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Want to buy USED Ferrari - looking for help

Discussion in 'Ferrari Discussion (not model specific)' started by johntaylorny, May 6, 2013.

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  1. johntaylorny

    johntaylorny Rookie

    May 3, 2013
    2
    #1 johntaylorny, May 6, 2013
    Thanks for those who replied to my previous post about purchasing a Ferarri.

    I've decided to buy a USED Ferrari. It would have to be a model year no later than 2007.

    My intent will not be to have the car for myself as a keepsake or daily driver but rather my brother and I want to buy a used F to rent it for special events (weddings, birthdays, etc). Here in NY in my area there is a good market for renting of luxury cars for events.

    So I'm really not interested in the car for myself but rather I'd like the car for the "wow factor" that renters will have.

    So in short I need to buy a used F to rent to other people, can be 5-7 years old. I need something that I can finance that doesn't cost a 6 figure fortune like a new car.

    Any ideas of what model would work best and any recommendations on buying one used from a dealer that I can finance.

    Thanks so much!

    -john
     
  2. Gran Drewismo

    Gran Drewismo F1 Rookie

    Jan 24, 2005
    3,778
    Idaho
    Full Name:
    Andrew
    #2 Gran Drewismo, May 6, 2013
    Sounds like a low optioned, rosso/tan 360 Spider is in your future.
     
  3. LightGuy

    LightGuy Four Time F1 World Champ
    Silver Subscribed

    Oct 4, 2004
    45,694
    Texas
    Full Name:
    David
    #3 LightGuy, May 8, 2013
    ^

    What he said.
    Everyone wants "to be seen" in a Drop top.
    360 looks modern enough for that customer.
     
  4. Kds

    Kds F1 World Champ

    May 1, 2003
    10,994
    Canada and Brasil...
    #4 Kds, May 8, 2013
    Check for proper insurance availability and cost for this business venture before you do anything else.
     
  5. toggie

    toggie F1 World Champ
    Owner Silver Subscribed

    Nov 30, 2003
    19,036
    Virginia
    Full Name:
    Toggie (Ron)
    #5 toggie, May 8, 2013
    Consider installing a GPS tracking unit in the car.

    Might want to tell your renters that you monitor their top speeds and location with it.

    If you think this isn't a good idea, maybe watch the valet scene in Ferris Bueller a few times more. :)
    .
     
  6. vrsurgeon

    vrsurgeon F1 World Champ
    Silver Subscribed

    Dec 13, 2009
    16,544
    Charleston, SC
    Full Name:
    Curt
    #6 vrsurgeon, May 8, 2013
    I presume your business plan includes significant repair costs, double the "normal" maintenance costs as well? I hope you model usage by renters accurately and subsequent wear and tear. Personally I wouldn't touch this business model as I predict the renters are going to flog the cars and repairs will eat your margins. My personal views and opinion aside..

    I agree a salvage 360 or 430. They get the look, you get it cheap and any wear and tear and depreciation will be offset. Looks new enough and you won't loose that much when you sell it...
     

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