Hi Everyone. I'm at the stage where I've saved up all my life and am looking at getting myself my dream car. Up to now I've been a Ferrari man all my life and with around $130,000 to spend I was looking at a manual gearbox 360. Problem is that this will not exactly be a daily drive but a car that I will often drive clocking up around 10,000 kms a year and I'm worried that my income is not high enough to keep up with the cars maintenance and insurance. Last thing I would want to do is drop all my savings on this car and not be able to afford to run it. I've been reading up a lot on this forum about the costs of ownership and have generally been horrified by the huge costs associated with ownership - major services at 15,000 / 30,000kms costing around $8000, Complete Belt change every 3 years !!?!?!?! apparently these can cost around $4000 for replace. The clutch apparently needs to be changed every 25,000kms, anywhere between $7000 - $10,000. Full fluid changes every 2 years - $2000? Then there's insurance, I haven't really started looking but can't imagine it would be cheap. These prices seem extremely high and the parts for these cars seem to need replacing very often. Are they really that delicate? Are there any Australian 360 owners out there than can give me some realistic prices what an Aussie workshop would charge? Any prices for insurance? Will the car run like crap if its its driven sedately most of the time ( I'll try and get it out for a thrash if I can but realistically our Aussie roads have speed limits ). If it helps I'm Adelaide based, aged 35 with a perfect driving record. Just trying to get an idea of the costs before I give up my dreams of owning a Ferrari and just go out and buy a Porsche which seems like the more practical option as they can easily be a daily drive in supreme comfort and cost very little to maintain ( comparatively )
I would suggest a 355 but it means engine out at least every 5 years to change the cam belts (although hand books say every 3 years). MAIN THING.....whatever Ferrari you decide on don't buy it with an idea of HOTTIng it up later. Buy the car for what it is. a 355 will never be a 430. And a 360 will never be a 458. And none of them will ever be an F40
Why do you want to go and spend ALL of your dosh straight away? Have you driven any Ferrari,s?? You may find you don,t like it/them or in some cases actually fit You could perhaps start a little lower in spec 308/328. .02c
take a 355 for a test drive . Try both the manual AND the F1 gearboxes because they're very different. THEN ask us questions about costs and insurance etc. Etc. Also try a 360. Me personally I like the 355 better
I don't mind a 355 but I've heard that if you want reliability and cheap maintenance then this is the last model you should choose. A 360 ( at this price range ) is the most reliable and cheapest to maintain. A 308 would be great but not the sort of car I'd want to drive 10,000kms a year in. To be honest my dream Ferrari ( outside of an F40 ) would be a Testarossa but again this model in particular is expensive to maintain. I'll definitely take a test drive prior to buying but I don't want to waste anyone's time if I don't get maintenance costs first. Lets see if I can afford it first before driving it.
The question here is not what Ferrari to buy unless one particular model is suddenly cheaper to own and maintain than another which I don't think is the case. From what I hear every Ferrari requires expensive and frequent maintenance so lets not make this thread about what model I should buy. Can anyone give me some realistic prices and scenarios related to the ownership of these cars? For instance can you delay the belt change to 5 years as one member mentioned or does it have to be 3 years? Is there a mileage limit for the belts? Does the clutch really only last 25,000kms and really cost $7000 to replace? Like I said I've been looking at Porsches as a comparision and they only need an oil change once a year ( $500 ), fluids every 3 years ( $1500 ), clutches last 100,000kms and only cost about $2500 to replace. There's no belts because they're chain driven and you may need to replace the tensioners at about 100,000kms ( $1500 ). These figures are significantly lower than a Ferrari and more the maintenance costs that I can actually afford. Oh and Insurance is surprisingly cheap.
Sounds like you might have more fun/less stress owning a Porsche. If the thought of dropping $20-30k for mechanical repairs stresses you out, then don't buy a Ferrari (you could easily spend this amount on any of the Ferrari models)
I don't think I'd have more fun but certainly less stress. Don't want to give up my dreams without getting some advice first though. Yes dropping 20-30k on repairs stresses me out but is that a realistic figure that is commonly spent? Both cars can have horrific repair bills but lets say mechanically the model is good and doesn't need repair, whats the cost of basic maintenance?
I think you should budget for about $5k/year. And yes, if any of the major items craps themselves, you will drop big $$$$$$$$. 360's are 10 or so years old now and even good cars will need something apart from basic maintenance done each year. Been said here before many times "no such thing as a cheap Ferrari"
At least the electrics are a minimum on the 360 right? Could always get a $40k Mondial and bank the rest of the money for the inevitable
Have you had a long hard think about why you want a Ferrari? Have you owned Italian cars before, or have a real interest in the technical aspects or their history? Make sure that you want one for YOU, not to impress others - the opinion of Ferrari owners held by the general populace is not pretty....but often right. $500 for a Porker oil change? a dry sump V12 costs $270 plus an hour of my time.
There is another point of view that, while it may not worry you,is a certain fact if you,ve been watching the adds;the tear up quotent.Along with the Mondial the 360 is dropping value like a rocket up it,s date. I reckon by the end of the year you,ll see $100K 360s. Are you prepared,once you,ve had the car for that period(and possibly have spent,say, $5-10K on maintenance),that you should have possibly looked laterally at your purchase. It appears a few folk have suggested the 355(and with good reason),I would suggest you take on any/all of the info given on this forum before you write the cheque.
A well sorted 328 would have to be one of the most reliable and less expensive Ferrari that you could get...and going by the average advertised price,people that own them know it as well..The fact that they are advertised for close to 355/360 money must mean something.The workshop that l go to always has plenty of 355,360 in there being worked on..I asked the owner how come he doesn't service many 308,328..is there because they are a bit rarer that the the 360/355 cars...He replied that the combination of rarity and that they dont break down as often as the other cars mentioned.
For insurance the only way you are going to find out an exact number is calling the insurance companies. The street/suburb the car sleeps at night makes a big impact on how much you pay a year unless someone here lives on the same street it's pointless asking here. Just give Shannons a call they will give you a rough estimate then with that number you can start shopping around. If the costs end up being too much for you, instead of "ending" the dream why can't you just delay it a few more years? Buy a Porsche or even a R35 GTR and then look at Ferrari in a few years time Anyway Good Luck
Given that you are in Adelaide may I suggest you go and speak to Mario at ITAL service in Bowden. They look after a number of Ferrari's (including my 348) of all persuasions and ages and should be able to give you some good, honest advice regarding their experience. They also look after a 360 challenge race car and I believe they think quite highly of it as a pretty reliable piece of kit.
