Depends on the car, not the price
There may be a nice 360 or two out there for that kind of money, but some skepticism is in order. Most of the time such a low price is reflected by the car itself, like poor maintenance or accident history. I would check such a car very carefully in hopes the cause is something less problematic like lack of options or a distressed seller or the common but unfounded fear of high miles. And yes there are plenty of nasty horror stories about the high cost of buying a cheap Ferrari.
"Fear of guns is a sure sign of retarded sexual and emotional maturity." -- Sigmund Freud, General Introduction to Psychoanalysis, 1906.