To wait or not to wait

Best things come to those who wait

 

Although I generally prescribe to the "buy with cash" philosophy as well, it may make the most sense to just buy the 360 now and finance the rest. With such a large down payment (relatively speaking), there is really no way you can get into trouble. If life goes off the rails you can dump the car. Even if you have to fire sale it, you will still have enough equity to cover what little you owe.

If that is not an option, then wait. A properly cared for F-car eats money. If you buy the 348 now you will be burning cash to maintain her that you won't get back. Even a well cared for older Ferrari take a fair amount of money to run and keep in good shape. Hold out for what you want. That way the money you have to throw at the car won't be for the benefit of the next guy when you sell a short time later.

 

I agree with ztarum. Plus, the 348 is going to be harder to unload and cost more in maintenance before you trade up to a 360. Thus, don't wait find a nice 360 and put as much cash as you can and finance the small gap. Then use the extra money the 348 will cost to maintain and pay the loan off quickly.

 

Don't wait. I decided to wait 16 years ago when I was looking at an '85 308. Life got in the way and I just got my first Ferrari this year. That's 15 years I could have been driving a Ferrari that I'll never get back.

 

Make sure you have a maintenance fund set aside before purchase.


I do not want to be a wet blanket (OK, I do ) BUT things DO happen.

Especially if you have luck like mine.

 

do not, i repeat, DO NOT, buy a 348.

 

I agree, this makes sense. The only thing I have to add is, if you are looking for a very specific car, it may take a long time and you may have the money by then. It took me about 6 months of serious looking (9 months of casual looking) to find my car. Jump on the right car when you find it. Financing a small amount is no big deal, even though I'm a strong believer of having the cash up front for non investments/toys. It seems that finding the right car is usually harder than making the money to buy it!
I personally wouldn't go older than a 360, but that's just me, and it's just an opinion (worthless). The reason is that in the long run they will Probably cost you the same. Old ones are a little more to maintain. I also like the looks/engine/transmission/reliability of the 360's. All that said, I didn't listen to my own advice. I really wanted a 458, but got a 360 to get my feet wet in Ferrari ownership and hold me over until the prices came down. The difference with our situation is that the 360 won't depreciate that much any more. If I wait a few years, I will save $120,000+ on m 458 purchase. That's the only reason I waited. I'll revisit the 458 idea in another 5 or 6 years....

 

The answer to your question. You said it's what your truly want and isn't that the point of your vehicle?

You only live once is true but you have stated through the thread that you own many other toys that will keep you company until you get to the 360.

 

Yes, leave more on the market for me to look at (eventually).

All the best,
Andrew.

 

Frankly, you should wait. Older Ferraris drive like trucks, as do other cars of their vintage. They, after all are true sports cars. If you desire the luxury personal car feel, ride and comfort, you will have to go for the later models. For instance, you would be disappointed in a pristine Lusso.

 

Buy the car you really want. Don't dump your money into something that will dampen the Ferrari ownership experience.

 

What he said. You don't want to buy/debug an old Ferrari and then try to get your money out of it. Buy one, buy well.

I think everyone has to start with the newer stuff for the comfort factor, safety, etc.

Long term, I've found the vintage/classic cars more interesting and distinctive than what came after.

 

Aye. You just have to understand what you're getting into.

 

If not it can easily be added. Believe it or not. There is even a kit for the 3X8 cars.

 

dont even be tempted andrew. there is better, much better, for nearly the same money.

 

I say wait and get what you really want - the 360. Why compromise? Prices will continue to drop so your entry point will get meaningfully better, imho. Keep your eyes open now though so you can be educated and ready to pull the trigger when the time comes.

Best of luck!

 

Asking the question should tell you the answer already.

 

Actually, I've had a few people recommend the 360 to me as a better alternative. "Better" is really a very subjective term, depending on what experience you're after:

General Forums > Ferrari Discussion (not model specific) > "Must have (reasonably priced) car before you die..?" > No hesitation: the Ferrari 348. (NeuroBeaker's post)​

Honestly, I think the 360 is a terrific Ferrari. I really like the look of it, it sounds great, and I was thrilled to get to see and sit in a Challenge Stradale when some FChatters invited me to view their cars:

Regional Areas - International > United Kingdom > "Somewhere in Scotland... at an undisclosed location..."​

I would really like a 360, I've seen a number of them in person now and they are always very impressive. The thing is... I have a stronger desire to own a 348. So if I do get a 360 someday, I imagine it'll most likely be an addition to the Beaker stable rather than my only Ferrari.

My wife struggles with heavy clutches so, although she supports my 348 dream, she may struggle to drive the car herself. Perhaps we'll one day manage a 360 with an F1 transmission so she can drive a Ferrari unimpeded by such worries.

All the best,
Andrew.

 

my recommendation to you and the thread opener, is to pass on the 348 and go for a 355. its an infinitely better car, and nearly the same money.

 

Get the 360.

The depreciation curve and your saving curve are on a crash course, you'll be there before you know it!

I, too. love the look of a 360, esp coupe.

 

Don't wait - tomorrow might never come - I was wounded in the Army and just recuperated from life threatening cancer - go for it - Also never ever say I don't want to track - that will come with time - I also said that when i bought my first of 4 Ferraris