What if we said you could own one
of the best Ferrari road cars ever
for new-Corvette money? Believe it:
That car is the Ferrari 360. Depreciation
has caught up with one of the
company’s finest creations and left it
worth about a third of
its original value.
The 360 Modena
appeared in 1999 at
the Geneva Auto Show
and was unlike anything
Ferrari had created
before. With aluminum
space frame construction
and an available
F1 gearbox, it truly was
state-of-the-art technology.
A V8, mounted
midship, churned out
just shy of 400 horsepower,
enough to seat this Ferrari
comfortably in the realm of supercars.
The next year, 2000, the 360
appeared in roadster garb as the
Spider. It boasted the same V8 found
in the coupe, but its power retractable
top added about 130 pounds.
The styling of the 360 both represented
a new era for the famed
manufacturer and pulled from the
cars of Ferrari’s golden age. The
iconic single grille was replaced
with two smaller inlets on either
side of the nose to move air to
the radiators, which were now
mounted on either side
of the car in front of
the axle. In many ways,
the styling of the car
was designed to optimize performance.
Why have these cars
lost so much value? The
newer 458 simply stole
the market’s interest.
The rejuvenated design
of the 458 made the
360 look to the Ferrari
connoisseur like a preternatural
antique. For
the rest of us, that opened a door.
Need more convincing to jump on
a 360? It’s destined for a price bump.
When a car falls in price this quickly,
it typically buoys back up a little. This
is a prime opportunity to buy low
and sell high–or simply bring home a
good bang-for-your-buck sports car.
Care and Feeding
Scott Wallace from
Continental Autosports
has some Ferrari 360
shopping advice:
As with many exotic
cars, the cost of upkeep
tends to balance out the
lower upfront price. For
example, the cam belts
need to be replaced
every three years.
This is not a car that
accepts any kind of
skimping on maintenance.
One way to tell
is to look at the tires. If
it’s wearing some cheap
rubber, you can bet that
costs were cut elsewhere
as well.
Stay away from
crashed cars, no matter
how inexpensive. Due to
the aluminum structure
of the 360, there are few
shops that can properly
perform structural
repairs. Be equally dismissive
of cars with any
aftermarket work.
When buying a 360
with the F1 gearbox, get
the clutch wear reading
from the TCU (Transmission
Control Unit). Clutch
servicing is expensive.
SOURCE
Continental Autosports
(866) 987-4646
continentalautosports.com
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Comments
The 360 Modena is my favorite car that I've ever had the chance to drive hard. I preferred its on-the-limit handling to the Audi R8, Lamborghini Gallardo and even the F430 I drove on track (I wish I'd had the chance to autocross that one, though!).
Given how far car performance has come in the last 15 years, I'm curious to know how the new Stingray would stack up against the Ferrari. As far as ownership goes, while the Modena has potential for appreciation, the care and feeding costs of a Ferrari would give me an ulcer.
nderwater wrote:
The 360 Modena is my favorite car that I've ever had the chance to drive hard. I preferred its on-the-limit handling to the Audi R8, Lamborghini Gallardo and even the F430 I drove on track (I wish I'd had the chance to autocross that one, though!).
Given how far car performance has come in the last 15 years, I'm curious to know how the new Stingray would stack up against the Ferrari. As far as ownership goes, while the Modena has potential for appreciation, the care and feeding costs of a Ferrari would give me an ulcer.
The 360 is not terrible for a Ferrari, the guys locally are saying about 2500$ a year if you do small stuff like brake pads yourself and bring the car in for belts and the bigger services to a independent. ~2500-4000 miles a year for them
The very few times I have worked on a say a 355 the parts bill could be 10 times that for a major.
Vigo
PowerDork
4/21/15 7:53 p.m.
Ive been looking at 360 Modena values ever since a couple of them went through the auction i was working at for 50k.
Funnily enough, one big hurdle in my mind is how to 'fix' the headlights. They look stupid and are the main reason i've never liked the c6 Vette. 
I still prefer the F355. No F1 shifters, poor driving position, impossible to shift into 2nd when it's cold, pop up headlights... Ferraris should have quirks and an attitude.
Red, gated shifter, screaming V8...
"I think I just had a crisis" -JC
+1 to preferring the 355. The 355 is one of the last Ferraris that do anything for me.
BradLTL wrote:
I still prefer the F355. No F1 shifters, poor driving position, impossible to shift into 2nd when it's cold, pop up headlights... Ferraris should have quirks and an attitude.
I've not driven a F355 but I've sat in a few -- and it's amazing how much older the interiors seem compared to the 360, which even today feels like a completely modern car. The F355 sure is gorgeous on the outside, though.
Cotton
UltraDork
4/22/15 10:13 a.m.
I looked at these when I bought my 930. A 360 is definitely still on the list though and hopefully I can snag one at the bottom of the depreciation curve.
BradLTL wrote:
I still prefer the F355. No F1 shifters
You cold still get a three pedal with the 360, not that it matters as a)They are out of my price range and b) The 360 is ugly to my eyes. The 348/355 are much nicer. In fact Ferrari has completely lost the plot styling wise over the last 20 years to me.
I like the Modena, (though never driven or sat in one) But I love the size of the 355. It just seems more compact and small which I feel sports cars should be. I think that's also why I like Gallardo's, great size, not huge.
The 360/430 and now the 458 and 488 just look so large. Maybe they don't feel that way on the inside, but when I see them they seem to dwarf the driver.
I love the look of the 360 Stradale. It was one of the first supercars I had a chance to ride in when I started on my path to total track junkie back in the late 90s and it totally delivered on it's look and sound.
since then, I've had a crack at practically everything. Gheyardo, 430s, etc. I've still never driven a 360. I still love the look of them and at $30k I'd probably borrow money - but - steppin' up to new Vette money buys a 996 GT3. Or a new Vette. Or a Cayman. Or an Exige... Sorry Ferrari... I'm too practical for you. A $70k super car today makes a $70k used super car from then look like a rolling chicane.
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By Ed Higginbotham
