Yes, many of your posts are relating to dealership games... Have you tried to change the behavior of your dealership group -
You're correct. There are games. There are simple truth's involved in the process. The dealer system is how it works. They are in the business of maximizing their bottom line. They get the cars. If you want a new one, you need to play their games. If you don't have the stomach or the stamina or the means, or whatever (which, by the way, is very understandable), then don't play the game. Either buy on the secondary market or don't buy at all. The dealer process may be frustrating, but it rather predictable.
One other way dealers might free up allocations is when the Aperta is confirmed, asking some with a coupe allocation to swap into an Aperta. The most likely way coupe allocations will open up perhaps?
I'm getting an early one but pretty confident people will be putting theirs back on the market quickly to get the next, newest shiny ball. With 3500 units coming online, there will be plenty so hang in there and you can pick up a used one with under 1k miles. Wait a year and it will be at msrp. Have faith in the shiny ball syndrome
I’ll keep it for 6-9 months. Variety is the spice of life to me. The 812 may arrive before the pista goes. I don’t mind the overlap.
Loose 75-100 on lusso but make 75+ on pista. If guys are buying gt3rs.2 @ $100 over, it’s a no brainer on the pista.
To me driving a car for 6 months and 1k miles is not flipping (especially given the loss I’ll take on the lusso). I usually have 2-3 toys in the garage and it’s hard to put on more miles for me.
I think a bit too much is made of the 6 month, 1k miles car. Ferrari buyers seem to be too easily painted as “not really interested” or just trinket collectors. No doubt some people do that, but a 6 month car with 1k miles on it could well have had a good summer’s use with the owner not wanting to keep it through winter. No harm in that IMV.
I'm not a "flipper," but it's easy to see why this is permitted, even expected, throughout the Ferrari world. Obviously, no one can control what an owner decides to do with their property. I know the stories regarding how the factory views flipping certain cars, and while there may be some that actually do get passed by on the next special release for flipping too early, I believe the reality is that flipping serves Ferrari's interest as well. We know the practice benefits dealers....... Why is flipping frowned upon by some, is it jealousy, is it a feeling that somehow flippers have disrespected the brand? Is collecting seen as some higher purpose that should be rewarded by Ferrari by always allocating first to the owner's that will stick them in a garage, to be viewed while sitting in a lounger, glass of wine in hand, driven twice a year just to prove they are actually cars? I certainly don't have the answers, but my point is that as owner's we do what we want with the things we buy, and Ferrari is no exception. Jim
How about the taxes? One can't deduct the loss on the Lusso but the profit on the pista is taxable correct, considering both get sold the same year, correct?
Unless you flip both cars within weeks of delivery you can't accomplish that BTW Most dealers have a MSRP buy back arrangement with Pista
Has anyone noticed that the F430 the 458 Italia and the 488 GTB have ugle front bumpers? Does anyone have any idea why Ferrari can create the best looking cars in the world but falls short on their Base Models?
It wont be 3500 to the US so I wouldn't be so sure about availability and price. This is more wait and see because no one has definitive info, it is all speculation for now. I think an important factor will be the economy at that time. Some people will be stretching and need to sell and others not so much. If the cars go back tot he dealers they will help hold the prices as they tend to collude. Perhaps that's not the nicest word to use but you know what I mean.
IRS requires you to pay taxes on any profits on of automobile sales even as an individual https://ttlc.intuit.com/questions/2636454-is-the-sale-of-a-car-considered-taxable-income
Good point. If you lose money on a Lusso, you just lose money. If you profit on a Pista, you'll pay short-term capital gains, which in the US at the income level of most owners would be about 40%. So really you'll end up down regardless. And don't forget sales tax on any price differential or potentially both full MSRPs unless you do trades for both with that same dealer. And this is assuming you don't put many miles on the Pista, you keep it flawless, and you don't own it very long. The Pista is not going to be a $100K flip 6 months down the line. This is not the "last" NA all over again. In 2 years the 488 replacement will wipe the floor with the Pista in every way possible. At least the Speciale is differentiated in a positive way with the NA engine.
I do the MT reg deal so sales taxes are not an issue. I’m not sure about income tax but I never take the ‘profits’ out. I simply let the dealer keep it towards the next one.
