Is my F430 offer reasonable??

2006 F430 coupe F1 9700 miles
Options include scuderia shields, red calipers, Daytona seats with black inserts, black carpet, NO CC brakes
2-owner, fully documented with records, no obvious major issues (although PPI not done yet). Car is at a Ferrari authorized dealership

Asking price is around $137K
My initial offer $122K.

 

I think it is a fair offer. They'll likely counter. I made a similar type offer on my car to an authorized dealer and there were no hard feelings. It all worked out.

 

Yeah. I'm willing to increase my offer too a little bit but wanted to get a fair deal without submitting an obnoxious low-ball offer. Thanks for your input.

 

Ferrari dealers do not budge much... I say minimum they will take is 132 to 130

 

What is the collor combo?

 

Yeah, I can't see them budging much lower than 132

 

See if you can get it for 132-133 with CPO and 1 year Ferrari Powertrain Warranty. How far is car from you? What is clutch wear percentage? Have headers been replaced yet?

 

The car is on the other side of the country. It would have to be enclosed transported.

It's a red/tan car with black carpets and inserts. I do believe the headers were replaced. I'll double check. Thanks for all the advice.

 

Just a note: They've already read this thread. It's a little tough to negotiate when you reveal your hand.

All F dealers read F chat.

 

If you make a truly all cash offer, you could ask for the sales receipt to be made out a bit lower so the taxes are less, offering some savings outside of the initial sale.

 

The Mayor is probably right. I still stand by my statements.

 

I have an 07 Red/Beige 430 with 10,130 miles. Exact options except I have the standard seats. Asking 142k. All service history, records, 2 owner car. Warranty until June this year.

I'm in NJ so it would save you the trip unless your buying sight unseen.

 

wholesale (where they bought it) is 117/122.. I think yours is a fair offer to start.. they try to make 15-20 a car but if it sits past 45-60 days they will take less..

 

Your offer is fair at 122k during the winter season. I would not pay more than 125k if I was the buyer. Just move to the next car, there are plenty of options now and soon more to come.
It remains a buyers market for F430's !!!

 

Mayor, that might be the OP's strategy...

 

What do you mean by truly cash? Do you mean a suitcase full of paper? Would an authorized dealer want to be involved in something like that? Would a dealer really play with sales tax?

 

I would be surprised if an authorized Ferrari dealer would be part in such games, but I have been surprised before...

 

Good offer. you can get a 2005- 2006 F430 all day for $125K with under $10,000 miles. Factors on price are : PPI, exhaust, tires, rims (challenge rims) interior carbon fiber parts. Offer what you want to pay, don't be timid. There are a lot of F430 out there. If you want to pay $122K that's find and work way up. If your looking for challenge rims and carbon fiber factor that in. Finding a car with everything you want is cheaper that installing these items later on most of the time.

Not true. Many will move if you are not too anxious. If a major service was performed recently (last 6 months) (don't take that 2-3 year BS as recent) and the car needs nothing major (clutch, brakes, tires, fluid changes) then they will only budge a few grand but you would of had to spent that $ anyways.

Well said.

Not really. The car has to go through the dealers books. When they purchase the car, the price is recorded, when they sell, the price is recorded. They have to show a profit for most cars because once in awhile, even dealers get burnt and sell lower than what they paid whether it be from unexpected costs for repairs, buying too high at the auction or needing money to pay bills.

Smart advice

 

A bag full of benjamins works evey time.

 

I dont think so. They make money on their Ferrari Financing, thus adding profit to any deal. I dont recall the specifics, but GMAC used to make more profit than the profit from the cars themselves as I recall.

 

I wouldn't have any idea when it comes to dealer financing. I have always preferred to obtain my own financing and present a cash deal or save my money and pay cash outright.

 

yep they like financing coz it's extra money for them. Why would they take cash? It's a pain in the butt to also take that count it, then deposit, and all the high risk. That's just movie stuff. You're better off with a check, and even then, they don't make any extra money on financing.

As for Ferrari Financing, I did it with mine. With top tier, you actually get pretty good rates.

 

Dealers get a cut if you finance through them. A friend of mine once negotiated a price on a car and then told them he would write a check. They tried to back out because they were counting on the additional finance profit. I used to have a Ford dealership owner for a customer and he told me that to get the best deals for friends and families, he would have them finance it and make three payments. At that point, he would get his rebate and they could pay it off. Interest was less than the rebate.

As for cash, as in green, speaking for myself as a business owner, I would never take more than about 5K from an unknown. When it is 10K or more in any calendar year, the IRS requires you to collect an SS# and issue a 1099.

Dave

 

My Ferrari Financing rate was less than stellar. They wanted 5.99% in Mar/2010 when my credit union was offering 3.9%. I held firm on using my credit union and the Ferrari Financing rate "magically" fell to 4.99%. Thats the best they would do. I took it and refinanced with PenFed a year and a half later for 1.49%, was going to refinance sooner, but I was just too busy.

My credit is 800+, and my income is huge with zero debt, so a low risk, high credit score customer. I am however self-employed, which is never easy...

 

I haven't been that impressed with the Ferrari rates. But they do offer "extended" terms for those that are interested.