My wife has decided she wants a Ferrari 355. Her decision was made when I pointed out that the BMW 535 diesel that we own cost more money (£38,000) than the beautiful second-hand Ferrari 355 (£35,000) that had just streaked past us, exhausts howling, on the dual carriageway.

I also mentioned that the Ferrari would still be worth about £30,000 in three years’ time while the BMW would be worth closer to £20,000.

“The Ferrari is a bargain,” she said, and I had to agree. Launched in September 1994, the 355 was a huge step forward for Ferrari. At about £83,000 it cost barely more than the outgoing 348 model but was quicker, more powerful and better looking.

Under the skin the 355 had an all new monocoque, which made it stronger and more rigid. Power came from a larger 3.5 litre V8 engine with, for the first time in a production Ferrari, five valves per cylinder. With 375bhp and a kerb weight of just 2,846lb, the performance was blistering: 0-60mph in just 4.6sec and on to 100mph in 10.8sec.

It was available as either a fixed-head coupé, the Berlinetta, or as a Targa with a removable roof panel that can be stowed behind the front seats. Second-hand Targas cost about £1,500-£2,500 more than the Berlinetta. Purists say they prefer the extra rigidity of a fixed roof but in reality the differences are minor.

In September 1995 a Spyder joined the line-up. At around 130lb heavier than the Berlinetta the convertible feels fractionally less focused on the road, but potential owners should worry less about that than checking the hood operates correctly and that there is no sign of damage around the wear points or leaks around the seams. A used Spyder will cost £5,000 more than an equivalent Berlinetta.

In 1997 the 355 gained the option of an F1 “automatic” gearbox to supplement the six-speed manual. It allowed drivers to change up or down via two paddles on the steering column and to move through the gears more quickly than with a standard manual box. At about £6,500 it was not a cheap option but it was popular.

No Ferrari, including the 355, is cheap to run. Regardless of how many miles you cover it will require an annual check-up to change oils and fluids, which will cost £700. A “proper” service, due every 12,500 miles, will cost about £1,200. You will also need to change the cam belts every three years, regardless of mileage, and that costs an extra £1,200.

That’s not all. Exhaust catalysts (and there are two) cost about £1,000 each and the two exhaust manifolds can be prone to cracks, which will cost £2,000 per side. You will also need a new set of tyres every 6,000 miles at £1,000 a set and that lovely Italian leather upholstery could do with being spruced up every 12 months at a cost of about £200.

None of this I mentioned to my wife. But then owning a Ferrari is not merely about buying a car — it is about becoming custodian of a motoring masterpiece. Long after the large service bills, heavy fuel consumption and hefty insurance premiums have faded, the memory of the 355’s surging power, intoxicating engine note and breathtaking beauty will remain.

Ride Computer-controlled suspension produces superb handling and reasonably supple ride

Gearbox Standard six-speed manual is one of Ferrari’s best. Optional F1 gearbox adds £2,500 to second-hand values

Accident damage Ferrari keeps a register of damage repaired via official Ferrari body shops. A call to it with the chassis number should reveal any nasty surprises in the history

Engine Pre-1996 cars had twin air box intakes, which produced better engine note and crisper performance. Later cars changed to single air box to improve emissions

Timing belts Must be changed every three years regardless of whether any mileage has been covered

Steering Variable-weight power steering feels superb, although some owners took the factory option of no power steering

Headlamps Standard bulbs are relatively weak but upgraded bulbs can be bought for £50-£150 each

ABS Standard on all cars and can be deactivated by the driver

Service history Must be complete, original and supported by all invoices, otherwise walk away

VITAL STATISTICS

Model Ferrari 355 Berlinetta
Engine 3496cc V8
Power 375bhp @ 8250rpm
Transmission Six-speed manual
Fuel n/a
Acceleration 0-60mph: 4.6sec
Top speed 183mph

THE ONE TO BUY

A 1994 M registration rosso red Ferrari 355 Berlinetta with crema hide, full service history and 30,000 miles on the clock. Pay £34,250 from a dealer or £31,000 privately

OR FOR THE SAME MONEY…

1992 J Bentley Continental R coupé

1996 N Porsche 911 Carrera 4 Turbo

1999 V Aston Martin DB7

2002 52 Maserati 4200 GT coupé

VALUES

Source: estimates based on confidential CAP black book prices. ‘Trade’ is what a dealer would pay to buy your car; ‘Retail’ is what you would pay a dealer

Jason Dawe @ timesonline.co.uk

• Berlinetta
• GTS
• Spyder
• Challenge
• Serie Fiorano

At launch, two models were available: the coupe Berlinetta, and the targa topped GTS. The Spider (convertible) version was introduced in 1995. In 1998 the Formula One style paddle gear shift semi-automatic transmission was introduced with the Ferrari 355 F1 (note the dropping of the F before the 355) adding £6,000 to the dealer asking price.

In 1995 Ferrari introduced a race ready F355 Challenge model for use specifically in the Ferrari Challenge. The Ferrari F355 Challenge shares the exact same performance and dimension specifications as the original; Ferrari simply added racing seats, a downforce wing, and a roll cage. 109 were produced. Each F355 Challenge has an emblem on the rear which specifically denotes ‘F355 Challenge’.

To signify the end of the 355 model Ferrari built 100 units with the designation ‘Serie Fiorano’, the car was introduced in Geneva Salon 1999 together with new 360 Modena. These variants are slightly lower than the standard model with a special handling package and remapped fuel chip. Serie Fiorano cars are Spiders and can easily be identified by the numbered plaque on the dashboard.

The Ferrari F355 is a sports car built by Ferrari from May 1994 to 1999. It is an evolution of the Ferrari 348 and was replaced by the Ferrari 360. It is a mid-engined, rear wheel drive V8-powered 2-seat coupe. One major difference between the V8 in the 348 and that in the F355, apart from the displacement increase from 3.4 to 3.5 L, is that the F355 features a 5-valve per cylinder head and that it was considerably more powerful, producing 380hp (SAE). Like its predecessors and descendants, the F355 is a fairly common car (for a Ferrari) with 11,273 units produced.

Manufacturer Ferrari
Parent company Fiat Group
Production 1994–1999
Predecessor Ferrari 348
Successor Ferrari 360
Class Sports car
Body style(s):

• Berlinetta
• Targa top
• Spider

Layout RMR layout
Engine(s) 3.5 L 5V V8
Transmission(s):

• 6-speed manual
• 6-speed ‘F1′ semi-auto

Wheelbase 2451 mm (96.5 in)
Length 4249 mm (167.3 in)
Width 1900 mm (74.8 in)
Height 1171 mm (46.1 in)
Curb weight 1444 kg (3183 lb)

Jeremy Clarkson buys a Ferrari F355!

Clarkson and his family own or have owned:

• Ford Escort RS Cosworth
• Ford GT
• 1980s Alfa Romeo GTV6
• Lamborghini Gallardo Spyder
• Ferrari F355
• two VW Sciroccos
• Jaguar XJR
• BMW 3.0 CSL
• BMW Z1 (for his wife)
• Toyota Land Cruiser Amazon^[55]
• Honda CRX
• Mercedes-Benz SL55 AMG
• Aston Martin V8 Vantage (for his wife)
• BMW Z4 (for his wife)
• Ford Focus
• Mitsubishi Lancer Evolution X
• Mercedes-Benz 600 Grosser
• an ex-military Land Rover Defender
• Mercedes-Benz CLK-AMG Black Series
• Volvo XC90^[56]
• Caterham Seven R500 (for his wife)

Clarkson reviews Ferrari F355 in Unleahsed on cars.

Brian records a friend in a Ferrari F355. First it is parked and then the engine is started and then reved. Then the 355 accelerates fast down an intersection and it’s Tubi fitted exhaust sounds awesome!