Getting a good "deal" - where to start from asking prices?

Long time lurker here, but after thinking about it for a few years, finally starting to take the plunge and getting a used 458 in the next few weeks.

My question: how much off asking (10%?) is considered a good "deal"?

Because of the scarcity of information about actual sale prices, I have no idea if I should start dealer negotiations at 10% below asking price and settle on a 5% discount, 3%, hold out for 10%?

A couple of the cars I've been looking at are 2011 models, are fairly well optioned, 2000-3000 miles, asking in the $225k range.

Hope to post pics of a new to me car soon! Thanks for any help!





Sent from my iPhone using Tapatalk

 

This is all backwards. As with anything, start by deciding your budget.
Then researching the market for comparable cars and prices at which they changed hands.

A "good deal" is a function of how your deal compares to similar ones.
How much % you negotiate off the asking price is a completely irrelevant measure.

Certain dealers and sellers price things "to sell," others will have a higher asking price waiting for that "big fish."

 

Thanks. Luckily I have enough saved to pay for the car so the budgeting is not the issue.

The finding comparable sales is the tough part for me, as I don't know where that type of information would be available.

For example, both of these cars were traded in for new vehicles, so I guess what I'm trying to estimate is what the difference between the trade in value and the asking price would be for a typical dealer. Without having a general sense of what dealers offer for these cars at trade in, I don't know where to start.

While I can afford the difference between $210k vs $225k, if I can save a few extra thousand with a bit of information, it will help pay for car washes 😉


Sent from my iPhone using Tapatalk

 

there are a ton of cars for sale...if you are focused on the best price you may want to wait a 90-120 days when 'the season' is over. You may find the $225k car you were chasing is now in the low $200s...

 

There are over 200 458 coupes and over another 150 spyders just on Autotrader in the US. I have to imagine that dealers will have a lot of flexibility these days.

 

So if you get a good deal does that mean the seller gets a bad one?

 

Take a look at cargurus.com

Lots of information about pricing in specific geographic areas. Might help answer some of your questions.

Good luck with your search...

 

I don't think he is concerned about the seller. He is looking out for his best Interest. The same as everyone else.

 

I would wait for a couple months - 458 prices can go nowhere but down for the next little while. And as soon as the 488s hit, I predict another drop due to many owners needing the coolest / newest thing. It's anybody's guess where they go after the 488 is no longer the new thing.

 

IMO, if you get 10% off an asking price, that's a good deal. Let's face it, that's over 20 grand.. nothing to sneeze at. Most times I don't think you'll get that though. If you get more, the guy is pretty desperate or knows he's overpriced the car.

I do think the prices will drop in the winter. And, there are people dumping their 458's now back into dealers to get early 488's.

Remember it's not a game to find the cheapest car you can find. It's a game to get you the best car you really want at a price you are willing to pay and can afford. You have to keep 30 grand in the "kitty" just in case of anything.

 

Figure the dealer want to make 15-20k on the sale. Go in a least 10k under what they are asking..cash in hand. You will get the car. You must allow the dealer to make some money, just not as much as they think they can get..

 

Find 5 cars that you really like and offer them 10 percent off. A couple will laugh but one of the others will sell you a car. Be picky and get a car you really like.

 

Thanks for all the replies.

So far, I've had them offer a "free" one year power warranty for the "right selling price". Of course, that right selling price is what I'm trying to find for myself. Both these cars are dealer trade ins, so I don't really care if they get a "bad deal" out of it, they'll eventually make more money off of me.

And as for waiting until the summer is over -- I've told myself that for the past two years -- I'll just wait until next season since the prices will be lower, oh the spiders/speciale/488 will drive the prices down if I wait. Well, I'm done waiting, and I want to join the club! These are the two cars I've narrowed it down after looking the past several months, so hopefully within the next month I'll have some pictures to post!

 

I highly recommend a broker I used to find the right car for you. I just bought a 2013 458 Spider from Allen Faulkner and got it at wholesale price. If you're interested please PM me and I can explain my experiences with the buying process. Allen can save you tons of money!

 

I am shopping for a used 458 too. But I am looking specifically at 2012+ MY over the first 2 years. This decision is primarily based on the new programming for race mode shifts and some extra handling stuff. For me coming from a 430 Scuderia this shift feel matters. I am wondering if this has entered your decision making process ?

In my test drive of 2010 , I felt the shifts were too soft and lacked feedback. I am not looking for the thud like scud f1 super fast but at least half of that jolt would be fun. A 2012 is roughly 20 k plus in price over a 2010. I haven't test driven a 12 yet but will shortly. Wondering what others feel about this program which at dealers cost ~ 10 k.

 

Some people like the programming of the '11 cars more. Single clutch F1 set up is much different in feel than the dual clutch se up.

I would be very careful buying a non dealer car. If it's at wholesale there is a reason. My car has been rock solid but if there is an issue........

 

I am just curious. If Allan Faulkner can sell you a car at wholesale price who pays him. Is it you or the dealer? And if he can sell cars at wholesale price why are people buying from dealers and paying retail?

 

When I was looking to purchase my 458 what was important to me was the correct color combination and options with reasonable miles. Not so much as which car can I buy for the least amount of money . If you find the car that turns you on make your offer and be done with it. I would rather buy the 225 k car if it's exactly what I wanted than the 200 k car that was just ok. I bought a 2012 over a 2013 with similar miles and less options. There is no time like the present bro , so happy hunting. EZ

Ps. 10 k off ask usually will buy you the car.

 

I have a MY 13 with 6k miles on it for sale. You get the balance of the warranty (till 2020) . It's on consignment at Ferrari of Tampa Bay, Rosso corsa, with black Daytona seats with red stitching and stitched Cavalino's in the headrest, rear challenge grille in CF, CF driving zone, Sat/Nav system, diamond finish wheels. Ask for Matt Randolph, best Ferrari salesman I've met. My F12 is on the water headed to the U.S.

 

Totally agree. Much more important to get what you want when investing this kind of money. How far from home are you willing to look? Shipping the car to you or going to pick it up is small potatoes when investing this much $.

Everybody wants a virgin aka low mileage car. If you are buying a garage queen it will cost more money. Would not be afraid of buying a car with some mileage if you are really going to drive it. I put on 7k miles a year. About triple what i put on my previous fcars...458 just too much fun to drive.

If you have real particular needs or are having trouble finding what you want, perhaps hiring someone with a good rep is worth it. He may be able to negotiate a price that will pay his fees. There are those on Fchat who know who the good ones are.

Make a list of what you want, then see whats out there. The cheapest priced one may not be the cheapest over time. I personally would feel better knowing i bought a reliable car vs one i had to think i might have to worry about. Since i just paid $9900 for a two year extended warranty you can see i have a low tolerance for risk.

Best

 

Allen charges a fixed fee ($3K). He will go out and find you the best car based on your option preference. He knows what wholesale prices are for cars and can negotiate for you. In my case, he was able to find a car that was selling at dealer prices at $287K. They got no buyers. Dealer was putting this car on auction. Allen was able to identify the reserve price at which the dealer would sell it for and he won the auction for me. Read my post thread titled "My story of getting my first Ferrari 458 Spider". He will negotiate like a bulldog for you, he'll steer you in the right direction in finding a clean car. After the he finds you the car, he'll help you arrange insurance and provide guidance in finding a good rate. He has a network of resources that can get you good deals on Clear Bra, ClearPlex, tinting windows, transporting your vehicle, etc... In the process, I became friends with him. You won't regret it. Let me know and I can give you his contact info.

 

If this guy is as good as you say he should have customers lined up around the block.

 

He does have a lot of customers. I'm just trying to help. Take it if you will. You sound pretty defensive, which is understandable. I was that way as well at first.

 

I am not disagreeing with you. If he can get a car for you wholesale that is amazing. I used to work for a car broker and wholesaler. He would never sell a retail customer a car at wholesale. The reasoning was that if the customer had a problem they would be coming back to him for recourse. He said it was easier to sell a car to another dealer and never have to worry about any problems coming back to him.

 

Keep in mind if you purchase a car with a warranty it's definitely worth the extra few dollars. If you don't you could wind up spending a small fortune. Like Felipe , I also opted for the 2 year extended warranty for 9900 because I had a bad experience with my 430. I wound up rolling the dice with no warranty and crapped out at the table to the tune of 15 k. Now I don't care what goes wrong with my 458 and I sleep much better. Good luck with your purchase.