| Author | Message | ||
| WMontgomery (Fiorano1999)
Junior Member Username: Fiorano1999 Post Number: 73 Registered: 11-2002 |
Similarly Bill, Miller Motorcars has so many 355's that came in on 360 trades pre 9/11 that they look like a 355 museum. They sold a 6,000 mile 97 550 for under the price of a near new 97 355 spider. The spider sits, alas. Some times you win, some times you lose. | ||
| James Selevan (Jselevan)
Member Username: Jselevan Post Number: 274 Registered: 6-2002 |
For anyone interested, I know of a titanium 360 spider, 2002, new (dealer miles only - less than 100), with all options - 6 speed, fender badge, etc. Located at non-Ferrari dealer in Orange County, purchased by acquiring someone's position who could not afford the car. I asked price but can't remember number - I'm better with symbols. Jim S. | ||
| Bill Sawyer (Wsawyer)
Member Username: Wsawyer Post Number: 582 Registered: 2-2002 |
A guy I met sold his 550 Maranello to a dealer over 2 years ago for what he paid for it--$207k. Today that same car is still on the dealer's floor and they are struggling to get rid of it at $160k. | ||
| WMontgomery (Fiorano1999)
Junior Member Username: Fiorano1999 Post Number: 69 Registered: 11-2002 |
You are proably right Tom as you are in the general area of all of those but not quite local to Los Gatos. Will | ||
| WMontgomery (Fiorano1999)
Junior Member Username: Fiorano1999 Post Number: 68 Registered: 11-2002 |
Oh yeah, secondary market, low mile cars are now selling for about sticker price. If you are close to a dealer and can find out what they have in them and what they really sell for you'd be surprised as opposed what the ads say. The dealers asking 385 for a 550b are doing so as it is likely a consignment car and the owner is still trying to make a kill. You can find perfect, near no mile 550b's for right around 300K these days. Wholesale is 275-280. The spiders are down to a little over 200 - 210 when they roll out the door which is close enough to where they were new with the luxury tax included. The days of a buck over seem to be gone on those models. 40 over as someone said is gone as well. They may not be Corollas in that theu hold their value for a period but the selling for waaaaaay over what the initial buyer paid seems dead at this point. You could sure buy a bunch of Corollas for the amount a 550 has fallen from full retail to today's wholesale. Don't confuse someone's ad with the value of the cars. Call a dealer and ask what they will give you for a spider. When you reject that, they will say you can put it in our floor and if it sells at your price then we get 10%. 575's are available under MSRP on the secondary market as well. Quite a few long time customers at my local dealer have canceled their orders, some when the car arrived. Some dealers are still sitting on pre-9/11 cars, mostly 355's, that they are buried in. The world, it ain't what it used to be. Will | ||
| TomD (Tifosi)
Intermediate Member Username: Tifosi Post Number: 2022 Registered: 9-2001 |
I thought I remember that if you lived in a state without a dealership you could order from any dealer - I might be mistaken because that would mean being in NJ I could order from anywhere which would not make WWOC, FOLI, ALGAR, MILLER which are all within about a 50 mile radius of me very happy | ||
| WMontgomery (Fiorano1999)
Junior Member Username: Fiorano1999 Post Number: 67 Registered: 11-2002 |
Dave328GTB, In talking to Dave Orth of FofD, he told me he could not, by FNA directive, accept a new car order from anyone out of his "region". Continental in Chicago says the same. I have been on the spider list for some time and pushed back from spring 2003 to fall 2003 - the same time the 360 replacement is due to hit. Plus I had to aqree to give the dealer right on first refusal if the car is for sale in the first two years of ownership - trying to stop the flip. So, take an old model spider or wait for a new model? Will | ||
| Matt Lemus (Mlemus)
Member Username: Mlemus Post Number: 926 Registered: 8-2002 |
Wasn't there talk of rolling over the 360 list to the 420 list? If that is the case, being the list for the 360 is so long, does that mean the 420 is almost sold out? | ||
| Dave328GTB (Hardtop)
Member Username: Hardtop Post Number: 339 Registered: 1-2002 |
As far as I know, Ferrari of Denver is taking deposits from all comers but I think the list is approaching 5 years for 8 cylinder cars. Obviously, 360's are long sold out. 12 cylinder wait is much shorter I have been told. Dave | ||
| David Jones (Dave)
Member Username: Dave Post Number: 476 Registered: 4-2001 |
Lets see, I know of a 2000 360 coupe that sold for $130k ... 355's down in the $70's 456's in the $90's.... If you play their supply and demand game then yes Bob you will pay the piper. But if you don't have to have the latest greatest gizmo as soon as it comes out, it can still be had, but for much less... I have been all over the country looking at Daytona's, but after driving a 550 have decided that it will be my next F-car.... after it depreciates down a little more. I guess I'm just a penny pincher, if there is such a thing when it comes to Ferrari's..  | ||
| Cmparrf40 (Cmparrf40)
Member Username: Cmparrf40 Post Number: 514 Registered: 3-2002 |
Max, the problem is that the entire production run of 360's is sold out and has been for awhile. The salesman was probably being very honest with you. No need to take a deposit on a car he can not deliver. If there is a cancellation, existing customers will be first in line, a practice any business would follow. Unlike a more massed produced car such as your Porsche, the world demand is greater than the supply, that is why used 360's cost more than new. Welcome to the world of Ferrari! | ||
| BobD (Bobd)
Member Username: Bobd Post Number: 831 Registered: 3-2001 |
Matt, I agree.... that's why I limited my statement below to 360s. I wish I could get on that list! | ||
| Matt Lemus (Mlemus)
Member Username: Mlemus Post Number: 925 Registered: 8-2002 |
Bob, I believe that is the case for the 360 spyder and coupe as well as the 575. Not sure about the 456. | ||
| BobD (Bobd)
Member Username: Bobd Post Number: 829 Registered: 3-2001 |
+++ "as soon as they drive it off the lot it becomes a used car worth much less."+++ David, quite the opposite with 360s if you're lucky enough to get a new one. You buy it new at MSRP, drive it 5000 miles and sell it for $40K more. This ain't no Corolla. | ||
| David Jones (Dave)
Member Username: Dave Post Number: 474 Registered: 4-2001 |
I can walk into just about any dealership and get put on a waiting list.... But why? Why in the hell would anybody wait 2 years to buy a new car, and as soon as they drive it of the lot it becomes a used car worth much less. I will never buy a new car ever again... it's just not smart business. Let someone else spend their time waiting, and let them take the big suck in depreciation for their new toy. Then when they tire of it in a year or two, pick it up for a song, no dealer crap to worry about.... But hey, that's just me, I'm not trying to rag on you, I just value my time and money... BTW, San Diego is my old stomping grounds, and Symbolic is a bit overpriced with their cars. | ||
| Matt Lemus (Mlemus)
Member Username: Mlemus Post Number: 922 Registered: 8-2002 |
Sounds like typical Ferrari sales. I'd go to a different dealer or check out some independants such as symbolic in la jolla. Call around to differnet places. | ||
| Chehab Chehab (Max_sd)
New member Username: Max_sd Post Number: 1 Registered: 12-2002 |
I was doing some Christmas shopping in La Jolla this afternoon, when I noticed a factory authorized Ferrari dealer on Girard Ave. I believe they are an affiliate of Ferrari of Orange County. Currently I own a 996Turbo, and have been considering adding a 360 coupe. I got pretty annoyed at the sales guy, who refused to commit to putting me on any list or not willing to take any deposits. He claims that all new cars (MSRP) are for their long time customers. The only way to become a long time customer is to purchase a used car from them, but this did not guarantee a place on any list. Is this normal? I know that Ferrari are quite limited, but this to me sounds like an exclusive club. Any suggestions on how to get placed on a list and be eligible to purchase these cars at MSRP. I am constitutionaly unwilling to pay above MSRP. However I am willing to wait on a confirmed waiting list, as I did for my current turbo (24months). |