Checked out an '02 360 Spider Today - Ferrari Life
 
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post #1 of 12 Old 06-28-2012, 05:04 PM Thread Starter
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Checked out an '02 360 Spider Today

Hey Fellas,

So, preface this longish story with "Run Forrest, Run!"

Was in Columbus, Ohio on business today, about 1.5 hours from my home. Visited a dealer selling an '02 360 Spider, 13k miles, Rosso / Black, Power Seats, Rear Challenge Grid, 6CD Changer, Tubi Exhaust (a must for me!) and a few leather upgrades. Aftermarket Scuderia Shields - you can REALLY tell a difference between the aftermarket and the OEM when you've seen them both!

Dealer manager was nice, explained that I'm in the market. I didn't ask for a test drive because I'm not serious about his car. Visit was more just for my information, since I haven't had the chance to examine a 360 Spider in detail since I started my search in earnest.

Dealer doesn't know how many owners. Only has service records for about 16 months, claims belt service done in that time along with annuals.

Equipped with some very shiny chrome Asanti wheels, not my style at all. They looked way too difficult to clean. Clear bra, almost all leading surfaces wrapped. Some dirt under edges of clear bra, especially where bonnet meets bumper. Now for the good part.

Dealer manager says "No accidents." I ask him, "Is that what they told you to say?" He asks why, and I was very polite about it. Told him I wasn't there to insult him or his car, I just tell it like it is. Within 5 minutes of crawling around the car, I was able to tell (rather obviously and conclusively, so I'm proud of myself) that it was involved in a driver's side front corner collision. I pointed out how black paint had been applied to the ID Plaque on the trailing edge of that corner, visible when the driver's door was open. Also pointed out "drip marks" in black paint and red overspray on same pieces. Then we opened the bonnet and found more overspray (red paint on black surfaces is pretty easy to spot, right?!?!) on the driver's side edge. He told me, in his 30 years of selling high lines (yadda yadda yadda) he had never been proven wrong by a customer like that. He also said it was a "helluva" repair job. I kept quiet at that. I'm hoping he was blowing smoke, because the damage seemed so obvious to me. I got a little bit worried then, but held my ground.

In addition to the accident damage, it had a highly-customized Rockford Fosgate amplifier and dual-subwoofer arrangement right behind the seats. Not my style (maybe 10 years ago, but not today, and not in that car). I did like the iPod hookup though. That was the silver lining.

Next, ALL silver surfaces in the cabin were covered by a carbon-fiber looking contact paper (the kind you'd apply to your kitchen drawers). Obviously higher quality, and thinking how much someone must have spent on that LABOR made my head hurt. Even the guage cluser was papered over! Then, back in the engine compartment, SAME contact paper! This was applied to the left and right upper flanks, under the engine cover, but not directly next to the engine itself. Not my style. Oh, they also painted the air filter boxes Rosso Corsa. Sort of silly if you ask me, since it doesn't match the paint on the actual engine!!!

The car has tools, but is missing the car cover. Also, only 1 key and 1 black fob. So, that sort of tells me it has changed hands several times. I'm hoping for 2-3 owners in my eventual selection.

The last part is the kicker: I asked if he'd allow the local Ferrari dealer (and I believe our only Ferrari dealer in central/southern Ohio) to do a PPI. He declined politely. I started seeing warning flags pop up. Time to go!

I took that as my cue to exit. The wife was calling me anyway. Oh, and on that subject, she wasn't pissed when I told her this story. She listened to me talk, but I don't know if she "heard" a word of it. Oh well, PROGRESS!! At least she didn't shut me down or leave the room! I'll be behind the wheel before I know it!

PS: Private Sellers on Autotrader are pissing me off. You e-mail them about the car, and they never respond. I guess that means its sold. Dealers have always responded within like 60 minutes.

Hope you enjoyed my tale.

Later,
Raj
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post #2 of 12 Old 06-28-2012, 07:53 PM
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ow much are they asking for the car?

Sounds like a good one to avoid.

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post #3 of 12 Old 06-29-2012, 06:13 AM
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Good information Raj. Tell us what you are looking for in a 360, and maybe the community can help you find one.
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post #4 of 12 Old 06-29-2012, 08:52 AM
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The search is at least half the fun of ownership. I enjoyed the story, keep 'em coming.
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post #5 of 12 Old 06-29-2012, 09:57 AM Thread Starter
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Hey again Fellas,

David: They're asking ~$95k. Too much for a car with that sort of history, and all the dumb custom work, if you ask me. For instance, all the damn contact paper could be removed (it's like EVERYWHERE though), but who knows what sticky glue it might leave behind. No thanks. My leasing agent tells me: Never buy a car with a "story." This car clearly has a "story," and it's not a very clear one. By the way, "story" is meant to denote some NEGATIVE aspect of its past. We're together on this one - avoid, avoid, AVOID.

L.C.: WTB 2004-05 360 Spider F1 with less than 15,000 miles. Rosso / Tan. Hopefully fewer than 4 owners, with decent service records, keys, fobs, tools and cover. The less "custom" work, the better for me. Must have: Power Seats, Rear Challenge Grid, Scuderia Shields, Tubi Exhaust. The rest is negotiable! I'd like Daytona seats, but not a deal breaker. Front Challenge grilles are nice, OEM 1-piece Rims (not 3-piece modular) are preferred, but I can always pick up the rims I want later. Factory Hi-Fi is also nice, but I don't plan to listen to the radio much, favoring the engine and the car's vibe.

Rick: Thanks! Glad you enjoyed the story - my leasing agent did too. I'm proud of myself. As I get to see more cars, I'll certainly post my experiences. I'm having fun with the search. There are certainly good things and bad things. Things that make you wonder if you're doing the right thing, and then plenty of others to confirm that you ARE doing the RIGHT thing. Hell, a Ferrari is ALWAYS the right thing!

Later,
Raj
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post #6 of 12 Old 06-29-2012, 11:37 AM
 
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We have just under 50 Ferrari 360's for sale on our website, you might find one that fits your criteria: Ferrari 360 - Ferrari 360 For Sale
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post #7 of 12 Old 06-29-2012, 04:32 PM
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Raj,
Sounds like a perfect combo. Any reason why you would limit yourself to an 04? I'm no expert on the 360, but I don't believe that there were many improvements from one model year to the next that can be rectified without simple modifications.
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post #8 of 12 Old 06-29-2012, 05:28 PM Thread Starter
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Originally Posted by 355dreamer View Post
Raj,
Sounds like a perfect combo. Any reason why you would limit yourself to an 04? I'm no expert on the 360, but I don't believe that there were many improvements from one model year to the next that can be rectified without simple modifications.
Hey L.C.
No real reason other than trying to stay in the single-digit age range. It's a bit harder for me to justify about $100k on a 10 year old car, but if it's like 8 years or less, I'll feel better about it. That's about it. And basically, I can afford a later model, and with many good examples to choose from, I'm trying to satisfy about every 'want.' That said, there are some 04-05 cars with 4k miles or less going for $129-$139k, and I'm staying away from them. No garage queens, I want one which has been respectfully driven to my target mileage range. I'm planning for about $105k on this one. So the garage queens are out of my budget. If you can believe it, someone is selling one with 282 miles, total! Sounds impossiblE, right ?!?!? Who has a car that age with 282 miles for gods sake????
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post #9 of 12 Old 06-29-2012, 11:56 PM
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Raj,

Do a search on this site, we've discussed the 360 extensively in the past 24 months. You should find some good data to use as a guide.

Suggest you also subscribe to Ferrari Market Letter and also talk to Mike Sheehan. I think that will give you a far more accurate picture of the market. The prices you're quoting seem awfully high for 360s.

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post #10 of 12 Old 06-30-2012, 05:30 AM Thread Starter
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David,

Great advice, thank you. I will do that. If I'm overpaying, I want to head it off before its too late. The numbers I'm sharing are straight off of DuPont Registry or Autotrader or Cars.com, you name it. Maybe it's an early summer pricing spike or something. Do you think I could meet my requirements closer to $95k? Thanks!
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post #11 of 12 Old 09-07-2012, 12:17 AM
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Originally Posted by Global Autosports View Post
We have just under 50 Ferrari 360's for sale on our website, you might find one that fits your criteria: Ferrari 360 - Ferrari 360 For Sale
I have called one of the sellers and the guy told me car was sold 2 years ago. He said he called you several times to ask you remove the ad but you just don't want to do. What a lousy service IMO,
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post #12 of 12 Old 09-07-2012, 04:52 AM Thread Starter
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Originally Posted by EliseRR View Post
I have called one of the sellers and the guy told me car was sold 2 years ago. He said he called you several times to ask you remove the ad but you just don't want to do. What a lousy service IMO,
...Ouch...
That's one of the outlets I've been checking. I guess I'll temper it against what you've said!
Old listings are all over the place - Autotrader and others are guilty also. I've read somewhere that something like 50% of the cars you see listed aren't actually available anymore. Whatever! Just more work for due-diligence on the part of the buyer.
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