$31k for euro 360 spyder with some problems

nothing wrong with the mileage but the compression in #8 and the gear grinding would scare me, either one of those could put you upside down. Rest is not a problem if you really can get the 360 for $31k.

Oh that is AFTER you get it to pass smog and make it legal... that would be step #1 and it if was me, I would agree on a price with the seller for the car WITH smog and license. In the sellers fantasy world, its $5k to make it calif. legal, tell him you will pay his 31 (or whatever you settle at) plus 5 when he is has it licensed. Be prepared to walk on the deal when you tell him that and that would be a good walk.

Tthe #8 could be simple like a burnt valve or blown head gasket, it could be a engine rebuild and oops you are losing money.

The gear grinding could be a cable or a bad gear and oops you are losing money.

The rest is just money and time, if you do it yourself not too much money considering the purchase price you could get away with it. But like I said I would be concerned about the gamble on the smog, motor and gearbox, that seems like a lot of gambling.

 

Better to wait until you can just plop down 70K for a car outright than make a thrashed example right. The time it spends in the shop you wont be driving it anyway so might as well take some more time to save. Unless you are just a super project kind of car guy with a lot of time on your hands and a desire to spend a lot of time doing it yourself. If I had a lift and the space, and the time...and was single I might take a stab at it but only you can answer that.

 

My advice is to do this only if you have the money to make this right, AND are not doing it to try to make money. You may still spend a lot of time and effort and be upside down. Your statement that you want to be into the car "for less than you could sell it for" is concerning to me.....$35K to buy, $5K to get inspected, $10-20K to fix any compression leak, and update any maint. (belt serivce alone is about $5K) plus $5K for rim repair/cosmetic/other stuff..who knows what everything will cost, but you could see how you'd quickly be in the $70K plus range when the dust settles, and still have a ferrari with 75,000 miles!! It may be a great deal if you can do some of this work yourself, or if you want to get into a car cheaply that you can drive as you fix up and address the issues and have the extra money beyond the purchase price to do these things, but again, if you are concerned about getting upside down in the car vs what you could sell it for, I'd recommend against it. You could buy a very nice 360 for the $70K plus range after all, drive it for a couple of years and sell it for the same price.

 

I like it. "Rarely driven!" lol. nice!
Lets start in an ideal world. 2003 euro 75k miles. I don't know what it takes to get it into Kali, but I'm thinking you'd get maybe $48-50k max for the car. Very Very High miles in the Ferrari world. If you drive it for a couple of years and put any miles on it whatsoever, its going ot push what 80-90k miles.. in which case even with nothing wrong with it you'd get IMHO maybe maybe $40k.

Next big question: Are you going to do the work on it or is someone else? if someone else = pass. You will be above break even in no time. If you do the work then its parts costs and I'd think you'd probably break even. Bigger question: are you able to do the work without breaking things?

Next question: how long are you going to have it? A year or two? Forever? if a year or two then buy a better car, you'll loose less money.

Suspension = what $5-7K for replacement, tranny could be misaligned.. or could be rebuild. If rebuild figure what $5-10k? My BIG concern is I've never, ever had a tranny pop out of gear. Who was driving this car and did he just learn? Compression - could be a bad ring or valve = what $2-5K. Hazard switch = $5-10 audi part, big labor is putting it in. Interior - redye or used part. Leather bits can be very spensive. Are you outof range yet?

Key fob could just be battery or connection at the alarm.

Car sounds like a ex-rental to me (not proven and I justr speculate). Personally I might even pass on it.. if not I'd do all the work myself and make sure I'd be able to do the work yourself with the right tools. Any other car.. well.. I don't know if I would get any other car with these issues, e.g. Porsche 997..

 

Your not thinking clear.. Walk away and get yourself and properly maintained car and if your bored take it apart and put it back together.. It will keep you occupied and when your done you will still have a well maintained car.. Rarely driven 75,000 miles.. Miles aren't bad.. its the rarely driven part that thows me off.. its like saying 100 % orange juice that contains 10% real juice..

Come on.. There are several parts in the engine bay that if f*cked up can cost you a crazy amount of money.. Body damage ok.. but when you start talking about mechanical.. run.. Rarely driven.. 75,000 miles.. now its rarely driven because its all f*cked up.. Your title should read lots of problems vs. some problems.. 360's are a good buy right now.. I applaud you for looking for a good deal.. but thats not a deal.. that is picking up someone elses mess that got tired of dealing with it.. throws his hands up in the air and says give me 30k.. Smartin up.. Sorry to be a bit harsh... Look for a collision car vs. mechanically challenged.. Then your cooking with bacon.. but.. you take a hit on value and have a difficult time selling her.. but collision cars deserve a second chance..

R

 

I would rather pay a bit more and enjoy driving the car instead of working on it.

 

carguy.. you must have had a chat with my father.. He just bought a Freelander with 77k miles for 7500 bucks thinking he's got a deal. (He's always loved deals) Well this one had $2k worth of engine work done, before the engie died after he had a valve job done and it hydrolocked. So now he's putting a used engine in it for 3-4k. Plus, the AC compressor needs to be replaced, and the back windows don't open.

It's not the deal anymore.. and there are used freelanders in criagslist for 3500bucks.

We've given you warning.. Best of luck to you if you decide to take it on.. If it was me I'd rebuild it on my time, with used parts as appropriate. Like a Porsche 928.. put $10k into a $5k car.. and it's still a $5k car.

 

I have a Euro 360 as well.. Euro owners are coming out of the woodwork..

R

 

PM Sent.

Yup. We're the select few that drive FCars without the mandated cr@p stuck to our engines...

 

Most of the Euros are CA smog certified.. I know mine is..

R

 

You may be able to make it a nice driver, but this is never going to be a perfect car.

However, the price is so low, you might be able to make it work. I am suspicious however as to why it is so low. Salvage history?

 

A wise old Italian once said, "There's no such thing as a cheap Ferrari".


Every time you think about cutting a check for this car (or any other), reread above.

 

You just described a $70,000 Ferrari so you might as well buy a nice $70,000 Ferrari...

 

++++1

 

link to it ? ill buy it

 

At 31K, you could probably part it out and make money. After rebuilding a motor and possibly a tranny along with all the other stuff that is likely wrong with it, you'd be upside down in a hurry. It sounds like its lived a very hard 75K miles.

Dave

 

If you don't buy it, please send me your friend's contact info. I am a glutton for punishment.

 

+1. Heck, I pick it up as a spare part car.