812 GTS financed by Ferrari Financial - USA

do you mean lease?

 

Balloon is different from a lease but similar in the you are only financing a portion of the value.

 

I have a close friend who only "leases" or balloon payments his Ferrari purchases. Always buys new... He actually just did it on his new Pista Spider.... I have always purchased my cars cash but thought it was an interesting thought for the future... Residual % is obviously great on these cars and I to my understanding Ferrari Financial gives pretty good rates... Again, I have no first hand knowledge but would like to hear if anyone has experience with this as well.

 

You are correct and to date Ive paid for mine upfront as well but if the financing option were reasonable I might consider it.

 

I did it on a Lusso. Seemed a good residual and makes it worth doing in my opinion. Especially with such low interest rates they offered. Made no sense to use cash to be honest. When the 60 months is up I believe they’ll offer you a new deal if you want or just trade it!


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Also - they DO NOT report the finance/loan to ANY credit bureau. So the car is invisible on your credit file - doesn’t effect your credit at all.

It’s a no brainer


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What was the money factor?

 

It must be 3.49% with a excellent credit score or lower

 

Depends. Many who use that option do so to get the car instead of as an option. I’ve heard higher.

I’ve used them with their regular loans. For example back in 2013 they had 1% for a used Cali loan etc. I’ve had the promo rates like that.

Posts here have quoted balloon MF at 5-6%. My dealer sold one of my cars on consignment to someone with that structure and that MF.


Yes that high is no brained but they don’t report which some like/prefer/need.


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I've done it multiple times , interest rate is 5.99% (you're not getting lower) , but may be higher for some folks. Anther revenue stream for them I guess...
But they are very easy, seamless, fast, require no bs paper work, they don't show up on reports . I've always paid off early (about a year) since the interest is high in today's market.

 

I just got 4.99%


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Wow that’s cool. They only do new cars I imagine?


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Well then imo you did well considering , my scored was tier 1. Maybe now we are in a lower rate environment than when I signed last year , idk...

I did just get a 3.99% from US Bank for another car I picked up.

Cheers

 

They'll do pre-owned . I think there is a max on how old or how much can borrow , but rate may be more than new.

 

No mine’s an 18’ - I think the rate is better for newer cars, I did a deal with them on an F430 which was 5.99% a year ago. So it’s available to vehicle - I always buy through a Ferrari dealer who arrange for me, so may not work buying on the open market.

I’m not sure, just my experience.


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Are y’all talking balloon only?

I got 1% on a straight loan with promo rates twice

My guy says for me- with a history with FF and good income credit 850 for a balloon for my incoming GTS I would be likely looking at 3.99-4.5%.

FYI. He’s rarely wrong.


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Mine was ballon yeah, but also same offer for straight finance. The ballon just drops the monthly considerably.


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I got 4.49% from FF in April on my 812 balloon

 

For sure thé way to go on such depreciating assets!


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I know in Cali they don’t do balloons for some reasons


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I got 3.99 in may for 2020 812 ballon

 

So can you sell the car early if you got ballon ?do you have to pay it off first?