Should I really do this?

2528 Views 13 Replies 8 Participants Last post by Slag_328GTS, Sep 10, 2003

paulnwgb

Discussion Starter · Aug 10, 2003

I've always dreamed of owning a Ferrari since I was 10 - 20 years on, and I now have the means to do so.

I'm not looking at a new one, I'm looking at a 1-2 year old 360 Spider F1. I spent all yesterday in a dealership (HR Owen, UK) looking all over it (not had a test drive yet though)

The problem is, now the time has come to make a decision and buy it, I'm getting second thoughts.

I don't know why I've come here - I guess I'm looking for someone to tell me "It's worth it".

I can't help thinking is it really worth the money - how much is it gonna cost me in tires? How many miles can I put on it a year? Do I have to be really careful to keep the residual up? Was the dealer being truthful when he said servicing over 3 years including belts would only be £4000? I normally drive a BMW M3 and I'm not expert at racing, I've never been on the track - is it a waste? Can I drive it for several hours without destroying my back? Is it true you can't hear the stereo when you've got the roof down?

The funny thing is my wife is all for it - thinks it's great - provided it's in silver, not red.

The one person whom I thought would be right behind me, my brother, is telling me I'm mad and I should get an Audi RS6 instead.

Now I'm just blabbering... how do you guys feel once you've handed over that £100k? Sick as a parrot? Any regrets? What's your day to day experiences in it? Do you constantly get hassled at lights by people wanting to race you? Worry about where you park it in case some low life has a bash at it?

God, I thought if I ever got the cash, this would be the easiest decision in the world. How wrong I was.

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ze_shark

· #2 · Aug 10, 2003

Reading UK press, I'd be lead to believe that attitude of the average bloke towards exotic cars is not always as respectful as it could or should be ...
I trust that this Modena would not be your only car, otherwise I'd think twice. Not sure an RS6 makes any sense either, especially in the UK. Perhaps in Germany ...

My opinion is that Ferraris are rather expensive crap, but I've never regretted my purchase and every drive, every glance, is still a special moment.
All the discussions about running cost are irrelevant if you have the cash to buy the car. Cheap, certainly not, affordable, yes.

You only live once, you'd probably regret not making the jump. At least you'll know if it was worth it for you.

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250lm

· #3 · Aug 10, 2003

I think when you get seconds thoughts, you always will think 'what happened if I...". Shouldn't it be better to start with a cheaper Ferrari (355 spider/348 spider/328 GTS) to see what it is worth to you? If you still thinkit is worth it, then go for another Ferrari later, if not, you still have some of your money left!

Niels

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ForzaRossa

· #4 · Aug 10, 2003

I'm with Niels (250LM) When you have these doubts you will never enjoy the car as much as you would like. And a nice secondhand 355 or 348 is, ofcourse, also something most people would only dream from :green:
Me myself would even try to start with an even 'cheaper' Ferrari, like a 308GT4 or a Mondial. I just love those two!! Really drivable and not so expensive that you don't know were your money goes...but hey...it's your money, and if you really want a 360...then...GO FOR IT (and let us drive with you some time :green: :green: )

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justynb

· #5 · Aug 11, 2003

Hi Paul,

welcome to the site.

I have a 1994 348 Spider which is my first Ferrari and which I bought a couple of months ago.

I paid £38k and believe if I wanted to sell it now and held on for the right buyer I would get over £40k. I don't know how the 360 depreciates.

I just had an annual service at Graypaul in Leicester. I think the quote was £600 but once they had the car in they found some other bits and the final bill was about £1,000.

I will be getting the wheels reconditioned soon (£300) plus new wheel nuts at £20 each due to rust (£400 for all four wheels) plus the rear brake discs will need changing soon (can't remember how much they were now!)

Next year the cambelt service is due (every 3 years) so I reckon the service could be £2,000 or maybe £3,000 if they find other stuff that needs doing.

Graypaul recently had a 348 in where the cambelts had broken and it was costing £16,000 to fix the engine. Servicing can be affordable but you also need to prepare yourself for a potentially large bill as things can break. A Ferrari is a supercar and you need to be prepared to have supercar sized pockets if you intend to run one.

My car is a second car and draws a lot of attention even though it is 10 years old. I am always extremely cautious about where I park it. Its a sad fact of life that in the UK certain people will scratch your car due to jealousy rather than admire it and respect the hard work you put in to earning the cash to buy it.

So my advice to you? Buy one as a second car, treat it with respect and drive it as often as possible. If you are unsure about spending £100k on a car why not spend £50k -ish and get a 355 which some people say is the best Ferrari to drive? You can always trade up at a later date if you want to.

Good luck and keep us posted!

Justyn.

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paulnwgb

Discussion Starter · #6 · Aug 11, 2003

Thanks guys - I think I will take use some of that advise - I'm going to for a 3/4 year old Modena F1 (not Spider), damn sight cheaper.

There are some right ****** in London, every single car I've ever owned has always been keyed within 2 months of owning it.

It will be a 2nd car (especially as I found out I was going to be a father last week)!

Was thinking of entering Cannonball 3000 with it if I pick it up in time. Anyone here going?

Hey Justyn - does your 348 have any problems with our speed bumps? I know they vary in size, but in general? I live in SE London, loads of them :-(

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justynb

· #7 · Aug 11, 2003

Hi Paul,

one area with the 360 which I hear can be problematic is the F1 gearchange (if fitted to your car). I've heard it can be troublesome and expensive to fix - especially if you are going for a 3 year old car which I assume would be out of warranty.

Congrats on your other impending new arrival but be careful! The car I bought was for sale because the owner had no time to use it after having 3 baby boys in 4 years. I told him if he had driven the car more often he wouldn't have been in that pickle now

Cannonball 3000 has been and gone I have some video clips of it, unless there is a British version that is yet to come? In one of the clips I have there is an English guy with a brand new 360 Spider (1 week old) and the front spoiler is down to the bare metal and the windscreen smashed, all due to high speed stonechips, so if you are considering doing a Cannonball run then budget on a paint job at least afterwards.

It's very rare I go over any speed bumps but if I do I take it VERY slowly. I live in Derbyshire so its rare to come across them around here plus I don't tend to drive on "those" sorts of roads with it anyway.

BTW I'm in the dot-com business too!

Justyn.

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paulnwgb

Discussion Starter · #8 · Aug 11, 2003

Hrmm.. interesting about the F1 - living in London, there's an awful amount of stop-start traffic - I miss most of it because I work silly hours purely to avoid it, but it is a pain, and I don't think I could manage the Blackwall Tunnel at rush hour in it! Not that I'm planning to commute in the 360 - maybe once or twice a week tops. Think I'll end up moving up North a bit to get to the twisties!

There's no speed bumps on my road yet, I can get out onto the A2 without hitting one - but most of the places I tend to go, have at least one - I'll have to be careful with that...

Yeah, Cannonball 3000 - think you're on about the Gumball 3000 - it's the 19/20/21st September - London > Paris > Monte Carlo - check out http://www.cannonball3000.com

Cheers
Paul

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justynb

· #9 · Aug 11, 2003

Hi Paul,

I got my Gumball & Cannonball mixed up :-?

I've got some good video clips of the Gumball, I would offer to send you one but its 400Mb. You can find them on Kazaa though.

Good luck with the car, make sure you post some pictures on here if you decide to go for it.

Justyn.

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paulnwgb

Discussion Starter · #10 · Aug 11, 2003

Well, it's not mine yet, but I think it's gonna be this one - unless someone else snaps it up before I get to it!

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ForzaRossa

· #11 · Aug 12, 2003

Very nice car indeed. Do envy you

But it's nice to read (and see) an 'almost owner' and his doubts...never get second doubts...now just go for it!! :green:

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tangun

· #12 · Aug 19, 2003

do it. I can't wait until I can. I'm about 2 years away and the seconds are not flying by fast enough.

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Stradale

· #13 · Sep 10, 2003

I'm new here. So I just saw this post today. If it's not too late, you should get it Paul. It's a beautiful car. If you don't then you will always regret not living your dream whrn you had the chance.

I have a red 360 F1 which I bought new in 2000. I just sent it in to have the cam belt changed and it is not expensive, compared to my former F3555 which cost almost double to have the cam belt changed. The difference is the F355 has to have the engine "dropped" before the cam belt can be changed, whereas with the 360, the cam belt can be reached from the back panel between the cabin and the engine bay. The mechanics only have to remove the seats first before getting to the cam belt cover. So imagine the man hours saved.

Check with HR Owen whether you can extend the warranty. Sometimes you can with a fee and you may want to consider this. My car has no problems at all, and I alwyas take it in for a check-up before a track day and send it in again after, so that they bleed the brakes and top up the brake fluid. I changed the pads only once in 3 years. So don't let others frighten you with the cost of maintanance.

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