Is it a bad time to buy a 360 (F1)?

Yes , and only 8 years away from Club Discounted Registration here in Australia for 30 years or older. Bet no ones thought of that as a Plus for a 99 model.

 

As long as the updates have been completed, there really is no reason to shy away from the '99 models. As mentioned, NO PRECATS, which will eliminate the possibility of them degrading and getting sucked into your engine as with later models (as these cars age, it becomes more of a possibility). Also NO SECONDARY AIR SYSTEM, not huge deal but less to go wrong. In fact, most of the other upgrades Ferrari put in later models can be performed after the fact if so desired.

 

This was last June - there were multiple cars in the high $40k range because used cars were in the gutter. I saw a 12k mile late build 612 for $55k, a 997.1RS for <$100k and a 997 GT2 for <$110k.

I assume most of these were distress sales but it was pretty crazy how cheap cars got.

 

... and upgrade the trans mount, look at engine mounts to frame for cracking (to my knowledge only found on the '99), change F1 pump relay to a 50 amp from the stock, IIRC, A 30amp. and check for updated cam variators. Like most manufacturers Ferrari learned a few things from their "all new" 360 from the first year of production. I did my research and those first year teething problems made me decide to step up to at least a 2003.

But make no mistake the 1999 is not a bad car and the one you mention sounds like a good deal even considering the cost of a 'belt job" and the TCU update. I just personally think the later 360s are a better bet. Again, just one man's opinion.

How many owners has it had? I'm the third owner of my 360. It was well taken care of and the number of owners was important to me. A guy that owns a 360 for 10+ years usually will respect the car and take care of it's needs along the way as opposed to a long list of owners that drove the car (maybe even abused it) for a few years, or less, and moved on before he had to pay anything in repairs.

 

Yep. The interior and body are all the same throughout the model run.

 

For the Spider, the 1999 and 2000, plus the first half of 2001 production lacks the access ports in the Capote to change the fuel pumps and rollover valves. If the car lacks these access ports, the capote mechanism has to be pulled from the car to access those parts. Talk about your major surgery!

 

There were many F430s in the mid to low $70k range. Several were sold at Manheim for <$70k with clean titles.

 

With the inc in 360 and 430 prices… I wonder what supercar will remain in the 50-70 range …. What will be left…. Lotus? Maserati? I8??

 

I looked at the car you are considering. Looks nice and I too almost got myself a silver 360. The factory shields for me (indented fender and the shields recessed in) are a really nice touch and add a bit of interest to the smooth lines of the car. The Black interior is kind of a plus from a maintenance standpoint. It's easily "touched up" when it shows a bit of wear and of course never will look dirty! My car has the Crema (light cream color) interior. Very pretty but shows everything. The stuff you note that the car needs is considerable so smart of you to take that into consideration. The cam Variators were a factory recall and most cars have had that done, but I would verify that.

Some folks have said the engine mounts to the frame have cracked on their '99 models and have had to be welded back up. But with that said most believe it is kind of restricted (and some feel wholly restricted to the 6 speed stick cars) and not usually an issue with the F1 cars. But worth taking a peek at them. Uneven exhaust could be a tell tale sign.

But as you have already figured, the price + the necessary maintenance pushes this '99 model to the going rate. Not that that's a bad thing but something to use as a comparison to others you are looking at.

 

As someone selling a completely sorted and mechanically ready, needs nothing, mechanical PPI done needs nothing year 2000 Modena, I am baffled at the low ball offers I get for a car that DOES NOT need $10-15K worth of work, has Scud wheels, challenge stradale bumper and skirts, etc. etc. and is priced higher but reasonable offers entertained that would be cheaper in the long run than the car being entertained......everyone wants the cheapest Ferrari, and then it turns out to be the most expensive in the long run.

Many buyers are reluctant to pay a little more for a mechanically sorted car, they just want cheapest entry into Ferrari lalaland...

 

Sounds to me like you need to send the OP a PM. . Seriously.

It doesn't appear like he's in it for the flip and is genuinely looking for a good car for himself to simply enjoy.

For me I get it. In your shoes I'd be frustrated too. I don't buy and sell my cars. I buy what I want and keep them for a good long time. Paying a little extra at the front end means very little to me after I've enjoyed it for 8 to 10 years.

I recently sold a car that was all sorted and was a "get in and drive vehicle" I had for a while. I had a hell of time selling it. And when you compared it to the "lesser choices" out there I was simply left scratching my head. No pegging the market lately in my experience.

 

Here in Ferrari’s, by owner. Car gurus. Orange County , Ca. Craigslist
Car is in So Cal., Riverside, 92503.

 

Yes, I have had the 360 for 9 years, longest owner out of 5 prior. I have a few other sports cars and a couple of Harley’s and boats,
so time to use all the toys is at a premium, I do not need the money out of the sale, so if I keep it a few more years that is fine.
Also selling a classic car and a house, while doing all this dealing with the time to deal with wannabe owners, just do not have the time and energy for it. No biggie, life is good and no complaints.
I do not think most people looking at my car are out to flip, they just want them cheapest entry into Ferrari Land....and frankly
the end result is why so many cars have so many owners, the first time they have a repair bill, need a clutch job, they dump it
and leave with a bad taste of ownership.

Kind of like a used boat, you have to be prepared for bills and not cry about it. The price of ownership turns most away.

 

Cheap tyres would put me right off. If they’re trying to save a couple of bucks on tyres then what else has been neglected.

I bought my 360 Spider in April 2020. I wanted a yellow drop top on stock starfish wheels and that’s what I got. 24k miles and good but not complete service record. Cost the equivalent of US$62k and I’m about US$10k maintenance into the car over 13 months / 5k miles between routine (annual x 2, tyres) and non routine (a/c compressor, fuel pump, steering rack).

I am fine with it but the maintenance costs show that if +/- 10 or even 20k is the deciding factor for a purchase it’s probably not the car for you. I’m not coming at it from a moneybags perspective as my budget is far from unlimited but it’s an old Ferrari, the entry price is only half the story.

 

Exactly. It isn't IF it will give you a $10K bill. It is WHEN is the next one.

 

7k miles and 3 yrs in my 360 and no 10k hit yet…. (((Crosses fingers sacrifices chicken)))

 

To be fair to it, my car hasn’t either.

There was a clue in the service history that the a/c was leaking that I’d didn’t spot. But after 18 years, such is life.

I started noticing some play in the steering rack and had it rebuilt.

The fuel pump I found out about when it left me at the side of the road lol.

No individual bill was above US$3k and all of the above are pretty forgivable in my view as wear items on an 18 year old car.

And out of the $10k maybe $3k is represented by the two annuals and a new set of PS4s.

So for me it’s within expectation but it’s important to have the right expectation going in.

 

I bought around a year ago, and there weren’t any $49K 360s where I was looking…