Is the Ferrari 360 "worth it"?

I recently purchased a gated 360 Modena. I’ve got a history w higher hp cars.

If you come from a 700 hp Vette.... the 360 will be a snooze in the hp tq area.

However if you are after the drivers aspects of a momentum car and the looks and heritage and exotic sounds feel then drive one.

Be ready for some repairs.

 

I have a C5 Z06, a C7 Z51 Corvette and a 360 Spider. They are different cars and ownership experiences. My 360 performs very much like my C5 Z06 but it is not about the performance it is about the experience of owning both marques. What you really need to ask yourself is how will you use the car. You do not mention how you use your 700 HP C6 other than being bored. Driving a Corvette can be an everyday event. I'll speak for my self on this but I drive my Ferrari to Ferrari club events, to local (non-Corvette) shows and on an occasional summer day drive. I would not drive it on a daily basis for many reasons. I use my Corvettes for Corvette club events which I attend 3-4 times per month. My 360 gets out of the garage maybe twice per month, on average also for club events and short pleasure drives. So in all cases I find it exciting each time I get in the cars. I think everyone buys these types of cars for different reasons and purposes. I found that it was an emotional decision to by my Ferrari. I also wanted a different experience and always wanted to own a Ferrari. One day I just decided that it was time to just go do it. I am glad I did. Getting involved with local clubs is a great way to give you a reason for owning these types of cars and reduce the potential for getting bored. I enjoy living in both my Ferrari and Corvette worlds. Great people own both cars and I was pleasantly surprised to find that many of my Ferrari acquaintances are also into Corvettes. One point that I would challenge and that is parts costs, availability and repair. Parts for Corvettes are plentiful, from many suppliers and most any local garage can work on them if you need help beyond your capabilities. You will have fewer options with the Ferrari. I'll give you two simple comparisons. Price a cup holder for both cars and then price Weathertech floor mats. While some maintenance items (brake pads, rotors, tires) can be similarly priced most all other are significantly more expensive for a Ferrari. Chevrolet has built 25-35,000 Corvettes each year recently. I believe Ferrari imported only 15,000 360 Modena's and Spiders over it's six year run.

As I read your message a second time, I would offer this input. If you must cost justify the Ferrari then it might not be a good buy for you. You should start with answering the question, "What am I going to do with the car". It is about the experience of ownership not the driving performance for the most part.

 

Kind of felt the same way after driving 911's for 30 some years. Great cars, 911s. I loved them all. But the Ferrari is a different breed-- Entirely.
My 993 was not the fastest car available for the money. But it did handle wonderfully and the lasting quality of everything was very much appreciated as well as the great German engineering. There were always "faster" cars available to buy but for me there's more to it than simply HP and torque. But alas, like you, after a while I got to used to it. It was an easy car to drive. And even though I still loved driving the 993 (and 911's all my life), I wanted a change.

The 360 is a fun car that brought me back to life behind the wheel. It's got more HP and torque than the 993 so for me it was a step up. Not sure how that relates to your situation as you essentially will be stepping down in HP and torque from the Vette to the 360. But for me, as I've said, there's more to driving than HP and torque. I call it soul as the 360 is a hand built car. For me the 360 is a "driver's car". I despise cup holders, being swamped by tech, and looking at a dash that looks like a video screen-- a few of the reasons I passed on the new Cayman when it came out.
The 360 has a nice amount of tech to keep up with what is necessary but leaves out what is not for ultimate driving excursions.
Is it worth $900+ a month? That's a tough call. But if you're concerned that it may not be, then I'd say you probably are looking at it in the wrong light. Not trying to be a jerk about it, but with such an emotional purchase as a Ferrari, logic can be a tough thing to put a price on. But I can tell you this; I love my 360. It does everything I want it to do as a road car driving on highways or on local roads given the restraints and speed limits of such. I would take it on a 300 mile trip as well as to the grocery store.
700+ HP is nice but really unusable in realistic situations and for me it's seems like simply a bragging point at the local cars and coffee get togethers.
And to top it off, the 360 is one of the most beautiful timeless designs Pinin Farina has ever penned. I don't plan on ever selling mine.

 

absolutely, if it gives you butterflies looking at it.
awesome car to drive if its manual.
i dont love that era of f1 auto

 

Sorry, but I have to add, after driving 911 stick shift cars, I was hesitant to get the F1 paddle shift 360. After over a year of driving the F1, I have to say a resounding YES to that tech!

 

I have to agree with the above. My Corvettes have manual transmissions and while studying up on my Ferrari purchase I read all of the 2 vs. 3 pedal car discussions and the general opinion that the F1 was a lesser transmission. And it is if you only consider the price differences. But after attending a local Ferrari club event and talking to a few of the members they opened my eyes to consider a car with the F1. So I drove both 360’s and F430 and without listing all of the considerations here, bought a 2003 360 F1. I’ve had it for over a year and find that I really like the differences to my Corvettes. Maybe it is just the inner-Sabastian Vettel in me, the quick and seamless shifting is enjoyable. I never drive it in Automatic mode.

 

Anyone worried about F1 shift feeling old get a Challenge Stradale TCU firmware upgrade and it will transform how it feels on the road.

Both are a lot of fun but for me the H gate gives the most involvement however they are harder to source..

 

I don't like car payments so I paid in cash.

Is the 360 worth it? Yes.... a Ferrarigasm everytime I get behind the wheel of my Spider.

 

I initially started shopping for a 360 and then decided I could afford a 430 and felt more comfortable knowing there were a number of hardware upgrades on the 430 and not having to face periodic belt maintenance costs. I also liked the styling a little better on the 430, but there are plenty of people who feel the 360 has more classic lines - they are both very attractive cars IMHO. I've had the 430 spider for 3 years and still get excited when taking it for a spin. I've been a manual car guy since high school, so the F1 transmission was a bit of a culture shift for me, but it's not a disappointment. And if you ever take it to the track, you'll be glad you have it.

A few bullet points from my experiences to add to your dilemma:

• I've generally had nice looking cars that would occasionally get compliments, but the mid engine Ferraris are in a class of their own. It's amazing and sometimes a little embarrassing how excited people get seeing a 360 or 430 (and I live in an area where there are 20 or so in a 40 mi. radius).
• Flip side - some car events I've attended I've gotten a little "cold shoulder" treatment from some folks - it's not common, but it happens. People tend to make assumptions when they see you driving a Ferrari.
• Ferrari diagnostic tools (e.g. Leonardo, SD2, etc.) are notoriously expensive not to mention the licensing fees. No question, mechanically inclined people can do some of their own maintenance, but at some point you'll need access to diagnostic service and it is likely to be costly. Some of the local 360/430 owners funded a local indie mechanic to purchase a Leonardo - a critical and very worthwhile investment seeing the next closest option was ~ 3 hours away.
• Our local mechanic has worked on a lot of 360s & 430s and commented on the noticeable power difference. If hp is important to you, or you are ever tempted to track your Ferrari, that might be a factor worth considering.
• I probably put more miles on my Ferrari than most of the other local owners, but still don't drive it as much as I originally intended. They attract a lot of attention and leaving it unattended in a shop parking lot can be uncomfortable and as most owners recognize, adding a lot of miles on the odometer has a significant negative effect on the value (but to enjoy it, you've got to drive it).

I never thought I'd own a Ferrari, but so far it's been a fantastic experience and I have no regrets.

 

Life is too short not to have a Ferrari
360s have pretty much bottomed out but I'd stretch for a 430 even so.
Me; I'd get a 360 stick in this price range. You'll get every dime back when selling = a "free" Ferrari. Life is good !

 

Bought mine in 2014. I have the "dreaded" F1. Totally worth it. You may be a DIYer but F1 issues are not entirely DIY.

 

I bought my 360 Modena F1 almost five years ago and I have driven it on a regular basis since then. Here lately, I haven't been so lucky with it as life has gotten in the way of my time behind the wheel. I've even considered selling it more than once and either stepping into a 458 or going without until I find my F12. Either one of these would satisfy my horsepower needs as well as my gadget bug. That changed this past weekend when I participated in an invite only Ferrari Festival in the Houston area. First off, since my car is a semi-daily driver with around 40k miles complete with rock chips, I was shocked that I was invited as the venue was limited to 70 Ferraris covering all ranges and expenses including a 488 Pista, LaFerrari Aperta's, an Enzo, three F12 TDF's, and a couple F40's. The car that won best in show out of all these was a 360 Spider. The car that won the V8 class was a 430 16M. That tells me that these cars are still popular and still have the appeal of the masses.

Bottom line is if the cost is the deciding factor, then you need to think long and hard on it, because if you are always trying to justify if it's worth it, you will always be second guessing your decision. The other thing to look at is the maintenance aspect of a 360. There are plenty of debates on the belt service be it 3 years or 5 years or something else. Then you have the clutch, then you have the F1 system issues, and the list goes on. These cars are not new so the issues may well be there and the ones that have no miles are just as concerning as those with higher miles. With all the risks of a 360, I didn't hesitate when I found one that matched my needs.

When I started my quest, my price point put me in the 348/355 range. When I considered what I wanted out of the car and what I was willing to settle for, the 360/430 was the new goal. Figure out what you want and what you are willing to settle for and make your decision based on that, not strictly on the money front.

 

Fill out your profile and let us know where you are. If you are around Atlanta you can drive my 360 to see if you like it.

 

I sold my gen 3 viper to get my 360. I had a C5 before that. I have a tendency to buy messed up cars and my 360 was no exception. I have had it for exactly a year and do all of my own work. I've spent about $5k on it, but most of that is from carrying out the major service, dealing with the heat exchanger failure, making a screwed up set of custom rims useable, and replacing 10 year old tires. I put on about 2,000 miles this year due to it being down a good portion of the season. Only thing mechanically that failed after it's overhaul was a coolant coupling and some emissions bs. Pretty good for a neglected car. The cars are easy to work on. Everything is rather accessible. I would rather work on my 360 than my gen 4 Camaro Z28 any day. Not everything is DIY though. Most Obd2 will generally only read one bank, but I guess some scanners will read both. If you have an F1 code it needs to be read with an SD2. You will need this for a clutch job as well on the F1 cars. It's not exactly something you can get off Ebay either. I haven't had to deal with it yet, but my days are numbered. I did have a scare the first couple miles when the check transmission light came on and it puked F1 fluid everywhere. I was fortunately able to figure out that the reverse lever wasn't homed and the dipstick on the reservoir was not accurate. As far as F1 goes it is not as engaging as a true manual, but it is way better than a standard automatic. I don't mind it at all. As far as speed it is slower and even going from my viper to this was kind of a let down in that department. I feel the 360 doesn't have quite the cockpit feel the viper did either. Those are my only gripes. They are pretty bottomed out so the money you put in it you are most likely to get out. If you are big on diy like me, you can save a lot buying a car that needs a major service. $70k puts you in "high mileage" manual or manual that needs service territory and you won't have to worry about SD2.

Edit: I feel i should also mention that it is not going to be as reliable and daily able as a vette. The build quality isn't there either imo. The interior degrades quite a bit and isn't held in the best. For me that is part of what makes it special. To me it is a project that will never be done as mine still has a ways to go. It is disappointing not racking up miles like I did with my viper, but I'll hopefully be buying it back after I sell my house. Priorities lol.

 

Ron,
I can still remember the first Ferrari I ever saw, now almost 45 years ago.
I remember every detail about it; where it was, who I was with, and even the name of the man who owned it.
They have been a dream and a passion ever since.
I have had my 360 Spider for over 8 years now, and I still go down to the garage now and then just to look at it.
Owning it is a life-long dream come true.

There is my bias.
So with that, here is my advice:

If a Ferrari wasn’t already on your bucket list, don’t buy it.
If you can’t afford an unexpected $10K repair bill, don’t buy it.
If you have to ask if it’s $900/mo more fun than a Corvette, don’t buy it.
It probably will end up being a disappointment.

 

Absolutely. Puts a smile everytime I drive it. It’s very different from any other car I’ve ever owned.

 

Was the white 360 spider that was parked in front of yours the one that won best in show?!

 

It sounds like you haven't driven a 360 yet. First step is to drive the car. You'll answer your question about whether it's worth it pretty quickly (in your own judgment instead of others')

IMO, If you're into straight line speed, it won't match your vette or many other cars, but the soul and experience is on another level and definitely "worth it" if you can afford it.

 

Absolutely-- and a hit squad should be dispatched from Modena if you ever drive the car in Automatic mode
Perhaps worth noting; my 360 is also a 2003 with the F1. The later iterations of the F1 TCU is, I believe, a big, big, difference from driving an earlier version without the available "update"

 

If you get a pre-upgraded TCU (mid 2002 model-year I believe, you can check the actual serial number when they switched), then you MUST, MUST upgrade the TCU to the later model or (what I did) the CS TCU. Completely and totally transforms the experience.

 

The "shifter" you describe is to put the car into reverse. There's no traditional shifter on the car. You just turn it on, put it into gear with the paddles and go.

The attention is a negative factor in my view. I don't tend to drive through town or for close-by errands. But at some point you learn not to worry about it. The majority of people honestly have no idea what it is, and 95% of those that do just want to wave and smile.

 

Any Ferrari is an attention getter... moreso the newer (360+) because they are less mechanical. The 360/430 genre are the last of the analog cars with the 458 and forward being too electronic for my taste. Ferrari are gentlemens' cars... moreso than a knuckle-dragging Lamborghini... a racecar in street clothing.

I will invite kids at cars n coffee events to climb in and get pictures taken of them sitting behind the wheel. The parents appreciate it and it is a hope that my personal story (no silver spoons here!) about working towards attaining a goal is remembered by the child... dreams do come true if ya take the necessary steps towards attaining them. ... Oh, I wear my rattiest jeans or shorts cuz I am just a regularly guy... who happens to own a Ferrari. My daily driver is a 2001 PT Cruiser!

 

My philosophy is simple. If I can't afford to pay cash for a car, I don't feel I can afford to own it. I might finance it if I thought I could make more money in the stock market (not this week apparently) vs the interest on a loan, but its a case of having "earned" the car. I'm a deferred gratification person in that respect. I also question going from a 700HP Turbo Corvette to a 400HP Ferrari. I've had multiple Ferraris but never owned a Corvette. They just seem like a whole different aesthetic to me. I'm not sure you will be happy. FWIW: I bank $2K a year for maintenance on my 360. $1k for fluid changes and incidentals and $1K/yr for the 5 year Major Service interval.