Hi All, long time reader first time posting. I have been studying 355's for about a year now. I have looked at a lot of them, driven a lot of them and feel very knowledgeable about what I am getting myself into. I have been ready to buy for about 2 months now and I guess what I don't understand is how some of these dealers make money based on what they want for their cars. Yes, I do know this has been discussed before but mostly by people who are pissed off. I want to approach this subject from a different angle though in that I enjoy the looking/negotiating process. I will call a dealer that has a car listed. A car that I have seen 100 times in the past for $75K to $80K depending on mileage. And yes, records, books, etc. For the same car some dealers will want $100K to $120K and they won't come off. Isn't $120k more than these cars ever sold for new? I guess what I am trying to say is are their people out there who don't know anything about F cars and will just walk into a dealership and give these guys what they're asking for? If so, are there enough of them to support these dealers? I feel if someone has the money to just drop cash without thinking about what they are doing why wouldn't they just go drop cash on a brand new one instead of a '97? I have a really close friend who is a GM at a Porsche dealer. He shows me what they pay for them for trade in. These other dealers have to be in the same ballpark. Every dealer I talk to tells me "oh I got the car for a Caddie dealer who got it on trade from an old man who has a lot of these cars and loves spending the money to take care of them". How could they all get their cars from the same person? I do not want an auction car, I want a well cared for car with all documentation and am willing to pay for it. I just want to know if dealers really get this kind of money for cars. Sorry for being long winded.
I think you prety much hit it on the head. THere are people who will walk into a dealership with a suitcase full of cash and pay the asking price because they have not done the research. They are not "enthusiasts", they just want an F-car. I have been seeing the same thing with 348s at dealers. Cars that should be in the mid to high 50s are being sold for high 60s, even 70's.
The part about waiting for someone to walk into the showroom who just won the lottery and has never heard of the internet is probably true to some extent in certain markets......but then again.......dealers will always get more money, simply because we can. Most dealers usually re-condition their resale inventory "accordingly" adding to the cost. We have an implied liability as experts to know what we are selling and are held to a higher level by the courts than private vendors in most cases. This is one major reason for higher prices. I have spent between $5-10K on a car depending on what it is. Now.......... Is the private vendor going to get your financing set up for you, take your trade-in from you and inventory it, re-condition the car you are buying before resale and provide you with a warranty if required ? Of course not......you get what you pay for in most cases. And these things cost money. Add accordingly. Having said that, there are crooks out there and good deals to be found......on both sides of the coin. The next time you see the car you want, at a price that is too good to be true in your opinion, a dealer like me may have looked at it the day before and is phoning the vendor, as you are driving away to go and analyze why it is too good to be true. Only time and experience will tell you when to strike at the first look........
Dealers even ask $50k for 3.2 Mondials, as mentioned in the Seattle Ferraris thread. If you're serious and they take you seriously, I think they'll negotiate much closer to market value.
There was a brief moment in 2000 when a Fiorano 355 brought $200K at FBH!I recently saw the same car on Ebay with a "Buy it now" price of $139K (the bid was nowhere close by the end of the auction). DL
Yeah, I remember in 2000 when people were rabid for 360's, I saw some 95-96 355's asking around $125k at dealers.
without being to harsh sounds like you have driven a few so every one that you have driven has to be cleaned again you have been looking for two years how many sales hours have you taken up so all this has to be paid for your mate with the porsche garage why doesnt he get you one do you really want one there is loads of lookers and messers where ferraris are concerened if you was the salesman and somebody came in and said i want to buy a ferrari i have been looking for 2 years and driven a few but i know what price they are yours are to dear. what would you do?????????????
If you look hard and long enough you CAN AND WILL find the right car @ the right price. I had several opportunities to purchase cars at or even below what the dealer was offering to the seller. As an example I had negotiated to buy this car for 105k back in April http://www.dupontregistry.com/search/srDetails.asp?itemid=128469&sessionkey={EA57ADCB-E448-4B4E-9714-102FA273B73E} , but decided on an F1 instead and paid even less (given all the options on my car). A dealer ended up buying it. He was negotiating with the seller the same time I was, but since I called and made an offer 1st, the seller felt obligated to give me the 1st right of refusal. The dealer bought it for 104k. So keep looking and use NADA guide as a very good reference. http://www.nadaguides.com/Values/ValueCategoryYear.asp?UserID=530726C4BB1F1&DID=37844&wSec=1&wPg=1204&CategoryId=4&MakeId=1268&ColorId= DO NOT LISTEN TO THE DEALERS! Find the car, negotiate the price, get a PPI at a certified FNA dealer, adjust the final price as needed and drive happily ever after without paying the dealer vig. How many honest used car salesman have you seen? I would rather trust my own judgment of a person than say "well, if he is a Ferrari dealer than he is better than a chevy dealer" They are all used car salesman
Ok Guys, For the dealers that replied, that's all fine and dandy. I do not have a trade in and I am paying cash for the car. I know what it costs to work on F Cars and do not need a dealer to put in $10k or $15k into the car nor do I believe a dealer is putting that kind of money into one of these cars to get it ready for sale. If that is the case I would rather get a car at a lower price and put my own 10 or 15k into the car and I'm sure I would get more for my money. There are F cars in the paper here all the time and they sit there for months. There are 355's at the Ferrari dealer next door to my office and they sit there for months. There Ferrari dealer next to my office lists a car for sale that they know nothing about at the same price as a car that they sold and did all of the service on. But in the same breath they tell me they charge more because the cars they sell are better cars and they would never sell junk. And also in the same breath they won't tell me anything about the car unless I give them $600.00 for a PPI. I didn't get the the point in life where I can buy an F car with cash by being a dum dum. I've really kind of gotten to the point where I'll buy a car with no records as long as it passes a good inspection and take it to a shop and have it all redone for $20 or $30k. That way I'm getting exactly what I want and don't have to listen to the bull**** that comes out these guys mouths. Why do Ferrari dealers make you feel like you're gonna get cancer if you buy a Ferrari?
In response to this. Fortunately, here in America we live in a capitalist society where the free market takes care of itself. If it were really so expensive for Ferrari dealers to be in business and deal with lookers and clean up test driven cars etc. etc. then they would go out of business. I would not look for 8 months for any other car in the world except for a Ferrari. I know a lot of people on this board have looked for a long time before they bought one. If it's such a pain in the ass being a Ferrari saleman then do something else.
Jason1st..... It all comes down to knowing what you are looking at and being able to assess the marketplace accordingly, relative to the kind of car you are looking at. If you believe that dealer's inventories are overpriced in your opinion......don't bother looking there........I'm sure they won't mind. But remember...... Rule # 1.....No two used cars are alike. Rule # 2.....No two private individuals selling their car, or dealers, are alike. And finally............... Rule # 3....."Trust, but verify" (a Reagan quote) in other words.....do your homework far in advance so you recognize the "good deal" when it's staring you in the face and get that PPI done. Just don't get stuck in what I call the "paralysis by analysis" mode that some clientele seem to fall into, or you'll miss the good cars and end up buying a bad one out of frustration. I've seen "that" happen many a time unfortunately.......and it's all thru private sales. Good luck regardless.
I was in the same boat as you in the past few months, here are few points: 1) Lots of cars that are asked 110k+ are Spyders, I am surprised it commands that much premium over a GTB. 2) Lots of cars that you have seen on eBay or Ads, for a seem-2b-great price, are not in great shape. It might look good in pictures or sound good in description, when you really make the trip to see the car, it is worse than you imagine. I have seen several '99 GTB that were asked in 80's, they are in much worse condition than the '95 I eventually bought. Also the major is often not done on those cars. 3) Dealers tend to put a high sticker on the car, and unlike the lesser brand dealers, they are not desperated to sell to you. They will not say things like "well the price you see is just asking price, if you are really interested I can cut 15%". You have to approach them when you are ready to commit, then they will really deal on price with you. 4) From what I experienced, a nice clean low mile F355 GTB with service done will command $80k+. For under 80k, you are looking at either high mileage(~30k), or service not complete, or other glitches/issues need to repair/fix/address. A clean late model like '99 F1 can run you close to 6 figures. 5) My personal suggestion. A Ferrari is really a toy, you don't have to make sense out of it If you are determined to buy, go for it after checking out the car and price to be reasonable. Of course you do your best negociation, but it does not have to be a bargain of the century to close the deal. Those cars are not common like a used Porchase or BMW, good ones do not come by often. If your heart desires and your wallets affords, do it and be happy, a few K's $ difference is not significant compared to your ownership experience years to come. Lastly, just to get your motivated, here is what I just got recently Image Unavailable, Please Login
firstly i am not a ferrari salesman i have had 7 ferraris over the years and bought everyone in a private sale not from a dealer and never drove one of them till i had paid for it sold them myself but i will take the purchaser for a drive when you sell a ferrari you get lots of people wanting to buy it so they can have a drive and go away and say i drove a ferrari today i find it amazing that in 8 months you have not found a car yet do you really want one the longest i have had to look is 3 months with the car i have now as there was only 41 made for our country and they are rarely for sale next car will be a f50 when i have the money but it wont take 8 months to buy one just 8 years to save the money as for a 355 they are the most popular ferrari on the market just buy one its know good lying in the coffin saying i wish i had of done that just do it dont talk about it
Hello Jason1st If you are willing to buy a car and invest another $10-$15k in it, why are you looking at dealers? I don't disagree with your thoughts it just sounds to me like you may be more comfortable buying from a private seller at a discount. I do want to say, being a dealer in this day and age is VERY tough, especially a Ferrari dealer. Think about it, they sell a product that can be very unpredictable. The car can check out on a PPI and have no problems and 3 days later it can develop a massive oil leak that NO ONE can predict. Yet a buyer will expect them to fix it. This is built into their price. Chuck
Don't discount EBay. A year ago I found a 355 spider on EBay(he is also on FerrariChat) and contacted the seller. I did not bid on Ebay, but neogotiated a very fair price, had the car checked out by a F dealer and bought it. The car is perfect and I have had no problems. Good cars are out there at fair prices. It just take a little effort.
Apparently Ferrari dealer pricing is what annoys Jay Leno so much that he won't even bother buying them. He feels they are trying to rip him off just because he can afford to pay a lot. (vague pricing strategies)
i have noticed in his profile he is in sales dont know what he sells would he take somebody with his record serious i bet the salesmen in the ferrari garage next to his work say oh no not him again
For the record I did not say I have been looking for 8 months. I said I have done 8 months of research and been ready to buy with cash in hand for 2. I don't really care if people have taken me seriously until now. They'll take me seriously when I pull out my checkbook. I'm not walking into dealerships to make friends. Thanks for all your help guys. I'm in the low $80,000.00 range for a car. So I feel like I'm looking in the right places for the right cars. Beautiful rear pic of your car. I love the berlinetta in that color. Great wheels too. Very motivational. I live in Atlanta. Sales is what I put for occupation as it seems that's what a lot of people on this board do. Steve, do the period and comma keys not work on your computer???? Jason
. Steve, do the period and comma keys not work on your computer???? Jason[/QUOTE] i might not be able to do comma's and full stops but i have bought a few ferraris its easy you just find a car pay for it then drive it a lot better than typing
i might not be able to do comma's and full stops but i have bought a few ferraris its easy you just find a car pay for it then drive it a lot better than typing[/QUOTE] Steve, what's your problem??? Am I offending you so much that I have not bought a Ferrari yet? Tell you what, when I buy one, you will be the first to know. I'll send you a personal e-mail with a picture and a thank you for your help card Jason
Steve, what's your problem??? Am I offending you so much that I have not bought a Ferrari yet? Tell you what, when I buy one, you will be the first to know. I'll send you a personal e-mail with a picture and a thank you for your help card Jason[/QUOTE] no you are not offending me in my experiance the more you look at the harder it becomes then it gets to the stage i wish i had of bought that one as you are looking for the the best one ever at the best price ever then you find one you want then its i bet i can find a better buy than that and it does your head in if you want my advice dont go to a dealer as you will never get a cheap car from them buy one private but have it checked out there is not many buyers out there with cash so you have more chance of a good deal with a private sale ps[excuse my typingi hope you read this in one breath]
I did exactly the same thing. I had searched for a 1998 yellow/black higher mileage spider for awhile. Found one on ebay and jumped on it (with PPI of course). I have not had any problems either.
