11 year old 360 with 2700 Miles - Bad idea???? | FerrariChat

11 year old 360 with 2700 Miles - Bad idea????

Discussion in '348/355' started by needspeed, Dec 1, 2010.

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  1. needspeed

    needspeed Formula Junior

    Oct 5, 2006
    579
    Middle of nowhere IA
    Full Name:
    Steve
    #1 needspeed, Dec 1, 2010
    Last edited: Dec 1, 2010
    I have read a lot on this board and others and my thinking is that this car has never proved it self as a driver. Sitting for 11 years has to be bad for the car and if there are any build issues they will not really have come up yet and the warranty is long gone.

    So to me, this car has become a museum piece. It is nice to think you are buying a new 11 year old car, but without being driven, is it not a disaster waiting to happen. Am I wrong to think this.......Steve

    Just realized I ment to put this on the 360/430 thread. Mod please move if you wish. But I am also looking at 355s and have seen some with really low milage and a high asking price as if that is a good thing.
     
  2. Dave Monk

    Dave Monk Karting

    Apr 23, 2010
    213
    SW Virginia
    Full Name:
    David Monk
    If you can get a good deal on it I don't think it will be an issue, BUT before you start driving it have a major service done on it. New belts/hoses (timing belt) and seals should get it back in order. Change all fluids and flush everything out good. Then ride it like you stole it!
     
  3. needspeed

    needspeed Formula Junior

    Oct 5, 2006
    579
    Middle of nowhere IA
    Full Name:
    Steve
    That is what I was thinking but of course the seller thinks they are selling a like new car and think it is worth more than a well driven and maintained car. So really the price should be market price minus cost of a major.......Thanks......Steve
     
  4. Scotty

    Scotty F1 World Champ
    Silver Subscribed

    Oct 31, 2003
    10,549
    Oregon
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    Scotty Ferrari
    Kinda depends what the story is. Did it accumulate most of those miles in year one, and then sit undriven for 10 years? Or did it sit undriven for 10 years and accumulate all of those miles in the last year? Of have the miles been parsed out over time?

    I like the first scenario least and the second scenario best.
     
  5. ernie

    ernie Two Time F1 World Champ
    Lifetime Rossa Owner

    Nov 19, 2001
    22,620
    The Brickyard
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    The Bad Guy
    #5 ernie, Dec 1, 2010
    Last edited: Dec 1, 2010
    Wouldn't this question be better suited in the 360 section?

    Can one of the mods please move it to the appropriate section?
     
  6. needspeed

    needspeed Formula Junior

    Oct 5, 2006
    579
    Middle of nowhere IA
    Full Name:
    Steve
    I agree with you on your scenarios. My real issue is that the car is barely broken in with so few miles. So if the car had any underlying issues they would have been found during the warranty period if the car had been driven 5k-10k. I guess what I am wondering is 2700 miles enough to prove you have a good one or a bad one.......Thanks.....Steve
     
  7. needspeed

    needspeed Formula Junior

    Oct 5, 2006
    579
    Middle of nowhere IA
    Full Name:
    Steve
    #7 needspeed, Dec 1, 2010
    Last edited: Dec 1, 2010
    Yes I noted that in my post and asked the mod to move it. But the concept is the same no matter which car I choose. I am looking at 355, 360, 575 and 612......Steve
     
  8. HH11

    HH11 F1 Rookie
    Rossa Subscribed

    Sep 4, 2010
    3,346
    Agreed with all the above. Try and see when the miles accumulated. If it has been sitting it's not the end of the world but a service will be a major priority. Sometimes it's better to buy a car like this with mileage somewhere in the high 20's or low 30's. This would mean the car was driven roughly 2500 miles per year. Even with that kind of mileage it means the car most likely had all it's routine services performed and that's what you want. Don't let miles sway your decision. It's better to have a car with high miles and less problems than a low mileage car with a slew of them. The problems that these cars may have are also expensive.
     
  9. needspeed

    needspeed Formula Junior

    Oct 5, 2006
    579
    Middle of nowhere IA
    Full Name:
    Steve
    Thanks, that is what I was looking for. I have no problems with a car that has been driven and has a complete maintenance history. The car has proven it self to be a good car over time and miles. I think what has been bugging me is I see 10+ year old cars with really low mileage priced at a premium and in reality the low miles are a liability unless it is a true classic collector/show car. But commodity cars such as I am interested in are not meant for the museum.......Thanks......Steve
     
  10. ghardt

    ghardt Formula 3

    Apr 18, 2004
    1,260
    Texas
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    Jerry
    Assuming this car has had one owner, that may be a good thing. And as someone else stated earlier, if it can be had for a reasonable price, it would most likely be fine after a major. With all that said, you're better off looking for a 2003 or newer 360 due to the improvements with the cam variators, etc. Have you read the 360 buying guide?
     
  11. ernie

    ernie Two Time F1 World Champ
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    Nov 19, 2001
    22,620
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    The Bad Guy
    When is this gonna get moved to the 360 section??????????
     
  12. ferrari 512 tr

    ferrari 512 tr F1 Rookie

    Nov 16, 2008
    4,180
    Australia
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    Paolo
    hahahaha
     
  13. needspeed

    needspeed Formula Junior

    Oct 5, 2006
    579
    Middle of nowhere IA
    Full Name:
    Steve
    Yes I have read all the buying guides I could find. The real point I am making is that a low milage old car is not worth a premium since you will need to put money into it to ensure that it is ready to be driven on a regular basis.......Thanks all for your help.......Steve
     
  14. jim94-348

    jim94-348 Formula Junior
    Owner Silver Subscribed

    Aug 19, 2010
    981
    Greenville, NC
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    Jim
    I think a low mileage car is worth some premium just as any car is if it is low mileage. In my opinion the key is to get it a fair price with the expectation of having to spend a few thousand dollars getting everything serviced. One scenario that I didn't see is a low mileage car that has just been completely serviced. This really throws a monkey wrench into it.
     
  15. AceMaster

    AceMaster Three Time F1 World Champ

    Feb 6, 2009
    34,785
    Ontario, Canada
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    Mike
    By it not being moved, it shows how important the 348/355 section really is :D:D
     
  16. needspeed

    needspeed Formula Junior

    Oct 5, 2006
    579
    Middle of nowhere IA
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    Steve
    Agreed :D......Steve
     
  17. roadracer311

    roadracer311 Formula 3

    May 6, 2009
    2,398
    San Francisco
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    Paul
    I bought my 1995 F355 last March with 124 miles on it. It had a fresh major from the dealer in Salt Lake City.

    I've put about 2300 miles on it since then, and it's been great. I've spent a lot of time going through it looking for little things to do, but haven't found anything age related that I felt like I had to do. The dealer did a decent job, in that regard.

    On the plus side, you get a car with essentially: new clutch, new shocks, new headers (less important for a 360), new brakes, new rotors.... you get the idea.

    I'd say there is value in a low mile car, but it is possible to run into unexpected things when doing the major. The dealer ended up replacing most of the ABS system on my car before offering it for sale. I'm sure that wasn't much fun for them.
     
  18. dapper

    dapper Formula Junior

    Nov 10, 2003
    711
    Bristol, UK
    Full Name:
    Dave
    Love it, if I were looking for a 360 thats the mileage I'd be on the hunt for. I'm glad most think these extreme low mileage cars are a 'liability', leaves them for people like me. Rather these, than the mega mile cars that have 'proved' themselves!
     
  19. BigTex

    BigTex Seven Time F1 World Champ
    Owner Rossa Subscribed

    Dec 6, 2002
    79,406
    Houston, Texas
    Full Name:
    Bubba
    The answer is "maybe but probably not" worth a premium......but a good value IF....depending on the usage as noted in other answers.

    The BIG deal on the 360s was the cam variators, problems when new, should have been changed in factory recall, and then there's been instances of the NEW ones failing, and ruining the engine..

    So your beautiful 'new girl' can still break your heart like an Ice Queen.......

    Pay market value, and jump in!!!!
     
  20. technom3

    technom3 F1 World Champ
    Rossa Subscribed

    Mar 29, 2007
    18,878
    Phoenix AZ
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    Justin
    i love when people say buy the 20-30k mile cars... when you are selling your car everyone *****e$ about miles... and it gets tough to sell...

    Also, if you buy a 20-30k mile car... and drive it 20-30k... you are going to be selling a 40-60k mile car... and that is a very very hard sell. Will it sell... of course... but most people will think that the car is at the end of its life...

    right wrong or indifferent... that to me is the thought of people when they are trying to acquire a 360
     
  21. ferrari 512 tr

    ferrari 512 tr F1 Rookie

    Nov 16, 2008
    4,180
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    Paolo
    i agree technom3
     

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