Supercar Finance

[Red C220]

I know we have a few owners on the forum and I wondered if any of you had a reliable contacts for Supercar Finance rather than me just Googling a random company.

I've been to have a look at something today and the dealer has given me some numbers, I just need to make sure it's the going rate.

I'm new to cars at this end of the market and looking at the numbers it seems I can buy something quite spectacular which depreciates less than the SL400 we bought as long as I can live with the fuel costs.

I don't want to go into too much detail just yet but I would like to get at least one good comparison. There's an element in mind that this appears too good to be true so I just want to go into it fully armed as it were.

Does anyone have a reliable firm they can recommend?

PM please if it's not something you want to post in public forum.

 

[developer]

It would seem you'd have done well of you'd invested in an SLS - I'm sure there will be other examples - particularly as the tree huggers are slowly consigning some cars to the league of collectors.

I've no experience of the financing though.

I find that Pistonheads forum is a good place to get a broad cross section of opinion as it's a much bigger opinion pool to dip in, and most marques are covered on there.

 

[Red C220]

I've had a look on Pistonheads John and it makes this place look entirely well balanced.

I've picked up a couple of suggestions on there but wondered if someone on here would have a personal recommendation.

It's modern and something I want to use not wrap up in cotton wool.

 

[Deleted member 113659]

Come on Alan, spill the beans my man. Help me start my Saturday night off with a bang.

 

[Red C220]

Ferrari FF

Very early enquiries though.

 

[Deleted member 113659]

Ferrari FF

Very early enquiries though.

Holy moly! Top :bannana:

Alan, did I ever tell you that you're the best, nicest, generous member here or indeed anywhere?

Ant.

 

[m2287]

https://youtu.be/hHDB5pBXyyY

 

[HB]

Pm sent Alan

 

[Red C220]

https://youtu.be/hHDB5pBXyyY

It's that video that started me off on this slippery slope.

I went to Meridian Modena today where Shmee150 (Tim Burton) bought that car. They were extremely accommodating, it was quite a pleasant experience.

So if I do end up buying one of these it will specifically be Shmee's fault!

 

[stumpy1]

Ferrari will try hard to push their own finance offering you 1st dibs on new models as an incentive. There are other options and you are wise to look around. As for whether the FF is a good car to buy - that's an entirely different thread.

 

[Red C220]

Ferrari will try hard to push their own finance offering you 1st dibs on new models as an incentive. There are other options and you are wise to look around. As for whether the FF is a good car to buy - that's an entirely different thread.

Your ears must be burning I just PM'd you as I figured you'd be better placed for a bit of advice on this front.

 

[Simon_M]

Oracle Finance.

 

[Red C220]

Oracle Finance.

That was one of the names I picked up from Pistonheads threads on the subject.

I have had previous contact with them and wasn't overly impressed but this was with a less expensive car so maybe it just wasn't worth their effort back then.

 

[jaymanek]

I don't have much to do with supercars but generally you cannot beat the main dealer quotes (post negotiation)

 

[Red C220]

I don't have much to do with supercars but generally you cannot beat the main dealer quotes (post negotiation)

Ferrari don't do PCP they only offer Lease Purchase, which seems fine as the balloon payment seems to be quite a lot less than the expected final value of the vehicle at the end of the agreement by quite a large margin.

I'm ok with that as you'll get all your deposit back (or plenty of equity for the next purchase) and potentially a bit more if the car has reasonably held it's value and with an outside long shot of even more back if it happens to increase in value. I guess that's the gamble you take on cars of this type.

I've filled in an Oracle Finance quote request so we'll see what they come back with.

I've always bought MB and recently Audi where it's all quite straightforward with a bit of CarWow or Orange wheels as you know what discount level is available.

I have absolutely no idea what the negotiating room is on a 2 year old Ferrari so this could be an interesting exercise.

I have a number at which I'm comfortable I guess we see how close we can get to that.

 

[Deleted member 113659]

Any update Alan?

 

[John]

It's that video that started me off on this slippery slope.

I watched that when it was posted and would be lying if I said it didn't get me thinking!

 

[Red C220]

Any update Alan?

Yeah I've been to see a couple and I'm currently waiting for Oracle Finance to come back with some numbers.

There aren't many of these to start with, a little over 200 registered in the UK and around 25 for sale at the moment. Of that 25 I like the spec of 2 and they are both a bit over what I'm comfortable with. To start with I wouldn't buy one of these without the pano roof so that narrows the list a lot and is mostly post 2013 cars.

There is a replacement model (GTC4Lusso) of which first deliveries will be around Jan/Feb. I'm nervous that residuals of FF's will take a big hit when the new car comes out which puts me off buying right now unless I'm offered a great deal.

Front engined V12 Ferraris with 4 seats are generally the worst performing car when it comes to retaining it's value as far as Ferrari's go, historically at least. So if you go into this assuming you're going to take a bath on it then you won't be horribly surprised if and when the time comes to move it on. Then anything else is just a pleasant bonus.

To be honest these are an oddity in Ferrari world. Purists seem to hate them, they seem to feel they completely betray the ethos of what Ferrari is, yet they have drawn in new customers like me, someone who would not have dreamed of buying a Ferrari as they are generally too hardcore and impractical to live with. In fact I've been so taken by the design idea and the new GTC4Lusso that I figured if it turns my head to the brand, how many more people will it bring along with it? So I bought some shares in Ferrari NV (GER) and so far they've only increased in value.

Then you add that every new car get a 4 year factory warranty from new and a 7 year service package from new both of which stay with the car as it's sold.

If you buy a used car from a main Ferrari dealer you get 2 years full warranty.

Consumables though are eye wateringly expensive, front and rear discs and pads for a full set up are going to be the cost of a nice family car, new.

All that said, it is insane spending this much money on a car and unless your talking about Multi Million pound 1960's Rare race cars or GTO's none of this could be considered an investment.

Sure some go up in value, but they all have running costs, sometimes, if you're lucky with your timing you might get a capital appreciation that offsets some of those running costs but even then you're still unlikely to "make money" what you might end up with is a Ferrari that's cost less to run over 2 years than a new E class. That is very appealing. Is it the case with an FF? I'm not so sure.

I still want one though, no matter how irrational the idea is. So I look daily to see if anything else has come on the market.

One spanner in the works, our house purchase has fallen through (planning issues on the barn conversion making it effectively unsaleable) so we're looking for another one now at what is probably the worst time of the year to find a home.

That means I've got nowhere to park a car like this. It also means if I bought one now I'd be the honorary president of the "super-car, ordinary house" society and it would be an entirely daft situation.

So, house first, with parking/garages then the hunt for an FF starts again. In a round about way that might have done me a favour as I've got to wait until next year now, which might give me a better idea how the values of these cars hold up now I'm actively following the market.

I like this one at the moment. http://www.meridien.co.uk/pre-owned/6601976-ferrari-ff-2013-13/

 

[Red C220]

I will add to this that I've exchanged quite a few emails with a forum member that owns and runs cars of this nature and it has been extremely helpful and informative.

It really is a different world.

 

[Deleted member 113659]

Thanks Alan,

Really sorry to hear about the house. I know you were both really set on it. However, all things happen for a reason. Here's hoping the new year brings an even better housing opportunity.

As for the FF, time will help you gauge the best deals. Patience will pay off, take care & all the best.

Please keep us posted.

Ant.