Buying a F360 Spider, want to be 100% sure it's a good deal | FerrariChat

Buying a F360 Spider, want to be 100% sure it's a good deal

Discussion in '360/430' started by teknikl, Apr 15, 2010.

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  1. teknikl

    teknikl Karting

    Sep 16, 2009
    62
    I'm buying a Red F360 Spider 6speed manual tomorrow, 55000km on the body and 3000km on the engine/transmission (the previous owner blew the engine and they put in a new transmission, I will have documents to support the age of the new engine, etc). Does the engine situation increase or decrease the value? I would think increase, because no majors need to be performed until 25k right? Clean Carproof/carfax, and body is immaculate.

    Is this car worth 107,000CDN? I have done homework and a red spider manual seems to be the most sought after combo you can find... I found some modenas close in price, but the spider is worth about 10k more off the stop right?

    Just want to make sure I'm not making a huge mistake on the price... If anyone has input please by all means help me out. BTW it's being sold certified etc.

    Thanks in advance!

    Mike
     
  2. Skidkid

    Skidkid F1 Veteran
    Owner Rossa Subscribed

    Aug 25, 2005
    9,547
    Campbell, CA
    Full Name:
    John Zornes
    Canadian pricing is different than US prices but it sounds like a good deal.

    You need a major every 3 year no matter what miles. Can it be 4 or 5 years, I think yes but it may have some risk so it is your call.

    Enjoy the new car
     
  3. chrmer3

    chrmer3 Formula 3

    May 19, 2006
    1,719
    USSA
    Full Name:
    Chris
    too high for US pricing I would say... but you must deal with whats in your canadian market. If you can import one from the US & not get raped by customs, you will save money & may have a less mile, original car.

    Now you say a "certified" car, are you implying it will come with a extended Ferrari warranty? if not Certified is just a buzz word.

    Have a 3rd party with ZERO interest in the deal look over the car (PPI).

    Search Ebay for a basic idea of 360 spider pricing... Some people balk at Ebay, myself- I believe its a solid indicator of what the cars will sell for.
     
  4. teknikl

    teknikl Karting

    Sep 16, 2009
    62
    yeah in order to import a US car it costs $16000 for canadian conversion, plus 15% taxes, plus duties. it's totally not worth it at all.

    It has had a ppi done by ferrari of toronto a month ago and they supplied it to me free, and it looks good...

    you need to change the timing belt every 3yrs regardless of mileage?

    i compared to other 360 spider manuals on trader.ca in toronto area
    and it looks good.

    any opinions on the low km engine? better or worse for resale to have a new engine?
     
  5. lpspeedster

    lpspeedster Rookie

    Dec 23, 2009
    44
    GTA
    myself, and was ready to pull the trigger ....then found
    04 silver/blk spyder (colour & combo 'I' really liked) One owner, 6spd, 19kms @local Fdealer and paid 30% more than your quoted price. Hour after I wrote up deal got call from the dealer to see if I wanted to sell bc there was someone else that I just beat to it! lol
    You pay what 'YOU' think is fair then DRIVE and ENJOY!! :)
     
  6. teknikl

    teknikl Karting

    Sep 16, 2009
    62
    I think the price is fair... the only thing that kills me is the freaking 13% tax... son of a beyotch!!! 13.5k!!!

    dang dealers... if it was private it would be 7%
     
  7. teknikl

    teknikl Karting

    Sep 16, 2009
    62
    I guess I'll see you all on here a lot more after tomorrow!
     
  8. johnd87

    johnd87 Rookie

    Dec 27, 2006
    44
    Montreal
    Full Name:
    John
    i am from montreal and i think the price is fair. i have found some spiders locally for 125-130k with about 10 000km but not that color combo. the color combo and 6speed hold a huge premium, so if you are really set on the combo go for it. if not pm me there are a few local cars i have been looking at you might be interested in.
     
  9. teknikl

    teknikl Karting

    Sep 16, 2009
    62
    the combo is what I want for sure... very easy to sell should I ever need to.
     
  10. Davidt

    Davidt Formula Junior

    Nov 18, 2003
    713
    Ontario, Canada
    Full Name:
    Dave T.
    Too much...... The car has a story. Import duty is only 6.1%, dollar is at par. $100k U.S. will get you a really nice, no stories car. imho.
     
  11. teknikl

    teknikl Karting

    Sep 16, 2009
    62
    So does that mean you think the new engine is a bad thing?
     
  12. Davidt

    Davidt Formula Junior

    Nov 18, 2003
    713
    Ontario, Canada
    Full Name:
    Dave T.
    It’s all about perception. What would cause the engine to fail? Was it that the car was abused? What else could be wrong with the car? Stick with a no stories car; it will pay huge dividends in the long run. Again IMHO.
     
  13. Back Marker

    Back Marker Formula Junior

    Aug 26, 2006
    545
    South
    Full Name:
    Tom
    When you buy a car with a story, any story, you will have to sell that same story to the next buyer. The fact that you are apprehensive about this car because of it's story means you will also encounter similar apprehension when you sell it. The number of potential buyers decreases. As the number of potential buyers decreases, so will the price. jmo.
     
  14. Skidkid

    Skidkid F1 Veteran
    Owner Rossa Subscribed

    Aug 25, 2005
    9,547
    Campbell, CA
    Full Name:
    John Zornes
    Yes 6.1% plus 7% GST and that assumes that you can import the car. I am not well educated on Canadian laws but I can tell you the gray market in the US has a lot of potential pitfalls. You could absorb everything you saved and then some if you hit the wrong roadblock. AND that doesn't even begin to account for the hassle factor or the potential discount on resale because it is gray market.

    As for stories all I can say is get real. There are at least 100 reasons that an engine could have been replaced. How about a failed variator and Ferrari replaced the motor under warranty. Having a motor replaced is no more of a story than having replaced a window in your house or car; better not buy that house because it had a broken window once.

    If you like the car, the price is right, and it has a clean PPI get it. There are 1000 opinions here and most from people who don't own a Ferrari. Good luck with the purchase.
     
  15. ace_pilot

    ace_pilot Formula Junior

    Sep 6, 2007
    921
    Long Island, NY
    Full Name:
    George
    I would use a broken "car window" to a broken "house window" comparison. A failed engine is a big deal, IMHO. If you have to explain it, I would really have to love the car to listen. It's a minus for me.

    Ace
     
  16. Back Marker

    Back Marker Formula Junior

    Aug 26, 2006
    545
    South
    Full Name:
    Tom
    Go ahead and pay a price not 'story discounted' for a car with an engine story. When it comes time to sell, tell us how the sale process goes.
     
  17. blackbolt22

    blackbolt22 F1 Veteran
    Silver Subscribed

    Sep 25, 2007
    5,808
    Boca Raton, FL
    Full Name:
    Mr. Anderson
    I don't think replacing with new engine and new transmission would scare me away if all else is well and everything is documented and the price is right. A new engine is a new engine. The car has not been wrecked, repainted, etc.

    Go with your gut feeling.
     
  18. teknikl

    teknikl Karting

    Sep 16, 2009
    62
    There are no accidents on file... the dealership leased the car to a guy and he damaged the engine to the point that rebuild was > replace. that's it that's all...

    carfax/carproof is clean as a whistle.

    no story with this car really except it has a brand spankin' new engine...
     
  19. beng208

    beng208 Rookie

    Feb 28, 2008
    19
    Check with james Simpson on the Ontario thread to see whether it would be better to import a car - no affiliation but he seems knowledgable and well thought of by fchatters on the Canada- Ontario thread
     
  20. teknikl

    teknikl Karting

    Sep 16, 2009
    62
    It's a little too late for that, I just wanted to make sure nobody was calling this a huge mistake... I think I'm all good at this point. see you all in this F360 forum after tomorrow!
     
  21. Chupee

    Chupee Formula Junior

    Jul 10, 2009
    832
    Between Trust funds
    Full Name:
    Blair
    For me wouldn't touch the car is it was $20,000 UNDER market . The previous owner DAMAGED the engine so bad it need a new one . talk about a damm story. Ferrari buyers are a special breed When you sell it's the white elephant unless it was a steal Too many cars that were NOT damaged by some knucklehead Ill say a prayer fpr ya
     
  22. Wolf539

    Wolf539 Rookie

    Jun 24, 2009
    11
    Chicago 'burbs
    I couldn't agree more. While I'm new to the Ferrari market and just started doing my pre-purchase research on 360's I wouldn't even consider a car with a story. Especially at that price. If you ever try to sell it I think you would get a rude surprise...

    There are plenty of nice cars out there right now; my advice would be to be patient and wait for the right car.
     
  23. gandalfthegray.

    gandalfthegray. Formula Junior

    Jul 18, 2006
    692
    Pinewood, MN
    Full Name:
    Steve
    Is it a 'new' engine or a 'different' engine?
     
  24. tbakowsky

    tbakowsky F1 World Champ
    Consultant Professional Ferrari Technician

    Sep 18, 2002
    19,970
    The Cold North
    Full Name:
    Tom
    You guys are a bunch of ball washers. Buy the damn car and enjoy it. New engine out of the box, and transmission?? GREAT!! YOU HAVE NO WORRIES..You have pretty much a new car..the drive train is the most expensive thing to repair..and your car has a BRAND SPAKING NEW UNIT. The rest of you..SHUT THE HELL UP.
     
  25. Wolf539

    Wolf539 Rookie

    Jun 24, 2009
    11
    Chicago 'burbs
    And here I thought this forum would be a little more mature than the Corvette site. Thanks for immediately proving me wrong Dr. Ballsonachin!

    Not a big fan of divergent opinions huh?
     

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