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Ed Higginbotham
Ed Higginbotham Editorial Assistant
4/13/15 9:27 a.m.

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.

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nderwater
nderwater PowerDork
4/13/15 10:07 a.m.

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.

wearymicrobe
wearymicrobe SuperDork
4/13/15 1:30 p.m.
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
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.

BradLTL
BradLTL Dork
4/21/15 8:25 p.m.

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

Swank Force One
Swank Force One MegaDork
4/21/15 8:51 p.m.

+1 to preferring the 355. The 355 is one of the last Ferraris that do anything for me.

nderwater
nderwater PowerDork
4/22/15 8:24 a.m.
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
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.

Adrian_Thompson
Adrian_Thompson UltimaDork
4/22/15 10:23 a.m.
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.

maseratiguy
maseratiguy Reader
4/23/15 10:10 p.m.

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.

Giant Purple Snorklewacker
Giant Purple Snorklewacker MegaDork
4/23/15 10:23 p.m.

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.

200mph
200mph New Reader
4/25/15 9:05 a.m.

360 is the first truly modern mid-engine Ferrari. No more cramped legs for 6 footers, no more engine-out timing belt service, etc.
Only downside is no more GTS version with removable roof section, just coupe and spider.

petegossett
petegossett PowerDork
4/25/15 10:49 a.m.
Giant Purple Snorklewacker wrote: A $70k super car today makes a $70k used super car from then look like a rolling chicane.

Except that new $70k supercar will likely depreciate some, while the used Ferrari - if your timing is right - will be closer to appreciating in value, like every single Ferrari that wasn't butt-ugly [cough] GT4, Mondial 8, etc. [\cough] ...and even those are starting to climb somewhat.

Then again, driving off the lot in a new Vette, with a real warranty, that you can find a dealer for in damn near every town across the US with more than ~2000-population...that's a nice advantage.

Adrian_Thompson
Adrian_Thompson UltimaDork
4/25/15 11:20 a.m.

In reply to petegossett:

Funny, I think the GT4 is one of the best looking cars they made and the Mondial is better looking than anything they've built this century.

petegossett
petegossett PowerDork
4/26/15 5:12 a.m.

In reply to Adrian_Thompson:

Actually, I tend to agree with you - but they are the cheapest Ferraris for a reason.

Adrian_Thompson
Adrian_Thompson UltimaDork
4/26/15 8:11 a.m.
petegossett wrote: In reply to Adrian_Thompson: Actually, I tend to agree with you - but they are the cheapest Ferraris for a reason.

Don't follow fashion man, create it.

Cotton
Cotton UberDork
8/27/15 1:25 p.m.

Bumping this because I'm now on the hunt for a 360. Thought I found one local, but it seems to have some issues and the seller is very vague, so here we go. I am also keeping an eye on the 430 because on paper it seems to be the much better car, but the price reflects it even though they seem to be coming down and I've had several people say they prefer the 360 over the 430.

Any thoughts on 360 vs 430 are appreciated.

Anyway, my spec wish list is a strange, but would be TDF blue with black interior, daytona seats, sunroof (I know, very rare), shields, under 30k miles, and good documentation. I have struggled on the F1 vs traditional manual decision, but I think I'd like to try the F1 although a 6 speed would absolutely be considered. I'm flexible on pretty much everything above, but if I had speced one new that's how I would have ordered it. Anyway, I'm in no rush, but would like to find the right car within the next 12 months at least. We'll see how the search goes

Flight Service
Flight Service MegaDork
8/27/15 1:29 p.m.
Swank Force One wrote: +1 to preferring the 355. The 355 is one of the last Ferraris that do anything for me.

I am close. I like the 348. The perfect blend of 328 and Testarossa

ultraclyde
ultraclyde UltraDork
8/27/15 2:08 p.m.

Everybody hates on the 458s, but I really like them. Call me a heathen.

I'm no help on the 360, but I did see a 355 on Atlanta CL this morning. 35k miles, $64k

Cotton
Cotton UberDork
8/27/15 2:12 p.m.
ultraclyde wrote: Everybody hates on the 458s, but I really like them. Call me a heathen. I'm no help on the 360, but I did see a 355 on Atlanta CL this morning. 35k miles, $64k

I like the 458 a lot, but it's not in the budget.

I actually started looking at a Testarossa initially because I've always loved those cars, but the more I researched the more I was drawn to the 360.

dyintorace
dyintorace UberDork
8/27/15 2:13 p.m.
Cotton wrote: Bumping this because I'm now on the hunt for a 360. Thought I found one local, but it seems to have some issues and the seller is very vague, so here we go. I am also keeping an eye on the 430 because on paper it seems to be the much better car, but the price reflects it even though they seem to be coming down and I've had several people say they prefer the 360 over the 430. Any thoughts on 360 vs 430 are appreciated. Anyway, my spec wish list is a strange, but would be TDF blue with black interior, daytona seats, sunroof (I know, very rare), shields, under 30k miles, and good documentation. I have struggled on the F1 vs traditional manual decision, but I think I'd like to try the F1 although a 6 speed would absolutely be considered. I'm flexible on pretty much everything above, but if I had speced one new that's how I would have ordered it. Anyway, I'm in no rush, but would like to find the right car within the next 12 months at least. We'll see how the search goes

Are you keeping the 930??

Cotton
Cotton UberDork
8/27/15 2:26 p.m.
dyintorace wrote:
Cotton wrote: Bumping this because I'm now on the hunt for a 360. Thought I found one local, but it seems to have some issues and the seller is very vague, so here we go. I am also keeping an eye on the 430 because on paper it seems to be the much better car, but the price reflects it even though they seem to be coming down and I've had several people say they prefer the 360 over the 430. Any thoughts on 360 vs 430 are appreciated. Anyway, my spec wish list is a strange, but would be TDF blue with black interior, daytona seats, sunroof (I know, very rare), shields, under 30k miles, and good documentation. I have struggled on the F1 vs traditional manual decision, but I think I'd like to try the F1 although a 6 speed would absolutely be considered. I'm flexible on pretty much everything above, but if I had speced one new that's how I would have ordered it. Anyway, I'm in no rush, but would like to find the right car within the next 12 months at least. We'll see how the search goes

Are you keeping the 930??

Oh yeah that's a keeper for sure....one of my dream cars. I will more than likely sell my 96 993 targa to help fund this purchase. I love the 993, but it would knock out a big chunk of the 360 purchase price. I also sold my 09 Speed Triple to go towards it, an 03 new beetle I had for my wife that she never drove, and I have a few others on the chopping block, but nothing major. Out of everything the 993 is the one that will be missed the most and it's still not 100% that it will go, but it's very very likely.

CGLockRacer
CGLockRacer SuperDork
8/27/15 2:26 p.m.

Test drive a F1 flappy paddle and a manual first. I drive a '00 360 flappy paddle with the exotic car group I instruct with and it is not the smoothest. Early generation and single plate clutch. The '04 Lambo is worlds ahead of the Ferrari and only a few years newer.

Cotton
Cotton UberDork
8/27/15 2:39 p.m.
CGLockRacer wrote: Test drive a F1 flappy paddle and a manual first. I drive a '00 360 flappy paddle with the exotic car group I instruct with and it is not the smoothest. Early generation and single plate clutch. The '04 Lambo is worlds ahead of the Ferrari and only a few years newer.

I hope to test drive both. I have a 2000 360 F1 I should be able to drive in a few weeks, so that'll be good exposure. I hear the F1 in the 430 is much better, but the 430 is a big chunk of change more than a 360.

On the Lambo was it a Gallardo or Murcielago? I would LOVE to have a Murcielado, but they're out of budget also unfortunately.

CGLockRacer
CGLockRacer SuperDork
8/27/15 4:46 p.m.

In reply to Cotton:

Gallardo

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