F making you lease a brand new car for a year? | FerrariChat
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F making you lease a brand new car for a year?

Discussion in '360/430' started by SrfCity, Nov 26, 2007.

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  1. SrfCity

    SrfCity F1 World Champ

    Nov 1, 2003
    10,142
    Orange County, CA
    #1 SrfCity, Nov 26, 2007
    Inquired about a brand new car and this is what the guy said. Your leasing co. or F's for a year, but they won't let you pay cash. That doesn't work for me. Anyone else getting this?
     
  2. jayman

    jayman Rookie

    Nov 22, 2007
    37
    Orange County
    Full Name:
    John
    #2 jayman, Nov 26, 2007
    I have heard that the one-year lease may be used as a way to "enforce" the one-year, no sale rule. Please tell me its not our friends at Newport F.
     
  3. SrfCity

    SrfCity F1 World Champ

    Nov 1, 2003
    10,142
    Orange County, CA
    #3 SrfCity, Nov 26, 2007
    No but a place cut from the same cloth. San Diego.
     
  4. Senna1994

    Senna1994 F1 World Champ

    Nov 11, 2003
    13,183
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    Anthony T
    #4 Senna1994, Nov 26, 2007
    Doesn't surprise me.
     
  5. ringmeister

    ringmeister Formula Junior

    Jan 17, 2005
    538
    NJ
    #5 ringmeister, Nov 26, 2007
    Old news. FNA is making this requirement not the dealers. Dealers are not happy with it either.
     
  6. RBK

    RBK F1 Rookie

    Jul 27, 2006
    3,105
    Calif and Nev
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    Bob
    #6 RBK, Nov 26, 2007
    This is another of those dealer "exceptions".Scattered all over this forum are people buying and picking up cars they have "purcahsed". Hard to know truth from fiction. This can be cleared up in one post

    Anyone "buy: a "new" Ferrari (not leasing)in the last few weeks? Best
     
  7. marksp

    marksp Formula Junior

    Jul 10, 2006
    737
    Redmond, WA
    #7 marksp, Nov 26, 2007
    Just got my new car. Same as the previous. MSRP deal. Used equiity from previous car. Cash for balance (no lease). Note - my car is a MY07 car (Sept. build). I mentioned this to point out that much, if not all, of the speculation that I've heard is directed at MY08 cars, starting with the Scuderia.
     
  8. SrfCity

    SrfCity F1 World Champ

    Nov 1, 2003
    10,142
    Orange County, CA
    #8 SrfCity, Nov 26, 2007
    This is what I wanted to do and they said forget it. FNA thing, so they claimed.
     
  9. hardtop

    hardtop F1 World Champ

    Jan 31, 2002
    11,293
    Colorado
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    Dave
    #9 hardtop, Nov 26, 2007
    It hasn't been a requirement for recent deliveries, at least not in all cases, but don't know about specing out an '08. Could be different. It is generally believed that dealers are under a lot of pressure to sell more "products" like financing, merchandise, options and the like. Prices on new Fcars have not kept pace with the Euro, so they may be looking for ways to collect more profits without technically raising prices much.

    Dave
     
  10. 575Mike

    575Mike Formula 3

    Mar 11, 2004
    1,706
    Midwest
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    Michael
    #10 575Mike, Nov 26, 2007
    Bob, I took delivery of my second 430 Coupe last month. It was purchased, not leased. I ordered my 08 430 Spider, and I am purchasing it as well. However, I am informed by my dealer that I will be required to lease the 430 Scuderia.
     
  11. racerdj

    racerdj F1 Veteran
    Owner

    Jan 19, 2003
    6,952
    Indianapolis
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    DJS
    #11 racerdj, Nov 26, 2007
    Purchased last month.
     
  12. SrfCity

    SrfCity F1 World Champ

    Nov 1, 2003
    10,142
    Orange County, CA
    #12 SrfCity, Nov 26, 2007
    I agree. If you walk in off the street you get the "gotta lease it" shpiel.
     
  13. Derek at FoD

    Derek at FoD Formula 3
    BANNED

    Jun 10, 2004
    1,924
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    #13 Derek at FoD, Nov 26, 2007
    Unfortunately that's not true. Beginning on MY '08 599s and the Scuderia, Ferrari is requiring purchasers to add Ferrari as a lein holder for the first twelve months...this is going over really, really well with both dealers and the lucky future "owners" of said car(s).
     
  14. SrfCity

    SrfCity F1 World Champ

    Nov 1, 2003
    10,142
    Orange County, CA
    #14 SrfCity, Nov 26, 2007
    I'm talking about my experience and right now. BTW, I talked to a couple of guy's last week who said they're getting a Scuderia, they claim they can buy and pay cash. The lease/lien rumor thing was floating around a while ago so I wouldn't doubt it's true.
     
  15. jeff

    jeff Formula 3

    Feb 19, 2001
    1,924
    North America
    #15 jeff, Nov 26, 2007
    Yes, this all starts Jan 1, 2008. The dealers are not happy. I'll probably put down $250K on my Scuderia and lease or finance the rest for one year with FNA just to keep them happy.
     
  16. Derek at FoD

    Derek at FoD Formula 3
    BANNED

    Jun 10, 2004
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    Denver
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    #16 Derek at FoD, Nov 26, 2007
    Maybe the guys you've spoken to haven't been given the great news just yet? This is a fairly recent demand from FNA.
     
  17. $$$=SPEED

    $$$=SPEED F1 Veteran

    Aug 18, 2004
    5,330
    Portland, Or. USA
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    Depends who's asking
    #17 $$$=SPEED, Nov 26, 2007
    What B.S.! This is going to backfire in Ferrari's face I feel. Hmmmmm, I have $300k cash to spend on a car but I am going to let the dealer be listed as a lien holder??? RIGHT!!
     
  18. SrfCity

    SrfCity F1 World Champ

    Nov 1, 2003
    10,142
    Orange County, CA
    #18 SrfCity, Nov 26, 2007
    My guess is this is true.

    There are plenty of guy's who will go for this. Unfortunately they'll be stuck for a year too.
     
  19. martyb

    martyb Formula Junior

    Nov 8, 2003
    304
    South County
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    marty b
    #19 martyb, Nov 26, 2007
    Ferrari should then cover that extra liability insurance they would most likely require. Although I'd be more than happy to lease a Scuderia for a year in order to get one!!!!
     
  20. brokenarrow

    brokenarrow F1 Rookie

    Sep 25, 2006
    3,737
    Txass
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    Bill
    #20 brokenarrow, Nov 26, 2007
    I hate leases. There's just too many obscure factors involved. I want a clean deal; X for Y. Given the rarity of the Scud, they can play any game they like. Requiring a lease for a car seems like it would border on illegal. The laws would vary from state to state, but I'd be surprised if they were mandating it.
     
  21. hardtop

    hardtop F1 World Champ

    Jan 31, 2002
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    #21 hardtop, Nov 26, 2007
    Derek,
    Will this be in some sort of lease form or outright loan?
    Are normal 430's included?
    Is there some kind of restriction in the contract regarding resales or is this meant to stop resales unless they are back to selling dealer?
    Is this a way for FNA to increase profits to offset the weak dollar?

    If you don't want to reveal too much on the internet, I understand. I'll probably be wandering out of the mountains to see you guys pretty soon anyway.

    Dave
     
  22. RBK

    RBK F1 Rookie

    Jul 27, 2006
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    #22 RBK, Nov 26, 2007
    Thank you...It appears three is a change then. Best
     
  23. RBK

    RBK F1 Rookie

    Jul 27, 2006
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    #23 RBK, Nov 26, 2007
    Thank you. Best
     
  24. Kurt RSF

    Kurt RSF Karting

    Dec 27, 2003
    83
    Rancho Santa Fe, CA
    #24 Kurt RSF, Nov 26, 2007
    Picked up my new 430 spider on Halloween, and wrote a check for it. Nothing was mentioned about a lease.
     
  25. SrfCity

    SrfCity F1 World Champ

    Nov 1, 2003
    10,142
    Orange County, CA
    #25 SrfCity, Nov 26, 2007
    I think what's going on is the dealer's get brownie points for anyone they steer into a lease. Those brownie points come in the form of more future allocation. If the dealer's have only a few new cars trickling in(especially at sticker) they'll just wait for the lease guy to come along. If that doesn't work for whatever reason then cash it is.
     
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