Advice on negotiating price | FerrariChat

Advice on negotiating price

Discussion in '348/355' started by Dragster, Jul 23, 2007.

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  1. Dragster

    Dragster Formula Junior

    Jun 8, 2007
    501
    Charlotte, NC
    I'm looking to get a 355 in the near future and, as it will be my first Ferrari, I am new to negotiating price on a car like this. I know that there will be MANY variables (mileage, history, service, etc), but is there a certain amount or percent that is "acceptable" to negotiate down? For example, if a dealer is asking $85,000 for a car with average miles and recent service, what is an acceptable purchase price? Also, would you expect to be able to haggle more or less on price with a Ferrari dealer vs a non-Ferrari dealer or private owner? Thanks in advance for any help!
     
  2. 285ferrari

    285ferrari Two Time F1 World Champ
    Sponsor

    Sep 11, 2004
    20,973
    MD and NE
    Full Name:
    Robbie
    too MANY variables to answer that question...Everything is negitioable, whether private party or dealer---Most dealers are less willing to work deals versus private parties.. I would lowball the crap out of anyone one at first then meet in the middle somewhwere. I could care a less whether someones feelings get hurt or insulted by asking to pay alot less than asking rice---It is alot of money and I want to get the best value for the best price--period..Feelings don't make your car payments for you...
     
  3. tchaic

    tchaic Formula Junior

    Jul 11, 2004
    601
    Florida
    Full Name:
    Chris M.....
    As usual 285 gives solid advice... I would add that as a dealer I never leave more room to negotiate on a car than 10%. Given the price competitive nature of the internet there is little point in overpricing a car because you won't even get a phone call. A 355 is a pretty common car and asking prices do vary widely thus negotiations could be in play with some sellers. I would try to get a decent car with recent service from an authorized dealer (or really well respected private mechanic) at the average prices. I think average prices are around $75-$85K depending on year and mileage. As a 355 owner I wish the cars at $100K were still changing hands but I don't think that is the case. Hope this helps at least a little and good luck with your purchase. PPI is key!!!
     
  4. gothspeed

    gothspeed F1 World Champ

    May 26, 2006
    10,244
    U.S.A.
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    goth
    I agree with 285.... You should always try to buy as cheap as possible, unless the car you are buying is a high mile 1997 nero nero F355 spider or a 1998 yellow 355F1 berlinetta, then you should pay top dollar and be grateful you have the oportunity to even see the car..... :D :D ;).
     
  5. nsxnick

    nsxnick Formula 3

    Jul 24, 2001
    1,481
    Detroit
    Full Name:
    Nick
    i thought i low balled but the seller accepted right away! i wanted to kick myself for not going lower.

    come up with a low ball figure then substract another few thou.
     
  6. wingfeather

    wingfeather F1 Rookie

    Feb 1, 2007
    3,653
    rock bottom
    I looked at quite a few Spiders, none of the sellers budged. One offered to go down $1,000 but his car was overpriced by $5k to begin with.

    In the end, I paid full asking price because I found a car in excellent condition that seemed priced fairly.
     
  7. Davidt

    Davidt Formula Junior

    Nov 18, 2003
    713
    Ontario, Canada
    Full Name:
    Dave T.
    Pay what represents a good value to you. If you see it as a good value then you will never have regrets. My $.02
     
  8. 285ferrari

    285ferrari Two Time F1 World Champ
    Sponsor

    Sep 11, 2004
    20,973
    MD and NE
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    Robbie
    I agree!!!! I have one just like that --And I'd be willing to accept top dollar for it right now!!!! :D
     
  9. Shark01

    Shark01 F1 Veteran

    Jun 25, 2005
    6,511
    Despite the avatar that lets us all know how few dates he's had EVEN WITH the Ferrari :D


    At least when I'm home alone on Saturday nights its because I'm truly repulsive, and the car is blameless.
     
  10. w1how

    w1how Rookie

    Jan 12, 2006
    22
    Lancashire,UK
    Full Name:
    Marsellus Wallace
    In the UK we negotiate for cars like this...

    http://www.youtube.com/watch?v=9-uFA6R_INc
     
  11. dkny

    dkny Formula Junior

    Jun 8, 2005
    575
    Kingston, NY
    Full Name:
    dave
    I was the same way, offered 5% lower than asking, would move on the price at all, I finally gave in a paid asking price, I am such a sucker
     
  12. Dragster

    Dragster Formula Junior

    Jun 8, 2007
    501
    Charlotte, NC
    Thanks for the help everyone! :)

    Sounds like I should just low ball them and see what happens. The worst that could happen is that they laugh at me or don't take me seriously. :)
     
  13. Shark01

    Shark01 F1 Veteran

    Jun 25, 2005
    6,511
    WRONG......take the time to get educated on the market. For example, if you act clueless, and waste my time low-balling my car theres liable to be a can of whoop-ass opened.

    If you do that to a dealer......trust me, if you buy the car later they will find a way to get back at you.
     
  14. kuwait355

    kuwait355 Karting

    Jul 9, 2006
    69
    Kuwait
    HAHA I like the Terry Tibbs clip
     
  15. gothspeed

    gothspeed F1 World Champ

    May 26, 2006
    10,244
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    goth
    I have to agree a bit on this. Have the car inspected and treat the seller the way you would want to be treated if you were selling. Negotiate a fair price after you know what you are buying...... :)
     
  16. enzob

    enzob Rookie

    Jan 31, 2004
    39
    San Diego, Ca
    Full Name:
    Enzo Bertaggia
    Do you first negotiate the price and the get the PPI done or the other way around?
     
  17. Dragster

    Dragster Formula Junior

    Jun 8, 2007
    501
    Charlotte, NC
    Right, I didn't mean that I would low-ball out of the price range of the car, just the lower end of the market for that particular car. The problem though, is that these cars vary greatly from around $70,000 to $110,000 or so. Basically I'm looking for an "average" mile Berlinetta or GTS, red/tan, any year (though I would prefer a 99 if possible to try to avoid the whole valve guide issue), manual car. It seems like most of the ones that I've been looking at have been in the high 80s or 90s (at a dealership). How much would you expect them to come down? Any?
     
  18. Shark01

    Shark01 F1 Veteran

    Jun 25, 2005
    6,511
    I'd negotiate first, just to make sure they're not on crack concerning their asking price, then subtract from that negotiated price any issues from the PPI.....

    After all, if they're not in the proper pricing window to begin with, a PPI is wasted money....
     
  19. gothspeed

    gothspeed F1 World Champ

    May 26, 2006
    10,244
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    goth
    Well said :)!
     

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