360 Just bought my FIRST Ferrari! - Ferrari Life
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post #1 of 54 Old 04-22-2013, 09:56 AM Thread Starter
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Join Date: Jun 2012
Location: Ohio
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Just bought my FIRST Ferrari!

Hey Fellas,

Finally, after about 1 year of searching, I'm off the sidelines and in the game! This weekend, I purchased a 2001 360 Spider F1 with the exact matching specs on my list of "must haves."

On Friday of last week, I conducted a thorough PPI in the service bay with the head mechanic (Dan) at MAG Ferrari in Columbus, OH. The car came back as a "buy" recommendation, with the caveat of negotiating the right price. Over the weekend, we negotiated the deal and are closing this week!! I'm so thrilled, excited, and blessed.

The PPI revealed no MAJOR IMMEDIATE issues, though there are some things on the horizon. Namely, the convertible top is slightly out of alignment (there is a narrow gap between the pass. window and the top), the headers are starting to blow fiberglass back onto the engine block, and there is minor seepage possibly from a cam seal or cam cover. Also, the pads and rotors need to be replaced. Other than that, the "bad" stuff is really trivial and stupid: rims are in poor condition (but I'm planning to upgrade to F430 split 5-spoke rims), it needs a Challenge rear grille because I want one, no car or seat covers, only 1 key & fob, most tools are missing, alarm siren needs replaced, chin rash, recondition the seats, fix an air vent an a mesh air diffuser. I have a lot of plans for this car that I will space over time.

My car has 19,500 miles (so basically it's a 20,000 mile car), factory Scuderia shields, Power Seats, Daytona style seat trim, obviously Rosso Corsa / Beige, and a host of other upgrades including:
Upgraded stereo with NAV, Bluetooth, SIRIUS, and backup camera
Fabspeed Exhaust silencer
2004 TCU (non-CS TCU)
Excellent Service Records (recent clutch AND belts!)
New Fuel Pumps
New upgraded F1 pump and relay
All campaigns are up to date.

It has been repainted WELL in two separate areas: nose (common) and driver's rear quarter panel. We checked with measurements.

Significantly, this car is "local" to me, meaning it has been living about 75 miles from my home for the past 2 years. It originally was sold at F of Ft. Lauderdale, and spent its first 10 years in Ft. Lauderdale and Palm Beach Gardens. Clean Carfax and Autocheck - I'm 5th owner. Again, excellent service history. So, since this car was "local," I've been able to drive and see it twice (once for PPI) and I don't have to pay to fly to see it or ship it back. Many cars I'm looking at are either in Florida or Texas. Some even in SoCal. So, saved big money in transport and shipping. Also, since the most recent work was done "locally," I know the mechanic too!

I'm sure I've missed something, but that's the story. The PPI was good, the car is about 7.5 out of 10, but she can easily be brought up to 9 out of 10 with a few wise investments.

Before I bring her home, she's going to NJB Automotive in Columbus to have select items corrected, and then over to Todd at Esoteric (big thanks to Todd for coming to the PPI) to clean up and look pretty. Then, she'll make the trip South to take residence in my garage in Southern Ohio.

This waiting process is agonizing...

Welcome your feedback! Thanks fellas!

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post #2 of 54 Old 04-22-2013, 10:14 AM
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Congratulations, Raj! I know you have been eagerly searching for your first F car and you have found indeed a beauty! Enjoy her in good health...


Quit work - Get some stuff - Go somewhere - Have some fun
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post #3 of 54 Old 04-22-2013, 10:43 AM
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Congratulations Raj, lovely car with a nice spec and enough room to add your own mark with upgrades, well done.


Current Fcars: 360 Modena
Gone but not forgotten: 360 Spider, 575M, F430.
Other stuff: '71 Holden GTS Monaro, '80 BMW Alpina B9, '74 Porsche Targa, Caterham, MB CL500, Land Rover Discovery.
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post #4 of 54 Old 04-22-2013, 11:04 AM
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Make sure you get those precats removed ASAP.
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post #5 of 54 Old 04-22-2013, 11:23 AM Thread Starter
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Thanks for the kind words and the advice fellas!
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post #6 of 54 Old 04-22-2013, 12:55 PM
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Raj- Very pretty car. If you have the PIN for your alarm system, I may be able to help you on the fobs. You have a lot of goodies from recent service so that is really good news. Bet you have already downloaded a Spider workshop manual from ferraridatabase.com.

Keep us informed as you work through the improvements you want to make. A 2002 360 or a CS TCU is another worthwhile improvement. We have friends who know how to do that inexpensively, too.

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 #7 of 54 Old 04-22-2013, 01:13 PM
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Congrats Raj Your new baby looks like bright new! The horrible waiting will be soon over and I wish you to enjoy her many miles
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post #8 of 54 Old 04-22-2013, 01:41 PM
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Congrats Raj. Beautiful 360.
The agonising wait will soon turn into an amazing delivery!
Drive in good health.

Ferrari's: 360 Modena, 550 Maranello
Ex's: Dino 308 GT4, 612 Scaglietti
The Rest: Rolls Royce Silver Shadow, Porsche 911 2.7s, Porsche 911 3.2 Carerra, Ducati 916... and the Land Rovers
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post #9 of 54 Old 04-22-2013, 02:51 PM
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I am ecstatic for you. Especially those who watched your search and waited to see you realize the dream.
Your car looks Amazing!. A proper Fcar.....
Another example of a PPI showing the actual value and allowing an intelligent valaution so you and the seller feel the transaction was fair.

Enjoy and tell us about your impressions when you have taken possession

Drive it well my friend.


I have regretted often, but repented never. Is this a good thing? -Enzo Ferrari
2012 California Argento Nurburgring /Nero 2005 F430 Nero 6spd. 2009 Maserati GT-S F1
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post #10 of 54 Old 04-22-2013, 04:25 PM Thread Starter
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Thanks again gentlemen. I'm so taken by this warm and heartfelt reception! Especially since you fellas know my history and have a general idea about my hunt.

I think the value of the PPI was simple - we are able to go into the car with our eyes wide open. We know what's coming up, and what has already been done. This way, I can space out the "upgrades" in a manner that still leaves plenty of reserves in the maintenance fund. I tallied up the maintenance expenses over the past ~2 years from the receipts: $20,000. POW!!! At least it's not my $20k, and you better believe I wasn't giving anything away during the negotiation for that money either!

Unfortunately, I don't have the alarm PIN - so if I ever lose the one fob, I'm going to need a new alarm system. Fun. Am I to assume the fob can't be cloned by GOBBLE without the PIN? I'm going to contact the original owner, and also go through the "food chain" of the service centers listed in the history. Who knows, maybe someone has it on file...

With regard to the TCU, it has already been upgraded to the 2004 version of the TCU, according to the Ferrari mechanic. So, I'm going to hold off on the CS TCU upgrade for a little while. Terry, your advice when I started looking was to DRIVE the car with the current TCU (whatever that version may be) before jumping into the upgraded TCU pool. I have to confess I'm fine with the operation for the moment. But, that can change. All I'm saying is that the TCU upgrade isn't on the "short list" right now.

Thanks again gentlemen - I always hoped I'd be able to post a thread like this one!

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post #11 of 54 Old 04-22-2013, 04:45 PM
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Many congrats! that 360 is beautiful, please let us know your driving impressions.

like everyone said, the wait will be worth it the first time you jump in and turn the keys (if any comfort I waited THREE weeks for my F355, i didn't think i would make it lol!)

+1 for the spider

Maserati GranTurismo MC - Giallo yellow
Porsche 911 GT3 RS - black with orange accents - wife's car
F355 Berlinetta - Giallo Modena, 6-speed manual, carbon sport seats -recently traded in
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post #12 of 54 Old 04-22-2013, 05:07 PM
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Huge Congrats! I really hope you love it!

F430, 458 Challenge, Ford GT, Gallardo, C63 Black,
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post #13 of 54 Old 04-22-2013, 06:16 PM
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You deserve it
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post #14 of 54 Old 04-22-2013, 06:36 PM
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Congrat's Raj. A great looking 360 and Esoteric is a fantastic choice. Enjoy the ride when she gets delivered; the season is all too short in our regions.

Ferrari: 2001 360 Modena Coupe
Other: 2004 C5 Coupe
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post #15 of 54 Old 04-22-2013, 08:05 PM
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I'm so glad you found the right F car for you. It was truly meant to be when you consider how close to home you found this one! I cant wait to see more ptrs and your take when she finally gets home. Cheers buddy!

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post #16 of 54 Old 04-22-2013, 08:16 PM
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I got my first Ferrari back in September ... also a 360. A Modena though, not a Spider. I put in a new exhaust (a used 430 exhaust as is close to a 360 racing style exhaust) that gives the more sound ... very happy with that. I also just completed upgrading the audio system. I think you will enjoy making the upgrades you are planning.

Nice looking car (but I am biased). Good luck and welcome to Ferrari Life.

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post #17 of 54 Old 04-22-2013, 09:05 PM
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Congrats, it is a great looking car.

It is time to change your username to "Idrive360"
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post #18 of 54 Old 04-22-2013, 10:21 PM
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Raj, congrats on a great first Fcar. Nice combo!
Enjoy her in good health.


Italian bella's:
550 Maranello 7-2000 nero/nero
1974 Ducati 750 Yellow Sport
1974 Ducati 350 Desmo Yellow Sport
2010 Ducati Multistrada 1200S
(And a few Alfa Romeo's and Range Rovers)

Power is nothing without control
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post #19 of 54 Old 04-22-2013, 10:24 PM
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Excellent! She looks very good.


Never pay again for live sex! | Hot girls doing naughty stuff for free! | Chat for free!

Future: No idea
Present: 458 Italia, 550 Maranello
Past: 365BB x 2,
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post #20 of 54 Old 04-23-2013, 12:43 AM
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Superrrr! Being the first is a great enjoyment! Have fun.

Current:F12, F40 , F50 , Enzo , Mclaren P1
Past: 348 spider ,F430, Dino 246 GTS
Waiting: Ghost 2016.
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