2002 360 Spider value

Allan,
I don't understand you already knew the outcome of this yet you ask this question to bait people into fighting with you,it's also very obvious who your friend is and maybe he doesn't like people knowing what he paid for his car.I miss seeing him post here maybe if I email him this thread he'll come back for a minute.

 

Right, again because look who you're dealing with. Dealers aren't even offering $160k for trade on 360 Spiders, so why wouldn't private party sellers let them go for that if they can get it?

Answer: They will if motivated.

 

Tyler
I had the date wrong. With tax it came to 149K as Allan said. We're talking about the same car.
Tyson
I miss him too on Fchat. He's doing fine.

 

Interesting thread. The baiting tactics are unnecessary, but if the buyer did get the car for that, it is an exceptional deal. However, probably not a very true indication market value.

FYI Allan: a Gallardo in my neck of the woods was just purchased for under list price. And, just about anyone can get one at list, just about anywhere. Fact. I think the market right now is really soft for most all cars in this price range. The Gallardo is not the only car saturating the market. What about the Continental GT, the Ford GT, the DB9, 2002 Murci's, etc. There are many, many options for people that are spending $150-210K.

You think the 360 values are falling now. Wait 18-24 months for the Gallardo values. Considering the car can be had easily right now (just a few months after launch), and that the 360 replacement will be ready within 2 years, the Gallardo is going to be a bargain in 18-24 months.

 

Clax
I think it's the # of cars as well. IMHO there are too many chasing the same buyers. That is a real price as are your Gallardo prices. Look at BJ auction non collectable F cars are coming way down.

 

So let's see: prices are way down. But dealers did not notice, nor private sellers, nor buyers. Call any dealer and try to buy a 02/03 spider for even 180. It is not going to happen.

Wholesale of an 04 with 4000 miles is around 195. 160 maybe was for an 01 with 8000 miles?

AW

 

Very true, very true.

360 Modena & Spider
Gallardo
Porsche 911 (in various forms)
Ford GT
Continental GT
DB9 Coupe & Vantage
SL55
and more, I'm sure

Interesting times...

The only cars that appear safe from this cannibalistic activity are the true supercars (Enzo, Carrera GT, Zonda, etc.).

 

Clax
I think there's going to be a glut there as well. 1500 CGT's is a lot of 440K cars. Look at the very poor sales of the new RR and Maybach. I have a friend who has a friend who is a P dealer in Germany. Because of the Euro/$ you can buy a CGT in the US for 56k less than in Germany. The German P dealer said even at the lower price he wasn't interested. He said he had very few if any real orders for the car.

 

What? We've been repeatedly told on this forum that this is impossible!
Hmmm.....
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Tyson, I have had the pleasure of meeting Stickndice here in Houston, and he indicated that he got burned out by the F-Chat flame wars. Despite having an affiliction for a certain brand of kit cars , Stick really likes all kinds of cars. Unfortunately, I understand that our typical Texas hospitality has not rubbed off on our local revenue enhancers when it comes to Stick's driving habits <grin>. Somehow I think that when he gets his 1500 hp Lambo that this situation might not improve.

Take Care, DrTax

 

Let me get this straight. A person sells a 2002 360 Spider for approximately $50,000 less than the true market value of the car. This same person then goes out and places an order for a Gallardo. The two transactions are consistent.

 

Very well said.
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Sounds to me like this guy is going to get screwed 2 times. Once for selling the Spider for less than what he could actually get, then when he tries to sell his Gallardo in 24 months, the value is going to be a joke. If I were him, I would have held onto the Spider.

 

This guy doesnt sound like the smartest bloke in the world - certainly no brain surgeon

 

No doubt 360 prices are dropping. There is an abundance of used models - especially spiders - around that are barely used and the market is not getting any bigger while the number of new fast cars in that price range are. Adding to all of this is the new 360 replacement from Ferrari on the horizon. Nevertheless, are they dropping that much that quickly? I have a hard time believing that I can get an 800 mile 360 spider for $150k with including everything even 2 times a month, let alone every day.

 

he post on exoticcarforums ..but i guess you arent very welcomed there ...

 

First of all, I thought that this was one example, and that the one car you were talking about was sold to a friend of ours for $150k. At any rate, what you are telling me is that everyone is selling their 800 mile 360 spiders for 150k and what I am telling you is that I have not found that to be true - yet. It will happen, and a lot quicker than many people want to believe but there are tons available for around MSRP still, not $150k.

And because you seem so defensive, I did not call you a liar - I called you optimistic. 2 examples do not sum up the entire marketplace and for someone in your line of business, I would have thought that you would know that.

 

Not sure who they are talking with, but I could have a yellow car or black car at MSRP delivered to me within a week. That's a fact. Obviously, the people you know don't have the right contacts. And, a black car was just purchased in my area for under MSRP 2 weeks ago. Have you ever heard of a new 360 selling for under MSRP? Even 5 years into production? Nope.

No question, the 360 values are dropping. Heck, the car is now 5 years old! Big deal! Since when was a car an investment? You are telling us to hold onto our shorts, while the shorts are already creeping down on the Gallardo owners -- and the paint is barely dry on those cars!

Lambo jumped into the $150K game too late, and with a design that is less than breathtaking. In reality, Ferrari is (in many ways) still in the driver's seat, considering that the 360 successor is coming out within 2 years. Then, Lambo (et al) will be playing catch-up, only 2 years into their product cycle.

Allan, I am not a Lambo basher. I am a very objective car enthusiast. I love the Murci. The Gallardo, that's another story. I love the 360. Sure the value is dropping, sure it could use another 100HP to compete with the performance of the Gallardo, Ford GT, etc. (and honestly, I think I'd rather have a Ford GT than a Gallardo, but that's another story). One vehicle cannot stay at the top of the heap in it's class forever. The 360 will be 6 or 7 years old before the new car arrives. That's a pretty solid run. Then, the Gallardo gets to play catch-up, and the cycle starts all over again.

 

Allan, if my kitcar comment caused you or Stick any pain, I apologize in arrears. HW, having met Stick, he can take it. You, on the other hand, appear to be a very senstive soul. Perhaps you protest a bit too much, eh?

Dr Thick-Skinned Tax

 

Well said.

 

I see this often on this board, and it's rediculous every single time. The Murci is fawned over, the Gallardo is attacked. How is that possible when the Gallardo has nearly identical styling to the Murci, a nearly identical power to weight ratio, a much lighter overall weight, an interior that's more functional, and an optional e-gear system?

The answer is F-car 360 bias.

The Gallardo is actually getting better print reviews than the Murci, and it's winning more shootouts against the competition when compared directly. With the exception of the car's rear end (which I think is fine, but all the girls here cry in their hankies about) the Gallardo has a nearly perfect design. So the bottom line is that if you like the Murci, there is NO reason you shouldn't be giving the same accolades to the Gallardo.

In fact the little Lambo has set the performance bar so high that it's entirely likely that the NEXT 360 still may not match it, and they'll still be chasing it. That's what you get when you can turn a 7:52 time at the Ring, while a stock 360 is nearly 20 seconds a lap slower. Even a 360 CS gets blown away, and we're not talking about a drag race here, we're talking about a track with over 150 sharp turns.

Open your minds a bit, stop feeling threatened by the Gallardo, and realize that if this car had a Prancing Horse on it and was targetted at the TR crowd you'd be singing its praises to anyone that would listen.

A "Ferrari Gallardo" would sell for $250k easy, as evidenced by what they manage to charge for a 575M which isn't even close in performance.

 

No surprises here. Well said.

 

Allan,
I love Lamborghinis as much as anyone and I have wanted to own one since I was 10 years old, so stop acting like I am bashing Lamborghini because it's not Ferrari.

I had a slot on the Gallardo delivery list. I did a 20 mile test drive with the car a few weeks ago. It's fast and it handles. Is it faster than the 360? Absolutely. Will it out handle a 360? I am pretty sure it will, but I don't really know. Do I want one? Not really. It's not the Lamborghini I fell in love with as a kid and a teenager. It's far from it. It feels like a 500 hp Audi TT. I hoped into the 40th Anniversary Murcielago for the same drive and it's 10 times the car the Gallardo is, although it's a bit more of a tourer. I like it but I will probably opt for a Diablo 6.0 when the time comes. The Diablo 6.0 is that bridge between the Italian feel and heritage and the German reliability and more of a real sports car, IMHO.

Here's the kisker, though: I don't know why you keep saying how awesome of a car the Gallardo is. Anyone who's driven one knows what they're like. We know the speed, we know the handling, but guess what? There's more to owning a car than that. Besides, you can say what you about how great of a car it is, how it blows the 360 out of the water, etc. etc. etc. The bottom line is that you don't think they're that great yourself. How do I know? You don't want a Gallardo. You've said it a thousand times on here. You're not going to a dealership to buy one, and you're waiting for Murci prices to drop a little more to buy one of those instead. And that to me speaks louder than any 100 posts of your on here about how great of a car the Gallardo is.

And just so you know, as someone in similar shoes, I cannot fault that decision one bit. It's the better way to go.