Can a 360 sell for only $40K?

Sounds pretty fishy to me. It would have to be exposed to some extreme level of distress, or the seller had a gun to his head to sell it.

Crazier things have probably happened, but I'm not buying this one.

 

Never seen one that cheap that didn't have a salvage title or needed some type of work. Even with very high miles I see them 50K to 60K. No reason to sell that cheap unless something is wrong with the car. Maybe a divorce and he getting back at the wife selling cheap. LOL

 

Maybe a car that needs $10k+ of maintenance. Just replacing clutch, brakes, timing belts can easily exceed that. Maybe a 360 could go for $40k if it is a private party sale of a high mileage car that needs to be sorted out, and both agree to discount for the cost of all the known work that needs to be done. Agree that any properly titled and well running 360 would never need to sell that low.

 

Agree with the "fishy" mentioned above.

There's always more to the story.

 

1) It could be done.
2) He probably bought it in the depths of the recession
3) It needed work (alot), possibly prior history
4) Two words: Euro car + High miles.
5) Divorce

 

Plausible? Yes
Likely? No. Lottery type luck.

But hey there is a 599 for sale for $119k mainly because of high milage at a respected dealer.

 

Where is this mythical 599 you speak of?

 

Anything is possible. I hear people win the Powerball Lotto... never seen it myself.

6) Green with all green interior. Nothing says depreciation like a mint green steering wheel...

 

I mean there was just a hurricane on the east coast, this car may have been outside then

 

Oh I like that!

"The well cared for interior has been meticulously cared for with a conditioning lotion that happens to make the soft italian leather that smells just a tad musty... it's a cherry car!"

 

http://fusionluxurymotors.com/inventory/

Its still for sale...

I actually "seriously" considered it because I want a DD GT and will likely never sell it (garage space allowing). 59k miles does not scare me at all. I hope I can put that on my F430! My porsche just rolled 101k.

PM me if you look at it, or find something eschew.

 

Thats only the second 599 I have ever seen with steel brakes. The other was owned by a local owner.

I think the silver 07 they have is a much better deal for $153,888. If they do retain value at ~60k miles, you can DD the silver one for 55k more miles and then sell it for not much less than you paid.

Those guys have some really nice cars for sale.

 

Be lucky to get $40K for this one..
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C'mon man, how is this any different than running it through an automatic car wash???

 

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Found this one for half the price. Even states "THIS CAR COMES WITH A REAL FERRARI TITLE AND VIN NUMBER!!!! Worth $5000 alone"

http://easternshore.craigslist.org/cto/3488798351.html

 

Yes. I'm aware of two locally.

 

I picked up a 2005 360 Modena Spider F1 with a salvage title for approx $40k less than some of the 'buy it now' prices on eBay for similar cars.

I had Eric from Auto Gallery look it over (mini PPI) and basically said it I am looking for a daily driver (I am), it is a good car. All repair work was done correctly. He told me I would need to do a clutch, motor mounts, etc but said even with that factored in, it was a solid deal.

I drove the car for a few days and it was great, but with the popping into neutral and a few squaks, it seemed prudent to get into the shop and get everything done. Eric is now doing the clutch, replacing a leaking F1 hydraulic line, brake rotors and pads, doing a full service, etc. Should be done in a few days. Can't want to drive it knowing it's serviced, safe and problem free for a while.

This may not be for everyone, but I wouldn't want to drive a 'perfect' car every day (or at least several days a week) to work.

Also making it possible were some great parts deals from Ryan Jones
Exotic Auto Recycling www.exoticautorecycling.com 916-638-8000
He saved me TONS of money on a replacement F1 hydraulic hose. Thank you, Ryan!

 

Trent, its definitely not 'lottery luck' -- $40k or at the very least $4x,xxx cars are possible for the reasons such as those that Curt (VRSurgeon) cited. As he said, if the car needs mechanical work, has a bad carfax, high miles, or any combination of these (and those are just a few reasons), you get dinged big time.

I'll even supply a data point: I sold my '00 with 38k miles, a bad carfax, an aftermarket exhaust system (which really hurt me), and a NEW(ish) clutch, for $52k. I'm sure without the clutch I'd have been in the 40s.

 

Sounds like a money laundering scam to me....

 

That's awesome... although similar to those stories: "I was walking down this quiet yet scenic promenade in old Amsterdam, minding my own business while sipping this wonderful Reisling of direct Alsation lineage.. then this scantily clad women approached me to buy a Rolex for $20. It was real."

BTW why on earth would anybody buy a Toyota titled as a Ferrari? Higher insurance, higher registration costs? I'd LOVE to title my 360 as a 1975 corvette or Nissan 240 and save a bundle on fees. The cops might question things if I got pulled over though..

 

This stuff does happen sometimes though, in fairness, THIS happening is probably more along the lines of lottery-luck. I did have a very similar experience recently though. I bought a 2001 E320 with only 56k on it last year from a guy in his 60s who was selling it for his father (who was in his 90s) who just didn't want or need the car anymore (as evidenced by the low mileage). He was the original owner and spec'd the car and it was in great shape with no history when i bought it. I got it in the $9s because they just wanted to be rid of it, plus they seemed well off so I think what they got for it was almost irrelevant to them. It does happen.

 

Yes.

I sold mine for less than $50K. It was an Argento/black w contrasting stitching '99 F1. 38K mi, no accidents and very good shape. Much, much money spent. Just not the best.

I saw it shortly therafter on Ebay and learned that apparently I'm a retired lawyer.