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

Discussion in '360/430' started by Vol34, Jul 10, 2021.

  1. Husker

    Husker F1 Veteran
    Silver Subscribed

    Dec 31, 2003
    9,498
    western hemisphere
    so you’re back to mid to high 80s for a coupe.
     
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  3. BrettC

    BrettC Formula 3

    Aug 13, 2012
    1,420
    Calif
    Full Name:
    Brett
    My 2004 spider has hit me with a couple 10K's....but the fun of people asking questions and keeping up, beating, newer cars is worth it. This car is seriously fast and beautiful....buy one and suck it up....worth it!
     
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  4. WillskiGT

    WillskiGT Karting
    Silver Subscribed

    Aug 12, 2017
    116
    Southeast
    Guess you were looking in the wrong place? There were many cars listed at $50-54k last May/June and several under $50k on eBay, Autotrader, Cargurus, etc.
     
  5. DiabloTerr

    DiabloTerr Formula Junior
    Rossa Subscribed

    Aug 3, 2010
    372
    Michigan
    Full Name:
    Terrance Findley
    I have over 11,000 miles on my 360 since I purchased it last year. Am I getting maintenance bills yes, I don’t care how much it cost to keep it on the road, all I know is I’m having so much fun it’s ridiculous. The only problem I have is with the straight pipes set up it sounds so good, it’s impossible for me to go to a twin turbo car. I drove a McLaren the other day and it was fast but the exhaust sound almost put me to sleep. It’s time to work my butt off for the next 12 to 24 months and then park a straight pipe Murcielago right next to this 360 .

    Don’t let anyone scare you away from getting a 360, Parts are abundant, and there are plenty of people that know how to work on them. The more you drive them the better they drive.

    Just get the car and be done with it, who cares about saving 10 to 15k....It’s literally water under the bridge when it comes to your happiness.


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  6. 550nitis

    550nitis Formula Junior
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    Feb 3, 2016
    479
    Los Angeles, CA
    Buy the car and have a blast with it. You won't regret it.

     
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  8. G-Ride Garage

    G-Ride Garage Rookie

    Jul 11, 2021
    5
    Bay Area
    Full Name:
    Nathan
    I'm in the same boat. I want a 360 and I've found a few from $69k-$85k (my budget) but they need service work or they have cosmetic issues.

    Are those fair prices or should I wait whatever this is out and hope the prices go down?
     
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  9. RedNeck

    RedNeck F1 Veteran
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    Jul 8, 2016
    6,490
    The CSA
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    Me
    They may get a few bucks cheaper in the off-season, but barring any kind of economic meltdown, I wouldn't expect to see any 360 depreciate significantly from where they are now.
     
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  10. 550nitis

    550nitis Formula Junior
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    Feb 3, 2016
    479
    Los Angeles, CA
    Depends what type of service work or cosmetic issues. I like having a car well sorted mechanically.

     
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  11. Shark01

    Shark01 F1 Rookie

    Jun 25, 2005
    4,459
    Be true to your screen name and buy the better car, a Diablo.

    And it is easier to find a gated shift Diablo, because all of them are.....e-gear is really horrible.
     
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  13. one4torque

    one4torque F1 Rookie
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    May 20, 2018
    2,650
    Houston
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    One4torque
    If you are diy capable then I’d be inclined to buy the lower priced car with deferred maintenance.

    it’s amazing how you can rack up retail repairs equal to 20-50% of the purchase price on this marque. And after all of this still be subjected to continued high retail service and main costs.
     
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  14. DiabloTerr

    DiabloTerr Formula Junior
    Rossa Subscribed

    Aug 3, 2010
    372
    Michigan
    Full Name:
    Terrance Findley
    I made my screen name before I actually drove any of these cars, the Diablo was a pretty big disappointment for me. It wasn’t nearly as eventful to drive as a Countach Iand was not That great of a drivers car compared to a lotus Esprit or Ferrari 360. I put a lot of miles on my cars so the Murcielago works better for me, Combined with the fact that with the right exhaust, the 6.2 engine has such a vicious exhaust characteristic.

    I actually don’t mind the E gear, as long as you get the Clutch PIS set correctly And you modify the TCU, it shifts just fine to me. A 360 and Murcielago Are my dream cars I have no desire to get any other toy cars but those two


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  15. shashi27

    shashi27 Formula Junior

    Jan 7, 2006
    962
    Long Valley, NJ
    Full Name:
    Shashi
    It depends how bad you want the car really. I’m in the market for a 360 as well but I am unloading my cars at this point. It is not the time to buy.
     
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  16. spider348

    spider348 Formula 3
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    Nov 3, 2003
    1,236
    MA
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    John
    I was toying with the idea of selling my 360 driver and moving to a 12. Problem is the 12 market has taken off as well!
    Not the time to make the change.
     
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  17. G-Ride Garage

    G-Ride Garage Rookie

    Jul 11, 2021
    5
    Bay Area
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    Nathan
    Are F1 360s worth $90k+? I've seen a few around that price in the spec I want but I feel like they are over priced and approaching gated prices. Thoughts?
     
  18. ttforcefed

    ttforcefed F1 World Champ
    Rossa Subscribed

    Aug 22, 2002
    16,498
    No not relative to where everything else is. One of the few sub $100k ferraris left, and prob not for long. Pretty crazy you can by 360 beauty for $90k
     
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  19. the_dan

    the_dan Karting
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    Nov 6, 2016
    77
    Hong Kong
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    Dan M
    If you want a Ferrari, then the 360 to me is the current relative sweetspot for price, performance and usability.

    A rising tide (inflation) lifts all boats so I'm not sure it's logical to say F1 cars are approaching gated prices because that would imply the delta between F1 and manual cars is narrowing.

    As an F1 owner I'd love that to be the case, but I don't see any evidence it's happening.

    There are plenty of sources to figure out a ballpark current market price for a decent 360.

    If that's US$[x] then you just need to consider whether you're happy to part with US$[x] to buy the 360 you want or whether you'd rather spend that US$[x] on another car / boat / investment / whatever.

    If your budget is US$80-90k and you are exclusively Ferrari shopping then the choice is pretty clear.

    If you are simply sportscar shopping then the world's your oyster and maybe you'd prefer an M-car, an AMG, a Corvette, a Porsche... all fine vehicles.

    I knew when I was buying my 360 that there were plenty of other cars that are objectively faster, more reliable and modern.

    I also knew that the 360 was what I really wanted and even if I got something like a much newer Porsche it would still just be a placeholder before realising my real ambition which was a set of keys to my own Ferrari.

    I wouldn't focus on the fact that a few guys may have bought cars for sub $60k 18 months ago. My guess is there was a very limited window when those prices existed (which can't have been more than a couple months and if I had to guess, March / April 2020 when corona hit and the sky was falling in).
     
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  20. DBomb117

    DBomb117 Karting

    Jun 20, 2019
    59
    Connecticut
    Full Name:
    Dimitriy Kosovay
    360s have stayed somewhat flat relative to the rest of the market which is why I jumped at one. Was also looking at F430s but those have taken off in the last 12-18 months. A car that was $85-90k 2 years ago is now $125k+. Probably a matter of time before the 360 starts catching up to it’s F355 predecessors and F430 successors


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  21. Vol34

    Vol34 Rookie
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    Jul 6, 2021
    46
    Based on my research and daily search of all the sites looking at 360 prices, I think $90k is high for an F1 car that is not super low miles with all the right preventative maintenance done to a car that has been sitting. I have seen good cars sit for months because someone is trying to cash in during this crazy time. When they were finally reduced to low eighties or high seventies, they sold. I've seen cars listed at reputable dealers sit for months then get wholesaled to another dealer in the 70's only to be relisted in the 90's. They are already dropping the price on it. I had a ppi done on one. It needed 10k plus in service etc. Now it's at another dealer with no service done yet in the mid 90's. If you watch the market and the auctions you'll see what they actually move at.
     
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  22. TuttoBene

    TuttoBene Rookie

    Sep 6, 2020
    34
    Full Name:
    Doug
    I bought one of the cheapest 360s ever listed on BaT. It's a '99 and was a due for major service, but came with great service records from 2013-2019. Before that I have some carfax entries but that's about it. If my car is any indication, people will probably have done quite a bit of fixes over the years, including upgraded the TCUs, fixed variators, replaced suspension bits, redid the leather, fixed the steering rack, sticky buttons, various sensors, and so on

    The cam belts were on year 5, so I took care of the major service, including seals and gaskets. I think that people over-discounted the car because of the major service. So far I haven't run into anything that I haven't bee able to handle on my own. My biggest unplanned surprise was the transmission mount, which took me 12 hours to do because it's a pain to access. I also had an F1 light scare, but with help of the fine people on FerrariChat and an x431 scanner, I was able to replace a faulty sensor and get it right back on the road. And in the process I learned how to disassemble the airbox which I needed to do in order to get to the big transmission mount. As far as I can tell, I don't have any ticking time bombs with the car (ok, maybe the out-of-production ECU situation).

    I love this car and I drive it hard and I've even tracked it. I don't know if prices are going to go up or down on the car and honestly I quit caring outside of calling my insurance guy. I really wish I had bough the car sooner because it's so entertaining to drive. So I say that it's always a good time to buy a 360. The auction market is liquid enough to where you'll probably get a fair price.

    My biggest complaint with the car is the amount of attention it gets. This isn't a car that you can take to make a run to the store in. It gets too much attention and isn't really enjoyable in city driving compared to blasting through country roads. Doug Demuro got it right when he said that this isn't a point A to point B car - it's a point A to point A car. You drive it for the sake of driving it.
     
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  23. Vol34

    Vol34 Rookie
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    Jul 6, 2021
    46
    I love to hear that. How many miles did the car have when you bought it and how many have you put on it? Have you noticed anything about the 99 that has caused pain being the first year of production or have those already been sorted? Variators was a recall so mounts and maybe a tcu upgrade?
     
  24. TuttoBene

    TuttoBene Rookie

    Sep 6, 2020
    34
    Full Name:
    Doug
    I bought it with ~29,000 miles and have put about 1,000 miles on it in a year of ownership. With regard to annoyances specific to the '99, I think that had the TCU not been upgraded that the F1 might be annoying. Otherwise I noticed some small things to watch out for when you're doing certain service like knowing if your tensioner is the upgraded version or not. But as far as I can tell, the changes that Ferrari did in later models can be done in the '99 with just buying an updated component. Ferrari upgraded bolts on some components (I think the tensioner mount and fuel rail) so when I spot one in bad condition or if the bolt strips or breaks, I find that the replacements are stronger. The legit mechanics can chime in here, but that's the kind of thing that I've seen so far. Otherwise it seems like I benefit from not having pre-cats.

    I'm finding that a benefit of going DIY is that I can be OCD about replacing and cleaning anything that does't look to be in tip-top shape. And on occasion I'll improve minor stuff with a part that's not stock. I burned my coolant overflow hose on a hot engine, so I replaced it with a high-temp silicone hose of the same size. I also replaced a small coolant hose elbow that nobody will ever see with a sweet-looking red one that was made of silicone. And I got better aftermarket hose clamps. I had to disconnect the hose while doing the major service so I figured, why not. Overall I think that the car looks to be in great overall shape for being over 20 years old. And each time I put it on the lift it ends up with even newer bits. Today's extra-credit improvement was under-tray washers that someone had replaced with the wrong size.
     
  25. Vol34

    Vol34 Rookie
    Silver Subscribed

    Jul 6, 2021
    46
    Did you upgrade the tcu to CS or the 2003 update? I think I've seen a guy Eric355 on these forums or something who can flash the ecu?

    I have sold two vehicles and am now ready to pull the trigger on the right one. I'm actually looking at two that have 40k miles but maintenance is up to date. I actually like they've been driven and not sitting. So if anyone has or knows of a 360 Berlinetta that is not red or yellow, if be interested. No spiders though.
     
  26. BrettC

    BrettC Formula 3

    Aug 13, 2012
    1,420
    Calif
    Full Name:
    Brett
    Bought my 2004 gated spider in Oct 2013. 19K miles and paid 83k. Have added 25K miles and won't ever be selling this car. I think the 360's have fully deprieciated and bounced back already. Buy what your heart desires and drive it.
     
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  27. TuttoBene

    TuttoBene Rookie

    Sep 6, 2020
    34
    Full Name:
    Doug
    Correction, I've put about 3,000 miles on it, not 1,000. I forgot about a couple of road trips.
     
  28. TuttoBene

    TuttoBene Rookie

    Sep 6, 2020
    34
    Full Name:
    Doug
    A previous owner did the TCU upgrade. I have the old one, but didn't check the model of the new one. I'll do that next time I have it open. I don't think it's the CS TCU.
     

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