Owning a Ferrari - Ferrari Life
 
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post #1 of 7 Old 09-27-2009, 01:26 PM Thread Starter
 
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Owning a Ferrari

I am interested in your insights. I have been entertaining the thought of buying a Ferrari. I drive a Scion and love it as my mode of transportation. The last nice car I owned was a 911 20 years ago. My motivation is, as it was when I owned my 911, that I grew up with motorcycles and enjoyed the aspect of the history, performance, and the care and pampering and appreciation of a piece of engineering that brings just so much darn fun. It is the antithesis of just transportation - for that a Scion is perfect IMHO. Here is what I am seeking in the opinions from the members of this board:

-I will drive a Ferrari. It would not sit in the garage. Because of this and my practical nature my thoughts is to find one with a greater amount of milage so as to not take the huge depreciation hit. Is it reasonable to expect to buy a 360 with 40k miles and expect to drive the thing over the years to 120k miles or would you have to assume that at 75k you are in for buying a new engine?

-I like the 360. I like the 430's better but would not be willing to part with the cash needed. There seems to always be alot of 360's on the market lately. Anyone know if the prices are firm? When you see many on the market I tend to assume there is flexibility in price. Any predictions on the prices in coming 9 months?

Thanks so much for your input!
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post #2 of 7 Old 09-27-2009, 05:13 PM
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The 360s have been dropping in price as more 430s are produced. The 458 comes out next year and it will put downward pressure on the 430s and most likely the 360s, as well. So, I see 360 prices down ten or fifteen percent - ceteris paribus - in the next nine months. Of course, a significant change in the global economy would have an impact, as well - up or down.

That being said, if you plan on keeping one for a protracted period of time and putting that many miles on the vehicle, I wouldn't worry about ten or fifteen percent - may not be the cost driver in the total cost of ownership.

Not sure how many miles a 360 engine could last. Obviously, proactive maintenance is key.

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post #3 of 7 Old 09-27-2009, 09:25 PM
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+1, 360s early are at about the bottom of the depreciation curve. Perhaps another 10-15% left but it depends on what happens with the economy. In you case might make sense to buy one that already has a few miles on it and not pay a "low mileage" premium.

In terms of the engine. Assumign they are maintained, no reason why you could not see 150,000-200,000 miles before needing a rebuild.
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post #4 of 7 Old 09-27-2009, 11:29 PM
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As the 360 gets older you'll see prices coming down further, especially with the F1 gearbox which has its maintenance issues.

Just like any other car, expect some losses in depreciation and dealer profits. But it won't be drastic on a 360.

I mirror Boxer's sentiment - go for a car that has some miles on already if you are going to drive it yourself. There is not much difference in price between a 30,000 and 50,000 mile car, but there is a big difference between 10k and 30k. So if you buy the 10k and put 20k on, you'll feel it in your pocket much more. The added bonus is that the 30k car will generally be more reliable as Ferraris don't like standing.


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post #5 of 7 Old 09-28-2009, 05:04 AM
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The conventional wisdom says 360 prices may drop further in the next year or so, but probably not all that much. I see the nice examples (i.e., well optioned and cared for) already firming up after much less drop to begin with.

As for driving your 360, that's the best thing you could do for it. The more I drive mine, the better it runs. When properly maintained and regularly driven, I've never seen or heard of one wearing out anything (certainly not the engine). People occasionally break them on the track (or by abuse) but Ferrari race philosophy over-engineering pretty much guarantees extremely high miles on the street. The only real difference between a well cared for 10K mile 360 and a well cared for 40K mile 360 is the price. If anything, the 40K mile car might be better since it's obviously been driven regularly and well sorted by now. Both will go way beyond 120K well cared for miles.

Do your homework to find a nice example, but I think you'll also find there's LOTS of life in a good 360.

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post #6 of 7 Old 09-28-2009, 09:15 AM
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I agree with all the 360's have not seen bottom. But there are no bargains in Ferrari. You get what you pay for. Still, another 10-15% EASY. Too many newer models are springing up, 360 are well dated but a nice catch. As much as I like the 355, I would spring for a 360 before considering a 348/355 at this date: looks are not the key, but the performance and easiser maintenance costs. 360's will need some sorting for older models, and as many have had mods/upgrades etc. they will be needing some sorting ... but, still a nice catch: Me, I'll have to wait, and pick up a nice one, spider thinking, later, when I feel they are holding steady in depreciation.

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post #7 of 7 Old 09-28-2009, 08:31 PM Thread Starter
 
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Thanks you for all your input!
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