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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. Unknown523

    Unknown523 Karting

    Jan 7, 2018
    66
    Yeah, that could make sense. But a 60 month lease is probably too long. You don't know what'll happen in the 3 years let alone 5. You're limited in KM the whole way so that could either be a big waste or a big cheque. I wonder if people in Canada actually do the registration in a state.
     
  2. RedNeck

    RedNeck F1 Rookie
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    :eek: For the love of everything.... Thank God I live in America. My ad valorem tax rate here in GA was effectively 4% on my 360. Once. My yearly registration is $20.
     
  3. paulchua

    paulchua Cat Herder
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    Fun nontheless, great comments and perspectives from fellow members.
     
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  4. Unknown523

    Unknown523 Karting

    Jan 7, 2018
    66
    That's awesome. You can also get a decent house for like 200K from what I saw. Good luck getting something in Toronto less than 1.2 - 1.5M. Also less opportunity. But at least you can get an ultrasound or xray for free.
     
  5. daytona355

    daytona355 F1 World Champ
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    Cracking deal, I want one!

    Financing these cars is fine for some. I change cars way too often. Yes, I’ve wished years later I hadn’t sold certain ones (MC12, Pagani Zonda C12, Bugatti EB110SS, etc) but life goes on. I’ve rarely considered the long term investment, I’ve had a ton of fun, driven tens of supercars that most people don’t get to drive even one, let alone multiple cars. I’ll never be rich though, but while I’m driving a car using a banks money, and then dumping it to get another, my own money is secure in houses. As long as you can afford the repayments every month, why not keep having some fun.
     
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  6. RedNeck

    RedNeck F1 Rookie
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    Absolutely, I was born in Georgia but habe lived in 10 other places. I love it here, and I doubt I would be able to live the lifestyle I live almost anywhere else. When I had to pay taxes on my 360, the state only valued it around $30k...but I was double taxed on my other cars since I brought them with me from another state, so I guess it all evened out.
     
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  7. tifoso2728

    tifoso2728 F1 Veteran
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    It's like a personal property tax in Georgia, right?
     
  8. Jana

    Jana F1 Veteran
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    Mar 4, 2015
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    1k a month won't get you a exotic in this decade. Not without a huge down payment.
     
  9. Natkingcolebasket69

    Rossa Subscribed

    Again u are mistaken i got a tr for that price from Ferrari of orlando with 24j miles


    Sent from my iPhone using Tapatalk
     
  10. RedNeck

    RedNeck F1 Rookie
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    Yeah, bought the cars in Ohio and paid sales tax, then moved them down to Georgia and paid property tax on them. Still worth it.
     
  11. Kenneth Ramirez

    Apr 23, 2018
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    Are you 100 percent sure? I would hate to save that up to not get it.
     
  12. Kenneth Ramirez

    Apr 23, 2018
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    What is your down payment on your Ferrari?
     
  13. TheMayor

    TheMayor Seven Time F1 World Champ
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    How deep is the ocean? How high is the sky?
     
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  14. tifoso2728

    tifoso2728 F1 Veteran
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    Is that a Bee Gees song?
     
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  15. TheMayor

    TheMayor Seven Time F1 World Champ
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    I think it was a quote from the Late Stephan Hawking.

    BTW: He knows that answer to those two questions now.
     
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  16. davidnz

    davidnz Rookie

    Apr 13, 2018
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    On a long term note from a lender such as "woodside" at least 20% ...on a 3 or 4 yrs traditional note ....zero....that is if u have a good Fico score and ability to make the monthly payments...
     
  17. Kenneth Ramirez

    Apr 23, 2018
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    Kenneth Ramirez
    What do you think the FICO cut off is?
     
  18. TheMayor

    TheMayor Seven Time F1 World Champ
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    If you are talking new or used through a dealer, go to the dealer and talk to Ferrari Financial. They will give you all the information you want. Otherwise, your question is too vague to answer.
     
  19. daytona355

    daytona355 F1 World Champ
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    Ferrari financial might let you get away with 10%, most others expect 15-20%, new or old cars doesn’t seem to matter. Of course, I’m in the UK, so it may differ in the US and other places
     
  20. tifoso2728

    tifoso2728 F1 Veteran
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    A 720 score usually gets about anyone bought. But, that's for the average car. Down payment, job history and provable income all come into play.
     
  21. Natkingcolebasket69

    Rossa Subscribed

    I think kenneth is a troll... its his second post like this ;)


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  22. AceMaster

    AceMaster Three Time F1 World Champ

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    What's a down payment?
     
  23. RedNeck

    RedNeck F1 Rookie
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    15-20%. Should be about standard on any car, any less is irresponsible.
     
  24. RedNeck

    RedNeck F1 Rookie
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    If you "save it up", the money is still yours. I always try to help out an ambitious future owner, as I was one 2 short years ago, but maybe I was wrong. You may not be ready for ownership. If you are struggling with a down payment, then you will have a very rude awakening when it comes to servicing your car, especially if you are not doing it yourself.
     
  25. RedNeck

    RedNeck F1 Rookie
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    I don't know if he's a troll, but judging by his posts, he is heading for a world of heartache and disappointment. I supported this guy's ambitions 100% and tried my best to help in the other thread but he doesn't seem anywhere near prepared for what he is trying to get into.
     
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