Ferrari Financial Services - Balloon Financing

Why not ask your sales person to make sure you get the most current and accurate info? The rates periodically change and you may not get the most recent rates by asking for people’s input.

 

The rates are usually higher then the market but you have the advantage of lower payments (maybe 4.99 vs. 2.09). The balloon amount is set by Ferrari and is dependent on the car (it will be a percent amount). You will have 59 payments and the 60 will be the balloon payment. No repayment terms to be concerned with as it is a regular financial agreement. You can repay at any time. Your sale person will tell you the current rate and %. You can use any balloon calculator online to check the monthly payment and amortization schedule.

 

Compare the costs associated with a HELOC loan on your house if you are financing. Depending on your equity/mortgage- you may be able to write off some of the interest.

430k is a hefty spec. Congrats.

 

It is a very healthy spec!

 

As far as I know these were the latest FFS rates.

1) 12-60 months with a rate of 2.74%.
2) 60-84 months for 3.49%

 

actually in the last few weeks alone the 10 yrs yield literally fluctuates a lot. Some here are in the financial business. I am sure they can attest to that observation.

 

Are those the balloon rates or just the standard financing rates?

 

FFS rates are always a bit higher than conventional banks or credit bureaus mainly because they don't report to the credit bureaus which is important to many business owners who are seeking loans for investments. They run your credit for the loan but after that it stays off the radar. Putnam leasing and even Bentley financial also keep it off the radar for this specific reason.

 

In the Uk, you get much better deals outside of Ferrari. Shop about.

 

My guess is that rate will be 4-5%.....


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Around $3k to $3.25k per month.

 

After the dealer adds their mark-up, that range is correct.

 

Your payment should be around 3500


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That was regular loan.

Your balloon loan would looks something like 60 months with a money factor is .00209 and your balloon payment will be 59%. There is also an equity discount subject to FFS approval. Requires 30% down payment of MSRP. Can get .00010 discount.

The only other way to lower it is a one pay lease option. Money factor would be .00186. However, this drop in money factor doesn't seem fair to me for this option. In my opinion, it should be a fraction of the standard money factor.

To convert money factor to interest rate, multiply money factor by 2,400.

 

The rate is 3.74% and the ballon amount of 60% for the f8 spider.

 

If your car is 430k and you put down 125k your payments will be $1,755.67. That is with the current rate of 3.74 and a 60% balloon amount. Your final balloon payment is 258k. Here is the breakdown Image Unavailable, Please Login

 

Except Ferrari financials don’t do those kind of 60% ballon.
I asked YESTERDAY a quote on a 339k 812SF from a f dealer on this forum.
With 35k down, 186k ballon payment, the cost is 3500$ a month in CA.
So 125k down means 305k financed. 1755 is impossible


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I just finished financing my F8 coupe with Ferrari using the Balloon option on Tuesday. My rate ended up being 4.98% after the dealer marked it up, which could be because I'm a first time Ferrari buyer. My FICO is 830-840 depending on which credit bureau you choose. I financed $340k and my payment is $3,450 per month. I have a friend who also used the Balloon option and my numbers fall directly in line with his. Hope this helps.

 

It is dependent on the car. I just confirmed it is 60% on the f8 spider. Call your dealer and he will confirm.

 

No- just see the post above mine. Those numbers you have seem wrong.


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Also the balloon varies on new/used.