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Ferrari Financial

Discussion in 'Ferrari Discussion (not model specific)' started by Marcello Mirabelli, Nov 14, 2018.

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  1. Marcello Mirabelli

    Marcello Mirabelli Rookie

    Oct 31, 2018
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    Marcello Mirabelli
    #1 Marcello Mirabelli, Nov 14, 2018
    Doing my preliminary research for either a 458 or 488. Does anyone know what terms/rates Ferrari Financial offers? How do they compare with other lenders such as Lightstream (which I've seen mentioned a few times).

    Marcello
     
  2. tifoso2728

    tifoso2728 F1 Veteran
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    #2 tifoso2728, Nov 14, 2018
    Your local Ferrari dealer will be happy to help you with this question. What's so hard about that?
     
  3. paulchua

    paulchua Cat Herder
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    #3 paulchua, Nov 14, 2018
    I believe they are about 1% higher than the best rates I've seen due to looser underwriting then others. I don't know about Lightstream. I would expect in current market conditions to be about 5.5% for 100K +

    Interest rates are definitely going up, I think the good old days of 0% or 0.9% rates are over.

    Hope this helps you my friend.
     
  4. Jeff3545

    Jeff3545 Karting

    Sep 4, 2018
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    #4 Jeff3545, Nov 15, 2018
    Ferrari Financial is at least 1% over the banks. BofA did my loan about 6 weeks ago at 3.08% for a preowned car (2.49% would be my new car rate) and Ferrari was 4.45%. They also did a hard inquiry despite assuring me they would not for the preliminary paperwork. That irritated me.
     
  5. Marcello Mirabelli

    Marcello Mirabelli Rookie

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    #5 Marcello Mirabelli, Nov 18, 2018
    Thanks, that's what I'm seeing too...
     
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  6. Marcello Mirabelli

    Marcello Mirabelli Rookie

    Oct 31, 2018
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    #6 Marcello Mirabelli, Nov 18, 2018
    I'm finding that my credit union is still the most competitive with rates below 2.75%. They do have a 150K cap however so it comes down to how much you need to borrow.

    Marcello
     
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  7. paulchua

    paulchua Cat Herder
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    #7 paulchua, Nov 18, 2018
    The 5.5 quote I used was 72 months (used car), the lowest I've seen is ~2.5 so ff would be around 3.5 w/ FF at 36 months. (Using Penfed)

    Cheers
     

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