New 2015 458 Right of First Refusal Agreement

**** them. Buy elsewhere. I believe this is the perfect exemption from the territorial BS.

 

I had to sign this as well at the dealership where I bought my 458. I believe, even though it's totally outrageous, its standard procedure at many of the dealerships.

 

Just had to sign the same doc for my F12, but it was only if I decided to sell it before the first year of ownership. Pretty standard here too, don't really mind because I don't plan on selling it in the near future.

The deposit is a little strange, I have ordered before and basically it is "semi-refundable," at my dealer. Basically I put the deposit and if the car comes and I don't like it, that deposit can go towards any other car I like at the dealer or a future order.

 

Yea that sounds pretty ridiculous, especially knowing that the replacement is around the corner. I wouldn't want to be restricted, if I were in your shoes, to sell an out going model to one particular dealership. They basically have you at their mercy especially if you decide you want a new model. I understand for new cars, like the F12, or even a Speciale. But honestly I wouldn't sign a two year first right of refusal.

Do you have a good relationship with the dealer? Explain to them your situation and see what they say about the replacement....

 

First right of refusal is fine if it is at the price you want to sell the car for. If they can determine the price then I wouldn't touch that deal. So if the car is worth 275k and they say we will take it and pay you 225 what do they expect you to do?

 

Is this the SF or SV dealer?

 

I think they are just trying to protect themselves from 'flippers'. If you are going to keep the car two years it is not a big deal. If you want to sell it in one year or less that is different.

 

The first right of refusal contract is just the cost of doing business with Ferrari. I think you'll have a hard time finding a CA dealer that will do a sale without signing it.

That said, my experience with FoSF has been outstanding. I signed when I bought a California. I rationalized it by knowing that I wouldn't try and unload this car on AutoTrader or Craigslist so I'd probably just trade or consign through the dealer anyway. A couple of months later, the California just wasn't doing it for me so I traded up to a 458. I was genuinely surprised by the deal they put together to do the swap. These guys are really about repeat business and I've had nothing but very straightforward negotiations with them. So they'll give you a good, fair market price on the trade I'm sure.

The dealers have this contract in place because there are so many owners who flip cars frequently. They are mostly lightly driven and extremely well cared for so the margins are pretty good selling a 458 2 or 3 times.

As far as the deposit goes, I don't really have any experience with that. It seems kind of high to me, but not sure what the standard is here. Unless your spec for the 458 was something really bizarre I'm sure they would work something out if you didn't want to take the car when it comes in.

 

20k should be the deposit Chris. Coupe or Spider?

 

Chris, I think you are reading that first refusal thing wrong. It's at the price it was sold to you not any price they deem appropriate/applicable. I mean imagine the situation in 18 months if you decide you want the new version. Market is 200k and they offer you 200k, but you find a buyer that loves your particular car and is willing to go 220k. They aren't going to hold you up. That's not the way they do business. If however the market for the car is $300k, they will only give you the original 250k you paid for it. Of course, you can do whatever you want and sell it at 300k, but you will get blackballed for it. (ie. Ferrari doesn't sue it's customers but it is an agreement you make)

 

I hope you are right about this. I really do!! Did you have this experience? Has anyone here?

I have a 458 on order due in June and I hope to get on the list and trade in for the new model spider. I would be happy to get what I paid for it when I trade it in.

 

Then why do you want to buy a new 458 coupe so deep into the model run? Sounds like you are already thinking of the next car. Can you find a nice used one with a factory warranty that meets your needs? I feel like if you buy a late run 458 coupe you will loose more money when the new model arrives than had you bought a new 458 early in the run or even a nice used one now. My $0.02.

 

My last 2 Ferraris I signed nothing of the sort. In fact i just walked and payed cash for a new 2014 coupe and the only thing I signed was the title. Guess its dealer to dealer??? I assume they could ask for first right of refusal but I guess I would always ask them first regardless--much easier than putting the car on the market and having lots of people with no means or real intent waste your time. If they don't want to pay what you felt it was worth they just say no?

 

That's what I love about not having a dealer within 100miles. I can buy from any dealer I want. Makes it easier. You aren't stuck with any one dealer.

 

Standard operating procedure at my dealership. $7500 when I put my name on list, $20K when I received allocation the next month and locked in my order. Dealership also kept the $37K in equity my California had when I traded her in 5 months before I took delivery (none of us foresaw 2 months of transport. Blame the inclement weather in NJ).

I did not have to pay sales tax on the trade-in value of the Cali, this alone was worth the wait.

+1 although IIRC my signed contract does mention "fair market value" but I guess buying the Spider and immediately flipping for $50K over MSRP is not "fair market value"?

Bottom line is if one flip's the F-car for a profit within 12 or 18 months, one is never getting an allocation for a new F-car through my dealership again.

OP was looking for low mileage used examples for weeks. As he's not going ballistic on options, price is comparable between used and new and he prefers a bespoke Italia.

 

I signed a 2 year agreement.....it is no way enforceable in the court of law....if broken you cam pretty much count yourself out of getting a new one again.....This is straight from my dealer.....

Sent from my SM-N900V using Tapatalk

 

+1 I have never been required to sign but have heard this has become more the rule than the exception. I have not heard anyone on this forum complain about a problem with the agreement and would be curious if anyone here knows of a problem? As for the down payment, I have always had a refundable down and when the car came paid cash. I have no idea what would have occurred should I have special ordered and then walked. Never occurred to me frankly, but life happens. Best

 

To me a first right of refusal means that if you decide to sell the car for an agreed upon price with an individual then the dealer would have an option to match that price. ( I think) As far as the Special Order Acknowledgement Fee if it's in the state of Texas the dealer cannot keep your deposit for any reason if you decide not to buy the car. This type of Fee is considered a deposit when it is applied to the purchase price of the car.