Is it a bad time to buy a 360 (F1)?

Well the 355s went down to a certain point then went back up and are still going
When will the 360 do this? I tend to think the deprecation would be near the bottom right now

 

My own humble view as a 360 F1 owner is that you’re not going to see big gains but you’ve got a pretty good margin of safety on the downside in terms of being able to get into an NA V8 Ferrari for $85k. Just buy a good one.

 

Yes, bad time....wait until you see how 2022 shakes out.

 

does $15K matter to you? 360 F1s are likely to stay bid as people will want to convert them. if the world falls apart they go back down $15k, not $40k, as they havent appreciated much during the past couple years. they were 70 and now theyre 80.

 

Yeah of course. And then you gotta look at 2023. And after that might as well look at 2030s

YOLO and it’s not life changing $$ here.

In the long run, we’re all dead.

 

Most rational people agree this is a very unusual market at this time...why rush in under these circumstances?

And while you might have unlimited funds, most of us looking for sub-$100k cars don't, so $20-30k is a big deal

And YOLO shouldn't mean making poor financial decisions....people have too much debt and too little savings.

 

So how low do you think 360s are likely to go and what point would you suggest the OP purchases?

 

I think prices for cars like a 360 get reset to a Feb 2020 level plus maybe a 5% adder for inflation when this is all over. The OP can obviously purchase what and when he wants, he never actually states his budget, and maybe more importantly, how much his budget could grow on a month to month basis. I am assuming that by the cars he mentions, that he is not uber wealthy (same with me). I am wanting a new DD, but even regular cars are caught up in the crazyness so I'm on the sideline also waiting it out.

 

Cool. So how much is the Feb 2020 level +/- 5%?

 

One would have to go do the research. old ads or posts here could certainly be of assistance....also BAT past auctions. You might also find someone here who was charting cars for sale in that time period.

 

Except you were the one who suggested that time period. So it would appear incumbent on you to do the research, otherwise it would look like you are pulling numbers from the proverbial.

 

LOL....so I should do all the work that a prospective buyer should do just to give you a starting point? Lazy much? LOL

 

I bought a really nice 360 F1 with 21K miles on it in August 2017. I paid a fair price reflective of the market at the time. I have not seen 360 prices increase significantly in the past 4 years. If you want a 360 I would search the market and purchase the car you will be happy with with no regrets (options, color combo, etc). As a collector, you will be looking for the long term so the slight increase in the prices you may see now are not significant--- in the long run.

I do not think the prices you see now are going to drop. Stabilize for a while, maybe. But to buy an F1 360 now IMO is no mistake and waiting is probably not a good plan. My Uncle was a real estate broker and his mantra was: I never remember meeting someone who said; "I'm glad I waited".

The old adage a rising tide lifts all boats (or Ferraris) may apply in the next few years.

IMHO, I believe the 360 will become a rather sought after model (even the F1 models) despite it's higher production numbers. It is a nice blend of tech and the driving experience is still visceral without unnecessary tech interference. The body design is timeless and doesn't seem to be dated even 20 years later. Of course the low mileage nice examples , well maintained (as with most marques) will fetch the most but even well cared for cars that have been loved should also have a market above what you may pay now for an F1 360. Just my 2 cents.

 

1 year ago, I nearly purchased a 360 F1 with service records, no accidents, and 34k miles for $49k. Granted, the pandemic caused a crash in used car prices initially, but I would think that car was probably $60-65k in 2019.

That same car would now have an asking price of ~$80k+. This is not a normal market. I think waiting 12 months will see significantly lower prices for 360 F1s, in the high $60k-low $70k range likely. Even 3-4 months ago, this is where they were priced.

I'm seeing people listing F1 gearbox cars for nearly $100K with 25-30k miles. That makes no sense to me.

 

Bookmark this thread and let’s revisit in 12 months. I’ll bet you a Diet Coke 360 prices do not come down in 12 months.

 

Factors driving price up;

1) speculators pulling clean examples off the market
2) attrition due to newbs in mid engine car tricks ending up in copart lots
3) post dampendic excess funds and awareness of mortality
4) Segway of new cars into blah hybrid drives…
5) current supply chain disruption rising all boats

 

the cars are not going up, the dollar is going down.

 

https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=589926621&zip=30728&referrer=%2Fcars-for-sale%2Fsearchresults.xhtml%3Fzip%3D30728%26city%3DLa%2BFayette%26incremental%3Dall%26modelCodeList%3D360%26makeCodeList%3DFER%26sortBy%3DderivedpriceASC%26location%3D%255Bobject%2BObject%255D%26state%3DGA%26firstRecord%3D0%26marketExtension%3Dinclude%26relevanceConfig%3Ddefault%26searchRadius%3D0%26isNewSearch%3Dfalse&numRecords=25&firstRecord=0&modelCodeList=360&makeCodeList=FER&searchRadius=0&makeCode1=FER&modelCode1=360&clickType=listing

13k miles for under $70k, clean title...I was looking in 2016, from what I remember the F1 prices weren't a whole lot different than this. I was looking for a gated though...much different price point. Had the conversions been as available as they are now. I would have probably went for something like this. I don't see it as a bad time to buy at all as I don't see the Ferraris following necessarily the same trend as "normal" used cars.

But don't buy a Range Rover or a Mercedes right now...

 

I kind of think the year will matter. And while some folks are asking "too much" in my estimation as you too believe; the year model may come into play. 1999 being the first year 360 will probably not bring what a '03 or '04 will. Most folks are aware of the old adage "never buy the first year of a new model" And when talking about the F1 360s it's probably valid--- Especially when one considers the TCU upgrades. But of course there are many folks who don't do their homework and will buy on a whim. So that may not even be a factor for some when comparing pricing.

Personally, I think the 360s have been undervalued. Even selling prices at or near $95K for a very clean, well maintained, and cosmetically top notch F1 example don't seem out of the realm of reality to me. And to add, I think the stick cars while they have their following may even become less desirable (clutch pearls now ) as younger folks that become more affluent, who never drove a stick in their life, will not be so enamored with the romance of shifting a gated shifter. There will be collectors of course, but only of the cream of the crop of gated 360s.

 

the 99's have no pre-cats, so they make a little more power, and they wont throw a check engine light if you change the headers. But its 22 years old.