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How can I get a Ferrari Loan and how much down?

Discussion in 'Ferrari Discussion (not model specific)' started by Kenneth Ramirez, Apr 23, 2018.

  1. paulchua

    paulchua Cat Herder
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    Jul 1, 2013
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    agreed, I've been trying to give the guy the benefit of the doubt
     
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  2. Smiles

    Smiles Moderator
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    Nov 20, 2003
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    Matt F
    Um...

    The original poster got banned for trolling.

    Everyone else is whistling in the dark,

    Matt
     
  3. sidtx

    sidtx F1 Rookie
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    As long as they aren't "whistling into the wind" on a ship, then no harm done.

    Sid
     
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  4. paulchua

    paulchua Cat Herder
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    Hi Kenneth, I see the ban has been lifted. I know this did not start off on the right foot. Hoping you re-engage and answer some of the questions. You'll find that most people are reasonable as soon as they see you are not a troll.

    to recap, here are the specific questions that will go a long way for us to help.
    1) What country/state do you plan to settle in regards to the house and car?
    2) What are your two degrees from and from what college?
    3) What is the job you plan to get?
    3) What Ferrari(s) did you intend to get?

    The reason for the specific questions asked is the range is quite wide depending on your personal situation. For example you can say, San Francisco Bay Area, I have a Degree in Eskimo Studies and Native American History, don't have a job yet - but are expect to be hired right away for something, and plan to get a 458 Pista.

    Or you can say, you're planning on moving to Florida, you just got your medical degree, and have residency lined up, and you plan to buy a 348.

    Two totally different scenarios yet both meet your original description of your situation. The former being a much harder sell, the latter a very doable proposition.

    Look forward to hearing from you.
     
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  5. vrsurgeon

    vrsurgeon F1 World Champ
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    #230 vrsurgeon, May 22, 2018
    Last edited: May 22, 2018
    Paul, I admire your optimism for the world. :)

    As one data point, I have a degree from a community college in Art and have used all my graduation money, several credit cards, an inheritance and a massive loan from Ferrari financial services to buy a new F12. My plan is as follows:
    The rear seats can recline for a good nights rest, a $12 a month membership to Planet Fitness will allow me to shower daily and workout, and a tent will fit in the back trunk if needed. Food samples in Whole Foods, Costco and Trader Joes will sustain me for the 15 years I need to pay back the loan working at a wine & paint and Starbucks.
     
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  6. paulchua

    paulchua Cat Herder
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    Haha, it's a fun thread regardless if the OP is a troll or not. Interesting to see how far some will go to get a car.
     
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  7. NeuroBeaker

    NeuroBeaker Moderator
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    Oct 1, 2008
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    I vaguely recall a tale about one guy using 8 or 9 credit cards as part of the purchase method for a Lamborghini. Don't know if that was a member here or just a crazy legend.

    All the best,
    Andrew.
     
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  8. Simon^2

    Simon^2 F1 World Champ

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    True. Was a member here. 2006 I think. Might have been a guy named Dan... not sure about that. Ahh,... the good ole days!
     
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  9. paulchua

    paulchua Cat Herder
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    It is true, and is now stuff of legend
     
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  10. Lotaz

    Lotaz Formula 3

    Nov 18, 2016
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    I am one of those underfunded dreamers as well. At first this thread had me going as I would finance a Ferrari with the right terms myself. But once I read a few posts by the OP I knew it was a troll situation.
     
  11. azlin75

    azlin75 Formula Junior

    Jul 16, 2017
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    Shawn Hicks
    Aren’t credicard interest rates like 25%?!? Wow that guy wanted that car bad.
     
  12. Simon^2

    Simon^2 F1 World Champ

    Oct 17, 2005
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    I reviewed the thread to refresh my memory...

    Josh
    23 y/o
    Calling him a moron would be rude to morons.
    Bought a Lambo on 9 credit cards
    couldn't afford to title or insure it
    He was a subprime mortgage broker in 2008

    What could go wrong???

    (But it's worse than you can imagine,... car was involved in prior owner fraudulent sale to a 3rd party dealer,... which resulted in the car be repo'd)
     
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  13. BMW.SauberF1Team

    BMW.SauberF1Team F1 World Champ

    Dec 4, 2004
    12,444
    Was he trying to buy through Roy? I vaguely recall that story too. I think it was a Diablo 6.0 or late 90s version. Edit: nvm I missed the thread to the Gallardo being towed posted above.
     
  14. Simon^2

    Simon^2 F1 World Champ

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    Yup Gallardo (spider IIRC). Car was at a LasVegas Dealer,... Roy involved in brokering the deal (No fault... just caught up in the mess).
     
  15. Simon^2

    Simon^2 F1 World Champ

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  16. azlin75

    azlin75 Formula Junior

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    Well at least that guy was asking for money and would have ( assuming there were enough people willing to pony up the money ) paid for the car outright ( I’m not even going to touch maintainance ). I remember reading about the lambo thread, guess karma ( if you believe in that sort of stuff ) kinda got him. I felt bad for Roy but seeing how Roy stepped up I’d not question a purchase from him if he had what I wanted when the time came just simply because he would look out for me.
     
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  17. paulchua

    paulchua Cat Herder
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  18. natman316

    natman316 Formula Junior

    Jul 20, 2015
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    HOLY COW....I just wasted 3 hours reading that thread...better than 99% movies I've seen in the past couple of years
     
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  19. basscapital

    basscapital Karting
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    Jan 10, 2018
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    Alan Bass
    Ferrari Financial gave me 3.99% on a $65,000 loan over 5 years. And they dont report to the credit bureaus. That was back in January of this year...not sure if rates have gone up since that time
     
  20. JoeCollins45as

    Mar 1, 2019
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    Joe Collins
    I fully subscribe to your every word. It really is as you say. It is better to devote time to study. If you do not get to study, then you can help with it. Pay attention to the work and start earning money to buy a Ferrari.
     
  21. paulchua

    paulchua Cat Herder
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    I think viprit77 would agree with you.
     
  22. Carnut

    Carnut F1 Rookie
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    Morrie
    Wow this is still going on, I think I've bought about 10 cars since this thread started!
     
  23. Ingenere

    Ingenere F1 Veteran
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    Dec 11, 2001
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    The title of this thread is designed to rile folks up.

    It made me think of how I got my first Ferrari.

    Back when I was a pro tennis player, I bought a wrecked Mondial 8. Spent about 9 months putting it back together, working on it when I was not out on tour. I eventually finished it, drop it around for a year or so and sold it for a profit that helped finance my education, when I decided to go back to school.

    8 years later, I graduated, started a practice and was busting it out and saving. I kept my overhead low and all of a sudden I said to myself...... "I think I could get a Ferrari"! That was 30 years ago, and lots of cars have come and gone, but I think the formula remains the same:

    Get an education
    Find something you love to do
    Be the best you can be
    Save
     
  24. iloveferrari

    iloveferrari Formula 3

    Dec 14, 2014
    1,234
    Easily one of the wisest posts of all time!

    But you just missed the pleural for girlfriend. It's girlfriends!!!! Lol
     
  25. iloveferrari

    iloveferrari Formula 3

    Dec 14, 2014
    1,234
    Where is the link?
     

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