Same Price Dilemma: Would You Buy A Used Ferrari 360 Or A New BMW M2?

It has always been a challenge for enthusiasts whether they should spend their cash on an older supercar, or a lesser car that might be new but is definitely not in the same league.

Take this Ferrari 360 Modena, for example, which was first registered back in 1999. It comes at £45,000 ($60,162) as the ad posted on AutoTrader reveals, which is roughly what a new BMW M2 costs in Britain.

The vendor says, that despite its age, it “drives very good“, admitting that it was used as a track car, hence the roll cage fitted inside. However, it’s perfectly road legal and was properly maintained over the years, being offered with the service book, original user manuals and two sets of keys.

It’s also allegedly the cheapest Ferrari 360 in the country, being marketed as “a great investment” with “a little cosmetic TLC” by its owner, who has held on to it for the last 9 years.

So, there you have it: a used Ferrari for the same money as a German high-performance coupe. Of course, buying the latter would help you sleep better at night, financially speaking, as it’s well known that an old supercar can be expensive to maintain, but can you resist the opportunity of owning a 360 Modena?

PHOTO GALLERY

  • Six_Tymes

    oh come on. whos the idiot (sorry to insult) but really, is there one person who would choose an M2 with its canted drivers seat over a 360? if so, you do not belong on this site, or any other car enthusiast site.

    • Bo Hanan

      Oh, ok, the 18 year old Ferrari thats been raced (with all of its current and future maintenance problems). Or the M2 that will keep up with it. Hmmm???
      Six_Tymes, you crazy girl.

      • Shane

        LS swap time! 😂

        • Shane

          Or a Ford Voodoo haha

          • Honda NSX-R

            This.

    • pcurve

      *reluctantly raises hand*… haha

      • Mynameis Taylor

        me too!

    • You prefer 360 that has a lot of potentially mechanical wear, damaged exterior and exorbitant maintenance cost? Not this 360 thank you.

    • Honda NSX-R

      I’m an idiot that’ll gladly take the M2 over the 360, maybe if the 360 had the gated manual I’d think twice, but it doesn’t, so M2 it is.

      • Six Thousand Times

        Maybe you also have a canted ass so the seat thing isn’t a problem? 😉

        • Honda NSX-R

          Yeah I like my seats to be canted 😛

    • Mynameis Taylor

      I’d totally take the M2

    • ace_9

      Any sane person with limited budget would take new M2. Especially over almost 19 years old, raced, automatic transmission Ferrari 360 with rollcage.

    • Vassilis

      If it was a 360 in good condition I wouldn’t think twice. This though, no thanks. I’d rather have the M2.

    • FlameWater

      Do some research and come back to us

    • Six Thousand Times

      I think the canted driver’s seat thing is a single-issue obsession. Not that I’m not given to those, mind.

  • This car already gives vibe of problem to me, although the owner claim it’s properly maintained. Let’s be frank, it’s a former track day car. A lot of stuff can go horribly wrong and beside the exterior does look tired. You can spent a lot trying to make it shine again. And beside it’s a regular 360… the price won’t go up for time being.

  • Maz23

    Three red calipers, one silver. Not bad.

    • Six_Tymes

      HA! i did not notice that until now.

    • Belthronding Tinuviel

      target destroyed!

  • thunder bolt

    If this car was in the southern dry weather California for its 18 years of life, the price would have been double, unfortunately it was not. This Ferrari is gonna be high maintenance, and it won’t be £45,000 to get the new owner a bit of driving satisfaction.

  • LWOAP

    With the cost of maintenance and ownership, I’m not sure. Wait. What am I saying? Of course I’d take one. Not this one, though. That roll cage is a bit of an eye sore.

  • Bash

    Up/Down stickers on the steering wheel!!!! smh

    • Shane

      If you look closely you can see the “stop/go” stickers on the brake and gas pedal.

      • Bash

        smh even more, lol (if there is something like that!!)

        • Shane

          Nah I was just joking haha.

          • Bash

            Smh even more now, damn my neck sore now.

  • karmat

    I’m not a huge fan of the 360 so I’d probably choose the M2. Now if it were a rough manual Gallardo for $60k I’d choose that over the M2.

  • Zandit75

    Neither. Audi RS3 Saloon thanks.

  • Ary Wisesa

    For sure I would buy the Ferrari and take a good care of it, even though it will very expensive. But surely it the next 10-15 years, a good condition Ferrari would make more than enough appreciation to compensate all its costs. Meanwhile, in the next 10 years, the BMW will surely deteriorate and becoming a pile of junk with no value at all.

    • I disagree, 360 value will remained stagnant because there are simply too many of them. And this is regular 360 without any particularly special equipment or history. If you want to keep it though, make sure you restore it (it definitely won’t be cheap at all) and kept it for at least 30-40 years when their value start to increase (If we look at 308 cases).

      BMW M2 meanwhile is considered modern E30 and I’m sure the value won’t go up but at least would be stable enough. And talk about deteriorating, have you seen how much E30 M3 go for these days?

      Of course I’m speaking like Quentin Wilson in some UK car dealer. In Indonesia I presumed there aren’t many 360 around.

      • Ary Wisesa

        Well, Indonesia is a bit weird used car place. People are a bit brand-minded here. An old Mercedes coupe (like C124) still has value around USD15,000. A C209 CLK 320 could sell as much as USD35,000. Meanwhile, an E34 530i that from the same year as MB, priced only around USD3,500. The BMW is generally not as popular as MB due to lower perceived prestige than MB, and its image is also tarnished by lower reliability, higher maintenance and parts cost. Audi and Volvo also suffer similar bad depreciation issues.

        Mercedes is perceived as more prestigious than other premium brands (BMW, Audi, and Volvo). That’s why it holds its value very well. Only Lexus (which only been introduced in 2008) is perceived even more reliable, albeit not as prestigious as Mercedes yet. But still used Lexus cars still retain their values quiet well.

        So, imagine what “Ferrari” name can do. The name itself is perceived as ultra-luxury brand, that only real rich people could afford. No matter how old the model, people would be astonished if you drive (any) Ferrari. It will make you fall into the ultra exclusive club of Ferrari owners. So no wonder, here Ferrari not only “retains’ its value, it actually appreciates. And it could make a good investment.. 🙂

        • I think it’s not about brand minded, Indonesians simply don’t have a lot of “sports” car per say, like most of Southeast Asian country. So a two door car can be considered special and remember Indonesian history that banned pretty much all imported cars from 70s to 1998. So it’s only then Indonesians able to enjoy luxury cars properly, even in the early days there aren’t enough Ferrari coming in because of the post recession economy and still new concept of CBU cars.

          If they relaxed the importation law and actually imported RHD cars then I’m sure a lot of people will buy Singaporean, Japanese and British car and pretty much change how the collectable cars there. But Ferrari are generally overrated, you can’t use it in most Indonesian roads and the owners club is gathering of rich people and not enthusiast as in UK.

          • Ary Wisesa

            Good point! I agree with you. It’s just a matter of supply and demand: there are so few two-door cars here. That’s why sports cars are still seen as exclusive. Because this body style is not as popular as MPV or SUV.

            In US, family car is mainly in form of family sedan or crossover. In Europe (pardon me if I’m wrong) hatchback & crossover (not necessarily with 7-seats) rules. Maybe in both US and Europe the “family” usually refers to “small family” (eg: 2 parents + 2 kids, or maybe 1 parents with kids), so they don’t need many seats. Here in Indonesia, 7 seater MPV or SUV rules the market, because “family” in Indonesia means extended family (2 parents + 2-3 kids + grandparents, and even the house maid. LOL.. ) . Toyota Innova and Toyota Avanza (both with 7-8 seats) are very popular here and they dominates the Indonesian market.

            So yeah, the demand of two-seater cars is very tiny. Cars are still considered luxury items here that many can’t afford. Unlike US that sees cars as “normal” possession, perhaps no more than 5% Indonesian population have cars. (Annual car sales is around 200.000 units here, and total population is +/- 250million). So whenever people have chance to buy one, they would chose one that can accommodate as many as family members.. 🙂

          • I don’t think it’s because practicality either. Sportscar are expensive in Indonesia because of the import duty and the fact that they are considered luxury product (even cars like Daihatsu Kopen) and therefore they are priced accordingly. Which is ironic that “sportscar” are generally regarded as “fast” car in Indonesia. Even in Golf GTI can outrun them.

            And out of the topic about US and European car market in general. They are both had different characteristic all together. In US especially outside big cities, car is a necessity because they travel quite far from one place and another. And while Saloon and Pickup are the big seller there, Minivan (Indonesians will know it as MPV) is a big seller as well although now their sales has gone down thanks to SUV. And family can be quite a lot in US.

            For Europe and to generalize it, having small cars is easier to live with, cheaper and less tax.

            And no, not all Americans can afford cars mate, and it’s even worse in Europe thanks to the taxes. The lack of sportscar in Southeast Asia is simply because high price it commands. In Malaysia however thanks to Japanese used car import. Sportscar aren’t that expensive but the maintainance it can drained you out.

  • GobbleUp

    Go drive a 360 and you will quickly see how dated it is. Pass.

  • Mynameis Taylor

    the M2

  • BobV12

    This one is no match, a red Scuderia would better suit the question

    • You mean Challange Stradale? That one is considered collector item and I doubt you can find a price like that 360 in this article.

  • fabri99

    The 360 is for me one of the best looking modern Ferrari. Tempting as it is, I can’t get over how old it is, how much it still costs and how…used it looks. It’s not “pristine”. Yeah, the Ferrari has the cool factor, but the M2 is on the same level performance-wise, is likely to be more reliable than a 20 years-old Ferrari and mantainance won’t cost you an arm and a leg. So, yeah, M2 for me.

    • Totally agree, it’s major departure from 355 and it’s still pretty much “analogue” per say. But I would looking for better condition and desirable spec such as that gated manual transmission. But I would go for M2 if we talk about this particular Ferrari.

  • Auf Wiedersehen

    I can say you couldn’t give me this particular example of the 360. But from a maintenance and reliability standpoint, hands down the M2. Cost of entry does not indicate the cost of maintaining.

  • nastinupe

    If it wasn’t my DD then I’d take the Ferrari 360 and paint it Rosso Corsa… and paint the calipers to match. If it was my only car then I’d take the BMW M2. It’s that simple for me.

  • An Existing Person

    If it’s not manual, the 360 isn’t particularly special to drive and is incredibly dated. I’ll take the M2.

  • Jørn-tommy Skjellnes

    A new Bmw M2 , a brand new car with garantie ,is better that a used 360 modena at any time 🙂

  • Rob Banks

    Question should be: Should you buy a new Ford GT, or should you buy the car they reversed engineered to build it and save half a mill? But to answer the question, anyway, I’d go 360 just because I spent so much time drooling over it in my youth.

  • robotlogic

    M2 Please, tall people don’t fit in those older 360s.

  • brn

    None of the above. For $60K, I want something that won’t spend half its life in the shop, draining my bank account. The M2 might be OK while there’s still a warranty, but then I’d have to sell it.

  • Shahul Usman

    You can always get a C7 grand sport or Z06 corvette that’ll smash them both…

  • smartacus

    i would NEVER buy an M2!
    purported to arrive with 400HP,
    then 395,
    then 390,
    then 385,
    then 380,
    then 375,
    then 370,
    then finally 365
    in order to not step on the toes of the M3/M4.
    …meanwhile a CLA45 has more HP from a 2.0t.

    • smartacus

      …not saying i’d get a used up 360 either

  • innotech .

    M2. 360 is hideous

  • S3XY

    Neither. Both slow gas guzzlers.

  • Six Thousand Times

    Probably not THAT Ferrari but it would be fun to have one. As long as I had a daily driver already and a fortune for spares and service. Otherwise, it’d be the M2.

  • sidewaysspin

    Age old question!

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