360 Prices

[jb2]

Hi All,

I've decided to take the jump and get a 360. I have 50k to spend and have found a couple of options on PH and AutoTrader. One has 6 owners, 17k miles on it and the other has 24k with 3 owners. Both 2000.

What is the best option in terms of depreciation? I'm tempted to go for the 17k mile car as I will probably add another 10k to it and would like to sell it prior to it hitting 30k miles, but what hits depreciation more, the mileage or the number of owners? I'd be selling it as a 7 owner 360 which concerns me a bit. Both have full Ferrari service history.

Has to be red too, which narrows my options!

Thanks in advance

[Chris355]

Mileage will have a much bigger impact. Number of owners will only bother a few purhasers. I have bought several fcars and the number of owners doesnt bother me at all.

[GreigM]

Buy on condition - a large number of the 360s out there are dogs which have not been cared for - take your time and find a decent one and consider paying more for it if you can find it....a low mileage car can have as more hidden mechanical problems than a 30k car which has been well looked after...

[Chris355]

That is very true. I had a 37k mile 96 355 Spider (considered high mileage in ferrari circles) yet in two and a half years the only problem was a duff fuel injector costing £150. It started every time and never let me down! It was in the best condition that I had seen one in, even the drivers seat bolsters were excellent.

However, when you come to sell it, it is much harder to sell! Condition is important, but if you want to be able to get out of the car quickly then it needs to be 20k or less on a 360.

[jb2]

Thanks guys, the one I was going to go for (low mileage high owners) was being purchased the moment I got there. I have been to see another this afternoon which looks great, 18k with 3 owners and is a little more money but seems perfect so might go for that.

I am a little worried about selling it after I've added 10k to the mileage, so at 28k miles. Im expecting it to drop from 52/53 to 46/47 in a year - is that a realistic estimate?

Thanks again

[Chris355]

In current economic climate very hard to say what it will be worth in a year - they seem to have dropped heavily in the last 4 months and I suspect will only drop harder in the next 12 months. There are 30k mile 360 selling at £45k now (although in fairness I havent seen them and cant comment on condition).

If economic climate improves they may well firm up and could potentially rise sightly.

[jo5eph]

Hmm i duno m8, more likely to depreciate to £40k to a dealer who would then sell for £48k. You could try selling it privately for a bit more but you would end up with too much hastle. Id say if you put 10k miles on a ferrari and lose only £10k your doin well.

I bought a red F360 F1 9 months ago for £53k with 25k on the clock. I doubt Id get much more than £43k for it now so by the time youve put 10k miles on it yours is guna be £40k. Take into account the economic meltdown too, F430 are now down to £92k.