2000 360 Modena for $99,000, am I crazy for looking?

[AaronR]

Here is the link, it's a black/tan 2000 360 Modena, but it does have very high miles (for a Ferrari) 26,xxx.
I can't remember seeing one for this price before, am I nuts to go check it out, or does it really look like a good deal to you guys?
Aaron

http://wwwheels.com/cfapps/car.cfm?ID=1890059&cfreferrer=

 

[Edwardo]

I would deifianately check it out. This 360 was probably used as a daily driver by the previous owner which is not a huge deal in the 360. I also noticed that it has a six speed transmission. I believe this is a good thing because many people of commented on the reliability problems with the paddle shifter.

This goes without saying but make sure you have an inspection done before you lay down the green.

 

[Ojas]

I wonder if this is a Euro model. Good luck and let us know what you find!

 

[nsx1164]

I wonder if this is a Euro model. Good luck and let us know what you find!

Euro = no warranty, but Ferrari is working on changing this.

Sounds almost too good to be true... and you know what they say. I'd check on damage/repair history and any "stories" too. Hopefully the factory clutch is still in decent shape, and the tranny hasn't been abused.

But ya never know -- with stocks tanking, personal bankruptcies up, and the tough job market, someone may just be too desperate (!!).

##############

PS -- I kinda like your NSX wheels

 

[Tantheman]

Bookmarking

Tan

 

[Tom Larkins]

Keep us posted on this if you take a look please. Some 355 are reaching affordable levels, but this is the first time I've seen a 360 for less the 100k and thats a great color combo IMO. Ad doesn't mention anything about services being done. Have not done as much study on the 360, but I don't think its had some of the problems that the early 355's have w/valve guides and tranny, although the F1 has been known have had concerns.

Also, I would advise you to do a search here and other boards like Ferrarichat (etc) under Luxury Motors. Me thinks they have been mentioned a time of two here on Prime.

Good luck.

 

[AaronR]

Well, I got the whole story once my insurance lady had a problem with the vin. It is actually a grey market euro car that has not had the legalization done

I did a little checking and it costs a good $20,000 to get the car legal. On the good side, I guess the car sounds amazing without cats and is a total rocket! I guess if it looks too good to be true.........
Aaron

 

[Edwardo]

Aaron,

What is involved in making this car US street legal?

 

[nsxxtreme]

I'm curious how often do Ferrari owners actually get warranty repairs. The cost difference seems to be significant between US and Euro models.

 

[AaronR]

I'm curious how often do Ferrari owners actually get warranty repairs. The cost difference seems to be significant between US and Euro models.

As I suspected, the dealers in Chicago want nothing to do with the car, not for warranty or other work. They informed me that they are really trying hard to discourage US buyers from bringing in Grey market cars into the country. I guess there are state and federal fees, along with 5mph factors, cats, o2 sensors, etc....
It didn't sound like a fun conversion, especailly legally.
Aaron

 

[Ojas]

I'm curious how often do Ferrari owners actually get warranty repairs. The cost difference seems to be significant between US and Euro models.

Related to that...

Besides having lower resale value, is any other disadvantage to getting a '99 Euro model (or other year where warranty has run out) over a comparable US model (assuming it has been converted to US-spec)? If the answer is no, an out-of-warranty Euro model appears to be a better buy since the difference in price is still there.

My understanding is dealers don't mind working on Euro models (as long as the customer's paying) and even perform safety-related updates/warranty work on Euro models at no-charge.

 

[nsxxtreme]

They informed me that they are really trying hard to discourage US buyers from bringing in Grey market cars into the country

I could understand why, they would tend to loose a bundle on sales if Us buyers were to import Grey market cars.

 

[Edwardo]

If you are serious about this car, I would go talk to an independent Ferrari repair shop in your area. They may be able to tell you a way you can get it street legal here in the US. They may also give you an estimate on the cost.

 

[gheba_nsx]

If you are really serious about this, fly to Switzerland, buy one for 80k and ship it to the US (other 2-3000). Then do the conversion... you can buy one with far less miles on it for less price here!