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What is this 360 worth?

Discussion in '360/430' started by noahlh, Feb 6, 2004.

  1. noahlh

    noahlh Formula 3

    Aug 28, 2003
    2,225
    NYC, NY
    Full Name:
    Noah
    I submit to the Gods of Fchat a question about a 360 I'm looking at. Any opinions would be greatly appreciated...

    Here's the scoop on the car:

    -- 1999 360 F1, Rosso Corsa/Tan, base model (no options).
    -- 16,000 miles
    -- One-owner car, being sold by the same dealer where it was "born".
    -- Full service records, clean history, no major issues -- (all the recalls were performed)
    -- Will have just completed 15k major service, including belt change
    -- FNA extended warranty (powertrain+) is available for ~$2K
    -- Has original ECU. Updated ECU with '00+ F1 software would cost ~$1700 (if necessary).

    Dealer is asking $141,500 (on behalf of the owner), which I believe is a bit high for a '99 with this many miles, despite its terrific condition.

    Any opinions about what a car like this should realistically go for?

    Thanks!!

    --Noah
     
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  3. BigTex

    BigTex Seven Time F1 World Champ
    Rossa Subscribed Owner

    Dec 6, 2002
    73,215
    Houston, Texas
    Full Name:
    Bubba
    Ask your banker what the loan value is. That's the number.
     
  4. Tomf-1

    Tomf-1 F1 Rookie
    Silver Subscribed

    Jan 17, 2004
    4,475
    Leawood KS/ South FL
    Full Name:
    Thomas
    I assume this is a US model and not Euro? The sprd is significant; therein lies the need for clarification.

    If this car passes its PPI, you should be able to buy it for around $120000.....Prior to buying my 512TR, I was briefly in a market for a 99 F1 360M and most nice ones I found w/ similar milage were priced b/w 115000 to 125000 (US models)....

    Good luck to you.
     
  5. scott63

    scott63 Formula Junior

    Nov 1, 2003
    393
     
  6. WCH

    WCH F1 Veteran
    Rossa Subscribed Owner

    Mar 16, 2003
    5,179
    Lots of good facts about this car, service history, one owner, 15k service. To me, all that is quite valuable. I think I'd consider buying the extended warranty, depending obviously on what it covers and for how long. The warranty could easily pay for itself. I very rarely buy warranties on anything. What do others think about the warranty?
     
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  8. noahlh

    noahlh Formula 3

    Aug 28, 2003
    2,225
    NYC, NY
    Full Name:
    Noah
    Thanks all for the thoughtful replies so far.

    Some additional bits I didn't mention in the original post:

    -- Car is indeed a US model.
    -- The F1 clutch currently shows 40% wear @ 16,000 miles, which I'm told is remarkably good (these cars usually show this much wear at 4,000 miles).

    --Noah
     
  9. mbarr

    mbarr Karting

    Jan 11, 2004
    220
    Its worth exactly what you will pay. I would offer 120k firm.
     
  10. nberry

    nberry Formula Junior

    Nov 1, 2003
    714
    There are some on this board who will tell you that the market is so bad for the 360 the dealership should pay you to take it off their hands.

    Kidding aside the 141 figure is high but I am certain negotiable. I certain would get an extended warranty since the car is out of warranty.
     
  11. scott63

    scott63 Formula Junior

    Nov 1, 2003
    393
    Noah,

    Two important points about this car. First, 15K miles is considered very high in Ferrari world. Personally, I wouldn't buy one with more than 10K on it. The cars become very difficult to resell with over 10K to 12K miles. Second, not having power seats in a 360 is a huge negative. Even though most owners set the seat once and then leave it alone, both Ferrari dealers and wholesalers will take off as much as $10,000 for the lack of this option. Before you think I'm crazy, I have purchased two Ferrari's (355 and 360) in the last 8 months and spent a lot of time talking to most of the dealers in the U.S.
     
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  13. johnw

    johnw Formula Junior

    Jun 19, 2002
    438
    toronto
    Full Name:
    john
    car is worth $100 TOPS. call a ferrari dealer and tell them you want to sell the car. they'll tell you what they are willing to pay for it. you shouldn't pay more than $5-10K over that.

    5 year old car
    high miles (for a ferrari)
    expensive maintenance coming up.
     
  14. allanlambo

    allanlambo F1 Rookie

    Jun 9, 2002
    4,363
    Maui
    Full Name:
    Allan
    No more than 100K, and thats pushing it.
     
  15. Diablo

    Diablo Formula Junior

    I really don't know about the price. but the fact that you would have had the 15K service done before buying is a good deal. That's at least $4-5 K.
    I would get the FNA extended. I read about it and it seems very good.
    Also, about the F1 ECU, I would have them throw it in towards the sale.

    Good Luck to you
     
  16. acw

    acw Karting

    Nov 3, 2003
    122
    You should be in the 110 - 120 range. Remember that 15K miles is a lot for a ferrari. Keep in mind that the ferrari market is nationwide. Look at ferrariads.com and ferrarimarketletter.com

    What color is it?

    Also, if you can look at the car, check the rotors for cracks. Small cracks are fine but likely indicate that the car has been tracked.

    Good luck.

    AW
     
  17. Mako98PonyGreenComendator

    Feb 5, 2004
    23
    ELLEN, WHERE IS DATA TO BACK THAT UP? OR ARE YOU JUST TALKING TO HEAR YOURSELF? MAYBE THE JALPA/URRACO'S OUTSTANDING RESALE, OR YOUR OWN PRECIOUS SV'S RESALE IS BETTER?
    F-CARS AREN'T THE PERFECT CAR, NOR ARE YOUR FAVES.
    THESE CARS DEPRECIATE, FAST. NEW /USED MURCS ARE AS BAD OR WORSE THAN MARANELLOS.
    NOTCH BACK, OR FIND A VENUE THAT GIVES A FOCK. YOUR NEGATIVITY IS TIRESOME
     
  18. Bart

    Bart Formula 3

    Nov 1, 2003
    1,488
    Orange County, Calif
    Full Name:
    Bart
    A 360 is worth how much someone is willing to pay for it.
    $1.00 to $100,000,000.00. A very personnel question.
     
  19. acw

    acw Karting

    Nov 3, 2003
    122
    Mako, in Allan's world, an 03 360 Spider with 400 miles is worth $140K so at least he is consistent... I think he is ahead of his time :) :) Maybe in 2 years?

    AW
     
  20. allanlambo

    allanlambo F1 Rookie

    Jun 9, 2002
    4,363
    Maui
    Full Name:
    Allan
    What does any of this have to do with a cars true worth? You can convince yourself that it is worth more, im telling you what its worth. I never said that Murci hold their value, they depreciate the same way as the Maranello. Pay 150K for a 99 for all i care, but in reality, its 100K car.
     
  21. allanlambo

    allanlambo F1 Rookie

    Jun 9, 2002
    4,363
    Maui
    Full Name:
    Allan
    This is reality. If you dont believe it, ask Taek, who is driving the car as we speak, for 140K. And its an 02 btw.
     
  22. Mako98PonyGreenComendator

    Feb 5, 2004
    23
    I'M NOT CONVINCING MYSELF OF ANYTHING, ELLEN. I ASKED FOR FACTUAL SUPPORT OF VALUE. AUCTION SALES, YOU KNOW, REALITY, NOT YOUR SELF-AGGRANDIZING BS.

    THE MAN ASKED A QUESTION. HELP HIM WITH FACTS, OR STFU. ISN'T THERE A LAMBO BOARD THAT NEEDS YOU? MAYBE A STAGE12 996 WATERCOOLED CRAP BOARD?

    I THINK 110-112 MAX RETAIL WITH SERVICE DONE, EITHER TOSS IN ECU UPGRADE OR POWER PLUS WARRANTY. OR LET ELLEN NEGOTIATE DEAL, I HEAR HE'S AN EXPERT.
     
  23. acw

    acw Karting

    Nov 3, 2003
    122
    Sorry Allan. I believe you but I think your friend enjoyed a very unique opportunity which is not representative of the current market.

    AW
     
  24. Mako99

    Mako99 Formula Junior
    BANNED

    Dec 29, 2003
    454
    1. First model year of the line, which is never a desirable thing when it comes to V8 non-collector F-cars, particularly with this being an F1 equipped car.

    2. HUGE miles on this car. If you're at all concerned about resale value later then it's not for you.

    Here's why: Based on the depreciation rate the 360 is experiencing right now, and accelerating it to 355 levels once the Monza arrives in 24 months or less, we can get an idea of where your $141k Modena will be in say 36 months. If you drive it fairly often you'll be near 30k miles by the time you want to sell it. You'll pay for the 30k service (huge) and a new clutch by then (huge) and then you'll find that the most the car is worth will be approximately $80 - $85k max. So in three years, including the servicing, you lost around $70k total if you purchase it at $141k.

    lol, jesus christ, that's worse than I thought when I started to explain it!

    Anyway if you decide to buy it, you better LOVE it and want to drive it until it falls apart, because you sure won't be selling it unless something catastrophic happens.

    3. Upgrades, extended warranty, one owner car, etc.

    Don't care about any of it. Go read #1 and #2 again.

    Right now is such the wrong time to be in the Modena market, you're better off getting a 355 to satisfy your Ferrari jones, and selling it in 24 months and THEN going to the 360. The 355 will only depreciate by say $10 - 15k max (pay $70k for it now, sell it for $60k later), and you won't have to do a major service if you fit one into your mileage window.

    Or even better, buy the 355 now, wait for the vastly superior Gallardo to depreciate to around $100k (36 months from today at most with the volume Audi is throwing into the market) and then pick one of those up and be the MAN. lol
     
  25. Jimmy540i

    Jimmy540i Formula 3
    BANNED

    Jan 11, 2004
    2,450
    Los Angeles / NYC
    Full Name:
    www.Jimmy540i.com
    I'm with you on this one.

    JIMMY
    www.Jimmy540i.com
     
  26. Cavallino Motors

    Cavallino Motors F1 World Champ
    Lifetime Rossa

    May 31, 2001
    14,143
    Florida or Argentina
    Full Name:
    Martin W.
    $100,000 tops?????

    You guys please find me some of those cars with F1 and US models. I can use at least 3-4 of those.

    You all need a reality check. Those numbers are not even fully achieved in EURO models.

    $100,000 LOL, please tell me how much a EURO is going for then? $50K?

    Find me those cars. I buy them!
     
  27. Gary(SF)

    Gary(SF) F1 Rookie

    Oct 13, 2003
    3,637
    Los Altos Hills, CA
    Full Name:
    Gary B.
    Wow. Hadn't heard this one before. Anyone else around who can confirm/deny? Martin?

    Gary
     
  28. J Nicks

    J Nicks Karting

    Dec 4, 2003
    58
    Gary, I agree, I haven't heard this either, Could someone please confirm? Thanks
     

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