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Ferrari 360 F1 - First year ownership costs

Mike01606

Mike01606

Active member
One year of ownership of the 360 F1 ticks by tomorrow.

I've done what you shouldn't do but the weather tonight was cr&p so I’ve just scanned through the costs and thought I’d post for those on the hunt as this often gets asked….

Mileage covered was 2700.

Costs to date excluding purchase price of car…..

Insurance £670
12M Road tax £249.75 (Mine is a pre-2001 car so a >1600 cc)
Fuel £1077.20 (approx 17 MPG)

Annual 2 service & MOT £739.50
1L Oil top-up (none used) £11.99
Clutch wear from 20 to 29%

Misc maintenance
Front discs/pads/Goodridge hoses/ATE SB fluid £347.80
Oil pressure sender £100.62

18” Challenge Wheels/Hill wheel bolts/PZero Rosso Tyres/Caps/Decals £2484.87
Offset by 430 wheels and spacer sale (inc eBay fees) £1110.55 -
Net £1374.32

Unnecessary stuff
Later TCU (Ebay) – not fitted £103
Clear side repeaters £37.99
Ferrari dust caps £2.87
Donax TX F1 Fluid £11.99
Rear Tyres plus fitment £80
Rattle cans £30
Hardware £17.53

So overall, pleasantly surprised………excluding tax, insurance, fuel and unnecessary fluff, its cost £2562 (ex. depreciation) buts it’s serviced, got spanking new tyres, MOT’d for 12 months and taxed until October. Even the brake service was not really necessary yet.

As far as experience goes, zero oil consumption, no engine lights and run flawlessly.
The only issue has been the oil sender did not zero with engine off and hence the oil lamp would not have come on and the ABS issue I had with the 430 wheels which was cured with the swap to 18” Challenge wheels.

For 2013, the car is due the ‘big’ 31250 and belts late in the year. Fingers crossed for what the year brings..........

M
 
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Sounds good Mike. Mine is currently zero this year (not took it out yet) but as I had my cambelts and stuff last year it was a big one. Probably near £4k but that does include tax and insurance.
 
9% clutch use for 2,700 miles sounds excessive - of course to be taken with a pinch of salt#
FYI my Stradale has only gone through 10% clutch and 11% CCM usage in the last 5,600 miles / 9,000 km


and 2,700 miles only per year!!! get her out ahahhahah
 
Thrasher said:
9% clutch use for 2,700 miles sounds excessive - of course to be taken with a pinch of salt#
Click to expand...

It did include the Silverstone GWR and getting off track which must have been about 5% alone!......

Clutch has 8k on it so far. Not too bad IMO for the type of driving done. very little motorway use from me......
 
Mike,

Like the way you've included dust caps at £2.87 :)

Actually all looks pretty reasonable for running a car of the calibre for a year, doesn't it. Just don't go on Fchat and tell them what it costs to run a 360 over here, you'll hear the howls all the way across 'the pond'. :grin:
 
Interesting thread

What a great thread for someone who is considering buying a 360, I would have thought you could save 5p on the dust gaps.
 
Differs from owner to owner and car to car IMO

A good friend of mine purchased a very nice red 360F1 a few years back

Cost £60,000
Private Plate £1500
Detailing by pro-detailer £500
F1 Pump went bang and the car was deemed as needing a new clutch & flywheel £7000

This all excludes insurance, fuel etc

The car did 1000 miles across 1 year as his wife got the hump when he used it.

Car went on the private market at £45k - no enquiries

Reduced to £40k after several months of no enquiries

Offer received of £38k (with plate). Best & only offer accepted

Running costs (inc depreciation) £31,000 equating to £31 per mile

Needless to say that he never returned to Ferrari ownership
 
Jason, that really is a tale of woe, he must have hated that car by the time he sold it. Depreciation on a 360 may be an issue from time to time but he was a tad unlucky to have a bill like that for things like a clutch (which you'd have thought was checked prior to purchase on a PPI). It's also amazing to have lost £13.5k (taking into consideration the plate) on a car in 12 months bearing in mind he had a detailer tidy it up. Bad timing or was he just daft to have paid £60k in the first place? Your opinion is what I'm after, obviously.
 
candellara said:
Differs from owner to owner and car to car IMO
Click to expand...

Absolutely spot on! and £31 a mile.....ouch. Although in fairness my final year of superbike ownership cost close to that as I spent a fortune on it and did about 300 miles that year. Granted not a 31K loss though.

I just thought it would be interesting to anyone looking as they are not always horror stories.....

My advice now would be buy a good mid range example that is sorted and looked after even if it is slightly more than others with similar spec/mileage/age. Buy from a trusted source and seek help if you need it.

I'd much prefer to pay £40k for a sorted car than £35k for a cheap one. The actual price spread on these cars is still quite large (say compared to 348's) and I think shopping above the 60% percentile could hurt you disproportionately if you actually use the car. A good mid-range one will not depreciate too much.

M
 
Nosevi said:
Just don't go on Fchat and tell them what it costs to run a 360 over here, you'll hear the howls all the way across 'the pond'. :grin:
Click to expand...

Tried once and got flamed!

If you want entertainment on a quiet night in ask; Should I buy a manual or an F1 360? or How long will the clutch last on a 360? :grin:
 
Glad the car has been reasonable for the first year Mike. There are some things that are well documented elsewhere that can cause big bills on a 360 and hopefully one acts promptly on the warning signs.
When I bought mine I started looking at tin tops at £60k and ended being able to buy a very good spider for £59k after travelling a lot of miles looking at cars and being disappointed. Spiders at the time were about £10k more expensive. The prices dropped on 360s during the 3 months I was looking and the first car I looked at, which was a good Modena, was willing a couple of months later to take £10+k less as the prices went down big time. He'd paid IRC £76k just over 12 months previously, so if unlucky it's easy to loose a lot of hard earned £'s on cars. As an aside 360 prices seemed to be pretty firm if not rising for good cars at present.
Happy motoring
 
Nosevi said:
Depreciation on a 360 may be an issue from time to time. It's also amazing to have lost £13.5k (taking into consideration the plate) on a car in 12 months bearing in mind he had a detailer tidy it up. Bad timing or was he just daft to have paid £60k in the first place? Your opinion is what I'm after, obviously.
Click to expand...

the big killer is the spread between buying retail and then selling privately or selling back to the trade.....THEN you could easily lose 10 to 20k in 1 hit.....

My 360 and 430 have all been good value to run with no unusual expenditure.......the trick is to buy right AND get it inspected....
 
markst said:
the big killer is the spread between buying retail and then selling privately or selling back to the trade.....THEN you could easily lose 10 to 20k in 1 hit.....

My 360 and 430 have all been good value to run with no unusual expenditure.......the trick is to buy right AND get it inspected....
Click to expand...

Good point Mark regarding retail vs private. I guess lower down the scale, as it were, the price difference isn't so pronounced and obviously you're talking lower numbers anyway. The point about inspected is well made as well, guess that was my point re needing a new clutch right away. Maybe he did and was just unlucky?
 
Nosevi said:
Jason, that really is a tale of woe, he must have hated that car by the time he sold it. Depreciation on a 360 may be an issue from time to time but he was a tad unlucky to have a bill like that for things like a clutch (which you'd have thought was checked prior to purchase on a PPI). It's also amazing to have lost £13.5k (taking into consideration the plate) on a car in 12 months bearing in mind he had a detailer tidy it up. Bad timing or was he just daft to have paid £60k in the first place? Your opinion is what I'm after, obviously.
Click to expand...

Where did £13.5K come from? That is not an unusual loss in 12 months, dealers markup for buying/selling, servicing etc.
What really puts you into serious loss is hitting ice on the depreciation slope.:thumbsup:
 
Mallard said:
Where did £13.5K come from? That is not an unusual loss in 12 months, dealers markup for buying/selling, servicing etc.
What really puts you into serious loss is hitting ice on the depreciation slope.:thumbsup:
Click to expand...

Misprint - meant £23.5k ie bought car and plate for £61,500, sold both for £38,000. Taking out the repairs etc £13.5k may have not been unusual, I'd hope that £23.5k is a bit above the norm for 12 months depreciation, even taking into account retail vs private.
 
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Nosevi said:
Misprint - meant £23.5k ie bought car and plate for £61,500, sold both for £38,000. Taking out the repairs etc £13.5k may have not been unusual, I'd hope the £23.5k is a bit above the norm.
Click to expand...

must have been in the depths of the recession............great 360s were low 40s !.......

my biggest cost was tyres !!...and having the car Valeted every month....:thumbsup:
 
The car was a minter from KHPC. I think the market went against him (we're talking 4 years ago).

Realistically, £60k was retail market value at the time - and this slid heavily across the year. I guess the trade bid at the time was circa £50k so the actual big hitter was the actually the void between trade & retail prices rather than depreciation. He also had the bad luck of a big bill & used the car infrequently
 
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