360 with rolled back odometer - worth the risk? | FerrariChat
Buy

360 with rolled back odometer - worth the risk?

Discussion in '360/430' started by Alexander Postalian, Mar 18, 2024.

This site may earn a commission from merchant affiliate links, including eBay, Amazon, Skimlinks, and others.

  1. Alexander Postalian

    Alexander Postalian Rookie

    Mar 27, 2020
    21
    #1 Alexander Postalian, Mar 18, 2024
    Hi all,

    I found this car close to me:

    https://www.jordanmotorcars.com/used------ZFFYU51A7Y0121035?utm_medium=WebsiteClicks&utm_source=CarGurus

    I like the color combination, and it might be one of the cheapest factory gated manual 360s in the country at the moment.

    I am willing to take it to a reputable shop for a PPI, and I am willing to spend ~$20K bringing the car up to snuff with service and addressing known potential issues (I would spend this money nonetheless even if the car were $120K since I would not trust prior owners much). The car does not need to be cosmetically perfect.

    I just want the car to drive, enjoy, and perhaps not lose much money on. I understand the odometer rollback is A MAJOR CONCERN. I would assume the car is ~60K miles (but who knows).

    Nice price (for a drivers car) or crack pipe?

    What say you modern Ferrari erudites?
     
  2. energy88

    energy88 Three Time F1 World Champ
    Silver Subscribed

    Jan 21, 2012
    32,240
    West of Fredericksburg, VA
    Full Name:
    John
    #2 energy88, Mar 18, 2024
    Have you actually seen the car yet? If so, what is odometer reading? Photo looks like 9,429 to me. CarFax says most recent is a smidge below the notorious 30,000 landmark.

    Wow! That car has been everywhere, even Canada, and CarFax also shows a discrepancy between km and miles that does not line up very well either before it was officially flagged.

    Car obviously has a "story." Maybe odometer was disconnected or swapped out? You may want to augment your 60K assumption by looking at pedal wear, seat wear, etc.

    Try to figure out the value of a car with a "story" and offer no more than that.
     
  3. Alexander Postalian

    Alexander Postalian Rookie

    Mar 27, 2020
    21
    #3 Alexander Postalian, Mar 18, 2024
    It probably has 60-70K miles, but who knows.
     
  4. Bullfighter

    Bullfighter Two Time F1 World Champ
    Lifetime Rossa Owner

    Jan 26, 2005
    22,599
    Gates Mills, Ohio
    Full Name:
    Jon
    #4 Bullfighter, Mar 18, 2024
    Last edited: Mar 18, 2024
    I wouldn’t trust the prior owners at all.

    If you think $20K is going to cover known and inevitable mechanical issues … good luck. And you’ll always have a relatively common Ferrari with a big asterisk in its history.

    Personally… I’d keep looking.






    Sent from my iPad using FerrariChat.com mobile app
     
    Demigod555, RedNeck, anunakki and 2 others like this.
  5. ginoBBi512

    ginoBBi512 F1 Rookie
    BANNED

    Oct 9, 2016
    3,535
    SO CAL
    Full Name:
    GINO RUGGIERO
    #5 ginoBBi512, Mar 18, 2024
    Well, it would be worth a PPI , whether you buy it or not. Ferrari motors have always been bullet proof. Its the ancillary stuff you have to worry about. Maybe negotiate the price down even lower. You might end up with a gem. It seems you have the money to fix whatever might be wrong with it.

    If you get a good feeling that the motor and transmission are solid, and you trust the PPi, maybe you should buy it.
    Good luck

    G
     
  6. Il Tifoso

    Il Tifoso Formula 3
    Owner Silver Subscribed

    Oct 22, 2013
    1,644
    SF Bay Area, CA
    Full Name:
    Ruben
    #6 Il Tifoso, Mar 19, 2024
    The most expensive Ferrari to own is the cheapest Ferrari to buy…
     
    BerkeS, nessus-gte, tazz99 and 8 others like this.
  7. Texas Forever

    Texas Forever Eight Time F1 World Champ
    BANNED Rossa Subscribed

    Apr 28, 2003
    85,600
    Texas!
    #7 Texas Forever, Mar 19, 2024
    No.
     
  8. 83Mondialqv

    83Mondialqv Formula Junior

    May 18, 2021
    338
    New York
    Full Name:
    Vito L
    #8 83Mondialqv, Mar 20, 2024
    I would stay away from that who knows what else is wrong with it. I don’t know but rolling back the odometer is illegal in most states. I know in New York you sign a waiver that states the odometer reading is accurate to the best of your knowledge.


    Sent from my iPhone using FerrariChat
     
  9. ipsedixit

    ipsedixit Formula 3

    Aug 21, 2014
    2,344
    Behind the wheel of a Pista
    #9 ipsedixit, Mar 20, 2024
  10. Alexander Postalian

    Alexander Postalian Rookie

    Mar 27, 2020
    21
    #10 Alexander Postalian, Mar 21, 2024
    UPDATES - CLOSING THE LOOP

    I spent quite a long time researching this car. I called some car shops in Edmonton, Ferrari of Alberta, and Ferrari of San Antonio - all of which were involved in caring for the car. I posted in Ferrari Facebook groups and FerrariChat. I finally had the opportunity to speak with the previous owner. Then, I drove to San Antonio, TX to look at the car myself. Here are my overall conclusions - which might help a potential future buyer.

    - The car presents relatively well for being the cheapest manual 360 Modena in the country. Exterior 6.5/10 (some scuffs, lots of swirls, fake Scuderia badges), Interior 4/10 (trim pieces in bad shape, some lights not working, a few buttons broken, dash leather is shrunk and cracked, battery tray is rusted).
    - There are lots of receipts/invoices from work having been done on the car. Which both represents attention, and a lot of problems. The previous owner confirmed that he had to do a lot of work on the car as issues kept popping up - but he sounds like a genuinely attentive guy.
    - There are some significant unresolved mechanical and electrical issues as per some of the parties queried - I am not a mechanic. The car had a bit of a rough start and idle, but felt OK during driving.
    - The odometer issue is, as I suspected, real and not just a clerical issue with kilometers and miles. The instrument cluster was fried during a reverse boost and it had to be replaced. The ballpark estimation of the current mileage is ~45,000.

    I am unfortunately going to heed everyone's advice and pass on this car for now. I may revisit the idea if the price continues to drop.

    Thank you all for the assistance,
     
    EastMemphis, Il Tifoso and Texas Forever like this.
  11. energy88

    energy88 Three Time F1 World Champ
    Silver Subscribed

    Jan 21, 2012
    32,240
    West of Fredericksburg, VA
    Full Name:
    John
    #11 energy88, Mar 21, 2024
    Sounds like this car's next destination is going to be Beverly Hills Car Club!
     
    Bullfighter, Il Tifoso and Texas Forever like this.
  12. Bullfighter

    Bullfighter Two Time F1 World Champ
    Lifetime Rossa Owner

    Jan 26, 2005
    22,599
    Gates Mills, Ohio
    Full Name:
    Jon
    #12 Bullfighter, Mar 21, 2024
    Glad you saw it in person and made the right decision.


    Sent from my iPhone using FerrariChat
     

Share This Page