Trying to help my brother out | FerrariChat

Trying to help my brother out

Discussion in '348/355' started by SoftwareDrone, Sep 7, 2006.

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  1. SoftwareDrone

    SoftwareDrone F1 Veteran
    Sponsor Owner

    Jan 19, 2004
    7,857
    San Jose, California
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    Mike
    He's never owned a Ferrari before (not even had an interest) but, after seeing my 360 and going for some rides, he now has the fever. His boss's friend has a 348 (the most beautiful looking model of Ferrari in my opinion), 1992, red/tan with 4000 miles on it, supposed to be in great condition. I thought I would ask the gurus here what he should offer the guy for it.
    Thanks!
     
  2. PAP 348

    PAP 348 Ten Time F1 World Champ
    Lifetime Rossa Owner

    Dec 10, 2005
    100,219
    Mount Isa, Australia
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    Pap
    Couldnt agree more mate. :eek: Why havent you got one then? ;)
    It seems to me, that you want this car more than he does. Totally understandable mate. Maybe offer around $50K? Not too sure about US 348 prices sorry. But with 4,000 miles, im sure this car will be lovely. Hope he does buy it so he can join us mad buggers here in the brotherhood. :p
     
  3. vvassallo

    vvassallo F1 Veteran

    Aug 4, 2006
    8,324
    Palos Verdes
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    Vince V
    Unless there is some special reason, why limit urself to this car? There are plenty of options and many are discussed in these boards. It all depends on what ur bro wants in his Ferrari experience and what he can afford (or wants) to pay.

    Check out the thread on the 1994 348 Serie Speciale, which is a more collectable version than an early series 348.
     
  4. Dr.T348

    Dr.T348 Formula 3

    Jan 8, 2004
    1,599
    Chicago NW Burbs
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    Richard T.
    '92 with 4000 miles? Depending on service (major service is around $6000 - 7000) I would think with that kind of miles in high $50's to 60 if sevice is done. If not subtract 6 or 7K.
     
  5. VTChris

    VTChris F1 World Champ

    Aug 21, 2005
    13,259


    ss, ts, tb, or spider?
     
  6. Jas

    Jas Formula 3

    Mar 2, 2005
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    Take a look at a 348 spider. Visibly unique, beautiful, and rare.
     
  7. SoftwareDrone

    SoftwareDrone F1 Veteran
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    Jan 19, 2004
    7,857
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    Thank you guys, but this is a unique situation. His boss owes him a big bonus, and he is going to try to bargain for the car instead (recall that the car's owner is a good friend of his boss). He cannot bargain if he doesn't even know what a good asking price is for the car.
     
  8. VTChris

    VTChris F1 World Champ

    Aug 21, 2005
    13,259

    what model is the car? targa, berlinetta, or spider?
    of course mileage and condition make a big difference in price, but since it is a bonus for him, these numbers should help

    targa @ $50-55
    tb @ $50-55
    ss @ $55-65
    Spider@ $59-69
     
  9. Dr.T348

    Dr.T348 Formula 3

    Jan 8, 2004
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    Richard T.
    No spiders in '92, unlikely SS in '92. tb/ts worth about the same.
     
  10. Dr.T348

    Dr.T348 Formula 3

    Jan 8, 2004
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    Richard T.
    In that case I would go low. Start around $45 or 50k especially if you don't know the service history.
     
  11. ylshih

    ylshih Shogun Assassin
    Honorary Owner

    Mar 21, 2004
    20,407
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    Hmmm. Why would the boss' friend give him a deal on the car because the boss owes your brother a bonus? Even if there's a reason, the best advice I can give is to keep the two transactions separate. Negotiate the best bonus he's entitled to and then negotiate for the car and be willing to walk away and look at other cars on the market. Getting things all mixed up is how car dealers end up screwing buyers.
     
  12. gothspeed

    gothspeed F1 World Champ

    May 26, 2006
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    goth

    Great point, keeping it separate sounds like a very good way to get the best of both worlds :) .
     
  13. SoftwareDrone

    SoftwareDrone F1 Veteran
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    And pay 50% of the cash bonus to taxes? You guys crack me up.
     
  14. ylshih

    ylshih Shogun Assassin
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    Mar 21, 2004
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    Doesn't change the principle, just changes the numbers.
     
  15. SoftwareDrone

    SoftwareDrone F1 Veteran
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    Yeah - drastically. Good thing you're not my financial advisor...
     
  16. BT

    BT F1 World Champ
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    Mar 21, 2005
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    Bill Tracy
    Assuming the car is a ts (as the majority are) I would say the car should be worth about $53k without the major service, and $56k if the major was done in the last year. Personally I prefer the ts, but many like the tb better. On average the ts is probably a little easier to sell and would probably bring an additional $1500-2000 over a comparable tb. Sounds like a nice ride, and would be a smart way to get paid as you note.
    BT
     
  17. gothspeed

    gothspeed F1 World Champ

    May 26, 2006
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    goth
    Well, the employer issuing the cash bonus can use said bonus as a tax deduction. If he gives the car in lieu, then the employer gets the short end of the stick tax wise. I'm pretty sure he is not in business to lose money, you do the math. Somebody has to pay the taxes.
     
  18. SoftwareDrone

    SoftwareDrone F1 Veteran
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    Jan 19, 2004
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    You have a good point. It's just that my brother makes probably 60k/yr and his boss is a multi millionaire. He owns several operations, one of which my brother runs. He really appreciates my brother and is just trying to help him out with a good bonus.
     

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