Can someone explain to me the deal of selling a new ferrari?

I think this varies from region to region.
Our Ferrari dealer doesn't do this formally, I don't believe.
However, it is considered "bad form" not to offer the car to be sold through the dealership.

On a new model, the dealers are constrained by a limited allocation of cars.
And, of course, almost no one has a used one to offer.
The used ones, assuming less than 2000 miles on it, often get full MSRP asking prices.

So, it is customary to offer the dealer to sell the car for you if, for some reason, you can't keep it after only a few months of ownership.

I think this also depends greatly on the overall desirability (and available inventory) of the model of the car.
So, selling an FF right now after 5 months of ownership is not the same thing as selling a LaFerrari or 458 Speciale.
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I had to sign a contract in which if I was to sell the car within one year of purchase I had to go to my dealer first and offer it to them, consignment, etc... Break that contract and not only there are legal problems, but consider yourself out of buying another new Ferrari at msrp.
That was my experience with the F430 in 2006. Before the F430, some people paid $100k over msrp for a 360 spyder! That reason alone is why Ferrari made the first rebuttal agreement.

 

Your dealer sold you the car out of their limited inventory pool. if you are going to flip it they want the right of first refusal for the first 12 months. I personally have no problem with it.

 

I'm glad I found this thread. I recently purchased a '05 360 and someone who found out that I did said that I'm almost there! I didn't understand. He said that if I ever wanted to buy a new Ferrari I would have had to purchase a used one first. I said that's impossible - if I walk into a dealership with a boat load of cash you mean they wouldn't sell me the new one? Please tell me what the real story is about buying new.

 

In addition to right of first refusal do dealers stipulate a maximum mileage?

 

You and several thousand other people have a boat load of cash. If you are looking to walk into a dealership and expect to plonk down a wad if bills and drive out in a brand new, in demand, limited delivery vehicle... one that many of your fellow boat load-ers have been waiting for... guess who is going to get first dibs.

Why is it that recognizing customer loyalty is rewarded, expected, even demanded of every single business in the world, but is condemned as elitism when a Ferrari dealership does the same thing?

Why 'should' someone buy a used car first? Well simply because there are so many more of them, and there is less of a line up to get one. (Depending on the car of course.) drive one for a while, build a relationship, and you might be surprised how far your local dealer will bend over backwards for you.

 

1st of all I don't have a boat-load of cash. I can't afford a new Ferrari. I just couldn't believe that there are that many people waiting for a new Ferrari to come through the front door. I thought that if you wanted a new one bad enough all you have to do is walk into a dealership and IF they had one you liked then all you had to do was plunk down the cash. What, you're telling me that a dealer is going to hold off selling one because he's waiting for someone that is loyal to walk up and buy it? And besides I'm not talking about a limited edition like a Enzo or LAF, I'm just talking about a normal Ferrari if there is such a animal!

 

When Ferrari unveils a new model. The hype surrounding that model has already been circulated for at least a year. Loyal customers at each dealeeship have already put down deposits for the new model and are already on their waiting list and have already signed a contract to purchase including the right of first refusal. Since there will always initially be a shortage of the new model. The dealership wants to make sure that no matter which of its first customers gets the car he can't flip it for a huge profit on the secondary market when the dealership had to sell it to the customer at MSRP. The 458 Speciale is a prime example. Many loyal customers have preordered the 458 Scud version. My dealership alone has already sold their next two years of 458 Scud inventory. Someone walking off the street is not going to get one of these. But he will be offered a used 430 458, Cali etc.

 

The 360 was Ferrari's all-time best seller with something like 8,000 units produced (please correct me if inaccurate). Yet the wait-list for a new one was 2-3 years, Modena coupes were selling at 70k over sticker, and as previously posted here, Spyders were 100k over sticker. I remember going to a dealer in L.A. in 2000, and basically being told that I had no shot at getting a new 360. It was the purest example of Supply vs Demand, and I wasn't surprised nor offended. If everyone wants something in limited supply, then it becomes a bidding war (hence the premium over sticker). Beyond money, there must be some way to establish priority, so what better way than customer loyalty or an established relationship?

 

Almost every Ferrari made is built to order for a customer who has put down a significant deposit. Ferrari Dealers do not have a large stock, if any stock, of new untitled cars on the lot. They are allotted X number of spots on the assembly line for the year. Most of these spots are already accounted for by those who came first with a boat-load of cash. The smart dealers show loyalty to previous customers by putting them at the top of their list, and those that come later in back of those folks. So, if you want to be on next years list, you will help yourself by buying a used model that is on their lot. Used might mean less than 2k on the odometer, or it could be the worn out Mondial they had sitting in back. Either way, you will want to build a relationship with the dealer to limit your wait time to place YOUR order, because if not, you will be waiting forever behind all those that do.

 

You have the right to refuse it first.

 

There's this tool called Google. It's really good for definitional queries.

 

Simple

If you want to sell your car, you have to offer it back to the dealer first. If he wants it, he will offer you MSRP and he takes back the vehicle. If he does, you have to give it to him. If you don't, you won't be able to buy another new Ferrari again.

If he offers less than MSRP, you can sell it anywhere for whatever price you want, even over MSRP.

It only works on new cars. It's a way to restrict speculators as Ferrari dealers must sell new cars at MSRP but in many cases, these same cars can be sold for a higher amount due to long waiting lists.

 

You're not even close. If you bought a new or used California or an FF from YOUR dealer, it might help. A used 360 won't do anything.

A boatload of cash means nothing. You can join the list of waiting people.

Dealers sell to their best customers first. Think of it like a frequent flier system. A guy who flies 100K miles a year on one airline gets an upgrade before a guy who flies the airline once a year.

If the guy who flew 100K miles a year got an upgrade after the newbee, don't you think he'd be upset?

Same for the cars. Customers with long histories get the cars first to keep them happy.

 

Good sarcasm is always appreciated.

 

Give a fish or teach to fish.

I subscribe to the tenet that there are no dumb questions. However, some questions can be easily looked up such that the person asking is more respectful of the time they request others to contribute if they do some basic homework first.

 

How does a justin beiber get a 458 Spider without a wait?

 

It's pretty common with cars that are in production the first few years. It really has nothing to do with the dealers and everything to do with the market.

For example, it wouldn't work with a new FF because there isn't the demand there like a 2 seat sports car. The longer the waiting list and the higher the price of a used car, the greater the chance it will happen.

 

I'd like to know this too...as well as condition requirements.

it sounds to me like you're really just leasing a new Ferrari, even if you pay cash.

 

Yes. There is a secret VIP allotment that dealers can tap into and avoid the entire waiting list situation. How the dealers determine who is and isn't I guess is up to their discretion.

However, many of these celeb cars are actually not purchased by the celeb directly but through an agency which may sell or lease the car to them. These agencies also have good connections. Or, the celeb may just go into the used market. Paying over MSRP is nothing if they want it.

But, there is most definitely a VIP allotment that skips over the queue. How many is a secret because I'm sure every famous person in Hollywood is probably trying to get a car that way. The same goes for sports figures. My guess is that it's pretty small.