We bought a £37,000 Ferrari F355

I bought a Ferrari 355 F1 for just £37,000 – but there’s a reason it was so cheap. This Ferrari has been off the road for nearly 20 years, it's partly dismantled, bits are missing and much of the car arrived in boxes. The plan is simple: rebuild it ourselves and find out whether I've bought the bargain of a lifetime… or made a very expensive mistake. The Ferrari F355 has been my dream car since childhood. I first saw one at the London Motor Show when I was seven and later, as a teenager, it became the first Ferrari I ever sat in. Good F355s are now well beyond what we wanted to spend, so instead we've gone in completely the opposite direction. This 355 F1 Berlinetta was advertised on Facebook Marketplace for £48,000. It's a former Category D car, hasn't been on the road for around two decades and has been partially dismantled. After seeing just how much work it needed – and discovering some supposedly included parts were missing – we eventually agreed a price of £37,000. Now we need to find out exactly what we've bought. The engine bay is partly dismantled, the radiators are missing, the fuel tank and exhaust have been removed, parts of the intake system are in boxes, the interior is filthy, the wheels need restoring and we're still trying to establish whether we actually have everything required to put the car back together. Over this series we'll document the entire Ferrari 355 rebuild: getting it running, engine-out servicing, finding the missing parts, repairing the F1 gearbox system, suspension, brakes, interior, bodywork and ultimately getting it back on the road. We'll also keep track of exactly what it costs. Can a £37,000 Ferrari 355 actually make financial sense, or should we have just bought a good one in the first place? Subscribe to follow the rebuild. I'm Lewis Gregory, one of the people behind iGNiTiON. We buy, drive, fix and occasionally break interesting cars, with a particular weakness for old Ferraris and Italian machinery. #Ferrari #Ferrari355 #F355