Worth a punt? Cheap 360
Discussion
MDL111 said:
Don't really get why one should not take a look - if it has not been crashed and the engine is healthy, then one has manual 360 for a not ridiculous price. I do think it is a little overpriced though as white (to me at least) is a bit of an acquired taste on these...
Drive it for 5-10 years and enjoy it - probably wont cost you much more to run than one that costs double to buy today.
With regards to losing money on it .... thanks to the lower entry price I would think the risk is lower than on one of those aforementioned cars at double the price, especially once the correction comes and the "investors" focus on income-producing assets again.
A proper inspections by somebody who knows these cars is key as usual
I agree, and am considering it! Even at the lower price (and allowing for some potentially expensive surprises down the line) it would be a stretch financially and it would mean a lot of juggling with the current cars, but there's no way I could get into a Ferrari with solid provenance and service history at the current prices for several years, if ever. That last bit is probably a good indicator that it's a stretch too far.Drive it for 5-10 years and enjoy it - probably wont cost you much more to run than one that costs double to buy today.
With regards to losing money on it .... thanks to the lower entry price I would think the risk is lower than on one of those aforementioned cars at double the price, especially once the correction comes and the "investors" focus on income-producing assets again.
A proper inspections by somebody who knows these cars is key as usual
youngsyr said:
I agree, and am considering it! Even at the lower price (and allowing for some potentially expensive surprises down the line) it would be a stretch financially and it would mean a lot of juggling with the current cars, but there's no way I could get into a Ferrari with solid provenance and service history at the current prices for several years, if ever. That last bit is probably a good indicator that it's a stretch too far.
the last £6K full service at Lancasters is the most important one in it's history 
MDL111 said:
With regards to losing money on it .... thanks to the lower entry price I would think the risk is lower than on one of those aforementioned cars at double the price, especially once the correction comes and the "investors" focus on income-producing assets again.
You'll be surprised how quickly the bills escalate on cars with hidden issues. Those are much more likely on the cheaper cars. Here are a couple of examples. The manual cars that many think are far less problematic than the F1 cars have a propensity for munching synchro units. This can often go undetected until it gets to a stage when the gear no longer selects. That repair bill can get up as high as £10k depending on how bad it is inside when it's opened up. Abs units fail due to water ingress. These are no longer available. Expect to pay at least twice the amount for a used one if you can find one. Plus the damage to the wiring loom. That's another potential £4000. A knackered battery leading to a ham-fisted jump start? That'll be a couple of engine ecu's please, £6000. All of those faults can be intermittent at the beginning. All are caused by deferred maintenance. A couple of them won't be evident to even the most detailed PPI. Then remove the 20% of its value because there is no service history. Take another 10% because it's already had a colour change in its past. Take some more off compared to RHD cars. Suddenly not such a bargain...sparta6 said:
youngsyr said:
I agree, and am considering it! Even at the lower price (and allowing for some potentially expensive surprises down the line) it would be a stretch financially and it would mean a lot of juggling with the current cars, but there's no way I could get into a Ferrari with solid provenance and service history at the current prices for several years, if ever. That last bit is probably a good indicator that it's a stretch too far.
the last £6K full service at Lancasters is the most important one in it's history The aftermarket alarm worries me as does the potential for all the deferred maintenance and hidden issues.
Cerberaherts said:
MDL111 said:
With regards to losing money on it .... thanks to the lower entry price I would think the risk is lower than on one of those aforementioned cars at double the price, especially once the correction comes and the "investors" focus on income-producing assets again.
You'll be surprised how quickly the bills escalate on cars with hidden issues. Those are much more likely on the cheaper cars. Here are a couple of examples. The manual cars that many think are far less problematic than the F1 cars have a propensity for munching synchro units. This can often go undetected until it gets to a stage when the gear no longer selects. That repair bill can get up as high as £10k depending on how bad it is inside when it's opened up. Abs units fail due to water ingress. These are no longer available. Expect to pay at least twice the amount for a used one if you can find one. Plus the damage to the wiring loom. That's another potential £4000. A knackered battery leading to a ham-fisted jump start? That'll be a couple of engine ecu's please, £6000. All of those faults can be intermittent at the beginning. All are caused by deferred maintenance. A couple of them won't be evident to even the most detailed PPI. Then remove the 20% of its value because there is no service history. Take another 10% because it's already had a colour change in its past. Take some more off compared to RHD cars. Suddenly not such a bargain...youngsyr said:
sparta6 said:
youngsyr said:
I agree, and am considering it! Even at the lower price (and allowing for some potentially expensive surprises down the line) it would be a stretch financially and it would mean a lot of juggling with the current cars, but there's no way I could get into a Ferrari with solid provenance and service history at the current prices for several years, if ever. That last bit is probably a good indicator that it's a stretch too far.
the last £6K full service at Lancasters is the most important one in it's history The aftermarket alarm worries me as does the potential for all the deferred
maintenance and hidden issues.
Always cheap for a reason
I was somewhere getting a bit of work done recently and there was an F355 in there, the guy was telling me it had been bought 'cheap' as a cat d. When they went to do the alignment, they couldn't get it any better than 5mm out and apparently this meant it needed a new subframe to sort, which was £15k just for the part alone, goodness knows the labour charge.
Everyone selling a Ferarri knows that prices have gone up massively in the last few years, so anyone selling one cheaply is doing so as they can't ask more for it
I was somewhere getting a bit of work done recently and there was an F355 in there, the guy was telling me it had been bought 'cheap' as a cat d. When they went to do the alignment, they couldn't get it any better than 5mm out and apparently this meant it needed a new subframe to sort, which was £15k just for the part alone, goodness knows the labour charge.
Everyone selling a Ferarri knows that prices have gone up massively in the last few years, so anyone selling one cheaply is doing so as they can't ask more for it
jakesmith said:
......Everyone selling a Ferarri knows that prices have gone up massively in the last few years, so anyone selling one cheaply is doing so as they can't ask more for it
Not necessarily!Right now, Ferrari's are not being snapped up within a short time of going on sale, and can sit around for months on hand waiting for the right buyer to come along.
For some, they need the money as soon as possible and cannot afford to spend months on end waiting for a buyer, so they sell their car cheaply to try and get a faster sale.
It may be a property or business deal that they need the money for, a debt that needs paying off, a family member might need medical treatment that needs to be paid for ASAP or any number of reasons. In those situations, a seller could easily ask more money, but then they could end up waiting too long to find a buyer. Sometimes, time can be a bigger factor when it comes to selling a car!
That's not to say it's the case with the car in this thread, it's left hand drive, had a complete respray at sometime, the service history is missing, and it is such an unknown/untraceable quantity that the seller has little option than to sell it cheaply if they want to sell it at all, but not all cars are sold cheaply because that is all they are worth!
youngsyr said:
Cerberaherts said:
MDL111 said:
With regards to losing money on it .... thanks to the lower entry price I would think the risk is lower than on one of those aforementioned cars at double the price, especially once the correction comes and the "investors" focus on income-producing assets again.
You'll be surprised how quickly the bills escalate on cars with hidden issues. Those are much more likely on the cheaper cars. Here are a couple of examples. The manual cars that many think are far less problematic than the F1 cars have a propensity for munching synchro units. This can often go undetected until it gets to a stage when the gear no longer selects. That repair bill can get up as high as £10k depending on how bad it is inside when it's opened up. Abs units fail due to water ingress. These are no longer available. Expect to pay at least twice the amount for a used one if you can find one. Plus the damage to the wiring loom. That's another potential £4000. A knackered battery leading to a ham-fisted jump start? That'll be a couple of engine ecu's please, £6000. All of those faults can be intermittent at the beginning. All are caused by deferred maintenance. A couple of them won't be evident to even the most detailed PPI. Then remove the 20% of its value because there is no service history. Take another 10% because it's already had a colour change in its past. Take some more off compared to RHD cars. Suddenly not such a bargain...Cerberaherts said:
MDL111 said:
With regards to losing money on it .... thanks to the lower entry price I would think the risk is lower than on one of those aforementioned cars at double the price, especially once the correction comes and the "investors" focus on income-producing assets again.
You'll be surprised how quickly the bills escalate on cars with hidden issues. Those are much more likely on the cheaper cars. Here are a couple of examples. The manual cars that many think are far less problematic than the F1 cars have a propensity for munching synchro units. This can often go undetected until it gets to a stage when the gear no longer selects. That repair bill can get up as high as £10k depending on how bad it is inside when it's opened up. Abs units fail due to water ingress. These are no longer available. Expect to pay at least twice the amount for a used one if you can find one. Plus the damage to the wiring loom. That's another potential £4000. A knackered battery leading to a ham-fisted jump start? That'll be a couple of engine ecu's please, £6000. All of those faults can be intermittent at the beginning. All are caused by deferred maintenance. A couple of them won't be evident to even the most detailed PPI. Then remove the 20% of its value because there is no service history. Take another 10% because it's already had a colour change in its past. Take some more off compared to RHD cars. Suddenly not such a bargain...MDL111 said:
I agree bills can escalate quickly, do not necessarily agree though that they are much more likely on cheaper cars though. As for your example above, if there is no gearbox rebuild in the service history, I would think the risk is prett much the same for the cheap vs the expensive car.
You would think that would be the case, but not so. It's people driving around with a worn clutch and failing plate springs that damages the gearbox. The vast majority of the cars I see that are at the lower end of the market are suffering from issues that are ignored due to cost, sometimes it's the odd ball joint, sometimes it's a massive oil leak, a knackered dragging clutch, poor body work whatever. I also think these sorts of slightly odd cars are better for if you can do some work yourself, have a handy mate etc, and are planning on keeping for a long time
A mate of an ex colleague bought a 360 10 years ago for £35k and said it was quite straight forward if you have the time to do it all carefully. He changed the clutch and did a load of other suspension bits. He had never owned a prestige car before but is mechanically minded. The car would not retain good value with DIY but at £35k it's less of an issue really I bet it doesn't owe him any money now if he still has it.
A mate of an ex colleague bought a 360 10 years ago for £35k and said it was quite straight forward if you have the time to do it all carefully. He changed the clutch and did a load of other suspension bits. He had never owned a prestige car before but is mechanically minded. The car would not retain good value with DIY but at £35k it's less of an issue really I bet it doesn't owe him any money now if he still has it.
jakesmith said:
I also think these sorts of slightly odd cars are better for if you can do some work yourself, have a handy mate etc, and are planning on keeping for a long time
A mate of an ex colleague bought a 360 10 years ago for £35k and said it was quite straight forward if you have the time to do it all carefully. He changed the clutch and did a load of other suspension bits. He had never owned a prestige car before but is mechanically minded. The car would not retain good value with DIY but at £35k it's less of an issue really I bet it doesn't owe him any money now if he still has it.
Agree completely. A mate of an ex colleague bought a 360 10 years ago for £35k and said it was quite straight forward if you have the time to do it all carefully. He changed the clutch and did a load of other suspension bits. He had never owned a prestige car before but is mechanically minded. The car would not retain good value with DIY but at £35k it's less of an issue really I bet it doesn't owe him any money now if he still has it.
yzr500 said:
yes Lee ive still got that silver 360 manual I brought from you 2 years ago , offered it up for sale a few times but keep holding back as its a great car regards jim
Good to hear it's still around 
Personally I think silver is one of the best colours on a 360 and they generally suit metallic. They are a big car and I don't feel they suit the traditional colour combos which is why I hunted all over for silver/red leather.
Lee
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