I want a Ferrari 360

No you won't find a nice 360 for $60K, you won't find a nice 355 for $60K

 

You might find a high mileage one that was well taken care of for that money.

 

Maybe you should read some more articles, regarding maintenance, etc. $60K???? Really make sure you have the $$$$ for scheduled maintenance and some save for unexpected issues, or this could turn into an unpleasant experience, which none of us would want you to experience.

"automatic"?, be sure to use the term "F1", or "paddle shifter", or a salesperson may peg you as uninformed, etc., and take advantage of you. Do your due diligence, and also read more on this forum, IMO. It may be better to wait until your budget is a bit more. Try buy the best car available at the top of your budget. Buying cheap will likely cost more in the end.

 

Everyone wants one for $60k or less.

The way it happens is prices drop and the wish realizes, or you spend alot of time shopping and find someone who needs the money. It can be done, maybe, but anytime we read about someone shopping for a below market price we have to think "why a third below market?" And that's usually because they can't afford the other costs of the car like fluids and belts, etc. At this time shopping using the usual venues like auto trader and cars.com.. everyone doubts you can find an example that was taken care of. Nope.

A general guideline that is used is if you can't afford to own the car new, you can't afford it used. You might lower the acquisition cost of the car with financing for 8 to 10 years, but the cost of parts doesn't change. Servicing costs don't change. These are going on 10-15 year old cars. Things are going to break and wear out. Make sure you factor this into your budget. Not everyone gets lucky with these cars.

 

Had a friend, with very deep pockets, buy one "cheap" on e-Bay for $80,000 with no major or maintenance records. Within six months, it was in the shop, and gone three months later. It soured him on Ferrari ownership. He bought a heritage Ford GT and seems much happier.

Moral of the story: there is no such thing as a cheap or bargain Ferrari. Caveat Emptor.


Sent via itty bitty electrons

 

Just curious, what is your definition of "a ton of mileage"?

 

You won't get one with under 50k miles and have service records for 60k unless you get really lucky. Change your color and you start to get close though. BTW all the colors look much better in person. Unless you go with something really off the wall, it will still be the prettiest car you've ever owned.

 

Can you find a red 360 for 60k, yes but you might have to be patient or in the right place at the right time. Just as an FYI, as of today there are 57 360 coupes and 63 360 spiders on cars.com today. Of these 120 cars there is only 1 at 60k or lower. It is indeed red so might be worth a call. My point is that with a good sample size you are going to be looking at a less than 1% chance a car is even close to your criteria. Add 20k to your budget and you will greatly expand your odds of finding a good car.

 

Hi,

Recently 360 prices have rocketed, and unfortunately a low mileage 360 for $60k would be out of the question, however I personally do think that with some good negotiating skills, and knowing the right contacts (possibly some of the people on this amazing site ) you could find a lovely 360, but mileage may be slightly higher than your desire...

But remember, if you are having trouble paying for the car in the beginning, you will have trouble maintaining the car. Services cost a fortune on Ferrari's. However the pros do out weigh the cons

good luck!

 

+1 on all the previous comments here. You need to increase your budget. Don't buy the cheapest example you can find, buy the best sorted one for your budget. $60k is not going to happen. Even if you find one in the 60s with high mileage my guess would be it is due for a big major service with belts and clutch and that will cost alot of money!
Yes ownership of these cars even for minor things like (annual) oil and coolant change is pricey. I just did one of the cheapest service items on the 360 - the oil and coolant service and it was about $650 at an independent shop. Every little thing is exponentially more expensive than on a regular car so keep that in mind. But in the end it is so worth it to me and I do not mind spending the money

 

Not sure if it fits what you are looking for but I have my 1999 360 posted in the Ferrari ads on this site. It is Red/Tan and an F1 with Tubi Exhaust and challenge grill. It has been well serviced over the past five years. Last belt service was last year.

http://www.ferrarichat.com/forum/ferraris/497589-1999-ferrari-360-f1-red-tan-42-000-miles.html

 

http://www.ferrarichat.com/forum/360-430/490731-360-monthly-market-usa-price-index.html

This member is running a price thread each month. You can get most of the information here, no?

Some people might back off 10%, but each seller and each car is slightly different.

 

Pen Fed does financing. Make sure you budget 5-10k per year for repairs. I thought that finding a good car would keep that lower. So far it has on average but you can easily go over that 5k with one big repair.

If I was you, I would settle for a different color that would be a bit cheaper or wait a while. In the end it's your money but it would be crazy not to listen to people who have gone through exactly what you are going through now.

 

There is an old saying in the Porsche community.
"A cheap Porsche is the most expensive car you can buy".

I'm sure the same can be said for "cheap" Ferrari's, only with cherries on top.

If you are stretched to afford a $60k Ferrari, you might need to seriously consider waiting a little longer.

OTOH, If you feel comfortable with DIY regular maintenance, that'll save a few $$.
Also, if this is going to be a weekend toy and it's not an inconvenience if it's undriveable while you save for dealer/indy repairs, then got for it!

Good luck either way.

 

The price goes up for a spider and so can the repair bills. I settled for a Modena and with all the attention I get I'm glad I did. Ferrari's aren't very common in my area. If they are in yours then it won't matter as much.

 

I support the folks here that stated you can get lucky. I played the cards and waited for a year until I found one lower than your budget with clean title and only 15k miles. Its F1 and I prefer it as new experience because my Porsche takes care of my stick shift itch.

Not complete maintenance record though. I only have the receipt for the recent clutch change and other little things. Haven't gone through belt service but I don't care for the bargain price. I can get my hands greasy and lots of knowledgeable people who helped me here. I only spent the materials which is around $1,200 in Ricambi and that's it. Now I'm done with the project I only worry about the next maintenance and little ware and tare items that comes my way. I have the car for more than a year now and clocked 6,000 miles on top and still running strong.

Negotiating skill, desperate seller, elbow grease and I got myself a stunning Ferrari 360 for a price of a base model BMW 5 series which is way below your budget.

 

They say good things come to those who wait. I feel like this was coined for those shopping for a Ferrari. Be patient if you can. They're out there.

 

Just checking on your progress in the hunt for the 360

 

There's one in Texas being sold for 59k and it's a spider gated with clean title, only 15k miles. The problem is the top and the mechanism for it is trashed.

If it doesn't rain where you are get this and then slowly save on repairing the top.

 

Are you stuck on a spider?

 

A used Maser quattroporte and put a tubi exhaust and some mod. That would be good for $60K and performance will not be that bad. Well it is come from same mother.. Owning an Itlian Super Model will cost you no matter what. You need to be prepared. Otherwise, you will be so unhappy and become a Ferrari hater.

 

A friend of mine just paid $105 for an '03 coupe.... 5K miles, fully serviced, books, tools, records.

A red spyder for $60K that is 'solid' is the request. Unless you are very good with a wrench yourself, I think it might be best to put the Ferrari thing off until you can afford it.

Don't stop looking as that's half the fun. Keep saving and you never know what may turn up.