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Thread: Ferrari 360 F1 - First year ownership costs

  1. #11
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    Glad the car has been reasonable for the first year Mike. There are some things that are well documented elsewhere that can cause big bills on a 360 and hopefully one acts promptly on the warning signs.
    When I bought mine I started looking at tin tops at 60k and ended being able to buy a very good spider for 59k after travelling a lot of miles looking at cars and being disappointed. Spiders at the time were about 10k more expensive. The prices dropped on 360s during the 3 months I was looking and the first car I looked at, which was a good Modena, was willing a couple of months later to take 10+k less as the prices went down big time. He'd paid IRC 76k just over 12 months previously, so if unlucky it's easy to loose a lot of hard earned 's on cars. As an aside 360 prices seemed to be pretty firm if not rising for good cars at present.
    Happy motoring

  2. #12
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    Quote Originally Posted by Nosevi View Post
    Depreciation on a 360 may be an issue from time to time. It's also amazing to have lost 13.5k (taking into consideration the plate) on a car in 12 months bearing in mind he had a detailer tidy it up. Bad timing or was he just daft to have paid 60k in the first place? Your opinion is what I'm after, obviously.
    the big killer is the spread between buying retail and then selling privately or selling back to the trade.....THEN you could easily lose 10 to 20k in 1 hit.....

    My 360 and 430 have all been good value to run with no unusual expenditure.......the trick is to buy right AND get it inspected....

  3. #13
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    Quote Originally Posted by markst View Post
    the big killer is the spread between buying retail and then selling privately or selling back to the trade.....THEN you could easily lose 10 to 20k in 1 hit.....

    My 360 and 430 have all been good value to run with no unusual expenditure.......the trick is to buy right AND get it inspected....
    Good point Mark regarding retail vs private. I guess lower down the scale, as it were, the price difference isn't so pronounced and obviously you're talking lower numbers anyway. The point about inspected is well made as well, guess that was my point re needing a new clutch right away. Maybe he did and was just unlucky?

  4. #14
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    Quote Originally Posted by Nosevi View Post
    Jason, that really is a tale of woe, he must have hated that car by the time he sold it. Depreciation on a 360 may be an issue from time to time but he was a tad unlucky to have a bill like that for things like a clutch (which you'd have thought was checked prior to purchase on a PPI). It's also amazing to have lost 13.5k (taking into consideration the plate) on a car in 12 months bearing in mind he had a detailer tidy it up. Bad timing or was he just daft to have paid 60k in the first place? Your opinion is what I'm after, obviously.
    Where did 13.5K come from? That is not an unusual loss in 12 months, dealers markup for buying/selling, servicing etc.
    What really puts you into serious loss is hitting ice on the depreciation slope.

  5. #15
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    Quote Originally Posted by Mallard View Post
    Where did 13.5K come from?
    Don't know! Pete's abacus has some beads missing

    12M Depreciation was 22k and spend was another 9.........

  6. #16
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    Quote Originally Posted by Mallard View Post
    Where did 13.5K come from? That is not an unusual loss in 12 months, dealers markup for buying/selling, servicing etc.
    What really puts you into serious loss is hitting ice on the depreciation slope.
    Misprint - meant 23.5k ie bought car and plate for 61,500, sold both for 38,000. Taking out the repairs etc 13.5k may have not been unusual, I'd hope that 23.5k is a bit above the norm for 12 months depreciation, even taking into account retail vs private.
    Last edited by Nosevi; 24-05-2013 at 08:28 PM.

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    Quote Originally Posted by Mike01606 View Post
    Don't know! Pete's abacus has some beads missing
    No, just fat fingers on an iphone virtual keypad. That's my story and I'm sticking to it

  8. #18
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    Quote Originally Posted by Nosevi View Post
    Misprint - meant 23.5k ie bought car and plate for 61,500, sold both for 38,000. Taking out the repairs etc 13.5k may have not been unusual, I'd hope the 23.5k is a bit above the norm.
    must have been in the depths of the recession............great 360s were low 40s !.......

    my biggest cost was tyres !!...and having the car Valeted every month....

  9. #19
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    The car was a minter from KHPC. I think the market went against him (we're talking 4 years ago).

    Realistically, 60k was retail market value at the time - and this slid heavily across the year. I guess the trade bid at the time was circa 50k so the actual big hitter was the actually the void between trade & retail prices rather than depreciation. He also had the bad luck of a big bill & used the car infrequently

  10. #20
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    Quote Originally Posted by markst View Post
    my biggest cost was tyres !!...and having the car Valeted every month....
    Sounds like a good way to keep a car - driven but looking nice

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