Negotiating with a Ferrari Main dealer
Discussion
Oaky said:
Carwow PCP Calculator thinks £93k, £13k, £1k, 24 mths is 8.65%APR.
Can somebody explain why the numbers quoted by Ferrari don't actually add up on the calculators,So I did what we all do and got carried away and moved my deposit over from a Cali T to a Portofino. I felt I was viewing the Cali T as a stepping stone to a Portofino so in the long term, I'd be better just paying a bigger deposit now and keeping the car longer instead of keeping the Cali for 24 months then having to cough up another deposit for a Portofino.
So here's the initial quote they gave me for the Portofino:
Price: £162,000
Deposit: £24,500
Balloon: £89,100 (55%)
APR 8.2% (Funny I said the APR needs to be in the 6's and he said ( I think I can do that lol)
Monthly £1662
If you put these numbers into a PCP calculator it comes out as 1,794.98, what am I missing? As the other guy mentions above the numbers they gave me the first time didn't add up either
Turns out the car they were selling me didn't have apple car play (I stupidly assumed this was standard before watching a YT video on them) so this deal is now dead in the water so need to keep on the lookout for another one.
chrisbell08 said:
Can somebody explain why the numbers quoted by Ferrari don't actually add up on the calculators,
So I did what we all do and got carried away and moved my deposit over from a Cali T to a Portofino. I felt I was viewing the Cali T as a stepping stone to a Portofino so in the long term, I'd be better just paying a bigger deposit now and keeping the car longer instead of keeping the Cali for 24 months then having to cough up another deposit for a Portofino.
So here's the initial quote they gave me for the Portofino:
Price: £162,000
Deposit: £24,500
Balloon: £89,100 (55%)
APR 8.2% (Funny I said the APR needs to be in the 6's and he said ( I think I can do that lol)
Monthly £1662
If you put these numbers into a PCP calculator it comes out as 1,794.98, what am I missing? As the other guy mentions above the numbers they gave me the first time didn't add up either
Turns out the car they were selling me didn't have apple car play (I stupidly assumed this was standard before watching a YT video on them) so this deal is now dead in the water so need to keep on the lookout for another one.
Id love a Portofino next, my Cali T is delivered on Saturday. I also love a bit of ‘mission creep’ ha ha! So I did what we all do and got carried away and moved my deposit over from a Cali T to a Portofino. I felt I was viewing the Cali T as a stepping stone to a Portofino so in the long term, I'd be better just paying a bigger deposit now and keeping the car longer instead of keeping the Cali for 24 months then having to cough up another deposit for a Portofino.
So here's the initial quote they gave me for the Portofino:
Price: £162,000
Deposit: £24,500
Balloon: £89,100 (55%)
APR 8.2% (Funny I said the APR needs to be in the 6's and he said ( I think I can do that lol)
Monthly £1662
If you put these numbers into a PCP calculator it comes out as 1,794.98, what am I missing? As the other guy mentions above the numbers they gave me the first time didn't add up either
Turns out the car they were selling me didn't have apple car play (I stupidly assumed this was standard before watching a YT video on them) so this deal is now dead in the water so need to keep on the lookout for another one.
If it’s the Rosso car in Birmingham, it’s a stunner. Are you saying that it’s off, as it doesn’t have Car Play?
I was in Leeds on Saturday, they have a brand now Rosso/Crema Portfino in the showroom, it’s a cancelled order, £200k list and it’s for sale at £185k, might be worth a call.
Re finance, I get too roughly £1662 using 6.8% APR and assumes a 4 year term.
Stickyone said:
Id love a Portofino next, my Cali T is delivered on Saturday. I also love a bit of ‘mission creep’ ha ha!
If it’s the Rosso car in Birmingham, it’s a stunner. Are you saying that it’s off, as it doesn’t have Car Play?
I was in Leeds on Saturday, they have a brand now Rosso/Crema Portfino in the showroom, it’s a cancelled order, £200k list and it’s for sale at £185k, might be worth a call.
Re finance, I get too roughly £1662 using 6.8% APR and assumes a 4 year term.
Well brum have one with the good wheels and no car play and one with bad wheels that has car play but they've offered to upgrade the wheels on the one with car play so may still go with them.....If it’s the Rosso car in Birmingham, it’s a stunner. Are you saying that it’s off, as it doesn’t have Car Play?
I was in Leeds on Saturday, they have a brand now Rosso/Crema Portfino in the showroom, it’s a cancelled order, £200k list and it’s for sale at £185k, might be worth a call.
Re finance, I get too roughly £1662 using 6.8% APR and assumes a 4 year term.
However, I think a trip to Leeds may be on the cards tomorrow
Stickyone said:
Id love a Portofino next, my Cali T is delivered on Saturday. I also love a bit of ‘mission creep’ ha ha!
If it’s the Rosso car in Birmingham, it’s a stunner. Are you saying that it’s off, as it doesn’t have Car Play?
I was in Leeds on Saturday, they have a brand now Rosso/Crema Portfino in the showroom, it’s a cancelled order, £200k list and it’s for sale at £185k, might be worth a call.
Re finance, I get too roughly £1662 using 6.8% APR and assumes a 4 year term.
How much wiggle room do you think they will have on the price when its new? My biz partner brought a Lamborgini Evo yesterday and he got £35k off listIf it’s the Rosso car in Birmingham, it’s a stunner. Are you saying that it’s off, as it doesn’t have Car Play?
I was in Leeds on Saturday, they have a brand now Rosso/Crema Portfino in the showroom, it’s a cancelled order, £200k list and it’s for sale at £185k, might be worth a call.
Re finance, I get too roughly £1662 using 6.8% APR and assumes a 4 year term.
Saweep said:
There's a brand new Tailor Made Black Portofino at Edinburgh with a silver thin stripe down the side. Too toppy for me at 250k but it really is spectacular.
God knows where it's come from but I suspect there is a great deal on the table to someone!
yeah this one probably outside of my budget too unfortunately God knows where it's come from but I suspect there is a great deal on the table to someone!
chrisbell08 said:
How much wiggle room do you think they will have on the price when its new? My biz partner brought a Lamborgini Evo yesterday and he got £35k off list
The conversation I had with the salesman was that they don’t discount brand new at all.I personally think it would be a brave move to buy new when the initial deprecation is quite steep. There is a 2019 Rosso Portofino on the Ferrari website for £159k which has Apple Car Play And 3000 miles.
Stickyone said:
The conversation I had with the salesman was that they don’t discount brand new at all.
I personally think it would be a brave move to buy new when the initial deprecation is quite steep. There is a 2019 Rosso Portofino on the Ferrari website for £159k which has Apple Car Play And 3000 miles.
I think it depends on how long you want to keep the car, if you have gap insurance and are going to keep the car for 3 years then you'll be fine. If your keeping a car 12-18 months new isn't a good idea lolI personally think it would be a brave move to buy new when the initial deprecation is quite steep. There is a 2019 Rosso Portofino on the Ferrari website for £159k which has Apple Car Play And 3000 miles.
chrisbell08 said:
Stickyone said:
The conversation I had with the salesman was that they don’t discount brand new at all.
I personally think it would be a brave move to buy new when the initial deprecation is quite steep. There is a 2019 Rosso Portofino on the Ferrari website for £159k which has Apple Car Play And 3000 miles.
I think it depends on how long you want to keep the car, if you have gap insurance and are going to keep the car for 3 years then you'll be fine. If your keeping a car 12-18 months new isn't a good idea lolI personally think it would be a brave move to buy new when the initial deprecation is quite steep. There is a 2019 Rosso Portofino on the Ferrari website for £159k which has Apple Car Play And 3000 miles.
I'd give Ferrari finance a miss. They are expensive. You can pay half the rate elsewhere. I suggest you contact https://www.elev8finance.co.uk/ who Romans International use. I've used them a few times. Rate typically 3-3.5%. They are used to dealing with high end car HP.
DC355 said:
I'd give Ferrari finance a miss. They are expensive. You can pay half the rate elsewhere. I suggest you contact https://www.elev8finance.co.uk/ who Romans International use. I've used them a few times. Rate typically 3-3.5%. They are used to dealing with high end car HP.
Really? I’ve never heard of Elev8 finance, I presume they use a panel of lenders similar to Oracle/JBR Capital and other brokers. I have never seen a quote below 5.9% APR from any of them, so would be surprised if this broker can do any better, unless if it’s for HNWI, not ‘run of the mill’ clients. (Like me). Maybe the typical figures you state (3-3.5%) is actually flat rate, so double it roughly to get the APR.Ferrari finance are not any generally more expensive, in APR terms, that any other finance provider. The difference is the FFS is owned by Ferrari themselves.
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