Ferrari finance

Author
Discussion

t1grm

Original Poster:

4,655 posts

284 months

Wednesday 4th May 2005
quotequote all
Sorry for the cross post but the only response I got on General Gassing wouldn’t quote me for a Ferrari.

So, can anyone recommend a finance company for financing a used Ferrari? Who are you guys using?

Jonny5

3,526 posts

274 months

Wednesday 4th May 2005
quotequote all

don't know how helpful this is, but 2 sites spring to mind

www.destefano.co.uk - car dealer, but they offer really good rates of finance (3.5%), should be able to source you whatever you want

www.car-finance4less.com - bob houghton, ferrari dealership use this company

Jon

Angelis

2,329 posts

236 months

Wednesday 4th May 2005
quotequote all
Found this in the Ferrari Owners Club website.

www.classicandsportsfinance.com/_foc/

>> Edited by Angelis on Wednesday 4th May 11:52

burnt

1,370 posts

249 months

Wednesday 4th May 2005
quotequote all
Angelis said:
Found this in the Ferrari Owners Club website.

www.classicandsportsfinance.com/_foc/

>> Edited by Angelis on Wednesday 4th May 11:52


From said site:

..."manufacturers such as Aston Martin, Ferrari, Porsche, Bentley, Rolls Royce, Lambourghini and Maseratti...."

Know their market well?


jasonh

66 posts

284 months

Wednesday 4th May 2005
quotequote all
Angelis said:
Found this in the Ferrari Owners Club website.

www.classicandsportsfinance.com/_foc/

>> Edited by Angelis on Wednesday 4th May 11:52


I used them and am happy with the deal and the service I got...

t1grm

Original Poster:

4,655 posts

284 months

Wednesday 4th May 2005
quotequote all
burnt said:

Angelis said:
Found this in the Ferrari Owners Club website.

<a href="http://www.classicandsportsfinance.com/_foc/">www.classicandsportsfinance.com/_foc/</a>

>> Edited by Angelis on Wednesday 4th May 11:52



From said site:

..."manufacturers such as Aston Martin, Ferrari, Porsche, Bentley, Rolls Royce, Lambourghini and Maseratti...."

Know their market well?




And the number quoted gives the message “sorry this number hadn’t been assigned to a customer yet”

t1grm

Original Poster:

4,655 posts

284 months

Wednesday 4th May 2005
quotequote all
Jonny5 said:

don't know how helpful this is, but 2 sites spring to mind

www.destefano.co.uk - car dealer, but they offer really good rates of finance (3.5%), should be able to source you whatever you want

www.car-finance4less.com - bob houghton, ferrari dealership use this company

Jon


Thanks, first one said they were a dealer only and didn't want to help but the second one is going to email some quotes to me

brendonj

729 posts

239 months

Thursday 5th May 2005
quotequote all
Do these guys just do finance packages (eg do they do PCPs) or do they source a car for you as well?

t1grm

Original Poster:

4,655 posts

284 months

Friday 6th May 2005
quotequote all
brendonj said:
Do these guys just do finance packages (eg do they do PCPs) or do they source a car for you as well?


The one I spoke to (car finance 4 less - see above) just does finance although he tried to push several contacts he had for sourcing cars so I assume they can put you in touch with someone.

t1grm

Original Poster:

4,655 posts

284 months

Friday 6th May 2005
quotequote all
Just got a quote back on a 360M, LHD, 2000, 57K. The best balloons they could get were as follows:

3 years: 25,650
4 years: 22,800

These seem pretty poor to me. I was hoping to get 30K upwards on the balloon. Any comments?

kryten22uk

2,344 posts

231 months

Friday 6th May 2005
quotequote all
I got a quote direct from Capital Bank about a month ago, as follows:

RHD 360M Coupe
2000(W) reg
37k miles on clock
£63000 price tag
10% Deposit paid in cash

18 month balloon was £46750
24 month balloon was £43750

Not bad, I thought?



>> Edited by kryten22uk on Friday 6th May 11:41

t1grm

Original Poster:

4,655 posts

284 months

Friday 6th May 2005
quotequote all
kryten22uk said:
I got a quote direct from Capital Bank about a month ago, as follows:

RHD 360M Coupe
2000(W) reg
37k miles on clock
£63000 price tag
10% Deposit paid in cash

18 month balloon was £46750
24 month balloon was £43750

Not bad, I thought?



>> Edited by kryten22uk on Friday 6th May 11:41



That's bloody good. Do you have a link or number?

Was the car RHD?

>> Edited by t1grm on Friday 6th May 12:17

kryten22uk

2,344 posts

231 months

Friday 6th May 2005
quotequote all
Yep it was RHD quote (as mentioned in the post). Try them on 0845 3003183.

t1grm

Original Poster:

4,655 posts

284 months

Friday 6th May 2005
quotequote all
kryten22uk said:
Yep it was RHD quote (as mentioned in the post). Try them on 0845 3003183.


Sorry, didn't spot the RHD bit That would make a big difference to the residuals. I'll give them a call.

kryten22uk

2,344 posts

231 months

Friday 6th May 2005
quotequote all
I should get commission!

murph7355

37,739 posts

256 months

Friday 6th May 2005
quotequote all
Jonny5 said:

...www.destefano.co.uk - car dealer, but they offer really good rates of finance (3.5%), should be able to source you whatever you want
...Jon

Am I missing something on this?

I can get 5% on my cash in ING. After tax, works out at about 3%. So basically I could finance a car for 0.5%...

Presumably they only do it on new cars, and with a lot of equity chucked in??

Angelis

2,329 posts

236 months

Friday 6th May 2005
quotequote all
murph7355 said:

Jonny5 said:

...<a href="www.destefano.co.uk">www.destefano.co.uk</a> - car dealer, but they offer really good rates of finance (3.5%), should be able to source you whatever you want
...Jon


Am I missing something on this?

I can get 5% on my cash in ING. After tax, works out at about 3%. So basically I could finance a car for 0.5%...

Presumably they only do it on new cars, and with a lot of equity chucked in??


Must be 3.5% above base rate......surely.

LWR

11 posts

238 months

Sunday 8th May 2005
quotequote all
murph7355 said:

Am I missing something on this?

I can get 5% on my cash in ING. After tax, works out at about 3%. So basically I could finance a car for 0.5%...

Presumably they only do it on new cars, and with a lot of equity chucked in??


You're doing exactly what these guys want you to do - yeah it's an amazing rate, but it's only the flat rate. I would suggest that all of the super low flat rate deals are for front-loaded and/or annual interest - the APR would be closer to 7% or 7.5% if so.

burnt

1,370 posts

249 months

Monday 9th May 2005
quotequote all
kryten22uk said:
I got a quote direct from Capital Bank about a month ago, as follows:

RHD 360M Coupe
2000(W) reg
37k miles on clock
£63000 price tag
10% Deposit paid in cash

18 month balloon was £46750
24 month balloon was £43750

Not bad, I thought?


What does that work out per month, you have me tempted now!

minimax

11,984 posts

256 months

Monday 9th May 2005
quotequote all
Angelis said:


murph7355 said:



Jonny5 said:

...<a href="<a href="www.destefano.co.uk">">www.destefano.co.uk"></a><a href="www.destefano.co.uk"><a href="www.destefano.co.uk">www.destefano.co.uk</a></a></a> - car dealer, but they offer really good rates of finance (3.5%), should be able to source you whatever you want
...Jon




Am I missing something on this?

I can get 5% on my cash in ING. After tax, works out at about 3%. So basically I could finance a car for 0.5%...

Presumably they only do it on new cars, and with a lot of equity chucked in??




Must be 3.5% above base rate......surely.



I hazard a guess that it's probably 3.5% flat rate.


either that or it's APR and they rely on only doing a finance deal if they sell you the car (and make money from you) as well

hmm. apologies, I should have read the whole thread!

>> Edited by minimax on Monday 9th May 10:56