For Sale 98' 355 GTS F1 (20,084 miles) For Sale by Owner

The 1998 Ferrari F355 GTS F1 is a collector's dream with a combination of classic design, and high-performance capabilities.

If some one is interested in this car, please consider Woodside Credit for the financing. Payment would be approximately $1,300/month with 20% down payment.

 

If you are going to post in someone’s ad why don’t you post the interest rate, how many years and how much they will pay in interest for your quote?

 

144 months, 8.99%, Fully amortized loan just like mortgage, No prepayment penalty.

 

OMG! I rather stay quiet.


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So 63k in interest and total cost 188,795. So just like a mortgage for a car!!

OP, great car and GLWS!

 

LOOOOOOOOOOOOOOOOOOOOOOOOOOOL + LOL and no thats not regarding the asking price as many would assume, its regarding that quote ...

 

Seems like a beautiful car for a fair price for all of the work done etc.

 

Love Woodside, they financed my Ferrari.

 

It’s not the interest rate it’s the term. You can get a 60 month auto loan for 6.34%. Instead of $1300/month (for 144 months) you are at $1949/month (for 60 months). So instead of paying 63k in interest you would be paying 17k in interest. The point was a car loan should not be a mortgage payment (in regards to term and interest paid). We’ve ventured way off course for this ad.

 

Its a nice car for sure, If I was in the market, I would pay half down, and finance the rest, or just try and negotiate the asking price and just pay cash. In todays Ferrari market, it seems to be a fair asking price, but even better if you can pay cash, and maybe get it for somewhat less. My Q 50 I financed for 5 years at 8.9 % I believe , I got a great deal on the price and I did not have to put a lot down. At this point in my life, I have an entirely different opinion on paddle shifted cars. I do wish Ferrari had a center console mounted knob to shift the transmission along with the paddles, just my opinion. No matter what, financing or not, this machine will sell fast, and it most likely will be a cash deal.

G

 

Now that's the pot calling the kettle, as you did the same with post #9. I originally posted my response as woodside hijacked the thread to advertise their product with incomplete information. The post can be misleading/deceptive. There are various laws at play when you advertise for financing. This includes the FTC, Truth in Lending Act, regulation Z. My post #3 was to make sure they provide the relevant information. Admittedly I did take it too far with my follow up posts.

Now back to the OP car, Great example and great price.

 

stunning car glws

 

My favorite ferrari. I never should have gotten rid of mine.

 

I honestly don’t understand why people hate paying interest to a bank willing to give you a loan for 144 months. If you own a house, put money in a 401k, private invest also, I honestly don’t understand what the issue is? Woodside allows a lot of people to enjoy dream cars that they never thought were accessible. Too many people giving financial advice on here to people that have so many different circumstances, just let them enjoy their lives.

 

Woodside makes owning an exotic car a lot easier. If you think the interest rate is too high then call Powell

 

I have no dog in the fight, but 12 year NON RECOURSE money at 80% LTV on a used vehicle sub 9% is attractive financing in todays market. Commercial real estate borrowers are struggling to achieve sub 9% at 65% LTV without bringing substantial recourse to the table at present. For anyone who queries why someone would “pay this much interest to a bank”, you don’t have a good grasp of how to intelligently use financial leverage. Plenty of opportunities to make 12% to 16% in fixed income opportunities with strong credit support at present and arb the spread. Lastly, I have never known anyone who kept their “collector car” loan outstanding for the whole term. Many use it as a short term instrument and either pay off or refi upon some other liquidity event in their personal lives. Now, if you are looking at financing as a means to be able to afford a monthly payment, well, that’s a completely different discussion.