Negotiating with a Ferrari Main dealer

Negotiating with a Ferrari Main dealer

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Discussion

RunEveryInchOfTheWorld

1,930 posts

15 months

Friday 26th June 2020
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Stickyone said:
Thought I may as well finish off the thread I started , with the end result.

An ear to ear grin ..... what a car this is, and I am just so pleased with it.



Very nice, so in answer to your own question, how was your negotiation? smile

Stickyone

Original Poster:

34 posts

13 months

Friday 26th June 2020
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RunEveryInchOfTheWorld said:
Very nice, so in answer to your own question, how was your negotiation? smile
Time will tell, although I am happy with the deal. Proof of the pudding is when I knock on the door next year and say. ‘ please sir, can I have a 488GTb 😂

Calculator

705 posts

181 months

Saturday 27th June 2020
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Looks great, enjoy!

DC355

3 posts

13 months

Saturday 27th June 2020
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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.

Stickyone

Original Poster:

34 posts

13 months

Saturday 27th June 2020
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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.

stormblack

107 posts

70 months

Saturday 27th June 2020
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That is a stunning example. Congratulations!

Superleg48

1,336 posts

99 months

Sunday 28th June 2020
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Stickyone said:
Time will tell, although I am happy with the deal. Proof of the pudding is when I knock on the door next year and say. ‘ please sir, can I have a 488GTb ??
Congrats on the new car. Looks wonderful and I am sure you are over the moon. wink

Two issues:

1. You do realise that you cannot actually drive it. At all. If you do, it will be worth 10p and you will have lost all your money.
2. Out of principle, I will never deal with a brand that requires me to earn ownership points in order to qualify to be allowed to go on a waiting list for a particular new car. My money is as good as yours or the next person’s. If I want an F8, why do I have to jump through so many hoops to be considered for one? It’s not even a special limited edition. Brand snobbery of the most outrageous form. Elitist and distasteful.


Saweep

5,854 posts

152 months

Sunday 28th June 2020
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Superleg48 said:
Stickyone said:
Time will tell, although I am happy with the deal. Proof of the pudding is when I knock on the door next year and say. ‘ please sir, can I have a 488GTb ??
Congrats on the new car. Looks wonderful and I am sure you are over the moon. wink

Two issues:

1. You do realise that you cannot actually drive it. At all. If you do, it will be worth 10p and you will have lost all your money.
2. Out of principle, I will never deal with a brand that requires me to earn ownership points in order to qualify to be allowed to go on a waiting list for a particular new car. My money is as good as yours or the next person’s. If I want an F8, why do I have to jump through so many hoops to be considered for one? It’s not even a special limited edition. Brand snobbery of the most outrageous form. Elitist and distasteful.
Two different dealers have offered me F8 builds in the last couple of weeks.

Things have changed...

(tbh they were struggling to sell them at launch given I was offered one then too despite being made to feel like I was being done a favour for some spurious reason they concocted).

PrancingHorses

2,703 posts

173 months

Sunday 28th June 2020
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I've been offered a discount on an F8 and it's still a no from me. Looks like a Lotus!

Superleg48

1,336 posts

99 months

Sunday 28th June 2020
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PrancingHorses said:
I've been offered a discount on an F8 and it's still a no from me. Looks like a Lotus!
Is that a bad thing?

PrancingHorses

2,703 posts

173 months

Monday 29th June 2020
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Superleg48 said:
Is that a bad thing?
I think it is when the car is three times the price of an Evora. Rather get the Lotus biggrin

Francois de La Rochefoucauld

344 posts

44 months

Monday 29th June 2020
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Following this discussion with interest.

I've just been offered 8.3% by FFS on a 2018 Portofino, seems high to me. I've contacted a couple of brokers to see if I can get a better deal and will report back.

Francois de La Rochefoucauld

344 posts

44 months

Monday 29th June 2020
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Francois de La Rochefoucauld said:
Following this discussion with interest.

I've just been offered 8.3% by FFS on a 2018 Portofino, seems high to me. I've contacted a couple of brokers to see if I can get a better deal and will report back.
They've just come back (FFS) with 6.8% over 3 years, better but I'll see what else is available.

Saweep

5,854 posts

152 months

Monday 29th June 2020
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Francois de La Rochefoucauld said:
Francois de La Rochefoucauld said:
Following this discussion with interest.

I've just been offered 8.3% by FFS on a 2018 Portofino, seems high to me. I've contacted a couple of brokers to see if I can get a better deal and will report back.
They've just come back (FFS) with 6.8% over 3 years, better but I'll see what else is available.
I reckon you'll struggle to get them to go any lower.


mercGLowner

1,649 posts

150 months

Monday 29th June 2020
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Francois de La Rochefoucauld said:
They've just come back (FFS) with 6.8% over 3 years, better but I'll see what else is available.
Trouble is brokers will offer lower balloons which drive the monthlies up compared to FFS. If you are happy with that great, but if not 6.8% APR is not so bad. I was offered 6.4% APR from FFS (via Leeds) but no other sweeteners. I decided to take up their offer of 6.8% APR and they paid for a years road tax.

Mr Cod

132 posts

70 months

Monday 29th June 2020
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Stickyone said:
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.
They are owned by Romans/Paul Jaconelli. Strange as companies house shows the company as dormant.

Francois de La Rochefoucauld

344 posts

44 months

Monday 29th June 2020
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Thanks for the replies. Problem is I've now got budget creep!

mercGLowner

1,649 posts

150 months

Monday 29th June 2020
quotequote all
Francois de La Rochefoucauld said:
Thanks for the replies. Problem is I've now got budget creep!
Ha ha, happens to the best of us!

Francois de La Rochefoucauld

344 posts

44 months

Tuesday 30th June 2020
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Following the budget creep theme I've found a 488 I like the look of. However it's a very long way from home. What's the view on buying sight unseen?

Also it has the carbon racing seats, are these comfortable?

PompeyReece

1,150 posts

55 months

Tuesday 30th June 2020
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Francois de La Rochefoucauld said:
Following the budget creep theme I've found a 488 I like the look of. However it's a very long way from home. What's the view on buying sight unseen?

Also it has the carbon racing seats, are these comfortable?
Usually they take a deposit but I grill the sales people with explicit questions so that the answers cannot be argued with should they be less than honest. Just make it clear you're travelling a long way and will expect them to pay travelling expenses if they're being less than honest. A reputable dealer should give you truthful, up front answers. I also arranged an independent inspection which as it comes, saved me from a long journey.

However if you have bottomless pockets ignore the above and buy smile

Seats I think are very much a try and see how you get on.