458 Offer at MSRP

This is a close representation, but not quite true. For those people reading this thread that are serious 458 buyers, the thing Shaw doesn't mention above is that this is definately a business where dealers do everything possible to maximize their profits, just like we do. So, even though I had a strong relationship with my dealer and had purchased two previous 430 Spiders at over MSRP, they still wouldn't give me one of their 458 allocations until they had sold many at well over MSRP and the market had soften up a little. I've been waiting a year for that window to open, and it finally did 3 weeks ago. And trust me that I'm not short on persistance

So everything Shaw said is right on, governed by the market demand your dealer has in their paticular geographic location. I know for a fact that there are several buyers that have been waiting in line for over a year that are still not close to getting a car at MSRP, which in our market won't change for a while.

 

People have short memories.

458's and all the preceding models in the V8 range are run of the mill, unlimited production cars. They are worth less than a new model anytime.

Personally, with all due respect, anyone who purchases a modern used car for more than a brand new one of the same model is a FREAKING IDIOT!

However, having said that, if you want it now and you have the money available and you don't care what it's really worth, knock yourself out and get it.

 

If you think anyone who has charted a course through life that enables them to afford a 458 (even at above MSRP) is a "FREAKING IDIOT!" you have a very strange definition of 'freaking idiot'.

 

+1

What about people who rush and buy brand new V12s ?

 

The point remains. Run of the mill production cars (and yes, that includes Ferraris) are simply worth less once they are used.
And yes, I subjectively believe that anyone who pays more for a used car than its brand new counterpart, is a freaking idiot. Having the money to afford a 458 is not a measure of intelligence and common sense. It just means you have money.

And my final point in my first post also remains true. If you have the means and the desire, go ahead and buy whatever you want at whatever price you are prepared to pay.

 

MSRP is a "Suggested" price as the name says itself.
The real price of the car is what the market can bear,be it a premium or a heavy discount and that final (paid) price is the real one.
Just because someone does not care about "building relationship" with some car salesman,does not want to wait 2 or 3 years for a stupid car but wants to enjoy it RIGHT NOW,does not make him an "idiot".
Money is not the biggest asset in life (as Gordon Gecco said),time is. In most cases to skip that 2 year waiting list it cost barely $50k-$100k,puny amount for a lot of these guys,barely what it costs for a round trip flight from NY to LA and not even on a GV but a midsize shrimp of a plane.
It's all relative and time that we all have is very short indeed....

 

How would you like to be one of the several people who paid $50K to $100k over MSRP when the 599 first came out only now to find the same car is selling for $100K less than MSRP with just a few miles on them. Also found this interesting post.

For the future just take a look at what the Ferrari 458 Italia did to F430 prices. Even the once coveted 16M Scuderia has lost $50K in value within one year of its introduction. There's dozens of them for sale currently and some have been on the market for a year. Nothing's holding its value these days with the exception of the rarest of the rare. Even contemporary limited production cars are not safe. There are far more cars for sale than buyers. Credit continues to be a problem for only the best quailified and those types are few and far between. Lenders particularly don't want to fund the purchase of used exotices without huge downpayments

 

One writer quite succinctly described paying a premium for a used car as 'the silly tax'.
CH

 

Hmmm....seems like the "paying over-sticker" debate never goes away.

I paid sticker for both my 458 and my 430. And I got $5,000 off when I purchased my 355. I made the decision because it was right for me.

If someone wants a brand-new 458 and they want it now, then who am I to say they can't spend over sticker. Or to resort to calling them an idiot (although I don't think 410SA was being mean spirited).

Some people would say you're crazy to buy ANY car that costs as much as a house, regardless of whether you're paying sticker or not.

Does that make me an idiot?

I hope not!

But to play devil's advocate, then maybe I am nuts.

I could put that money to work.

Start a new business.

Invest in real estate.

Surely I don't NEED to spend money on a Ferrari.

Some people would NEVER pay sticker for anything.

Does that make them cheap?

It's their perception of value.

Some people would never buy a NEW car - Ferrari or otherwise.

Why?

It's what they perceive to be the best value.

VALUE means different things to different people. And some people are willing to spend money because it does buy them time saved.

That's what makes free markets so great!!!

BTW Absent - loved the Gordon Gekko quote!

However, with that being said: I can't imagine under any circumstances that a person in that position believes they are going to be able to sell it in a year and come out at break-even. Their eyes are wide open.

But maybe I'm wrong. Maybe the dealer is selling them a line of BS.

Bottom line, is we are buying these cars for our own personal satisfaction not as an investment.

 

Exactly. We can all make more money. But we can't make more time.

 

Funny you mention that...

I was talking cars with a few guys in CA a few years back. One of them had just recently bought the then-new 599 for $70k over MSRP... When the question of "Why?" inevitably came up, he simply shrugged it off - "I spent more on the flight out there (NY) to see the car". HA!

To those that can, I suggest that you do. Time is precious and fleeting.

Completely off-topic, but I bumped into an old friend of mine at the gym yesterday. He was in a wheel chair after he'd been hit by a drunk driver. Said he was just happy to be alive. Makes you think...

 

You bought two spiders over msrp and they would not give you an allocation? That is absurd. I would tell them where to go immediately.

 

OK, and??? What exactly would that do for me??? Do you own a 458??? Do you live in Los Angeles??? Have you ever bought a new Ferrari??? Do you know something I don't???

You're obviously an expect on the subject. Anyway, I appreciate your wise opinion

 

The buyer at that price is paying a huge, 21% annualized "interest rate" in return for getting the car now; 6 months early -- given today's interest rates thats not a very wise use of one's money. And that's assuming an all cash transaction!

How do I figure the 21%? If the car had zero miles it would sell at roughly a $25,000 premium over MSRP (based on an earlier thread). While $25,000 for driving it 4k miles is a pretty steep depreciation hit to the seller, if it equates to 10% of the cars' value for 6 months, then per year that's 21%.

 

It helps a lot to have a real good trade-in that you are prepared to take a whipping on.

Market price is market price and the MSRP is just that.

 

Cmon. We all know that is BS. Buying two cars above msrp- then having to wait for the third....?

Wheres the loyalty? Customer service? Etc.

I'm certainly no expert, and yes I've purchased a new Ferrari. But when the game gets as bad as that here - I will be exiting the game - and finding other methods of recreation.

By the way, there's supposed to be a new porsche super car being unveiled tomorrow morning. Hopefully as time goes on, and competition grows more fierce- everyone will have an easier time acquiring our dreams.

 

if i was you, i would try to keep on looking for a better price of a ferrari because im sure there is one that is cheaper, it is used but you also got to think about why he's selling it. If it sounds like it is a little weird reasoning then dont buy it because its an expensive car, cause 244k for car, better do reallly good research about that, just a thought. Did you see the ferrari website on how much they are selling there car for, the reason why is because im a sells person and if youd like i may be able to find a ferrari 458 italia for you. I know what you need and i know how to research a car, a good, reasonable and someone that is not willing to rip someone off like that.

 

Bottom line..it's a used car. No way, I'd give MSRP. If you can negotiate at least 20-25k off that, then that seems fair. Otherwise pay MSRP, wait and get exactly what you want without all those miles. Just MHO.

 

I would love to be one of those people!! Those are the people that don't give a moment's thought to losing $100k of value before the ink even dries on the check. If only I had those kind of finances.

It amazes me that some people think others are idiots for paying a premium -- as if the buyer doesn't know that the premium is money down the drain. The buyers paying premiums are simply much better off than the rest of us, and time has much more value to them. Nobody taking a $100k hit on their 599 gives a hoot. To think otherwise is just sour grapes.

 

where do i send the deposit and will you need ALL my details, or just social security and bank account info?

 

I am also looking for an instant buy on a 458. however when i visited the sf ferrari dealer they told me i could buy a used one that has something like 1k miles on it for 20k over msrp and order a new one. that way theyd push my spot on the waiting list up. when the new ferrari comes in i just do a swap for no additional cost. they also told me the first guy that got the 458 did the same thing except he got both brand new. they bought it back for what he paid for. so the guy knew he was gonna get a swap on the car. for this reason id imagine those 4100 hundred on that 458 are harsh miles. but still, if u really want an instant buy and u dont care about the mileage, ud better go for it. cos the ones ive been offered are all above 285-290k. u wont have an easy time finding a cheaper one.

 

4100 miles is a long time to run on an 'unregistered' car..........that's highly questionable in my mind.....

No idea on 458 values here........but DO agree with 410SA....Napolis says much the same...the "old Days" are gone, and they won't be coming back......

Oversupply........BIG time.

 

Buy the car!!!

 

It does seem "a good value" the 16M I saw 'available' was like $317K.

 

Lake Forest has a used 458 on its web site with about 2100 miles for $279k. I do not know what the MSRP was.