Value of 2000 456MGTA ???? Help? | FerrariChat

Value of 2000 456MGTA ???? Help?

Discussion in 'New England' started by Loan-A-Ranger, Apr 8, 2014.

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  1. Loan-A-Ranger

    Loan-A-Ranger Rookie

    Apr 8, 2014
    3
    Hello I am new to this forum and was hoping to get some feedback here for business purpose. I am at a N/E area bank and have a valued client looking to pledge his 2000 Ferrari as collateral for a loan. I was curious where I might get a real world value on this auto? I believe the car was purchased from original owner in 2011 for $69,000 price which I am told was a very good price? Had only 3,500 original miles - and now has only 6,500 total miles. Also am informed this has the carbon fiber body? Was this car over $250k new? Any feedback would be helpful as I am certainly not familiar with these cars - I could certainly call a Ferrari dealer I suppose but wanted to reach out here for some feedback/education.

    Thanks in advance !
     
  2. Ashman

    Ashman Three Time F1 World Champ
    Owner Silver Subscribed

    Sep 5, 2002
    33,242
    MA
    Full Name:
    John
    Cavallino Magazine, a respected magazine that publishes a price guide for all Ferrari models that purports to find actual selling prices, shows the market value range for the 1998-2003 456 M GT and GTA to be from $45,000 to $70,000.

    Forza Magazine, another respected Ferrari specific magazine, just published a Market Guide in their May 2014 issue and that shows current values for the 1998-2003 456M of $50,000-$60,000.

    Others on here are sure to have additional data points for you but the best way for a banker trying to value his collateral might be to call a few dealers and ask them for a price to buy a car fitting the description of your collateral. The bid/offer spread on these cars can be fairly wide.

    BTW, Forza says that the value range in 2011 for that car was around $55,000-$75,000, so your client's price of $69,000 paid for it was consistent and within the range that Forza is reporting.
     
  3. Piper

    Piper Two Time F1 World Champ

    Jun 6, 2010
    25,415
    Northern Virginia
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    Bob
    Aluminum body, not carbon fiber. Not that there's anything wrong with that.
     
  4. M. Brandon Motorcars

    Sponsor

    Sep 4, 2007
    1,830
    Houston, TX
    Full Name:
    Michael Foertsch
    Carbon fiber hood on the 456M. Rest of the body is aluminum.
     
  5. Piper

    Piper Two Time F1 World Champ

    Jun 6, 2010
    25,415
    Northern Virginia
    Full Name:
    Bob
    I did not know that :) I'd love to have one for a year or two.
     
  6. gurslo

    gurslo Formula 3

    Feb 25, 2008
    1,524
    Connecticut
    Full Name:
    Peter
    If you decide to call a dealer, ask your client who did the service work on his car and contact that dealer. They should have the records and know the condition of the vehicle. A lot of factors can adjust the value up or down. If your concerned you could have it appraised. You'll receive great advice here, but keep in mind, no one has laid eyes on this car.
     
  7. Loan-A-Ranger

    Loan-A-Ranger Rookie

    Apr 8, 2014
    3
    Thanks for the info that is very helpful - will get more details and yes actually see the car in person to verify condition etc.... Value range seems more than adequate in relations to $ actually loaned against this vehicle.

    I may have to insist on a road test though ;-)
     
  8. Ashman

    Ashman Three Time F1 World Champ
    Owner Silver Subscribed

    Sep 5, 2002
    33,242
    MA
    Full Name:
    John
    I absolutely would recommend a thorough road test to make sure that the car actually works as intended and isn't just an inanimate non-runner with a seized engine! ;) ;)

    Just curious, what is the loan to value guideline for an asset like a Ferrari?
     
  9. Nospinzone

    Nospinzone F1 Veteran

    Jul 1, 2013
    7,785
    Weston, MA
    Full Name:
    Paul
    Things that make you go hmmmmmmm.
     

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