Financing!! | FerrariChat

Financing!!

Discussion in 'New Member Introductions' started by speedyellow08, Apr 5, 2016.

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  1. speedyellow08

    speedyellow08 Formula Junior

    Joined:
    Nov 7, 2012
    Messages:
    361
    Location:
    Houston,TX
    Hello All!
    Looking for some input from business savvies!! I am planning to borrow money from a bank for a used Ferrari. The bank offered me a good APR with 84 month loan. During my conversation with the dealership where the car is located, I was told by them that the Ferrari fiancial will meet the APR with 72 month duration loan. In addition if I go with the Ferrari Finance, my debt will not be reported as well as I will have a good relationship with them for future "new cars". How do you all this pitch? Should I pick one over the other? If so please give your opinion on this. Thanks in advance.
     
    speedyellow08, Apr 5, 2016
    #1
  2. dm_n_stuff

    dm_n_stuff Four Time F1 World Champ Lifetime Rossa Owner

    Joined:
    Dec 10, 2003
    Messages:
    43,712
    Location:
    26.806311,-81.755805
    Full Name:
    Dave M.
    Take the dealer financing. Gives you leverage if something goes wrong with the car.

    "Hey Ferrari!! My car is broken, the dealer won't fix it, you take it back because that payment you got last month? you're not getting any more!"

    Can't do that with bank financing, now can you?

    D
     
    dm_n_stuff, Apr 5, 2016
    #2

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