Are there any mileage "dont go overs" for the 360 ?
Discussion
I am toying with getting a 360 and have heard that there are 2 mileage "break points", one at 15,000 miles and another at 30,000 - where after these mileages the cars start to depreciate faster. I also heard this 30,000 one is the real killer, ie any 360's over 30,000 mileage lose money very very quickly and are very tricky to move on without taking a big loss.
My plans are go get a 2000/2001 car with perhaps 20,000 miles on it and pay (I hope) somewhere in the mid-£60k's. I do 8k a year, so in a couple of years it will have around 30,000 miles on it.
Dont get me wrong, I know all about depreciation (my 996TT dropped £24k in 2.5 years) but any opinions on here would be appreciated as I tend to be very thorough when buying a car and try to get as much info as possible about owning & selling it on.
The second part of my question - is what is a "good" spec for a 360. I actually want manual, but aside from that what are the "shoud have" options - the ones that make it a great car to own but also help when it comes to selling it on. I intend to get a red one btw.
Thanks for any help.
R.
My plans are go get a 2000/2001 car with perhaps 20,000 miles on it and pay (I hope) somewhere in the mid-£60k's. I do 8k a year, so in a couple of years it will have around 30,000 miles on it.
Dont get me wrong, I know all about depreciation (my 996TT dropped £24k in 2.5 years) but any opinions on here would be appreciated as I tend to be very thorough when buying a car and try to get as much info as possible about owning & selling it on.
The second part of my question - is what is a "good" spec for a 360. I actually want manual, but aside from that what are the "shoud have" options - the ones that make it a great car to own but also help when it comes to selling it on. I intend to get a red one btw.
Thanks for any help.
R.
hi mate
for that budget you can do much better!
i was just offered a o4 360 manual with 9 k but in black for just under 70 k
i just sold my 200 W 360 manual with 19 k for almost 56 k
just be warned when you come to sell you must try sell it private as the trade dont even like to bid on these older cars! I have a few good friends in the trade who helped me sell private! Trade on a 200 rosso 360 wit 19 k is about 45 k at moment and below 40 k if you wait till after summer
scandelous i know but its a fact
for that budget you can do much better!
i was just offered a o4 360 manual with 9 k but in black for just under 70 k
i just sold my 200 W 360 manual with 19 k for almost 56 k
just be warned when you come to sell you must try sell it private as the trade dont even like to bid on these older cars! I have a few good friends in the trade who helped me sell private! Trade on a 200 rosso 360 wit 19 k is about 45 k at moment and below 40 k if you wait till after summer
scandelous i know but its a fact
roshambo said:
I am toying with getting a 360 and have heard that there are 2 mileage "break points", one at 15,000 miles and another at 30,000 - where after these mileages the cars start to depreciate faster. I also heard this 30,000 one is the real killer, ie any 360's over 30,000 mileage lose money very very quickly and are very tricky to move on without taking a big loss.
My plans are go get a 2000/2001 car with perhaps 20,000 miles on it and pay (I hope) somewhere in the mid-£60k's. I do 8k a year, so in a couple of years it will have around 30,000 miles on it.
Dont get me wrong, I know all about depreciation (my 996TT dropped £24k in 2.5 years) but any opinions on here would be appreciated as I tend to be very thorough when buying a car and try to get as much info as possible about owning & selling it on.
The second part of my question - is what is a "good" spec for a 360. I actually want manual, but aside from that what are the "shoud have" options - the ones that make it a great car to own but also help when it comes to selling it on. I intend to get a red one btw.
Thanks for any help.
R.
My plans are go get a 2000/2001 car with perhaps 20,000 miles on it and pay (I hope) somewhere in the mid-£60k's. I do 8k a year, so in a couple of years it will have around 30,000 miles on it.
Dont get me wrong, I know all about depreciation (my 996TT dropped £24k in 2.5 years) but any opinions on here would be appreciated as I tend to be very thorough when buying a car and try to get as much info as possible about owning & selling it on.
The second part of my question - is what is a "good" spec for a 360. I actually want manual, but aside from that what are the "shoud have" options - the ones that make it a great car to own but also help when it comes to selling it on. I intend to get a red one btw.
Thanks for any help.
R.
No matter what anyone says mileage is a factor if your concerned about depreciation and quick resale. You will get loads of people who'll tell you to just enjoy it but not everyone can afford to loose big numbers on their motors.
Facts......
1. It's harder and takes longer to sell a higher mileage car (unless priced accordingly)
2. Mileage will impact the asking price (not a problem if you get cheap in the first place)
3. Not many traders will take on higher mileage cars
My two pennies worth.
dj kam said:
No matter what anyone says mileage is a factor if your concerned about depreciation and quick resale. You will get loads of people who'll tell you to just enjoy it but not everyone can afford to loose big numbers on their motors...
Whilst not denying what you say, it only prevails because buyers "demand" it based on some overriding notion that the lower the miles, the better the car. Which is frankly stupid.
Sad really. To strive hard to buy something like this then be frightened to use it because of resale value.
I would also suggest that if you require quick resale, any car of this nature (i.e. you're not the first on the block with a new model) is going to cost you a wedge.
roshambo said:
...My plans are go get a 2000/2001 car with perhaps 20,000 miles on it and pay (I hope) somewhere in the mid-£60k's. I do 8k a year, so in a couple of years it will have around 30,000 miles on it....Thanks for any help.
R.
R.
Help with mathematics
After a couple of years of 8k pa on a 20k car, you will have one with 36k miles on it.
There is a school of thought that says you lose money on a car when you buy it...so buy wisely.
At 8k per year, I wonder if buying a car that already has 30+k miles on it at an aggressive price might end up costing you less overall than buying one at 20k but that cost that much more in the first place...hard to say for sure as so few with miles on kicking around. But cars with around 10k more on than your hope is seem to be 10k+ less price wise (than your hope, which may be conservative).
Might be worth having a word with Dion at Elms Collection. Gives impartial advice and might be able to source you a decent car.
why cars should depreciate on milage alone is beyond me.... people who really know about cars [comment aimed at the potential buyers of 2nd hand cars] really should focus on how the car had been maintained rather than how many miles it has done.
I've seen many low milage cars that have been absolutley knackered by the 1st owner and then sold on for more money than an immaculate higher milage car with service history as long as your arm.
Really don't see the point of owners who buy cars and then don't drive them for fear of putting miles on the clock.
My main point of this reply really is to say don't be put off by putting miles on your car... if you can afford a Ferrari then depreciation shouldn't be an issue. ;-) [tounge in cheek comment] And I always find it better to sell a car onto somebody who knows about them and will treat it right in the future. ie. if you've looked after your motor and the person you're selling it to is put off by milage, then they don't deserve the car in the first place.
I've seen many low milage cars that have been absolutley knackered by the 1st owner and then sold on for more money than an immaculate higher milage car with service history as long as your arm.
Really don't see the point of owners who buy cars and then don't drive them for fear of putting miles on the clock.
My main point of this reply really is to say don't be put off by putting miles on your car... if you can afford a Ferrari then depreciation shouldn't be an issue. ;-) [tounge in cheek comment] And I always find it better to sell a car onto somebody who knows about them and will treat it right in the future. ie. if you've looked after your motor and the person you're selling it to is put off by milage, then they don't deserve the car in the first place.
AJI said:
why cars should depreciate on milage alone is beyond me.... people who really know about cars [comment aimed at the potential buyers of 2nd hand cars] really should focus on how the car had been maintained rather than how many miles it has done.
I've seen many low milage cars that have been absolutley knackered by the 1st owner and then sold on for more money than an immaculate higher milage car with service history as long as your arm.
Really don't see the point of owners who buy cars and then don't drive them for fear of putting miles on the clock.
My main point of this reply really is to say don't be put off by putting miles on your car... if you can afford a Ferrari then depreciation shouldn't be an issue. ;-) [tounge in cheek comment] And I always find it better to sell a car onto somebody who knows about them and will treat it right in the future. ie. if you've looked after your motor and the person you're selling it to is put off by milage, then they don't deserve the car in the first place.
I've seen many low milage cars that have been absolutley knackered by the 1st owner and then sold on for more money than an immaculate higher milage car with service history as long as your arm.
Really don't see the point of owners who buy cars and then don't drive them for fear of putting miles on the clock.
My main point of this reply really is to say don't be put off by putting miles on your car... if you can afford a Ferrari then depreciation shouldn't be an issue. ;-) [tounge in cheek comment] And I always find it better to sell a car onto somebody who knows about them and will treat it right in the future. ie. if you've looked after your motor and the person you're selling it to is put off by milage, then they don't deserve the car in the first place.
100% agree with the sh*t, have always said that me self. nice one.
The point on mileage is that if you have 2 cars which are both in excellent condition then you will naturally take the lower mileage one (assuming you can affford it!).
This is a different argument to the low miles/poor condition vs higher miles/good condition which are both at the same price. If this is the choice then take the higher miles/good condition.
The 360 seems to be the first Ferrari that buyers appear to be less concerend about mileage. I have found the build quality to be absolutely stunning and other than a clutch issues and wear to wishbone ball joints, I havent heard any real horror stories. There is one with 60k miles on an 04 plate (?) for sale in Autocar....and Verdi have just sold one with 40k miles...if they are well maintained then it should really just come down to price.
This is a different argument to the low miles/poor condition vs higher miles/good condition which are both at the same price. If this is the choice then take the higher miles/good condition.
The 360 seems to be the first Ferrari that buyers appear to be less concerend about mileage. I have found the build quality to be absolutely stunning and other than a clutch issues and wear to wishbone ball joints, I havent heard any real horror stories. There is one with 60k miles on an 04 plate (?) for sale in Autocar....and Verdi have just sold one with 40k miles...if they are well maintained then it should really just come down to price.
tcf said:
If you want to put miles on a car, buy a high mileage car in the first place - proportionately each mile you put on it thereafter will depreciate it less than if you had bought a 'mint' low mileage car for more money.
I agree too, but I would look at the number of owners and the current owner - the higher the number of owners the more potential that someone hasn't "looked after" the car. If the current owner drives nice and sedately has put quite a few miles on the car then that is something to consider too. What state is the current owners driving license ? The classic one that would always me off a car is a laser detector/diffuser.
History History History.
Rather a 5 year old car with 30k miles with extensive history with a nice collection of main dealer stamps in service book than a 5 year old 3k mile car that has 2 main dealer stamps!!!
An owner that uses his car a lot but services it correctly is worth his weight in gold, an owner who looks to keep costs down driving little and servicing a little will probably sell on a car that will have issues and isnt who I'd want to buy from.
A five year old car that has been kept in the power warranty scheme show signs of a good home and keeper.
Rather a 5 year old car with 30k miles with extensive history with a nice collection of main dealer stamps in service book than a 5 year old 3k mile car that has 2 main dealer stamps!!!
An owner that uses his car a lot but services it correctly is worth his weight in gold, an owner who looks to keep costs down driving little and servicing a little will probably sell on a car that will have issues and isnt who I'd want to buy from.
A five year old car that has been kept in the power warranty scheme show signs of a good home and keeper.
sarbs said:
...Rather a 5 year old car with 30k miles with extensive history with a nice collection of main dealer stamps in service book than a 5 year old 3k mile car that has 2 main dealer stamps!!!
Not just stamps - receipts and any other proof of work. Stamps are easy.
sarbs said:
...A five year old car that has been kept in the power warranty scheme show signs of a good home and keeper....
I'm afraid I don't hold with this in isolation. That a car is covered by Power warranty, always has been and that the keeper has done what needs to be done to keep it thus does not automatically make a good car.
One has to look at everything to do with a car.
But I'm with the drive it boys. And feel incredibly sorry for those that own one and don't use it.
bromers2 said:
tcf said:
If you want to put miles on a car, buy a high mileage car in the first place - proportionately each mile you put on it thereafter will depreciate it less than if you had bought a 'mint' low mileage car for more money.
I agree too, but I would look at the number of owners and the current owner - the higher the number of owners the more potential that someone hasn't "looked after" the car. If the current owner drives nice and sedately has put quite a few miles on the car then that is something to consider too. What state is the current owners driving license ? The classic one that would always me off a car is a laser detector/diffuser.
Don't forget that a lot of these cars are an 'itch' that someone wants to scratch, and that means that often exotic cars go through a number of owners. That, in itself is not a problem, as long as each owner is as good as the next. The problem comes with gaps in service history, lack of documents etc. If the car is serviced properly and the mileage adds up, there shouldn't be a problem.
Jonny5 said:
tcf said:
If you want to put miles on a car, buy a high mileage car in the first place - proportionately each mile you put on it thereafter will depreciate it less than if you had bought a 'mint' low mileage car for more money.
sound advice that !
Well as you know Jon that's what I do! How are you by the way? Hope Italy was good.
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