Man bought a 120k mile Ferrari 360 but then discovered $110k in repair bills

A Ferrari 360 buyer picked up a high-mileage supercar thinking it was a smart purchase, only to uncover massive repair bills and an engine replacement.

The Ferrari 360 had over 120,000 miles but came with complete service records, leading the owner to believe it was a reliable deal despite being a high-mileage supercar.

That confidence faded fast when the repair bills stacked up, with one engine replacement alone costing $53,000.

In total, the owner has spent over $110,000 in repair bills to keep the car on the road.

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Unlike most collectors chasing ultra-low-mileage examples, this owner was drawn to the Ferrari 360 because of its high-mileage supercar status.

With nearly 120,000 miles and a thorough service record, it seemed like a dependable and well-maintained option.

Many enthusiasts believe a driven car with documentation can be a safer bet than one that has sat unused. Like this guy, who buys the Ferraris that no one else wants.

But in this case, the idea was to own a Ferrari 360 that had proven itself mechanically, rather than risk unseen issues in a showroom-grade example.

Such optimism didn’t last long, however. Speaking with Hamid Mossadegh from Hamid Tailormade Cars, the buyer revealed more than $110,000 in repair bills had piled up over time.

The most significant cost was an engine replacement, which came to $53,000 alone.

That major repair was only the beginning. Timing belts, fluids, sensors, and other components added thousands more to the total.

Aside from the engine replacement, the Ferrari 360 also required a new gearbox and clutch.

The car came with Ferrari’s F1-style semi-automatic transmission, which isn’t as desirable as the traditional manual but was state-of-the-art when introduced.

Keeping that system running contributed significantly to the overall repair bills.

Between software updates, clutch wear, and hydraulic issues, the costs added up quickly and repeatedly.

Despite all the repairs, the owner now values the Ferrari 360 at roughly $80,000.

With a new engine, transmission, and refreshed components throughout, it performs better than many lower-mileage examples.

Still, the car’s high-mileage supercar status and the remaining original body and interior parts raise questions about long-term reliability.

The repair bills could continue to grow with every additional thousand miles added to the odometer.

This Ferrari 360 story shows what can happen when passion meets reality.

While the idea of buying a high-mileage supercar might seem appealing on paper, the reality of unexpected repair bills and the need for a full engine replacement can quickly outweigh the initial savings.

For those willing to take the risk, the reward is a car that still sounds and drives like a Ferrari, but it comes at a price.