488: What's the best way to buy this car?

He’s swinging for the fences! Plus, he’s been around hardcore guys since 2008, bro.

 

Best way to buy is with a submachine gun and a case of Cuban cigars. Don't stop for the sirens...

 

i would steer clear of a "wealth adviser" driving a leased 488...

 

I think your main query has been addressed, that is - there is no way to buy a 488 and maintain its value for any reasonable amount of time. If there was a way - then everybody would do it correct?

I've also given you a clear path to network with Ferrari owners and organizations that maintain a certain level of exclusivity and opens the doors to participation (i.e. TR/BB.) A 355, in my opinion, is a screaming value right now, and that price of entry is a fraction of the cost of a 488.

That will allow you to participate in Ferrari Club rallies, shows, etc as a Driver and Owner (not that ownership of a Ferrari is not a litmus test to join a mainstream organization, all you need is simply the appreciation for the marque.) But based on your description of your situation, being an owner is your goal, I assume to reinforce a fraternal level camaraderie with potential clients.

If you want to play with the big boys, then being a Tier 1 Client with Ferrari is the only way, that means buying a lot of Ferrari from a dealership, participating in FXX program, Corse Clienti, Challenge etc.

If you MUST have a 488 though, perhaps one of those fractional ownership clubs might be a solution.

Kind Regards.

 

Please understand there's only you who can decide the best way to obtain a Ferrari

Leasing a 488 is the complete opposite of any other brand, like Mercedes BMW, Toyota, etc. With those brands, you're essentially NEVER in an equity position, meaning the amount of the lease buyout is always greater than the value of the car. This is because their finance arms (Mercedes Benz financial, BMWFS, etc) artificially inflate residual values as a promotion/means of moving cars.

Ferrari does NOT do this, in fact the opposite. They lower their car's residual value and you BUY the car at the end of the lease term (or even before it if you decide to do so) to recapture that equity you paid into. This also provides a hedge in case of accidents (closed end) so you don't get hit with an additional $30K-50K in depreciation. (Here's a classic example: https://www.ebay.com/itm/2014-Ferrari-458-Spider-310k-MSRP/123202482310?hash=item1caf70b086:g:aMMAAOSwv5NbKrt4)

There are many in the Ferrari world who have inherited their wealth, so they simply don't care or have no financial acumen. A few hundred grand loss means nothing to them, or they don't know how to invest, so cash it is upfront.

Some decide to pay a deposit upfront, finance a depreciating asset, and use the other funds to invest and receive a rate of return far greater than 3-4%.

There is no one size fits all, be your own judge and decide accordingly.

 

Very good post above. Just know that no matter what you do, owning a new Ferrari will cost you 25-40k a year. Period. If you can’t stomach that- buy something else. Very rare to make money on a Ferrari unless you buy a la ferrari, etc.

 

For sure! But is the best and fun therapy you can buy!

 

im not sure why you would post the personal information of someone here. How is it relevant to the discussion?

 

Agreed, I believe the poster is asking his question in good faith.
To OP: I wish you well, hope you accomplish your goal.

 

Where to start.

RaceMx-M3 banned until Friday for promoting his website here and for having his website listed as a part of his name, which then shows in the header of all of his posts. A MAJOR no-no.

Andial - warned, no ban. Posted information that was available on the web, which he obviously found based on race's posts. But still bad form, info deleted.

C'mon guys, play nice.

D

 

This thread brings back memories of Mr. Reza ( Blue Sky ) Mokhtarian. Call me crazy.

 

I hate when people come on here asking if buying a Ferrari is a good investment. Come on you Bozos! By the car for what it is.
Drive it and enjoy it like a true owner into the brand
Unless you are on the list for a limited edition model or own one already you are just a wannabe.

 

Sorry all, OP was acting shady unnecessarily. Wanted to clear up their reliability.