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430s first ferrari/collector car financing

Discussion in '360/430' started by ferraridreamer32, Nov 19, 2020.

  1. ferraridreamer32

    May 3, 2014
    32
    Been going back and forth between a 430 and a 355. I prefer the looks of the 355. But the 430 seems to have so much more for not too much more money. no engine outs, better f1 system, 100+hp etc.
    Anybody buy a 430 as their first. Have you been happy?

    Anybody use financing on the car, and if so, did you use collector car financing or just your local credit union.
    I have the cash, but have considered financing apart of the purchase.

    Thanks for any advise.
     
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  3. Extreme1

    Extreme1 Formula Junior

    Jun 27, 2017
    492
    Santa Clarita, CA
    I bought a 2009 F430 in February, it’s my first Ferrari. I too looked at the engine out maintenance/timing belts, on the earlier cars. My buddy has a 2001 360. That’s why I chose the F430, along with not quite enough $$$$$ for a good 458.

    It’s been very reliable and a blast to drive. I’ve learned to do all the maintenance on it myself by spending hours and hours on this forum and You Tube.

    I financed mine the day I bought it at CNC in Upland for some ungodly high interest rate, knowing that I would re-fi it the next day. I’m now at 3.75% at my local credit union.


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  4. cole328

    cole328 Formula Junior

    May 9, 2014
    796
    I am 54 years old, live in South Florida. I’ve had numerous Porsches several AMGs as daily driver ‘s, and bought my first Ferrari last year. 2007 f430 spider. 19,000 miles when bought , well sorted out, and a perfect PPI. It has been bulletproof, and I put 3500 miles on already . I love the hell out of it

    It was $107,000 or so, and I paid cash so I can’t comment on the financing part.

    Get one !


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  5. Sj_engr

    Sj_engr Formula Junior

    Sep 15, 2020
    294
    Full Name:
    cd
    I took a local credit union quote to wells fargo and told them to match it.

    F430 first Ferrari here. Very easy to work on and really happy I did not get a 348/355 since engine out every 3-5 years just seems like so much work for less performance. I was also very seriously considering a 355, even bought Tubi exhaust for it that I don't need now. Oops
     
  6. SpencerMarks

    SpencerMarks Karting

    Jan 15, 2017
    121
    Woodstock, Georgia
    Full Name:
    Spencer
    Like others have said above it’s a great car.

    I was looking at a 360, but to find a nice example I would have had to spend roughly 75-85k. Additionally, maintenance would have been more. Older car, belt services, older F1 transmission technology, and less performance. I ended up financing for my F430. 2.3% rate with my credit Union. Car is also easy to work on like people have said, plenty of aftermarket replacement parts that will bring maintenance cost down dramatically. This site is a gold mine for information. Car has been cheaper to maintain than my ‘11 F250 King Ranch

    Great Car!
     
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  8. ScudMarks

    ScudMarks Formula Junior
    Rossa Subscribed Classified Subscribed

    Jan 22, 2018
    302
    Bay Area, CA
    Full Name:
    Matthew Mauer
    Collector car lending and Woodside credit are both great options as they will do longer term loans (10 year) if you want low payments and don’t want to tie up cash. Credit Unions will for sure finance with better rates, but some are a pain on older exotics.

    The 430 as a car can be the best “first Ferrari” due to the thought of having no engine out, along with the impressive performance, but don’t kid yourself, they can still be pricey on an annual basis. More tech to fail in them. Clutches don’t last long, and regardless of the gen 1/gen 2 header debate, they can still fail, suck cats, need motor/trans mounts, etc. The 355 might not be as fast or hi-tech, but it has a charm that no other modern Ferrari can duplicate. Get one that has a recent major and bugs out, and you can enjoy for years.
     
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  9. Natkingcolebasket69

    Natkingcolebasket69 F1 Veteran
    Rossa Subscribed

    355>430
    Way more go kart feel... and the sound OMG!


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  10. ScudMarks

    ScudMarks Formula Junior
    Rossa Subscribed Classified Subscribed

    Jan 22, 2018
    302
    Bay Area, CA
    Full Name:
    Matthew Mauer
    what he said
     
  11. Flyingbrick242

    Flyingbrick242 Formula Junior
    Silver Subscribed

    Feb 26, 2017
    322
    So. Cal
    2007 F430 ........Outstanding Machine this car will make you smile moving or standing still.
    I went with a credit union @ 1.9%...No prepenalty payoffs ..
    A cheap Ferrari is the most expensive in the long run...do your homework before your purchase.
    From a technical perspective I think they are very straight forward the drivetrain which includes engine/gearbox is damm near bulletproof..the F1 system can be challenging if negative symptom should arise knowing how it works with diagnostic equipment handy I think is a must.
    Good Luck with your purchase.
     
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  13. Natkingcolebasket69

    Natkingcolebasket69 F1 Veteran
    Rossa Subscribed

    I got my moments lol
    For me I realized how mostly enjoy: sound, go kart feel,analog feel, low to the ground . IMO there is such a thing as too much power and with 400hp the 355 has just enough!
    430 is also awesome!

    Sent from my iPhone using Tapatalk
     
  14. Dewinator

    Dewinator F1 Rookie
    Silver Subscribed

    Jun 22, 2017
    3,014
    WA
    If you drive it a decent amount, the F1 robot eating your clutch will probably cost you as much as you save not doing engine out, so I'd just get the F355 you prefer and enjoy the gated stick.

    Also I recommend against financing. I did initially but even at 2.X% the payments suck so I bit the bullet, paid it off, and much happier now.
     
  15. NMNMNMN

    NMNMNMN Formula Junior
    Rossa Subscribed

    Which credit union at 1.9? Damn!


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  16. Sj_engr

    Sj_engr Formula Junior

    Sep 15, 2020
    294
    Full Name:
    cd
    Come on. The opportunity cost. I will borrow all the money you can give me at ~2% and put the rest into the stock market.
     
  17. NMNMNMN

    NMNMNMN Formula Junior
    Rossa Subscribed

    430.

    Get what you love and drive the damn thing.



    Sent from my iPhone using FerrariChat.com mobile app
     
  18. Sj_engr

    Sj_engr Formula Junior

    Sep 15, 2020
    294
    Full Name:
    cd
    Just pointing out that home improvement based stocks are doing really well and the bank interest is still near 0%.
     
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  19. NMNMNMN

    NMNMNMN Formula Junior
    Rossa Subscribed

    Where are you guys getting this rate on a 430?
    Wow.



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  20. Sj_engr

    Sj_engr Formula Junior

    Sep 15, 2020
    294
    Full Name:
    cd
    Call around to your local credit unions. Put them against each other and have a rate goal in mind.
     
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  21. CoreyNJ

    CoreyNJ Formula Junior
    Silver Subscribed

    Apr 17, 2006
    624
    New Jersey Shore
    #18 CoreyNJ, Nov 20, 2020
    Last edited: Nov 20, 2020
    My 2009 F430, I got back in February, was my first Ferrari. I was coming from owning Porsche's since I was 17 years old, the 430 is night and day from those cars. I mulled over paying just a little more for a 2010 458, but in the end decided I'd rather have the last year of a model than the 1st or 2nd year of a model to avoid any issues.

    As for financing, I can't help there. I sold a barely worn Patek to finance much of the purchase. I think it was a fair trade as I never could appreciate the Patek without a loupe, but the Ferrari I see every time I go into my garage.
     
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  22. ferraridreamer32

    May 3, 2014
    32
    Thanks. On the 430. What is everyone seeing for clutch life? I’m looking at one at a Porsche dealer. They provided receipts indicating 14 percent worn or 86 percent life left. Also they sent me some pictures of them checking the brakes. Can anyone tell me what this picture shows. If anything ?
    Thanks
    Image Unavailable, Please Login
     
  23. VAF84

    VAF84 Formula 3
    Silver Subscribed

    I think it boils down to whether you have the time and money to maintain the 355. Personally, I don't have a lot of time to mess with issues, or to even drive the car. So I went with F430 as a car I felt I could jump in and drive with less concern for gremlins and service issues. I also wanted to make sure I didn't feel power was lacking now that your average car has become faster. The F430 has not disappointed, it's a joy to drive. Purchased at high $90's out the door, and financed with local FCU at 2.7% (with a good sized D.P.) althought it seems they are now offering 2.1%... I may need to refinance again :p
     
  24. cole328

    cole328 Formula Junior

    May 9, 2014
    796
    On the clutch, I believe that it really all comes down to how you drive. I do my best to avoid reversing, and I’m very careful getting on the clutch from a standing stop. My car has 22,000 miles, and I just had it serviced last week, and I still have 68% left


    Sent from my iPhone using FerrariChat
     
  25. 09Scuderia

    09Scuderia Formula 3

    Nov 20, 2011
    2,225
    Dorado Puerto Rico
    Full Name:
    Tim&Julie
    I have always been a pay cash guy. Now, not so much. If you can borrow at less than 3% vs using cash...borrow. As mentioned above the opportunity cost is real. Mortgages, same deal. When the 'appreciation/ inflation' percent exceeds the cost of the money means you win when you borrow. I saw a 30-year rate offered this am for 2.87%. That is free money. The bottom line, paying cash when the fed has made money so cheap makes little to no sense.
     
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  26. ferraridreamer32

    May 3, 2014
    32
    Thanks. Any comments on the brake picture?
     
  27. Sj_engr

    Sj_engr Formula Junior

    Sep 15, 2020
    294
    Full Name:
    cd
    He is holding up a mm measurement tool to the pads.
     
  28. ferraridreamer32

    May 3, 2014
    32
    Those are the standard brakes and not ceramic correct ?
     

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