If you happen to have £100,000 lying about there are lots of things you could buy: a 28ft sports fishing boat, a small flat in Bath “needing work”, or one leg of a racehorse. Alternatively, you could pick yourself up one of the world’s most desirable supercars — the Ferrari 360.

Introduced to Britain in spring 1999, it had a lot to live up to, the outgoing Ferrari 355 being acknowledged as one of the most beautiful and usable Ferraris ever. The 360 didn’t have to be good, it had to be brilliant — and it was.

Beneath the skin the 360 was a quantum leap ahead of the 355. The all-aluminium construction resulted in the stiffest chassis of any car in the world, but it was lighter than the 355 and noticeably quicker. It was also bigger, an extra 9in in length transforming the cabin space and providing room for driver, passenger and a couple of suitcases stored behind the seat backs.

At the heart of the Ferrari 360 is the 3586cc V8, Ferrari’s most powerful normally aspirated V8, producing 400bhp, a 0-62mph time of 4.5sec and a top speed of 183mph. And what a sound it makes. As the revs build past 4000rpm the exhaust note changes from a menacing crackle to a howling wail. It’s undoubtedly one of the most intoxicating automotive sounds in the world.

Drive the car with gusto and the computer-controlled electronic suspension system lets the car corner with an almost total lack of body roll. Ferrari has suggested that as much as 10% of a typical 360’s mileage will be covered on tracks, so be warned — even low-mileage cars may well have been driven hard.

Ferrari offers the choice of two transmission systems in the 360, a standard manual or a Formula One-style electrohydraulic sequential gearbox, both of which are six-speed. Around 70% of 360s have the £6,500 option of the F1 gearbox: with four modes, the driver can choose from normal, sport, automatic and low-grip.

The coupé is known as the Modena and Ferrari expanded the 360 range with the addition of the Spider (convertible) in October 2000. The fully electric roof operation takes just 20 seconds to complete and when down disappears into the body of the car, leaving the clean lines to be fully appreciated. Additional strengthening and a slightly higher windscreen knock 3mph off the car’s top speed but it remains one of the fastest convertibles in the world.

In response to customer demands for an even more extreme 360, Ferrari produced the Challenge Stradale. Available only with the F1 auto gearbox, it costs £23,000 more than the standard 360M and comes complete with stiffer titanium front and rear springs, carbon ceramic brakes and revised aerodynamics that result in a 50% increase in the car’s downforce. With an extra 25bhp, it is the ultimate 360.

Despite it being five years since its launch, nearly new 360s still change hands at above list price, which can tempt some British buyers into seeking a cheaper alternative in a left-hand-drive imported car. While these can look like good value, used buyers need to consider the practical implications of restricted vision when about to execute an overtaking manoeuvre.

The majority of used Ferrari 360s are sold through the 16 official Ferrari dealers and a handful of well-respected specialists. Few right-hand-drive cars find homes for less than £80,000 and buyers have a right to be fussy. Service history should be impeccable, condition should be immaculate and, ideally, the number of registered keepers should be low.

VITAL STATISTICS

Model: Ferrari 360M Coupé
Engine type: V8, 3586cc, quad-cam 40 valve
Power: 400bhp
Transmission: Six-speed manual
Fuel: 17.9mpg (combined)
Acceleration: 0-62mph: 4.5sec
Top speed: 183.mph

Wind deflector: Convertible models come with wind deflector attached to headrests, and twin roll-over hoops.

Convertible: Soft-top versions (known as Spiders) worth £4,000 more second-hand than coupé (Maranello) version.

Air-conditioning: Comes as standard.

Suspension: Electronically controlled, it endows the car with a surprisingly supple ride.

CD player: Incredibly for a £100,000 car, it was originally not standard and buyers had to pay £500 more to upgrade from a tape deck.

Brakes: Huge 330mm cross-drilled Brembo brakes front and rear.

Satellite navigation: Was a £1,528 option when new.

Servicing: Due at 6,500 miles, 12,500 miles and 18,750 miles Ð the last being the largest.

Upholstery: 12 different colours of leather available.

Seats: Can either be conventional Connolly leather or optional carbon-framed bucket seats with four-point safety harnesses.

Storage: Additional luggage storage in nose of the car.

Gearbox: Around 70% of cars have the optional F1 gearbox with paddle shift. It cost £6,500 extra when new and is worth about £2,500 to £3,500 more when second-hand.

Tyres: Rear tyres are nearly 11in wide (275/45 ZR18), front are slightly smaller (215/45 ZR18).

Warranty: Three-year unlimited-mileage warranty on new cars .

THE ONE TO BUY

Ferrari 360M Coupé six-speed manual, Rosso Corsa with Crema hide,1999 T-reg with 10,000 miles. Pay £81,000 at a dealer with 12-month warranty, or £75,000 privately.

OR FOR SIMILAR MONEY...

2003 52-reg Aston Martin DB7 V12 Vantage coupé
2003 03-reg Mercedes-Benz SL55 AMG
1996 P-reg Bentley Continental T coupé
1999 S-reg Lamborghini Diablo VT coupé
2000 V-reg Ferrari 550 Maranello

VALUES: Ferrari 360 Modena



Source: estimates based on confidential CAP black book prices. ‘Trade’ is what a dealer would pay to buy your car; ‘Retail’ is what you would pay a dealer.