2011 California owner new to site - Ferrari Life
 
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post #1 of 9 Old 10-10-2015, 01:14 PM Thread Starter
 
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2011 California owner new to site

Hello everyone. I'm a 2011 California owner that's new to the site. I have a host of questions to ask soon and thought this would be a great site for opinions / advice. My mechanical knowledge is non-existent, but I truly appreciate the beauty and drive of the Ferraris.

I've currently had mine for a year and owned a 2000 360 for half a year prior to that. Although I love my California, I miss the 360 and the "truer" Ferrari look that it had. I'm seriously considering trading the California for either a manual 360 Spider or F430 Spider. My biggest obstacle right now is I paid $147k for the California and only getting about $110k back on a trade. I just can't get past losing $37k in one year on the California. I'm assuming it's more that I overpaid for the CA than depreciation.

So my options are keeping the CA which I enjoy but don't love or taking the massive hit on the trade.

Thoughts?
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post #2 of 9 Old 10-10-2015, 01:44 PM
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RB,
Welcome to the forum, you've definitely come to the right place.
I have a a manual 360 Spider and have driven both the 430 and the Calif. - and in short, I wouldn't trade the spider for the world.
The 430 and the Calif are both lovely cars and I'd be happy to own either one of them. But the 360 just "spoke" to me.
I'll let others address the depreciation issue, but you have to know going in that any modern Ferrari will probably lose value during your ownership. As they say, ours is a pay-to-play sport.
My ultimate advice is get the one you love.

Of all the narcissists I know, I love me the most.
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post #3 of 9 Old 10-10-2015, 03:41 PM
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Welcome to Flife! I also have a manual 360, great car. A buddy of mine in Annapolis has a 2003 Red/tan 360 manual spider for sale, carbon fiber interior. Sharp looking car. PM me and I'll send you his email. Car is priced below $100,000.
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post #4 of 9 Old 10-11-2015, 07:39 AM
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Welcome to Ferrari Life. The hit you took in resale is no different from what you would see with a high end Mercedes or BMW. Especially when you consider trade-in value is a wholesale price compared to the retail price you originally paid. Trade-in/wholesale is 10-15% below retail in most cases, so that is a good chunk of your loss.

Selling a Ferrari yourself is a pain, usually, because of all the flakes out there, but it will bring in more money.

Taz
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post #5 of 9 Old 10-12-2015, 06:43 PM
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Welcome

Terry is right selling a Ferrari isn't easy but it's worth a shot to toss it on e-bay.

I have sold two and all went well - any pictures miles etc.
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post #6 of 9 Old 10-21-2015, 03:02 PM Thread Starter
 
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Thanks for the feedback. I'm going to try and sell the CA, while patiently looking for a 360 Spider, red exterior, black interior, 3 pedal, and low mileage. I think finding the car may be more difficult than selling mine unfortunately.
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post #7 of 9 Old 10-21-2015, 03:24 PM
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Quote:
Originally Posted by RBinMiami View Post
patiently looking for a 360 Spider, red exterior, black interior, 3 pedal, and low mileage. I think finding the car may be more difficult ....
Indeed. My list was just as specific and it took me just shy of 12 months to find my Spider back in 2010. Although there are plenty of 360s currently on the market, I'm sure the same search would be harder today. My advice is just be patient and be ready to look at and pass on several cars.

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post #8 of 9 Old 10-21-2015, 11:34 PM
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The plain fact is that you have already lost $37K (or perhaps "spent" would be a better word - after all you have had a year's Ferrari ownership for that). Hanging on to the car won't change anything, except for the worse - this time next year it will be worth even less.

If you don't like losing money on a car, then buy something a bit older, with 2 seats and a V12 up front - my 550 has almost tripled in value in the 3 years I have owned it. My guess is that a 360 is unlikely to lose you much money, though it may be a while before you start to see its value rise.

But at the end of the day, you should buy the car you want to own. If it appreciates in value, that is a bonus and if it depreciates that is just part of the cost of owning something wonderful.

Best wishes, John
Ferrari: 550 Maranello S/N 110995, Dino 246 GT S/N 6934
Other: 1990 Bentley Turbo R, 1989 Porsche 911 C2, 2004 Mercedes 500CLK, 2011 Mercedes E350 CDI, 1972 VW T2 Camper, 2014 Fiat 500C, 1963 Jaguar E-type 3.8 FHC, 2015 Maserati Granturismo Sport
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post #9 of 9 Old 10-23-2015, 12:15 AM
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Take the hit now. It will only get bigger.


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