First Ferrari - 355 or 360? | FerrariChat

First Ferrari - 355 or 360?

Discussion in '348/355' started by Skidkid, Apr 11, 2006.

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  1. Skidkid

    Skidkid F1 Veteran
    Owner Rossa Subscribed

    Aug 25, 2005
    9,519
    Campbell, CA
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    John Zornes
    This has been and continues to be hashed for the benefit of those that are considering the plunge. None the less, I will pose it again with a little different spin --

    I am considering a Ferrari but have several limitation:
    1) I am 6'6" tall so I don't fit in many of the older cars very well. Even
    a 355 is a tight fit.
    2) I am thin so seat width isn't an issue
    3) I can buy a 360 but the maintenance cost would become important.
    4) I would prefer to use the car as a daily driver. Why own it if you
    aren't going to enjoy it. I drive ~10k miles year.
    5) It has to be a convertible

    Some basic assumptions:
    The most likely candidates are the 355 and 360. I would consider a 430 but the street price is too rich for me right now. Prices for a 360 appears to be 160-170k while a 355 is 75-85k. The 360 is likely to depriciate more than a 355.

    From reading many posts I would suspect that maintenance allocation on a newer car will be about $1/mile. It isn't clear what the impact on high miles will be on resale price.

    OK, now for some thoughts on this info:
    A 360 is a beautiful car and would be a good choice. The problem is with a stretch for the purchase price the maintenance cost is critical. I suspect it is lower than a 355. Unfortnately, the group isn't very helpful in quantifying this subject. If the maintenance cost was very high this option may be too expensive.

    The 355 is an interesting option. The car will cost ~80k less than a 360. That 80k will cover a lot of maintenance. Plus, the car will likely depriciate less than the 360.

    My hypothesis is that the 355 will have a lower total cost over a 5 year span. If we use "cost + maintenance - future value = TCO"

    355 -- 80 + 60 - 50 = 90
    360 -- 170 + 50 - 100 = 120

    I guess maintenance at $1/mile * 10k miles/yr * 5 years. I round the 355 up to be a little more. I guessed at the future values. I suspect that the 355 will be at least that amount but the 360 could be a little less.

    I assume that oil changes, gas, and the like are incedental since I would have them with any car.

    I know this is long but any thoughts on this subject?

    How about how often I will have to take each to the shop (relative comparison)?

    Another option would be buy the 355 and either keep my M (free) or guy a used Porche (50-60k). That gives me a car with higher reliability in addition to the F-Car.

    Of course this whole issue is complicated by the fact that I fit in the 360 much better than a 355.

    Thanks everyone. I may ask for some help when I start looking at cars.
     
  2. LetsJet

    LetsJet F1 Veteran
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    May 24, 2004
    9,334
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    Mr.
    I think this is your biggest issue. I had a guy sit in my 355 spider and he looked terribly uncomfortable. He was 6'5" I think. I can't imagine what he would have looked like with a top on the car.

    Otherwise the 355 is a great car....
     
  3. 8 SNAKE

    8 SNAKE F1 Veteran

    Jan 5, 2006
    6,948
    Springfield, MO
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    Mike
    I don't know if it makes much difference to you, but I think that your "Future Values" are quite high in your estimations. I can't imagine selling a 355 in 5 years, with at least 55-70k miles on it (depending on how many are on the car when you buy it) for $50k. I'd think that the same would hold true for a 360 with similar miles. Again, I don't know how much of a factor this is in your gameplan but thought I'd offer the input in case it helps.
     
  4. Skidkid

    Skidkid F1 Veteran
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    Aug 25, 2005
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    Campbell, CA
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    John Zornes
    OK, I buy that argument. None of us have a crystal ball but how about an educated guess on the values?

    Factoring that into the calculation tips the scale farther into the 355's favor. I would guess the likely impact on the 360 is much larger than the 355. What do you think?
     
  5. rush109

    rush109 F1 Veteran

    May 26, 2005
    8,103
    Montreal, Quebec
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    Joshua McRae
    355, get the old feeling of ferrari, then move on to a 360 few years after, what id like to do myself...
     
  6. crmlcruiser

    crmlcruiser Karting

    Dec 28, 2005
    155
    Carmel ca
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    Michael
    logically you should buy a 355 (if you fit in it to your comfort) first while you save a bit...then move to the 360 after it comes down a bit...then of course the 430 will drop in price...by then 5??? but hell its a ferrari dude they arent cheap but ....you definitely get what you pay for!! id drive them both take your pulse after each ride whichever makes it higher buy that one!!! either way you wont regret it and once its spent its spent!!
     
  7. rpps

    rpps Formula 3

    Aug 20, 2005
    1,828
    Bergen County, NJ
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    Richard
    i feel your pain...i am 6'8-6'9 and the 355 is a bit awkward to say the least. go with the 360; more room.
     
  8. XLNLIFE

    XLNLIFE Formula Junior

    Oct 5, 2005
    810
    SOUTHERN CA
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    JEREMY :
    FIRST FERRARI......Forget the 355 & the 360. Go for gold and get the ENZO !! Problem Solved. Just test drive both of them and you will have your answer and whatever one you choose drive it hard and never look back.

    Cheers !!
     
  9. yellow 355

    yellow 355 Formula Junior

    Mar 25, 2005
    503
    ocean city,nj
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    Ben Murphy
    I have owned both cars forget the 355 for height and cost to drive....The 355 will cost much more to keep on the road..Service is huge money with these!!! When something breaks or wears out bend over!!!Do a engine out service plus a clutch 10k easy.....This idea of doing this car as a driver putting on 10k a year and keeping it that long you will get HAMMERED WITH BOTH CARS.....
     
  10. racerdj

    racerdj F1 Veteran
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    Jan 19, 2003
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    DJS
    After owning a 360 for 3.5 years, if you find one and it meets your financial desires, go for it.
     
  11. tstafford

    tstafford Formula Junior

    Mar 4, 2006
    754
    Nashville
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    Tim
    I too have owned both.

    Maybe I don't understand your TCO calcuation at all. How could you possibly pour $50K in maintenance into a 360? What are you including in this number? If you mean to say you will drive it 10K a year for 5 years at a $1 per mile - I would suggest the residual is less but the maintenance is far less. IMO. You're not including gas and tires in that are you!!
     
  12. Fengtau

    Fengtau Formula Junior

    Dec 25, 2004
    358
    Malaysia
    Skidkid,if I were you,I'll go for 360...search for 360/355 maintanance thread,make comparision(especially cambelt replacement job).I thinks it will help you...Good luck!
     
  13. Gary(SF)

    Gary(SF) F1 Rookie

    Oct 13, 2003
    3,637
    Los Altos Hills, CA
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    Gary B.
    As a general rule, when buying a used Ferrari, but the newest one you can afford. The 360 will accommodate your height much better than the 355, and it really is a better car in virtually every respect.

    Gary
     
  14. Skidkid

    Skidkid F1 Veteran
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    Aug 25, 2005
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    Tim, I sent a PM explaining my thoughts. Want to speculate on the future values with high milage? Also, I agree that the maintenance estimate on the 360 could easily be 2x too high.

    Gary, thanks for the feedback. May I PM you when I get a little farther in the search? Maybe you wouldn't mind lending a hand.

    Ben, I understand the the engine out service can be 10k. With engine out service at ~30k miles I would have 2 services over 5 years. That is only $20k and I allocated $60k as an estimate. Plus that is on top of tires and oil changes. Did I miss something?

    Another thought on getting killed. When I guy an f-car it will depriciate some. If I have another car as a daily driver it will depriciate too. It is unlikely that the depriciate and maintenance on two cars is more than one. Even with more miles. Yes/No ???


    You have owned these cars; how about a few specifics. There is a lot generalized feedback but a lack of hard information in the forum.
     
  15. tstafford

    tstafford Formula Junior

    Mar 4, 2006
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    Tim
    Will respond to your PM shortly.
     
  16. istanl

    istanl Formula Junior

    Apr 30, 2004
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    Melbourne, Australia
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    Ian
    If you want to drive it every day wouldn't a 550 make more sense?
     
  17. Gary(SF)

    Gary(SF) F1 Rookie

    Oct 13, 2003
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    Gary B.
    Of course, I'd be glad to share.

    Gary
     
  18. tstafford

    tstafford Formula Junior

    Mar 4, 2006
    754
    Nashville
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    Tim
    I agree. I also provided a lot of context in my PM.
     
  19. petrone01

    petrone01 Karting

    Oct 17, 2005
    100
    Concord, CA
    Full Name:
    Carmine
    I have a 355 and I am 6'3", and i get crammed up a bit after a long drive. F1 would make it a bit more comfortable especially if you have big feet like me and would hit the break pedal on accident once in a while. I have driven all three, but I still keep mine just because it's paid for and I know what was done to it (personally!) and not taken someone's word on what supposidly has been done to the car.

    The 360 has a few improvements over the 355, but lacks the classic look. I am sure there are a million threads about this subject. The 430 was a HUGE improvement over the 360, and 355 to 360 was minor comparitively speaking.

    I have shopped around and you can buy a 360 Modena for $110-$130, and hell I saw one with 60K miles on it for $75K on Craigslist.org. You will go through the pains of owning a Ferrari whether it is a 360 or 355. You can also put on exhaust, hyperflows, tubi, and intakes on the 355 for $10K and get 360 speed performance with the classic look. Also the 95's were a bit better HP rated because of the 2.7.

    Whatever you decide take opinions on these sites with a grain of salt because at the end of the day YOU will be the one with the car, that will hopefully be with you for a while.

    C
     
  20. DiMisa1977

    DiMisa1977 Formula Junior

    Apr 11, 2005
    983
    i'd say 360 over a 355, if you can afford the extra $
     
  21. crmlcruiser

    crmlcruiser Karting

    Dec 28, 2005
    155
    Carmel ca
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    Michael
    ITS A FERRARI.....LOGIC DOESNT COUNT!! If you think too much youll lose the whole point! spend too much.... enjoy it even more!!!!! hows this for logic.. forget the second daily driver...BUY ONE OF EACH...split the miles and have 2 every second day drivers!!!!
     
  22. 8 SNAKE

    8 SNAKE F1 Veteran

    Jan 5, 2006
    6,948
    Springfield, MO
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    Mike
    I'd say it all depends on what your second car is. Cars have vastly different maintenance and depreciation costs, so it's impossible to draw any conclusions without knowing what car you're considering as a daily driver. Did you have something particular in mind?
     
  23. Skidkid

    Skidkid F1 Veteran
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    Aug 25, 2005
    9,519
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    John Zornes
    I meant to say 2 was more expensive than 1 but somehow that didn't get typed. My current daily driver is an M-Roadster. It is fun to drive and pretty reliable but I want for more punch and a lot more unique.

    I was considering a Porche but there are sooo many of them here. That is what happens when they make the same car for 25 years.

    Can't really bring myself to another BMW right now. Yes the M3 is amazing but kind of boring too.

    Maybe I should just keep the roadster, get the F-car, and call it good for now.
     
  24. riverflyer

    riverflyer F1 Rookie

    Nov 26, 2003
    3,583
    Mendocino, Ca
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    John
    John,
    I have also owned both and even at 6'3", headroom was one of the deciding factors in my switch. Here is a post I put up about the two cars, hope it helps. I also think the maintainance will be less for the 360 not more. Maybe Brian, rifledriver will chime in if you are lucky, as he can certainly tell you the real skinny on main. costs for either model.
    http://ferrarichat.com/forum/showthread.php?t=55200
    good luck, both great cars, but in the end, not only do i feel more comfortable in the 360, I enjoy the drive more.
     
  25. Financialman

    Financialman Formula 3

    Sep 8, 2005
    1,841
    San Jose CA
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    Dan Carpenter
    I have had both, I loved them both, but I think I would go with a 360 if you are on the taller side. Let me know if you would like a ride in my 360 coupe, we are very close to each other. Dan
     

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