New F buyer... how does the process work?

Based on the data I've collected, Ferrari Authorized dealers tend to list cars for about 10% more than independent dealers list them, and that's 10% higher again than BaT results (including fees). Depends on the car and dealer but you generally can negotiate down some of that difference.
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How long cars sit just depends on their spec and how they are priced. More unusual specs will sit for longer, unless they are priced low. Dealers will always talk about how many inquiries they get regardless though.

 

Good Luck in your search, it is a large part of the process.

Pricing is not always apples to apples.

The biggest difference when you purchase off BAT/Auction/Wholesaler, is that you get what you get. Not all the time but more often than not, the car truly is " as-is " and things may only be addressed if you catch them prior to sale. Where as Dealerships usually maintain a higher level of reconditioning, which translates to higher costs. Both of these statements are broad and not all encompassing. There are always exceptions.

A CPO Ferrari requires an itemized checklist be performed BAT requires as well written description and carefully taken photos...

Get a PPI, trust but verify, but not all sellers are going to be open to it. Doesn't mean its a bad option, but due your due diligence.

Pricing, offer what you feel is fair for the Ferrari you want. If you are looking to " deal " that's another discussion ;-)

Inventory turn over, Ferrari's sit longer than Toyota's... 6, 12,18 months... it happens. Some are consignments others are simply inventory.
Heck, reconditioning can take 3 months before its even ready to sell, but it will be listed online in advance. ( Soft touch repairs take forever! )

Have fun,


S

 

Go to the advanced search tool:
https://www.ferrarichat.com/forum/search/
In the "keywords" section, put "PPI"
In the "Search in Forums" section, scroll down to the regional area (e.g. South Central - TN, MS, AL, GA) you are interested in.
Click the "search" button.

If that doesn't result in the answer you are looking for, put a posting in the corresponding subforum for that region and ask for a PPI recommendation close to the city the car is in.

Keep in mind:
Ask the selling dealer if they have an open bay with a lift for the PPI work to be done in.
If the shop doing the PPI is close enough(within 30 miles), a lot of dealers will drop the car off there for a day for a PPI to be done.
Some PPI shops will travel a long way (I've paid for one to travel 150 miles) to do a PPI. You will have to pay travel fees, and potentially hotel fees if it's a really long distance.

 

Yeah, that service is handled by the guy you see in the mirror every day. Most good PPIs are handled by independent service centers. If you see a car you want to inspect, put a post here in the regional section asking who good indys are in that area and contract with them.

If you find one that passes the PPI, do yourself a favor and fly to the location to close the deal in person. Not only is it really fun, but you can tell alot about a seller looking them in the eye.

My other advice is to drive both cars first, they are very different from each other (full disclosure, one of the two you mention I really didn't like) so you aren't chasing multiple models at once.

 

Congratulations welcome ..In regards to buying an F12 or 458 either or one of each they are among the best of the recent Ferraris.
I have to say I would rather buy a used one from a Ferrari dealer. I have gotten great deals on used Fcars in the past by offering whatever you are comfortable with. never know. However there are so many of these cars that are available just take your time and go for it…
Good luck
LARRYH

 

First F, I suggest PPI even for CPO. Go 458.
Good specs car can be sold in a day or 2. Average spec can be months.

 

Everyone has their 2 cents on this matter. There is no right or wrong answer. All used car purchases are a krapshoot. But if you buy a CPO car from a dealer, usually you can negotiate some kind of limited warranty or purchase one. A dealer will not sell a severely crashed or trashed car. Scratch on the bumper? Sure. More, no. If they get one in trade they send it to an auction or a used car dealership.

Most indy shops don't want to do PPI anymore. If something goes wrong they get blamed. If its a potential new customer they might. If you're in and out, its not worth their effort.

IMO, I would never buy an auction car of any mass produced car. Its like picking out a wife from a photo and description on Facebook. All you can do is look at it and "trust" what is presented. IF you have knowledge about the car and its history it might be a way to go. But personally I would rather talk to the actual owner and look over the issues, history, and records. So, I would buy one from an owner directly rather then a auction or used car exotic dealer. But that's just me.

458's are pretty good cars when it comes to reliability. And there are a lot of them. But when they break, they are a bunch of money. So have a budget you expect to pay for it in repairs in the first year. If you don't need it, you have it in the bank. If you do, don't whine about it because you were already expecting to spend that money.

IMO, find your shop or mechanic you plan to use before buying. Walk in and have a conversation. Look around at what else is there and the general condition. Ask questions about general maintenance and costs. Be comfortable with them because when you need them, they are going to be important to your overall experience. And you might just need them right away.

If you don't like what you see and hear -- walk and try go find another shop. But most likely you will like the shop. Starting a relationship early will give you confidence you have the right party if something goes wrong.

Here is my last bit of advice. This is not a game of finding the "best deal". You don't buy these everyday. Its not a contest. Find the right car for you at a price you are willing to pay. Get one in the colors you want, as close to the options you want, the mileage you will accept, the general condition you expect, and a price you are willing to pay. Never let a good one go for a few thousand dollars.

 

Hated the 458, not enough torque, boring interior, too isolated....like something Mercedes would build. I drove it in between 2 Huracan Evos , which are great fun to drive with good torque and alot of theater, excitement.

I own a V-12 and what they say about every true car guy owning a V-12 once in his life is very true. The trouble with most Ferrari V-12s though is that they are set up as GT cars (except for the 812 from what I hear, so see if you can stretch to that), whereas Lamborghini V-12s are not only mid engine but are set up as sportscars.

 

love both the 458 and f12 - both are fast enough on public roads and you have to be an extremely good driver if you're at their limit and require more on the roads imo

 

It’s very exciting to be looking at these cars. 458 is very sharp and a bit “jet fighter for the road”. It wont be as familiar as a typical front engined car. F12 is faster, but also more familiar, as the engine is up front, you can think of it almost as a “Ferrari M3” or even a bit of a “Ferrari muscle car” except no muscle car has that engine. Both engines are fabulous, but the V12 may be the greatest mass produced ICE ever. Dealer or auction is an interesting question. Pros and cons for both have been well laid out. One of the other advantages of purchasing through a dealer is you should feel a bit more a part of the family, depending on you and also on the dealer, this might not be worth very much to you, but I think its worth pointing out. It also might matter if theres ever a chance you might buy another one of these things.

 

Dealer vs indy vs auction is a tough one - in today's market, well spec'd cars do not last long. Just hawk Miller's inv and you'll see what I mean. A grigio f12 with brown interior will last a few days and get sold. A white on white 458 will sit for ages. The same can be said for the real estate market right now. Buyers have the power and are able to be more selective. Any dealership will say they're getting a ton of inquiries. Its the same as listing something on facebook marketplace. You'll get flooded with 'Is this available', but how many of those actually mean anything. If you're listing a house, you'll get hundreds of showings, but how many offers. You get my point. I typically buy from dealers who are willing to deal or reputable indys. Read reviews, or go see them in person.

Always PPI. Find a shop thats willing to do it for you. Be very transparent about what you want them to check. YOU do your research and go through each of those items with them. Don't ask them a broad 'any issues' question because thats just you being lazy. Ask stuff like 'were there any stickys', did you take off the underbelly pan, were there any leaks around the oil pump, does the headliner have any sag, hows the red crinkle paint, any chips, etc. etc. etc.

Go in with your price on what you want to pay for the car and negotiate. If you wait for a price drop, you might miss the deal.

For what its worth, I also cross shopped f12 and 458. If we're speaking stock builds and no modifications to suspension and exhaust or power, the 458 is naturally more sporty with tighter suspension. You can carve b roads easily and feel very comfortable. Its also got a fairly loud out of the box exhaust, and even louder for 2011 and 2010 models. The f12 is way way softer and has much more body roll. It is more comfortable in this regard. You need to learn the car more so than the 458 which you can more easily point and shoot if driving aggressively. The f12 engine is amazing and the power really is something special. While its not loud at all, the tone is amazing. Prices will be +50k on the f12. I ended up with a 458 because I wanted the mid engine experience and was having a hard time finding a good spec f12 I loved.

 

This is worth repeating.....YOU, as the buyer, is in charge of the PPI. Have a list of items you want them to check, what you want photos of, what you expect to see in the way of a report. And good PPIs cost money. I paid $1,000 in 2014 on the first car I bought and $1,500 in 2020 for the second.

 

Right. And they are addictive...

 

I drove an F12 to my favourite Ferrari Indy and the owner liked it so much he bought one. I found it a bit boring. Amazing engine though.

458 was great fun when pushed on twisties (I may or may not have been breaking the speed limit considerably) but also a bit boring when not. Lovely engine also.

Ferrari went through a phase of making slightly boring road cars at that time. 458 less fun than 430. 599 and F12 lost the dual nature of the Maranellos, which could be louche as well as fast - true GTs, and became too competent and engineered, a bit like what happened to Porsche with the 991.

812, 296 etc turned it around.

458 still a great buy if you can drive it properly fast. F12, you’ll need a track to get fun out of it, a bit like a 991 GT3 RS.

 

458 near top of F food chain for aficionados. A few of the v12’s are good also.