Ferrari 348 (1994)

Estimated running costs and MOT pass rates from 156 MOT tests in 2024.

Annual Cost

£2,588

£216/month

MOT Pass Rate

96%

Excellent

Road Tax

£375

Estimated/year

Est. Insurance

Grp 35-50

3405cc Petrol

Great Choice

96% pass rate, £2,588/year to run. 14 points above average.

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Petrol3405cc32 years old156 tests37k miles avg

Annual Running Costs

Fuel (Petrol, 3405cc)

~30 mpg

£1,958

Road Tax

Pre-2001 engine size rate

£375

MOT Test

£55

Predicted Repairs

Low estimate due to excellent reliability

£200

Total per year£2,588

Per month£216/mo

Per week£50/wk

Estimates based on 7,400 miles/year (UK average), petrol at 174.57p a litre (GOV.UK weekly average, week of 19 October 2026), GOV.UK road tax rates and repair likelihood from MOT data. Insurance not included.

Reliability Verdict

96% MOT pass rate(Excellent)

0%All-model avg: 82%100%

Excellent reliability. Very few MOT failures. That's 14 points above the average of 82% across all models in our data.

96% of MOT tests on Ferrari 348s from 1994 ended in a pass in 2024, when they were about 30 years old. That's based on 156 tests across the UK, retests included. The average mileage recorded at those tests was 37,112 miles.

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How Does It Compare?

Rank among 1994 models4th of 204(top 2%)

Rank among Ferrari models95th of 146(bottom half)

vs average of all models+14%(82% avg)

vs 1994 models average+20%(76% avg)

vs Ferrari average+0%(96% avg)

Mileage Analysis

37,112

Average miles

222,000

Expected for age

The average 1994 Ferrari 348 had 37,112 miles on the clock at its 2024 MOT, which is significantly below the expected 222,000 miles for a 30-year-old car. Low-mileage examples may have spent time sitting unused, so check for issues like corroded brakes or perished rubber seals.

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Best Year to Buy?

Of the years with at least 100 tests, the 1992 model has the highest MOT pass rate at 100%, while the 1993 model has the lowest at 91%. The 1994 scores 96%. Newer cars usually pass more often simply because they are younger, so compare years of a similar age.

Ferrari 348 by Year

Year	Pass Rate	Tests	Avg Mileage
1994	96%	156	37,112 mi
1993	91%	108	37,393 mi
1992	100%	101	44,800 mi
1991	97%	133	37,145 mi
1990	97%	116	44,170 mi

Similar Cars to Consider

Porsche 911

1996 · 3600cc Petrol

£2,588/year

91%

-5%

Mercedes E

1995 · 3606cc Petrol

£2,888/year

79%

-17%

Mercedes 300

1992 · 2996cc Petrol

£2,738/year

83%

-13%

Porsche 968

1994 · 2990cc Petrol

£2,738/year

88%

-8%

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About the 1994 Ferrari 348

The 1994 Ferrari 348 is a luxury car. Our records list a 3405cc petrol engine, though engines vary between versions. 156 MOT tests were recorded on this model in 2024, making it a rare model on UK roads. It ranks in the top 2% of all 1994 models for MOT pass rate.

With an average of 37,112 miles recorded at its 2024 MOT tests, Ferrari 348 owners tend to use this car less than the typical driver. Very low mileage could mean the car has been garaged or used only for short trips, which can cause its own issues like battery drain and moisture buildup.

1994 Ferrari 348 Fuel Costs

The 3405cc petrol engine is on the larger side, so fuel won't be this car's strong point. Expect around 30 mpg in mixed driving, which works out to roughly £1,958 per year with petrol at 174.57p per litre (GOV.UK weekly average, week of 19 October 2026; based on 7,400 miles per year).

What does it cost to own a 1994 Ferrari 348?

Total estimated annual running cost is £2,588 (£216/month), broken down as £1,958 fuel, £375 road tax, £55 MOT, and £200 predicted repairs. The low repair estimate reflects the excellent 96% pass rate. These cars rarely fail their MOT, so unexpected bills are less likely.

Ferrari 348 Reliability Trend

The Ferrari 348 has maintained consistent MOT pass rates across model years, varying by only 1 percentage point.

Buying a Used 1994 Ferrari 348

At 32 years old, the Ferrari 348 is firmly in budget territory. Purchase prices are low, but check for rust, worn suspension bushes, and electrical gremlins. A full service history is especially valuable at this age. If you're flexible on year, the 1992 model has the highest pass rate at 100%.

Common Issues to Watch For

These are typical issues for cars of this age, fuel type and engine size, not faults recorded on this model's MOT tests. Use them as a checklist when you view one.

Timing Chain / Belt

Watch out

At 32 years old, check whether the timing belt has been replaced (typically due every 5-7 years or 60,000-100,000 miles). A snapped belt can destroy the engine.

Oil Consumption

Medium risk

Larger petrol engines can develop higher oil consumption as they age. Check the oil level and look for blue smoke from the exhaust.

Rust and Corrosion

Watch out

At 10+ years, check wheel arches, sills, subframe, and brake lines for rust. Structural corrosion is an MOT failure. Prevention is far cheaper than repair.

Suspension Bushings

Watch out

Rubber suspension bushes harden and crack with age, causing knocking noises and vague handling. A full refresh costs £300-£800 depending on the car.

Service History

Low risk

Always request a full service history. Regular servicing is the single best indicator of how well a car has been maintained, regardless of mileage.

Running Costs Compared

How the 1994 Ferrari 348 stacks up against similar cars for estimated annual running costs, insurance group, and tax.

Car	Pass Rate	Fuel/yr	Tax/yr	Est. Ins. Group	Total/yr
Ferrari 348(1994)	96%	£1,958	£375	Grp 35-50	£2,588
Porsche 911(1996)	91%	£1,958	£375	Grp 35-50	£2,588same
Mercedes E(1995)	79%	£1,958	£375	Grp 35-50	£2,888+£300
Mercedes 300(1992)	83%	£1,958	£375	Grp 30-42	£2,738+£150
Porsche 968(1994)	88%	£1,958	£375	Grp 30-42	£2,738+£150

Estimates based on 7,400 miles/year, GOV.UK average pump prices for the week of 19 October 2026, GOV.UK road tax rates and MOT data. Insurance groups are our rough estimate from engine size, not official groups. Actual costs vary by driver, location, and usage.

Questions about the 1994 Ferrari 348

Is the 1994 Ferrari 348 reliable?

Excellent reliability. Very few MOT failures. 96% of MOT tests on 1994 Ferrari 348s ended in a pass, from 156 tests (DVSA MOT data for tests in 2024, retests included). That's 14 points above the average of 82% across all models in the same data.

How much does a 1994 Ferrari 348 cost to run?

Our estimate is £2,588 a year (£216 a month): £1,958 fuel, £375 road tax, £55 MOT and £200 predicted repairs, based on 7,400 miles a year. Insurance is not included.

What is the MOT pass rate for a 1994 Ferrari 348?

96% of 156 MOT tests on the 1994 Ferrari 348 ended in a pass (DVSA MOT data for tests in 2024, retests included). That ranks it 4th of 204 models first registered in 1994 (top 2%).

Which year Ferrari 348 has the best MOT pass rate?

Of the years with at least 100 tests, the 1992 Ferrari 348 has the highest MOT pass rate at 100% and the 1993 the lowest at 91%. Newer cars usually pass more often simply because they are younger and have done fewer miles.

What is the average mileage for a 1994 Ferrari 348?

The average mileage recorded at MOT tests on the 1994 Ferrari 348 is 37,112 miles, which is significantly below the expected 222,000 miles for a 30-year-old car. Low-mileage examples may have spent time sitting unused, so check for issues like corroded brakes or perished rubber seals.