News

WHATS THE GOING RATE ON FLIPPING 430 SPIDER THRU THE DEALER??

Discussion in '360/430' started by yellow 355, Jan 1, 2006.

  1. yellow 355

    yellow 355 Formula Junior

    Mar 25, 2005
    503
    ocean city,nj
    Full Name:
    Ben Murphy
    Wondering when flipping a 430 spider thru the dealer what is the cut for the dealer????Buying at msrp flipping at 100k over....say a car with less then 1000 miles red tan all options ect....
     
  2. To remove this ad click here.

  3. Cavallini

    Cavallini Formula 3

    Nov 2, 2003
    1,818
    I'm sure that information is very private and probably varies from dealer to dealer and owner to owner.

    Forza,


    Cavallini
     
  4. ethirtysex

    ethirtysex Karting

    Mar 14, 2005
    124
    West Linn, OR.
    Full Name:
    Kevin J. Bonnington
    Probably 20%, plus your soul will face eternal damnation because the practice is hardly ethical.
     
  5. hardtop

    hardtop F1 World Champ

    Jan 31, 2002
    11,249
    Colorado
    Full Name:
    Dave
    I haven't done it, but I don't see how participating in a free market where all participants know the score is unethical.

    Dave
     
  6. jir591

    jir591 Karting

    Aug 17, 2005
    237
    Weston, Florida

    That's why you go to a Ferrari dealership and find "used" F430's with 100 - 300 miles at a price way over sticker. What happened? Did the first owner drive it around the block and not like it? It may be unethical but the dealerships are doing it. I guess the manufacturer does not care about this practice so long as there is some mileage on the car.
     
  7. To remove this ad click here.

  8. sobe

    sobe Formula Junior

    Sep 24, 2005
    311
    LA/Miami
    Seeing Ferrari dealers flip customers 430's that bought them with no intention of keeping them seems a little sleazy especially when real customers who really want the cars to buy and keep like myself can not even get on the list . It is the that way it is though the coupe mark up is not too bad but the spider's 100K add on just seems like throwing away money .
     
  9. ethirtysex

    ethirtysex Karting

    Mar 14, 2005
    124
    West Linn, OR.
    Full Name:
    Kevin J. Bonnington
    In this sense ethics are subjective, but that doesn't change the fact that this practice is not cool. Since Ferrari doesn't allow dealers to jack up the price on new cars, these sleazy dealerships are selling off spots on the list to make a profit, rather than provide cars to enthusiasts. When they go and relist the cars for a gross amount, the market value shoots through the roof. When real enthusiasts try to buy one of these cars, they may have been through 3 or 4 owners before the price has come back down to sticker. It's just a lame way to take advantage of stupid rich people (who deserve to get screwed paying 300k for a 180k car for being ignorant) and circumvent Ferrari's rules which were designed to protect consumers. That is just my opinion, I'm not a commie. The car dealing business is just very disturbed.
     
  10. Black Brumby

    Black Brumby Karting

    Nov 25, 2005
    65
    Cayman Islands
    It was not that long ago that Ferrari had a reputation for tracking sales of new cars and owners that sold soon after purchase, with no intention of keeping the car and only with a view to making a profit, were black listed and prevented from ordering other F cars in the future. I guess this no longer applies.
     
  11. grantb

    grantb Karting

    Nov 2, 2003
    162
    Columbia SC
    Full Name:
    Danny Burnstein
    I can tell you that when I bought my 430, the idea of flipping was discussed.
    My dealer told me that it was frowned on by Ferrari, and would most likely wreck my chances of be able to order another Fcar. I never really wanted to do it, but was curious.
     
  12. To remove this ad click here.

  13. sobe

    sobe Formula Junior

    Sep 24, 2005
    311
    LA/Miami
    The dealer says Ferrari discourages it but then they turn around and tell you if you want to do it put a few hundred miles on the car and call them and they will do it for you as they put you back on the list for another one . What ever is really going on the fact remains it keeps the demand for the car high and Ferrari I am sure does not want to change a thing .
     
  14. jir591

    jir591 Karting

    Aug 17, 2005
    237
    Weston, Florida
    It would be interesting to see what percentage of Ferrari dealer's have 430's sitting in their showroom with less than 1,000 miles. I bet it's about 90%.
     
  15. sobe

    sobe Formula Junior

    Sep 24, 2005
    311
    LA/Miami
    I would say they make more a year on flipping new cars than they do on actual legit one owner new cars .
     
  16. ROGUE GTS

    ROGUE GTS Formula Junior

    May 24, 2004
    827
    Kalifornia
    LOL you need to step into the real world of business sometime. There is a limited supply of cars delivered to the US, how do you get a new one? Well you build a reputation with a dealer and eventually you are allowed to buy one. Those who want it right now pay a premium, if someone offered me $100k over what I payed for a car I would seriously consider it.

    How is this any different than what realestate developers do? They flip property all the time, and that does make it difficult for some to purchase houses, but thus is life.

    People are free and willing to spend as much of their $$$ as they want, thus is whats great about america. If that prevents you from having one don't cry here, work harder, make more $$, get on the list, etc.
     
  17. ethirtysex

    ethirtysex Karting

    Mar 14, 2005
    124
    West Linn, OR.
    Full Name:
    Kevin J. Bonnington
    I see where you're coming from, I just look at a Ferrari a lot differently than real estate. Cars make awful investments and they create a different emotional appeal than a home. I'm not complaining because I haven't tried to buy a 430, I'm just saying the practice is excessive on the dealer's part.
     
  18. ROGUE GTS

    ROGUE GTS Formula Junior

    May 24, 2004
    827
    Kalifornia
    Ahh but your generalizing all car and all homes there. Buy the right cars and they do ok, same goes for homes, there are quite a few that will make your heart beat a little quicker.
     
  19. burnout04

    burnout04 Karting

    Sep 16, 2005
    154
    Malibu/Dubai
    cars make awful investments unless like everything else, *gasp* you educate yourself as to what you are doing. My uncle is a big time car enthusiast and his policy is he never buys a car unless he can make money on it. And so far he's done pretty damn well. Granted that is not his main business, he just does the car thing for fun and he loves cars. Everyday cars make poor investments. But cars that a lot of people want, and are very rare and special, can be great investments. Ever herd of Barrett Jackson? Look how much some of those guys are making. My point exactly. If there is one thing I can't stand more than anything its ignorant statements.
     
  20. mw575

    mw575 F1 Rookie

    May 30, 2001
    2,924
    Lake Oswego,Or
    Full Name:
    Martin J Weiner,M.D.
    The answer to the original question is 50/50.
     
  21. absent

    absent F1 Veteran
    Lifetime Rossa

    Nov 2, 2003
    8,487
    illinois
    Full Name:
    mark k.
    Supply and demand rules.
    Besides,if a Ferrari Dealer would rely only on MSRP profit on his cars(very small allocations to begin with,comparing to other luxury makes)he wouldn't last very long.
     
  22. J. Salmon

    J. Salmon F1 Rookie
    Silver Subscribed Owner

    Aug 27, 2005
    4,302
    VA
    It would seem that buying a Ferrari at MSRP makes a GREAT investment.
     
  23. Buzz48317

    Buzz48317 F1 Rookie

    Dec 5, 2005
    2,803
    Shelby Twp., MI
    Full Name:
    Michael
    The bulk of the money in ANY new car dealership comes in from parts and service.
     
  24. Fly'n DutchMan

    Fly'n DutchMan Karting

    Oct 4, 2005
    248
    Agoura Hills CA
    Full Name:
    Sander Brouwers
    Correct.

    Ah.. but it takes two to tango, can't buy a car for over sticker without a Ferrari owner willing to sell one, laissez-faire is a wonderful thing isn't it?
     
  25. hardtop

    hardtop F1 World Champ

    Jan 31, 2002
    11,249
    Colorado
    Full Name:
    Dave
    Facts please?
    If you are a dealer, how are you to know which buyers are enthusiast keepers and which are flippers? Then there is the matter of who can predict the future? I kept my 430 coupe, but if I could have gotten 80-100K profit for it? Probably gone. The problem here is that Ferrari is mucking with the free market. Dealers should be able to sell them for what the market bears. That way only enthusiasts who really want them get them and prices would find their true level pretty quick. BTW, while there may be a few stupid trust fund babies, just about no one who is rich is stupid. Just a stupid comment on your part.

    Dave
     
  26. schackman

    schackman Formula Junior

    Jan 6, 2004
    314
    COLD
    Full Name:
    Schackman
    I agree...

    I was a serious buyer for a loaded F430 Coupe...until my same Illinios dealer wanted $32,000 on a Flip Car (ordered car that came in, that the owner had all intentions of flipping)

    It was a shame! I was ready to buy @ msrp...since I had been a previous customer......but when asked to pay (when the car was offered) $230,000+ for a $198,000 car.....I was miffed!

    I was told that the car would be sold at that any time any where...so thats it.

    I understand biz 100% as a pure capitalist.....but knowing the car was a flip, being offered from my dealer was a turn off that I wont be going back to any time soon...........and its a shame from an enthusiast platform...

    I know, I know.....this is the Ferrari way and Market price for flipping......but not from the dealer whenthe car is still on MSO and has not been purchased from its order'er.

    ......let them **** the dumb ass with to much money and not enough sense.

    Not being one of them, The line drawn in the sand from my dealer to offer such a price was shamefull...IMO
     

Share This Page