But if you are going for value and dependability, then the 308 GTB/GTS Quattrovalole is the one to get. Later models are usually better built, covered fewer miles, and with 4-valve per cylinder technology and fuel injection, 308 is a well-behaved sports car with still exciting performance. Of course, we wouldn’t count out the 308 GTBi/GTSi models. However, their lack of power could be a turn off for most collectors. 

The engine

The prospective buyers will be happy to know that the 2.9-liter V8 is a very dependable unit, as long as it is adequately maintained. Since this is an aluminum block and high revving motor, the oil consumption is to be expected, especially if you know that most of those engines are over 40 years old. That being said, a small amount of smoke is to be expected and tolerated when starting the car. However, large amounts and seeing white smoke is a sure sign that piston rings are on their last legs and that the engine is in desperate need of a full rebuild. As you would expect, something like this is costly, both in parts and labor. 

The later models with Bosch fuel injection are generally more dependable, but the K-Jetronic system is notorious for being hard to adjust and repair. If the car has sat for a long time or was neglected, the chances are that you will need a very expensive and completely new fuel system. If you are looking to restore the 308 GTB/GTS from the ground up, you might be better off with an earlier, carbureted example. 

Do not fear high-mileage examples since the Ferrari 308 was designed to be driven and used daily. If the car were properly maintained and cared for, it would reward the careful owner with fantastic durability, at least for Italian sports cars from the ’70s. 

Of course, the complete service history is a must, and cars with checkered past, no matter how good the condition they might be in, cannot command the high prices. 

Bodywork

Even the bigger and more expensive problem can be the bodywork, and you should pay particular attention when inspecting the body of the Ferrari 308. Apart from the couple hundred Vetroresina cars, which are made of fiberglass, all the rest 308s are prone to rust. Rust can be a big problem since 308’s chassis, not just bodywork, was made out of steel tubes, and if the car was damaged, poorly repaired, and have bent chassis, it could develop structural rust, which means it is only good as a parts donor. 

The common rust spot you need to check is front fenders, rear wheel arches, the bottom of the trunk, floors and rocker panels. If you notice bubbling under the paint, this is a sign of a much bigger rust problem, so take your time and thoroughly check all those places. Our advice is to remove the carpeting, insulation materials (if possible) and pull rubber seals around the door since the rust can appear there. 

Interior and electronics

The interior can tell you a lot about the car’s condition. Apart from the seats and dash’s visual appearance and condition (shouldn’t be cracked), always check the door cards, switchgear, seat mechanism, and electric devices. If the car wasn’t stored properly or it was taken apart, the door card will not fit right as well as some other parts of the interior. 

Most of the 308s produced are low-optioned cars, which means no A/C, no power windows or mirrors, which is good since there are fewer things to worry about. However, if the perspective example has some of those features, they should work flawlessly. Broken A/C shouldn’t be a deal-breaker but will require a sizeable discount on the asking price. 

If the car comes with original wheels, tools, and luggage set, it was well-cared for and probably original and in excellent condition.

What to pay

Due to the fact that the Ferrari 308 production numbers are quite high, there are a lot of good examples to choose from. Also, a lot of really rough cars you should stay away from. The Ferrari 308 suffered from a period of relative obscurity when it was overshadowed by newer and faster models. This means that some examples were abandoned, crashed, neglected, parted out, and so on. There are still reports of “barn finds” 308s, which were parked sometime in the ’80s and forgotten. As cool as it is to own such a car, we suggest you stick to well-maintained cars that are in full working condition and ready to be driven because restoring any classic Ferrari is a costly and stressful process. 

Currently, prices for roadworthy Ferrari 308s start at around $50,000 and go all the way to the $100,000 mark for best examples. The good thing is that there were over 12,000 Ferraris 308 made during its 10-year production run, so interested enthusiasts can easily shop around for a perfect car. At the same time, prices are affordable to a much wider audience.

That means the only question you need to ask yourself is, do you want to buy another well-optioned but dead-boring full-size SUV, or you wish to park an iconic ’70s Ferrari, with a screaming V8 engine and Magnum P.I. credentials in your driveway and be the envy of the whole neighborhood? 

Yes, we want the red with tan interior, too.