High mileage 360 spider? Would you touch it?

Going to look at a 2003 high, and I mean HIGH mileage 360 spider this weekend. 70k miles to be exact. Would you guys be afraid of a car like this? I called the last dealer that serviced it and they said they did recommend a transmission rebuild which would run around 12k.

The owner says the car drives perfect and once I drive it I'll be a believer. What do you guys think? I'm always a fan of "if the price is right" and right now he's high, but I think there's the possibility to get this car for around 60k, maybe even less.

The car is red exterior, Bordeaux interior, black room. true 6 speed with 3 pedals (a must for me)

What do you guys think? The dealer said they can do a PPI for $250 but the car was recently in there and he said he remembered it being in good shape.

 

No one is going to do a PPI worth anything for $250. Can't be done, waste of money and will only serve to give you a false sense of security.


I have a couple that I service with that many or more miles. How many do you plan on putting on it?


The trans is a big if. Find out about that. You can get a used one from a low mile car for half of what they want for a rebuild.
It will not go that many more miles without spending serious money. If you only plan on putting 20k or 25 k miles it may be ok but it will be a hard sell when the time comes.

 

I would have 'another' dealer have a look at it and get their opinion without disclosing what the first dealer said about the transmission. That will shed light on the truth of a rebuild.

 

what generally happens as the odometer goes up? anything specific to keep eyes on?

I drive my fcar a lot and my mechanic loves me for it

 

Sorry didn't mean to hijack the thread.

Good advice by djastral69

 

Punt

Too many maybes involved. If the current owner does the new tranny and a VERY good PPI is done, then maybe.

Just spend 20k more for a car with 50k less miles.

 

Sure, why not take a look if everything else except the miles is attractive to you.

This thing will need to come with a long list of documented service that you should confirmed prior to spending any money on a PPI, however.

I'd say this thing should be in the low $60s for such high miles.

 

If you are looking for a car to drive and put a ton of miles on..... go for it! But if you want to drive it and then not be stuck with it......you gotta buy it super cheap. I'm thinking right around $50k. I love to drive my cars so miles don't scare me. But this is a Ferrari and anything with more than 20,000 miles becomes a tiny market place. It's kind of a shame since cars are built to be driven; just not so much in this community

 

I have nearly 60k miles and it runs very strong .as for price $50k ...compare spyders with 40,000 miles .

then do the math this will tell you is it worth it. I'm also a fan of "if the price is right "

 

My personal opinion is that since there are so many "no stories" cars out there to chose from, I'd find one AND pay for a great inspection to verify it.

If you really like the car, I do agree with a second opinion though. You may find a diamond in the rough and get a great deal.

But, make sure they look beyond the gearbox. Everyone always worries about the drivetrain, the body, and accidents. At 70K miles, the suspension may also be worn --and that ain't cheap either.

Good luck in the search!

 

Yeah, just did a cars.com search and $50K is about right, as 40K mi examples are in the mid $60s.

 

THanks guys. I'm also a big fan of the "if the price is right" motto. If he'd do 50k I would scoop it up. I do plan to drive the thing, but not a ton, maybe 4-5kmiles/year.

In the end I don't want the car to be worthless either. and yes I have to imagine the 100k+ mile 360 club has a hard time reselling unless it's dirt cheap.

Never thought about getting a tranny off an older car, that's a great idea. I'll see what the guy says right now I don't think I'll touch the car unless he'll take 50k for it.

 

The price discount doesn't seem worth it. Sooner or later, something major will go wrong. By then, will you be okay spending $15-20k to get it back on the road? If so, what's the point? Might as well spend $70k and get a 20k mi car in the first place so you can avoid the hassle.

There are just tons of F360 around. Buying the cheapest is so tempting but you will net little saving in the long run. F360 isn't exactly a reliable car.

 

I beg to differ, the 360 is a very reliable car . I do not know what makes you think it is not . It's more reliable then pass models

 

agreed

I sold my immaculate 03 spider with 56k on the clock. It was immaculately kept both mechanically and cosmetically. I know the guy I sold it to drove it and took excellent care of it........he just recently sold it to a guy in TX whom I understand is equally happy about the car.

The 360 is a pretty bullet proof F-car.......well cared for mileage should not be a distraction.

 

I would look at this car. Pretty good deal IMO with a proper check out.

http://www.dupontregistry.com/autos/Search/DRauSearchDetails.aspx?itemid=869496

 

At 100K miles, you would have an essentially saleproof car, in part because there are thousands of 10K-20K mile 360s sitting around.

I wouldn't buy it for $50K.

 

I guess mi son will inherit the 360


If you dont plan to sell...buy

if you plan to drive it a lot ... buy

if you can buy it cheap enough ... buy

 

i personally see more issues from cars that haven't been driven, at least with that many miles you know it has been a good car for someone!!!

 

I know this is going to go over like a wet fart in church, but....I'd buy a low mileage salvage 360 in the low $50k range before I'd buy a 70k mile car.

 

I don't plan to ever sell. I want a ferrari collection when I'm older. =)

but seriously it's comforting to know if I am ever in a jam i could sell the car and not take too great a loss. I dunno. I'll go see and and see how it feels. I'm not emotionally attached to anything if he won't adjust the price based on what i know I'll just walk away.

 

On ferrariads there is a tranny listed @ $5500

 

Wow I can't believe you guys are willing to even spend in the 50's for a car like this!

I have my 360 Spider in absolutely mint condition on the market for $80k with 7400 miles and. When you figure the cost per mile difference (Lets say $20,000 for 60,000 less miles) that is 33cents per mile!

Insane...I wouldn't consider such a high mile car when there are plenty of other good deals out there. You need to consider resale in your purchase, not just the initial price

 

Your price is right. I sold my 02 spider for 75k. You are just going to have to find the right buyer. For me I knew the first person to look at it would buy the car. Unfortunately I live in the sticks so it took a while to find a local buyer but he did come and he did buy.

For some people it's about getting the car really cheap and they really don't care about condition they just want it cheap. Usually they just want to use the car and sell it for around what they paid as they are hoping to get the car under market and then sell it at market. In the past they have had pretty good luck doing the same with other cars. This is their first Ferrari and they think they can do the same with a Ferrari. Then when they go to sell they meet themselves for the first time and sell the car under market.

 

You're right. for 50k even I might consider it, but for anything more than that I'm not going to waste my time. Even if the tranny didn't need a rebuild I can't see paying more than 55k tops if the car is really mint. Value is Value.