Ferrari Financial Services; Lease Rates/Money Factors

FFS is typically very high and a few points higher than the market rate. Sounds about right for FFS and you should ask your dealer to show you the published rate and ask if they are marking it up.

 

For the first time buyer the rates will vary between 9-10% even with decent credit and being a repeat customer they gave you under 9%. I've financed many new cars through them mainly because I don't want it to show up on my credit reports since I'm always looking for loans for real estate investments. My last new purchase which was 2 weeks ago, they gave me 8.25% and I was ecstatic! The price we pay to stay off the radar.

 

So you are saying that Ferrari Financial Services doesn't report loan amounts and payment history to the credit bureaus?

How and why not?

 

for exactly the reason why it's a benefit to a borrower. The (often large) payments don't get figured into a DTI ratio, which for many people would be a kiss of death in qualifying for other types of financing.

 

I've done three loans through them and love it for the same reason. Also they used to offer balloon financing, which they can't in NV anymore for some reason.

 

That’s always been the case and a huge benefit if you need to finance.

 

No bank has to report to the credit bureaus. It's not a requirement.

They do it to help their clients as many of them use their credit for business deals and real estate.

It's also why you pay a little more

 

Money factor is not a straight translation into APR. Of course you can factor it that way but it is not exactly a straight translation.

It's not bad.