Has the F1 360 Become a sub 60K car?

To go back to prices, they are definitely falling. I spend a lot of time looking at deals online (as I work on all my own cars and have the proper equipment to do so) and the average 360 is hovering at $60k. Seen a couple really well sorted cars with 23k miles in this range. Even more at $65k. Of course you can find them above this all day.

So this is my argument. If a car has 23k and another similar miles or less even..why would I buy "your car" over the other guy asking $80k+ when they both have similar specs etc. Of course some ppl baby their cars in maintenance and the way they drive it, all factors of course that have to be weighed in.

The market though I feel for entry level Ferrari's has not hit bottom. 308's are still grossly above the value I see them at (GTS's). On the flip side, as more drivers come into the driving game every year, more buyers etc I think our cars will continue to climb, basic metrics of there not being a lot of exotics out there.

 

You sure could take a bite out of that 5K if you had an interest and the skills to do a few things. Maybe you arent the only one in your area and you could find a couple guys like you and start a collective that do the simple things, like oil changes and brake and trans fluid flushes, etc. Oil changes are really fun on the 360 if you are set up right. Sounds like you just became an empty nester? Maybe you can turn a kids room into a workshop!

 

Wow, that is one helluva spread. If you're in Florida, you know the A/C in a 308 is a bad joke, right?

 

This is just not reality. I do not know where you are looking at cars but you arent getting the correct picture. I know ebay is not the gospel for cars but they only had 1 car that was 60 K a couple days ago when I checked. Cars.com is a pretty good cross section. What are you seeing there?

Checked for you there are 12 cars of 72 that are listed for under 70K, 2 are 59K. I am not sure that makes an average of 60K.
Checked again (real fast as I have dinner to make...I am thinking some simple pasta) there are 18 cars over 100K.

 

I'd buy 10 5K mile gated 2004 360s for $95K each!

 

I've been following the car market for many years now. It's a hobby of mine and I enjoy predicting if certain cars will become 'the ones to have'.

My theory of the current 'soft' Ferrari Market is as follows. 2-3 years back, the market was at it's peak and prices went through the roof. A lot of people paid crazy prices for Ferraris (308s, 328s, 348s, 355s and Testarossa). Even 'bad' ones sold for strong money. Things were good for a while and now that the 3 year cycle for belt maintenance is upon the owners, they are faced with a significant expense. This may be over and above what they've already invested in their cars. Compound that with a 'soft' market and I believe there are a lot of buyers who want out, particularly those with deferred maintenance cars. This has likely affected the value of the 360 as most people do not know that it is a less costly belt service.

Porsche prices, on the other hand, remain pretty strong. Why? You can park one for 2 years (or more), decide that you want to drive it and simply get in and go. Drive it to the mechanic for an oil change and you're good to go. Strictly an opinion, so no one jump of me for it!!!!

 

A good place to start is the thread below,
http://www.ferrarichat.com/forum/360-430-sponsored-yellow-compass-group/233311-official-all-strange-things-my-f1-equipped-ferrari-has-done-me-thread.html

Now back to our regular channel. ;-)

 

I had a lot of problems with mine but I don't think that's typical. If you enjoy driving an F1 that's what you should buy. If you get the car you love you won't mind spending money on it.

 

Like I said, you can find them for over 80k all day.

And post all the cars that I am prospecting? lol...ok.
I will throw you a bone though, some great sites across the pond and I never use cars.com

 

I'm not sure why the difference is so much :-/

I've certainly done that on eBay for other items. You do get carried away if you're not careful. I can imagine these auctions are just the same.

 

I have been researching 360's for the last few months and just purchased a 2001 360 Modena Coupe from a private seller for $80K. Very few out there for under $70K, and some of those under $80K had incomplete service histories or Carfax issues.

 

Thanks for that info Tridder. It appears that well sorted and "real"cars are still in the 80k ballpark. Thats great news.

 

I wish.

 

https://www.outletcars.com/single/?id=22&body_type=2dr%20Car

Not red, no shields, Daytona seats, and 23K miles.

I don't know anything about the car or the dealer but with a good PPI, I'm sure it could easily be had for upper 50's. Too bad it's on the wrong coast or I would explore deeper. 23,000 miles is low, these cars are reliable if driven frequently.

 

I really believe the "there is no cheap Ferrari" saying, you would be paying the money you are saving now later with maintenance.
I am sure there are good cars around that are in really good shape but even a PPI will miss something.
I believe the best course of action is to purchase a car from someone who has been taking care of it for the last (at least) one year and the car has been driven, no need to have maintenance records since day 1, you only need the last 1-2 years.
You can easily find out if the owner cut any corners, if the car was properly serviced, etc.
And what better option than purchase a car from a fellow enthusiast (like a Fchat member) I saw several cars before pulling the trigger, I finally did it with a car I found here, the whole history of the previous owner getting the car PERFECT asking here and there, and he only owned the car for like a year but he drove it 10k miles or so.
For me that is the best peace of mind, and I think it demands a premium over a car on the internet that might be great or might have problems.




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Definitely better with more annual use.

 

its crazy! has bottom has fallen through, are they in fee fall? there are spectacular cars being listed around $60K... many are listed as 6-speed manuals.

meanwhile, there are no gated/manuals listed below $100K that I have seen...

when the "markets are crazy" its best not to play! who knows where this goes...

 

Here's a nice one (manual though) listed on EBay:

2004 Ferrari 360 Modena Coupe 2 Door | eBay

Seems like a really nice car.

 

If people really do love manual, why not convert them? Someone here convert his for under $10k! Don't tell me because it is not original. He did it all with all original parts and not a single drill or cut.

 

Do you have the thread of who did this. I think it is a good idea!

 

http://www.ferrarichat.com/forum/showthread.php?t=538999

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I read through his thread and one thing I gathered from it is that the biggest limiter to 360 conversions is the lack of used 360 gated parts available. He mentioned that it required a lot of time and effort to search for used gated 360 parts, and that he had lucked out to find a complete set I believe. He also mentioned that the cost of new parts for the conversion would be cost prohibitive. I can't imagine Ferrari still manufactures parts for the 360 transmission? Would Ricambi or others still sell the new 360 gated transmission parts?

So with a very limited amount of used gated 360 parts and the hard to locate nature of these parts, It doesn't sound like conversions will be a widespread option for many F1 360 owners.

 

Parts was not that much as it was not the whole transmission was changed. You can go to ricambi website and go through the parts.

 

Hello Andrie

I'm the Fchatter that did the conversion back to gated. Yup, no drilling / mods and all genuine parts.

Though seem like a straight shot I wouldn't recommended new parts for obvious reasons. Just the Inner and Outer Gearbox Control parts (not all of the parts is also available) is already hovering around $9,000 total for new parts. Your just halfway in the conversion and your already at $9,000+ dollars! Not a pretty penny. ;-)

It only make sense cost-wise if your able to find a 360 gated that will be parted out and has ALL of the gated parts in tact. I've only seen a true complete set once in 5 years. Pretty hard to come-by.

 

Thanks for your input! I tried to sum up what I had gathered from your thread, but it certainly makes more sense to hear about this directly from you with all of your research and experience with this topic.

So based on what you said about having only seen a true complete set of gated 360 parts once in 5 years, would you agree that conversions of F1 360s to gated are going to be very limited in number overall?