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Looking at a 360 6spd Spider with "stories" Need your thoughts.

Discussion in '360/430' started by ketel, Apr 14, 2021.

  1. ketel

    ketel Formula 3
    Silver Subscribed

    Aug 6, 2007
    1,282
    Sausalito, CA
    Hey gang,

    Longtime Fchatter here and (until last week) 9-year F355 Spider owner and regular in the 345/355 forum. I've been eyeing getting into a 6spd 360 Spider to replace my 355. Came across one that looks good but upon close inspection has some "stories." I'm not afraid of a few cosmetic things here or there but struggling with whether this 360 would be a good deal and a nice driver for me or a money pit and a headache. The specs:

    - 2003
    - 22k miles
    - Factory Shields
    - Tubi exhaust
    - Daytona seats
    - Challenge Grill
    - Grigio Titanio/Black
    - Title Clean (not Salvage, etc)

    Good so far, right? Now the iffy stuff:

    - Little to no service history
    - Accident 10 years ago to the RR listed on Carfax
    - Needs cam belt service ASAP (last was 7 years ago)
    - Needs tires ASAP (tires are 8 years and 16 years old)
    - Front dash badly pulling and loose (probably needs full reupholstery)
    - Some body panel rash/scuff (probably needs respray on rocker)
    - Some scuff to seats and interior
    - Sticky interior switches/ashtray peeling
    - Top not operating smoothly or fitting flush
    - Battery dies after 2 days, so either needs new battery or has parasitic draw

    My guess is that the vehicle needs $10k immediately to make it right, perhaps $15k. Sound right to you? And I would still have the albatross around my neck of the bad Carfax when and if I ever sold it.

    Obviously, I wouldn't dream of buying this without a thorough PPI done by an experienced shop. That will happen if I move forward. As to price, I think it's buyable around $85k.

    Any thoughts on this one? Run for the hills, or is it worth my investigating further?

    ketel
     
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  3. ScudMarks

    ScudMarks Formula Junior
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    Jan 22, 2018
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    Matthew Mauer
    I wouldn’t run for the hills, but $10-15k is not realistic. Think $20-25k to get it right and buy the thing accordingly! The accident won’t matter much down the road.
     
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  4. EastMemphis

    EastMemphis Formula Junior
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    May 25, 2019
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    Memphis, TN
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    John
    A really nice looking, clean Carfax, gated, 360 Spider just sold for a bit over $100k in BAT. So on the optimistic side, $85k to buy and another $15k to fix. That leaves you in a risky position if the repairs are more than what you expect. Then there's the time and hassle factor. How many months will the car be sidelined while those repairs are being done? How many times are you going to have to bring it back when things are STILL not right? And it always will have the accident on the record.

    I suggest looking for a really clean and sorted model.
     
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  5. mello

    mello F1 Rookie
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    Jul 12, 2013
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    - Top not operating smoothly or fitting flush
    I think this is seriously worth looking into. Sounds like the capote is knocked out of alignment in reference to the frame due to the accident on the RR.
     
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  6. ketel

    ketel Formula 3
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    Aug 6, 2007
    1,282
    Sausalito, CA
    Forgive me but what is a "capote"?
     
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  8. SCKOMS

    SCKOMS F1 Rookie
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    Oct 21, 2011
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    Spiro
    Of all the mechanical issues listed the top would conern me most


    Sent from my iPhone using FerrariChat
     
  9. mello

    mello F1 Rookie
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    Jul 12, 2013
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    Steve
    convertible top.
    FYI. It cost as much as $35K to replace the whole convertible top assembly from the dealer.
     
  10. S F

    S F Karting

    May 13, 2016
    110
    Texas
    As long as you buy them right, cars with stories are some of the best ones out there, at least in my opinion.
     
  11. rizzo308

    rizzo308 Formula 3
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    Sep 12, 2004
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    riggio
    I would exit stage left on that car mate. Gud luk
     
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  13. AandSC

    AandSC Karting
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    Dec 12, 2016
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    Allen
    I wouldn’t give more than $70K, and that is based on my ability to do all the work to bring it up to speed. Are you planning to DIY or will you be paying someone to do the work?

    If you take the PPI results and figure out all the costs to fix discrepancies, and then add in a little more for the unknowns, that will give you a good baseline.
     
  14. cladd2000

    cladd2000 Formula Junior
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    Jan 18, 2005
    463
    Sorry to hijack the thread. But how are 360 6speed manual values these days.?I see 355’s have gone up (of course, I sold mine for auction value two years ago). 360 manual is an amazing car not sure why values are stuck. Especially for the manuals.


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  15. cladd2000

    cladd2000 Formula Junior
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    Jan 18, 2005
    463
  16. ketel

    ketel Formula 3
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    Aug 6, 2007
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    I think that's where I'm coming out too. I want to be in the car no more than $70k. Otherwise the math doesn't work. From what I'm learning, this 360 will need $25k pretty fast to make everything right - and that's assuming I don't discover anything new during the PPI.
     
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  17. ketel

    ketel Formula 3
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  18. Scottslaw

    Scottslaw Karting
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    This is my mantra! If the price is appropriate, you can sort stuff out with the savings, document the crap out of everything, get a service history started, and then enjoy. But you must buy it right, and you must know what you are getting into (i.e., understand the quality of the repair work and the true extent of the top issue) And, if you plan to hold for more than 5 years, no one is going to care about an accident decades ago (if, however, there has been 10 short-term owners since the accident, that would send red flags that would be problematic for resale). I'm very selective with the cars I buy and almost all have stories, but the cars I buy have stories that can be cured by the combination of a conscientious, meticulous maintenance, and long(ish)-term ownership. I had a 996 turbo that got rear ended and much of the car had to be resprayed. If I would have tried to sell that car right away I would have taken it in the shorts. But I got it fixed and enjoyed it for another 5 years and 35,000 miles. Needless to say, no one who came to look at the car when I finally listed it was the least bit concerned that there was some hidden damage that I had been sitting on for five years in hopes of duping some unsuspecting buyer from the future. Finally, I'd much rather pay an appropriate price for a car that needs some work that I know about, than pay market and then have a huge repair bill anyway!
     
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  19. Stev-o

    Stev-o Karting

    Sep 18, 2020
    86
    Central Texas
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    Stev-o de Italiano!
    We bought a 360 last year, I would have walked away from that one. Keep looking....
     
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  20. KC360 FL

    KC360 FL Formula 3
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    Jun 20, 2017
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    KGC
    I've owned a lot of cars. Most times is simply doesn't make sense to buy a "stories" anything. Cost of parts are going up daily. The cost to repair is too. What has seemed like a decent deal simply never pans out when I put pencil to paper. Most times I cannot get the seller to be realistic about the costs of what is needed in regards to price--- especially when compared to other "decent" cars of the same make and model out there.

    More money going in usually pays off. I find that the case for me. And to add I'm a DIY kind of guy. But like I said; it has to make sense on paper.

    IMO keep looking and good luck
     
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  21. EastMemphis

    EastMemphis Formula Junior
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    May 25, 2019
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    Memphis, TN
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    John
    As a DIY'er, when I was looking for a 360, I wanted the cleanest, most pristine and stock example I could find. While I am a DIY, I really would rather not be tearing apart my car, so finding a near perfect example would make everything easier. The car I bought is so freakin clean that all the nuts and bolts I've touched have been factory new looking. I doubt my car has ever driven in the rain. I'm really quite surprised at how a 20 year old car can look so new. A lack of rusty and crusty fasteners makes DIY life so much easier.
    Image Unavailable, Please Login
     
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  22. clean512

    clean512 Formula Junior
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    Feb 4, 2010
    590
    Nor Cal
    If you are a DIY style and aren't afraid I would say if you can get this down to the 70k I would do that.
     
  23. ketel

    ketel Formula 3
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    Aug 6, 2007
    1,282
    Sausalito, CA
    Love that color. Is that Grigio Alloy or Azzurro California? Or something else? Just stunning
     
  24. Shark01

    Shark01 F1 Rookie

    Jun 25, 2005
    4,186
    I will buy cars with a story because I'm always cash strapped and limited to the low end of the market. But not a car with this many issues and an accident of unknown severity. And an accident of unknown severity on a common production car will ALWAYS stay with it. On an F40, no problem....on a 360, I wouldn't do it. I think this car screams "unhappy ownership experience"

    So not only would I recommend you run for the hills....run for a damn mountain so this car can't follow you....LOL
     

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