RIDICULOUS FERRARI DEALER POLICY

find another dealer.

 

...apparantly this is a new FNA policy, applicable to ALL dealers. Wondering if any other members have been made aware of this?

 

From their point of view I think it is a good idea. It will take care of all the guys that order cars just to flip them. A Ferrari is a sports car meant to be driven and enjoyed by it's owner... not an investment scheme where friends of dealers fill up the lists just to make a quick buck from the true enthusiasts.

 

Thats ridiculous!

 

Is it legal?

 

Sure it's legal.

Want the car, gotta sign the contract. There's nothing illegal about a contract requiring you bring the car back to the dealer if you want to get rid of it. Don't like the deal, don't buy the car. There's no discrimination involved, just careful market planning.

I had heard one year, not three.

The object is the same as when they made folks lease the F40 (I think it was the F40). They want to cut down on the speculator market. If anyone is gonna benefit from the over list price on lightly used cars, it's gonna be the dealers from now on.

Since dealers now gain or lose allocations of cars based on getting back the cars they originally sell, I think this is just good policy for them. If dealer A sells a car, but that car gets traded in at dealer B, then dealer B gets an additional car on allocation and dealer A loses one. This will help protect each dealer from others poaching into their territories.

Pretty smart, if you ask me.

DM

 

The 3 dealers in so. cal. are selling their cars at market prices. So they're asking $100k over sticker for 430 spiders for a brand new car. Since they're capturing the premium at the time of sale, I would think there is no need for the contract to sell it back to them.

 

This is actually a good idea.

This is no different than already exists, except now it will be by contract. Those buyers already in the family, know to trade their car back to their selling dealer in order to stay in the family. Some of you call this being on "the list."

FNA does not allow dealers to sell a new, on MSO Ferrari, at anything over sticker. Used Ferraris are at market.

Such a contract contract eliminates buyers whose only interest is to flip the car for a quick profit. These buyers are the ones that keep some of us out of the family, so if a contract eliminates this, I am all for it. The only ones complaining are really not true Ferrari buyers, they are speculators.

 

I would not think that these are truly "new cars", still on MSO. They have likely been titled and sold back to the dealer.

 

It seems to me that if you have clear title to the car and register and sell it in a different state (depending on state laws) to a private party, enforcement of this agreement might be difficult. You might be "personna non grata" to buy another new car.

 

all you need is a lawyer to make this contract null and void. Its like Microsoft, there licensing states that you are only buying the license not the software itself but the courts do not agree. FNA can say whatever it wants and make you sign whatever you want but the courts are the ones who hold the deck of cards, not ferrari. Way to many legal precedents to overturn this contract, sorry FNA.

 

I had heard one year, not three years. If it is three years, I don't believe any 430 will be worth more than MSRP three years from now. My 430 spider, at MSRP, is coming in Mar. 2007 and I am OK with the new rules.

 

Exactly...........and yes it is quite legal, it's been done before by other manufacturers, in more ways than one.

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I write a first right of refusal clause into some of my sales contracts on used cars that are rare and desireable because I want them back. If the buyer doesn't like it.....he can walk.

People should be so lucky.......manufacturers offering to buy their used cars back.......heh. What else can the have nots complain about eh ?

 

Agreed, nothing new except it's on paper now.

Now, if I can just find a dealer who'll guarantee they'll give me my purchase price back on a 612 in 3 years, or even 1 year, I'm game. ;-)

 

I thought so.

 

It is legal. Most condo associations have the first right of refusal in all sales. First right of refusal is an established legal principle in real estate. I doubt the court will throw it out.

 

Gee now even if I do win Lotto, I'm not buying a new Ferrari ... frig that.

Thank God I'm only interested in the old stuff!
Pete

 

And five years later, when your lawsuit is finally settled, no matter if you win or lose, you'll NEVER EVER buy a new Ferrari in the USA again.

Don't you think every Ferrari dealer will know about the lawsuit within 5 minutes of your filing it? And, unless you move into another dealer's territory, you're locked in to trying to buy again from the guy you're suing.

DM

 

Why not?

It is not like you could lose money with the new policy. The only people who will be hurt are brokers who would buy a new Ferrari with the intention of selling it.

I do not see how this harms true Ferrari lovers.

 

This has been discussed before(although it was a one year length previously) and I doubt it's enforceable, providing you don't care to get another F-car. I'll bet that you find this policy magically disappears one day when F find they're losing customers as a result. IMO this ensures that cars are mostly purchased at a market value price. Plus, the contract will only apply to cars purchased at sticker.

 

Seems to me this wouldn't make me want to own the car in it's first three years of life. Just lease the sucker.

The F50 was only done as a lease for it's first two years to do away with the speculators.

 

What I am saying is that you ignore the contract you signed, if you want to sell it the day after you buy it, so be it. This is a capitalist society. If FNA wants to file suit they are the ones who will do so, not you. The judge will throw it out and you can even seek damages, including the cost of legal representation. The reason this will work is FNA is assuming you don't know the game, if you do they have no legal recourse if you sell the second after you buy it. I can post links to the legal precedents if you would like. Its just a bluff and judging from the replys so far, it's a good one!

 

I personally like the rule. Why should Ferrari not have the right to control the market it creates? People should be thankful that FNA does not decide instead to mark up the new cars $100,000, as they have had the right to do all along, but didn't.

We've benefitted from getting new cars at $100,000 less than market for a while now - it's about time the dealers got a few benefits as well.