Considering buying a Modena, any ADVICE?

Hey fellas!

Hope all is good. This is my first post although I'm a lurker. I love Ferrari as a whole, and I also love the Gallardo (though not the rest of other Lambos!).

I'm considering buying a new car and I spotted a Ferrari Modena on sale. The car will be used by me and also my old man, and it's a car I (we) want to go for rides etc

My most favorite Ferrari is the F355 and the F355 and the Lambo Gallardo are the ones I've fallen in love for a long time and considering buying. However, I recently spotted this BEAUTIFUL Modena; it's on sale because the owner died.

The owner had other luxury cars and only used them for few rides. Thus, the Modena is almost brand new! I've attached the pics and it so happens that I've fallen in love with the Modena now. It's a beauty and the price is 69,000 euro, which is some 90,000 dollars. We are in Spain and the weather is great year round so I'll be riding this beauty year round.

The car only has 4,5000 miles and the F1 box has been revised (which I know is always an issue to look at when buying a Ferrari). The only issue is the automatic gears with the paddle, which I hate as I prefer manual and I love feeling the power through my hand with the gear. I tested the Gallardo and almost had an orgasm.

The car has been only a few days on sale ,and it's a good deal as the owner had the Modena treated very well and hardly used it. The side profile of the Modena is stunning and I'm going to the dealer to test the car in a few days.

Do you think the asking price of $90,000 is a good deal for this Modena F1 with 4,500 miles? The car is literally unused and brand new. We trust the dealer and know him, and he's keen to lower the price as I can pay the sum in cash.

I'm convinced with this beauty I've now fallen in love with and I want her; my old man also likes it and I want him to use it too. I'm thinking $75,000 and it's a deal. I have seen asking prices online for the Modena and they are about $60-70,000 for a Modena in the 40,000+ miles and with several owners.

Would appreciate any feedback gentlemen. I can post more pics of needed. I'll be seeing the dealer in a couple of days and if I'm convinced I'll buy it as I have been looking for a new car for a couple of months and was undecided between a F355 and a Gallardo.

Thanks!

P.S: we live high in the mountains with lots of tight bends and hills that don't have good pavement. Can a Modena be in this environment? It's only the entrance to my chalet as we live in the mountains; I'll use the Modena in proper roads except for the 2 mile entrance to my house so perhaps I'll need to uppen the car for the entrance.
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Get a thorough independent PPI. A car with so few miles makes alarm bells ring.
A 2 year old car with 50k miles is generally a better car than a 10 year old car with 5k miles. Remember these cars have more problems from sitting than from being driven.
If the car needs nothing, go for it.

 

If you haven't already read the buyers guide at the top of this section - beyond that if you want to do it just do it altho many might counsel against a car that has so few miles

If you are worried about the local pavement try a test drive perhaps - if its any consolation a 355 would be even lower

Also are there really enough roads on your island Teneriffe to make it worth owning a Ferrari ?

 

The best Ferrari is the one that had the most recent service done, not the one with lowest miles

 

Thanks, going to read it carefully.

Yes, we live up in the mountains and there's about a 1 mile path which leads to my chalet that has bad pavement because my house is in the forest. I have 2 parking lots (one hosts 5 cars, the other hosts 3 cars) and I will be contracting someone to level the entrance of one of the parking lots. I'll dedicate the whole parking lot to this beauty and I'll work on it as I really want to know it.

I actually don't live here per se as I'm constantly moving, but I want to get this beauty (or the Gallardo) to be in this house and use it when I'm here or have my old man use it. There's plenty of tight bends here; we have lots of good rallies. Pavement not so good but I already know some good paths to use to really fell the Ferrari.

Interesting observation, thanks. The Modena is a 2002 model by the way. Like I say, the owner was an old man who loved luxury cars and he died recently. They literally have a Mercedes AMD there that is a freak and was owned by this man too.

I'll ask about the service as it doesn't say it in the description. It just says it is just about untouched.

 

IMHO $90,000 is a bit on the high side, but I don't know pricing in europe that well.. Low miles, meh. As others have said recent service is better. I predict issues with check engine lights, sensor issues and electronics with that low mileage.

My biggest concern is that you're going to be making quite a few "sacrifices" with this car. The first is that it's not a stick shift. Some here will say "I used to be a stick guy and bought an F1, now I LOVE the F1". When I bought my car I wanted a stickshift, I bought a stickshift, and every day I drive it I'm happy I didn't compromise.

If you really liek the 355 or the Gallardo, as it sounds liek you do, then why don't you get one. If the Gallardo really tickles your fancy, then get a Gallardo. Get early car with some miles with a sitck and you're golden. I wouldn't compromise that big on this kind of car. The ONLY compromise that I made with mine was that I wanted argento nurburgring but my car turned out to be a red car. (mostly for the wife not wanting a "red car") Now we both can't see it in any other color.

Don't compromise so much...

 

I keep reading where people say a low mileage is not good. I purchased a 2002 360 with 6k miles last year. The car is in new condition. Not a mark, rock chip, wear, etc., anywhere on the car including the seat bolsters. No sticky buttons, dash or any other issue.

I have owned the car for one year now and have not had a single issue! The car is as tight to drive as new, their as absolutely no rattles anywhere, engine is so clean you get eat off it, etc., etc.

Purchasing a low mile 360 certainly worked for me!!! I will really enjoy it when I go to sale as low mileage 360's are coming harder and harder to find!

 

+10 - Spot on - Get your dream - F1s/EGears are awesome from a technology standpoint and great on a track and I have nothing against them but if your DREAM (as mine was/is) is the feeling of a gated shifter and feeling the clutch engage and mastering (or at least attempting to) the perfect heel/toe down shift then hold of an get a manual. There are plenty of very nice 6-speed 360s out there as well as Gallardos. As an owner of a manual 355 I would advise considering the 355 over the 360 if that is really what you want - I went through the same conundrum between 355 and 360 and by not jumping on the first one I saw (either) I ended up with an amazing and well-maintained 355 which is what I truly wanted. Not that I would not have been happy with a 360 but the 355 was the dream.

Good Luck - Be patient, realize buying any car has some risk associated with it - make sure you have some money in reserve for the unexpected things as well as pre-budget for your majors - then buy it - DRIVE IT and enjoy the hell out of it!

Cheers

 

One of the first things I read in your post was that you preferred a stick shift. Do not settle. The Modena you're looking at is nice BUT... That kind of money will buy the stick shift you want. Wait!

 

can't comment on pricing in europe since the car supply and taxes differ from here, but as others said i'd say drive it, then decide if you want to proceed with a PPI. The rest will fall into place. That's a great color combination so when you do decide to sell it the resale value will hold up well.

 

Thanks so much for the answers so far, folks!

I travel a lot and relocate to different countries, so my house here is the place I come to for months at a time to work on my projects. The car will be used by my old man for his showing off with my mum and turn up to nice places for shopping and dining. He is buying a Jaguar for his daily commute and we've talked about having a beautiful (unneded ) car in the garage. My father is cool with the E-gear as he just wants something nice to ride with the ocean by the side; I want the car to ride it like Enzo engineered his brand to be. However, I don't spend enough time here to justify having something that costs what an apartment costs here.

I never wasn't fond of the 360 as I love the more aggressive squarish lines of the 355 or the Gallardo. However, when I say this 360 on side profile I somehow saw its beauty. Furthermore, its butt is beautiful, and the asset I like best on a woman is the butt too (not too big, certainly not small, just firm, round and stands out). That Modena sure got a butt!!

My old man and I are going to visit the dealer and test it. I read that it's best to have an independent mechanic to have a look, and I'm happy spending the money to get it seen by him. Unfortunately, there are hardly any Ferrari mechanics here; I tried to contact a forum member who lives here, so hopefully he can reply and tell me who to go to.

The e-gear really doesn't do it for me, and I'm starting to have seconds thoughts. I have the money to pay in cash, even the asking price, so money is not the issue. I see this as "my car", something that I can tweak on the weekends and then take it for a ride and when I rev that engine in the middle of the city and everyone looks, I know that noise comes from an extension of me. Unfortunately I don't spend enough time here in this house of mine and I want my father to use it and take my mum for a spin, but still, it's my baby, and I need a gear stick there to transfer the power.

I know I'm romanticizing the car too much, but I don't want this car just to show off; and I'm sure you F owners know this feeling of the car being like an extension of you, not just an object you can rev.

My all-time crush is the Gallardo, and I'm happy to say that here, but I love Ferrari as an oldtime brand that breathes racing. I'm not a fan of racing, and I respect traffic rules always (I even have passed the tests that the police have to pass to ride police cars). But I admire Ferrari and the sound of a V8 from a F355 (or any F, for that matter) is like beautiful music and I spend part of my free time browsing Youtube videos and "tasting" the engine noise.

Perhaps I'm not just ready to buy an F, as in buy "my F". I have the money, which is why when I say this Modena beauty my eyes went off (and the dealer told my dad about the F as he knows I've been shopping for an F or Gallardo). I don't want to buy straight off the fabric because I'd rather spend my money in other investments, and a second-hand car that has been taken care of is like an aged wine.

Like I say, I'm going to talk to the dealer and perhaps test drive the car. I'm thinking to wait, especially since you guys are mentioning the e-gear thing and how much it impacts the driving experience. If this beauty had a stick shift, I'd very likely buy it next week. But, to me, not having a stick shift is like having a woman with a beautiful butt who doesn't know how to use it in the bedroom. And I respect all you folks with e-gear; it's just that it doesn't do it for me (and don't get me started on automatic gears!).

I'd still appreciate more input in this thread as I'm certainly going to see the dealer. I'm just worried that when I sit in that leather seat and put on the 1st gear, I make an irrational decision and buy it on the spot

 

Thanks for this reply.

The only issue is that I haven't seen any good 2nd hand F355. I've seen an absolutely stunning 348 but it is priced too low and mentions nothing about repairs. The car is heavily customized too which sort of puts me off due to repairs.

I've been tracking the advertised F348s and 355s in my area for about 3 months as well as the Gallardos. Nothing that interested me as there aren't many advertised. When I saw this beauty and was told it was on sale because the owner died, then my irrational side started to take me. Sure, it looks like a great deal if it doesn't need any repairs, but the e-gears...

 

Same experience here. Bought a 2001 with 7k miles and not a single problem. Literally a new car. Why buy one with 50k miles of wear and tear ???

 

Yes, the cosmetic condition will be far better but how many miles have you and Rob 4092xx actually done in them?

 

My advice: testdrive a Spider aswell (and a 6-speed if you can).

You live by the ocean and the mountains, the perfect environment for a Spider

 

Same here. I bought a 2004 with 3500 miles a year ago. It basically looks and runs brand new. I now have about 5300 miles.

 

So that you can actually enjoy it.. First ding or two or three doesn't knock the price $10,000. Park anywhere you want and enjoy dinner. Try this: buy it for $x, put 10,000 miles on it and then try to resell it. 5k mile car becomes 15,000. 40k mile car becomes 50k. Latter car will depreciate less buy for 55, sell for 50. Also, no guarantees the low mileage will lead to no problems. Alot of posts on these pages *ahem* from people who have low miles on their cars... It's not just high milers..

 

oh don't worry, I'm enjoying it..

I didn't buy it to make money either so I am not fussed by depreciation.

I wanted one in as best condition as possible and that is why I bought a low mile one. so it would kinda feel like a new car.

Regarding problems, it's just pot luck with these things. I don't lose sleep over it. If something breaks I'll fix it.

 

Good for you.

 

Hi fellow Ferrari enthusiast. Two years ago I was in your position and ready to buy a Modena. Then a tried a 360 Spider with manual transmission and I discovered that I love the convertible, especially since you live in Spain. Question ?? would it be feasible to buy the Ferrari in the U.S, I'm thinking of Spanish import tax ?? Friends of mine just sold their 04 360 Spider for $70,000, so you may want to check that out, remember it is a buyers market right now.

Good luck.

P.S. I ended up buying a 05 F430 Spider instead and I absolutely love it.

 

Good attitude towards the car, similar to mine, but I bought a "high miler" .
My year 2000- 360 was about $20k less than a newer 8k mile garage queen, with 28,000
miles, and frankly I would of paid the extra $20K for a car that struck my eye....
Being my first Ferrari I did not mind having that extra in my bank account in case
something happens, and so far have only bought some accessories.

My main strategy was a car that had recent maintenance all done, clutch, brakes, tires,
water pump, belts , etc. Found one that had all these items just done, but a 28,000 mile
car with a scraped up front bumper and slight weeping on cam covers.
Had I found a newer 8000 mile one with all maintenance up to date and pristine bumper and
no weeping covers, I would of paid the extra $20k or so.....

Each car is different, some low milers have issues, some higher milers do also.
I would follow the strategy of not worrying about miles too much, but evaluate each car
individually, and look at overall condition, last maintenace and go from there.

Interestingly now that my 360 is being driven regularly I do not smell that burnt oil smell
that it had when I got it, from weeping cam covers, so maybe there is some truth to driving these cars to keeping these beasts alive.......

 

I own a 355CH and a 360 spider. Both are 6 speed manuals. I also had the opportunity to borrow a friend's Gallardo for 2 weeks in Florida a few years ago. I'm sorry to say that I did not like the Gallardo at all. It just didn't have the "soul"of a Ferrari, and I found the handling to be just "ok" but nothing great. It is a very pretty car so I can understand your desire for one.

The 355 is a fantastic car, beautiful, quick and with fantastic handling. But it is small, and if you are bigger than the average man it will not be comfortable. I had to have a special seat made bolted directly to the floor just so I can drive it (I'm 6'4" and 285 pounds). But you can get a very good 355 spider for around $60,000 or a berlinetta for $50,000 where the best Modenas will be around $90,000. Why not go with the 355 convertible for $30,000 less? You can always sell it and move up to a Modena, but if you like open-air motoring you will need to get the 360 spider where the best examples are over $100,000. It may be a buyer's market for a few recent models, but these are still not cheap cars. These prices are from Sports car market magazine and represent final selling prices. I have never seen an '04 spider go for $70,000. There must be a story behind that one.
Good hunting!

The 360 is a larger car in all respects, longer and wider than the 355 and a very comfortable long-distance cruiser. It also has a bit more power than the 355, and is lighter, so it's a faster car. It's extremely stable-I just got back from a Sunday cruise and I was doing 100 mph in upstate NY while it felt like I was doing 70. When I slowed to 80 it felt like I was crawling along.

You can't go wrong with either of them, but definitely stay away from the 348. They are not great cars, and their prices reflect this. While the 355 looks set to be collectible in a few years, the 348 will never be.

One other item- If the car is going to be in a salt air environment, like Tenerife, the 355 may get rusty, as it is steel construction. I had this problem when I kept my Dino out at my beach house. These cars don't like humid salt-air environments. The 360 however is all aluminum so you will not need to worry about rust. Also- a belt change on a 355 requires removing the engine and costs about $4-5,000 USD (although I have heard of a modification that can be made allowing the belts to be changed without removing the engine) while the belt change on a 360 is done through an access panel and costs only $2,000 USD. And these belts need to be changed every 3 years, even if you put on no miles! So you need to factor the higher maintenance costs of a 355 into the equation.

Whichever you decide on, hold out for the 6 speed. It's much more fun than a paddle shifter and you will need fewer clutch changes (I am on my original clutch at 21,000 miles, with less than 10% wear). The paddleshifters seem to eat clutches for breakfast.

Best of luck to you. Make sure you get the service records, and that the belts have been changed every 3 years or 30,000 miles (whichever comes first). And have a Ferrari shop do the pre-purchase inspection, since most mechanics don't own the SD-2 computer which is needed for a thorough inspection.

I agree 100% that I would rather buy a higher mileage car with all services done than a lower mileage car. These cars need to be driven to keep them running well. While you might find a low mileage example and get lucky as posted below, the odds are not in your favor.

 

Τhat is definately an unwise comment, very negative for someone who wants to join the Ferrari family.
A correct clutch replacement along with proper PIS settings and most important, proper driving will save the clutch from an early disaster.
For me F1 is the future: Faster gear changing and ability to drive with both hands on wheel, which is useful especially on curvy roads

 

Mike- with all due respect, I own a number of Ferraris and have owned others. I had a 360CH with paddleshifters. I have tracked and raced these cars for 11 years, and am friendly with many other owners. I listen to what they say about their experiences with 360 F1 cars.

Your profile says that you do not own a 360, so I'm wondering how much real world experience you really have with these cars. "Proper driving" will not save anyone from the need for clutch replacement as long as slippage is controlled by a computer program rather than a human being.

I am unaware of any 360 F1 that has made it to 20,000 miles without a clutch change (or two, or three). I have 21,000 miles on my 360 6 speed and still have only 10% wear. My 360CH car on the other hand, had 2 clutch changes in 3 years. The point is that I control how much slippage I want, not a computer program.

I would hate to see a new owner get burdened with unanticipated expenses. And since I have driven, raced and tracked both types of cars (and paid the bills), I believe I have the right to my evidence-based opinions.

And if anyone contemplating buying a Ferrari can't drop one hand to shift, even on the windiest roads (like the ones around my house), they have no business driving any high performance car. How do you think people drove Ferraris (or Maseratis, Lamborghinis, DeTomaso's, etc.) from 1949 to 1999, when there were only manual-shift cars?

 

Times have changed.

What choice to people have that want to drive a new Ferrari. Thats right. No Choice..

The cars with sticks are starting to get old now. The purists will be confined to driving old Ferraris, as nothing comes with sticks anymore.