Ferrari 360 ( Meridian Modena)

[PeterGadsby]

Hi,
I’ve been thinking about getting a Ferrari 360 as my first Ferrari ( I previously had a Maserati Gransport MC Victory) bought from meridian Modena.

I’ve seen this 360 at meridian. Modena that seems to have been on the market for a while.

https://lyndhurst.ferraridealers.com/en_gb/search-...

Is there any reason why it hasn’t sold up to now?

Should I consider this one?

Many thanks

Pete Gadsby

[DjSki]

It wasn't actually at the site when I popped in a couple of months ago, asked to see it, was told it was "at the store".

So if you go see it call ahead.

I didn't find them too helpful.

[Roof down]

That’s a lot of money

[PeterGadsby]

Ok. - thanks for the replies what is the typical value for one of these? As someone has mentioned it’s a bit pricey

Cheers

Pete Gadsby

[Roof down]

In all honesty F1 2001, above average miles for a Ferrari, I would not see it at any more than 45/50k

[Roof down]

In all honesty F1 2001, above average miles for a Ferrari, I would not see it at any more than 45/50k

[jtremlett]

PeterGadsby said:

Ok. - thanks for the replies what is the typical value for one of these? As someone has mentioned it’s a bit pricey

Cheers

Pete Gadsby

Since it is a Ferrari main dealer the asking price is about what I'd expect - although given it has been for sale for a while and the market is slow a bit of hard negotiation would certainly be required if you wanted to go for it.

Having not seen the car personally I don't know of any particular reason why it hasn't sold other than that red cars will generally sell more easily, although personally I think the blue looks much nicer.

I believe Meridien sold it to the last owner in March 2017. The asking price then was £69,995 and it has done 3k miles since.

[PeterGadsby]

Ok thanks, when I’m back from holiday I’ll give them a call. I assume as it’s been for sale for awhile there maybe a deal to be done

- Pete

[BlackR8]

I think the interior combo may be a reason why it hasnt sold yet, as for me whilst i like the exterior colour I am not sure I could personally live with that interior.

[PeterGadsby]

BlackR8 said:

I think the interior combo may be a reason why it hasnt sold yet, as for me whilst i like the exterior colour I am not sure I could personally live with that interior.

Ah ok - have to say I liked the interior and the outside colour. The only thing I wasn’t sure about was the F1 gearbox as I had it my Maserati and it wasn’t that great. Would certainly prefer a manual.

- Pete

[drcarrera]

Personally I love that colour combo and the spec looks good (apart from the gearbox!).

However, you say you'd prefer a manual so my advice would be - don't buy it! Wait until you find a suitable spec manual. You don't want to be driving it whilst all the time thinking "I wish I had a manual"....

[4rephill]

PeterGadsby said:

Ok. - thanks for the replies what is the typical value for one of these? As someone has mentioned it’s a bit pricey

Cheers

Pete Gadsby

Not trying to be funny here, but you're looking to buy a Ferrari and you don't know what the market values are?

You need to study the market before you buy one! (and I'm not talking about a quick browse one evening, you need to get a proper feel for what the cars are worth)

Roof down said:

That’s a lot of money

Agreed

It's being sold through a Ferrari dealership so they've added £5K~£10K onto the price. It should come with a better warranty than pretty much every non-Ferrari dealership car, but it would be hard to justify spending that much extra for it.

Roof down said:

In all honesty F1 2001, above average miles for a Ferrari, I would not see it at any more than 45/50k

£45K~£50K for a 30K mile RHD 360 in good/excellent condition? - Good luck with that mission!

Do a search of 360's on Pistonheads right now, with a max price of £50K, and you'll come up with a single LHD car with 34K miles on the clock.

Bump the price tag up to £60K, and you'll find an additional LHD car with 20K miles on the clock.

The first RHD 360 with 30K miles or below, is a private sale, 29K miles, for £60,995

Go to Ebay with your £50K and you'll find a single RHD 360 available - with 64K miles on it.



PeterGadsby: I wouldn't worry about 30K miles being "above average" mileage for a Ferrari - It's not about to blow up or fall apart any time soon due to being completely worn out! (And it's not exactly a high mileage car either - In 18 years, it's averaged 1666 miles per year!)

One of the worse things you can do with a Ferrari (especially an older Ferrari), is to not drive it. They were never designed to just sit around looking pretty - It doesn't do them any favours whatsoever. They ideally need to be driven at least once a week, for a good 50+ miles, to get everything up to temperature, and blow the cobwebs out the car (naturally with older cars, weather permitting).

At the end of the day, Ferrari's were born to be driven.

Years ago, someone told me:

"There are two types of people who have Ferrari's: Ferrari owners, and Ferrari drivers. Ferrari owners spend their time worrying about how much their car is worth, and rarely drive them because of the effect that putting more miles on the car, will have on it's value. Ferrari drivers on the other hand, don't worry about the mileage, or the value of the car, they simply drive their cars every chance they get, and enjoy them as Enzo Ferrari intended!"

Personally speaking, I'd rather be a Ferrari driver, than just a Ferrari owner, so my 348TS got driven, a lot!

As I say though, study the market, to get a good idea of what the cars are worth, and be aware that right now, the values of all the "affordable" Ferrari's are starting to slip back down again (but not to the point where you will find a RHD 30K miles 360 for £45K~£50K )

[Taaaaang]

I was considering this car over a year ago as a nice cheap entry into the Ferrari world.

The dealer was so unhelpful via email I ended up at Bham and eventually found myself in a 458 at 2.5x the cost.

Not sure it was a good deal for either of us in the end haha

[supersport]

4rephill said:

PeterGadsby said:

Ok. - thanks for the replies what is the typical value for one of these? As someone has mentioned it’s a bit pricey

Cheers

Pete Gadsby

Not trying to be funny here, but you're looking to buy a Ferrari and you don't know what the market values are?

You need to study the market before you buy one! (and I'm not talking about a quick browse one evening, you need to get a proper feel for what the cars are worth)

Roof down said:

That’s a lot of money

Agreed

It's being sold through a Ferrari dealership so they've added £5K~£10K onto the price. It should come with a better warranty than pretty much every non-Ferrari dealership car, but it would be hard to justify spending that much extra for it.

I agree with everything you have said, but this bit seems a little odd given what you then said below. The car linked is £65K with 30K miles on the clock so seems quite well priced to me and fits with what you said next.

Given that it should have a good warranty with it, it doesn't seem so bad.

I love TDF and is my ideal colour choice, so had come up on my radar, and with prices falling back a bit at the moment, didn't seem so bad.

4rephill said:

Roof down said:

In all honesty F1 2001, above average miles for a Ferrari, I would not see it at any more than 45/50k

£45K~£50K for a 30K mile RHD 360 in good/excellent condition? - Good luck with that mission!

Do a search of 360's on Pistonheads right now, with a max price of £50K, and you'll come up with a single LHD car with 34K miles on the clock.

Bump the price tag up to £60K, and you'll find an additional LHD car with 20K miles on the clock.

The first RHD 360 with 30K miles or below, is a private sale, 29K miles, for £60,995

Go to Ebay with your £50K and you'll find a single RHD 360 available - with 64K miles on it.

[Roof down]

Say what you will folks, but nothing is moving, cars remain unsold, ok maybe the mileage is not bad , but it’s still 10K over priced.
Buy it and try and resell it, you’ll soon find out it’s current true worth/ value.
We all want our Ferrari’s to be worth a fortune, but alas in the real world, they are only worth what someone is willing to pay. Fact

[Candellara]

Roof down said:

Say what you will folks, but nothing is moving, cars remain unsold, ok maybe the mileage is not bad , but it’s still 10K over priced.
Buy it and try and resell it, you’ll soon find out it’s current true worth/ value.
We all want our Ferrari’s to be worth a fortune, but alas in the real world, they are only worth what someone is willing to pay. Fact

Agree. Market is deflating & very few cars are selling. Wait this out IMO and see where we're at at the end of this year, early next.

I remember speaking with Maranello when i decided to part with my 360CS - got bid just 70k :-(

https://www.pistonheads.com/gassing/topic.asp?h=0&...

[supersport]

Candellara said:

Agree. Market is deflating & very few cars are selling. Wait this out IMO and see where we're at at the end of this year, early next.

I remember speaking with Maranello when i decided to part with my 360CS - got bid just 70k :-(

https://www.pistonheads.com/gassing/topic.asp?h=0&...

That is my plan

[jtremlett]

Candellara said:

Agree. Market is deflating & very few cars are selling. Wait this out IMO and see where we're at at the end of this year, early next.

I remember speaking with Maranello when i decided to part with my 360CS - got bid just 70k :-(

https://www.pistonheads.com/gassing/topic.asp?h=0&...

I don't agree. You would never buy anything and never have to opportunity to enjoy it if you spent your life waiting for the market to get to where you want it. Enjoy life today you might be dead tomorrow.

[andyman_2006]

Just to confirm this car is not sold with a Ferrari warranty, its being sold with an aftermarket warranty.

I have enquired about it a couple of weeks ago, its also not in immaculate condition (salesman's words!) and after getting some additional pics emailed over there is wear to the seat bolster and piping driver side, a fair few stone chips on the front bumper/valance - not the end of the world, but suspect it is as far as 'Ferrari approved used' is applied, maybe they dont want to bring it up to scratch.

Its mechanically sound i was told, and it will get what it needs from that perspective prior to sale.

Price wise, well its not overpriced is it, and 30K miles being too much seems utter madness to me for a car that nearly 20 years old.

The days of the £40K 360 went back in 2008, sure stuff isnt selling but a good 360 is £60K+ from what i've found.

One reason a lot of these 360's are hanging around is the F1 box, very few manual cars for sale, most manual cars are pushing F1 430 prices, and thats a far better car allround.

I wish the OP well, as its been for sale a while there could be a deal to be done, especially if your cash buying, that said after a discussion on the car and lots of queries from me, they did seem very keen to push me into a financed 458 rather than cash buy their 360...maybe its on SOR who knows, the discussion for me fell apart around trying to do a px, not that i was surprised.

Car must be worth a look in the flesh (if unlike me your nearer and not 250+ miles away)

Andy

[davek_964]

andyman_2006 said:

The days of the £40K 360 went back in 2008, sure stuff isnt selling but a good 360 is £60K+ from what i've found.

I have a feeling I've made a similar reply once before - but your dates are a good 5 years out. Ferrari prices were low - at least for 348s and 360s - a lot more recently than that.
Whether this car is over-priced or not, I don't know - F1 and "not red" certainly limit the price ceiling a bit. Given the softening of prices over the last year or two, I don't think I'd pay that for it.