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first ferrari purchase

Discussion in 'Ferrari Discussion (not model specific)' started by afwrench, Nov 24, 2004.

  1. afwrench

    afwrench Formula Junior

    Nov 24, 2004
    556
    NY
    Full Name:
    Mike
    I would like to know if price bargaining is the same in Ferrari world as in the rest of used car land . If asking price is $55,000 what is a good starting point or offer. I do not want to be insulting or foolish . Having purchased many cars in the past it seems 15 to 20% under asking has been past starting point. Is ferrariland any different. Thaks for any input.
     
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  3. tuttebenne

    tuttebenne F1 Rookie

    Mar 26, 2003
    3,005
    Bay Shore, NY
    Full Name:
    Andy
    If "Ferrariland" is any different it is in the importance of condition and service history. A Ferrari and many other high end exotics can be very expensive to "put right." These cars have a service regimen that should be performed either by a knowledgeable independent service person or organization or by a Ferrari dealer. A vehicle that has not had its service performed reasonably on schedule will, at a minimum, cost money to be brought up to the service specification. In the worst case scenario, there could be damage done by the lack of service and this will be an expense on top of the cost of the delayed service.

    So this is an important bargaining/watch point for a buyer. The best solution is to have a Pre-Purchase Inspection performed by a specialist. $500 spent avoiding a $20,000 mistake is money well spent dontchathink?

    So back to your original question, yes negotiating is just as much a part of the game when buying a Ferrari as it is with other cars, but knowing how much to offer will be the result of knowing the true value of the car you are considering. There are lots of great people on this forum who will can and will help you if you decide to get serious about a car.

    Best wishes
     
  4. venusone

    venusone F1 Rookie

    Mar 20, 2004
    2,809
    Can you say, "hell yeah"! Call Martin at Cavalino Motors (305) 867-7740 or go to www.4ferrari.com. He gave me a great sale price on a 348 once & was VERY helpful concerning "things you should know" about a Ferrari purchase.
    Basically, I knew exactly what I wanted in the end w/ no substitutions. Found it at Ferrari of LI & paid asking price.
     
  5. BigTex

    BigTex Seven Time F1 World Champ
    Rossa Subscribed Owner

    Dec 6, 2002
    74,297
    Houston, Texas
    Full Name:
    Bubba
    My experience has been the Owner knows what he wants to get for the car.

    I have had no success in 'haggling' with this type of Owner. My buying experience has been MUCH better comparing car to car, deal $$$ to deal $$$.

    In other words, know what YOU want to pay for WHICH Ferrari and go from there. On the later more plentiful models you can sometimes find a panic seller, but on the older cars the situation is more like..."if I can't get my 'ask', it goes back in the garage".

    These deals will be stress inducing, to the average 'low baller' tire kicker, IMO.
     
  6. BigTex

    BigTex Seven Time F1 World Champ
    Rossa Subscribed Owner

    Dec 6, 2002
    74,297
    Houston, Texas
    Full Name:
    Bubba
    I'm talking about private owners with those comments.

    The average exotic car lot is usually priced at or a littel above the market, and I guess if you want to haggle with those guys....feel free!

    LOL! It's their career!

    Calling Martin (Ferraris4Less) is a good idea...his firm is an exception to the rule..top notch guy.

    Chuck Ligon, a member here, also strikes me as a straight shooter. You don't last long in this market if you constantly take advantage of people.....word gets around!
     
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  8. venusone

    venusone F1 Rookie

    Mar 20, 2004
    2,809
    #6 venusone, Nov 24, 2004
    Last edited by a moderator: Sep 7, 2017
    I did pay the asking sum to Ferrari of LI, but received a "black beauty" that amazed every one at Andy Greene Sports & Vintage Racecars as to how perfect the car is. Trust me, those guys are hard to impress.
    Image Unavailable, Please Login
     
  9. 2000YELLOW360

    2000YELLOW360 F1 World Champ

    Jun 5, 2001
    19,800
    Full Name:
    Art
    At that price, its probably a 348, or an older 355. Both those vehicles have issues. I'd talk to someone knowledgeable, like Martin. If it is a V8, I'd get the book, The Original Ferrari V8, and read about the model that you want carefully.

    Art
     
  10. 355flyer

    355flyer Formula Junior

    Nov 1, 2004
    338
    Gadsden, Alabama
    Full Name:
    Andy Entrekin
    Typically in this arena of vehicles the owners are more astute on pricing. I believe nobody enjoys to "haggle". I believe it all comes down to service records, owner's care and the appeal of the vehicle. As we all know there are not "tons" of Ferrari's on every corner. It seems that a nice serviced Ferrari goes for asking to 1-6% less it my experience.
     
  11. afwrench

    afwrench Formula Junior

    Nov 24, 2004
    556
    NY
    Full Name:
    Mike
    Thank you for your advice will continue research and comparisons all say PPI is a must will not go on without one will advise you about any purchase and how it went thanks again
     
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  13. SrfCity

    SrfCity F1 Veteran

    Nov 1, 2003
    9,842
    Orange County, CA
    Some more points. The length of time a guy has been trying to sell is important, the longer it is, he's getting tired of things. Also, if the car looks clean and you are comfortable with history, tell the guy that for X price we can go to the bank right now and complete the transaction. You may catch the guy at a weak moment. It's important to know what the wholesale price is, i.e. what the dealer would give you for it. Call them and they should give you an idea. Once you've looked at a few cars you'll get an idea of what a clean one looks like that's been maintained well. Does the guy look like a neatnick? Or, are there issues right off the bat and the guy makes excuses. Finally, if the guy is ****** don't be afraid to walk away. Good luck.
     
  14. tuttebenne

    tuttebenne F1 Rookie

    Mar 26, 2003
    3,005
    Bay Shore, NY
    Full Name:
    Andy
    If the situation is static, I would tend to agree, but exotics are subject to more "distressed sale" conditions than other vehicles. Ferraris are put on the market due to divorces, marriages, transfers, kids, etc, etc. Many sellers start out confident and firm, but don't sell their cars. Its a waiting game. If you want to pay full price, there are plenty of people to take your money. If you want to play the field you can save as much as 20% easily. I looked for a 308 for a year before buying. The seller had just had a deal fall through when I contacted him and he was not looking forward to dealing with any more tire kickers, test pilots, or others who would waste his time. We made a deal that was 20% below his asking price, which was considered "market" at the time. As I said, if money is no object, there are people who will sell you their car. If the need to be frugal is there, all is not lost.
     

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