Several years ago, I briefly owned a Ferrari — and when I was purchasing it, I was constantly reminded of the following axiom: The cheapest Ferrari you can buy is actually the most expensive Ferrari you can buy. This is because a "cheap" Ferrari likely has deferred maintenance and repair needs, and the thinking is that you’ll end up spending more to fix a "cheap" Ferrari than you would if you just bought a nice one.
With that in mind, these are the cheapest Ferraris on Autotrader. Given my comments above, I don’t suggest that you run out and buy any of these. In fact, I strongly suggest you simply look at them from your computer, imagine what could be and then go back to your normal life, where you drive a normal car, such as Ford Focus ST. But if you have deep pockets, good mechanical knowledge, a sense of adventure or all three… then one of these cars could be a hoot.
Oh, and one other thing: These aren’t strictly the cheapest Ferraris on Autotrader but rather the cheapest of each model. If this were a listing of just the cheapest, you’d see four Mondials and two 348s, and you’d quickly become bored.
1. 1988 Ferrari Mondial – $33,995
This is the cheapest Ferrari on Autotrader. A 1988 Mondial 3.2 offered by a private seller in Schenectady, New York, this car offers you an entrance into Ferrari ownership for just $33,995, which is less than the price of most new Lexuses. Although it’s finished in Ferrari’s world-famous Rosso Corsa exterior paint color with a tan interior, this Ferrari is still a Mondial — possibly the most poorly regarded modern Ferrari, deservedly or not. Although it seems like this car has a few issues as described in the ad, not to mention a relatively high 66,000 miles, it’s still a cheap way to show up fellow Cars and Coffee attendees who have Mustangs and Corvettes. Find a 1988 Ferrari Mondial for sale
2. 1995 Ferrari 348 Spider – $42,500
This 1995 348 Spider is surprisingly inexpensive, considering that it looks to be in excellent shape and hails from the 348’s final model year, when only drop-top Spider models were sold alongside the new-for-1995 F355 Berlinetta. Also maligned like the Mondial, the 348 has never found much love among Ferrari fans, though I personally have always liked it. I think this one looks especially nice, with its gorgeous yellow exterior and its relatively well-kept interior, but it has a high-for-Ferrari 59,000 miles on the odometer. Its location in suburban Tulsa, Oklahoma, probably isn’t helping things much, since it’s difficult for a prospective buyer to find a Ferrari mechanic in Oklahoma for a good pre-purchase inspection. Find a 1995 Ferrari 348 for sale
3. 1985 Ferrari 308 GTS – $55,000
This 1985 308 GTS is offered in a tremendously unusual color, noted in the listing as "Burgundy" but likely called something else by Ferrari. Reportedly with one owner for the last 30 years, it’s offered by a private seller in the foothills of the Blue Ridge Mountains in Lenoir, North Carolina, with 71,000 miles for $55,000. Although the ad states this car is a 308 GTB, it’s actually the more common GTS model, which means it has a removable targa top. Pricing is reasonable for this car, especially considering its long ownership history — though its high-for-a-Ferrari miles could cause trepidation among some buyers. Find a 1985 Ferrari 308 for sale
4. 1999 Ferrari 355 F1 Spider – $55,000
The Ferrari F355 is one of the most beautiful Ferrari models ever made, though I’ve always felt the car’s wonderful lines are lost a bit in the transition to the soft-top Spider variant. Still, the F355 is highly desirable, but it’s also full of issues, as it’s noted for problems like failing headers and valve guides. The 355 also suffers from a maintenance schedule that requires pulling the entire engine out of the car every few years — a service this particular 355 undoubtedly needs. This particular F355 also suffers from a mediocre transmission: It’s among the earliest cars with Ferrari’s F1 paddle-shift transmission, which was clunky and slow to shift. The result is a relatively low asking price of just $55,000, as offered by a private seller in Kemah, Texas, between Houston and Galveston. Find a 1999 Ferrari F355 for sale
5. 1995 Ferrari 456 GT – $57,995
The Ferrari 456 GT is perhaps Ferrari’s most unfairly unloved modern model, a gorgeous V12-powered car with understated looks that don’t really fit most ideas of what a high-performance car like a Ferrari should be. The result is that these haven’t fared well on the used market, coming down from their original prices of nearly $300,000 in the 1990s to somewhere in the $50,000-$80,000 range today. This particular 456 is the cheapest one on Autotrader: a dark blue 1995 model with just 17,000 miles and wheels from a 550 Maranello. While it’s a gorgeous, clearly well-kept car, it does have one little issue: a blue interior, which may turn off some buyers. Find a 1995 Ferrari 456 GT for sale
6. 2001 Ferrari 360 Spider – $59,000
Although the Ferrari 360 has generally held its value well due to a relatively modern design, excellent performance and decent reliability, this particular 360 isn’t in perfect shape. In addition to the high-for-a-Ferrari mileage of 38,000, it has a loose rear bumper, a convertible top that only works manually and some areas that need paint. It also doesn’t come with any service records, meaning it’s hard to know when the last (highly expensive) major service was done — and the aftermarket chrome wheels likely aren’t helping its case, either. Still, this is the cheapest 360 on the market, which makes it the cheapest Ferrari of the brand’s truly modern era, and it’s offered for just $59,000 from a private seller in Miami. Find a 2001 Ferrari 360 for sale
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