Buying used 458 - dealer vs non-dealer | FerrariChat

Buying used 458 - dealer vs non-dealer

Discussion in 'Canada' started by Craig6, Jul 5, 2017.

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  1. Craig6

    Craig6 Rookie

    Apr 9, 2016
    1
    Toronto
    Full Name:
    Craig Hayashi
    Hi -

    Just starting to do some initial investigation into potentially buying a used 458.

    Does anybody have any opinions on buying one from a dealer vs a non-dealer like:

    2012 Ferrari 458 ITALIA - Etobicoke $279,500 | autoTRADER.ca

    2012 Ferrari 458 ITALIA - Milton $269,000 | autoTRADER.ca

    Would a dealer get better quality used ferraris, offer cpo?

    I'd be looking to trade in my current car (Audi R8) as part of the deal. Do you think there be any difference in trade value I would be able to get?
     
  2. Jonsav

    Jonsav Formula Junior

    Sep 26, 2014
    338
    Canada
    Just get PPI done.

    Ferrari dealer would give you a bit less than those guys but I don't imagine it would be too much of a difference.
     
  3. I'm 360 Canuck

    I'm 360 Canuck Formula 3

    Nov 21, 2015
    1,911
    Ontario, The Real One in Canada
    Full Name:
    Lars!
    Trade in value is usually less than private sale. The dealer is still going to need some margin for their profit. No magic there. Sellers accept that as the trade off for the convenience of not having to sell the car themselves.

    I don't think a dealer would get a "better quality" car....fewer stories perhaps, and a less stressful transaction than giving a perfect stranger a quarter of a million dollars ;) I personally think the dealers get in the way of getting good info from the former owner.
    A good car is a good car, regardless of who's selling it. Dealers sales contracts protect them first and foremost, not the buyer.
     
  4. ryalex

    ryalex Two Time F1 World Champ
    Consultant Owner

    Aug 6, 2003
    24,957
    Las Vegas, NV
    Full Name:
    Ryan Alexander
    In some states like NV and AZ there is no sales tax on private Auto sales. So there's a 6-8% incentive to buy privately.

    When you are going to get hit with the same tax either way in Ontario, that is a huge boon to dealers since there's less incentive for a private party transaction, from the buyer's perspective. When the difference is $269k vs 279k, that relative amount is such a small spread that the concern should be buying the better condition car.
     
  5. cls

    cls Formula 3

    Jun 12, 2007
    1,663
    Los Angeles/Montreal
    Full Name:
    Chris
    A dealer can CPO a car and offer a warranty.
     
  6. mpower1226

    mpower1226 Rookie

    May 3, 2012
    1
    Were you able to get the trade in value for your R8? My buddy recently traded in his '12 R8 v10 spyder and dealer gave him 100k plus tax benefit towards car he is getting from them (981 gt4).




     
  7. obbob

    obbob Formula Junior

    Aug 14, 2017
    774
    Dealers can "CPO" the car, which basically means the car comes with 1 year "free" New Power Warranty (not really free since its definitely factored into a price increase on the entire car).

    You can still get the exact same warranty on the non-dealer car, but you will be paying, and probably won't get a good price since you have less negotiating power due to not buying one of their cars.
     
  8. tbakowsky

    tbakowsky F1 World Champ
    Consultant Professional Ferrari Technician

    Sep 18, 2002
    19,349
    The Cold North
    Full Name:
    Tom
    The v10 R8 is a fairly high demand car. I wouldn't trade it. I would sell it privately, then buy the 458.
     
  9. Ferrari Nube

    Ferrari Nube Formula Junior

    Sep 14, 2014
    317
    British Columbia
    Agree that the warranty is factored into the price of the car when buying through a dealership (if not more), but I wasn't aware that you can get a factory Ferrari warranty when buying privately unless the individual you are buying it from purchases the warranty prior to selling you the car (assuming he/she bought it from an authorized dealership) and then transfers it to you?

    Personally, if a warranty is important, I would buy from a dealership unless I know the owner and history of the car very well. It's a relatively large amount of money to spend on a car and there is "some" recourse when buying through a dealership.

    Cheers
    FN
     
  10. obbob

    obbob Formula Junior

    Aug 14, 2017
    774
    Any car that's under 40k miles and 15 years old (or something like that) can get the New Power Warranty at anytime.

    First it has to pass an inspection, which costs $500 or so. Then you pay $4500-$5700 for the first year depending on the engine your car has. If you renew and don't make any claims, you get to renew it for slightly lower for the following years.

    Note that a New Power Warranty only covers things like drivetrain, powertrain and some electrical components. If your car still has factory warranty, then you can extend the bumper to bumper warranty for up to 2 years for $5000 per year and no inspection.
     
  11. JamesSimpson

    JamesSimpson F1 Rookie

    Jun 29, 2005
    3,624
    Toronto,CANADA
    Full Name:
    James Simpson
    I've never understand people's weird thoughts able only buying from a dealer vs anywhere else.
    Like someone else said "a good car is a good car"
    What's even worse is that the majority of people KNOW they're getting screwed yet still deal with them.
    For example, I got a member here offers for his car $65,000 MORE than the authorized dealer was will to give! And yes that's $65,000!!!
    And even though he saw how much they were screwing him he still went to them. Of course he most likely used my emails to him from me to show the dealer to get himself a better deal.
    And if I remember correctly he'd been buying new from this dealer EVERY few ywars
     
  12. JamesSimpson

    JamesSimpson F1 Rookie

    Jun 29, 2005
    3,624
    Toronto,CANADA
    Full Name:
    James Simpson
    I've never understood people's weird obsession with only buying from dealers.
    Like someone said "a good day is a good car"

    About 5-6 years ago I had offers on a car tgat were $65,000 MORE than the Dealers. Yes $65000!! And he still went with the dealer. I'm sure he used my offers as a way to get a much better deal but since he's been buying new every few years I can only begin to guess just how much money he could have saved!

    And now I know some of you are quite wealthy but come on! Rich enough to piss away millions just for some weird internal satisfaction of dealing with a dealer.

    Also like Tom said I'd sell the Audience seperately.
    You'll get significantly more.

    Cheers
    James Simpson
     

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