Buying super low mileage 360

It all depends on price. You wouldn't mind putting $5k into it...well, that seems low. I've seen people buy a car and immediately drop $30k into it. Will the dealer let you get a 3rd party PPI? That would be worth it's weight in gold.

 

The dealer will probably be of little help but should allow a PPI. If the car has been in one location for some time, I'd reach out to all of the Ferrari and high-end mechanic shops in that area to see if this is a car they have serviced in the past.

 

Not that it's bad idea, but why get a 360 when you have the 458? I have a 488 and a 360 right now and they're both great, but i find that the difference isn't enough to motivate me to drive the 360 often. If it were a manual, that'd be different...

Things to consider if you decide to pursue the above:
1- Belts are a near certainty, it's a time based issue so even an inspection wouldn't do you much good unless the belt was stamped with a date that you'd know meant they were changed recently - figure at least $4k for that
2- Is it a Spider? If so, the elastic bands on the top are likely shot and need to be fixed, not overly expensive, but will require work
3- The exhaust, original headers or no? If original and US market car I'd expect to want to replace those preventively at some point
4- Heat Exchanger - lots of discussion on those, suspected cause of issue is limited changing of coolant and it breaking down the HE and allowing coolant into the trans oil. Limited history of service could mean limited changes and a risk
5- Exhaust muffler - white powder can spew out when they break down, nothing major just an expense

I'm sure I'm forgetting something, but all of the above can be fixed, they're just risks when you don't know the service history. If you're comfortable getting into a car that might need some work, no harm at all. If you're buying it because you expect low miles to equal perfect car that's a flawed idea when you bring age into the equation, Low miles on a new car, good. Low miles on a 20 year old car might actually be bad.

 

I don't get why you would want an ultra low miles car that has no records to back it up.

You do know these are so simple to clock right?

 

Anything rubber will most likely be dry rotted after 22 years of under usage, seals also. That was true of my Diablo when I bought it with 9k miles. The complete replacement was just over $10k.? Oops, forgot about the suspension bushings, another $4k

 

An f1 360 is not a rare car. I would just wait till something local shows up that you can personally check out and drive, or have your mechanic inspect. Also the premium for low miles is a bit of a waste if ur going to turn it into a driver anyway.

 

Clearly he loves the 360 design and rawness of the car which starts getting lost after the 430. The 458 and on start feeling like BMW sports cars etc. If the dealer can’t produce records then for sure a PPI will sure up most of your concerns leaving only the belt service possibility left which I would negotiate with the dealer to reduce the price some to compensate for that cost. A Ferrari 360 isn’t as easy for people to buy as some might think. Financing it is difficult for most so it leaves all cash buyers which would require you to be in the upper 5% or the special 1% of income makers in the USA. I personally would move forward with the car if it was from a reputable dealer and they will most likely move on the price based on the length of time these typically take to sell. Most dealers are on a bank floor plan paying monthly interest.

 

Low mileage is OK but I usually look at the interior wear. Most folks overlook that but I feel like it's important to me since costs can also be pretty damn expensive ( my 360 had a new dash installed before I bought it @ 21K miles). Now if it's a DD, then maybe not a big deal. But with that said, a 6000 mile car should have virtually no signs of wear. Sometimes the mileage can lie but the wear experienced to get there usually won't. I would be opposed to paying a premium for the low mileage since there is not any way to prove it or that it was properly maintained. Hard to think with your head and not your heart with these cars, but I try to. If you have the resources to "put the car right" then so be it. I would think the mileage in a non issue. I'd be more concerned if the car is the car I want-- The color combo, the options, the cosmetic condition, etc.

Not going to see the car is gamble of course. You will need to be willing to understand that certain things will be exaggerated and even may have been avoided when photos are taken. Certain areas can be left conveniently cropped out of the frame ---and of course it's 22 years old. Low mileage or not, it's been hanging around a while. I only mention this because I did buy my 360 without personally going to see it-- and although I had a PPI "of sorts" there were some disappointments when the car arrived. Photos even nicely done never really show a car in the way you can inspect it in person.

I was in Florida and the 360 I bought was in CA. So like you, going to see the car in person was just not feasible to me. Lucky for me there were records and I have not had any issues other then routine maintenance for 5 years.

Best of luck. These are great cars and IMO, the last (and newest) Ferrari I will buy. I see you said you love your 458. I too love the looks of a 458. But a test drive left me kinda...Meh with all the Tech. After driving the 360 as a DD I kinda think you will see it in a different light.

Best of luck, enjoy.

 

Where is the car located? Calif cars...usually pretty good. Texas/Florida cars eh.....high humidity and heat. I always think exotics go to the east to die...sorry not trying to offend anyone from there but environment does play a significant roll. especially if the car has sat stored for a long time. I would look for a driven car with more miles personally if you want to drive it a lot. My 04 360 gated has 47K miles and seems to run better the more I drive it. HTH Cheers!

 

I've owned both the 360 and also the 458. Both are great cars in their own way. The 360 is more analog, which is very enjoyable. The 458 is sort of like a very powerful version of the 360 mixed with an iPhone; the 458 has a lot of cool electronics to fool around with, which the 360 lacks. Both cars have absolutely beautiful lines, especially with metallic paint.

Me, personally, I would not buy a 360 with an F1 gear box. If I'm not mistaken, the F1 in the 360 is single clutch unit, whereas the F1 in the 458 is a far more modern and robust dual clutch transmission. My 360 was a gated 6 speed manual and was just an absolute joy to drive and shift. Straightforward, fun, dependable - also, very sought after (i.e. should hold its value more). I'd try to hold out for a manual gearbox if you can.

I wouldn't be overly concerned about the belts. If you've ever seen a 360 motor out of the car, those timing belts are massive. Myself, I wouldn't hesitate to drive on the original timing belts for 20K or even 40K miles, before starting to consider replacing them. Now if you track the car, that might be another story; however for daily driving, the belts are probably not a major concern. The clutch (F1 or manual) is probably more something to look into, although on a low mileage car you are probably fine there too.

One final thing to add here is that some of the 360's in 1999 and 2000 had odd ball type issues. My 2001, for example, had the gas gauge error thing. I had to pull the fuel pump out and upgrade that. Also, a great many aging 360's suffer from corrosion on the alarm circuit board, which can be a hassle to address (I have an old thread about it floating around some place). Sticky radio knobs, etc. is another thing to watch out for.

But yeah, manual gearbox... that's my advice. Also, 2001 or later, if possible.

Ray

 

Mostly agree ^^^
... and absolutely you want the last years of the 360 from 2003 on. Most gremlins are sorted and the TCU is amazing. For a guy who drove a gated car and an F1 before my purchase, I can tell you the F1 is my choice. Romance is nice concerning the gated but truly a late TCU F1 car has left me amazed and have enjoyed every drive-- both leisurely and aggressive. The F1 is a remarkable experience and one owes it to themselves to drive both the stick and an F1 before pulling the trigger on either. And remember, the F1 was Ferrari's choice for both the Challenge cars and the Scud. To add every sports car that I bought before in my life was a stick.

Seems to me the 360 represents the changing of the guard for Ferrari when the 458 made it's debut. I drove a 458 and I really wanted to like it since I loved the looks of the car. But the drive while powerful and smooth, made me feel detached somewhat. The digital dash of the 458 is of course a natural progression, I get that. I just don't warm up to it. I guess I'm just old school. Both cars have their allure. But for me I have to say the 360 is the newest Ferrari I will own. I'd be willing to have the "Trev treatment" performed on my 360 with the money saved on the extra $130K to $150K I'd have to spend on a 458.

Cheers, Ken

 

I would never tell someone not to buy something they really wanted. The F1 is not the shining beacon of reliability as it ages. I had a friend down here have the F1 light come on and well.. you need a scanner to know WHY the computer felt the need for it to come on. Everyone keeps saying properly serviced, but even properly serviced cars will have issues with time. The cars are 20 years old. I won't be surprised if the light comes on at an intersection and it just won't go into gear.. cuz computer.

That being said, a driven Ferrari is a reliable one. Mine is a 3-pedal manual car and I drive it every weekend. It's been as reliable as my Boxster. I turn the key and it goes. I'd have it inspected just to get an idea what might be an issue. The inspection won't turn up everything because you can't disassemble a car that isn't yours for the inspection to uncover everything. Every car has a price. If its never been driven consider the seals and rubber. It will probably need an alarm module and new ball joints. I would drive a car on belts that have never been changed and the car has sat personally. And I wouldn't do that on any car that has timing belts that have never been replaced and it sat. The 3 to 5 year rule is very conservative but anticipates track time and harder driving. I don't redline mine and putter in it for the most part so the belt change can be done longer. Etc. Etc.

I hope the car gives pleasant surprises in not needing alot of maintenance and fun on the open road.

 

You might want to consider giving the 458 another chance. I previously owned both a 355 and 360 (each with manual gearbox). Like you, when I first bought my 458, I didn't really like it all that much at first. It was only after getting the seat adjusted perfectly and driving the car for a month or so, that it really started to shine. Once I became comfortable with the 458 and started to really understand the F1 system, wow. Just wow. I came to love that car so much more than my previous two cars. I've also owned the 488 GTB, which I couldn't stand. But the 458 Italia is truly the high-water mark for Ferrari V8's as far as I'm concerned.

If they improved the F1 operation on the 360 near the end of the production run, that might be something to consider. Getting a 360 from very late 2001 (or ideally 2002) is definitely sound overall advice. If I bought another 360, I think I'd look into installing a kevlar clutch disc myself. I run a kevlar disc on my pickup truck and it seems to wear nicely as compared to other compounds (although it does chatter a bit at lower RPM engagement).

Ray

 

So ive bought a low milage 360 this year myself (5,000 miles) mine came from a collection that was in a temp/humidity controlled environment, all the rubber is currently good.
All servicing up to date but belts due soon.

Mine was bought to drive so I have made a few mods:
F1 relay upgrade to 70amp
Challange grill
2003 F1 tcu
Tubi exhaust ( original one filled the bay with white dust)

On top of that I have done the plugs and coils as not changed since new. All in I spent £3,300 over the price of the car.

The result.... its amazing, the tcu upgrade is the biggest improvement, the rest is just maintenance

If you are willing to do a full service with belts/plugs/coils/complete fluid change and a few upgrades and preventative bits then you can't go wrong
Just don't expect nothing to be wrong as its a low miler

 

If you buy an F1 360 I highly recommend having the TCU reflashed to CS specifications . On my 2000 360 it was the most worthwhile upgrade of all others combined . Lighting fast shifts .
There is a service located in France , which will accomplish the reprogramming quickly.
Search the forum for his contact details.