My 2001 360 Spider, not happy with trade-in

My 2001 360 spider is worth $55,000 on trade at a local dealership.
Red with tan, lower mileage under 18,000, F1.
It's not very appealing to jump into a 430 anymore. Not too pleasant an experience. Pretty nice ones are listed locally for around $100,000.
$75,000 I might understand, but $55,000? The car is nice without paintwork, 2 owners with me being number 2. No accidents

 

no one is getting 100K for a car like that...askin prices dont mean muhc...try and sell it for 80K and move to the 430...u wont regret it...

how much did u pay for the car and when did u buy it?

 

What he said^^^ Sell it your self.

 

The dealer has to take the risk of not being able to sell it any time soon in a market where the prices continue to decline. They also have to pay interest on financing their inventory, pay the rent, and a sales commission, and that's just the basics. That said, everything is negotiable, especially if you buy your F430 from the same dealer.

 

That's a ridiculous number. Don't trade it in. You can get much more if sell it yourself. Even if you get a low ball offer of $65,000 to $75,000 its better than trade in value. Depending on the service history maybe a bit more.

 

Trading-in can be nice. It's fast, easy and can be financially helpful if done in a state that gives you a sales tax deduction for the trade-in value. CA is not one of those states. Plus CA cars are more desireable in many respects. If you have the time and patience, definitely sell it on your own.

 

Geez. Only 55 on a trade. I do understand their position but I would sell myself as suggested. Good luck.

 

i hope you urinated on the floor as you walked out .. Complete bulsh*** went thru that also with an 02 spider 8000 miles .. They all say Im only gonna mark it up 5 grand .. THe biggest guys in La told me that .. Only thing missin from that transaction is a GUN and SKI MASK

 

Same thing happened to me when I tried to dispose of my M6. Dealer offered me 55k below what I eventually sold it myself for...suckers

 

Third party transfer or trade in at dealership will save you tax money and they will inflate the value of your car on this transaction!!! So if it's a 430 you fancy, do the transaction at your Ferrari dealership and everyone is happy!!!!!!

 

Yes, but tax savings won't offset the big difference in $ between trade-n vs. private sale.

I agree that if we're only talking 5K or so difference , it would be easier to just trade in and move on.

 

trade in doesn't lower tax hit in the sunshine state....

Sell it yourself and save!


tim

 

I just picked up a 99 Giallo Modena

8.8k miles/1 owner/very clean/F1


picked it up for $67k at a local exotic dealer


hate to say, but it's a buyers market for these things.

 

So in California, regardless of the value of your trade, you pay tax on the full value of the car you're buying?

If so, how is that value established? There must be a motivation to reduce the asking price and give more on trade. For those in Cali I'm stating the obvious I'm sure ;-)

 

Brand new M6s are going for 80k, what did the dealer offer you? $1?

 

can you post some pics of the car?

cheers!

 

Uh. Perhaps you don't understand how trading in a car works. Let me enlighten you.

If you trade in a car, the dealer purchases it from you and sells it themselves at a profit. Dealers don't pay retail because they need to make money, and they don't make money by forking out huge offers on cars with rapidly declining values. There is nothing unfair about this. The dealer is not forcing him to take their offer - they are simply making him one. Welcome to business.

EDIT: by the way, I also think the dealer's offer is ridiculously low. But it's not "complete bulsh***" - dealers can offer whatever they want, take it or leave it. I second all suggestions to sell it yourself.

 

We should have an auction section on here where you start the bidding at the dealers trade in offer. I'm sure you would get much more than $55k. Try posting it in the for sale section.

 

They simply didn't want the car. So they low balled you, rather then telling you the truth about the current market.

 

Like the man with his Diablo people started offering their $ when he posted a thread like this.

 

im smiling as i read your post . First of all I am well versed in how dealers think. I traded 3 cars this year so far . Dealers position is very simple they play both ends against the middle . THey want to buy below wholesale buy playing look how soft the market is and steal your car and then get above retail on what youre buying. No confusion there. I was offered 70's for a super clean 02 360 spider with 8000 and told "Listen we are only gonna make 5 grand when we sell it " but i see what they are sellin THESE cars for and its about 20 grand spread in the 90's. but thanks for the education. Used cars salesman will always be used car salespeople .. Hondas or Ferraris Sorry

 

They made 20,000 of the 360s, nothing rare about high volumes. They're declining in value by that pressure.

 

unfortunately the truth

 

I'd write a check now for $55k. Now way no how that's the right money. And I'm a Ford dealer. I wouldn't sell my 99 Modena with 8000 miles for that.

 

Welcome to free market capitalism