Only Going Up: 1992 Ferrari 348

There’s a characteristic of old sports car that keeps getting tossed around, much like the “patina” word in muscle car circles. And that’s the idea of a car being “analog”, or “pre-driving aids.” There’s this tendency to push the timing of when driver aids became the norm back farther and farther to the point that anything made after 1995 is no longer sufficiently analog. Compared to what passes for normal now, the last truly analog cars came out in the early 2000s, so models like this 1992 Ferrari 348 are the last of the preceding era of sports car building, which I more associate with Porsche 930s and Buick Grand Nationals. This 338 is listed here on eBay for an asking price of $62,500.

I also think there’s a generational gap happening where people below a certain age consider anything that doesn’t have a touchscreen interface “analog.” Let me tell you, when I bought a 2003 BMW 330i ZHP in 2010, I found that car’s electronic stability control so intrusive I sold the car and bought a 1995 BMW M3. The difference between those two models were night and day, especially with the M3 relying on a traditional mechanical limited-slip to keep it straight when it got slippery. The 348 shown here is much the same, with little in the way of corrective software to save you if the rear end snaps out.

The 348 may not be the true last of the analog Ferraris, but it’s definitely one of the more affordable V8 mid-engine cars on the market today. Interestingly, the 348 was never as maligned as the Mondial which was forever seen as the lowest of the low on the Ferrari totem pole, but the 348 has stayed reasonably affordable compared to other manual transmission Ferraris. The transmission is really the catch here, as a Ferrari with three pedals and a gated shifter is indeed an extinct species when looking at the modern lineup. The 348 offers all of the classic Ferrari qualities in a slightly less exclusive wrapper compared to the likes of the F40 and Testarossa.

Like most mid-engined Ferraris, these cars require an expensive engine-out service to replace belts and other consumables. The seller confirms he had this work done about 5,000 miles ago, with the 3.4L V8 showing just under 50,000 miles today. When new, it pumped out a healthy 300 horsepower and can reach 60 in about 5.6 seconds. The seller has added a Tubi-style exhaust and aftermarket wheels, but I’d swap the original alloys back on before too long; these look too big for the short wheelbase car. The 348 will someday be a six-figure car, in my opinion, so get one now while prices are safely below $100K.