Please help me organize my logic here a little

can you actually find good modena's at 100K? I didn't look at them for long, but the no issue ones that had service history, recent belts etc seemed to be at the 120K mark

 

Logic and Ferraris. OK.

Yes, the 360 seems less of a money pit than the 355, although a $100K 360 Modena is probably toward the low end right now.

Which car do you like more?

 

Now you''re on a 360 kick?
oyyyy

Get a 99 Euro 360 for 95k

 

I think you are overestimating the maintenance IF you did a good job on selection. Should be more like $10k. I haven't seen any "no story" 360s less than $115k, but they are coming. Thats the other factor, there will be less depreciation in a 355.

If you can accept a hardtop (I can't), a 360 purchased 2 years from now will make alot of sense, they should be about $95k.

 

Robin, this is how I see it: it's basically logic AND passion.


Logic: I think your estimate of $20K maintenance/repair bill for the next 2-3 years is too high. Given that a proper PPI is performed prior to purchasing the car, you would know before hand what repair or not is required. Let's say the car you're looking for @ $75K does pass a clean PPI (otherwise the sales price should reflect any due repairs), then all you really need for the next 2-3 years is a Major service (let's say $7K). So your cost would really be only $75K + $7K = $82K. And you're good to go for the next 3 years. Oh, and if nothing breaks or happens then you'd pocket that $18K ($100k - $82K) you would have spent on the 360 as car payments.
Edit: Given that "operating cost" such as annual oil/filter change, tires, gas & etc. are same for 355 and 360 for the next 2-3 years.

Passion: If money is no object (I know it's a big IF here), which car do you desire more, 355 or 360? Which car would make you go to your garage 3am and just stare at it with the biggest f*ing smile on your face knowing that she is all yours?

Logic: Other people can analyze for you.
Passion: Only you can answer this.

 

There are far more qualified people than me on this forum, but here's my guess:
If you own the car three years, a major should be performed on your watch. $5k (independent, all goes well) - $10k+ (authorized dealer, and maybe all did not go well) - $13k if you want to fix the valve guides too.
Three annuals - $3k
Tires - $1.5k
If things go well, you can probably spend less than $10k in three years, especially if you DIY when possible. I'll bet that most owners don't spend more than $4k a year in repairs (not upgrades .

If things go badly, your $20k budget may be inadequate. 25% of the owners here have had header failures, which in rare cases may require a complete rebuild at over $25k. In extreme cases, the infamous valve guide problem - also affecting over 20% - can also. F1 transmission pumps can also be costly.

The upside of the downside is that you will probably recover some of the major maintenance money when you sell, so you might end up buying a $75k car, put $20k into it over your three years, and be justified in asking $85k (fresh major! valve guides and headers fixed! new tires!) when you sell.

Be patient for the Right Car. I've been looking - every day for six months, put an ad in Autoweek, asked my local dealer and club and this forum for help - for a pre-loved red/tan 6 speed B, and haven't found anything close enough to order a compression test on.

Shop carefully - the wallet you save may be your own!!

 

If you purchase a used 355 from an authorized Ferrari dealer, you'll have a 1 or 2 owner car with a full service history (they won't sell anything else) and a 30 day warranty.

If you base your selection criteria on 355's that have either installed aftermarket exhaust headers ($2,500) or had the valve guide issue fixed properly ($2,500 extra at a major service), then you will save yourself a one-time maintenance fee of $2,500.

Budget $6,000 for your major service (e.g. at Eugenio's) every 3 years (though many owners go 5 years between majors). Two sets of tires should set you back another $1,700 over the next 3 years, as well.

So you'll plan on at least one $2,500 service, one $6,000 major service, and $1,700 in tires = $10,200.

If you can drive 10,200 miles in your "new" 355 by the end of 36 months then you'll be out a Dollar per mile. Well, if gasoline and oil were free.

Cheap fun.

And the 355 will depreciate less than the 360 over the coming 36 months (you'll have a similar Major Service charge for a 360, by the way).

But if you buy a 355 that isn't well sorted, plan on twice the above in maintenance expenses. So an independent dealer or auction or lease company (i.e. buy a 355 as comes off of someone else's lease) needs to save you more than $10,200 from a 355 at an authorized Ferrari dealer for the 2 cars to be thought of as equally priced.

 

That's probably the crux of it. When your 360 drops another $15K in value this year, you haven't really "spent" more -- but in the big picture you really have burned through that money.

Also, I think you want to stay in a zone where you can pay cash for the car and have a $10K reserve for the stuff that will go wrong.

In my personal experience, I feel a lot better putting $5K into my Ferrari (thereby making the car better) than I would paying $5K interest on a loan or seeing my car drop $5K in value.

But then my car is financially insignificant to me. Not in the sense that I'm super rich, but that it's worth for to me for how it drives/looks/sounds than for the current cash value. That's the sweet spot, IMO, when it comes to Ferrari ownership.

 

Great synopsis PK, I was thinking along those same lines. It is possible to buy a pretty well sorted 355 for around 75k that will need very little if any high dollar work over the next three years. Basic maintenence is standard on both the 355 and 360 so that should not tilt the scale too much in either direction.

Well said ND...........As for headers QV is also an acceptable header repair at about $2k .

+1 my f-car has a very good fun to cost ratio IMO

 

On behalf of the Brotherhood I would like to offer that the 348 is a much better financial model due to the lower front end cost and higher residual. I would dare say that the potential for unexpected repairs is lessened as well due to the lack of the more exotic systems than a 355.

 

If I am not mistaken, the header issue also spilled over to the early 360's too. One of my neighbors has a 2000 360, and had to replace one of the headers under warrenty.
So, its really a toss up. But the lower maintenance costs (belt change, etc.,) and all alluminum chasis (remember the 360 was 3 seconds faster then the 355 at Fiorano, this is remarcable for a car that has very similar horse power rating compared to the 355) makes the 360 very attractive in about 2 yrs. But then that rear end of the 355, with that beautiful tail, is absolutely gorgeous. So, in reality, get the car that you like the most, very little logic when buying these cars. (only logic, get a good PPI)

 

Dude - you're looking at fcars, not pcars. No cold logic here. Just hot passion. Drive either one, ask wifey (or not), and just get the one that gets you up early on Sunday for a sweet drive.

Even if I could afford a 360, I'd get a 355, just for looks if nothing else. Yes, the glass engine cover is cool but I hate the front end and the weird lines over the front wheel arch.

If you want to try pcar logic, then why a 993 over a 996? 996 roomier, faster, RMS-aside, less to maintain, etc. etc.

 

I havent read the whole topic, but if you buy and sell any of these cars in a 3 year range, you will lose more money on the 360.

Remember while the 360 is the better car, the 360 is the bottom version of there shape(360/430) and the 355 is the (hate to say this) the more known better of its shape(348/355).

So for resale value, I think the 355 is better from the 360.

If I were you, Id just get a good 348 and you will be worry free.

 

+1 'Looks' was the main reason I bought an F355 . The 360 front "wheel arches" and ambiguous front end make the 360 look like it has 'down syndrome' . See pic below:

The 360CS front bumper is a marked improvement, though that is another price bracket too.

But then again everyone has their own reasons. Go to the 360 section and ask the same question, they will tell you otherwise so it is really up to you.
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you can not aply logic to a passion...


you should buy the car that makes your heart beat so fast that it seems that is going to explode...

 

Who Cares ?

buy what you like, enjoy it, we are only here for a short time

 

Join the 348 brotherhood!! Think of the things you could do with all the left over money Seriously, how can you say no to this for 60K+ less than a 360
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