FF prices

[Kettmark]

If they traded these cars in against a newer Ferrari they would be offered circa £80k! How can they expect retail money when dealers cars aren't selling at retail whilst you have warranty and comeback with dealers?!
Buy privately and no comeback whatsoever and questionable transfer of any power warranty.
Am I wrong?

[_Rodders_]

Kettmark said:

If they traded these cars in against a newer Ferrari they would be offered circa £80k! How can they expect retail money when dealers cars aren't selling at retail whilst you have warranty and comeback with dealers?!
Buy privately and no comeback whatsoever and questionable transfer of any power warranty.
Am I wrong?

You'd have to have big balls to drop 100k on a private sale of an older Ferrari.

Genuine reason for sale.

[ANOpax]

Kettmark said:

If they traded these cars in against a newer Ferrari they would be offered circa £80k! How can they expect retail money when dealers cars aren't selling at retail whilst you have warranty and comeback with dealers?!
Buy privately and no comeback whatsoever and questionable transfer of any power warranty.
Am I wrong?

Warranty is transferrable but not worth the paper it’s written on.
If private sellers are asking retail money, ask them to slap the two year warranty on as a condition for completing the sale.

[jason61c]

akadk said:

Agree

I offered on the black one and got blanked

Seller wants retail money

they need to be £15k under retail. Actual selling prices not listed prices.

The one recently bought a few posts above, was sold for less than 90k to ferrari, while it still had warranty, it went though a new warranty process, however still have brakes over 50% worn etc.

you only have to look at how long they hand around for.

[ANOpax]

The last few years have taught us that supply and demand can be unpredictable. Prices for FFs have firmed over the last couple of years but they may fall back again. Or they may not. With only nine cars advertised for sale in the open market, compared to nearly 30 a couple of years ago, all the indicators are that it remains a sellers' market.

The point I'm trying to make here is that rather than obsessing over what the 'right' price is, the pool of available cars has shrunk so much that if you find a car in condition and spec which suits you, then the price compared to others in the market becomes irrelevant as they are not in the condition or spec that you want. Or, to put it another way, if private sellers are asking retail prices, why don't you just go and buy at retail from Ferrari?

And if you're worried about comeback against a private seller, ask them to have it inspected and a warranty put on it at buyer's cost. Personally, I'd choose to have a good PPI done by a trusted independent and self insure rather than pay Ferrari for an inspection and warranty. But that's just me after five years of FF ownership and discovering the hard way that the warranty won't pay for most of what can go wrong and the bits it does pay for can be repaired for no more than twice the cost of the annual warranty.

[DMZ]

What sorts of things go wrong that the warranty won’t cover?

[ANOpax]

DMZ said:

What sorts of things go wrong that the warranty won’t cover?

Anything involving a leaking seal. So gasket failures or bearing seal failures involving the engine or gearbox aren’t covered. Leaking shocks and loose wheel hub bearings are also not covered. My own experience includes a leaking water pump (4k to replace) and a blown fuel pump (2k to replace). Both failures were not covered by the warranty.

[Kettmark]

ANOpax said:

Anything involving a leaking seal. So gasket failures or bearing seal failures involving the engine or gearbox aren’t covered. Leaking shocks and loose wheel hub bearings are also not covered. My own experience includes a leaking water pump (4k to replace) and a blown fuel pump (2k to replace). Both failures were not covered by the warranty.

As a current owner to a prospective purchaser, what would you recommend I do as to where to purchase from?
Reputable specialist dealer and get an independent inspection plus ask for a 2 year Ferrari warranty?

[ANOpax]

Kettmark said:

As a current owner to a prospective purchaser, what would you recommend I do as to where to purchase from?
Reputable specialist dealer and get an independent inspection plus ask for a 2 year Ferrari warranty?

1 Buy on condition
2 Get a PPI from a reputable independent
3 Budget a slush fund for the inevitable repairs

I wouldn’t bother with the cost of the 2 year warranty. Put the money into a slush fund instead. I wouldn’t worry about the reputation of the selling dealer as the cars at the less reputable ones are likely to be on SOR anyway.
If the car comes with warranty, factor that into your calculation as there is some value to it but given the choice between paying for one or self insuring, keep the cash and build it up for when you need it.

[Kettmark]

ANOpax said:

1 Buy on condition
2 Get a PPI from a reputable independent
3 Budget a slush fund for the inevitable repairs

I wouldn’t bother with the cost of the 2 year warranty. Put the money into a slush fund instead. I wouldn’t worry about the reputation of the selling dealer as the cars at the less reputable ones are likely to be on SOR anyway.
If the car comes with warranty, factor that into your calculation as there is some value to it but given the choice between paying for one or self insuring, keep the cash and build it up for when you need it.

Sounds like sound advice thankyou. I've messaged the indi that looks after my Maserati re potential inspections.

[RUNDLL]

ANOpax said:

1 Buy on condition
2 Get a PPI from a reputable independent
3 Budget a slush fund for the inevitable repairs

I wouldn’t bother with the cost of the 2 year warranty. Put the money into a slush fund instead. I wouldn’t worry about the reputation of the selling dealer as the cars at the less reputable ones are likely to be on SOR anyway.
If the car comes with warranty, factor that into your calculation as there is some value to it but given the choice between paying for one or self insuring, keep the cash and build it up for when you need it.

This needs to pinned to this thread somehow! There is so much fear mongering about buying a used Ferrari, especially an FF, I'm surprised I ever bought one! The points made earlier about spec are spot on. I wanted blue with a lighter interior and clear glass with lowish miles. I looked for a year back in 2020 to early 2021. All I found was endless black and white cars with black interior. absolutely nothing wrong with those of course but not what I wanted. All of a sudden a single blue car came up in spec early 2021. I dithered around trying to get a discount and lost the car to a more astute buyer, who recognised the rarity of the spec and paid full asking. Literally a week later, amazingly another blue car came up but this time a private seller. It was slightly less miles and less owners but a beauty. It wasn't retail money but very close. I promptly put my big boy pants on and made an offer very close to asking, which was accepted.

My point here is, buy the car on condition and spec. The selling dealer is irrelevant unless main dealer and coming with a warranty, but you'll pay for it. Otherwise do as ANOpax, myself and others do, stick the warranty money into a slush fund and soon enough you'll have enough in there to take car of all the big issues which a fixed (for good) by specialists.

If buying private, then that's an even better way of gauging the life the FF has lived, at least with that owner.

[4l3x]

akadk said:

Agree

I offered on the black one and got blanked

Seller wants retail money

How much did you offer? Main dealer might ask £110-115k for similar lower mileage car. As someone else mentioned, buy on condition. Not always the case but lower price for higher miles, potentially more worn discs, may need more doing etc. so could be a false economy? As the adage goes, buy the best one you can afford.

[akadk]

4l3x said:

How much did you offer? Main dealer might ask £110-115k for similar lower mileage car. As someone else mentioned, buy on condition. Not always the case but lower price for higher miles, potentially more worn discs, may need more doing etc. so could be a false economy? As the adage goes, buy the best one you can afford.

More than the last grey private one sold for !

[4l3x]

akadk said:

More than the last grey private one sold for !

That grey one had 6k more miles on the clock, more owners, only 6 months warranty when it sold privately and 50% worn discs. New discs are at least £10k all round and not covered by warranty as its wear and tear. Had the OK to speak to Greypaul and discs on the black one are only 26% worn with good pads, so not really the same car is it :-) Even when Ferrari advertised the grey one at £107k it still had 50% worn discs. Again buy on condition otherwise surely its a false economy with bigger bills later on.

[Kettmark]

4l3x said:

That grey one had 6k more miles on the clock, more owners, only 6 months warranty when it sold privately and 50% worn discs. New discs are at least £10k all round and not covered by warranty as its wear and tear. Had the OK to speak to Greypaul and discs on the black one are only 26% worn with good pads, so not really the same car is it :-) Even when Ferrari advertised the grey one at £107k it still had 50% worn discs. Again buy on condition otherwise surely its a false economy with bigger bills later on.

Have you viewed the car Alex?

[akadk]

4l3x said:

akadk said:

More than the last grey private one sold for !

That grey one had 6k more miles on the clock, more owners, only 6 months warranty when it sold privately and 50% worn discs. New discs are at least £10k all round and not covered by warranty as its wear and tear. Had the OK to speak to Greypaul and discs on the black one are only 26% worn with good pads, so not really the same car is it :-) Even when Ferrari advertised the grey one at £107k it still had 50% worn discs. Again buy on condition otherwise surely its a false economy with bigger bills later on.

Yes, I said m o r e ?!

When are you picking it up ?

[BaysideBlue]

Hi All, new to posting but have been following on PH for a while.

Has anyone seen or put in an offer on the red one advertised at £117,500? Is this one that’s been advertised for a while, or does anyone know of it being a good or bad car?

Thanks, BB

[21ATS]

BaysideBlue said:

Hi All, new to posting but have been following on PH for a while.

Has anyone seen or put in an offer on the red one advertised at £117,500? Is this one that’s been advertised for a while, or does anyone know of it being a good or bad car?

Thanks, BB

The asking price for that car is the same as one with a Pano roof (which it doesn't have). There are effectively two markets for these cars. With or without the glass roof.

The price difference has generally been around £10K or so - which was about what the option price was when new.

Also the Pano roof was standard fit from 2015 onwards (with the appropriate option price added to list) so this is likely a late 2014 build registered a year or so later.

It also has approaching 30,000 miles, which in Ferrari terms in the UK is lunar mileage (daft I know - but it is what it is).

If that were being sold by a franchised Ferrari dealer coming with two years used Ferrari factory warranty it would probably be on the money. But it's not, I don't know that dealer but I think it would be safe to say that's a SOR arrangement and won't have a warranty.

To my eye's maybe £15K too much. But if you like it and the prospect of a £20K-£25K spread is tolerable, then go for it.

I paid asking price for mine, from a SOR dealer and then bought a warranty. It was the one I wanted I simply accepted I had to pay to play.

This is where Ferrari's (certainly low volume V12 Ferrari's) become a bit of a law unto themselves. There aren't many for sale. The owners generally don't need the money to buy their next car, they will sell at the price they want or keep it. If you want a car, that's what you need to pay.

There's always a bit of wiggle room, on mine it was a full set of tyres, four wheel refurb and some odds and ends that needed sorting.

Go in with your eyes open. Simply assume it's going to cost you £20k-£25K to own one of these plus running costs (assuming you'll own it for a year or two then move it on). Then if it comes out anything less than that it's a bonus

[21ATS]

Another FF on Collecting Cars.

2012 35,000 miles. Private sale.

https://collectingcars.com/for-sale/2012-ferrari-f...

[BaysideBlue]

Thank you very much for your reply, that is very helpful and in line with my thoughts on price and ownership costs (I was budgeting around 20-30k for owning it for 3 years or so and have enquired about warranty already which is around £5k per year, £5.5k for first year including inspection). Although to be honest I did not even consider the pano roof point around it likely being an earlier model registered later (did not know it was standard from 2015).

Also saw the black FF on CC, even higher miles but perhaps worth a visit and some diligence if the price ends up being reasonable.

Thanks again, BB