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Discussion in 'Ferrari Discussion (not model specific)' started by SAU KWENG TAN, Mar 6, 2018.
Great advice from an actual owner (of 2)
Well said, Jim.
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No way I am putting up lift and professional tools. 355 is out of the list. Even the dealership told me it's pain to maintain the F355
After my divorce I sold my house to buy a 328 That was over 20 years ago.
When I sold it I was seriously depressed and suffered sellers remorse for 13 years.
Thirteen years I suffered .......until the day I bought my 355.
If you already have a 488 and want less attention, you should probably get another make for a stick shift DD. My 360 gets lots and lots of attention.
Both cars have extensive dedicated sections here which include buyers guides - try reading and learning from them as they represent the past experiences of many folk
Okay I try to be the voice of reason when I post, and I am a fan of seeing peoples dreams come true. I have to ask OP what is your tolerance when it comes to repair bills? Yes there are great 355's and great 360's, but there are also not so great ones. The not so great 360's can easily have a 5-10K repair bill. What people tend to forget is that though you can buy a 360 for about the same cost as mid size luxury sedan, the cars repair bills are still based on a car that costs between 150-225K and people who buy cars in that price range may have a different tolerance to repair bills than you have. Your statement about putting an exhaust on a S2000 (if you were serious maybe your not quite prepared for what it can cost to maintain these cars) was revealing. I would spend sometime researching these cars, maybe drive an Alfa 4C, or an Evora 400 gearshift if you can, I own both as well as a 360, (and a few other cars), and though the 4C is not a gearshift car, it gives you the type of experience no car in its price range I have ever driven (and that is a lot of cars) or owned can. My current 360 came from a collection, and though it looked like it just came out of the factory, because it sat so long my dealer had to put 23K (at their cost) of parts and service into the car to get it road ready. I am not saying that this is something that happens often, but it has happened. Good luck.
Fwiw,, maintenance is rather similar between F355 and 360 (however as noted 355 is a bit more expensive).
If you are excluding the 355 from your list because you would need a lift and tools to maintain it yourself, the 360 should be excluded for the same reasons.
You'd probably have to add the Diagnostic Tool / Reader (for OBDII) to that tool shopping list as well (like the dealer uses). Yes, both models would require these latest diagnostic tools, etc. -- however, for ROUTINE scheduled maintenance (especially the belt / tensioner services), the 360 will be lighter on the wallet. Forza Magazine has published a few comprehensive buyer's guides over the years for both of these models which point out what to look out for based on the various years of production. Performance-wise, the 360 is newer and thus more HP, more interior room, improved F1 system, etc. And, for the record, I'm also a former F355 GTB owner. Still on the fence about purchasing a 360 / F430 though.
Oh...almost forgot...be sure to budget extra $$$ to replace that sticky interior too -- isn't that right Dave Rocks?
This may sound crazy, but I think you should drive them both and see which one makes you have to have it versus the other or maybe neither will work for you. Either is going to feel seriously slow in comparison to your 488 and will also feel older in many ways. As Jana and Annukki have stated both of these cars can run up costs very quickly, and are commencerurate with the cars original asking price, not what one would expect for a car in the $60-$90K range. Make sure you drive a great example of each, as there are many poorly maintained examples that could put you off the model due the the relative affordability of the purchase price over the last 10 years. The good news is that averaged over several years, the cost should be less than the depreciation on a new Ferrari. Buy the car you love and have tremendous passion for as it should not matter to anyone else, these cars make no sense other than pure enjoyment (I am currently on my 3rd engine out service in the 12 years I have owned my F355). Both are great cars, only you will know if you made the right choice.
Best advice I've read on here in a long time.
Who cares about engine out - it's a number only, it's not daunting; it costs less than brakes on some newer models but no one ever complains about that.
Yup. I think what I am worry is the maintenance and repair cost. Maintenance should be fine but repair can be bottomless if car keeps getting little issues here and there. But then, is the 360 that unreliable? In general, do they frequently break down? I don't expect Ferrari break down often even 20 years car!
That is the thing, no one here can really tell you that. They can tell you about their great car, or the car they heard about but you really need to keep this in mind. Cars were made differently 20 years ago (check JD power rating for as far as you can go back), some companies who were near the bottom 15 years ago are near the top now. Sorry but 20 year old cars (especially ones not well maintained or driven often enough), are going to have issues, which is why I (and others) have advised you to read things like the 360 buyers guide. There are those (I am among them, you are not), who say who cares what it costs, I enjoy it. Everyone has a different idea of what they consider risk. I have owned 465 cars, I loose money (especially when I spend 10k to modify them and keep them two months) on almost all of them but I could care less, it is what I enjoy. I have spent 7K making three custom steering wheels for one car, that I sold after less than 800 miles. Some would say that is crazy, to me it is normal. I have been here are long time and I agree 100% with the who cares what is costs I enjoy it line of thinking. I guess you should be asking yourself why a Ferrari, I will admit after the 4 I owned I never thought there would another, but with someone like me never is a word that no uses when it comes to cars. Take my advise go drive a gearshift Lotus Evora 400, talk about rare (I do not know the exact numbers I am guessing), they have probably sold 1 400 for every 10 360 that was sold. The cars in the picture are both mid engine cars, both faster than a stock 360 (mine 4C is modified the 400 will be soon), and both rarer than a 360. Best of all both can be bought new with a warranty for less than a 360 with a good history. I have helped many, many people buy cars over the years (I just helped my friend and neighbor buy his first Ferrari a FF with an original sticker of over 400k w a Ferrari cert warranty), and I think you might not quite be ready for what it can cost to own one of these cars. I mean no disrespect, but I say what I think (being the way I am I don't have any other way to function), and I think you might find more enjoyment from something you do not have to worry about what it might cost if something goes wrong. Best of luck.
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I can relate. I spent six years and over $40K to make my 456M mechanically and electronically perfect. Less than 200 miles after an engine out to replace the engine mounts, seals, head gaskets, and valve guides, I sold it. Why? Because it was perfect. Now I'm doing the same thing with a 308 and a 360. When the 308 is perfect, I'll sell it. The 360 may be a keeper, but it is going to be nightmarishly expensive to make it perfect. I don't care. This is what I love to do; rescue unloved Ferraris.
Makes zero logical sense.
It seems to me that if maintenance costs are a MAJOR factor for you than you may be looking at the wrong brand, I'm also surprised to see how concerned the owner of a 488 (300k+ car) is with the possibly of 5-7k in annual maintenance costs.
But the 488 is a whole different animal then a 355 or 360. Modern Ferraris "major" service consists of flushing and changing all fluids and a visual inspection of the brake system, cooling system, F1 system and engine mounts. Oh and it's all on Ferrari for the first 7 years. So new ferrari owners today have it way easier then the new Ferrari owner of yesterday.
While I don't own either car but having driven bot if I were to consider one it would be the 360. It was the first Ferrari after the 308 that grabbed my attention and kept me paying attention to the brand. So it already has a special place for me emotionally. Not much that Ferrari currently makes that doesnit for me with the exception of the GT cars but I think that's my age more then it is Ferrari. And while the 360!just does it for me the 2 F cars on my prospective purchase list are the F430 and the California 30 maybe a T.
Finally to the OP you really should drive both cars, they way they feel when driving is different. To me both cars have major reasons to love them but they are different. If money wasn't an issue ( you know inherit a huge trust fund, win lottery, some other thing that will never happen) I'd probably own both because really at heart I'm a car guy. It would be nice to be able to experience either car whenever I desired since they both are really great cars. I really am envious of carnut, he's living a car lovers dream. Glad he's around to offer informed information having owned so many cool cars. I looked into the Evora after reading his thoughts but alas I'm too fat and tall for one to enjoys getting in and out of it with any regularity and my wife would hate it.
I disagree, when your talking about "annual cost to own" which has to include depreciation, i'm sure the 488 is much more expensive to own than a 355 or 360.
I would either buy a 355 and put up with the repairs because it is a great looking and sounding car full of charm.....or skip to the 430 which was a massive improvement in the sport V8 series.
I've had 2 355s. The first one I bought had almost no service records and was cheap. I had some issues with it and spent a lot of money on it. I don't do ANY work myself.
On my second 355 I paid a little more upfront but got one with extensive service records. I've had this one for almost 2 years and have had no serious issues. The only real issue I've had is that the 10+ year old cats failed. That being said I've spent about $6k on it so far and am spending another $6k on it this week. I'm not complaining about it. I love spending money on the car to make it perfect and exactly as I want it. If you're not going to do work yourself and don't enjoy spending money on your cars you probably shouldn't by an older Ferrari.
I agree with this aside from one exception - it's not even remotely $5-7K a year for maintenance
That's correct. I would consider that to be the maximum average annual potential for maintenance and repairs assuming 100% dealer serviced. For me over 4 years its averaged out to about $500 per year
I would recommend not looking at older Ferrari if you have concerns about maintenance costs. NSX Gen1 might be a better bet if you want to get a relatively more reliable exotic.
I find the comparison of 355 or 360 strange, if an S2000 might do the job as well.
The S2000 has an amazing gearbox, I love it, but what I do know, is that when I bought my 360, I kicked myself for not having got it earlier. I could have bough a Ferrari earlier in my life, and I just didn't. The moment I did, I felt like a fool for not having done it before...
But your mileage may vary.
I've owned an S2000 and NSX - and I prefer the Ferrari gated stick shift over the stick shift in both of them. Not saying the Hondas are bad - on the contrary - remarkable machines. I just personally prefer the snickity clack of the rifle bolt-esque shifter than the smooth and buttery Japanese shifters. The OP should at the very least test drive them, he might not like the mechanical clank-snick vs. the pfst-bump of Japanese. I do notice that the OP seems *very* concerned about maintenance costs...this in itself may have answered if a Ferrari is right for him.
I love the squeaks you get with the gates.