Why so many 458s on the market??

now I trust, that you now believe me about being not quick enough on the one for 132k

 

Everything zen ...listen to your inner wisdom. Seats are rare, interior is stunning (to me). Not worth it

 

well everything which starts in another market is coming to your market too sooner or later, so no tears pls. when low mileage 458's are 150k in the US too, its global deflation

 

+1.....I just wish she came in a 6 speed manual.

 

beautiful

 

& here is an absolutely as new 599 list $430k for $190k with less than 2K miles FERRARI 599 GTB HGTE, Occasion, Benzin, 1'600 km, CHF 189'000.- - AutoScout24

 

I always thought ferraris are "cheap" in US but it seems like in Europe they are even "cheaper"

Aren't they twice as expensive in Japan or Australia?

 

yes thats due to import taxes

 

That's why I'm hanging onto my 6MT F430 Spider! Fred

 

Yup off lease with another new "mistress in mind", this latest example has also sold with 4 days at 145K

 

$50k...

😜

Kai

 

Have been in the market for a used 458 red spider ever since my 430 f1 red spider was totalled in mooresville, NC, back in September 2015. The prices have really dropped for the 458 spiders. 6 months ago, I couldn't find anything under 220k . but yesterday I signed a lease for it with a 220k price tag, I got a 2012 red 458 spider with 21k miles, but had to go to California to get it. For the many that has asked about leasing examples, I can tell that with a $35,000 down payment (including tax title and fees) the lease for 60 months, a $102,000 agreed residual at the end of the lease and unlimited mileage, the cost was only $2,540 at Premier Financial... now I only have to pickup the car as soon as the snow stops and the airport opens again in Charlotte. ...

 

its going to cost you 95K to drive a 4 yr old spider with 21k miles for 2 yrs and you think you got a deal? are you being sarcastic or am I missing something? over 60 months you ur paying 190k - why wldnt you just buy the car for 220?

are you able to write off the payments somehow? even with that the math doesn't make sense to lease this car

 

When you own your own company, it often makes sense to reinvest in your own successful business, instead of a deprecating asset. In other words, if you can achieve 15-20% ROI, why would you"save" 4.4% interest on a lease? -simple math. Using other people's money at a lower rate (if you have great credit) makes 100% senses. ..

 

yeh but its still a zero sum game no? pay 220 today. sell it for 140k in 5 yrs - that's 80k. so lets say you take the 110k difference and invest that in ur business aren't you better off?

 

I'm confused about this deal too. Is the $102,000 residual your purchase price at the end of the lease should you decide to exercise it? It seems like you're paying $152,400 over the five year term in addition to the $35,000 down payment (which I understand includes title, fees and probably substantial taxes), and then still "owe" $102,000 if you want to buy it. I didn't run the numbers, but if I understand that correctly, the interest rate is much higher than 4.4%...I think??

 

Nope. It is 4.40957% , trust me I used to be a banker, math professor, and financial analyst for a couple of major banks/firms. If you can afford it, this is as good of a lease deal you can find for a 458 spider right now.. Naturally, this may change as more people trade in their 458 for a 488 and prices drop. But, then again, lease costs may increase as interest rates keep rising as well. I think sometimes you have to look at the enjoyment and simply accept that it's going to cost you money. ..

 

Yep. Premier is a bit a of a rip off. I did 2 leases with them around 8 years ago. They charge close to 8% and the residual value is not an option to turn in. It's actually a balloon payment that is required. It's much much cheaper to buy the car for cash regardless of the payment "write off" as only a small portion is allowed unless you want a nice audit. Lastly the 35k is mostly profit for premier as it only includes first and last payment and "fees" as well as a cap reduction to get you payment down. Taxes are included each month with a lease. Basically he is paying $290k for a $220 car.

 

wait maybe that's the piece we are missing. after the lease is over let's he sells the car for 150k, he pays premier the 102 and he pockets 48. so the over all cost goes from 290 to 240kish?

 

You are right. It is actually close to 290k for a great deal on a 220k 458 spider over 5 years. But, look at the alterative. If you took the lease and then placed your 220k in municipal bonds instead of paying cash, (New York is around 4.6% now) you would gain $10,120 per year for 5 years. Or $60,600 for the 5 year period. So, buying a Ferrari is going to cost you money. Either as a direct cost, or as an opportunity cost.. If anyone don't like that, one can buy a Toyota Primus for the $35,000 instead (less fun though)
..

 

I still don't get it - take the 220 buy the car. take the 70k and invest it in anything u believe is worth investing in. after 5 yrs sell the car. take that 150k and invest that. you paid 70k to drive a car for 5 yrs. it seems doing it ur way wld only make sense if u cldnt afford to part with the 220k today. if that's the case that's fine too, but telling us we can't do math is a bit disingenuous.

 

Or you could take 290 and buy a 2016 488 spider new, drive it for two years and sell it for 315. I'm convinced these leases for the most part, are for people who can't afford the cash purchase and are trying to manage cash flow to drive a car they can't really afford. I tried these leases years ago as I mentioned as I was given the same bs (write off, invest the cash you don't use etc) and the out of pocket was always higher than if I just payed cash so now that what I always do.

 

anyhow congrats on the car and enjoy it in good health

 

Lot to learn about financing... try a class in basic financing. Nothing is free, but understanding basic financing is key, as is accepting that driving a Ferrari costs money. However, for many it is well worth it, but could do without sniping remarks when you share basic information. .