OK, so which one of you bought Doug Demuro's 360 Modena?

A Parable: I used to go to the nice neighborhood and see the beautiful people, their fancy cars and big homes. They always seemed to be in a great place. So I took out a loan to buy the big house, and another loan to buy the expensive car. And thus, I was living in the nice neighborhood with the smiles and the good jobs with lots of money.

But I had to work so hard and constantly had to worry about making the loan payments that I couldn't enjoy the large home and the expensive car. So I sold the expensive home that I "owned" and the expensive car that I "owned" and bought a cheaper home and car outright.

And so I make a generalization about the people in the homes and my experience there as it wasn't a good one. I tell people that I used to live in that neighborhood and how it wasn't such a great experience. But then they talk to my old neighbors who live in the nice hood' and they still smile and love their home. They don't worry as much about the loan, because for them "affordable" wasn't such a stretch. A big home and a luxury car are meant for people who can afford them.

I'll be surprised if the new owner confesses..

Edit: As I said.. call your girlfriend ugly to look good in front of friends: http://finance.yahoo.com/news/guys-long-nightmare-ferrari-ownership-223042598.html

 

It's on Business Insider too....now everyone will think that owning a Ferrari is a nightmare
This Guy's Year-Long Nightmare Of Ferrari Ownership Is Finally Ending - Business Insider

 

"Having sex with a super model was really disappointing : ("

"She got so much attention when we went out : ("

"Sex was good, but she didn't pay enough attention to me : ("

"She expected me to buy her stuff at Nordstrom and not from Target : ("

Doug; maybe super models are not for you? Maybe find one that can cook? : P

 

Nightmare? That is awesome. I mean there is like hyperbole, and then hyperbole.

Clearly these people have never run for their lives.

 

This Just In....
A Ferrari 360 two seat sports car is not a great daily driver!
That and other amazing discoveries like.....
"it gets lots of attention"
"it doesn't carry much cargo"
"it's expensive to buy and own"
"you have to be careful where you park it"
Read all about it Ferrari makes an awful mini-van

 

In all honesty I wish I had seen his car for sale. First heard about it here on Fchat.
Personally I would have loved to have another 360, plus it would have been fun to drive back from the East Coast.
To his credit he freely admits that he could afford a 360 but not really AFFORD a 360.
Best of luck to him anyway, I enjoyed the reading.


If anyone read the comments to the articles I found it to be some fairly amusing reading. There seem to be a lot of people that agree that it is too hard to own a 360 and it is too much of a dream. I used to sound just like that at one point.

 

Doug. It's great that you are exposing the practical realities of owning a Ferrari. Very much of what you write is true but misses the point.

Of course you shouldn't buy a car (or a house...or anything else) if you cannot enjoy *using* it without worrying about maintenance, operating costs, etc. I'm interested to see your next article showing total cost of ownership, but my guess is that it's highly unlikely that annual ownership costs exceed $10,000 including depreciation, even if the car is driven a lot. $10k/year is a lot of money, but that's the cost (or risk really) that one has to accept to get the experience of owning a Ferrari. For some it's not worth it, for other it is. And among those that choose to pay it, some are so passionate that they pay a large percentage of their disposable income to have it.

I could have purchased a Ferrari 15 years ago. But I would have had the same experience as you back then. I'm a huge worrier, very frugal, and I lived in a large urban area. I would have worried too much about every little thing you mention. So I waited (and worked very hard) until I had the means to buy it AND drive it without worrying. And I do that with my 360. It's not my daily driver, but I take it to Home Depot, the grocery store, drive through Starbucks, etc and always enjoy driving it. It helps that I moved to the suburbs (you may, one day, see the light on that as well.)

Still, your friend's comment about point-A to point-A driving is generally a good one. But that same comment explains the value of owning a Ferrari. Taking it out for a drive is a joyous activity **in and of itself**. You might say the same is true about other cars, but I owned and drove some great cars (including Porsches!) before the Ferrari, and while I always enjoyed driving them, I practically *never* took them on pure point-A to point-A drives. I take the Ferrari out just to drive it all the time. So if one is able to drive it without worrying, the desire and enjoyment of those drives is a positive, not a negative.

(I do not like the attention either)

 

All of his points are valid but I don't see why Doug seems to be so surprised by them. A 360 serves an entirely different purpose than a 911. Of course it is not going to be practical as a daily driver in the city and he must have known that before he bought it. Also if he hates the attention so much, why did he buy a bright red one? It seems unfair to complain about a car that obviously wasn't going to be ideal for his intended usage. As he said, a 360 is a fun toy and nothing more. It was built with that in mind and isn't supposed to be anything else.

 

I was looking for a 3 pedal, red/tan 360 coupe with shields, unmodified and in good condition. It didn't have Daytona seats, but after a year of looking I was willing to give a little.
Doug's car fit the bill. I'm happy to add it to my stable!
I think Ferraris are at their best on a country road, driven at a brisk pace, pedal to the metal, shifting at redline.
I've been a Ferrari guy since I first saw a 246 Dino in 1974. I finally was able to become an owner at the age of 33 when I managed to get a 1983 308 GTS. I drive it hard, but not abusive. It still has the original clutch at 35K miles, but has gone thru 3 sets of tires. After more than 20 years of hard driving it's still running strong, a testament to the quality of F cars.
As for Doug's articles, lighten up a little, it's all in fun.

 

Whoa, I hadn´t read that, it´s breaking news.

I have all of those problems in my old rusty Mazda Miata too (except the excess of attention, of course) and I don´t complain about them. Heck, it´s just for the fun, I have other cars when I need some practicalness.

 

I think the articles were great and serve a good purpose. It's not that he's so surprised, he's making a point through a series of articles and lived it to back it up. For all of the pompous crap on this thread about "affording" things the "right" way and blah blah blah, the reality is that MOST people looking to buy a 10 year old $70k 360 aren't Jay Leno so this series very much applies to them.

I work with folks who can "legitimately" afford most things. They use 458s AS the A to B car, buy them cash without a thought, and unload them when something new comes along. Their net worth is generally 8 figures. They haven't cared about the 360 since 2003. I envy them greatly, but don't kid myself into thinking that just because their toys (finally) depreciate to my mortal level I suddenly become one of them even if I can "really afford it" because I manage to pay cash for it. IMO there is zero difference between taking a car loan for 5 years vs saving every penny for 5 years and paying every cent you have for that item once you can. Either way you're sinking most of your worth into one depreciating asset. The only people who can TRULY afford most things, IMO, are those with millions in cash who can spend the $70k, $100k. $300k or whatever the way the average person buys a new phone. The rest of us just get by as best we can and try to balance the practical with the extravagant in order that life has some spice.

Now OF COURSE there are plenty of multi millionaires who CHOOSE to still own a 360, or have one as part of a stable, but that's really besides the point

MOST buyers of "bottom of the depreciation curve" Ferraris ARE stretching. And they ARE buying into a barely affordable dream. And they just MIGHT be kidding themselves into thinking that yeah, it can almost, sort of, maybe be like a real car (just like Pinocchio is almost a real boy).

Since they ARE stretching and are NOT the REAL Ferrari demographic (the GENUINELY wealthy or the TRULY committed and informed) they will probably end up with an expensive "car show"/"cars and coffee" queen that travels 100 miles per year and accumulates a bunch of deferred maintenance before the wife finally ejects it.

For these folks (and I put myself in this group) Dougs series is a sobering, slightly bitter, but funny dose of reality

Crapping on the concept as "disrespectful", and especially harping on the idea that the troglodytes who can't "really afford a Ferrari" should stay away, is pretty ironic.

He was using humor to show the mass audience that no... Just because the old 360 is now no more than a new Land Cruiser it doesn't make it a smart thing to buy if you're a middle class working guy with kids no matter how tempting it might seem.

Doesn't mean it CANT work, or that you still shouldn't give it a shot, but having eyes wide open is for the best. He illustrates that by strapping a TV to the roof and driving through McDonald's to starkly illustrate how silly it is. After that its on the viewer. Those who choose to dive in away at least now have a bit more of a real world sense if what they're getting into.

 

I don´t think that anything in the article is wrong, just that it´s plain obvious. Nobody with a pair of neurons in working order would spend that kind of money in an old car without knowing that this stuff would happen.

Or maybe I´m overestimating the intelligence of the average buyer.

 

I have met a few Ferrari owners over my 7 months of ownership. The ones I talk to regularly are the "360 class" or equivalent. Most including me have much more than a car show or cars and coffee queen. I've put almost 6k miles on mine and know others who have as well. It is a 70k toy and I had to dump to cash into after purchase (it comes with territory). I'm not someone who can buy a 458 let alone the way you described above but I can afford my toy. That's what makes them special. They are a toy, probably the coolest toy out there. I think most people on this board went into ownership with their eyes wide open.

I enjoyed some of Doug's videos some were a bit cheesy. The one about being disappointed with ownership was a joke to me. Ask 100 men if they think the Ferrari is cheap, if they would park it on the street, is expensive to upkeep (hell even Magnum and Higgins *****ed about it) and isn't minivan. I think all would agree this normal procedure and expectations for the car. To act like this was "news" is a joke.

 

Sonoma even though we've all seen it, you must show pics.

 

I love the guy's videos..I wish there were more of them. Some people need to lighten up

 

Exactly...just not a funny joke really.

This just in - Ferrari is one of the most powerful brands with the most recognizable objects in the world.

In other news, Mike Tyson is still famous; water is still wet.

 

Exactly. Piggybacking on other peoples brilliance and hard work who built the brand for personal gain. Write an article about how Skoda ownership is underwhemling nobody cares. Write an article about how Ferrari ownership is underwhelming.. and you get on Yahoos main page.

SonomaBoy, I hope you have a wonderful experience with the car!

 

Congrats on the purchase, sounds like the car found a good home. I also think it is awesome that the original question was answered.

 

In reading Doug's article complaining about his 1-year ownership term, I have a few comments:
1. His biggest problem is that the car draws attention. That's a subjective statement, and if you eventually tune it out, it doesn't become so much of a big deal. Sure, people always want to come and talk to you. Deal with it. Also, if you didn't want as much attention, why did you buy Resale Red? Everybody knows that the Red Ferrari gets the most attention. He could have bought black or silver, it's not unheard of. My guess is that about 50% of the "attention" problem goes away when you buy a more subtle color. My red 360 Spider is constantly being photographed. So what? That's why I keep her clean all the time, because she gets attention. I deal with it.

2. The 360 is "hard to drive." This gets back to the "Point A to Point A" discussion. Many of us do this, many of us do not. I fall into the latter group - my car is almost always (and I mean like 95% of the time, unless I'm scouting a club drive route) a Point A to Point B car. As I mentioned above, I'm not afraid to drive her to Walmart, Home Depot, my office, the hospital (to visit people), the grocery store, Bob Evans, or any nice restaurant where they will always clear the valet stand for my car. My drives have a purpose, the Ferrari is just sometimes the most enjoyable way of executing that particular purpose. The only places I will not take the Ferrari are to construction sites and to sales meetings with prospective clients. Self explanatory.
2a. It's hard to drive [again]. No it's not. "You have to watch for potholes, other drivers..." etc. Big deal - you wouldn't do that with another nice car? Hell, I do that kind of stuff while driving my wife's minivan. It's just a good habit! "Blind spots are big." So, learn how to position your mirrors better, and drive with the windows open so you can hear cars next to you. "The suspension is harsh." Nope, not for me. I guess my roads must be paved better. Totally subjective complaining from the author.

3. "Why is it so expensive?" Because it's a Ferrari, so you have to pay more for parts (even some non-OEM parts) and because Ferrari mechanics get better money than mass-market car mechanics. So what? I always tell people who dream to own a Ferrari that buying one versus keeping it on the road are two different matters. Just because you can afford the acquisition cost doesn't mean you can afford major repairs and maintenance. If you go in with your eyes open and you can pay to fix and maintain the car, then enjoy it in good health with an understanding of what it takes to play the game. Period.

In the end, he contradicts himself because he offers some solutions (buy a newer Ferrari, move to the suburbs where people don't notice the car as much) and then he says to go and buy a Porsche. So, he has missed the point. Earlier, he calls the Ferrari a toy car -fine, I agree with that. It's a big boy toy. That's what you get, and you get a lot in the "fun" department. If I wanted a Porsche, I'd buy a Porsche. But I didn't (and have never) bought a Porsche because I've wanted a Ferrari. The Ferrari experience is a different one, and is much more rare.

His problems stem from generally complaining about the car and its impact on his life ("it gets too much attention") and from being unprepared for what it takes to own an aging Ferrari ("Why does it cost so much?"). Most people who research these items and perform the necessary homework will quickly realize that the benefits to owning a 360 can outweigh the costs.

I realize it's an opinion article, but why does he have to spend the majority of the piece complaining about things which can be so easily fixed???

Edit: Just briefly read over a few comments on the article, people are generally gushing about him and his writing. It's a shame that these people are so easily misled. He complains about some significant problems to him, but offers no practical solutions that would keep him in a Ferrari (other than make more money, buy a bigger house in the suburbs, and get a newer Ferrari - who in the world wouldn't want any of that???), and instead recommends that people buy a Porsche. Sad.

 

Congrats SonomaBoy! You should drive it a lot and post your own experiences.

 

Cameron: The 1999 red, six-speed 360 Modena. Less than 10,000 were made.
Doug spent three months driving this car. It was his love, it was his passion.

Ferris: It is his fault he sold the car.

Cameron: Ferris, what are you talkin' about?
[Ferris eyes the car hungrily]
Cameron: Ferris, Doug loved this car more than life itself.

Ferris: A man with priorities so far out of whack didn't deserve such a fine automobile.
[Ferris walks around the car]

Cameron: No, no, apparently you don't understand-

Ferris Wow!

Cameron: He never really drove it, he'd just rubbed it with a diaper.
He tried to pickup women with it (big FAIL) and post the videos on YouTube.
He just didn't deserve to own this car.

 

I'm surprised that I overestimated readers even on FChat. So many apparently didn't "get" my "respecting" comments that I thought were pretty clear. Park a new Gallardo that 97% of the population can't afford outside and let people beat it with a sledge hammer and its on national news. Nobody cares if you do it with a Pinto. Easy to get attention by "disrespecting" something so expensive. OTOH.. some owners are legitimately surprised and shocked when their cars get keyed when parked in public.. Tripe that for the next year nitwit followers are going to ask you about.. you watch.

 

I find the article translates well:

They're coming back next week. My parents that is. My dad is picking up the keys, putting them back inside his desk drawer, and covering the car back up with a cover. This brings to the end my weeklong dream of "owning" a Ferrari. I should be depressed, I should be feeling really down. But I'm not.

The simple truth is, my "owning" a Ferrari wasn't what its all cracked up to be. You see, all the girls I told it was "my car" at the club, the supermarket, the mall and school.. they blew me off. Now that my Dad is home, I have to go back to driving the second-hand Land Rover that I got when daddy bought my Mom a Macan. The Ferrari was a disappointment to me. Here's why.

Lets start with the attention. At first, I really liked the attention. All the girls, and more importantly, all the guys from school looked at me when I drove down the road. I liked this because it made me feel like the rock start at school. Lindsay Barnham actually remembered my name in Gym class. At first I liked this, but then she went back with Todd and his Corvette that his dad gave him (he's rich).

I also don't like it because if my Dad or any of his friends see me in the car I'm going to get into ALOT of trouble. So in the end.. I didn't like the attention.

Then there's driving the car. I had to watch out for every pothole and bad driver. If I got a scratch or dent in it my Dad would be really mad at me! It would also be really expensive to fix. So you really can't enjoy it because your dad will get REALLY mad at you if it breaks when you drive it. Because of this, you can't enjoy driving it. (Insert some generalization here how this applies to all Ferrari owners)

The other problem is you can't really use the car. After band camp, we tried to fit Bills Tuba in the back seat with my trumpet and we couldn't. Its not a vehicle you use. It's a clearly a toy and a second car. Plus, if you put too many miles on it.. your Dad will know you've been out in it.

Bar none the biggest worry about the car was accident damage. If I dented it or broke it my Dad would really be mad at me. So I couldn't drive it anywhere because I constantly had to worry about denting it or scratching it.

But in the end I'd rather have a Porsche. With the Porsche I can tell girls "my Dad bought it for me as a christmas present" and its remotely plausible if its an older 911 like a 996 turbo. With the Ferrari, girls never believe that it was actually mine. They always somehow knew it was my Dad's car. I can' wait for my Dad to come home and see the car is in great shape. It'll be a relief.

 

1 - This is a very good point. Yes if you get a bright red car, that will draw attention. If you wanted a fun car that blends in well there are many of options, Porches, BMW M cars, Mercedes SL, Aston Vantage. The 360 is by no means a fast car, and he clearly didn’t get it for performance sake. I have a Grigio titanio which blends in nicely, most people that take pictures are car spotters and that’s limited to certain areas. Night driving, no once notices. I have never been bothered, other than the occasional spit on the window or finger flick.
“At every light, the guy next to you will ask what it cost” – Roll your windows up
“At every gas station” – Rarely happens to me

2 – I agree. Its common sense that you cant put more than 1 passenger, or pick up anything large. Why would you buy a Ferrari a 2 seater if you plan to transport TV or more than one passenger. Doug’s point here is dumb. If you buy a car that doesn’t meet your practical requirements, then he made the mistake. As you said, it’s possible to use the car as a daily.

3 –This is also a dumb point, modern cars are similar when it comes to repair costs. How much is an SMG clutch on a M series car, it is equivalent to a 360 job. I get my work down at an independent Ferrari specialist and the bills aren’t beyond any modern day sports car.