360 Buying decisions - help

I recently bought a nice ’02 F1 360 Coupe and have been extremely happy with my choices. I spent about a year shopping and working through all the same issues you mention. Following are my opinions (no more than that) on what you’re asking:

1) My research turned up several potentially serious issues with the ’99-’01 cars (cam variator, ring gear, manual throwout bearing, others) plus software upgrades which convinced me that an ’02 was the place to start. Most issues were covered by factory campaigns but it means you must work a little harder if you’re buying an earlier model. If you can’t insure yourself they’ve been dealt with (i.e., complete service records to prove it), you’ll need to budget for taking care of them (or at least paying to check) for yourself.

2) You can definitely save some money on an earlier model year. But again, you must work a little harder to be sure the money you save is not subsequently spent on needed upgrades and/or deferred service.

3) I believe 15,000 mi. on a 360 is very little as long as it’s been taken care of. Even if you don’t get full service records, I think a 360 is capable of WAY more than 15,000 miles of driving pleasure. I’ve already got more than that on mine and it keeps getting better all the time.

4) Lots of energy expended on this topic around here. I am a long time manual driver but find the F1 to be totally cool and absolutely the right choice for me. Mine has been completely effortless, very smooth and intuitive, no problems or downside at all. Others will disagree. On the upside, it makes a *much* easier drive for the ladies so if your wife might be involved, you should consider it. There was apparently a significant F1 software upgrade with the ’02 model year and I can’t imagine how mine could be any better.

5) I drive mine year round but I suspect a few months down each year are not necessarily a problem. I would suggest a general checkup by a competent shop if it sits much more than 3 months.

6) I don’t care for the auction sites except as an advertising mechanism. Mine was bought from a dealer advertising it on eBay but I did lots of careful checking on him (not on eBay) before any contact was made. I believe a thorough investigation of the dealer, a completely independent and competent PPI, and a personal inspection are all critical before making any commitment.

My 360 has been a terrific car and well worth the money and the extra effort. I think the keys to my success were (1) taking the time to educate myself so I’d know a good car when I found it; (2) carefully identifying the options I wanted so I’d be happy if/when I found them; and (3) hooking up with the right people to help me (the dealer and the PPI shop).

Now you’ve got me all worked up so I’m heading out for a drive with a big smile on my silly face….

 

+1

Great response. Having bought a used 360 myself I agree with everything Camdon said. I'd add a couple of things:

- Definitely get a PPI (pre-purchase inspection) done by someone who really knows what they're doing. Also, you can call a Ferrari dealership and read them the VIN number on the car you're considering buying to find out if all the Campaigns (Ferrari-speak for recall) have been taken car of. I know the older 360's, like mine, had at least one of them (cam variators) is pretty serious.

- If you're really "particular" you should have a body shop check the car for well-concealed damage. Given how low the front-end of these cars ride, it's not uncommon for the area under the front bumper to have been resprayed.

- As for the F1 tranny. I have one and love it. Just know you'll eat up a clutch faster than the stick-shift guys.

Good luck

Frank

 

**"If I find a 360 to my liking at an authorized local Ferrari dealer do you think I should still get an independent mechanic to evaluate the car?"**

Basically yes. I think 360F1 is right on target – not just any shop or mechanic, but one specializing in Ferrari repair and extensively experienced with the 360 in particular.

Keep in mind the dealer selling the car has already checked it out and is unlikely to tell you if he’s found it wanting. I would be skeptical of any dealer who insists the car is fine and resists independent inspection. He may not allow another dealer to inspect his car, but a competent (emphasis on “competent”) independent inspection should not be a problem. A really good inspection should cost around $400 and produce a comprehensive written report (mine was 6 pages, single spaced) and certainly include compression numbers with a leakdown test available if needed.

 

There is someone on this board (can't remember his name) who lives in San Francisco who bought a Maserati F1 to drive every day in the city. He said that going up and down the hills burned the clutch out so fast that he sold it and bought a 360 6-speed and has been trouble free ever since.

I bought my 360 with 18K miles on it 18 months ago and now have 44K miles, no problems.