[ChiragM]

Of the handful of Ferrari 360s present in the country, one was destroyed in an accident in 2006. The car burst into flames upon impact and suffered extensive burn damage to the body and internals. Now, according to an Instagram post, the current owner of the supercar has decided to restore it.



From the pictures posted, it is clear that the restoration will not be easy. While the front part of the vehicle has suffered minimal damage, the rear has been completely destroyed. The interior lies in ruins with missing parts and the engine has extensive burn damage. The front right door has also been damaged. The entire rear section of the car, including the chassis, is missing and is held up by a temporary wheel. The fabric soft-top will also need to be replaced.

It is believed that there are just 4 Ferrari 360s in the country, out of which 3 are convertibles.







Image Source: Car Crazy India

Link to Team-BHP News

[no_fear]

ummm, sorry but what is he restoring? The car is just a shell with more than 80% stuff missing. Just getting the rest of the parts is probably more expensive than buying a used Ferrari 360 and importing it as an art decoration...

The only worthwhile option is to cut the front half and make one of the following options

1. Racing simulator
2. Children's bed
3. Restaurant decoration with the front of the car jutting out of the wall

[LONG_TOURER]

How did the owner managed to get hands on this particular car. As per sources, this car was a total loss and in case of a total loss the vehicle possession is held with the insurance company if i am not wrong.

[no_fear]

Originally Posted by LONG_TOURER

total loss the vehicle possession is held with the insurance company if i am not wrong.

Insurance companies can auction it off - usually to scrapyard, junk dealers, or for export overseas. I guess the owner bought it from the insurance company. I don't know how he will register it. That's another headache.

[Big Smoke]

Originally Posted by ChiragM

Now, according to an Instagram post, the current owner of the supercar has decided to restore it.

The owner has to be someone with really deep passion & really deep pockets. There can be nothing more satisfying than bringing a rare car back to its past glory. The Ferrari 360 is a fine example of a car that deserves this treatment.

Originally Posted by no_fear

ummm, sorry but what is he restoring? The car is just a shell with more than 80% stuff missing. Just getting the rest of the parts is probably more expensive than buying a used Ferrari 360 and importing it as an art decoration...

I'm highly doubtful of your assumed cost involvement in the project, fellow BHPian.

Firstly, that more than 80% of the car is missing is a highly debatable matter. Let us keep that consideration aside.
Secondly, coming to the part of importing a Ferrari 360 in India: England is the only country where one will find a used Right Hand Drive Ferrari 360 which can be imported to India. A quick eBay search yields the result of the average price being a bit more than 60000 GBP. On that price, the Indian Customs department will charge-

1. Import Duty: 125% (for used cars).
2. Landing Charges: 1%.
3. Countervailing Duty: 30% + Rs. 200000 per vehcle.
4. CESS Rate: 3%.
5. Additional Countervailing Duty: 4%.

Over and above this, just port to port shipping from Felixstowe, UK to Nhava Sheva, Mumbai can cost anywhere between 1100-1500 GBP (and this was the rate pre-covid, they will undoubtedly charge more now).

A rough calculation of the above-mentioned rates will yield a whopping figure of approx. 178,000 GBP i.e. 1.85 Crores.

I am very confident that the total cost of importing parts and restoration would not even touch 40% of the above-mentioned cost. Hence, restoring the car is a step in the right direction.
And just to add to that, I'm pretty sure that the owner is restoring the car to drive it and not use it as an art decoration.

Originally Posted by LONG_TOURER

How did the owner managed to get hands on this particular car. As per sources, this car was a total loss and in case of a total loss the vehicle possession is held with the insurance company if I am not wrong.

You are partially right, fellow BHPian. The car is in possession of the insurance company until it is auctioned off. There are dealers who buy these Insurance write-off cars in auctions and sell them for parts.
Here is an excellent write-up explaining the process in detail by fellow BHPian & lawyer kaholster. https://www.team-bhp.com/forum/india...rite-offs.html (My experience with luxury cars that were salvage / insurance write-offs)

[no_fear]

Originally Posted by Big Smoke

The owner has to be someone with really deep passion & really deep pockets. There can be nothing more satisfying than bringing a rare car back to its past glory. The Ferrari 360 is a fine example of a car that deserves this treatment.

I'm highly doubtful of your assumed cost involvement in the project, fellow BHPian.

If the owner can manage it at a fraction, kudos to him and awesome to see the car come to life. Parts can be sourced from Japan. There are quite a few 360s there.

The engine looks toast though. Can it be salvaged or owner needs to source another engine?

[Big Smoke]

Originally Posted by no_fear

The engine looks toast though. Can it be salvaged or owner needs to source another engine?

The engine can be salvaged. The big metal parts like engine block, cylinder head, Pistons seem to have suffered minimal damage.
From the photo, it seems the fire started from the underside (near fuel tank's location), and was making its way to the top via the front right side of the engine, right when it seems to have been extinguished.

Not sure about the damage to the underside of the engine, and the gearbox. By the looks of it, major part replacements would be wiring, including new ECU, rubber bushes, other rubber & plastic parts including fuel tank, coolant expansion tank, timing belts, only to name a few. Don't know what's the condition of the radiator, transmission, etc.

But conclusion is, engine can be salvaged. I've seen engines in much worse state being brought back to life. For reference, check this out: https://www.team-bhp.com/forum/vinta...-roadster.html

[no_fear]

Originally Posted by Big Smoke

But conclusion is, engine can be salvaged. I've seen engines in much worse state being brought back to life. For reference, check this out: https://www.team-bhp.com/forum/vinta...-roadster.html

LOLLLLL!!!!! You are going to enjoy the coincidence.
That is Pallab Roy and his son Sourav Roy - the vintage car restorers. They are my close family friends. The Studebaker in the thread, I rode in that car a few times as a kid. Good ole' times.

[v1p3r]

Originally Posted by Big Smoke

Secondly, coming to the part of importing a Ferrari 360 in India: England is the only country where one will find a used Right Hand Drive Ferrari 360 which can be imported to India.

Malaysia, Indonesia, Thailand, Australia, New Zealand, HK, Kenya and Japan are the larger or more prosperous ones from where you can find an RHD 360 to export. However, read on to find out why you can't import it.

Originally Posted by Big Smoke

A quick eBay search yields the result of the average price being a bit more than 60000 GBP. On that price, the Indian Customs department will charge-

1. Import Duty: 125% (for used cars).
2. Landing Charges: 1%.
3. Countervailing Duty: 30% + Rs. 200000 per vehcle.
4. CESS Rate: 3%.
5. Additional Countervailing Duty: 4%.

I am afraid it's not that simple. You can't import an F360 into India unless you already own it abroad for over a year, and have lived abroad for the vast majority of the two years preceding the import date. Otherwise, used cars can only be imported if they are less than three years old, and the Modena isn't.

However, if you import auto parts, the BCD is about 15%. For scrap metal (which is how a lot of used parts come in), it's even lower - often 5-10% depending on the metal composition. Add to these the education/cleanliness/pavbhaji surcharges and GST, and you'll still end up below 50%. Of course, the invoice value is also 'negotiable', if you pay enough pavbhaji surcharge.

So now you have the ability to buy used or new parts, ship them to India, and restore this car. Seeing as how automobiles are built very modularly, to maximise repair possibility, this is what is likely to happen. Since you're importing individual parts, there is no need to source them from an RHD country - hell, I would buy directly from Maranello.

I have some knowledge of the restorer, and I fully expect a great job from him.

[Big Smoke]

Originally Posted by no_fear

LOLLLLL!!!!! You are going to enjoy the coincidence.
That is Pallab Roy and his son Sourav Roy - the vintage car restorers. They are my close family friends. The Studebaker in the thread, I rode in that car a few times as a kid. Good ole' times.

That is indeed great! I'm sure that the Roys must be having a pool of knowledge regarding restoration of cars. And you must have enjoyed all of that experience!

Originally Posted by v1p3r

Malaysia, Indonesia, Thailand, Australia, New Zealand, HK, Kenya and Japan are the larger or more prosperous ones from where you can find an RHD 360 to export.

Thanks for the information. As a matter of fact, I am aware of the prospect of importing cars from these countries. But considering UK has a substantially higher number of F360s, the UK seemed a more logical proposition to me.

I am afraid it's not that simple. You can't import an F360 into India unless you already own it abroad for over a year, and have lived abroad for the vast majority of the two years preceding the import date. Otherwise, used cars can only be imported if they are less than three years old, and the Modena isn't.

Thanks for this very useful information. It's a really helpful piece. And all these laws make importing a used car to India almost impossible

However, if you import auto parts, the BCD is about 15%. For scrap metal (which is how a lot of used parts come in), it's even lower - often 5-10% depending on the metal composition. Add to these the education/cleanliness/pavbhaji surcharges and GST, and you'll still end up below 50%. Of course, the invoice value is also 'negotiable', if you pay enough pavbhaji surcharge.

That explains why Indian enthusiasts are ready to restore heaps of rusted, vintage metal pilings which were previously automobiles.

I have some knowledge of the restorer, and I fully expect a great job from him.

Really looking forward to a great restoration.

Cheers.

[SnS_12]

Since the car was damaged in a fire and has been sitting idle in this state since 2006, it would definitely need a lot or parts to be replaced/rebuilt.

New wiring harness, rubber parts, ECU ( I think this one has 2), will be the easier parts to source but god alone knows what parts need to be replaced to get that engine up and running again.

Also, considering everything needed needs to be imported down does it look like a 7 or a 8 digit rebuild cost?

[SenPai_GTi]

Let us consider for a while that the car has been restored. The only thing will bother me is that the chassis has been cut in half and has been welded together, with two different sections having different wear(i.e. if he uses the intact rear half of a donor car ). I know that this car might be used for occasional runs, rallies or car shows, but its track days are over. One simply cannot bring back the loss of torsional stiffness that the half welded chassis will endure, even if it has been welded with the best practices. Once you lose the chassis stiffness, you lose the whole handling department and eventually lose the confidence.

If the owners are making this to be a show car or an occasional driving car, it will be an awesome collect. But if this car intends to go on track, I would suggest the owner to spend at least 24-48 track hours before giving it a full send, or to add chassis stiffeners, which would add to the weight. Regardless of the above factors, it is a win-win situation for all of us because we get to see Ferrari 360 in its full glory.

[Nilesh5417]

Sometimes it's best to let go - this seems like one of those times. Totally agree with @Sen above - it will never be the same car again and probably the restoration isn't going to up its value at all. So a garage queen mostly after the enthusiast is done with his crazy engineering project. He must want it really bad for some reason ....

[v12]

I believe more than a restoration, getting this car ina running shape is going to be nothing short of a miracle or a resurrection. I agree its almost an impossible task to get it running but if this Bristol 400 (1948 Bristol 400 - Resurrection against all odds!) could be exhumed from its grave and restored, why not the 360?

The real half of the car is a total mess along with the engine. The engine may be salvaged. For the body, there can be different options that the restorer can opt for
- a 360 sedan
- a 360 Station wagon
- a 360 Shooting Brake (my fav)

I would only pray that this 360 either ends up as a donor car or is restored. would be sad to see it end up as a furniture.

[Foxbat]

Apparently something like this has been done before(although not in India) with good results.

A Ferrari Enzo, a 2004 model, was split in two and its engine and much of its rear section flung across the road in 2006.







Incredibly, the car wasn’t a complete write-off as someone restored it and has now sold it at an RM Auctions event in Paris for a cool $1.75 million in 2016.
Navigation, Bose audio, a rear backup camera and power windows were added to the repaired car. The car was painted black or Nero Daytona,

The car which bears chassis #135564, has been certified by the Ferrari Classiche classic car department and comes with just over 1,500 miles on the odometer.



Source: https://www.motorauthority.com/news/...nd-up-for-sale