Hey, im thinking about buying a 360, It is a dream to own a ferrari but I can only afford one with high miles. Friends in the motor trade have often said some engines like bmw and honda engines are just warming up when they reach 100k miles. If I buy a 360 with 50K miles for example is it likely to breakdown in the near future or are they reliable over 100K miles. Many thanks, Dan
I have a 03 360 spyder that I put 15k miles on this past summer with ZERO trouble.. Drive it regulary from Michigan to Toronto canada with no problems..
It sounds like if you can only afford a 360 with high miles you may not have a reserve fund for a good service (USD 10000) let alone if something goes wrong - if you are that stretched maybe set your sights a little lower (a good manual 355 for example) and have a contingency fund
They seem to be very reliable, but if they break it can be pricey for the repairs. Remember any car can break, just ask me about my wifes suburban, bought brand new, if it was not under warranty I would have spent more on fixing it than it was worth!
Think of it this way. You could be someone who can afford a late model 360, with almost no miles, let it sit in the garage like most owners, and eat $15K a year in depreciation AND opportunity cost forgone on the money you spent (or interest paid to float a loan). With this scenario you get the satisfaction your car has almost no miles on it (but that's not good for the car), you get the satisfaction it will have few paint chips, etc., and you get the satisfaction of not worrying about major mechanical issus because it will be on warranty. Truth is, all these descriptive statements apply to me; I have a 04-360 F1 Modena and don't drive it all that much because its so impractical and I have other cars I need to use to ferry the family around. Alternatively, you could be someone who can only afford an earlier model 360, with high miles on it. It won't be on warranty but will presumably have all or most of the 7 recalls on 360s serviced over the past years. It will have the first major serivicing, costing anywhere between $6-10K because they always find something else to fix, and if it doesn't have the first major servicing you'll ask for a $6K discount on the price. Your depreciation, whether you borrow or not, will be less than half what I claim above. And, if you get a good one, taken care of by the prior owner, it should be nearly as good as a garage queen. Finally, if you actually drive it like the prior owner, you'll have the satisfaction of enjoying the depreciation rather than peeking at it through the garage window. Have fun. Cheers, Paul Regardless of what scenario you go with, just EARMARK $3-5 per year for maintenance. It may be more, but at least you'll be more prepared for the astounding bills when you get things done.
360 motors are the strongest Ferrari has built. The dealer and mechanics at my local F-dealer say they are "Bulletproof". My car has 30k on her and she seems to run stronger everyday. Go for it and enjoy. Service on a 360 is cheaper than all other F-cars anyway. I would say $1,500 a year average. tires, brakes, belts etc. Just make sure you get a PPI done on the car and that is all serviced up and ready to go. Good Luck, Mike
Where are the high mileage 360's? I don't think I have seen any for sale with >40k on the clock. I would be inclined to pay 90k for a good condition 360 with 50k miles instead of 80k for a 355 with 15k miles in similar condition.
High mileage 360s are indeed rare. I am constantly scanning ads (because I have no life) and it's rare to see a 360 for sale with moire than 30k miles. F355s are beginning to get there...You can find plenty of ads for 30k + mile cars. In fact my 95 F355 coupe has 33k on it and it just sings. I have to differ with the claim that 360 maintenance is the cheapest. That attribute oddly enough belongs to the 456 and 550/575, because you don't have to drop the entire drive train to do a belt service.
I withdrawl my comment on the 360 service being the cheapest. I assumed that the 575, 550 where similar in service cost, my bad. I owned a 348 and the 360 is alot cheaper to maintain than that car. My service bill on the 360 have been a treat in comparision. I have replaced the clutch, pads and rotors, and access belts since I have owned her and all was very resonable. Not many 360's with high milage out there. My dealer had a guy last year trade in a 2000 360 spider with $70k on the clock! There is a guy who deserves a Ferrrai. I would look at a 99-01 360 with around 30k on the clock. With of course the 30k service, new clutch and brakes. You should be good to go for around $100-115. I would look into a Euro car too. Mine is Euro, ligher and more hp in 99 and $15k less. Mike
My 360 has over 30K on the ticker and keeps going... Image Unavailable, Please Login Image Unavailable, Please Login
I would chime in to say NOT to buy a 360 with the F1 transmission. The relacement of F1 related parts and labor costs are very high (same for the 456 automatic transmission). A nice 360 6-speed should go to 100k miles easily is you take care of it. There's a black 1985 TR driving around northern California with over 200,000 miles on it. Ferraris are mechanically solid if looked after things.
I cant say anything about the little V-8s but my V-12 just keeps getting stronger as it ages with 60,000 miles on the clock. 12 cylinders or walk.
I love the term "little v8". Makes them seem all cuddly. I have 27k on my 360 and it runs like a top. I figure it will have 40 in two years, that is if I can resist CS temptation that long. I have seen 3 360's with over 60k and they were all in very fine condition, so I would not worry as long as the service is strong and consistent.
