Out of all the cars I've seen over the years this one made the biggest impression on me, even though I saw it a million times on photos the car looks a lot different in person, from the back it looks like its wider than longer, and it is super low without the crazy 5/16th of an inch ground clearance you see on some modified cars.

The swap might not work since this car has a boxer aka flat V12, I think they did it purely to keep the roof line so low, successor did not seem that low.

What should you do? keep it stock! any type of engine swap will bring the value down to "kit car" levels. sign into a ferrari 512 forum, tear it into pieces, bathe it in WD40 and keep us posted!!!

 

Buy a Fiero/Testarossa kit car and switch the titles.

 

Haha, that's a good one

 

Testarossa's aren't 512s. Pretty sure it's a V-12

 

If you can find someone on this end, have them pickle it.
Fill the engine and cylinders completely with diesel, turn it over by hand a few times. The diesel absorbs the water and shuts down corrosion. It's worked on lots of sunk boat motors.

 

For the future..............
The Testa Rossa engine is an interference engine, meaning that if the timing belt breaks, then the pistons will hit the (48) valves.
Now the factory maintenance guide says that the timing belt must be changed at very short intervals (I think 20,000 miles) BUT the US REQUIRES that any "emissions equipment" must last for 50,000 miles, so the US version of the owner's manual says to change the timing belt at 50,000 miles.
This IS an issue, because the timing belt is on the cockpit end of the engine, requiring the engine to be removed to replace the timing belt. This R&R plus belt costs $10,000. However, bending some of the 48 valves costs more than that....so you need to factor the maintenance costs of owning your new car into the pleasure that it gives you

 

Oh yes, I figured it out already. Will see how it goes when I get the car. Pretty sure, that I will not let it go. Just checked some TR's for sale here in Europe and the cheapest one (on a tow truck, after a major crash) still cost twice as much as mine

 

In fact, it is flat 12.

 

It's called a 512 because it's 5 liters and 12 cylinders (a 308 is a 3 liter, 8 cylinder car).

 

Sell it for parts as is you will make more money than if you try to fix it. Major money for simple repairs big repairs off the charts just for the parts if you can do the work yourself. I used to work on ferrari's its not any fun.
Mark

 

Doesn't look like the water got very high at all by the pics.
If below the tranny vent, then you're in pretty good shape mechanically.
Doesn't look like water was even up to the shift console.

You might be in great shape.

 

And if it wasn't running at the time chances are there will be very little water in the oil. Its the running ones that drive into high water that end up sucking up a lot of water. Unfortunately sitting isn't helping. The sooner you get the water out the better.

 

this

 

Sell it to me

 

We had dyno days here in town. I have never seen a ferrari in iowa coty before. A guy was there with his F40. I have always lusted afte those cars and could not believe I was standing next to one, I was talking to the owner when the dyno guy said they could not run it because it was too low to strap down. He paused and said " I'll go get my testarossa. Sure enough he came back with a 512.
He ran it on the dyno. I think he hit 140 in second gear if I remember right. I was standing beside the drivers door when he did the run. He laughed and said Ferrari owners have a joke that they can break any speed limit in the u s in first gear. Don't know if that is still true since they raised them some since then.
We were looking at the engine.. Which is pure car ****.. And the dyno guy asked him now big the engine was.. Oddly enough he did not know. I told him it was a five liter. He said really? I told him 5 Liters, 12 cylinders, testarossa.. 512 TR. he laughed.
Anyway I had read that the cam belts needed changing fairly often in the testarossa and it was a major expense since they are up against the firewall and you have to tear the car down to do it. I asked him about it and he said there is a guy in Chicago that will do it for five grand. Ouch. I guess that is cheap.
Great car though.
Btw the Daytona they used on Miami vice was a 1980 vette. Or so it is claimed.

 

www.ferrarichat.com

Lots of folks there willing to help.

 

Copart is on Long Island and they auctioned the cars that were totaled out by the insurance companies after super storm Sandy which was the end of October. Almost all of these cars were salt water flood cars that the insurance companies deemed too expensive to fix. Good luck with your Ferrari and lets us know how it goes.

 

Some people just don't think like that.

With this car you'd basically have to have the know how or be ready to drop some major bucks just to pull the engine.

The flood history hurts the value, so having a well done drivetrain swap may actually help. Go with an LSx swap.

Here's one done in a 360

 

Cool. I love Ferrari's...

 

wrong and wrong

512TR/M was a slight update to the testarossa (1992-1996)

both use flat 12's

source http://en.wikipedia.org/wiki/Ferrari_Testarossa

(yes, 512's are included there because its the same[ car