Negotiating with a Ferrari Main dealer
Discussion
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 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
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.
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. 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 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 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
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.
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..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
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?Times have changed.
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.
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..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
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?Times have changed.
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.
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.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.
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?
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.
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 BenzMany thanks for all your help, to be honest I can't see how they can stop you clearing the finance. I've previously done the same thing with BMW and my dad has done the same with Volvo. If you clear outside the cooling off period you suffer a 2 month interest penalty for clearing it.
I have to say FFS are really uncompetitive, it's expensive and all the risk is on the consumer not them. Ferrari is selling far to many new cars in my opinion so that will hurt residuals, for example there are 20 F8 Tributos on Autotrader, many tens of thousands below list.
Not sure what others think...
I have to say FFS are really uncompetitive, it's expensive and all the risk is on the consumer not them. Ferrari is selling far to many new cars in my opinion so that will hurt residuals, for example there are 20 F8 Tributos on Autotrader, many tens of thousands below list.
Not sure what others think...
NormanClegg said:
Many thanks for all your help, to be honest I can't see how they can stop you clearing the finance. I've previously done the same thing with BMW and my dad has done the same with Volvo. If you clear outside the cooling off period you suffer a 2 month interest penalty for clearing it.
I have to say FFS are really uncompetitive, it's expensive and all the risk is on the consumer not them. Ferrari is selling far to many new cars in my opinion so that will hurt residuals, for example there are 20 F8 Tributos on Autotrader, many tens of thousands below list.
Not sure what others think...
I personally wouldn't bother with a 488 and would stick to an older car with stronger residuals like a 458I have to say FFS are really uncompetitive, it's expensive and all the risk is on the consumer not them. Ferrari is selling far to many new cars in my opinion so that will hurt residuals, for example there are 20 F8 Tributos on Autotrader, many tens of thousands below list.
Not sure what others think...
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