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'03 360 Modena, 6-spd, 1500 miles- Ferrari dealer asking $179K

Discussion in '360/430' started by CChung, Mar 31, 2004.

  1. CChung

    CChung Karting

    Dec 10, 2003
    244
    Southern California
    I've been lurking on this forum for the past few years and am in the position to buy my first Ferrari. I want to get a 360 Modena, as late a model as possible with a 6-spd manual. I found one at a Ferrari dealership, a 2003 red/tan with 1500 miles, asking $179K. Is that too high of a price to pay? I'm almost certain that prices for 360's are dropping so if the price is too high what would be a good offer? Thanks for any advice.
     
  2. dherman76

    dherman76 Formula Junior
    Owner

    Feb 25, 2004
    601
    Boston
    Full Name:
    Darren Herman
    Prices will drop dramatically within the next 6 months. Wait, although if you have the money, go for it.
     
  3. zjpj

    zjpj F1 Veteran

    Nov 4, 2003
    5,938
    USA
    Is it a coupe? What options? If it's a coupe then chances are that is still quite a premium over MSRP. Early years can be had for $130,000 these days.

    I would wait until prices drop, but like dherman76 said, if you really want it now, it's your choice. I think that price is way too high.
     
  4. F-passione

    F-passione Karting

    Mar 31, 2004
    173
    Orange County, CA
    That sounds pretty good. That's pretty much sticker right? If it's exactly what you want go for it. It's pretty hard to not get whacked somewhat anyway you slice it.
     
  5. zjpj

    zjpj F1 Veteran

    Nov 4, 2003
    5,938
    USA
    No - MSRP for 6 speed coupe is mid-$140s
     
  6. CChung

    CChung Karting

    Dec 10, 2003
    244
    Southern California
    Sorry, should have been more informative. It's a coupe, I thought Modena always implies coupe not spider, and has the following options: shields, rear challenge grill, red calipers, power seats and CD. I have the money now but am in no rush especially if everyone here feels prices will be dropping dramatically over the next year. I have a '03 NSX that will keep me happy for the time being but would like to get more input from other forum members. Thanks for the replies so far.
     
  7. ntingle

    ntingle Karting

    Nov 1, 2003
    52
    Los Gatos, CA
    Full Name:
    Nick Tingle
    Increases in MSRP due to the weak dollar are bound to provide some support for used prices. You could try getting on the wait list at a dealer and see what happens. I was offered a new "spare" coupe at MSRP after a couple of weeks on the list. I passed - wrong colour. But you might get lucky.
     
  8. Jimmy540i

    Jimmy540i Formula 3
    BANNED

    Jan 11, 2004
    2,450
    Los Angeles / NYC
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    The MSRP of my 360 is $158,782.00 and I paid $195,000 for this car (+ the Tax, License, Fees & Tubi Etc, paid more than $220,000.00), that's quite a bit for a coupe. I just love my interior so much that I'm willing to pay the mark-up.

    So I would say go for it! :)

    Oh, and does it have Daytona Seats?
     
  9. alanhenson

    alanhenson Formula 3

    Dec 2, 2003
    1,335
    Wait until the higher horsepower model comes(420) out. The price will drop dramatically. We may have a 348 355 senario.
     
  10. Jimmy540i

    Jimmy540i Formula 3
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    Jan 11, 2004
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    Yes but 355 & 360 does not have that much of HP difference
     
  11. sparetireless

    sparetireless Formula 3
    Silver Subscribed

    Nov 2, 2003
    1,392
    Exactly, wait till you get a taste of a $30k bump in MSRP, Americans are totally unaware of the currency fall of the USD> I forecast used '02's will rise as a result. Watch and learn.
     
  12. scycle2020

    scycle2020 F1 Rookie

    Jan 26, 2004
    3,458
    potomac
    hey jimmy, i love your car too..way cool interior...i love the modular wheels...anyway,that seems high for an 03 coupe,but they still go for more than msrp..make them a low ball offer and see what they come back with...c you can play the waiting game for a drop in prices...but life is short....i broke my hip badly last year with multiple severe injuries, i was lucky to be alive but iwasnt sure i would be able to walk unassisted again...lucky i have recovered 75% and iam getting better....anyway,as soon as i could walk and move freely, i bought my 1st ferrari....you never now about tommorow..it may not come!!!
     
  13. Juice It

    Juice It F1 Rookie

    Sep 22, 2002
    3,233
    Maryland (DC Suburb)
    Full Name:
    Jeff
    That price is way to high in my opinion. Do a search on cars.com or ebay to locate what you like and make your best deal. There are hundreds to choose from. For that money you could walk into a lambo dealer and get a brand spanking new Gallardo with full warranty!
     
  14. Dave

    Dave F1 Rookie

    Apr 15, 2001
    2,722
    Little Rock
    Full Name:
    David Jones
    Why anyone would pay over retail to have a car Today is beyond me.
     
  15. Jimmy540i

    Jimmy540i Formula 3
    BANNED

    Jan 11, 2004
    2,450
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    CChung:

    Life is short, click on the link of this video below and hope this will SPEED-UP your decision! :D


    CLICK HERE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! CLiCKY!!!


    Best of Luck!
     
  16. W00dEar

    W00dEar F1 Rookie
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    Feb 24, 2004
    3,515
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    Chris
    Maybe because otherwise you will not be able to acquire it?
     
  17. Carnut

    Carnut F1 Rookie
    Rossa Subscribed

    Nov 3, 2003
    3,714
    Gladwyne PA
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    Morrie
    The price might seem high but from what I've seen cars with warranties and low miles a still getting big numbers. My local dealer seems to be selling those cars fast a for very good money. I'm sure if you look hard enough and long enough I'm sure you can find a better deal, though how much better judging by my experience probably not that much better.
     
  18. lotustt

    lotustt Formula 3

    Aug 28, 2002
    2,026
    Full Name:
    TRM

    Maybe because they can. Maybe because they dont want to wait a ridicoulous three years for a car they desire. That waiting list is insane. If you want the car and have the cash buy it now! Depreciation blah who cares drive the car and enjoy it dont waste time worrying about depreciation. Just drive......
     
  19. TimF40

    TimF40 Formula 3

    Nov 3, 2003
    1,031
    Seattle/Bay Area/NYC
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    Tim
    Based on my recent experience, you should be able to get it, depending on options, for <$160. Before I bought my '04 coupe, I had a brand new '03 6 speed (70 miles) on the hook for $169 (about $10k over MSRP for that particular car).
     
  20. Jimmy540i

    Jimmy540i Formula 3
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    Jan 11, 2004
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  21. silverf1modena

    silverf1modena Formula Junior

    Hmmm... Well to be honest, you can find a very low mileage 02 for around 159K now. And even some 03''s in the 160's. As far as waiting for these cars to drop to 355 and 348 level. That could take years, if not never. The reason being is that the MSRP for the 360 Modena is somewhat higher than that of which the 348 and 355's were. And also, if you see some of the 355's, they are still holding there values pretty high(exempting for some of the 95's w/high miles) for the well optioned F1 or manual models. In the 90k's-120k's as a matter of fact.
    I think some of the 360's are dropping in price because the market is aware of the 420's coming out soon and there are sellers preparing for it and the dealers telling them that same story to the owners of the 360's so that they can give them less money on the trade or purcahse value. It's all marketing strategy. But once the 420 comes out and several months down the line thereafter, you will probably see the 360's prices stabilizing or even some going up a bit. Due to the fact that the 420's will most likely have a premium and a waiting list, and the dealers will try and make a quicker sale, and shift you into a 360. Meaning, they will probably hike up the price a bit again and make you compare it to the 420's higher premium and persuade that the 360 is a much better buy unless you want to wait a year or pay the premium for it. Making the buyer think and go for the most reasonable offer, therefore buying something that is readily available, because anyone who walks into a dealer is a potential customer and the seller will make that car you "WANT" into a car you "NEED". Basically it is a marketing strategy.
    Sorry for the long lecture, but back to the original point. If you really want a 360, and dont want to pay the premium, you should seriously look at some of the earlier models that have already taken the depreciation. There are alot of nice examples out there and they are basically the identical cars! They will be 20-50K less and for the money you save, you can do a major service and still have enuff money left over to put in a Tubi exhaust and enough to buy a little sedan sdo you wont put the extra miles on your car and have enuff spending money to take your lady out on a EXPENSIVE nite out!
    So yea, if you can wait, you should but I dont think w/in the next 6 months you will see a 04 or 03 dropping 30-40K. But you already have the earlier models that are readily available! Hope I didnt make thing more complicated on your decision! they are all great cars! It's a FERRARI!!!!!
     
  22. sherpa23

    sherpa23 F1 Veteran
    Silver Subscribed Owner

    May 28, 2003
    9,500
    Colorado
    Full Name:
    Bastuna

    You are absolutely correct. There is technically no such thing as a Modena Spider.

    I would definitely not pay over $160. Definitely not.
     
  23. sparetireless

    sparetireless Formula 3
    Silver Subscribed

    Nov 2, 2003
    1,392
    Wrong, get ready for a $230k MSRP on the coupes, pretend all you want, the dollar is trash, see euro vs. the dollar. Look, listen and learn. No one is sader than me.
     
  24. SrfCity

    SrfCity F1 Veteran

    Nov 1, 2003
    9,842
    Orange County, CA
    $230K??? Where you getting that from? I'd say just under $200K is more like it. They'll have to eat some of it imo. I think they're testing the waters with the CS at around $200 MSRP.
     
  25. sparetireless

    sparetireless Formula 3
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    Nov 2, 2003
    1,392
     

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