Buying my first Ferrari- 458 Spider

Had a nightmare experience dealing with Ferrari Financial at lease termination.
Will never work with them again.
They reported my lease monthly payments to the credit bureaus.

 

Working with FFS is a lot like borrowing money from the Mafia. Very easy to get approved and everything goes smoothly as long as you pay what they tell you and don't start asking a lot of questions.

I used them once just for fun - on my 488 GTB - and to see what it was like vs. paying cash. Never had any issues.

Ray

 

With the 5 Ferraris I purchased new through my dealer, I used Ferrari finance. It was a time in my life when I was foolish enough to think doing everything I could to ingratiate myself with the dealership was worth the higher interest Ferrari Finance collected. I wrongly assumed this extra "vig" would help me acquire other vehicles I might want. As the dealer got a piece of that action (as well as FNA) I figured it had to be worth something. FYI: it's not.
Since paying off my 458 spider early years ago I have had no interaction with the finance arm or the showroom.
Net: a seamless transaction that you have the luxury of paying higher interest for.
Best

 

That's exactly right. Buying cars and financing cars, etc. does little if anything to help you obtain special vehicles.

In my experience, it makes far more sense to buy used Ferraris that are a couple years old and have a few thousand miles on them - and pay cash - as opposed to buying new cars at the dealer and using FFS.

When it comes to buying and selling cars, Ferrari dealers are there to do themselves favors, not you.

Ray

 

In all fairness, Ferrari Financial now has some of the lowest interest rates, favorable lease terms and doesn’t ding your credit report.

 

Yeah, I had a good experience using FFS.

I still think buying a slightly used Ferrari that is close to the specs you want is a better way to go most of the time, however.

Ray