A few 360s on ebay for <$90K

The first one is a Eurocar red/tan manual with 26K miles. VIN ZFFYR51B000117296
linky here: http://cgi.ebay.com/ebaymotors/360-MODENA-6SPD-CD-CHANGER-EXCELLENT-CONDITION-CALL-NOW_W0QQitemZ370023469453QQcmdZViewItem?hash=item370023469453

the second is a really off color, high milage US car. VIN ZFFYR51A4X0118206
http://cgi.ebay.com/ebaymotors/1999-FERRARI-360-MODENA-F1-SHIELDS-RED-CALIPERS_W0QQitemZ190199264116QQcmdZViewItem?hash=item190199264116

Are prices really sinking or are these bad cars that should probably be avoided?

 

If you see super low price 360's brokers/ dealers have already passed thoughs cars up! They should be looked at with an eye of caution! If a dealer could buy the car and make $20k or broker and make $5k for doing nothing why would they have not??

Right now there are only 6 cars for wholesale right now, that are darn good car! And thoughs prices are up...There is whole thread about it at fchat.. http://ferrarichat.com/forum/showthread.php?t=184112

 

Dang... 45,276 miles on that 1999 360!! That's a bunch of miles. Probably the most miles I've seen on a 360.

Frank

 

There's several locally with that kind of miles, they're running fine. Titanium really isn't an off-color for the 360 either.

Look for these to drop into the 70s by 09.

 

If I bought that car, I would put another 45k miles on it.... ....... they should go at least 100k with proper maintenence...

Cool!!! I will be waiting......

 

Thats an unfair statement. The dealer needs to gross a min of 20% if they are going to borrow $90K for a trade in, they have to ask $15-$20K over. Its pretty basic and the buyer should beware whatever they buy. In fact, who do you think is better at making temporary fix's to sell a used car, a dealer or a private owner? Its just a business like any other, they are there to do whats in their best interest.

 

thats exactly what i was thinking when i saw that car...

 

I am guessing this to me?

The fact is if there is a good clean car that is on the market for such a low low price, the brokers would snap that car up and flip it to a dealer..you make the point about the private seller wanting a quick flip...well...the broker/dealer would have funds wire on the spot....if course it is clean car...with so few "real" cars on the market and only 6 on the wholesale..dealer would be jumping at buying these cars just for normal stock..or the I guess dealers are not buying 360's anymore...

 

I considered that red car before I bought mine several months ago. It's a Euro, so most would say it's worth 10-15% less than a US car. Let's say 10%... which would put a US version at just slightly under $100k. I thought that was fair, so a manual Euro car for $89k sounded OK.

Only this one has no service records or history to speak of (the dealer told me he was going to check, and then I heard nothing more. So, I'm assuming he couldn't find it). At best, you would need to have a belt change and 30k done. ~$5-10k, which puts you at high 80's to low 90's for the car.

At worst could be that this car has never been serviced, and has issues which could surface later.

Not sure who said it before, but I think the latest service records are the most important. Sure, it would be nice to know the complete history, but I'd like to at least know the history for the past 1-2 years. If I can't get that, then the car would have to be in the 70's before I felt comfortable "risking" costly repairs/service.

 

Gotham Dream Cars' 360 had over 100k before it burnt to the ground on the side of the highway during a rental.

 

Good God man, that's only a little over 5K per year. A Ferrari is a car to drive not see in a garage. When will the Ferrari community get its collective head out it's a$$ and smell the coffee? These are cars..........drive the bloody things. You would climb all over a MB that is 9 years old with this kind of mileage. So what you are really saying is that the F car can't be trusted with higher mileage. What a crock. IMO. By the way, I know a gent that put 35K on his 612 in a year and had a blast doing it.

 

Titanium is not an off color. It is a fantastic color. Unusual? Yes, you don't see it every day. Off? Nope.

And I am biased.

DM
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Fairly common, actually.....
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Remember the msrp of '99 360s? I think that they are holding up pretty good.

 

The truth is that dealers buy at wholesale prices, they dont pay retail for anything. The Fcars you see at a dealer have the following costs involved before they are even offered to the public.
-The car is purchased or traded in at a wholesale price. say $70,000
-If it is purchased from an auction there are buyers fees involved. say $500 to $1500
-The car needs to be transported from where it was purchased. say $1000
-Then it is detailed. $100
-Then it is serviced. say $3000
-Then it is advertised. say $500
-Then the dealer has to make a profit. say $5000 to $10000
All these things add up and before you know it you are paying alot more than that dealer paid in the first place
While Private owner cars are often offered at a price that cuts the middle man out, alot of these people have been at dealers and not been happy with the price that the dealer offered to buy it at, and these people for the most part take care of there cars, service, cleaning, etc. They are still Ferrari owners that take pride in there cars. You still have to be carefull when purchasing a Fcar from anyone. I foresee there being alot of these cars that will hit the market over the next few years and that will drive prices down. The first things to go in troubled times are things such as peoples 2nd homes, and luxury sports cars that arent everyday drivers, and we all know that there are many people out there that made alot of quick money over the last 10 years or so, and they spent alot too. They will be liquidating.

 

the cars from vegas with 45k.... RENTAL!!!

 

I abslutely agree, ask any certified mechanic what 50k miles really means to a car.. it's literally nothing.. if the car is maintained it's NOWHERE near high mileage..

as a matter of fact like he was saying, a Mercedes or Porsche turbo is considered "low miles" under 60k for sure..

You guys are just weird.. enjoy saving your cars for their next owners..

 

BTW I've been to the dealer auctions (my pal has a dealer plate) and 360's are now in the 70's (nice cars too) spiders under 90. I get to buy w/ that plate too BTW

 

I think titanium is a VERY Sexy color in the 360

 

I go to auction every week, it is part of my job as a pre-owned manager for a Benz store. They are in the $70k range and before you know it they will be in the $60k range, I see that happening this year.

 

Geeze, I wonder what 355s are selling for now. Like 30s?

 

I just pulled up my auction reports and it shows that you 1995 355 coupes are selleng anywhere from upper $40k to upper $50k just depending on whos selling them. The lease companies usually let them go cheaper than dealers that take them to auction. Keep in mind that these are wholesale prices.

 

The market seems to want insanely low miles on Ferraris, no? I would think 45k miles would make a 360 "sale proof." Yes, that's silly, but see Sheehan's comments in the recent SCM, about what drives an F40's value. The market wants what it wants.

 

From what I gather, keep in mind Im not a Ferrari owner yet but I do this for a living, owners that drive them are a little afraid of extremely low mileage cars that are out of factory warranty for several reasons. I have heard on several occasions that a happy Ferrari is a driven Ferrari and that the ones that sit and are not driven become tempermental. With the exception of the rare cars such as, 288 gto, f40, f50, and enzo.

 

But the MMR shows no sales..only 1 in all of 2007..for MY95 355 Coupes, and that one sold for $58,000, (minus buyers fee's shipping, clean up and flooring cost) with over 24,000 miles,in Augest of 07

So while we dealers have many times relyed on the MMR, for Ferrari and Lamborghini it's realy tha list and i lux for wholesale numbers for these cars and they are all over the board right now!

And this somewhat true...The service history is more impaorant then miles..if the car has low miles, but everything has been maintained then great, on the oppsit as with most car, if it has 20k+ miles and the service has gaps..then bad!!!

As with the Enzo..the lower the miles the more issues it more then likly has!