360 Spider First Drive, and 360/430 Decisions | FerrariChat

360 Spider First Drive, and 360/430 Decisions

Discussion in '360/430' started by opherhenry, Jul 24, 2014.

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  1. opherhenry

    opherhenry Rookie
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    Jul 17, 2014
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    Huntingdon Valley, PA
    #1 opherhenry, Jul 24, 2014
    I've started the search to fulfill a dream car of mine. The 360 Spider. So I finally got to take one out, a 2001 with F1 transmission. First off, the car is amazing looking. I like the looks every bit as much as the F430.

    I was leaning toward a manual and still am although I don't have any comparison as I haven't had a chance to drive a manual 360. I didn't love the F1 transmission after my drive.

    The 360 pulled pretty hard above 4k rpm but below that it was kinda sluggish. I realize that I can't expect the car to compete with modern sports cars but was a little underwhelmed at the power. Honestly out of the hole my Infiniti FX50 is like a rocket ship compared to the 360. I know that this was not what the car was designed for and I don't go around drag racing but it is kinda silly to have a "exotic" that is slower than my sport cute. That said, I loved the ride and I'm sure it would be a blast to own. As the curves, awesome high revving engine, etc and the car is BEAUTIFUL.

    So, here is my question. Do I try to find a clean manual 360 at a decent price $75k to $80k and than enjoy for say 4 years and take a $15k depreciated hit when I sell it plus the cost of maintenance (I'll guess this is $2,000 a year with a manual)? Let's call that $23k ($15k depreciation and $8k maintenance) for 4 years of fun. Part of me feels that the 360 has hit close to bottom and I could potentially drive the car for 7 years with zero depreciation but I could be totally wrong. The current 360 I am looking at purchasing is a 2001 Spider with 6 speed manual and only 19k miles with a perfect service history and no accidents.

    Or some have suggested and I can see why.... to skip the 360 altogether and get a 430 spider for $125k. I am going to assume similar maintenance costs... and depreciation of $30k at least. So $38k ($30k depreciation + $8k maintenance) for 4 years of fun with a much faster and more modern car.

    I will drive it about 2,000 miles a year. This will be a second car, to be garaged when not in use and only used when I want to take her out. I don't make whimsical decisions and I own my cars 6+ years on average. If I loved the car I could see myself keeping it 6+ years. I am 40 years old and have the cash in hand to do either purchase without any loans or creating undue stress.

    What are you thoughts on depreciation, driving experience and general thought process? What would you do?
     
  2. GaryR

    GaryR Formula 3

    Dec 11, 2006
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    #2 GaryR, Jul 24, 2014
    Buy the car that makes your heart beat faster. I personally prefer the 360 to the 430 from a design/aesthetics standpoint but everyone is different. Find what you like best, buy the newest in the best condition you can afford, and stop talking about depreciation.. a Ferrari is not a financial decision IMO, it's an emotional one.
     
  3. Treviso

    Treviso Formula Junior

    Sep 30, 2012
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    Robert
    #3 Treviso, Jul 24, 2014
    If speed is your concern, buy the 430 for sure. You can still find nice 6MT cars out there with a little bit of tenacity in your search. The 430 6MT will be cheaper to own with less maintenance than the 360 analog. No engine out belt service required for the 430. I always buy the best/nicest car I can afford and maintain them like a newborn child! I found a very nice low mileage 430 Spider 6MT and love the car. It is a beast.
    Best of luck on your search.
     
  4. mikeyr

    mikeyr Formula 3

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    #4 mikeyr, Jul 24, 2014
    No engine out belt service on the 360 either !!!
     
  5. Kevin Rev'n

    Kevin Rev'n Two Time F1 World Champ
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    #5 Kevin Rev'n, Jul 24, 2014
    AMEN!!!

    On depreciation, I think there is an argument to be made that the gated manual cars may hold up against it enough to make predictions difficult...especially in the 430!

    The 430 would definitely be the correct car for you IMO. The extra hp over a 360 and then the awesome interior is very contemporary and should look good for years to come if not forever.
     
  6. Treviso

    Treviso Formula Junior

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    #6 Treviso, Jul 24, 2014
    Sorry guys, I stand corrected. For some reason, I though that the engine had to come out for the belt service. If the engine doesn't have to come out...why is it so damned expensive for a belt service? :)
     
  7. ferrame

    ferrame Formula 3

    Mar 2, 2005
    1,193
    Orange, Calif
    #7 ferrame, Jul 24, 2014
    Belt service for my 360 Spider was $1500 parts and labor.
     
  8. Kevin Rev'n

    Kevin Rev'n Two Time F1 World Champ
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    #8 Kevin Rev'n, Jul 24, 2014
    Robert there is a panel behind the seats that comes out and the belts, and a few other things are right there. Normally the seats are removed to allow room to work. So some of the work is a two man job. You have to like the folks you are working with to give them the money and you need to feel that you are getting back value. You are paying for a shop to stay open and there is a Ferrari Tax on the parts. Out here is similar to Ferrame's cost.
     
  9. Treviso

    Treviso Formula Junior

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    #9 Treviso, Jul 24, 2014
    Kevin, I had no idea that you could get to it through a panel behind the seats without taking the engine out. But, there is no doubt that if you don't support a shop, it will go away. I was thinking that the belt service was more like $5K, but certainly $1500 is pretty cheap. Hell, I had a two year service done at my local Ferrari dealer (all fluids, etc...) on my 430 and it was more than that. It is the price of admission to play this amazing Ferrari game.
     
  10. Need4Spd

    Need4Spd F1 Veteran

    Feb 24, 2007
    6,646
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    #10 Need4Spd, Jul 24, 2014
    Ideal would be 6spd manual 430. Almost as rare as unicorns. They exist, but owners tend to keep them.
     
  11. hmfic1

    hmfic1 Karting

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    #11 hmfic1, Jul 25, 2014
  12. GaryR

    GaryR Formula 3

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    #12 GaryR, Jul 25, 2014
    That is nice.. tasteful mods, looks well cared for. I like the wheels, are they OEM or aftermarket?
     
  13. HH11

    HH11 F1 Rookie
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    #13 HH11, Jul 25, 2014
    Appear to be ball polished 430 wheels.
     
  14. Evan.Fiorentino

    Evan.Fiorentino F1 Rookie

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    #14 Evan.Fiorentino, Jul 25, 2014
    They look like ball polished F430 wheels. Nice car!
     
  15. GaryR

    GaryR Formula 3

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    #15 GaryR, Jul 25, 2014
    Must be ball polished 430 wheels..

    What the heck is "ball polished" and does it hurt when you do it?
    :D
     
  16. DrDon

    DrDon F1 Rookie
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    #16 DrDon, Jul 25, 2014
    Not if you keep your thumbs out from between when using the brick.
     
  17. English Rebel

    English Rebel Formula 3

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    #17 English Rebel, Jul 25, 2014
    Here's another nice one with good options. 430 maintenance is less as they have cam chains and not belts. $1500 for a belt service is good. Belts are about $300 and tensioners are around $400 a pair (HE).
    Alan

    Sport Auto =>2001_Ferrari 360 Spider Titanium N047K
     
  18. GaryR

    GaryR Formula 3

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    #18 GaryR, Jul 25, 2014
    Last edited by a moderator: Sep 7, 2017
  19. opherhenry

    opherhenry Rookie
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    Jul 17, 2014
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    Huntingdon Valley, PA
    #19 opherhenry, Jul 25, 2014
    Thanks for the feedback and links. In searching around it looks like the cheapest 430 manual worth buying is about $140k and I'm leaving toward a clean 2001/2002 360 manual for about $80k. I want a 430 performance but I like the look of the 360 just as much as the 430 so I guess I should get my feet wet with a 360.

    Thanks for everyone's feedback!
     
  20. Kevin Rev'n

    Kevin Rev'n Two Time F1 World Champ
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    #20 Kevin Rev'n, Jul 25, 2014
    Oh that is a nice car! That was my first color choice but as things go we cant always pick our color when our list of desires is large!
     
  21. Kevin Rev'n

    Kevin Rev'n Two Time F1 World Champ
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    #21 Kevin Rev'n, Jul 25, 2014
    The finish is really superb.

    [ame=http://www.youtube.com/watch?v=hZ97eFP4tVs]Alloy Wheel Ball Polishing at Atomic Wheels - YouTube[/ame]
     
  22. opherhenry

    opherhenry Rookie
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    Huntingdon Valley, PA
    #22 opherhenry, Jul 28, 2014
    I just bought lencap's old 360 spider! I get it Wednesday. Can't wait. My first Ferrari!

    Sport Auto =>2001_Ferrari 360 Spider Titanium N047K
     
  23. GaryR

    GaryR Formula 3

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    #23 GaryR, Jul 28, 2014
  24. Kevin Rev'n

    Kevin Rev'n Two Time F1 World Champ
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    #24 Kevin Rev'n, Jul 28, 2014
    Way to go!
     
  25. Treviso

    Treviso Formula Junior

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    #25 Treviso, Jul 28, 2014
    Fantastic! Enjoy her in good health!
     
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