Potentially Buying a Ferrari 360 - Ferrari Life
 
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post #1 of 8 Old 07-11-2013, 12:11 PM Thread Starter
 
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Location: Cary, North Carolina
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Potentially Buying a Ferrari 360

Hey guys, I'm Arnav and I'm new to this forum (I came from a similar forum for Mercedes owners). I am 17, and my first car was a C63 AMG. My parents are neurosurgeons, and I got into Duke, so they said they will upgrade my car (max of $20k to my $40k trade in value). I was originally looking for another Mercedes AMG, but now I am looking at a Ferrari for sale nearby.

There is a 1999 Ferrari 360 Coupe for sale at Foreign Cars Italia (Nearby dealer), that has just arrived there. It has 35k miles and is for sale for roughly $59,000. However, before buying it, there a few things I need to clear up.

Can I daily drive it? I currently daily drive my C63 every day, and I have put about 5k miles on it in the past year, and I will put the same amount on the Ferrari for the next ~10 years while I'm in college/med school/residency.

If not, what do you guys think I should get?

Thanks Guys!

- Arnav
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post #2 of 8 Old 07-11-2013, 12:24 PM
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Welcome Arnav!

A 360 is a good car to start your FLife and is driveable every day. Go for it!

I had a friend who drove his 328 daily (may be less expensive than a 360, but only marginally I suspect).

I own a TR as well and would never consider using it as a DD.

Good group of people here on FLife should make you feel very welcomed.
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post #3 of 8 Old 07-11-2013, 12:28 PM
 
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5k a year is not that much, so thats not the problem... But i dont know about the weather in the area you live... In snow i wouldnt drive it...

And the maintanance costs will be a lot higher then your current car..

But for sure its freakin awesome to have your own Ferrari at 17yrs old!!

Good luck with your choice!

Nick
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post #4 of 8 Old 07-11-2013, 12:35 PM Thread Starter
 
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Quote:
Originally Posted by 360 Modena View Post
Welcome Arnav!

A 360 is a good car to start your FLife and is driveable every day. Go for it!

I had a friend who drove his 328 daily (may be less expensive than a 360, but only marginally I suspect).

I own a TR as well and would never consider using it as a DD.

Good group of people here on FLife should make you feel very welcomed.
I was looking at a 328, but my dad refuses to let me buy one since he's the one dishing out the cash (he thinks it will break down a lot more than a 360/maintenance and servicing will be more expensive). And nice talking to you! Just from the start, the people here seem nicer than at the other forum (you can probably guess what it is but I don't think I'm allowed to say it).

Quote:
Originally Posted by NickBongio View Post
5k a year is not that much, so thats not the problem... But i dont know about the weather in the area you live... In snow i wouldnt drive it...

And the maintanance costs will be a lot higher then your current car..

But for sure its freakin awesome to have your own Ferrari at 17yrs old!!

Good luck with your choice!

Nick
I live in NC, and it rarely snows. When it does, it's hardly more than an inch, and it doesn't stick (melts away in minutes). Since I will live on campus, I won't have to worry about snow-driving unless there is something I absolutely need. Also, I will probably buy a nice cover for it! And this will be a first for my family and I. My dad had a Murcielago Spider, and sold it last month, in order to pay for my 60k/year college tuition. I ended up getting a scholarship, so he figured that it would be "fair" if I got some of the money that he would be saving. He has never had a Ferrari, only Lambos and Mercs, so he probably wants it just as much as me. But since it will be primarily mine, I want to make sure I can drive it regularly, and safely put on 40k miles by 2020.

Also about maintenance: I currently have a 2010 C63 AMG, and the maintenance is already pretty bad, maybe $1-2k annually, plus other goodies that I need such as tires etc, so how much higher will the 360 be?

Insurance: Since it's on my dad's insurance and he has it listed that I drive his cars, it will only be going up like $40, since my dad and I have been safe drivers (I haven't been in a wreck, he hasn't been in one for 8 years).
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post #5 of 8 Old 07-11-2013, 03:56 PM
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Haha, another Desi looking for a 360! I have a 2001 360 Spider F1

If FCI allows it, get a good thorough PPI from an independent third party. Pay particular attention to the clutch wear (if an F1 car) and the condition of the headers and cats. In my case, the clutch is solid but the headers and cats need to be replaced - no big deal, upgraded aftermarket parts readily available, but they cost a pretty penny.

Do you have any other cars at your personal disposal? When I was at your age, in your shoes, I had only 1 car. In college, I started operating 2 cars. So, I'd have one fun car for summers only, and one daily driver for everything else. I guess if you like this idea and can convince your folks, maybe it's a good option.

Can you daily drive it? Yes - many people here and on FChat do just that. You mentioned a 10 year time line though, and I'm not so sure that you'll make that (so maybe it's not relevant). What if you go to school someplace where it's not practical to drive the Ferrari? Will you sell it? Won't you want to upgrade?

Just be careful man - you need to know how to handle the car as a daily driver - it's very different from a C63. In my case, I went through multiple M3's and an M5 before I stepped into my Ferrari. I've also spent countless hours training with the BMW M School, Skip Barber Racing, and the Mid Ohio School, among others. I don't want you to become a stastic.

The other thing to watch out for is gold diggers man. Yes, both of your parents are neurosurgeons. Chicks will learn that real quick. When they see you driving a Ferrari at your age and in your position, they'll go crazy, which maybe isn't a good thing sometimes. Plus, you may get a lot of hateful dudes - that'll suck.

Just some friendly advice from one well-to-do-Desi to another. I'm not saying don't get a 360, they're fantastic cars. All I'm saying is look at EVERY angle before you do buy one.

And yes, they're gonna be a lot more expensive to maintain than your AMG car...
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post #6 of 8 Old 07-11-2013, 04:14 PM Thread Starter
 
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Quote:
Originally Posted by IDriveM5 View Post
Haha, another Desi looking for a 360! I have a 2001 360 Spider F1

If FCI allows it, get a good thorough PPI from an independent third party. Pay particular attention to the clutch wear (if an F1 car) and the condition of the headers and cats. In my case, the clutch is solid but the headers and cats need to be replaced - no big deal, upgraded aftermarket parts readily available, but they cost a pretty penny.

Do you have any other cars at your personal disposal? When I was at your age, in your shoes, I had only 1 car. In college, I started operating 2 cars. So, I'd have one fun car for summers only, and one daily driver for everything else. I guess if you like this idea and can convince your folks, maybe it's a good option.

Can you daily drive it? Yes - many people here and on FChat do just that. You mentioned a 10 year time line though, and I'm not so sure that you'll make that (so maybe it's not relevant). What if you go to school someplace where it's not practical to drive the Ferrari? Will you sell it? Won't you want to upgrade?

Just be careful man - you need to know how to handle the car as a daily driver - it's very different from a C63. In my case, I went through multiple M3's and an M5 before I stepped into my Ferrari. I've also spent countless hours training with the BMW M School, Skip Barber Racing, and the Mid Ohio School, among others. I don't want you to become a stastic.

The other thing to watch out for is gold diggers man. Yes, both of your parents are neurosurgeons. Chicks will learn that real quick. When they see you driving a Ferrari at your age and in your position, they'll go crazy, which maybe isn't a good thing sometimes. Plus, you may get a lot of hateful dudes - that'll suck.

Just some friendly advice from one well-to-do-Desi to another. I'm not saying don't get a 360, they're fantastic cars. All I'm saying is look at EVERY angle before you do buy one.

And yes, they're gonna be a lot more expensive to maintain than your AMG car...
My dad has a suburban no one uses that I could use, but the only problem is that it's a HUGE SUV that I have a really hard time driving, Maybe I could learn how to drive it over summer, but even if I do, a suburban really doesn't fit my style. And yes, even with my AMG, I've had many experiences with gold diggers, especially when we towed it to our house in West Palm Beach when I went driving it around. But nice to see another Indian haha! And yeah I'm hoping to become a neurosurgeon too, and I bet that will make the situation even worse. And you don't think the 360 will run until like 2025 even if I get it fully serviced? If I was to only put like 10 miles a week on the 360 and the rest on the suburban (2011), do you think that would make it last?

Also - I've driven a Murcielago about 100 miles, and I think it's just as powerful if not more, so I think I should be able to maneuver the 360 (it might even be easier since the lambo is a mile wide).
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post #7 of 8 Old 07-14-2013, 02:49 PM Thread Starter
 
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Hey Guys, I really wanted to become a Ferrari Owner, but it's just really not the smart decision, especially at my age. I've decided that I'll invest the $20k into mostly mutual funds, and then hopefully I won't even have to worry about hidden expenses when I try to purchase one in the future.

- Arnav
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post #8 of 8 Old 07-17-2013, 08:33 PM
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Perhaps a smart idea. I would not go for super cheap 360s. They can get very expensive very quickly. Nice to see other young people with cars on the brain. Consider some other fast fun car.

Good luck in school!

Old enough to know better, young enough to do it anyway!
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