Sketchy 360 Spider or Market Correct at 61K

From the labels on one of the pictures, it's a former rental. It's also a Euro spec car that has been converted/imported, which typically dimiinishes value. And it's a 1999, which further diminishes value.

Top appears to have some holes and likely needs to be replaced. Transmission mount seems like it should have been replaced when they replaced the clutch if that was just 2 months ago. Sounds sketchy. The push button starter is also just bizarre but likely because it was a rental.

The seller has a lot of feedback and all positive, but I would say the price is probably about market correct. It had trouble selling years ago too. Check out the following:

http://www.ferrarichat.com/forum/360-430/17641-good-buy.html

You should also look back for the car that Fchat member "fill-up" had. it was nearly identical and was also a former rental. Sold last year for something like $62k at auction and has since been totalled.

 

99 Spider?
Thought Euro Spiders started in 2000 and 2001 for NA.
Don't think I have seen a 99 spider

 

And not a single photo of the interior that I was able to spot. Very weird.

 

I also noticed that it had a Stradale bumber in the 'Action' photos and regular 360 in the stills....Hmmmm

 

I would stay away - well away. It is most certainly a rental car. I think it's still being used that way because the seller says something to the affect of miles may be more than listed because we drive the car, or similar.

If you can't afford to buy a good Ferrari, you surely can't afford to buy a bad one!

Save your money and time - no, this is not a good car / good deal. Advise your friend to stay away. Unless, of course, he's also planning to rent it out!!!

 

I've been watching this car. I haven't had a chance to go look at it in person yet. I have talked to someone that's seen the car and told me it was "very rough" and used.
If it's titled as a 1999 there could be even more going on here like a questionable Fed conversion.

 

This is one of the better quotes I've heard on F-Chat!

 

IIRC the interior had all the aluminum painted "ferrari red". The seat bolster was waaaaaay worn as well. Mechanically though I don't know what condition it's in.

For the mechanically inclined DIYer it could be a decent buy... or it could be an expensive, expensive proposition...

 

Old timers here know me, I have no problems buying high mileage Ferraris and no problem buying well used Ferraris but I would not touch a ex-rental Ferrari for less then HALF, I would not consider that car for anything above $40-45k. I have seen how exotic rentals get abused, no thank you, you have to plan on rebuilding the motor soon, you may get lucky and not need it but you have to budget for it in a rental.

Mechanically the car "may" be fine and if you don't mind the cosmetics could be a great daily driver but its safe to say it was mechanically abused by renters and then mechanically abused by less experienced techs whose goal is just the keep the rental going.

I bought my 360 without doing a PPI, this one the PPI would be so thourough it would take days not hours.

 

I would agree the post is spot on, about how the car was probably used and abused as a rental, people rent mini vans and regluar cars, when their's is in the shop. People rent exotics to fling the daylights out of them! Wonder if the carfax shows how many yrs this car was owned by a rental/ lease company? And why didn't they fix the "short"?

 

I agree this car would not be for me as we'll. Not to be argumentative, but why would the motor news to rebuilt soon? I can imagine tons of things it may need but wouldn't engine internals be ok compared to other problems a rental can have. I guess it may have been revved high a lot or maybe just due to lack of proper oil change intervals or lot of hard runs from cold starts.

 

no argument taken, its a valid question.

The 360 motor is a super strong motor that will take lots of abuse, but just like any motor, it likes to be warmed up before abused. I would be less concerned about the motor being revved high, its a Ferrari motor and should be able to handle that but I would be worried about renters revving the daylights out of the thing when dead cold. I have seen renters (Lambo rental in Vegas) just sit at a light and rev the motor to what sounded near redline in neutral and of course spin the tires which can't be good for the gearbox and other driveline components.

If I ever looked at a rental, I would expect the price to allow me to rebuild the motor and not be upside down, I would hope it does not need a rebuild but I would expect the price to allow me to rebuild it.

I actually prefer my 360's to be a little less pristine then most here do because I drive mine nearly daily, its my rainy day driver when I don't want to ride my motorcycle in the rain and I drive it to work a few times a week also to do things like grocery shop that is not possible on my motorcycle. My motorcycle is still my preffered daily ride but the 360 is a few days a week and weekends. So my 360 will get some dings, its nice that its not a pristine example. I do argue its the very best looking 360 out there with 60,000 miles on it though

 

I'd love to see some pics of a 60k mile 360. Good answer.

 

There was a posting about this car on one of the forums (I can't remember if it was on F-chat) and it included pics of the interior. It was completely trashed with holes in the leather. One of the worst I've ever seen...

 

+1

There are no "bargains" to be had in Ferrari-land (and very few in life generally)...much more common for value and cost to converge. There's no free lunch.

 

if you are really interested, PM me and I will send lots I don't want to hijack the thread. You can also find lots of pics of my car already posted on other threads here.