'High' mileage Ferrari's

[M1KEY]

Folks, am currently looking around for a nice 360 Modena. Have seen one which I'm interested in but am a bit unsure about the mileage - its on 44K (history and condition seem good). I know it's not high for the year (2000), an average of under 4K a year which on pretty much anything less would be considered low but the Ferrari market does seem obsessed with ultra low mikeage. .

Everyone always says they're better for being used which I agree with and am all for using cars so will probably be doing approx 5/6K a year. My main concern would be resale - if for example I added 15K over 3 years am I likely to struggle selling it? Providing its well maintained etc could you see it being worth less than 30K? Am I better off paying a bit more for a lower mileage example (car is priced at £38K).

I realise there's no definitive answer but would appreciate any thoughts/comments...
Thanks.

[lerd]

If your gonna do 5 or 6 k a year you will be in the same situation just later,it all boils down to how much you want to loose. but on the other hand do you enjoy it or squirrel it away and use it now and again.
If you buy one you have to enjoy it one way or another.
you could look back and say i nearly bought a ferrari ......once
All the best>

[SpeedYellow]

My 355 has over 60k miles on it and runs perfectly, it's quick and smooth. Never enjoyed driving low mileage ones, the gearboxes take 20k miles to get really sweet. The thru ton driving experience 355 were over 150k miles last time I saw them with no engine work over servicing, they are much more robust drive trains than they are given credit for, just look at the average mileage of ones for sale in Germany for instance. The UK seems to be he big mileage worrying market.

Buy it drive it, enjoy it and worry about resale values when you sell it, who knows what might have happened to the economy good or bad in that time which could effect value more than +/- 15k miles!

[POORCARDEALER]

Buy it cheap, as it will need to be when you come to sell it.

[spooter]

Just buy the car drive it and don't worry about how much your going lose until you come to sell the car if your worring about losing 8k over three years dont think its the type of car for you, I bought my 360 with 29k miles for £45k considered high miles at the time and traded the car in four and a half years later with 43k miles for £30k, cost me another £3k in servicing and tyres lost £18k in 4 and a half years ownership really not bad for a top end car cant see the prices dropping much more on the 360.

[RoyaleDetailing]

Was gutted to have missed out on on a high mileage 612 for about £38K a month ago. Seems super value compared to the cheapest cars for £50k.

[Relaxed]

I'd rather go for a car that's been driven long distances than for a weekend-trip-only garage queen whose engine has almost never come up to and staid at optimum temperature and whose gearbox rarely got pulled through all gears with corresponding load/push on it.

Just ask mechanics about that, I guess they'll confirm.

Resale of luxury cars is a b*tch anyway. Live with it.

Best,
Ulli

[johnnyreggae]

M1KEY said:

I realise there's no definitive answer but would appreciate any thoughts/comments...
Thanks.

Spooters post is pretty close to definitive : in a minefield of speculation he presents facts

[birdcage]

Buying one with high mileage means it will more likely work better becuase its been used and they can handle the mileage it's just the cost of keeping them tip top that can be a challenge..

The manifolds on my 355 were painful...

Plus most have been clocked anyway so at least you know it probably hasn't been!!!

[KenC]

birdcage said:

Buying one with high mileage means it will more likely work better becuase its been used and they can handle the mileage

Plus most have been clocked anyway so at least you know it probably hasn't been!!!

If high mileage Ferraris drive better than low mileage ones but most low mileage ones have been clocked anyway does that not mean that all cars would drive the same?

[simonigrale]

[M1KEY]

Thanks for the replies guys.

I don't mind/expect some depreciation and am comfortable with the running costs etc it was more of a case of trying to get and idea of what to expect and concern that nobody would be interested in buying it in the future once the mileage was 60K+ should I want to move it on.

Agree with the comments about being better for being used etc and it's certainally in better condition than others I've seen with supposedly half the mileage.

[Cerbieherts]

If your looking at a 360 or newer the mileage total is stored in the gearbox control unit, so unless the unit has been changed the true mileage can be seen using diagnostic equipment.

[SpeedYellow]

M1KEY said:

Thanks for the replies guys.

I don't mind/expect some depreciation and am comfortable with the running costs etc it was more of a case of trying to get and idea of what to expect and concern that nobody would be interested in buying it in the future once the mileage was 60K+ should I want to move it on.

Agree with the comments about being better for being used etc and it's certainally in better condition than others I've seen with supposedly half the mileage.

It will always sell based on condition and price irrespective of mileage, if you buy cheaper as it higher mileage be prepared for it to be proportionately cheaper when you come to sell it.

[Mario149]

My 2p: if you're gonna do serious mileage, buy cheap (subject to inspection/history etc) then simply sell cheap. If you buy a low mileage one you'll lose waaaaay more when time to sell

[Foundy]

FWIW i'd buy a 60k 360 for £28-29k, so if you lost 8K ish over 3 years thats cheap motoring. Most my customers lose more than that in the first year.

[Bebs]

Cerbieherts said:

If your looking at a 360 or newer the mileage total is stored in the gearbox control unit, so unless the unit has been changed the true mileage can be seen using diagnostic equipment.

Only applicable to F1 gearbox.
I wouldn't worry about high miles as long as its been looked after properly. Mine's about to clock 100,000

[Cerbieherts]

Bebs said:

Only applicable to F1 gearbox.
I wouldn't worry about high miles as long as its been looked after properly. Mine's about to clock 100,000

true. Although the later f-cars have it stored in the body computer, so transmission type is irrelevant....

[anonymous-user]

Thread resurrection
Just be looking through the F430 adverts and the majority are all low miles and there's quite a few up for sale, so a low mileage one isn't particularly rare.
How much would one with 60k miles devalue compared to a similar car of 25k?

[jdwoodbury]

Just read this thread and realised it’s from 2012! The OP need not have worried about resale, the days of a £30k 360 are well in the past 🙂