Advice on price & service 02 360 4500mi

I'm not an owner yet either, but I am researching now to buy one as well. I am also looking for a low mileage, mint condition 2002-2004 Modena (I prefer red though). I'm pretty sure that all the guys here will back me up. I'm going to say DO NOT DRIVE IT until the belts and a full fluid service is done! That service should be done every 3 years. I personally think that it is a very paranoid #, but that is the factory recommendation. I'm sure you can go 5 years between service safetly, but I wouldn't be able to recommend it of course. 10 years is way too long for a belt service. It is not necessarily an issue with the belts breaking, but the tensioners and bearings are known to fail and should be done with the belt service. Other things to consider when buying a car that has not been serviced is that the fluids get contaminated with moisture, acids etc. Again, I don't own one yet, but everything I told you is from doing my own research on this board, as well as talking to the excellent mechanics at Bradan service center. Make sure you take all that into consideration when purchasing the car. If I had to guess, you are looking at about $5,500 in work, but I would leave a buffer of a few thousand more, for unforseen stuff. By the way, how much is he asking for the car?

 

Start off with the car needs a full service - and that other issues will be found to fix during the inspection.

I would say at leat $7K to bring the car up to snuff - maybe as much as $10K - maybe even more. Cluthch????

A black/black 2002 6-speed with few options (no Daytonas???) and almost no miles should go for about $85K providing all other boxes (keys, fobs, books, tools, accessories, etc) are checked.

Youi need a full service and have unaswered service questions.

Once all of that stuiff is taken care of you should have a primo car.

I would say a reasonable price would be about $78K and you do the service - you take the risk and possible come out sweet ort a bit sour.

Or - you agree to split the service cost - share the risk - with you in control of what is doen becsase you want EVERYTHING done - and give him $82K.

Either way you should be out of pocket about $86K for a freshly fully serviced low mile car.

No way he will get $85K for the car as it sits.

 

Money wise I think the last poster is right on. If a deal is made I would flatbed the car to a dealer. Until 10 year old belts are done I wouldn't chance it. Plus I'm sure there are some recalls due (cam variator possibly?). I would pursue this as it's sounds like a straight car that has no baggage. Let us know what happens!

 

Couldn't agree more with PFSEX on price and other comments. That said, expect the unexpected on very low mileage cars. Purchased a 2003 360 F1 garage queen with 4,600 miles from private party a couple months back. Prior maintenance records good (belts, tensioners, bearings, annual service 2 yrs, 750 miles ago by independent). Dealer PPI and post purchase work verified belts etc., but an odd thing popped up when they tried to flush the brake fluid. It had started to crystallize and turn to jello. Dealer disassembled the entire brake system (master cylinder, ABS, calipers, lines, etc.) physically cleaned, flushed with cleaner, re-assembled, flushed again with cleaner, then flushed multiple times with brake fluid. All good now after nearly 1,000 miles, but the dealer and I question the completeness of the independents "annual service" a couple years ago. Lessons here...drive the car as much as you can and have the recommended services (mileage and time/date) performed by a reliable group. Good luck!

 

Alternatively, if you are going to drive and put miles on it there's my completely sorted 360 for a reasonable price:

http://www.ferrarichat.com/forum/vbclassified.php?do=ad&id=9586

Not a garage queen. I love this car but have too many, one of them has to go.

If you do go with the other car I agree with the previous posters, I would not drive that car without a belt service. You could create one very expensive mess.

 

I'm going to be totally honest with you.

Pass on this car.

Why? It's not what you want. You want a driver and it's not worth paying extra for a garage queen that's going to need service right out of the box.

If you really want a 360, do your research, find the color/combos/options you want, and get one that's got a few miles on it already and been well maintained.

Don't get "Ferrari fever" and buy the first one you see. Get a cheaper and better maintained one and put on all the miles you want.

 

I agree!

 

Isn't this what we all did?

 

I have to admit, I did that. Touche'!

But I was young and stupid.... I like to "think" I am wiser now!

 

A lot of them do.

Look, if you want this car, just make sure you're not overpaying for a car that's going to drop in value a lot simply because you want to drive it. And, make sure it runs properly before you buy it because these can get real expensive real quick. The car has done about 400 miles a year. You're going to put on 3000 miles a year. That's a HUGE difference pre and post. After one year, it's no different than most other 2002's out there.

Good luck in your decision. I'm sure it's a great car. I only hope it's really want you want for all that green dough.

 

Almost no way that service is gonna cost 10k for that car. But I agree if you're going to put miles on the car go out and buy one that has more miles for a better deal. Just do ppi and make sure it's been maintained and serviced. From what I've heard older cars with really really low miles tend to be more unreliable than cars with more miles. Fins one with challenge grill and Daytona seats. Just my $.02

 

I full major service for a 360 should be around $3600, give or take, depending on local labor rates and markup for parts. That should include belts and tensioners, all fluids including transmission and coolant, filters and plugs. It may not need any more than that. Good luck.

 

Bob,

I just noticed you are now "the mayor" nice ....Bullfighter should be called the Chairman and Terry should be the Professor.

About this car, if you get it for 80 I think you end up spending 10k +. Capristo is 5k challenge grille is 2k alone

 

You are looking at the situation as if the glass is half full - in these circumstances you have to look at the situation like the glass is half empty.

Yes, a full belt service is less than $5K. But who knows how many other problems will be found during the inspection. A car that has been sitting for 10 years and really hasn't been looked at in 10 years can have multiple other problems. Oil leaks come to mind, leaking seals, coolant-radiator problems, failed mounts, slipping clutch, A/C leaks, clogged injectors, etc. etc. etc.

Thast is why I recommended they share the cost risk on the service - repairs.

 

He's asking way too much. A ten-year-old Ferrari with 4.5K miles isn't preserved, it's neglected. I bought a "cream-puff" Ferrari with 7K miles on it that was eleven years old. It cost me $15K to make it a perfectly sorted driver's car, but that's what I expected, and that was reflected in the price I paid (The car was a rare color and configuration, or I wouldn't have bothered).

Tell him to take $5K off for the belt service, and since you are in the boonies, $2.5K off for transportation expenses. Then you'd be in the ballpark, IMHO.

Frankly, I'm no longer interested in ultra-low mileage f-cars unless they are very rare and worth the time, effort, and money to RESCUE (That's what you'd be doing with that car; rescuing it). Much better to find one that's been driven at least 1K miles per year with service records, unless you are absolutely, positively sure you're up to spending the time and money to get it up to snuff (Lots of frustrations involved with the process too, but a big satisfaction payoff when you're done). Since a gated black/black 360 is no great rarity, I'd frankly pass (If it had the sunroof, I'd think about it).

Cheers,

George

 

After seeing the post here...I'm glad i bought my 360 with 47k on the clock and and now has 62k after two years...
reason being ...NO ISSUES!!! I have spent $2k in two years ...And because I have so many miles I dont think its sellable so now its a heirloom ( don't tell my kids...lol )

 

I was also about to buy the first one I saw. It sort of takes over your mind in a way and doesn't let you think as you normally would. Similar to some women.

Luckily I flew across the country to buy the right one.

 

Great to see people enjoying their car!!!

 

Yes very much so . Just drove to Delaware last Saturday in the rain. They get wet and survive . Planning a trip to Virginia in two weeks then Ohio and North Carolina this summer.

 

I passed on a black/beige F1 360 with a sunroof. Had shields and 430 wheels too. Florida car. The owner just seemed to anxious to sell and I didn't like the vibe I got from him.

I probably make too many decisions based on feel, but it's worked well for me so far... well, except for my ex-wife. lol.

Cheers,

George