Image Unavailable, Please Login Went out to dinner last night with one of my close friends, and he brought his Speciale. it was extremely dirty and I made fun of him so he proceeded to go to car wash in Queens after, and sent me a picture. I figured it would make a few OCD freaks who bubble wrap theirs with 2,000 miles a little uneasy so I had to share. Car is used and parked in NYC daily. Life’s short folks. Sent from my iPhone using FerrariChat.com mobile app
You're right, that sent shivers down my spine seeing that. Would never happen on my watch but it's his car, do whatcha like.
Are the prices really up? I mean they have always been high 300’s to low 400’s cars. With the recent sale on BAT, it doesn’t feel like there much change at all. If inflation is taken into account, it’s even more flat.
I have a deal agreed to on a Speciale and I am inclined to use Ferrari Financial Services but the rates seem pretty high, as much as 4% above other loan sources (12.49% for 60 months). Does anyone have any advice or guidance for dealing with FFS or is this a good way to go to get the deal closed and further the relationship with Ferrari? Any advice is appreciated.
the added rate has some benefits, yes. Having a relationship with FFS is quite handy for the future and they also do not report to your credit so you wont have any DTI or PTI issues for other things you want to buy... and it's still simple interest so you can always pay to principle to manipulate and lower your rate yourself.
No I don't think so at all, Ferrari is just glad to provide the financing......Here's my solution...PAY CASH! or wait till you can pay CASH. Its the only way I've ever done it, if I can't pay cash for something like this, I don't buy it till I can. Figure it out, you can do it, or wait its that important.
You should also be mindful that the purchase of the car won't be the only expensive part of becoming a Ferrari owner. It is also expensive to properly maintain the car with annual maintenance, insurance and the possibility of repairs. So if you need to finance the purchase, an expensive repair might be problematic.
I can't say I've seen a Speciale go for high 300s on the US market. I would say mid to high 400s is where ones with some miles go at. 500+ for low mileage examples. And they seem to be holding pretty steady even as other brands and models are falling off.
Decently low mile w/reasonable spec selling mid-500 range in US, off Covid-insanity highs but pretty stable, especially considering lower velocity/volume at the moment (i.e. winter lull)
Thanks for the reply. I’m borrowing less than half the purchase price because I don’t want to sell any assets (equities or other cars I own outright) to pay for the car. I’ve never used FFS before (wish I had when rates were much lower) but just wanted to get advice if anyone has used them. They knocked down my rate by 75 bps more so I’m OK with it at this point.
