if the compression test was wet or dry, but Ferrari of Central Jersey said theres no doubt about it, the engine is on its way out. The test was conducted on a PPI and they simply stated "you don't want to buy this car".

[Murderface]

Quote, originally posted by eunos94 »

You could really blow peoples minds by doing a Fiero swap!!!

head assplode!

I would either:

1. Find out exactly what's wrong with it and maybe replace just the faulty parts if it's not widespread.
2. Try and find a deal on a used engine.
3. Swap in something custom and outrageous

[TooFitToQuit]

What about have it all polished up and just sitting in the garage?

Not like F-car owners drive them much.

[MGQ]

iron duke! keep those fiero guys wondering

[Hogan]

Another one for the car bed idea.

And maybe if he's good his roommates can get him rims for it for his birthday.