360 360 vs 430 - Ferrari Life
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post #1 of 21 Old 03-06-2013, 08:39 AM Thread Starter
 
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360 vs 430

I am new to the market and have noticed that the 360 seems to have hit the depreciation low. is that a fair assessment? I have also noticed that you can get a 430 for about 30k more, yet they have not hit the low. thoughts, ideas, comments all welcome.....GO!
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post #2 of 21 Old 03-06-2013, 09:02 AM
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I'm in your very comfortable shoes, or at least I used to be.

Preface: Ultimately, this is a personal decision, and comes down to the man doing the driving. Also, either choice will result in an epic car.

I would agree that 360 depreciation will be very minimal for the foreseeable future. I also agree that F430's have a little way to go down before they get flat like the 360.

For me, the price delta between the 360 and the F430 I want is less than $30k, more like $10-$15k. So, I'm going for the F430 for multiple reasons:
1. Was planning to get an F430 anyway, on the way to a 458 Spider. It's cheaper to get one of these cars instead of two.
2. Maintenance costs on the F430 tend to be lower, and over the course of my term, I'll come out ahead (theoretically).
3. The F430 is a reasonable enough advance / evolution over the 360 that the incremental cost increase is worth it to me.
4. My wife likes the F430 better than the 360. She'll be more likely to enjoy it with me, which is important to me.

There are probably other reasons. If your term is as short as I seem to recall (you were looking at a 1 year term) then you'll probably lose less money with a 360 than you will with an F430.

Again, it's a personal decision. Ideally, you would get some seat time behind both to help make your decision.

Most people say: "If you can afford the F430, get the F430 instead of the 360." There are some exceptions to this - it's not the rule, since it's a personal thing. Again, either way, you're in for a sweet ride.
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post #3 of 21 Old 03-06-2013, 09:58 AM
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Have you test driven both?

Someone has said before, buy the newest and best cared for model Ferrari you can afford, which includes maintainence costs, etc. (unless you like one certain model over another, due to looks, way it drives, etc, like me and the F355)

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post #4 of 21 Old 03-06-2013, 10:31 AM
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My assessment is that the 360 is near its full depreciation point, but not quite there yet. Within five years, I predict they'll settle out around $60-70K average.

The difference in maintenance costs are probably minor in the short run, even smaller when averaged out in the long term. No offense intended, but if the difference in price points being discussed affect their affordability, you probably can't afford either.

Therefore, I say buy the one you prefer.

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post #5 of 21 Old 03-06-2013, 11:22 AM Thread Starter
 
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Thanks for the insight. Affordability is not the issue the last car I purchased was $10000. I have a tendency to be a little frugal. I am planning to hang on to the 360 for 18-24 months and moving up to the 430, assuming the prices come down in terms of depreciation. What does the belt service on the 360 cost?
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post #6 of 21 Old 03-06-2013, 12:16 PM
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Quote:
Originally Posted by blbfor3 View Post
Thanks for the insight. Affordability is not the issue the last car I purchased was $10000. I have a tendency to be a little frugal. I am planning to hang on to the 360 for 18-24 months and moving up to the 430, assuming the prices come down in terms of depreciation. What does the belt service on the 360 cost?
Belt Service, a hotly debated item, usually occurs about every 3 years, and can cost about $3,000, if I recall correctly. Often times, there are other items which are replaced simply because they appear to be needed during the belt service. So, it's a service that can quickly build in cost, depending on the condition of various other elements of the car.

Good luck!

Did you say the last car you bought was $10,000 (ten thousand)? Just curious - not sure how that's relevant, unless it says that you've got a lot of money saved up for a car...
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post #7 of 21 Old 03-06-2013, 03:08 PM
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I don't understand the concept of buying a car for 18-24 months and moving up, if that is all you are going to have the car, just wait those 18-24 months.

But then again, I bought my FIAT 124 Spider new in 1974, sold it in 2007 to buy my S2000. My Singer I have owned since 1976 and my truck since 1999 which replaced a 76 truck that I also bought new. I can easily see keeping my 360 a very long time and my S2000 my daughter will likely inherit

Oh yeah, same with motorcycles which is my preferred transportation, average 15 years with each of them.

If you really are only keeping a car 18-24 months wait and get the 430, but the 360 is a long keeper.
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post #8 of 21 Old 03-06-2013, 03:53 PM
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Originally Posted by IDriveM5 View Post
Belt Service, a hotly debated item, usually occurs about every 3 years, and can cost about $3,000, if I recall correctly.
$2000-2500 is probably closer to the mark.

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post #9 of 21 Old 03-06-2013, 07:06 PM Thread Starter
 
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Good luck!

Did you say the last car you bought was $10,000 (ten thousand)? Just curious - not sure how that's relevant, unless it says that you've got a lot of money saved up for a car...[/QUOTE]

I did just pointing out that spending close to 100k for a car is new territory and just want to have all the details ironed out. I am going to drive both maybe this weekend and make my determination. Any good pointers on who to finance with?
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post #10 of 21 Old 03-07-2013, 05:32 AM
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Check out Pen Fed. I've read many success stories from their customers about being easy to work with and having great rates (1.74% now, I think). I do think they cap their lending at $70k per vehicle. So, if your purchase price is greater than that, you might have to buy it down in cash.

Good luck! Enjoy driving!
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post #11 of 21 Old 03-07-2013, 12:34 PM Thread Starter
 
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What do yall think about this:2001 360 yellow convertaible stick, 29910 miles, all services just completed including clutch. Priced at $79,000. The price seems a bit high. thoughts?
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post #12 of 21 Old 03-07-2013, 01:56 PM
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Quote:
Originally Posted by IDriveM5 View Post
Check out Pen Fed. I've read many success stories from their customers about being easy to work with and having great rates (1.74% now, I think). I do think they cap their lending at $70k per vehicle. So, if your purchase price is greater than that, you might have to buy it down in cash.

Good luck! Enjoy driving!
I wasn't even going to finance my 360 until I saw Penfed had 1.99% (I think it's lower now) for used cars. Only up to 70k but at that rate I decided to take their 70k at 1.99% and put my money elsewhere, They were fairly easy to deal with. I had no issues.
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post #13 of 21 Old 03-07-2013, 02:03 PM
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Originally Posted by blbfor3 View Post
What do yall think about this:2001 360 yellow convertaible stick, 29910 miles, all services just completed including clutch. Priced at $79,000. The price seems a bit high. thoughts?
Doesn't seem to be too high to me, really. There are obviously many other variables here such as options, history, and general condition other then recent services. Assuming the car is comparable to most on the market in these other areas this would actually look like a bargain to me for a Spider.
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post #14 of 21 Old 03-08-2013, 06:26 AM Thread Starter
 
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30k miles scares me a bit. how have the 360's been north of 30k miles?
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post #15 of 21 Old 03-08-2013, 08:33 AM
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60k miles and running STRONG here !
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post #16 of 21 Old 03-08-2013, 10:45 AM
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60k miles and running STRONG here !

Agreed - will hit 50k on my '00 360 F1 in next 6 months....only thing I will be doing before summer is up - is changing out the Clutch. Doesnt need it yet - but will soon Im sure.
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post #17 of 21 Old 03-08-2013, 01:02 PM
 
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Quote:
Originally Posted by kulferrari View Post
I wasn't even going to finance my 360 until I saw Penfed had 1.99% (I think it's lower now) for used cars. Only up to 70k but at that rate I decided to take their 70k at 1.99% and put my money elsewhere, They were fairly easy to deal with. I had no issues.

How did you get 1.99%? I called them yesteday and was told with perfect credit on a 360 it would be 6.9%. I told them no thanks.

Edit - sorry, my mistake. It was JJ Best that quoted 6.9%. I just confirmed Pen Fed is below 2%.

Last edited by speedsport; 03-08-2013 at 01:14 PM.
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post #18 of 21 Old 03-08-2013, 03:58 PM Thread Starter
 
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no big maint. issues on the 50k and 60K cars? Is that the first time you have to get a new clutch? you have a F1?
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post #19 of 21 Old 03-10-2013, 11:23 AM
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at 58K I had to do the front bushings, other than that, drive the thing and normal maintenance.
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post #20 of 21 Old 03-14-2013, 05:03 PM
 
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The 360/430 debate is a lively one, with good points on both sides. Check out the buyer's guides on this site - lots of good info. Personal choice decides which model look appeals to you more. Can't argue that the 430 is a more powerful machine, but as you'll see on many posts either car can cause you to lose your license pretty easily.

For me the 360 spider has all the performance I can handle, looks fine (to my eye, especially with the challenge rear grill) and is relatively easy to maintain. I did some research before buying mine and the best I can tell there were 1614 left hand drive 6 speed manual transmission spiders made during their entire run worldwide. I bought the best one I could find from a very high quality dealer - Steve Barney at Sport Auto - and for the first time in my life I now own a car without a single thought of buyer's remorse.

Take your time to decide which model works best for you, and find the best car you can. The difference in cost between the best and average isn't very large and to me it was easily worth it.

By the way, the latest issue of Forza lists the current market price for the 360 spider is higher now than it was 2 years ago. That doesn't mean that the 360 has hit "bottom", but it does suggest that all late model manual transmission cars are good values at the current market prices. Waiting to save $10-15K may work, but if you're looking for a manual transmission car I think that the better cars will be harder and harder to find in either model.

Have fun -

Last edited by lencap; 03-14-2013 at 05:14 PM.
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