Buying a 360 - advice or comments please :)

[matt911]

Hi,

I am on the brink of buying a 360, and would appreciate any thoughts on the spec/price etc.

The car in question is a late 2000 model, manual gearbox, rossa/crema, it has a stradale rear grill and tubi sports exhaust, its a modena.

The car has done around 31k , which makes it a reasonably priced purchase - viewing the service history the belts have been replaced as has the clutch, and the last major mileage service was only 6 months or so ago.

Physically the car looks very good, the passenger seat leather cold do with a bit of TLC but the dealer will give this a good going over prior to sale. There are no signs of damage and the bonnett has only 1 or 2 stonechips, the wheels are also in good nick and are not badly kerbed.

Test drove the car earlier today, and it was awesome never drove a ferrari of any sort before but the car felt great - and sounded awesome!

The car is priced at £70,950

Any thing i should watch for or comments on the price/spec would be greatly appreciated.

The car is from a official Ferrari dealer (if there is such a thing?) and will have a full ferrari UK warranty.

Thanks in advance

Matt

[Badapple]

Matt,
Is this the price it's up for, or is this after negotiation?
I reckon it's about right for a main dealer looking at current prices, a couple more grand off (stressing the mileage & other points you mentioned) would make it even more attractive.

Here's a couple for sale @ the indys:

www.joemacari.com/99tgialmode360/cardescription.html

www.pistonheads.com/sales/detail.asp?i=34098&s=193

Also try poting this over @ www.ferrarichat.com

Cheers
Phil

[dj kam]

Hi Matt,

only comment I'd make is that you should quite easily get the dealer to sort out the leather and wheels as part of the package.

Part of the ownership experience is having a pristine car and even if the wheels are slightly curbed or leather slightly faded you'll want to sort plus it would be alot nicer to take delivery of a mint example.

[poorcardealer]

That is high mileage for a Ferrari..........the dealer network will bid you right in balls when you come to p/ex it or move it on..........not sure the Ferrari network would retail that car once it has done say 40-45K miles....might be more prudent to find a lower mileage car at a bit more money.will make resale much easier.
My 2p worth

[Davey S1]

poorcardealer said:

That is high mileage for a Ferrari..........the dealer network will bid you right in balls when you come to p/ex it or move it on..........not sure the Ferrari network would retail that car once it has done say 40-45K miles....might be more prudent to find a lower mileage car at a bit more money.will make resale much easier. My 2p worth

I dont think it will matter quite so much given that it is not the current model anymore. Ferraris tend to get used more the older they become as they fall into price brackets that proper enthusisats can afford rather than posers.

It depends how many miles you intend to put on it. If its only for summer / weekend use then go for it.

[456mgt]

Davey S1 said:

poorcardealer said: That is high mileage for a Ferrari..........the dealer network will bid you right in balls when you come to p/ex it or move it on..........not sure the Ferrari network would retail that car once it has done say 40-45K miles....might be more prudent to find a lower mileage car at a bit more money.will make resale much easier. My 2p worth I dont think it will matter quite so much given that it is not the current model anymore. Ferraris tend to get used more the older they become as they fall into price brackets that proper enthusisats can afford rather than posers. It depends how many miles you intend to put on it. If its only for summer / weekend use then go for it.

Sorry Davey, while I agree with much of what you say, I think PCD is on the right track in this instance. The issue is not about buying it but selling it on. We're seeing recent model Ferrari with much, much higher mileages than Ferrari of old, and the 360s are leading the charge. About bloody time too, but we're not yet in 911 territory. Dealers will crucify you or it will take ages to sell privately, and will have to be lowballed to sell at all. There are too many 360 to do otherwise. Low mileage is still valued by the average punter

Personally, I think that car would make a superb daily driver, but not at that purchase price; there are just too many lower mileage examples competing for buyers at similar prices. Low 60s max. I'd suggest make a lowball offer and walk away.

[matt911]

Thanks for the feedback guys.

The car would be my daily driver, but i only do around 6k a year as i have a people carrier thing for family tansport.

I would guess that I would keep the car for around 12 months so come chop-in time it would have around 38k, but i don't want to have to reply on keeping below any certain mileage to avoid problems moving the car then.

The car is exactly what i'm after except for the mileage, the colours and spec are spot on (definatly want a red card, as all my otther cars have been silver and i'm getting bored )

The £70,950 was the dealers listed price, though they didnt seem keep to be flexible on this either

another option is spend more (30k more) and get a 360 spider, which tbh is really what i wanted but the lower price of a modena seemed a good way to get on the 'Ferrari Ladder'. or is it a bad time to spend 100k+ on a car that has a new model due soon (even though it may not be available in reality i would guess the fact that a newer model exists would lower the value of the 360?).

Here is the full spec of the car:

ABS, ASR, Air Conditioning, Airbag, Central Door Locking, Climate Control, Dual Airbags, Electric Windows, F1 Paddle Shift Gearbox, Leather Trim, Normal/Sport Gearbox and Damping Settings, Xenon Headlamps , Adjustable Steering Column, Alloy Wheels, CD Changer, CD Player, Immobiliser, Power Steering, Stereo, Aluminium Silver Brake Calipers, Challenge-style Rear Grille (black), Medium Connolly Leather-trimmed Racing Seats, Pirelli Tyres Fitted Ex-factory, Scuderia Shield To Wings. CD Stacker And Racing Seats

They have it listed as F1, but it is manual.

I loved the dirve of the car and cannot wait to get one now, but i don't want to make a bad move now that i will regret later (as it seems i have with the 911, 6 months of ownership will cost me over 20k )

Thanks again for the advice, i may put in a low offer and see if there is any interest.

Cheers

Matt

[athorby]

Hi Matt.

There are cheap, well good value 360 Spiders on this page. No photo at the moment but the price is right..

Best of luck

Ad

[poorcardealer]

Davey S1 said:

poorcardealer said: That is high mileage for a Ferrari..........the dealer network will bid you right in balls when you come to p/ex it or move it on..........not sure the Ferrari network would retail that car once it has done say 40-45K miles....might be more prudent to find a lower mileage car at a bit more money.will make resale much easier. My 2p worth I dont think it will matter quite so much given that it is not the current model anymore. Ferraris tend to get used more the older they become as they fall into price brackets that proper enthusisats can afford rather than posers. It depends how many miles you intend to put on it. If its only for summer / weekend use then go for it.

Unless things have changed dramatically (I used to be a sales manager at a main agent) I think you would be having to sell out of the dealer network when its time to dispose of it.........main problem is the used car preperation costs with the higher miles dtuff.ie the sales dept gets stung for £££sss sometimes making the car unviable to retail........Im not saying the 360 isnt good for the mileage I am sure it would make an ok daily user.

Matt

[matt911]

The dealer did say that they would not be interested in selling the car if it had done over 50k , though i'm sure it would unwise to rely on this information !

There are some good cars on the pages linked to earlier in the thread, but none of them are the right colour (i am dead set on it being red ), if anyone knows of a good 360 in read with crema interior please let me know, would be greatly appreciated!

Cheers

Matt

[mudfish]

You'll love it. I just sold my 360 manual at xmas.
Its not really practical as a daily driver as its such an involving car.

I took a kicking on the re-sale, my pant were shredded. I completed about 6k in my first year and lost about 18k from my pocket in the process, loved every minute of the ownership. Dealers are your best friend at purchase "its investing into a lifestyle", they will undoubtedly be too busy come resale.

My next fezza purchase will probably be a 355 where I can keep it for 10+ years and not take a hit on the value.

[fugatso]

Good work fella! My only advice is buy the damn thing and "drive it like it was stolen!!"

Apologies to No Fear slogan writers.

[matt911]

Hi (again!),

Just spoke to the dealer and they will know 1k from the price, not great im sure but it's something :/

The dealer reckons a 360 with the spec it has will not go below 55k within the next 12-18 months, even with 40k on the clock - does anyone agree/disagree with this statement? i can (just) handle a 15k loss in 12-18 months.

They also just got in a 2000 model in red/creme but it is a F1 and doesnt have sports exhaust/sports seats etc. , this has around 17k on the clock and is up for around 10k more.

Also phoned Verdi. they have got a 03 modena in red/creme with loads of options, but as they ha just got it i couldnt get a price - of course it will be more how does buying from somewhere like Verdi compare to a 'Official' ? my main concerns are warranty issues etc.

Thanks again for all your comments, im still very tempted even though the car may be a bit of a problem come resale - it is just perfect spec

Cheers

Matt

[Jonny5]

Go Verdi any day of the week. Have owned cars from Maranellos & Verdis and IMO, knowledge, value, aftersale service etc. are much superior with Carl Verdi.

Thoroughly nice chap. His cousin owns Scuderia Systems, so would be able to sort you out with a Tubi - should the car not have one.

Doesn't matter where you buy a car, as long as the s/history within the warranty period is done at an official Ferrari dealorship. After this, I always get my work done at independants

Jon



>> Edited by Jonny5 on Wednesday 19th January 14:21

>> Edited by Jonny5 on Wednesday 19th January 14:22

[murph7355]

If you're happy with a 15k knock in 12mths, get the dealer to put that offer in writing and away you go. They'll go more than 1k off, and you should definiitely get them to sort the seats and the wheels.

If they don't budge on price, walk away...

But I think you'd be better listening to the guys above anyway.

There are quite a few 360s on the market (in production terms it's a "common" Ferrari) and there will be more in a few months when the 430 comes on stream.

Wanting a red one barely dints your choice either.

If you're going to be putting some miles on it, go independent or even private, have a good scour round, and try a few cars out. You will get much better value than this, with much less worry.

Warranty? Pants. They cover much less than you expect they do, even when you've read the small print, life becomes a hassle.

You can get warranties from indies too.

Have a chat with Karl and see what you think. I've always found him a thoroughly honest chap who tells it as he sees it, and is always prepared to share his experience. He knows his stuff well and truly.

Knowing what I know now, I would only go near the main dealer network again if I wanted a brand new car (I doubt this will ever happen), or they were the only place I could find a particular car and weren't being silly on the price (ditto).

I know from my own experience that the head tends to disengage when a dream is on the verge of becoming reality. But please do not be swayed by the shininess of the car you've seen and how badly you want it.

Take a bit more time, play hardball yourself and you'll get into an equally great Ferrari and probably have a fatter wallet at the end of the day too!

[MOD500]

I am no Ferrari expert, but as said bid the dealer in the knackers due to the mileage.

Would a 355 be a better bet depreciation wise?

[poorcardealer]

Yes 355 would be better depreciation wise....I think there will be an overlap where the top end of the 355 market will be more expensive than the bottom end of the 360 market (ie Porsche 993 and 996) soon.......deal hard,.

[matt911]

I have today been seriously considering a 355 instead, they have one here:

www.dicklovett.co.uk/gdlist?template=/dicklovettnew/hitlist_d&dgroup=105&pn=11&make=12#

It's a 1996 with 26k on the clock, colours as i want and it's a spider . it's up at £57,995 - again this is from a main dealer and is their list price. how much better would the 355 hold up depreciation wise - any ideas?

What would be the main differences between the 2 cars? are they very different (i was impressed how 'easy' the 360 was to drive and how it handled).

edit:

just noticed this one too, 7.5 less on the clock and only 2 grand more, maybe due to the colour (not everyones cup of tea?) i think the yellow is really nice and would be my second choice:

www.dicklovett.co.uk/gdlist?template=/dicklovettnew/hitlist_d&dgroup=105&pn=11&make=12#

>> Edited by matt911 on Wednesday 19th January 19:36

[MOD500]

Cue Chris Moyles & Comedy Dave.....'Nice Wheels'!

I thought about a 355 before getting the 993, and on the advice of (many) PH'ers contacted Manu of Scuderia Systems via e-mail. He replied with very balanced and honest answers to my questions....he is worth contacting www.scuderiasystems.com

As said above, Verdi is held in very high esteem too by many www.verdiferrari.biz

I have no ties with either, just simply heard very good things about them

Out of interest, why are you selling the turbo?

Thanks


Martyn.

[smpaton]

I would agree with others on this thread. Give Carl Verdi a call. I have recently bought a good 360 from him. You have to keep on top of him, but he knows his stuff and he will look after you.