Buying a 360 for $60k is that possible ?

I'm currently shopping as well, but the majority of cars even under $80k seem to be in poor condition, with no service records, need work, etc. etc. I mean I'm sure if you look hard enough, you might find a nice example at a good price, but $60k seems quite optimistic. I think $80k is already a super deal considering what these cars retailed for, & I couldn't think of any car at that price that can give you as much satisfaction... & not to bash you or anything, but another thing to consider is that if the only way you can afford to buy a 360 is if you find one for $60k, then you probably won't be able to afford the maintenance. Not to mention a car sold at that price probably needs some work done. Not trying to put you down or discourage you, but the purchase price of an exotic is just the "entry fee." I think you should have at least $15k of spare/disposable money put away for maintenance or anything that could potentially break/wear on a car like this. It's true what they say, "there's no such thing as a cheap exotic." Pay now, or pay later.

 

er, short answer is no unless you are okay with a salvage title one. are you prepared to spend 5k on clutch and 7k on belt service?

 

It can be done. Just expect to spend $20,000+ after your 1st visit to the shop.

 

two things to keep in mind:

1) You get what you pay for

2) Buyer beware

 

It's also possible for you to squeeze your balls in a vice.

The question is, do you want to do either? (my point is there would be a similar result)

 

dude.....thats funny!!! LOL...but true!

 

Having just bought an 00 for $80k, and having done some extensive homework prior to the purchase, I can tell you this: the Internet makes it seem like there are a lot of very sweet deals out there. After you waste a lot of time investigating the super deals, you come to the realization that those super deals are super for a reason. I have seen 99-00s go for $60k but I can personally tell you that there is at least one scammer out there on Ebay (hint: if anyone asks you for a deposit to get the ball rolling, run don't walk away) and a rather large automotive chain (and licensed dealer of another rare exotic sports car that rhymes with Biker) sells cars with odometer and accident histories. That's right, we are talking about a multimillion dollar dealership with a contract with an exotic automaker. So just goes to show you can never be too careful. There may be some deals out there, but you have to do the work, and don't be too surprised if you end up finding out that the best cars to get are "right priced" rather than "bargain priced". Just my 2c.

 

I've set a goal for myself to buy a 360 Spider in 4 years time. I'm hoping by that time I can spend $60K on one and get a well maintained, well driven car.

 

Cut that time in half..............The real master of the economy (Buffett) just gave an interview to Bloomberg TV in which he says it is going to get a lot worse before it gets better. But if you turn o CNN we are starting to make our way out of this.....riiiiiiiight. With all that being said, I fully agree with what everyone else has stated here, something that seems to good to be true usually is.

 

There are 6 360s on autotrader.com between $65,000 and $70,000. A little negotiating and you can probabaly get close to $60,000. But I agree that you may spend a fortune on service. Autotrader listed a 1999 coupe with recent major and clutch (claimed $20k cost) for just under $74,000. Probably better to spend a little more money up front and be able to know exactly what was just fixed. As long as you are looking for a driver, these cars would be fine.

 

A used car dealer had a 360 coupe for $69K. It looked good from the road, but up close it was trashed. They sold that and now have a nice one 360 for $109K. They obviously know the difference between a clean one and a trashed one.

You can get a cheap one, but would you really want to???

 

anyone who uses the internet as a price reference for the market hasn't looked at any of those cars. I went through this process and paid more than what these types say I should have. But I got a car with all the right options and colors, all records, books, keys, and covers.

Here is one thing that I think is going to keep the prices a little inflated. When you start dropping below $80k, look at the cars that you can buy brand new. I doubt you will see a 360 drop below the price of a new M3 or Z06 or base 911 for a while. SImply because some (not all) of those perspective buyers would buy the ferrari instead. the lower the price comes, the larger the buyer pool is, which will help keep the prices inflated...

 

Totally, agree - I went through the "Internet Pricing" quandry during the early stages of my search - I even called on a couple of the vehicles...the result: way, way too many stories, lack of documentation, etc.

I ended up paying more, getting Ferrari Approved in the right color, with a warranty and all books, keys, cover, tools, even flashlight. Does anyone contemplating a $60k purchase know the hassle (and expense) if they buy a car with only the black key fob?

Do your research guys, I understand the prices look enticing - as they did to me - but you need to use your head - everything is priced for a reason.

And why is every new thread on the 360/430 board about pricing...same rule applies to all these questions: you are going to get EXACTLY what you pay for.

 

If you get one for under 70k , it will be a hi mile car. If you guys don't mind that, well get in line.

 

I would have to disagree, though I think that there is some validity to your arguement. Hey when I go to a steak house and they have the filet for 30 bucks and the strip for 20, and the waiter tells me that they just dropped the price of the filet to 20 bucks, that does not necessarily make me want the filet more. Because what I really came there for was the strip in the first place. There are porsche, bmw, lotus, and ferrari people and if prices were the same they would still go with there first pick. Though I can also see how if prices were equal across the board one could go, "let me go see that ferrari since the new models and those are the same price". Of course with most die hard porsche and bmw people that I know, the maintenance of the ferrari troubles them most of all. After asking them the question of wether they would prefer a 360 vs. new M3 or 911 which would they choose, they said with the bmw and the porsche; that at least the maintenance would be covered for 3+ years whereas a 01 360 would not. Is an interesting topic. Just my .02.

 

I think a lot of potential owners looking for their first Ferrari really don't understand the possible cost of ownership. If they did, they would be a lot less worried about price and a lot more worried about what they are buying and getting into.

Do you know why we see so many screwed up cars? It's because their owners cut costs, didn't care how it was treated, or couldn't find someone good to repair them. WE, the enthusiasts, are the ones to sort it out.

These cars are EXPENSIVE when they break and EXPENSIVE to maintain. Forget what you think expensive is. Multiply that by 10. They are not Buicks or Vettes. Whenever I see someone thinking they can find a "bargain" whatever, I think to myself... just wait until you see the first repair bill and that bargain you thought you were getting will look like the biggest money pit they ever got your hands on.

Considering ownership is more than just "can I afford to buy it". It's making sure you can upkeep it and having an infrastructure to maintain it, whether that be a good independent mechanic, a dealer, or yourself.

Think of it like adopting a baby. You may "qualify" to get one, but what's your plan after that little bundle of joy comes home?

That being said, there is an expendential increase in costs from the 348 upwards for each progressive model. In the end, I think this will be why the 308/328 become one of the most favored of first time buyers for a long time to come. For bang for the maintenance buck, they are hard to beat.

 

I think that this is strictly a fishing thread to see if someone here is desperate enough to let go of their 360 (Spider F1 low miles all services up to date) for $60,000. I would just ignore.

 

I concur with all your sentiments and "you do get what you pay for". I purchased my 360 F1 in January, it is extremelly clean, was an ex Ferrari certified car from 18 months prior, had all its service records and it ran extremelly well. I paid a fair price for the vehicle that is more than theu are worth now (even after 5 months).

Now that being said I recently changed the clutch (just started slipping), timing belts, water pump, engiene mouunts, etc. as I wanted to be sure that everything was OK and nothing would go wrong with it as I travelled with it or brought it to FCA events. I spent some money and that is gone and I wont ever see it again. If I had of paid $10K more I probably could have avoided this work (big maybe) but the technician said my car is great mechanically and body wise - just needed a couple of things and some preventative maintenance. Now I know for sure that it is all OK.

However, I am happy, I love the car, I drive it nearly every second day in the evenings and on weekends - that is what really counts, isn't it? I dont care what they are going to be worth later as it is an investment in my sanity! All cars go down in value to a point.

 

No ****. I bought a 01 euro spider in 2008 before the decline in the market. It was $125k from Euro Motors sports out of Flordia, (stay away from these crooks) The car was PPI'd by a mech they suggested, (I know I am an idiot). They said car was near perfect, service records, new major service, clutch 89% and new, books, tools keys etc etc etc.

Got the car, no books, no tools, no keys, broken ash tray, no rear windscreens, dents on both front fenders, huge scratch on rear bumper, no CD changer, bent wheels, clutch wasted, needed major service and new clutch, Cats fried, needed new one. $40k later and 5 months of hell sold her for $99k . Not a fun bath to take

You get what you pay for and most times even worse

 

I think there are two ways you might get a car at this price point that won't instantly cost you a bunch of additional money:

1) Salvage title, and/or
2) Really high milage.

If you are buying it to drive it, and don't care about resale, a salvage title vehicle (depending on the issue and the documentation) could be a good buy.

But in almost every other case (except maybe an incredibly distressed sale) you are going to be buying a needy car, and unless you can do all of the work yourself, it won't be a deal.

 

I wonder how many of those fishing the Internet for low pricing realize what the smallest of insignificant items for these cars cost?

For example, when I purchased my 360 in January, the dealer proclaimed "hey, it even has the flashlight in the tool bag!" I thought to myself "Big deal, who cares, how much can a flashlight be?"

Then I get home and for giggles I look it up...$97.98.

Sooooo, I wonder if those looking for the $60k version plan on putting the .$.98 cent STP Gas Treatment in with every fill up?

 

A 360 was sold in Dallas for 73k a few weeks back.

 

big deal. if youa re talking about the one at Ruff, then it was an off color, but otherwise good car. They wanted to move the car quick, and if you aren't patient, this happens. Are there deals? sure. does one "deal" dictate a new low int he market? not IMO...

 

Pretty much everything has been said

you CAN get a driver 360 for close to that...but to some here anything less than a mint car is not worth buying. I dont agree.

Personally I treat my cars like cars not pieces of art. I drive them. I scrape them on steep driveways...I park them in mall lots and they get dinged. I rarely wash them. I spill things in them...BUT I keep the mechanical maintenance up and thats the expensive part to repair.

So just because a car looks a little beat doesnt mean the mechanicals arent in top shape. When I put my F355 up for sale I didnt get a lot of responses because it looked beat but it was priced accordingly. The guy who bought it took it for a PPI and they said mechanically it was PERFECT.

So the guy who bought my car needed to spend a couple grand on appearances BUT got a mechanically perfect car for a great price.

So if you want a car to drive as opposed to hanging on your wall dont rule these 'beaters' out...get a PPI and you might be surprised at the deal you are getting.