real bear market out there

[achilles8]

Just returned after a drinks with some broker colleagues of a friend. A couple of them say they have had offers in the mid 50's accepted for F430's - 30% below the asking price!
Yesterday UBS paid absolutely zero bonus to all employees worldwide. Most other banks are paying deferred bonuses, given this terrible economic climate I think used luxury car prices are only going to go south. Now the question is how low can I offer a dealer for a car thats listed at 70k ? Do you think a offer of 50k for a car like this will get me kicked out of the showroom?

[MrAbramovich]

Probably get you a good kicking out of the showroom !!!!

[Pork]

If a broker is getting them at that, s/he'll be trading them for more...ergo, the dealer will have more than that in them and will, quite rightly, show you the door.

If you want to pay that sort of money, surely the only option is to weed out the depserate seller who MUST sell and will take whatever offer they can get?

[bromers2]

Why don't you just buy it off your mate for £50k !!

[gko88]

having just sold my 430 spider back to the dealer (i was relocated abroad- otherwise i would have kept it) they are offering it 17k over what they paid for it. that gives u some idea of what wiggle room they are likely to have. of course that is for a car they have recently got in stock, and i'm sure a lot of that margin will have been eroded already for older stock.

[andyleeds]

are we saying then that you can pick a 430 up for mid 50's?

[Pork]

andyleeds said:

are we saying then that you can pick a 430 up for mid 50's?

If you can buy directly from a distressed seller.

[MogulBoy]

achilles8 said:

Yesterday UBS paid absolutely zero bonus to all employees worldwide.

As much as I like the thought of an F430 for mid-£50's, U'r UBS factoid is in fact, BS.

They may have paid zero bonuses 'yesterday', but they have in fact agreed to pay SFr2 billion ($1.73 billion) any day now.... see link...

http://www.swissinfo.ch/eng/search/Result.html?sit...

Edited by MogulBoy on Friday 13th February 12:10

[Mattymouse33]

I just cant see an F430 go for anything near 70k, let alone 50k. I know thats what your mates said though, if thats the truth, thats madness

[Sarnie]

Mattymouse33 said:

I just cant see an F430 go for anything near 70k, let alone 50k. I know thats what your mates said though, if thats the truth, thats madness

http://search.autotrader.co.uk/es-uk/www/cars/FERRARI+F430/Ne-2-4-5-6-7-8-27-44-49-53-61-64-67-103-133-146-236,N-240-4294964932-4294967092/advert.action?R=200904327388778&distance=359&postcode=CO16+8HE&channel=CARS&make=FERRARI&model=F430&min_pr=&max_pr=&max_mileage=&vehicleYearOfManufacture=2005&vehicleRegLetter=

[jke11y]

I had a look round that £70k f430 in the link above on Sunday. Its in pretty good nick and had some pretty cool seats with harness holes. I have seen it in the past about town, I recognised it as it still has its private plate on it.

The garage is on a not-so-great street in Paisley, and doesnt even have an indoor showroom. You could wander round the 430 any time day or night!

[Mosi]

I heard of a UBS Senior Trader that exchanged his 05 F430 F1 with his milkman to clear off his milk bill recently (about 6 weeks worth of semi skimmed, some posh full fat gold top for weekends and x12 yoghurts on Fridays). Admitedly the car was in need of a good detail though.

[Harsh]

Mosi said:

I heard of a UBS Senior Trader that exchanged his 05 F430 F1 with his milkman to clear off his milk bill recently (about 6 weeks worth of semi skimmed, some posh full fat gold top for weekends and x12 yoghurts on Fridays). Admitedly the car was in need of a good detail though.

Hmmmm
must see about that part time job delivering Milk again.

the perks seemed to have improved

[whipround]

Harsh said:

Mosi said:

I heard of a UBS Senior Trader that exchanged his 05 F430 F1 with his milkman to clear off his milk bill recently (about 6 weeks worth of semi skimmed, some posh full fat gold top for weekends and x12 yoghurts on Fridays). Admitedly the car was in need of a good detail though.

Hmmmm
must see about that part time job delivering Milk again.

the perks seemed to have improved

I think the milkman had access to photos of the trader to get that sort of deal

[rubystone]

Mosi said:

I heard of a UBS Senior Trader that exchanged his 05 F430 F1 with his milkman to clear off his milk bill recently (about 6 weeks worth of semi skimmed, some posh full fat gold top for weekends and x12 yoghurts on Fridays). Admitedly the car was in need of a good detail though.

I heard that story too, apparently this was the car that James Dean's younger brother gave to Elvis Presley's daughter

[tony h]

Mosi said:

I heard of a UBS Senior Trader that exchanged his 05 F430 F1 with his milkman to clear off his milk bill recently (about 6 weeks worth of semi skimmed, some posh full fat gold top for weekends and x12 yoghurts on Fridays). Admitedly the car was in need of a good detail though.