The 360 is one of the most affordable, reliable and cost effective Ferrari’s to own. The tipo is ageing well cosmetically and has a long, reasonably flat depreciation curve initially led by mileage.
As a guide when we have an interest in a car we contact the seller, discuss the car including the service history and general ownership experiences for the period he /she has owned the car for. We then HPI check the car and, once we are happy, go and view it – please note that everyone will tell you that they looked at 6 cars before buying this one and you will not find a better one in this price range!
At the physical inspection stage we buy 1 car in 3 which effectively means that 2 in 3 cars have either had accident damage or they are not commercially viable to retail. Remembering pointers like;
- If you are happy to put up with a fault at purchase when you come to sell it the next buyer probably will not be willing to accept the same fault.
- A car that has dipped in quality will never come back to the level of a car that has been loved all its life.
- Buy with your head not your heart – it very easy to say ‘I want it – I can afford it’ without really knowing what your getting involved in.
Preparation for sale
The usual repeat areas that we have to attend to are:
- Oil leak / cam seals
- Power Steering pipe oil leak
- Ball joints – front lower are fastest wearing
- Seager (Ball joint) boots split
- Door rattle – bracket at the base of the door
- Poor front end paint work
- Tyre wear
- Clutch status (wear level)
- Spare keys / alarm fobs
- Brake rotor thickness / pads
- Brake lines blocked
- Door cables
- Handbrake mechanism (tensioner)
The usual preparation cost for a 360 is £3000 if the clutch is OK and £4500 if a new clutch is required. This preparation should be detailed and carried out before resale – not just the ‘I’ll stick a service and fresh MOT on it as part of the sale’ approach – this is the difference between preparation and just selling a car.
Warranties and the 360
We looked into the schemes offered by Warranty wise, RAC and other top companies and decided that any issue that you would get from a 360 would either not be covered or the cost of the policy would mean that you would be better off just paying for the repair. A warranty does not negate the dealers responsibility to the Sale of Goods Act. Any warranty should be viewed as a dealer added perk.
The Sale of goods act and used cars
Within reason of normal wear and tear the basic rule applies that if there is a fault within the first 6 months of owning a car purchased from a dealer – it is the dealers responsibility to prove the fault was not there at the point of sale. There are certain exceptions like:
- If a car model has a generic fault that was there from new
- If the dealer has explained to you that the fault was there at the point of sale
- The age of the car is critical in the reasonableness of what can be expected. For example a part can fail or wear out but was the part checked by the dealer and is there evidence of this check?
If you are buying a Ferrari, buy the best car you can afford with the lowest mileage. If you can only just afford the car then you probably cannot afford to run it. If a dealer has done the job properly then a dealer car is not just the same car as a private sale in flashy showroom. In most cases dealer prices are usually around £1500 – £2000 more than private adverts but you should get a better car, legal protection (SOGA) and a helping hand in times of trouble.
Check out your dealer carefully. If you buy private then get it inspected by a Ferrari specialist – but also check what they are going to cover, very few inspectors perform both mechanical and cosmetic inspections.
Walkersport Ferrari Specilaists
01691 657 311
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