New 430 Help: Financial Advice Needed

Folks:

Thanks in advance for the help! Two part question:

(1) I should receive delivery of my first F-Car a 430 that the dealer "ordered" for me about 18 months ago. What that means is that they agreed to let me have one of their allocations for a coupe and were able to put the order in recently, car is in production, and car should be here by end of year. We agreed to a "market price adjustment estimate" of $20K over sticker. I was so fired up to have a new F-car I did not have fight this. My guess is that if the market was real hot they would push me and tell me that really I needed to pay more $$. The market is now pretty soft it seems.....what would you do. In general, I like the sales person and get a lot of cars there (like 5-6 in last 3 years), but dont really have any love for the dealer principal.

(2) I was planning on writing a check, paying sales tax, etc. But this puts me at pretty health stable of cars for me (5) and I own all of them. So if in a year or two I dont absolutely love this car or want to pare back, the problem is I pay taxes on the whole thing. Also, I havent really been into selling cars directly in the past and so paying cash just creates a problem where it is another $150-$200K credit to be used against future cars since I generally end up trading. Long question, but the point -- anyone ever lease these for 24 months and then purchase or not based on situation at end of lease.

Thanks
Al C

 

cpl of important things
1. the mkt is super soft, you be able to renegotiate your purchase price
2. with leasing two questions need to be asked; how many miles do you intend to drive it annually (my guess is with 5 cars you will probably put 3-5k per year which puts your cars future value at 160k-170k (using today's pricing model), and what is the residual value they'll put in the contract

your current opportunity cost of money will not be included in this equation because stocks, bonds, real estate, etc have lost value over the last 12 months (plus this is a big unknown)

the answer is:
225k-165k=60k
if the lease terms are more expensive buy the car

 

I know several dealerships you can walk in and order a 430 at sticker. I also know of a dealership that just got in an ordered car (owner not buying it) and will also sell that one at sticker. You should not pay a premium in todays market.

Congrats on the car.

 

1. You made an agreement. Honor it?

2. If it's cheaper to lease than own and you're planning to bail in a couple years ...

 

either a) renegotiate or b) dont buy it. In todays market you could save yourself a pretty penny.

 

Don't forget that by walking you'll almost end your relationship with the dealership. Depending on your area, that could be a big or small thing. Up here it would be big.

 

The market has changed. Im sure they will sell the car at sticker to you. If not, dont walk........run. The 430 replacement is comming and it will take anotherr hit when that happens. The only good thing when everyone talks about Ferrari prices drastically dropping is that in the normal car world, that is completely normal and accepted. I would try to get deferred to the 430 replacment list.

 

I agree. If the market had gone up to $100k over sticker they would have not honored their "estimate". They should re-estimate and be happy to sell you a car. (IMHO)

 

If they left the price open, as it seems, I don't see any ethical problem with you renegotiating the price and walking if it does not work out. I am sure you can also save a bundle if you are open to slightly used examples.

 

I have a different perspective. If you have bought as many cars as you say, why are you paying over MSRP in the first place?
Secondly, unless you have a legal obligation to buy the car, backing out of a car ordered 18 months ago for over MSRP makes sense under present market conditions. If the dealer can sell it for $20,000 over to someone else good for him and if not, he isn't exactly going to suffer selling it to you ar MSRP. Regarding leasing. There is no value in leasing these days period. Best