RE: Ferrari 360 Modena: PH Carpool

RE: Ferrari 360 Modena: PH Carpool

Monday 27th November 2017

Ferrari 360 Spider: PH Carpool

The love of Ferrari is strong in this one...



Name: Hardeep Atwal
Car: Ferrari 360 Spider Manual
Owned since: November 2013
Previously owned: Z4M, Monaro VXR, S2000, Mk1 MX5
Currently owned: Integra Type R DC2


Why I bought it: "
I would guess that my love of all things Ferrari started in the same way as many other people's; as a wee lad, my wall was covered in Ferrari posters. Whilst I was interested in any particular fast car at that age, Ferrari was a brand that stood out for me.

"When the 360 was released I remember ogling it, thinking it was the best car in the world. I was in school at the time, but had already started day dreaming about owning my very own Ferrari. So when I graduated from university I set myself a goal of saving up to buy a 355 within 4 years (as 360's were a lot more expensive back then).

"November 2013 arrived and things just fell into place for me. I had found out a distant relative was considering selling his 360, it just happened to be in my perfect spec (I'll get onto that later). In the days leading up to the viewing, I lost so much sleep just lying in bed, excited. I went to view it and drove away with the car. It was the first and only car I had viewed."


What I wish I'd known:
"On the day I went to see the car, I was so excited I didn't even notice a warning light on the dash (due to being jump started, a no no with 360's). In fact, as it was a relative, I didn't even test drive it or get it inspected. It has all worked out as it's a good car, but in hindsight I'd advise others in the same situation to try and not get carried away with the situation.

"One thing I didn't expect was just how quickly the engine revs. I am used to heel and toeing in pretty much any car, but it took me a long time to be able to shift smoothly in the 360. Even on upshifts I regularly have to blip the throttle as the revs drop so quickly when changing gear, and the 'box doesn't like to be rushed, especially when cold. I also wish I'd known how much attention the car would attract - nothing will prepare you for this - 99 per cent of it has been very positive, with lots of people making nice remarks about the car whenever I'm washing it on the drive. I do have one neighbour who has become very bitter ever since I bought the car, but I don't let that detract from my ownership experience."


Things I love:
"Where do I start? First and foremost, I have to say I love the noise. My car is fitted with a Capristo Stage 2 exhaust which is the perfect level of sound. A little boomy perhaps below 2500rpm, but a real F1 style screamer at high revs. I also love the spec of mine and the fact it's unique as far as I know. It's a Manual Spider in Rosso Corsa with Racing carbon factory seats in black, red carpets, Challenge rear grill, Capristo exhaust, Challenge (18-inch) wheels and lowered 15mm to Stradale ride height.

"The seats are incredible and I don't think I'd ever buy a Ferrari without the Racing seats now. They hug you in all the right places and it's such a comfortable place to sit for long journeys. Most of all though, they allow me to sit nice and low in the car which is rare as I usually struggle to find that perfect driving position. One unexpected perk has been the access that owning a car like this gets you. From exclusive test drives, car launches and private clubs, there have been a whole host of events for me to get involved in.

"Away from those though, there is just something very special about going for a drive on a Sunday morning and seeing the prancing horse on the steering wheel. I've owned and driven all sorts of performance cars, but nothing ever feels quite as special as a Ferrari."


Things I hate:
"I don't really hate anything about the car. One dislike perhaps is that it is an A to A car. I don't really use it to go anywhere as I avoid parking in busy car parks for fear of door dings.

"The car really attracts a lot of attention. On a typical motorway journey, I regularly see people taking photos whilst driving or sitting a few inches from my rear bumper. Whenever I'm asked by kids for photos or revs, I will happily oblige as I believe all owners should do their part to ensure these cars are seen and heard, and to inspire the next generation of petrolheads."

Costs:
"Over four years I reckon I've spent around £12-16k on maintenance and running costs, excluding insurance or fuel. I have had just one breakdown which resulted in a £4k bill for a new clutch and synchro rebuild. Annual services are £400-700 and a cambelt service is in the region of £1,500 depending on who you use. Ball joints are practically a consumable, so I have already replaced a few with stronger Hills Engineering products.

"Insurance when I first bought the car at 25 was £1,000. The main issue was finding someone who would cover me as I had no ownership experience of a similarly powered vehicle. My premium has now dropped to £800 as I've owned the car a few years and more insurers are prepared to provide cover. With regards to fuel consumption, I have so far refused to calculate the mpg on this car, as I don't want it to effect my enjoyment whilst out driving. However, from what I can tell it doesn't seem to be too thirsty on a run if I drive sensibly as the fuel gauge comes down relatively slowly considering its performance.

"Overall though, I've been fortunate that values have increased during my ownership so I could technically sell tomorrow and the 360 won't have cost a penny. Whilst I didn't buy the car to make money, it's a nice feeling knowing that it hasn't been a money pit so far."


Where I've been:
"I have mainly attended meets, events and convoys rather than going on any epic road trips. One standout moment for me was a 100 Supercar convoy through central London on the way to Cliveden House. Shamefully I've covered less than 5k miles in 4 years. I plan to put this right next year by taking the car back to Maranello, via the Monaco GP and various Alpine passes."

What's next?
"My ultimate dream car has forever been the F40. I don't think I will ever sell my 360 unless I somehow find myself in the fortunate position to be able to afford an F40. I recently test drove a 488 GTB which had phenomenal performance. I have considered whether I would swap mine for a 488, but on reflection a naturally aspirated V8 Manual Ferrari is something to cherish. After 4 years of ownership, I still sometimes find myself walking into the garage just to admire its lines and curves. It's safe to say that this prancing horse will remain in my stable for the long term."


Want to share your car with PHers on Carpool? Email us at carpool@pistonheads.com!

Author
Discussion

1781cc

Original Poster:

137 posts

22 months

Monday 27th November 2017
quotequote all
Lovely car! Kudos for biting the bullet and getting the car of your childhood dreams, ownership experience doesn’t sound frightening either. That’s only ever going one way value wise now...

Amanitin

136 posts

65 months

Monday 27th November 2017
quotequote all
1781cc said:
ownership experience doesn’t sound frightening either.
15k on maintenance for 5k miles driven? That's basically spending 1k on maintenance per tank of fuel.
What is your threshold for being frightened?

Valgar

779 posts

63 months

Monday 27th November 2017
quotequote all
That's an absolute beauty, I agree I prefer the more 'pure' 90's Ferraris.

But fk me, £3k for each 1000 miles?

Mike335i

1,427 posts

30 months

Monday 27th November 2017
quotequote all
Lovely motor, really like that. I have only driven the automated manual F1 box in a 360 and that was great, but a proper 3 pedal car must be amazing to drive.

You should definitely do a euro trip in it, although judging by how much maintenance has cost so far, I would probably get a mortgage to cover it!

Would be interested to know what maintenance it has actually needed.

donutskidmark

644 posts

81 months

Monday 27th November 2017
quotequote all
Less than 5,000 miles in four years.
I think I’d cash it in and buy a car that is slightly more usable and cheaper to own.
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corden

55 posts

62 months

Monday 27th November 2017
quotequote all
Lovely car, horrible number plate.

LotusOmega375D

3,708 posts

81 months

Monday 27th November 2017
quotequote all
[quote=1781ccThat’s only ever going one way value wise now...
[/quote]

Aren't prices lower now than they used to be a year or so ago? 80K seems to be the going rate for a good manual spider nowadays. Not that this affects the OP who is in it for the long-haul and presumably paid a good deal less than 80K in the first place. Nice house too.

1781cc

Original Poster:

137 posts

22 months

Monday 27th November 2017
quotequote all
There was one of these for sale about 3 years ago a touch over £40k locally, so yeah, I expect they will be going up and up.

I think for the cost of the original car and the exclusive experience it brings it’s not horrific.

Different people value different things, have different income and different expenditures.

You only live once, the OP bought his hero car, fair play

CaptainRAVE

290 posts

40 months

Monday 27th November 2017
quotequote all
Was shocked by the maintenance cost - that is a lot of money. Doesn't even make a Ferrari worth it tbh. No wonder people don't use them.

V8 FOU

2,439 posts

75 months

Monday 27th November 2017
quotequote all
CaptainRAVE said:
Was shocked by the maintenance cost - that is a lot of money. Doesn't even make a Ferrari worth it tbh. No wonder people don't use them.
Maybe its BECAUSE they don't use them? It is a piece of machinery and needs to be used.

Daniel1

2,727 posts

126 months

Monday 27th November 2017
quotequote all
When I was 20 and a skint student my car was so crap that every odd noise, clunk and mechanical thunk spooked me so much that I didn't enjoy driving it all (escort ts turbo)

I simply wouldn't enjoy owning something so fragile AND exspensive to repair as a 360

Love how they look though


topless360

2,743 posts

146 months

Monday 27th November 2017
quotequote all
Mike335i said:
Lovely motor, really like that. I have only driven the automated manual F1 box in a 360 and that was great, but a proper 3 pedal car must be amazing to drive.

You should definitely do a euro trip in it, although judging by how much maintenance has cost so far, I would probably get a mortgage to cover it!

Would be interested to know what maintenance it has actually needed.
I'm the owner of this 360, thanks for the nice comment. I have been through and actually calculated the money spent and it's nearer the bottom end of my estimate. In any case, I don't think the maintenance cost would rise in line with any mileage increase as many jobs would need doing regardless.

I've broken it down below if anyone's interested, from the start (all work at Indy's unless stated):

Cambelt service, 2 ball joints, repaint of air filter covers - £1850
Folding roof issue inspect and top up fluid - £48
Annual service (Main Dealer) - £678
Front track rod ends, 6 ball joints and boots plus a few other bits - £1305
Roof fluid top up and check for leaks - £36
Annual service - £400
Front discs and pads (parts only) - £344
4 tyres (parts only) - £595
4 Wheel badges - £105
Clutch and gearbox overhaul - £4000
Cambelt change, brakes fitting, lowered platforms 15mm and geometry adjustment - £1638
Replace leaking metal tyre valve and balance - £58
Annual service (Main Dealer) - £749
Air con regas - £60

There are also a number of minor jobs I paid cash and don't have a record of costs, I'd guess these add up to another £300.
Total £12,166 excluding tax, fuel and insurance and it's been almost exactly 4 years.


LotusOmega375D said:
Aren't prices lower now than they used to be a year or so ago? 80K seems to be the going rate for a good manual spider nowadays. Not that this affects the OP who is in it for the long-haul and presumably paid a good deal less than 80K in the first place. Nice house too.
Thanks, although not my house sadly. Just a place we hired for the weekend, made for a good photo op at least.

Bizzarini

354 posts

195 months

Monday 27th November 2017
quotequote all
How many miles has the car covered ?
Or have I missed that ?

Jex

374 posts

56 months

Monday 27th November 2017
quotequote all
Nice car - as you say a V8 manual Ferrari is something else.

I have a 355 with a Capristo exhaust and my experience of Ferrari ownership has in general been similar to yours. As with yours the gear change is reluctant when cold, but I can change quickly when it has warmed up (very quick to warm up with a dry sump) or I use rev matching - I haven't got the hang of heeling and toeing yet. Have you thought about taking it on the track OP? I did Donington this year - great fun.

I haven't had it all that long and they are actually going down in price a little at the moment, but I don't plan to sell it, so that hopefully stops the cost of insurance going up. You do have to be prepared for some large bills though if anything does go wrong. It's going in for a cambelt service and MoT test tomorrow and it failed its MoT rather expensively last year. frown

kett

31 posts

123 months

Monday 27th November 2017
quotequote all
I think the running cost/mileage is perfectly palatable; assuming the depreciation is zero.

Simple man maths.

Bizzarini

354 posts

195 months

Monday 27th November 2017
quotequote all
I ran my year 2000 360 Modena F1 from 10,000>20,000 miles in the years 2003-2005
Running costs were minimal BUT it depreciated £15,000 per year.
Some info about it in my new book
Naff photo I know !




Jex

374 posts

56 months

Monday 27th November 2017
quotequote all
kett said:
I think the running cost/mileage is perfectly palatable; assuming the depreciation is zero.

Simple man maths.
Exactly! smile


1781cc

Original Poster:

137 posts

22 months

Monday 27th November 2017
quotequote all
Interesting breakdown of costs, of particular note was the cost of both services and tyres being cheaper than they are for my S8, even using their online fixed priced servicing.


Atomic12C

4,151 posts

145 months

Monday 27th November 2017
quotequote all
topless360 said:
I'm the owner of this 360, ....
Nice fezza, and your write up reminds me of my old F360, albeit mine was a tin top manual.
I owned mine for 3 years doing about 3000 per year in it! And to back up what another poster mentioned, that doing minimal miles doesn't necessarily mean lowest bills. Putting on a good few miles per year is possible with many Ferraris without automatically meaning huge bills as a result.
So don't be afraid of it - especially as you are not in the usual game of owning it for pure investment.


Agent XXX

981 posts

34 months

Monday 27th November 2017
quotequote all
Lovely car but that plate. Seriously?