Ferrari Financial Services - Balloon Financing

If you are strong at a bank you can probably put down 125k and get an interest only loan for 2-3 years. This type of loan will cost you much less. All you’re doing is kicking the can down the road though. Figure you are going to loose ~ 35k per year on the car. Best , Kirk.

 

I would think spending 3 k per month vs 1,500 per month and accomplishing the same end game would be very attractive , but hey if you like paying 3k per month have at it. You would only be paying interest on the balance. If interest rates doubled you would still be paying the same or less.

 

If that floats your boat. Consensus here seems that maybe you could put down less, pay more monthly and make your money work for you.


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Agreed. That’s what this YouTuber stradman did for his veyron... he did put 400k down though


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I second that.

 

Just 400k. LOL

 

Exactly my point. You’re going to loose that 125k you put down but your 1500 per month outlay will be less than Ferrari Financial by a huge margin. And in the end of three years you can basically sell the car and pay off the balance and walk. If you decide to finance the car I do believe you can do it for less than 5 pct too at a bank if you have some horsepower there.

 

Are you taking balloon payment at $3.5k monthly? I wonder how did you get to that number? Because if you are taking regular financing P&I for $290k for 60mo adds to more towards $5275 monthly.


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Your car will depreciate about 35k per year maybe more with such a high MSRP. I’ve owned 2 new ones 458 -488 spiders and that has been my experience. Maybe yours will be different. Every time I’ve sold mine after ~ 3 years it’s lost about 100-120k in value. Best , Kirk.

 

Likely to be worth retail around 240k to 250k is my guess.

 

I am so confused here.....

 

Are you now talking about a 36 month loan? I think you really need to sit down with your dealer and go over exact numbers and work out the different scenarios with them. If you have the car On Order they would be happy to discuss everything with you. You’ve thrown out 60 month balloon, 72 and 84 month, 36 month. Again, your best best is to call your dealer and go over what works for you. Good luck.

 

Look at my figures on page 1. Your payments are around 1700-1800 with 125k down. The current FFS rate is 3.74 and the balloon is 60%. You are only paying interest on the 59 payments. It is a very easy formula to work with. Use a auto balloon calculator on the web and you can plug in your MSRP, rate of 3.74, 59 payments and balloon on 60th payment, cash down, final balloon payment (which is 60% of MSRP) and you get your monthly payment. Here is a website to use. https://www.carpaymentcalculator.net/calcs/balloon-loan-amortization.php. Please call your dealer and they will confirm everything with you. These figures are for a new F8 spider and they vary with models and new/used.

 

whoi is buying pre-owned F8 coupe at such mileage over MSRP??? the salesman must be good or the buyer clueless.

 

The F8 like every 3 year old Ferrari will be old news. I bought a 2016 488- msrp of 329k for 315 with 600 miles in December of 2016. I sold it in April of 2019 to make room for my Pista for 230k.

The F8 will be no different. Your expectation of the value of the car in 3 years is unrealistic. As others have stated, the car will cost you about 100-125k to own during that time.

If you pay 415k car will sell for sub 300k in 3 years. That’s all I know. The rest I’m confused like @IloveGT

 

I just checked Autotrader. There are a bunch of cars selling (asking) in the mid 300k range. Yours is a 400k plus spec. Higher spec cars depreciate more. Look at the 500k Pistas selling for much less than Msrp.

Take the future value into consideration when making your financial arrangements.

 

Amen


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