Used 360 prices dropping quickly?

I've noticed this too in the UK. An early manual 360 M is priced at £60k, so the late 355 Spider models are roughly trading the same money.

 

IMO they will continue down as more people are looking to change to F430's. Yes - there's a waitlist for the F430, but the production numbers still means that there will be a lot of used 360's on the market - and more to come. How much further they will fall is hard to say. Another problem is that there are simply too many cars in the segment (Gallardo, DB9, Ford GT etc etc) which means even more used cars...

 

Which results in better chance of people being able to afford a Fcar. Hell ya I might be able to get one before 2020.

 

You read my mind! Get these suckers down to around $75, and if I keep driving a Honda daily, I may be able to get my 360 before I'm 30!

 

I see Stradales coming down also, just not as fast as 360's.
I think from now on it is a buyers market for 360,s, spiders, and stradales.

 

I was thinking the exact same thing - I am selling my 355 Spider and looking at a few different cars for the replacement: Gallardo, 360 Spider, or Maybe a VT Roadster...

I have been looking at various sites - do some recon on the 360 and what prices are out there. In the last month or two I have noticed a slide down in the price (of all these models).

The 360 - has been debated that the price might start going up due to people not being able to get into a 430 - due to a waiting list...

However - I think it will slide more - I think I have counted 400 or more 360's out there for sale - maybe more - it is hard to cross reference all the different sites and when they are listed in multiple places... Also the 2002 360's are coming off warranty (soon) - this will add to the market).

I am now seeing list price of 01 spiders as low as 159K - I do understand that they may not be the best example - as far as needing service, etc. but I would say the average price for the 01 and 02 is around 170K - 185K - which is much lower than we were seeing 6 months ago...

Then you look at Gallardo prices - which is hitting the same segment of buyers - a car that listed 1 year ago for 170 - 190 depending on options - can be had for 149K - 160K - and still under warranty. I think these will come down another 10K - due to the barrage of new 05's hitting the showroom floors - there are a lot of these out there as well.

On the Lambo VT Roadsters - 97 1/2 - 99's - these are now hovering in the very low range of 150K - 185K - of course this could be due to age of the car, and also with Murcies now in the low 200K range - not to mention the relase of the roadster...

What makes this interesting - you have many choices for cars in the 140 - 170K range at this particular time in the market... It will be interesting to see if these prices trend down a little more in the next few months.

 

I have been looking for a 360 6spd for 2 1/2 months now. I have looked or had someone look at alot of the 6spd cars that are on E-bay/Autotrader. There are several car forsale under 120k but most of them have high miles, no services done or are rough. There is a '00 euro car in houston for sale with 20k miles, no belt service and it was a rent car. I don't know about the F1 cars that are for sale because I wasn't interested in one. After talking to alot of my Dealer friends, they think the prices will move up a bit considering there is already a 2 year wait on the 430 and they are selling for 50-70k over sticker. I did get a '01 360 w/6k miles from the Ferrari Dealer in Dallas. It is a ceritified car w/all recalls done, belt service and a warranty. After looking through all the records, I really would be scared about getting a car that was not completely checked out. I was looking at a '00 360 coupe,9300 miles, 6spd at Bentley Long Island. They said they would sell it for 120k. After I shipped it here to TX., $1250, do the updates/service $5000, paint the front bumper$1000 and hope it didn't need anything else, I would have been in that car for $127250+/- . I got a '01 w/6k with a warranty and two sets of wheels for a little more...

SW

 

I am looking for a 6 speed spider and was told that prices will go up due to the waiting list for a 430. The rationale was that if you can not get a 430 the buyer would get a 360 instead. Problem with that logic is that most of the prospective 430 buyers already have a 360. I would not be surprised to see 360 prices drop on the order of 10-20% per year.

 

The sheer number of cars produced isn't going to help the 360 retain it's value. I can't wait!!

 

Although I do see alot of 360s for sale I haven't really seen much of a price drop for excellant low mileage cars.

 

I just received my latest F market letter. There are like four pages of 360's and three pages of spyders. Only about ten stradales.
Many people may be listing their 360's and spiders for high prices but how long will it take for the market to absorb all of these cars for sale. never I think. My best friend(a ferrari collector) feels most of these cars can be had for a great deal less.

 

my prediction,
high 80's by the end of this year on 1999-2000 coupes

 

I don't think anything under 100K will be seen for a clean 99 or much less 00.

But you guys are right there are hundreds of 360's for sale and it doesn't seem to effect the pricing as much as you would think.

Then again most people that have these type of vehicles are not in a rush to unload their vehicle in order to get another one so there is that angle.

I have been searching like a maniac and I can not find a clean 99-00 for under 125K and those are still w/o belt service and updates.

I am trying to make it make sense...but I can not.

-A

 

i just jumped into my new 360 spider, I almost bought used, butI got exactly the one I wanted. I figure mine will be good for 4 years+/-, and by then the 430 spiders will settle down as well. I think the used spiders will take a hit but I have full warrantly for three years which is far more important in my mind. I have instant gratification now.
MM

 

I think you're dreamin - unless its thrashed with 35K miles. Sorry.

 

No way... keep in mind that late model Ferrari prices drop substantially mid-winter when much of the US is not thinking about expensive sportscars... they are thinking about snow and road salt. The prices come back up as things thaw and people want something fun to drive in the spring weather.

 

decent 99s are going for 120k retail. That isn't going to change.

Art

 

I agree with Brian it seems that the end of winter there are always a very few cars which can be had for slightly under market but there is NO WAY we will be seeing quality 360's with medium mileage and proper maintenance under $ 100,000 anytime soon IMHO The economy is too strong--The 430 list is TOO LONG and the Gallardo and Ford GT are still $ 35-100,000 more

 

There is a saying in business that perception is reality. If would be 360 buyers believe (as a group) that prices will fall, then they will.

Dave

 

I regularly look at 360 prices in several mags along with dealer prices. These cars aren't moving as quickly as they were in late summer 04'. We can all rationalize our car depreciation but 360's are being driven more and everyone's coming up to the good ol' major service payout deadline. If your confident in your ability to purchase a 99-00 with limited service performed, take the time to get your ppi looked at by a trustworthy tech, have the extra cash on hand to pay for all the services and be patient, I bet you can talk a seller into unloading theirs for a good price. I personally wouldn't look at a coupe built before 02' or a spyder before 03' due to all the problems getting the cars right. It's like the 355's, I would get a 98/99 but not even consider a 95'-97'. Everyone has a crystal ball and hopes their getting a great deal with little downside, but reality is evil when it comes to these cars and I always found a good analysis to buy is let's say I buy a 02' coupe for 145k, and the prices come down in three years to 105, a 40k hit. If I went out and bought ANY car in the 100k range (new) like porsche, I'll be at half price in 3 years, so I save 10K with the f-car. I find that people who are so interested in getting into the game with ferrari want the prices to drop, but once they get theirs, they want the prices to stay put. Not Reality!!

I would gather that if you wait for the one you like, buy it at a 30% depreciation level and enjoy the car by driving it, you'll not worry too much about what it's going resale rate is. Think about all the people who bought 03' BMW 745il's, they can't give them away at 35% depreciation.

It's been posted a million times, if your looking for an investment, buy land. If you truly want the driving experience you dreamed of as a child, buy the F-car and drive it like you stole it, but please do the proper servicing and you'll be rewarded.

 

As young man, I appreciate your wisdom. I share the same school of thought.
In real estate the buyers hope for declining prices, yet when prices fall the same buyers panic and hesitate.
MM