Settling in on getting a 360 | FerrariChat

Settling in on getting a 360

Discussion in '360/430' started by zer0t, Jun 19, 2014.

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  1. zer0t

    zer0t Rookie

    Feb 20, 2010
    18
    Montville, NJ
    Full Name:
    Robert Graffeo
    I'm pretty settled on getting a 360 at this point. I started looking at F355 and really love them however, my co-owner (wife who likes her fast cars) finds the 360s to be more visually stimulating. Hey, she's letting me get a Ferrari so why complain?

    I've been reading quite a bit, the buyers guide is helpful, other questions being asked by prospective buyers are helpful.

    I am thinking that I need to get an 02 or newer based what I've learned. It seems by 02 the different issues with the car have been worked out unless 99-01 owners were diligent about the campaigns. The issue is most sellers don't have a recollection of the campaigns and history. I am sure there are some out there but not the folks I've come across over the last 4-5 months. I have no desire to get an 02 or newer for any other reason other than this. If anyone knows of a way of verifying the campaigns completed on a particular car I'd love to learn how.

    I am interested in a F1 coupe Red, Nero Grigio, Giallo in that order but like them all enough to make it about the best car available. I am open to different options but like the Daytona seats, challenge grills. I am also willing to part with the extra money it takes to get one in the 10k-20k mileage range.

    I've spent time chatting with an independent shop that does the service and I don't live far from Ferrari of Central NJ if necessary. I think I've thought about most things but until I dive in I won't really know for sure.

    Any flaws with my thoughts I'm open to the criticisms.
     
  2. Kevin Rev'n

    Kevin Rev'n Two Time F1 World Champ
    Owner Silver Subscribed

    Nov 29, 2009
    24,509
    Honolulu
    Full Name:
    Kevin
    Any car that was serviced through the Ferrari Dealer Network will have all the documentation of campaigns in a database that a Ferrari Authorized dealer can easily access. Considering this I wouldn't overlook an older car if it were at a dealership or if you could get a dealership to run the cars VIN for you.
     
  3. mikeyr

    mikeyr Formula 3

    Jun 17, 2004
    2,154
    Santa Barbara, CA.
    Full Name:
    Mike Rambour
    Ferrari can tell you if the campaigns were done...
     
  4. OUMick

    OUMick Formula 3

    Apr 26, 2014
    1,090
    Myrtle Beach, SC
    Full Name:
    Mike
    I know not all cars had the campaigns done but I doubt there are that many. Who buys a Ferrari and doesn't care to get them done. My 00 did have everything done (verified by Ferrari). That would be the place to start.

    I have a F1 and will probably be getting the TCU upgrade soon. Even though I haven't had any problems.
     
  5. F456 V12

    F456 V12 F1 Veteran
    Silver Subscribed

    Mar 13, 2004
    5,274
    Coto de Caza
    Full Name:
    Christian
    #5 F456 V12, Jun 19, 2014
    Last edited by a moderator: Sep 7, 2017
    When I sold my 360, I provided the new owner with a complete service history notebook. Every battery, tire, even window tinting was documented. As already mentioned if the car was serviced by a Ferrari dealer, they can very easily print out each service record, including campaigns.

    MB
    Image Unavailable, Please Login
     
  6. up4speed

    up4speed F1 Rookie
    Silver Subscribed

    Feb 16, 2012
    3,693
    Long Island, NY
    Full Name:
    Chris
    I would guess that at least 85% of the 360's wind up between 10k and 20k miles. I'm thinking a premium would be paid for under 10K miles. 10-20k is average, and over 20k miles you are looking at a discount. That's just my opinion, maybe someone else with more experience regarding pricing can chime in.
     
  7. Mozella

    Mozella Formula Junior

    Mar 24, 2013
    905
    Piemonte, Italia
    Here are my two cents:

    It's no surprise that newer cars and low mileage cars are worth more. But as far as I'm concerned, there is a limit to the value associated with "low miles". A 15 year old car driven less than than 700 miles per year strikes me as a little bit weird and perhaps even bad, yet if you live in California cars like this apparently command a premium; sometimes a large premium. I don't get it.

    Frankly, the idea of tying up an extra $10K in this way doesn't make sense, at least to me.

    I bought a well maintained 360 Modena (year 2000) which had the proper campaigns performed. It had been driven about 2500 miles per year, which seemed OK to me. The price I paid reflected both the age of the car and the mileage, neither of which I consider excessive.

    Yes, low mileage is a factor, but personally I think people put too much value on it.

    My recommendation would be to decide how important color is to you because buying the wrong color, if color is important to you, is a big mistake. If color isn't important, you're blessed. But if it is, be sure to buy the color (or one of the colors) you want because if you don't, you'll regret it every time you look at your car.

    Then, search for a well sorted car which is priced appropriately for the age and mileage. Unless you pay too much, driving a 360 which is 5 years older and has 25000 more miles than your "dream car" shouldn't bother you at all. In fact, I get a warm fuzzy feeling knowing that my clutch was brand new when I bought the car and since then I've put on new brake disks, new motor/transmission mounts and a few other items. I prefer that to saying, "Gee these disks look nearly new. You would never guess they're 15 years old."

    In other words, don't discount older cars with higher mileage as long as they're in good shape and priced appropriately.
     
  8. fabo

    fabo Formula Junior

    Dec 14, 2013
    552
    Sydney
    Full Name:
    Fabo
    So different to Oz
    90% of 360s have 20m miles
    And we pay much more
     
  9. 88Testarossa

    88Testarossa Formula 3

    Sep 25, 2012
    2,450
    Annapolis and Daytona Beach
    Full Name:
    Al
    Contact Richard or Fernando at Competezione in Gaithersburg, MD. They know of a couple of customer cars that are for sale with complete service history.

    They just changed the oil in my 360 and had a couple of 360s that are up for sale

    They are honest as the day is long.

    Sent from my iPhone using Tapatalk
     
  10. English Rebel

    English Rebel Formula 3

    Aug 13, 2013
    2,158
    Piedmont Area of NC
    Full Name:
    Alan
    I agree on the mileage thing -- low miles might be nice as a selling tool but not good for the car. If you get a PPI done at a dealership they should tell you about all campaigns that were performed. Don't discount the 99 or 00 models -- particularly the 99 as it doesn't have the pre-cats.
    Alan
     
  11. ncjetskier

    ncjetskier Formula 3

    Jul 7, 2012
    1,416
    Eastern NC
    Full Name:
    Chris
    IMO one of the worst things for machinery is to let it sit. Things dry out, fluids brake down etc. I would rather purchase a 30K car that was well maintained than a 5K car that just sat in someone's garage.

    When I purchased my car (03 360) I asked myself what I planned on doing with it - drive it ALOT or only on special occasions? I drive my car alot (at least 2 times a week) and they are spirited drives. To me mileage does not mean much, as I am putting on miles at a fairly quick rate.
     
  12. Tim1137

    Tim1137 Formula Junior

    Aug 16, 2011
    817
    Providence - Boston
    Full Name:
    Tim
    If your looking at a manual transmission car, there isn't much difference in the 02+ versus the older models. Just some campaigns that should have all been addressed by now in any car.
     
  13. Transhuman

    Transhuman Karting

    Sep 12, 2010
    107
    Cloverly
    Full Name:
    Juan
    I agree. Those guys will steer you in the right direction all day long.
     
  14. zer0t

    zer0t Rookie

    Feb 20, 2010
    18
    Montville, NJ
    Full Name:
    Robert Graffeo
    Very interesting and informative posts. I appreciate everyone's thoughts on these topics and I have found it very helpful.

    I will Competezione and see what they potentially have for me.
     
  15. Kevin Rev'n

    Kevin Rev'n Two Time F1 World Champ
    Owner Silver Subscribed

    Nov 29, 2009
    24,509
    Honolulu
    Full Name:
    Kevin

    I love it when plan comes together!
     
  16. up4speed

    up4speed F1 Rookie
    Silver Subscribed

    Feb 16, 2012
    3,693
    Long Island, NY
    Full Name:
    Chris
    How do you feel about a low mileage car that was maintained?
    For example: A car that is driven once every week or two. Never driven for short runs (enough to burn off moisture, etc.), and has fluid changes yearly?
     
  17. Mozella

    Mozella Formula Junior

    Mar 24, 2013
    905
    Piemonte, Italia
    Do the math. If it takes 10 or15 minutes to get the oil temp off the peg and let's say an additional half hour to evaporate any moisture in the oil, you're talking about a 45 minute drive, more or less; say 40 miles for arguments sake. If you do that every week or two that would be perhaps 40 times a year which makes the "maintenance" mileage 1600. Then let's throw in a 150 mile trip once every four months making the annual mileage 2200. I don't think anyone would argue you're wearing out your car with annual mileage that low, but it adds up. For a year model 2000 Ferrari it would make the accumulated mileage just over 30K.

    In other words, if you have a lightly used Ferrari with some age on it it's going to be considered a "high mileage" example by California standards. A 14 year old car with 5K on the odometer is a museum piece, not a real car used by a real person.

    My car is nearly 15 years old and has about 42 thousand miles. If it were used any less I would start to worry, but by California standards I should just burn it where it sits and save the cost of a tow to the junk yard. ;)

    In fact, many Italians who love the Ferrari brand but don't keep up with the various models guess that my car is only a few years old and costs four times what I actually paid for it. In other words, they don't think it's a piece of junk and neither do I. However, I gave up living in California over 40 years ago, so I'm not nearly as hip as I once was.
     
  18. Treviso

    Treviso Formula Junior

    Sep 30, 2012
    549
    Michigan
    Full Name:
    Robert
    The general public is totally oblivious as to how old your Ferrari might be. They don't even know what a Ferrari is in most cases. I had a guy come up to me at a gas station and ask me if my 430 Spider was the new Mustang! Some people are more observant than others...some people just need glasses!
     
  19. OUMick

    OUMick Formula 3

    Apr 26, 2014
    1,090
    Myrtle Beach, SC
    Full Name:
    Mike
    People don't believe me when I tell them my 360 is 14 years old. It does look new but the public has no idea. There are some informed people out there but they are few and far between.
     
  20. ncjetskier

    ncjetskier Formula 3

    Jul 7, 2012
    1,416
    Eastern NC
    Full Name:
    Chris
    I agree with Mozella. I am not saying a car with 5K in miles is junk, but doing the math shows that it sat for a long time. IMO the premium that people ask for when selling the car is not worth it as the car may have a different set of problems than a car that has been exercised regularly.

    I run my car about 40 miles twice a week (80 miles a week) with some trips that range from 300-400 miles several times a year. The miles add up quickly. I have put 7K in miles the first year. If this was done every year since the car was new, it would have over 70K in miles. My car currently has 30K in miles.

    What is strange is seeing a car with 10K in miles for sale and the description states "clutch just replaced". When you do a search on the 360 clutch, it seems that most should last 25-30K in miles.
     
  21. Mozella

    Mozella Formula Junior

    Mar 24, 2013
    905
    Piemonte, Italia
    I live in Italy. I assure you the general public knows exactly what a Ferrari is; even old hunched over grandmothers. Of course not every grandmother can tell you the age and model of every car they see, but neither can I. One thing for sure, no Italian has ever asked me if my car is a Mustang.

    But the question isn't about how stupid the public is.

    The point is that an older, rather ordinary (by Ferrari standards), well maintained, automobile with a reasonable number of miles on it can still be a nice car to own if the purchase price is right. And, depending on where you live, the car will attract compliments from the general public.
     

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