Affordable Exotics: Ferraris

Ferrari Mondial (1980-1993)
Although criticized for its bland styling and modest performance, the Mondial cabriolet is one of the cheapest Ferrari convertibles, plus it has four useful seats. The Mondial was a sporty 2+2 for the country club set, decried by Ferrari traditionalists, but popular with more sedate drivers. Mondials shared engines with whatever two-seat Ferrari was also in production at the time. The first Mondials (1980 to 1981) had the anemic engine also used in the 308 GTBi/GTSi models, but was far heavier so performance can best be described as tepid. In 1982 the QV engine perked things up some and in 1985 the 328 engine made the Mondial almost adequate. The final evolution was the Mondial t (1989-1993), which used the muscular engine from the Ferrari 348 to make the Mondial come alive. More cabriolets were sold than coupes, with a total of 6,104 Mondials of all types sold. The high production numbers and lackluster performance have kept Mondial prices in the thirties, with the Mondial t selling in the mid-forties.

Perilous Ponies
Not all Ferraris are universally loved, and some have poor maintenance records (even by exotic car standards). Here are a few low-priced used Ferraris to be avoided.

365 GTC/4 (1971-1972)
This front-engined V-12 coupe had a family resemblance to the famous Daytona, but under the skin it was a more sedate 2+2 touring model. To get a low hood line, six Weber carburetors were mounted on the sides of the engine, which made even basic maintenance time-consuming and expensive. Also, the rubber-coated crash bumpers look tacked-on and bulky. As a result, 365 GTC/4s can be found in the mid-forties, but watch out for horrendous maintenance and repair bills.

400a (1976-1984)
This wedgy four-seater with an automatic transmission was a money-maker for Ferrari, with 873 sold (plus another 421 of the 400 GT version with manual gearbox). It's a heavy tourer that drives like a base-model Camaro. The angular styling has not aged well and repair costs are sky-high. Due to their low resale value, many have not been properly maintained and need major work. Prices start in the twenties.

348 (1989-1994)
Early examples of this striking two-seater were beset with performance and quality problems. Handling was twitchy and the fit-and-finish was sub-standard at best. As production increased the 348 got better, but the model was always dogged by a bad reputation generated by the first examples. The 348 never sold as well as hoped and this affected used values as well. This makes late-model 348s a bit of a bargain, but avoid the early ones. Asking prices run from the forties to the fifties, but demand is soft, so don't hesitate to make offers.