The joys of a second hand Ferrari! Always worrying what the next big bill will be

Agreed and what I never went into is “full cost of ownership” including depreciation as the higher the mileage on a Ferrari the more the depreciation.

keep in mind the age of the car. 20 years old. Parts wear out from age alone, not just mileage. $4k a year in maintenance is not bad. My BMW 3 series is about $3k a year in maintenance lol

It was a dream come true for me as well - I really hope you get one, they are great cars!

@@rcclassicgarage Thank you! I hope you long life!

Alternatively you could put the money into a pension and retire early.

@@WetLettuce-kc2qm there is probably a balance to achieve. Perhaps being semi retired when you’re still relatively young to keep you busy, but enjoy your toys and experiences while still having plenty of free time.

Agreed, there are better financial investments I am sure!

I would recommend one because since I sorted mine out it’s been great to drive and use, they are reliable, relatively simple to fix, but parts can be expensive at times. 47k is not a big mileage for a Ferrari, mine had 49k on the clock when I bought it. I love mine and would recommend the 360 as I think it’s a perfect balance between the classic and new Ferrari models and it’s great value.

It’s one of those car that you worry about a big bill coming your way at any time!

Haha - I have only had the car two years and I estimate the value of the car has increased more than my bills (but that’s not true for the previous owner), I will wait another year or so and do a full cost ownership video including the value going up, but saying that having a Ferrari you are always worried that a big bill is just around the corner!

The car has about 50,000 miles on the clock now

It is a lot for annual maintenance and I must admit you always have a worry that something is about to go wrong and the next big bill will appear, even above these maintenance costs. They are going on for 20+ years old now and if they are well sorted and well maintained cars they are pretty reliable, but one with delayed maintenance can have issues and be very expensive to own.

They are great cars and I really like mine - I did a video on what to look for when buying a 360 - looking at spec and condition with the common faults, so look out for any of those faults. Make sure the car is well maintained with good annual service history done by a very good specialist.

@@rcclassicgarage thank you. Do you still own to car?

@@joeap1204 yes I do still own it, they are great cars

@@rcclassicgarage I have a question for you. Have you ever dealt with removing clear bra from the Ferrari? The car that I’m looking to buy, 2002 360 has an original clear bra paint protection on it and now there are all kinds of cracked line everywhere from the clear bra. If I were to have it removed, I am worried that it will pull the paint off the car. What should I do? Will this be a deal breaker? Thank you

@@joeap1204 No I have never had to to that. When I bought my car the previous owner had already had the front repainted to remove all the chips

I agree and that big invoice was one of the reasons I bought the car, thinking everything was sorted on it by a well recognised Ferrari dealer.

I agree, this is why I think they change owners quite quickly, I have had it for 3 years and my maintenance costs are about £9k and the value has definitely gone up more than that over my ownership, I am sure the previous owner has lost a bit

Hi Bob, I agree. I also have a Porsche 928 S4 and the build quality is very good compared to the Ferrari

I guarantee your 911 isn't as reliable as a Toyota.

They really can be, if they are not maintained properly they become real money pits

It’s always different ball joints, there are many upper and lower ones on the front and back of a 360 - the car has 50,000 miles and I think almost all have been replaced now

Agreed - I have a Porsche 928 S4 and the maintenace costs are nowhere near that of the Ferrari

What did you expect from Fiat?

Have you got or owned a Ferrari? 360s aren’t poorly built.

Yes I used the full history file of the car and invoices under the previous owner, I could have gone back further in the history but did not think it was so relevant anymore and that 6 years gave a decent sample.

They do have very good engines and nothing beats the roar of the v8 or v12 cars. When very well looked after they are reliable, but they do take a lot of maintenance, which should be done as preventative maintenance and not wait for something to go wrong because then they get expensive.

They are actually reliable cars, it’s just the maintenance costs are very very high and being a high performance car parts like suspension wear quickly