In 2023, there’s really no such thing as a cheap Ferrari. 20 years ago, you could get a Testarossa for next to nothing. With the “cheapest” new Ferrari in 2023 starting at around £164,000 (in Great Britain), “cheap” is not exactly the word! However, this doesn’t mean that you can’t find exciting Ferraris on the used-car market for a reasonable amount of money. Here are 5 of the cheapest and lesser-known Ferraris money can buy. Let’s get started.

Ferrari 348

Slotted between the classic Ferrari 328 and the F355, the Ferrari 348 is a mid-engine, V8-powered sports car. Its wedge profile and side vents gave it a similar look to the Testarossa, although on a smaller scale. With a 3.4-litre V8 and 300 and 325 horsepower, the 348 was capable of reaching 60 mph in 5.5 seconds and a top speed of over 174 mph. Ferrari made over 8000 of them throughout a six-year production span, but you can pick one up today for around £40,000.

The 348 came as a coupe, convertible, or Targa-top although the convertibles are a bit more expensive for some reason. Although Ferrari connoisseurs prefer the F355 over the 348, these two cars are actually pretty similar. The 348 looks like better value in my books.

Ferrari 456 GT

The last car that Enzo Ferrari personally approved before his death in 1988 was the project Type F116, which eventually became the 456 GT. This is a classic Ferrari GT car with a large 5.5-litre V12 upfront, a comfy interior, and space for four passengers and their luggage. The 456 GT was designed to cross continents rather than be a drag racer, but it is an immensely capable and rewarding car to drive. With a 0 to 60 mph time of just over 5 seconds and a top speed of almost 180 mph, the 456 GT still commands respect.

Today, all current Ferrari models are automatics, but in the early `90s, the only model which could be had with an automatic transmission was the 456 GT. If you’re into elegant styling and or naturally aspirated V12s, you’ll be glad to know that the prices for a 456 start at around £35,000. Look for a manual, though; it is more engaging to drive.

Ferrari Mondial

Ask any Ferrari fan what the least desirable and unloved Ferrari model is and you will get a unanimous answer – the Mondial. Introduced in 1980 and sold through 1993, the Mondial was an entry-level model, sold as a coupe or convertible, in several different versions. To be honest, the Mondial looks a bit restrained compared to other cars from the era, and its performance isn’t great either, but it’s still a handsome car with a V8 engine and decent power output.

All of this makes the Mondial a perfect starter Ferrari if you like the `80s Miami Vice vibe. If this description tempts you, prices start at around £35,000. Not a small amount for a car which is universally unloved but you can’t complain too much. It’s still a Ferrari!

Ferrari 360

Introduced in 1999 and sold until 2004, the Ferrari 360 was one of the best modern sports cars of the time. It featured a 400 HP V8 engine, a much-improved chassis and suspension compared to its predecessor, the F355, and fantastic performance for the era. At 4.6 seconds to 60 mph and a 183 mph top speed, the 360 is still impressive even after almost 20 years.

In just five years, Ferrari made nearly 18,000 examples, which makes the 360 relatively common and affordable (for a Ferrari). Prices start from around £45,000 for models equipped with the jerky F1-style automatic gearbox, but if you can, find a manual example. Sadly these are more expensive but for a lot less than £70k, you can get a perfect one. The 360 is also recognized as one of the first “reliable” Ferraris, which is a bonus.

Ferrari 208 GTB & GTS

If the Ferrari Mondial is considered to be the least desirable Ferrari ever made, the 208 GTB/GTS is certainly the slowest. Introduced in 1980 and sold until 1985, the 208 was the base version of the 308 GTB series but featured tiny a 2.0-litre V8 rated at just 155 HP. The cars looked like proper Ferraris, but they were so slow that the factory that after only a year on the market, Ferrari introduced a turbocharged version with 220 HP.

Although this was a significant upgrade, the 208 GTS & GTB were still below the usual standards of the brand, which is why Ferrari only sold a couple of hundred cars before discontinuing the model in 1985. Today, you can pick one up for around £50,000 and even though performance is still disappointing, they’re slowly starting to rise in value due to their rarity and quirkiness.