First Time F Buyer

Hi everyone, I have been lurking around here for about a year now. I am in London Ontario and I currently have been driving a Gen 3 Silver Viper Conv for about 6 years. I've been looking to move out of it and into a 360 Modena or Spider, F1 or Manual.

I have come across two that I like because the price fits my budget (under 70K) The one in particular is an 01 yellow spider. After some research alot of what the dealer has said appears to be misrepresented. I wont go into those details now but here is a link to the car. Does anyone have any info on this car:
http://wwwb.autotrader.ca/a/Ferrari/360/TORONTO/Ontario/5_18231630_20100923135800067/?ursrc=hl&showcpo=ShowCPO

I understand that at my price point I am sacrificing something and I am ok with that. I would also be thankful if the members here know of any cars in my area that are or may be coming up for sale. Thx you! Cooper

 

Cooper, I don't know what prices are like for these cars in Canada, but her, you will be hard pressed to find a 360 Spider for under $70K USD that is worth buying. You may have better luck limiting your search to coupes.

Also, if you are stretching your budget on this, you may want to consider limiting your search to manual transmission cars, as any potential issues with an F1 can get expensive very quickly. I'm not saying that is likely to occur, but you may want to factor that into your decision making process.

That being said, this car is available at a dealership close to me, Lake Forest Sports Cars. I have seen it in person, and it is stunning, however I know nothing about the car's mechanical condition. I would be happy to help you look into it if you are interested (I have no affiliation, BTW): 2000 Ferrari 360 Modena F1 -

It has been there since the summer and with winter coming, you may be able to make a good deal.

Good luck with your search! Spiro

 

Should also place a WTB ad here.

 

Welcome to the board

- Former St. Thomas resident and son of a UWO alum.

 

Hey Cooper,
Did you find your 360 Modena? That yellow 360 from your link, it's still up for sale right now. I'm also looking for a 360 yellow convertible with manual shift.

 

Hey all,

I am new to the boards, but have been lurking for quite sometime. Same dream as many, to own and enjoy a rolling piece of Art.

I found a car the seems to be the right combination of Model, colors, price, etc. The mileage is arguably a bit low, but you guys all know better than me.

So, to the point made in a post above about a used 360 under $70K...here is the one I am considering;

2000 Ferrari 360 Spider

I expect to be getting copies of paperwork sent to me tomorrow and I plan on speaking with a rep from the garage that will be servicing the car (if i buy it) tomorrow. I am in Northern NJ and plan on using Classic Coach.

Long story short, on the surface the car looks great. I spoke to the owner tonight at length and he seems like a good, honest guy. I am excited and really like the car. But, this is as much an investment as it is fulfillment of a dream. As such, I can't be short sighted and buy a money loosing pit.

Any guidance, wisdom, etc. is welcomed!

And to the original poster - sorry to piggy back on your thread but I figured we could both learn

 

I thought I saw this car posted a while back on the philly CL. The car is about 20 mins from my house.

 

If you haven't done so already, go to the 360/430 section and read "Misery loves company". Good info/advise. The OP paid big repair bills to get his car right. I bought a car without going to see it in person. However I bought from a reputable Ferrari dealer and had a good PPI. No surprises when I got it home. I did a lot of reading and research before hand. I not saying you can't find a good car from a private individual or independent dealer but be careful and have car inspected by someone you trust. Good luck and remember the hunt is part of the fun.

PS. There is a lot of info on what potential problems to look out for on this forum.

 

yep. that's likely the same car.

 

Thanks! I am definitely familiar with that thread. The good news is that I am only about 90 minutes away from the car. So I plan to go see it in person. I also need to plan on getting a PPI.

 

What do mean by "investment"? As I'm sure you know from the forum, there is little indication that 360s (or most other modern ferraris) will be collectible or perform as investments. Along those lines "money losing pit" is relative - you certainly don't want to end up with one that requires extensive repairs representing an undue percentage of the purchase price, but the value will continue to drop and maintenance costs are inevitable.

Not trying to be negative at all, but it's good to be prepared for the good and the bad. BEst of luck on your search and may you find a great one!

 

Thanks Chris. Good point. "Investment" was a bad word to use. I have not owned a Ferrari in the past. However, I am hoping to hold onto and enjoy whatever i buy for a while. So, lets call it an emotional investment

Thanks again.

 

emotional investments are usually the ones that hurt the most!

When buying these cars make sure that you maximize your potential of resale, color, options, number of previous owners, clean carfax, and mileage are the most important things to look at. Blue car blue top not a very popular combination for resale so make sure you love it because others might not... not trying to be a downer just giving you my opinion

 

As a former owner of a 2000 360, feel free to PM me if you want to chat / get some insight about the car's strength and weaknesses (too much of either to type out -- we can chat on the phone if you'd like)

 

I also saw this car and was interested. What did you find that were issues. pm me if you can.

 

my first thought when reading this thread was run far away from a 360 spider for under 70k. that being said winter in the northeast is the time to go after cars like these, as i've noticed as much as a 10k discount to what the exact same car would sell for in the spring, summer, and fall.

that car looks pretty darn nice from the add. go drive it and report back. if you're still not sure get a PPI done. If it checks out that thing is an absolute steal for 65k.

i have a 2000 euro 360 coupe and it's been an absolute dream for the past three years.

 

Hi guys, I found my car. 01, red spider on tan interior. Should have it in my garage within the next 2 weeks.

As for that yellow one still on autotrader, stay away. That car has more stories and lies than you can imagine. I did my own car fax, and ran the vin thorugh 2 local Ferrai dealerships and I was shocked at what I learned to be the truth.

Anyways, the search was fun, I hope to see some of you out on the road this summer. Lou did you find a car yet?