2002 360 $70k ???

A thorough -- very, very thorough, PPI AFTER all of the service has been completed will be critical.

Given this was a repo car -- one must wonder how much, if any, care was taken with this vehicle. Even if service records show annual maintenance -- it may have ~30K hard miles on her.

On the other hand, it could be a great find.

I'd say do strong diligence on this one just in case it's a diamond in the ruff but spend a little more on something that has a clean history.

 

This is not an advert for my car, but I'd sell my 2000 360 with 24K miles on it for about that. And I have all my service records since day 1, been carefully maintained since day one by dealers (mostly Algar) and I'd toss in the belt service that isn't quite due yet.

I don't see a 2002 with about the same miles as being a better car, especially as a repo with some missing history.

Now my car isn't black/tan, it's titanio Grigio/black but does have some nice factory upgrades and a Tubi exhaust.

Sooo... this doesn't sound like a steal to me.

DM

 

I paid $68k for my 25k '99 360 Modena with a service for new belt and oil change included. Single owner, all records provided. It needs breaks (pads and rotors) but the clutch is ok.

That price is reasonable and a good deal currently as long as the PPI is clean. It's certainly not a steal, but I'd go for it.

I LOVE my 360!!!

-Matt

 

The "STEALER" is hard at work again, insert laughing out loud!! Yea, my guess they won't be paying over $50k for the car and are looking at a huge profit!
Without a selling price of $65k or lower, I would walk. Tooooooo many nice cars out there to be had.

My .02

 

You want a 430. Get a 430. Patience, my friend.

 

"You get what you pay for."

 

$70k is overpriced. I was offered a similar car ( actually less miles) for $58k this week and had recent belt service ( last month), literally 3 miles from the F-Chat Headquarters. Nice driver-7 out of 10 . Called salesman last two days but no return phone call. Might have sold.
http://www.autotrader.com/fyc/vdp.jsp?ct=u&car_id=286974206&dealer_id=27532870&car_year=2000&doors=&systime=&model=360&search_lang=en&start_year=1981&keywordsrep=&keywordsfyc=&highlightFirstMakeModel=&search_type=both&distance=25&min_price=&drive=&rdm=1293169024804&marketZipError=false&advanced=&fuel=&keywords_display=&lastBeginningStartYear=1981&end_year=2012&showZipError=y&make2=&certified=&engine=&page_location=findacar%3A%3Aispsearchform&body_code=0&transmission=&default_sort=newsortbyprice_DESC&max_mileage=&address=76034&color=&sort_type=priceDESC&max_price=&awsp=false&make=FER&seller_type=b&num_records=25&cardist=5&standard=false

 

You're going to pay about 40 to 50 grand more for a F430 coupe. Of course, it will have less miles and probably not need any maintenance done to it.

But, if you can afford the F430 and don't mind spending that much on a car, my suggestion is to get one.

 

With all due respect, I wouldn't use a 360 sitting on a Nissan Used Car lot as the standard for 360 prices in the current market. As someone has already said -- you get what you pay for. Let's keep apples and oranges separated.

 

i would have taken that 360 for $58k, THAT is a steal!

 

That one for $58k scares the crap out of me. Like everyone just said, you get what you pay for. There's GOT to be a reason it's that low!!! Anything way over or UNDER current market value should set off alarms.

I didn't look for a steal. I looked for a clean car, good records, single owner and clean PPI. That's worth $$$ to me, as long as I ended up paying fair market value for it.

Most people who think they found steals end up getting robbed themselves. Hidden problems and expensive repairs are usually built into every steal.

Don't be penny wise, and pound foolish. Buy a solid car, whether it's a 360 now or a 430 later.

I got in with the 360; I didn't even drive the 430 cuz I knew I would like it better and want it. Once I'm satisfied with the 360 in a few years (and waiting for prices to come down on pre-owned 458's) I'm gonna jump to a 512 TR. Than to a 458 or 599.

I can't afford to keep them all, which I'd love to do. And there are so many wonderful fruits in the Ferrari grocery store.

Enjoy whatever you buy, they are all delicious. Just don't buy one with a worm!!

-Matt

 

Hate to burst the bubble but the car just got back from the major service ( belts) two weeks ago at Boardwalk Ferrari in Dallas ( authorized dealer).

 

The repairs and service needed (if done by a professional) are going to add up to at least $10-12K, maybe as high as $15K ---- making it an $80-85K realized purchase price.

That's overpaying by a quite a bit, IMO for that particular car.

If it's an (undesirable to me) F1, I might offer them $70-75K with ALL the needed repairs and parts included.....IF I was really smitten with the color, coupe, etc......

 

I know of another red/tan 360 coupe in the area with a new service (NOT the same car) that just sold for far less than that.


It's a good time to be a buyer.

 

+10000. For a driver thats "7/10" on a nissan lot, $58K plus probably $10K in deferred maint plus whatever damage from deferred maint- "you get what you pay for" applies. With these threads there is always some car posted that's below market price, and once you start researching the cars on the market (be it 360 or any other car) find there is a reason for the abnormally low price- markets are still pretty efficient.


Question to original poster- is the car F1? Price may be market correct for the actual purchase price if F1, going into winter, non-red, etc... Tough to say difference in price between F1 and stick- personally I think there is as high as a $10K delta though (w/stick higher of the two)- i.e. with a mint, low mileage well documented car no questions asked, I'd pay $85K for a stick 360 vs. $75K for an F1 as an example (the numbers might be higher for a truely mint car but you get the idea).

 

Any car that has been repossessed was not well cared for. If someone is not paying a bank loan they are not paying for proper service. Just like a foreclosed house they are not maintained and worn out. I would keep looking. There are too many well cared for cars out there (sometimes it doesn't feel that way). Saving a few bucks will cost you more in the end.

 

No doubt.

I think if I were in the market for a 360, I'd just post an ad on Craigslist saying, "Cash Buyer Wants a 360" ---- and, let them beat my door (email inbox ) down - lol

Even in the 80's and early 90's there were no near as many 308's for sale flooding the used car market like the 360 is today. The 360 may well be destined to go down in Ferrari history as "The model the fewest owners wanted (or perhaps, could afford?) to hold on to"....

 

When it gets to the same price I paid for my 308, I'll consider buying one.

 

My bad --- I didn't read that carefully enough

Then 70K doesn't seem so out of line, after all ---- if everything else checks out, and you really like the car.

 

Taking inflation out the equation for the true value of a dollar then vs. now vs. the future.....you might just get your chance!

I still believe the 360 is the "new 308" in many respects.

 

I have a secret stash started for a 360 spider when they hit 60K. I don't care when it is.