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Unique Ferrari Financial Question (F40)

Discussion in 'Ferrari Discussion (not model specific)' started by Turboflat666, Jan 21, 2023.

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  1. Turboflat666

    Turboflat666 Rookie

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    Timothy V
    #1 Turboflat666, Jan 21, 2023
    Hi I’m a new member here. Would appreciate if any has info to share on my classic Ferrari purchase and financing.

    I’m buying an F40 located in the USA through a broker abroad. It’s an off market car. I’d like to finance it through Ferrari Financial for many reasons but I will not disclose. Ferrari Financial is only available through official dealers? What are my chances reaching out to corporate for the financing or should I contact a dealer willing to go through them?

    kind of a sticky scenario. Your answers are greatly appreciated
     
    Ryan S. and Texas Forever like this.
  2. Thecadster

    Thecadster F1 Veteran
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    #2 Thecadster, Jan 21, 2023
    No clue on any of the Ferrari Financial stuff, but bravo on an incredible first post. Welcome to the forum. Good luck in your acquisition.
     
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  3. greyboxer

    greyboxer F1 World Champ

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    #3 greyboxer, Jan 22, 2023
    My sense is that FFS may not offer the best rate - there may be other finance provider suggestions experience in the F40 section
     
  4. Turboflat666

    Turboflat666 Rookie

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    #4 Turboflat666, Jan 22, 2023
    thank you but if you read my original post- the subject is specifically about FFS, not rates.
     
  5. ttforcefed

    ttforcefed F1 World Champ
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    #5 ttforcefed, Jan 22, 2023
    FFS isnt financing a car they arent selling.
     
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  6. Turboflat666

    Turboflat666 Rookie

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    #6 Turboflat666, Jan 22, 2023
    My initial impression as well. I I have financed through Porsche dealers on off market cars in the past, at dealerships I had relationships with. What are the chances I have a dealer assist me? They would get commission on the financing correct?
     
  7. ttforcefed

    ttforcefed F1 World Champ
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    #7 ttforcefed, Jan 22, 2023
    i think also cloze to zero.
     
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  8. ttforcefed

    ttforcefed F1 World Champ
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    #8 ttforcefed, Jan 22, 2023
    have them buy the car for you, it will cost you but i cant see them financing the car any other way. i have only financed my TDF because they wld not let me buy it outright so i am not an expert
     
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  9. Turboflat666

    Turboflat666 Rookie

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    #9 Turboflat666, Jan 22, 2023
    Thank you for that suggestion. I could try
     
  10. ttforcefed

    ttforcefed F1 World Champ
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    #10 ttforcefed, Jan 22, 2023
    where in CT are you?
     
  11. Turboflat666

    Turboflat666 Rookie

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    #11 Turboflat666, Jan 22, 2023
    New Canaan
     
  12. ttforcefed

    ttforcefed F1 World Champ
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    #12 ttforcefed, Jan 22, 2023
    sending you private message
     
  13. JAM1

    JAM1 F1 Veteran
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    #13 JAM1, Jan 22, 2023
    PM me. I have Ferrari contacts that can assist you.
     
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  14. Jack-the-lad

    Jack-the-lad Seven Time F1 World Champ
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    #14 Jack-the-lad, Jan 22, 2023
    Is there some advantage to financing through FF vs. a non-captive lender? I imagine they sell the paper anyway.
     
  15. mkraft3003

    mkraft3003 Formula 3
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    #15 mkraft3003, Jan 22, 2023
    A number of advantages. For one they don’t report the loan to any credit agencies. This can be a huge advantage if you are trying to have clean credit for a business loan. Another advantage is they offer balloon financing which very few lenders will do.
     
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  16. Jack-the-lad

    Jack-the-lad Seven Time F1 World Champ
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    #16 Jack-the-lad, Jan 22, 2023
    Sounds good.
     
  17. 19633500GT

    19633500GT F1 World Champ
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    #17 19633500GT, Jan 22, 2023
    Please bring it to C&C in the spring.
     
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  18. Prancing 12

    Prancing 12 F1 Rookie
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    #18 Prancing 12, Jan 22, 2023
    Some of the replies aren't touching on the right points.

    Firstly, your OP wasn't exactly clear - is the car located in the US and you're simply dealing with a broker located abroad, or are both the car and broker located abroad.

    If the car is located in the US, with a US title, I know for a fact that you can finance with FFS. BUT, technically in order to do so, the car will have to be bought and resold to you by a US Ferrari dealer. In my experience, the dealer will be satisfied with the money they make on the finance and not markup the price of the car, but YMMV. They'll also likely want to have the car inspected, since this will effectively be a retail sale for them, and they don't want to be caught holding the bag.

    If you need, shoot me a PM and I can connect you with a dealer I know that's done this before.
     
  19. ttforcefed

    ttforcefed F1 World Champ
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    #19 ttforcefed, Jan 23, 2023
    we sorted all this out minutes of my last post in this thread yesterday. OP is in good hands.
     
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  20. JSinNOLA

    JSinNOLA Two Time F1 World Champ
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    #20 JSinNOLA, Jan 24, 2023
    *golf clap*

    Job well done!
     
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  21. Turboflat666

    Turboflat666 Rookie

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    #21 Turboflat666, Jan 29, 2023
    Thank you friend and the community for the assistance

    It was that easy. Done deal.
     
  22. Turboflat666

    Turboflat666 Rookie

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    #22 Turboflat666, Jan 29, 2023
    100% As soon as its on my hands ill bring it to the weekly Sunday morning meet up on Pine Street
     
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  23. Jdubbya

    Jdubbya The $10 Trillion Man
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    #23 Jdubbya, Jan 29, 2023
    And post pics here too please for those of us who won't see it in person. This place is a great resource for info and contacts!! Congrats on the purchase, enjoy it!!
     
  24. ScottS

    ScottS F1 Rookie
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    #24 ScottS, Jan 29, 2023
    The answer is for future reference that now FF has a consumer facing service for Ferrari. They have confidence in the collateral especially a F40.


    Sent from my iPhone using Tapatalk
     
  25. willcrook

    willcrook F1 Rookie
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    #25 willcrook, Jan 30, 2023
    it's nuts aint it, I've experienced the same before - I even pretended to walk away from the deal to call their bluff but they weren't kidding and would only sell me the car under finance (£200k car)
     
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