Negotiating with a Ferrari Main dealer

Negotiating with a Ferrari Main dealer

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Discussion

Coxey

183 posts

72 months

Tuesday 22nd September 2020
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Thanks for all the comments really helpful. Spoke with the dealer today and asked him to try harder on the apr. To be fair I have only just started to look so early doors. I am considering hp or even buying it outright as I say early doors at the moment and want to what will happen to prices as the “nights draw in”.....

Drclarke

1,088 posts

138 months

Tuesday 22nd September 2020
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So you have been looking and negotiating for nearly four months now?

One day you will realise how short and precious life and memories are rolleyes


Beaver

928 posts

249 months

Tuesday 22nd September 2020
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Have just agreed 6.4 with FFS on a California if that helps.


footsoldier

1,907 posts

157 months

Tuesday 22nd September 2020
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Taffy66 said:
I asked my dealer about the 5% APR through FFS and he said it only applied to GTC4 Lussos and subsided by Ferrari..

Edited by Taffy66 on Tuesday 22 September 16:41
I’m guessing that might suit him to say that...but no skin in the game!

I was offered a brand new Lusso from stock with the Ferrari incentive inc £50k off, (same deal on 812s).

My Lusso was a direct trade in, it came in one day and out to me the next, so I doubt Ferrari needed to incentivise. They started at 6.9 or so and I told them I’d rather pay for it. Deal was done, deposit paid. Two days before they came back at 4.8%. The only upside for them was in providing finance - car was sold at an agreed price already

Taffy66

4,463 posts

67 months

Tuesday 22nd September 2020
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footsoldier said:
I’m guessing that might suit him to say that...but no skin in the game!

I was offered a brand new Lusso from stock with the Ferrari incentive inc £50k off, (same deal on 812s).

My Lusso was a direct trade in, it came in one day and out to me the next, so I doubt Ferrari needed to incentivise. They started at 6.9 or so and I told them I’d rather pay for it. Deal was done, deposit paid. Two days before they came back at 4.8%. The only upside for them was in providing finance - car was sold at an agreed price already
That's incredible but i suppose things are different in Edinburgh compared to the Cotswolds...Did the £50k discount also apply for 812s or have i misunderstood your post.

Saweep

5,835 posts

151 months

Tuesday 22nd September 2020
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Taffy66 said:
footsoldier said:
I’m guessing that might suit him to say that...but no skin in the game!

I was offered a brand new Lusso from stock with the Ferrari incentive inc £50k off, (same deal on 812s).

My Lusso was a direct trade in, it came in one day and out to me the next, so I doubt Ferrari needed to incentivise. They started at 6.9 or so and I told them I’d rather pay for it. Deal was done, deposit paid. Two days before they came back at 4.8%. The only upside for them was in providing finance - car was sold at an agreed price already
That's incredible but i suppose things are different in Edinburgh compared to the Cotswolds...Did the £50k discount also apply for 812s or have i misunderstood your post.
There are significant discounts on Portofinos available too.

Times have changed.

Durzel

9,774 posts

133 months

Wednesday 23rd September 2020
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In my limited experience when searching for cars Ferrari Edinburgh have always seemed to be an outlier in terms of being allowed to stray from the rest of the network pricing. They’ve always seemed to be a good few thousand cheaper than the rest of the country.

Coxey

183 posts

72 months

Wednesday 23rd September 2020
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Drclarke said:
So you have been looking and negotiating for nearly four months now?

One day you will realise how short and precious life and memories are rolleyes
Er no went to see the car on Saturday so that’s 4 days....

Djit

137 posts

55 months

Wednesday 23rd September 2020
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I’m interested in this point too. Been watching the nearly new 812 prices lately (prices dropped £40k over 4 months) as I’m interested in buying one. Been scratching my head on why a 6 month old car would have dropped £70k + and why so many owners would be chopping in with such a hit (even in these times). An element will be upgrading to GTS but there is still a lot who won’t . Makes more sense if there are £50k discounts on high specced new cars - if that’s the case. One heck of a car at £240k with sub 1k miles IMO.

Taffy66 said:
footsoldier said:
I’m guessing that might suit him to say that...but no skin in the game!

I was offered a brand new Lusso from stock with the Ferrari incentive inc £50k off, (same deal on 812s).

My Lusso was a direct trade in, it came in one day and out to me the next, so I doubt Ferrari needed to incentivise. They started at 6.9 or so and I told them I’d rather pay for it. Deal was done, deposit paid. Two days before they came back at 4.8%. The only upside for them was in providing finance - car was sold at an agreed price already
That's incredible but i suppose things are different in Edinburgh compared to the Cotswolds...Did the £50k discount also apply for 812s or have i misunderstood your post.

RunEveryInchOfTheWorld

1,846 posts

14 months

Wednesday 23rd September 2020
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As much as I would like a Ferrari, those numbers do not seem to make much sense to me. £60k + ~£900pcm to rent a car for 3yrs, have I got that right?

I would be looking to buy a California for £60k outright, instead.


garystoybox

463 posts

82 months

Wednesday 23rd September 2020
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Djit said:
I’m interested in this point too. Been watching the nearly new 812 prices lately (prices dropped £40k over 4 months) as I’m interested in buying one. Been scratching my head on why a 6 month old car would have dropped £70k + and why so many owners would be chopping in with such a hit (even in these times). An element will be upgrading to GTS but there is still a lot who won’t . Makes more sense if there are £50k discounts on high specced new cars - if that’s the case. One heck of a car at £240k with sub 1k miles IMO.

Taffy66 said:
footsoldier said:
I’m guessing that might suit him to say that...but no skin in the game!

I was offered a brand new Lusso from stock with the Ferrari incentive inc £50k off, (same deal on 812s).

My Lusso was a direct trade in, it came in one day and out to me the next, so I doubt Ferrari needed to incentivise. They started at 6.9 or so and I told them I’d rather pay for it. Deal was done, deposit paid. Two days before they came back at 4.8%. The only upside for them was in providing finance - car was sold at an agreed price already
That's incredible but i suppose things are different in Edinburgh compared to the Cotswolds...Did the £50k discount also apply for 812s or have i misunderstood your post.
I’d enquired re 812 very recently and nothing like that type of deal on the table, but was offered the low finance £50k off stock Lusso. Was some give in heavily optioned car but you were still going to be £50k down walking out the door and handing back the next day. Used vehicles making much more sense and there are deals to be done over asking prices. I’ve bought my last four from Edinburgh. Still feel the markets are going to be carnage over the winter and just not the stomach for blowing my load again on a new toy, when the one I’ve got is totally fantastic. Seems really sensible just to keep what you’ve got, enjoy it and see how things pan out next year.

footsoldier

1,907 posts

157 months

Thursday 24th September 2020
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Taffy66 said:
That's incredible but i suppose things are different in Edinburgh compared to the Cotswolds...Did the £50k discount also apply for 812s or have i misunderstood your post.
I bought it from HRO in London!
Ferrari put up £50k incentives on stock (new) 812 coupes and Lussos in July to help dealers shift. I was told some were left over from people who walked away from deposits after Covid and values on the slide. Still worth asking, I don’t know what’s left.

Just to be clear, I bought a 2 year old one, and was offered last minute low finance on that, after deal was done at cash price.



Edited by footsoldier on Thursday 24th September 23:42

Taffy66

4,463 posts

67 months

Friday 25th September 2020
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footsoldier said:
I bought it from HRO in London!
Ferrari put up £50k incentives on stock (new) 812 coupes and Lussos in July to help dealers shift. I was told some were left over from people who walked away from deposits after Covid and values on the slide. Still worth asking, I don’t know what’s left.

Just to be clear, I bought a 2 year old one, and was offered last minute low finance on that, after deal was done at cash price.



Edited by footsoldier on Thursday 24th September 23:42
Thanks on the clarification,,I'm actually shocked at the £50K discounts on the cancelled 812s however as there is a £25k deposit needed to order a new F8 then there's is probably a lot more on 812s which explains the discount..

Soleith

140 posts

54 months

Saturday 3rd October 2020
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Saweep said:
There are significant discounts on Portofinos available too.

Times have changed.
I've been watching portofino prices on a couple of 1 year old models which have dropped 5 grand and 10 grand on the asking price in the last few months but wouldn't say that's significant. Are you saying there are more cash discounts to be had when you go to buy?

Cheib

20,271 posts

140 months

Saturday 3rd October 2020
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Taffy66 said:
footsoldier said:
I bought it from HRO in London!
Ferrari put up £50k incentives on stock (new) 812 coupes and Lussos in July to help dealers shift. I was told some were left over from people who walked away from deposits after Covid and values on the slide. Still worth asking, I don’t know what’s left.

Just to be clear, I bought a 2 year old one, and was offered last minute low finance on that, after deal was done at cash price.



Edited by footsoldier on Thursday 24th September 23:42
Thanks on the clarification,,I'm actually shocked at the £50K discounts on the cancelled 812s however as there is a £25k deposit needed to order a new F8 then there's is probably a lot more on 812s which explains the discount..
Yes and if heavily optioned decent margin in them. Dealers probably still making money and ant them moved on !

Saweep

5,835 posts

151 months

Saturday 3rd October 2020
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Soleith said:
Saweep said:
There are significant discounts on Portofinos available too.

Times have changed.
I've been watching portofino prices on a couple of 1 year old models which have dropped 5 grand and 10 grand on the asking price in the last few months but wouldn't say that's significant. Are you saying there are more cash discounts to be had when you go to buy?
I don't know if they're still available but it was offered £30k off list for unregistered stock Portofinos by two dealers 6-8 weeks ago.

Of course the facelift hadn't been announced when that happened or when I wrote the post you quoted so that could be the reason.

Soleith

140 posts

54 months

Saturday 3rd October 2020
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Saweep said:
I don't know if they're still available but it was offered £30k off list for unregistered stock Portofinos by two dealers 6-8 weeks ago.

Of course the facelift hadn't been announced when that happened or when I wrote the post you quoted so that could be the reason.
Ah interesting. I'm probably in the market for one but just eyeballing at the moment as can't hand back the A8 (at least not without having to pay some cash) until next year. Fingers crossed pricing remains soft.

NormanClegg

1 posts

Tuesday
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To follow onto this post, I have to say I find Ferrari Finance really uncompetitive I was offered 7.8% when money is cheaper than ever. I've been offered £10,000 off an F8 Tributo if I buy via FFS, is there anything stopping me buying the car to get the deal and paying this off in the 14 day cooling off period?

adamellisdj

389 posts

3 months

Tuesday
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NormanClegg said:
To follow onto this post, I have to say I find Ferrari Finance really uncompetitive I was offered 7.8% when money is cheaper than ever. I've been offered £10,000 off an F8 Tributo if I buy via FFS, is there anything stopping me buying the car to get the deal and paying this off in the 14 day cooling off period?
Haha i can’t advise legally, but that would be epic.

They pushed FF on me. Once rejected they lost interest in me.

Until I got finance secured elsewhere, and they were my friends again.

I say do it.

Tin Hat

954 posts

174 months

Tuesday
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NormanClegg said:
To follow onto this post, I have to say I find Ferrari Finance really uncompetitive I was offered 7.8% when money is cheaper than ever. I've been offered £10,000 off an F8 Tributo if I buy via FFS, is there anything stopping me buying the car to get the deal and paying this off in the 14 day cooling off period?
That tactic certainly works ok at Mercedes Benz