Join Date: Apr 2007
Location: Southern California
Ferrari Life Posts: 44
Bob: Great forum/question here and I hope I'm not too late to the party to join in on this question! I have a 2000 Ferrari 360 F1, and think I can provide some decent insight. Additionally, I stumbled upon a website that has some good information to get you started on what to look for when buying a used Ferrari. So check it out if you get a chance its called EveBlue.com.
In my opinion I think you hit the jackpot as far as timing for buying a used 360. Just a couple years ago you couldn't touch one for under $120,000. I've had mine for about five years now and purchased it used as well. Unfortunately I paid a premium. So I would think of this as a "discount" to take into account when considering service costs.
To get straight to your point, I've paid quite a bit of money in service costs over the last five years for my 360. Well over $15,000, or $3,000++ per year. I bought it from a dealership, all services and records up to date. But I point you to that website because it points out so many factors that have to do with this purchase. Color, year, miles, owners, service records, etc.
My first suggestion - In my opinion, I highly recommend you don't buy someones super-low mileage "garage queen." These cars drive better when driven, and when driven by responsible drivers (it's usually a Ferrari aficionado that actually drives the car) service records will be better maintained. I've discovered that Super-Low mileage cars could spell trouble. Think of it this way, if you owned one, wouldn't you want to drive it, or would you rather "display" it to impress the guests at your cocktail party? Issues of leaky gaskets and missed services will be bypassed by former owners left for you to pick up!
Here are some costs you will absolutely incur.
1. Updated TCU
Like Gcalo said, "it's like owning an airplane" which brings me to your second point of using the car as an everyday driver and Ferrari vs. Maserati.
I believe its only been recently since Ferrari has made a car that is more designed for every day driving. I could be wrong though, but I wouldn't want to drive mine everyday, and I like the exclusivity of owning a car that is more built for a race track than everyday driving.
Last but not least, in my opinion, there's nothing like owning a Ferrari. My first Ferrari was the 456. I traded it for an Aston Martin Vanquish. The Vanquish was an unbelievable car no doubt, and one of the best looking cars made, but I couldn't wait to sell it and buy another Ferrari... which I did within the first three months and bought the 360... one day I'd like to own the 430 Scud or 458, but I hope to never have to trade the 360... nothing like a Ferrari. Hope that helps!