Newbie Looking at a 360 Spider - Ferrari Life
 
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post #1 of 10 Old 12-17-2013, 05:28 AM Thread Starter
 
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Newbie Looking at a 360 Spider

Hello Folks. I've been reading through the threads on this forum, but thought perhaps I could tap into the knowledge base of the esteemed members here.
I currently drive an '83 Porsche 911sc (my 2d 911) and put 3-4,000 miles/year on it. The mountain roads out here in Idaho provide amazing terrain for sports car enthusiasts!
I've been thinking of an Italian exotic for some time now, with a Ferrari at the top of the list.
There is currently available in Boise (where I live) a 2002 360 spider with about 5,700 miles on the odometer. The CarFax report looks good. The car came out of Richardson and Plano, TX, then went to Las Vegas in 2007, and just recently came to Boise.
VIN # FFYT53A920129239

I gather that the 360 may be easier to maintain than earlier models, but not as easy as the 430?

What questions should I be asking? I've asked for all service records and ownership history, but the dealer isn't sure it can get that info/documentation.

My real concern is PPI, and maintenance if I buy the car. Is anyone aware of a qualified mechanic near me?

Lastly, the dealer wants $119,000 for the car, which seems not just steep, but very aggressive. What would be a fair price?

And what maintenance do I need to be sure is up to date? I assume belts and fluids? I'm a complete incompetent when it comes to things mechanical, so as noted, finding someone to do the inspection is going to be my main concern.

Thanks to all who help.

Here's the ad for the car
2002 360 Coupe 2DR CONVERTIBLE SPIDER 5,630 miles low mileage
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Last edited by 7thSon; 12-17-2013 at 08:43 AM.
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post #2 of 10 Old 12-17-2013, 06:54 AM
 
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I also went from a 911 to a 360. I have never regretted it, although I wish I had kept the 911.

The 360 is a great first Ferrari. Mine has been very reliable, although it is true that, when things break, they are expensive to fix. The key thing to find out is when the timing belts were changed. Ferrari says every three years, regardless of mileage, so if that hasn't been done recently you are looking at an immediate $2-$3K job depending on where you have it done. You also really need to have an experienced Ferrari mechanic do the PPI. In tems of maintenance, the need for belt changes every few years is the big difference between the 360 and 430 (the latter has chains that don't need to be changed).

The asking price on that particular car strikes me as extremely aggressive. Just looking at the car, it doesn't have the front fender shields that many people (not all) consider essential. They are formed into the fender, so it is not a matter of just putting on a sticker. The one thing that pushes the price up may be the low miles. But I'm not sure that is a benefit that is worth paying for in your position. First, as you will see, a lot of people here contend that cars that sit around rather than being driven regularly develop problems. Second, particularly if you are plannng to drive the car, I don't think it makes sense to spend extra money for a low-mileage example. For Ferraris, the market seems to divide roughly into low (sub 10K) and high (over 10K) components,whether or not that really makes sense. If I were you, and I was planning to drive the car, I would save the money and look for one that had been driven over 10K miles rather than paying a premium for a low mileage car that would quickly be lost once I started enjoying the car.

Good luck with your search.
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post #3 of 10 Old 12-17-2013, 06:56 AM
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Good color combo, good choice for you!

2002 is an older model year for the spider (I have a 2001 myself). Records are very important, specifically, all the most recent services within the past 3 years.

The pricing seems crazy - you can get an F430 for that money. Don't get sold on the low miles - these cars thrive with miles (mine had 19,500 when I bought it in April, and I put 2,500 miles on it in my first partial year with it before storing it for the winter). Save your hard earned money and buy a car with a good service history, good condition, and higher mileage. You'll be happier that way!
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post #4 of 10 Old 12-17-2013, 08:34 AM Thread Starter
 
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Thank you

I very much appreciate the input.
I tend to buy and hold cars. I bought a new BMW 740iL and drove it for 13 years before recently buying a 535xi (M Sport package). I drove a '71 911T for 8 years before buying my current '83 911sc 10 years ago.
The point being that I'm looking for a car for long term ownership; one that I can drive and enjoy.
So your advice silverf360 to look for a car with a better price and higher miles makes sense to me. I want to be able to drive any car I own. I would anticipate putting 3-5,000 miles/year on a Ferrari.
While I can afford a Ferrari and it's maintenance costs, I'm financially conservative and it would drive me crazy to have a car that needs a $10,000 service every 15,000 miles, so any advice that would steer me clear of that kind of a Ferrari would be appreciated.
I suppose my real concern is finding a qualified mechanic to tend to my car. I've been lucky in that regard with my Porsches as the same local Porsche guru has been maintaining my Porsches for the last 18 years or so. If I can't find a Ferrari guru within a reasonable distance of Boise I'll probably pass on buying a Ferrari, though I would consider Portland, Seattle and SLC mechanics as they are all within an easy day's drive of me. Still, I think a PPI is essential on this kind of a car, and I'm not sure how to solve that issue.
There is apparently another Ferrari for sale locally, a 1992 Testarosa with 15,000 miles- $75,000. From my limited knowledge am I correct that I wouldn't want a Testarosa because of its high service costs?
I have always loved the look of the Testarosas.
What is the reliability of a well sorted 360 vs a well sorted Testarosa?
Here's the ad for the Testarosa:
1992 Ferrari Testarossa for sale in Boise - ZFFLG40A2N0092164 - Bronco Motors
On the Testarosa what maintenance must I be sure has been done (just as I need to be sure the belts are current on the 360)?
Silverf360- why did you wish you'd kept your 911, if you don't mind me asking. I really love my 911, and in a way, it'd be hard to let it go. It's inexpensive to maintain, it's bullet proof, and it's a work of art to me. Pic attached.
Again, thank you for your sage input.
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Last edited by 7thSon; 12-17-2013 at 08:50 AM.
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post #5 of 10 Old 12-17-2013, 05:06 PM
 
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I think the Testarossa is in a totally different world from the F360 in terms of maintenance expense. My understanding (and I'm sure I will be corrected if I am wrong) is that the TR requires an engine out belt service every three years (some say less frequently, but periodically if you don't want the engine to destroy itself via a broken timing belt). Incidentally, the mid-engine V8s before the 360 (328, 348, 355) were the same. In the 360, the big improvement is that the belts can be changed with the engine in the car, turning a $10K job into a $2-3K job. So, while any Ferrari owner who doesn't work on his own car needs to be aware of the possibility of a $10K repair when something major breaks, they are not routine (unlike the TR). I have never had anything approaching that. For someone who is fiscally conservative but still wants a Ferrari, I think the 360 is ideal.


I had a 93 C2 Cab for 15 years. The two cars are about as different as they could be. The C2 had a great, very direct and mechanical feel. And, it was probably close to fully depreciated, so I could have kept it at little cost other than maintenance. In contrast, the 360 feels like a modern car, albeit with a few minor but annoying eccentricities. But the sound is unbelievable, I love looking at it (especially the engine through the glass) and every drive feels like an event. Notwithstanding my own fiscal conservatism, I have never regretted buying it.
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post #6 of 10 Old 12-18-2013, 05:07 AM
 
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Quote:
Originally Posted by 7thSon View Post
Hello Folks. I've been reading through the threads on this forum, but thought perhaps I could tap into the knowledge base of the esteemed members here.
I currently drive an '83 Porsche 911sc (my 2d 911) and put 3-4,000 miles/year on it. The mountain roads out here in Idaho provide amazing terrain for sports car enthusiasts!
I've been thinking of an Italian exotic for some time now, with a Ferrari at the top of the list.
There is currently available in Boise (where I live) a 2002 360 spider with about 5,700 miles on the odometer. The CarFax report looks good. The car came out of Richardson and Plano, TX, then went to Las Vegas in 2007, and just recently came to Boise.
VIN # FFYT53A920129239

I gather that the 360 may be easier to maintain than earlier models, but not as easy as the 430?

What questions should I be asking? I've asked for all service records and ownership history, but the dealer isn't sure it can get that info/documentation.

My real concern is PPI, and maintenance if I buy the car. Is anyone aware of a qualified mechanic near me?

Lastly, the dealer wants $119,000 for the car, which seems not just steep, but very aggressive. What would be a fair price?

And what maintenance do I need to be sure is up to date? I assume belts and fluids? I'm a complete incompetent when it comes to things mechanical, so as noted, finding someone to do the inspection is going to be my main concern.

Thanks to all who help.

Here's the ad for the car
2002 360 Coupe 2DR CONVERTIBLE SPIDER 5,630 miles low mileage
Hello and welcome to Ferrari Life. I'm not a experienced as the others here but the price you mentioned is a very big number compared to the real price of this car. Then it is the mileage. This car has past it's life sitting in a garage which isn't good as far as i know. My personal opinion is to take a look a other 360s with about 3-5k miles for every year of their "life". As a mechanic i know says this mileage is perfect for both you to enjoy the car and for the engine to be in perfect working condition. Then it comes up to the ordinary,letting the engine idle for a minute before driving of and for a minute before turning it off, letting her warm up properly and so on. But if you can afford to spend that kind of money find and test drive an F430 Spider before buying a 360. The F430 is in a very different league. She is more beutiful ( but this depends more on everyones taste ) ,faster,more reliable and nobelt changes needed. In my eyes she is the perfect car and i hope one day i can proudly call myself an F430 owner despite the fact that everyones tell me to become more serious, till then i keep dreaming. Have a nice day and i wish you to find the perfect "toy" , Alex.
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post #7 of 10 Old 12-18-2013, 01:41 PM
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Welcome to Ferrari Life. First question I would ask is who is going to maintain your Ferrari? Is there a good independent Ferrari mechanic in Boise?

See you asked that question, too. If not, you could end up putting her on a flatbed to Portland or Salt Lake City for a belt change every three years.

Most owners do TR belt changes every 5 years, even though Ferrari theoretically recommends 3. Engine out. If the welded rear end carrier busts, you could be out a substantial sum. Billet carrier is ~$3K plus labor if you replace it before it breaks.

Solve that technician issue first.

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.
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post #8 of 10 Old 12-19-2013, 03:18 AM Thread Starter
 
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Great Info

Thanks again to all who responded. All very helpful. My learning curve is quite steep, mostly because of how little I know.
Re: the Testarosa- I'm 6' 2" and my head bounces off the headliner. Too bad, because I do like the look of the Testarosa. At the same time, I'm coming to the conclusion that a 360 or a 430 is probably more appropriate for me.
I love the look of the 360 referenced in my original post, but the dealer is impossible to work with. They apparently have access to the service records (it is the dealership's owner's personal car), but the salesman doesn't want to make the owner 'jump through the hoops' of getting a copy of the records unless and until we agree on a price for the car. While the dealer says the deal could be contingent on me finding the service history acceptable, I refuse to even discuss this further with the dealer. It's ridiculous to me that I'm supposed to negotiate a deal on the car without information that is essential to the negotiations.
That, and the fact that at $119K the dealer is looking for a price that might be more appropriate for a 430, have completely turned me off to that deal.
So I'm on the hunt for a 360 or 430 with 3-5,000 miles/year on the odometer. Though my search is tempered by the technician issue here in Boise- so let me know if you are aware of a qualified mechanic in this area.
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post #9 of 10 Old 12-19-2013, 06:08 PM
 
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My guess is there won't be too many cars with 3-5K per year on the odometer. I do think you would be wise to look for a car with 10/15/20/25K total miles, depending on the year, rather than an overpriced car with fewer miles. Good luck with your search and with finding a good mechanic. That makes a big difference. In the meantime, enjoy your 911.
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post #10 of 10 Old 12-20-2013, 08:54 AM
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Quote:
Originally Posted by 7thSon View Post
Thanks again to all who responded. All very helpful. My learning curve is quite steep, mostly because of how little I know.
Re: the Testarosa- I'm 6' 2" and my head bounces off the headliner. Too bad, because I do like the look of the Testarosa. At the same time, I'm coming to the conclusion that a 360 or a 430 is probably more
So I'm on the hunt for a 360 or 430 with 3-5,000 miles/year on the odometer. Though my search is tempered by the technician issue here in Boise- so let me know if you are aware of a qualified mechanic in this area.
Word of advice - you need sport seats or you will be looking at the visor even more so in the 360.

I am 6 2 and it helped me justify a 16M or in your case a scud that has much lower seats.

Some people remove part of the seat cushion but I think the Sport seats are the best way to go - best of luck.

FF 16M Speciale
Lamborghini SV Roadster
Carrera GT GT3RS Viper ACR
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