360 First Time Buyer

maxwbrad · 10-24-2011, 01:30 AM

Am currently looking for a 360 F1 Spider and have seen 2001-2005's. Most have low milage around 500-1000/year and a couple are in the 40-50,000 miles range. Does anyone have any thoughts as to staying away from the high milage or is it better?
Thanks

Killer58 · 10-24-2011, 05:51 AM

Welcome to the site MB,

With so many low-mileage examples on the market, there's no compelling reason to buy a high-milage one. The money you save on the purchase price would simply be applied to the maintenance and repair bill.

During your search, tie a string around your finger, write a note on your palm, post a stiky note on your PC, however you want to remember it, but know that there are no "cheap" Ferrari's. If there were, everyone would have one.

Your first search action should be to read the Buyer's Guide contained here, and read Sheehan's columns on his web site. While no one can be 100% accurate, he pretty much nails it with his analysis of the 360.

The other valuable piece of advice I got from several members here when I started my search was that, if a $10K price difference (about the spread between high and low-milage cars) was the barrier to entry, then I probably couldn't afford one in the first place.

Good luck on the search and again, welcome.

Gcalo · 10-25-2011, 08:09 PM

Why buy high mileage if you can buy low mileage?

GuyIncognito · 10-25-2011, 09:00 PM

the funny thing is, the "high mileage" price penalty seems to kick in at 10k miles.

so buy one with a shade over 10k miles, not one with 40-50k miles

Gcalo · 10-25-2011, 09:02 PM

I would stay away from a high mileage car also as there are so many with lower mileage.

No need.

maxwbrad · 10-26-2011, 12:19 AM

Thanks for the advice...I found a 2002 F1 with 10K miles that I am looking seriously at. It just had its 15K mile service and belt replacement...

Killer58 · 10-26-2011, 04:34 AM

Bingo! Plenty of cars out there withunder 15K. Good luck. And remember, pictures when you get one.

Barry · 10-26-2011, 12:34 PM

Quote:

Originally Posted by Killer58

Bingo! Plenty of cars out there withunder 15K. Good luck. And remember, pictures when you get one.

+1 and welcome to FL

netman · 10-27-2011, 06:28 AM

Please consider the fact that low mileage garage queens have thier own inherit issues due to lack of use. Such as seals that fail from lack of lubrication. I personally think a vehicle should have at least 2-3k worth of miles for each year since production.

maxwbrad · 10-27-2011, 11:33 PM

Thanks to all for the comments.
Well, I made the plunge and pending a good PPI have purchased a 2002 with 10, 500 miles that has just had it's 15K service done. In blue tour de France with tan interior.
Now I have to work on holding my breath till it arrives.

wetpet · 10-28-2011, 03:54 AM

Great color scheme. one of my favs.

tazandjan · 10-28-2011, 01:13 PM

Max- Sounds like a great car. TdF is a beautiful color and I almost bought a 575M that color.

Please post some photos of your car when you get her.

Gcalo · 10-28-2011, 01:20 PM

That is a great color combo.

Sounds beautiful and do post a few photos when able.

Barry · 10-29-2011, 12:14 AM

Quote:

Originally Posted by maxwbrad

Thanks to all for the comments.
Well, I made the plunge and pending a good PPI have purchased a 2002 with 10, 500 miles that has just had it's 15K service done. In blue tour de France with tan interior.
Now I have to work on holding my breath till it arrives.

Congrats. TdF & tan is a great combo. Look forward to the pics.

maxwbrad · 10-29-2011, 12:24 AM

Will post some pics as soon as it gets here...should be in about 10 days...just in time to lay it up for winter storage here in NJ.

Boxer · 10-29-2011, 01:09 AM

Congratulations. Sounds very similar to my ex 360. Terrific car.

10-24-2011, 01:30 AM	#1
maxwbrad Owner Elite Member Join Date: Oct 2011 Ferrari Life Posts: 7 Name: Doug	360 First Time Buyer Am currently looking for a 360 F1 Spider and have seen 2001-2005's. Most have low milage around 500-1000/year and a couple are in the 40-50,000 miles range. Does anyone have any thoughts as to staying away from the high milage or is it better? Thanks

10-28-2011, 03:54 AM	#11
wetpet Owner Elite Member Join Date: Jan 2006 Location: Chevy Chase, Md Ferrari Life Posts: 6,599 Name: Ed	Great color scheme. one of my favs. Everything you know is wrong Stop chatting and start living the ferrarilife!

10-28-2011, 01:13 PM	#12
tazandjan Owner Elite Member Join Date: Aug 2011 Location: Albuquerque, NM Ferrari Life Posts: 3,592 Name: Terry H Phillips	Max- Sounds like a great car. TdF is a beautiful color and I almost bought a 575M that color. Please post some photos of your car when you get her. Taz Terry Phillips Present: 575M 135171 Past: Dino 246 GT 02984, 365 GTB/4 14009, 308 GTS 25125 Every day I look around, and if nobody is shooting at me, it is a pretty good day.

10-29-2011, 01:09 AM	#16
Boxer Owner Elite Member Join Date: Apr 2004 Location: UK Ferrari Life Posts: 12,778	Congratulations. Sounds very similar to my ex 360. Terrific car. Boxer Current: F40, F50, 612, 430 Scuderia Past: 360 Modena, 360 Challenge, 550, 575, 365BB, 512BB, 456 GT, F355 GTS, 365 GTB/4 Daytona, 308 GTB

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10-24-2011, 05:51 AM	#2
Killer58 Owner Elite Member Join Date: May 2010 Ferrari Life Posts: 1,419 Name: David	Welcome to the site MB, With so many low-mileage examples on the market, there's no compelling reason to buy a high-milage one. The money you save on the purchase price would simply be applied to the maintenance and repair bill. During your search, tie a string around your finger, write a note on your palm, post a stiky note on your PC, however you want to remember it, but know that there are no "cheap" Ferrari's. If there were, everyone would have one. Your first search action should be to read the Buyer's Guide contained here, and read Sheehan's columns on his web site. While no one can be 100% accurate, he pretty much nails it with his analysis of the 360. The other valuable piece of advice I got from several members here when I started my search was that, if a $10K price difference (about the spread between high and low-milage cars) was the barrier to entry, then I probably couldn't afford one in the first place. Good luck on the search and again, welcome.

10-25-2011, 08:09 PM	#3
Gcalo Owner Join Date: Feb 2006 Location: San Ramon, Calif Ferrari Life Posts: 3,613	Why buy high mileage if you can buy low mileage?

10-25-2011, 09:00 PM	#4
GuyIncognito Elite Member Join Date: Aug 2011 Location: SMO Ferrari Life Posts: 1,110 Name: Chas	the funny thing is, the "high mileage" price penalty seems to kick in at 10k miles. so buy one with a shade over 10k miles, not one with 40-50k miles

10-25-2011, 09:02 PM	#5
Gcalo Owner Join Date: Feb 2006 Location: San Ramon, Calif Ferrari Life Posts: 3,613	I would stay away from a high mileage car also as there are so many with lower mileage. No need.

10-26-2011, 12:19 AM	#6
maxwbrad Owner Elite Member Join Date: Oct 2011 Ferrari Life Posts: 7 Name: Doug	Thanks for the advice...I found a 2002 F1 with 10K miles that I am looking seriously at. It just had its 15K mile service and belt replacement...

10-26-2011, 04:34 AM	#7
Killer58 Owner Elite Member Join Date: May 2010 Ferrari Life Posts: 1,419 Name: David	Bingo! Plenty of cars out there withunder 15K. Good luck. And remember, pictures when you get one.

10-27-2011, 06:28 AM	#9
netman Owner Elite Member Join Date: Jun 2008 Location: SoCal Ferrari Life Posts: 61	Please consider the fact that low mileage garage queens have thier own inherit issues due to lack of use. Such as seals that fail from lack of lubrication. I personally think a vehicle should have at least 2-3k worth of miles for each year since production.

10-27-2011, 11:33 PM	#10
maxwbrad Owner Elite Member Join Date: Oct 2011 Ferrari Life Posts: 7 Name: Doug	Thanks to all for the comments. Well, I made the plunge and pending a good PPI have purchased a 2002 with 10, 500 miles that has just had it's 15K service done. In blue tour de France with tan interior. Now I have to work on holding my breath till it arrives.

10-28-2011, 01:20 PM	#13
Gcalo Owner Join Date: Feb 2006 Location: San Ramon, Calif Ferrari Life Posts: 3,613	That is a great color combo. Sounds beautiful and do post a few photos when able.

10-29-2011, 12:24 AM	#15
maxwbrad Owner Elite Member Join Date: Oct 2011 Ferrari Life Posts: 7 Name: Doug	Will post some pics as soon as it gets here...should be in about 10 days...just in time to lay it up for winter storage here in NJ.