Possible First Ferrari

Hi everyone.
I'm considering buying my first Ferrari.
After much research, I have decided I would be happy with a 360 Spider F1 in Red or Grey.
I'm looking for a 2004-or-05 with under 35,000kms.
If I find the right car, in excellent condition, would I realistically be looking at $125,000-130,000 Canadian?
I'm in Ontario BTW, and I'd prefer not to have to import from the U-S.

thx

 

Sounds like a great plan. You should view all the cars in your area that fit the bill for you.

You can then compare price vs condition vs service and decide.

Your upside is the car you are looking for is not to rare, and not too over produced. You should be able to find a nice mix of cars to compare.

I would recommend you take your time and really talk to people that know the cars, and service them and see as many cars you can to educate yourself on what the common pitfalls are on the model. This way you avoid surprises down the road.

Good luck on your search - sounds like a very exciting time, especially realizing your dream to get the car you want is within reach.

 

I will have a 2002 F1 spider coming in this weekend, Rosso over Crema with black top. Very nice example and will be substantially less than the numbers you are thinking.

I realize you are looking for an 04 - 05, if you consider an 02 get in touch we are in Niagara.

All the best in your search,
Regards,
Mike
AutoSport Niagara

 

I am in ontario, but I bought my car from Ferrari of Alberta, they shipped in an enclosed trailer....basically what I am saying, do a detailed search of all the Ferrari dealers in Canada and check out their inventory. Ferrari Alberta, Ferrari Vancouver, Ferrari Quebec etc. Have fun!

 

This dealer has had this car for sale about 2 years! He has messed with his price and is chasing a market try him...
From what I remember car is clean with good history.
I went with a 550 instead of the 360, so I cut off discussions

2003 Ferrari 360 | DriveTown Ottawa

 

Seems a tad high...but it does look real good

 

Don't waste your time. I reached out to this guy a few times, total flakes and won't budge on their price. Plus, do you really want a car that's been sitting for 2-3 years?

 

Good day,

Indeed, as others have stated do your homework and look around. Here in Alberta there are three 360 Spiders (2001 to 2002) listed on Kijiji:

Ferrari | Find Great Deals on Used and New Cars & Trucks in Alberta | Kijiji Classifieds

Prices range from $89K CAN to $91.5K CAN with KM's from 40K KM to 51K KM. I do not anything about these particular cars, but simply noted their prices... which I thought was on the low side if they checked out.

Cheers,

Sam

 

Thanks for the quick replies everyone.
I'm doing as much reading about these cars as I can.
I might pop in here tonight with a few more questions, if that's ok.

thx

just want to add that for the past 28 years I've had classic Corvettes...this would be quite a change

 

Wow.
Been doing a lot of reading and getting pretty discouraged.
One guy says maintenance can run as high as 10k a year! Really?
And what's the deal with this guy? deadspin-quote-carrot-aligned-w-bgr-2
Been learning about issues with the cam variators, manifolds, sticky buttons, convertible top reliability, F1 vs manual argument, clutch wear, pre cats, trans mounts, motor mounts, chassis cracks, etc.
As far as finding a car, I figure I'd get the latest one I could (2004-05) in the best condition I could find...with verifiable history and up to date service...including recent belt service. That now seems to be the easy part.
Maintenance and the stress that comes with it seems to be the hard part.
Do I have to accept the fact that if I'm not rich, I should forget Ferrari ownership?
BTW...these two cars look pretty nice...
2003 Ferrari 360 Modena MANUAL, $131,900 - Montreal | Ferrari Québec

Used 2005 Ferrari 360 For Sale | Concord ON

 

360 major services aren't cheap unless you have a good indie shop around you that doesn't bend you over at $200/hr+ like the dealer will.

If you're able to raise your budget I would go for the F430 as it is widely considered the first low maintenance Ferrari (relatively speaking).

 

this car was on the market last year as well. Seller is firm on his price, but even still, unless theres something under the surface to be aware of, IMO, its an absolute steal:

2000 Ferrari 360 Modena Coupe (2 door) | used cars & trucks | City of Toronto | Kijiji

out of province, but this car used to belong to an f-chat member here...I think its very interesting. Was for sale last year as well:
http://www.kijiji.ca/v-view-details.html?adId=1260356551&requestSource=b

I think its a very different market in Canada than in the US. All of these cars (360s) are slow to sell.

 

Long time reader, first time poster.

I had been looking at the first one you mentioned. It has no service history, because the owner claims that his cousin, who is a "race car mechanic", has serviced it for the last three years. The current owner has had it for three years and doesn't even have any history before then either. Also it had an accident to its "rear bumper."

If it wasn't for the fact it's a Manual for a decent price I wouldn't take a second look, but since it is would a thorough PPI be enough? Also are earlier 360's as problem prone as I have been reading?

 

????? All I can think of is variator solved by recall and this isn't even a particularly early car

The car without history would need a very thoro PPI and then your commitment to keeping it a long while to build up a current service history otherwise the next purchaser will ask the same question as you

Also not many purchasers would want the 'hot rod' spec

 

+1 for 3mar67 you really should consider a 430 instead of the 360 and go with a coupe if it would help you get to a price you would be comfortable with.
Good Luck!
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