Private purchase of a 458 Italia
Discussion
Having previously been looking at Gallardo Superleggera's ( sorry to mention that in a Ferrari forum ) the edict from mission control is a red 458 Italia. Looking to buy mid year, after I've got over my tax bill. I've sat in one and I must say it does feel special compared to the Gallardo, ( Huracan is better ), 991.1 GT3, and not considering a McLaren at all.
The question is, why are there virtually no 458's for sale privately ? I wouldn't be put off provided it's the right car and the right person.
For reference I'm looking for Rosso, forged 20" wheels, yellow calipers and rev counter, ideally full interior carbon pack, large carbon sports seats, Nero / grey alcantara interior.
The question is, why are there virtually no 458's for sale privately ? I wouldn't be put off provided it's the right car and the right person.
For reference I'm looking for Rosso, forged 20" wheels, yellow calipers and rev counter, ideally full interior carbon pack, large carbon sports seats, Nero / grey alcantara interior.
I think you need to drive one properly before deciding to fork out.
As far as I can tell, and when I bought mine, I tried a few private buyers and it didn't end that well, these cars are still in the loved, expensive, treasured end of the market (even warranty expired cars) and a lot of sellers in that market can't be bothered with the hassle of dealing with the unwashed experience hunters. Also, a lot of sellers are moving on to something else as opposed to just liquidating and don't want to be without their toy so just do a deal with a dealer and swallow any opportunity cost for a quiet life and peace of mind. I have a 458 exactly as describe* (which took me a long time to find) and, while it is not for sale, should I decide to sell it I will either trade it or get a dealer to sell it for me.
As far as I can tell, and when I bought mine, I tried a few private buyers and it didn't end that well, these cars are still in the loved, expensive, treasured end of the market (even warranty expired cars) and a lot of sellers in that market can't be bothered with the hassle of dealing with the unwashed experience hunters. Also, a lot of sellers are moving on to something else as opposed to just liquidating and don't want to be without their toy so just do a deal with a dealer and swallow any opportunity cost for a quiet life and peace of mind. I have a 458 exactly as describe* (which took me a long time to find) and, while it is not for sale, should I decide to sell it I will either trade it or get a dealer to sell it for me.
- edit except for yellow calipers.
You will pay more from a dealer but you will also get a 2 year warranty with any car sold by an authorised Ferrari dealer.
I've recently bought a 488 and the warranty and service backup made the decision worth the small extra you pay for the peace of mind.
I've recently bought a 488 and the warranty and service backup made the decision worth the small extra you pay for the peace of mind.
Edited by MartinRS2K on Saturday 2nd February 09:57
MingtheMerciless said:
a lot of sellers in that market can't be bothered with the hassle of dealing with the unwashed experience hunters.
I absolutely understand that. I am not that person, the funds will be in place and a test drive is absolutely the last thing I do before actually paying for the car ( As was the case when I bought my Nissan ). I have had excellent customer service so far, both for a Lambo and with Graypaul Ferrari Nottingham. I have made my position 100% clear when looking and by been offered test drives which I have declined. Incidentally on most occasions I have turned up in work clothes ( I have a fabrication business ) and my daily 10 plate 350Cdi Merc. and been treated very well. The authorised Ferrari dealer aspect isn't lost on me. I'll have a £155K ish budget so should be close.
I had one on sale on PH and other sites for quite some time with absolutely no interest at all. The car was at the £140k mark and highly spec'd. Similar cars at dealers were going for £155-160k.
It's now with a dealer on SOR but still not much interest - the market is very slow at the moment. Would not say it's a buyers market as the sellers are stubborn too and won't budge much.
FWIW the Ferrari Power Warranty is pretty crap anyway.
It's now with a dealer on SOR but still not much interest - the market is very slow at the moment. Would not say it's a buyers market as the sellers are stubborn too and won't budge much.
FWIW the Ferrari Power Warranty is pretty crap anyway.
W4NTED said:
I had one on sale on PH and other sites for quite some time with absolutely no interest at all. The car was at the £140k mark and highly spec'd. Similar cars at dealers were going for £155-160k.
It's now with a dealer on SOR but still not much interest - the market is very slow at the moment. Would not say it's a buyers market as the sellers are stubborn too and won't budge much.
FWIW the Ferrari Power Warranty is pretty crap anyway.
Definitely a Buyers Market from Ferrari Dealers as I got my 488 for £11k less than it was for sale for and they lost money on the car, but wanted to move some stock before the 31st December (I presume for end of year figures). Nothing was moving in November or December, I know as I was watching PH, Autotrader and Ferrari's own website and even now most of the same cars are still there. There has been a few new additions which have sold and I think this is down to colour and specification rather than the price. The cars sticking seem to have the standard seats or weird colour combinations which is why I waited for the right car and bargained hard.It's now with a dealer on SOR but still not much interest - the market is very slow at the moment. Would not say it's a buyers market as the sellers are stubborn too and won't budge much.
FWIW the Ferrari Power Warranty is pretty crap anyway.
In my opinion things will improve in March as Spring arrives and cars start selling again.
MartinRS2K said:
W4NTED said:
I had one on sale on PH and other sites for quite some time with absolutely no interest at all. The car was at the £140k mark and highly spec'd. Similar cars at dealers were going for £155-160k.
It's now with a dealer on SOR but still not much interest - the market is very slow at the moment. Would not say it's a buyers market as the sellers are stubborn too and won't budge much.
FWIW the Ferrari Power Warranty is pretty crap anyway.
Definitely a Buyers Market from Ferrari Dealers as I got my 488 for £11k less than it was for sale for and they lost money on the car, but wanted to move some stock before the 31st December (I presume for end of year figures). Nothing was moving in November or December, I know as I was watching PH, Autotrader and Ferrari's own website and even now most of the same cars are still there. There has been a few new additions which have sold and I think this is down to colour and specification rather than the price. The cars sticking seem to have the standard seats or weird colour combinations which is why I waited for the right car and bargained hard.It's now with a dealer on SOR but still not much interest - the market is very slow at the moment. Would not say it's a buyers market as the sellers are stubborn too and won't budge much.
FWIW the Ferrari Power Warranty is pretty crap anyway.
In my opinion things will improve in March as Spring arrives and cars start selling again.
I am surprised Ferrari would take that much off the sticker price on a car. From my experience they are very good at controlling the prices of their approved used car stock and hence do not give many discounts so £11k off is a excellent result. As mentioned these cars are very colour and spec sensitive so I am sure the right ones are still selling fairly quickly.
Dealer bids for decent spec 458s (the spec the OP desires is pretty much ideal) are not that bad, certainly not so low to make private selling hugely favourable. The right spec cars will sell quickly at dealers, even now.
Private buyers often want loads of money off, private sellers often want close to dealer forecourt money, both wildly unrealistic positions, and what you end up with is neither party getting what they want and the seller ultimately realising that it's easier to sell back to the dealer.
Plus private buyers will in most cases want finance and the illusion of security by buying from a limited company that they can walk into and shout at people if things go wrong.
I'm surprised that a car up for sale for £140k isn't moving if it's "worth £155k", unless the spec isn't right. The dealer bid on my 458, which was pretty much exactly the spec the OP wants, was close to that number.
I would say however that £15k saving when you're spending £140k sound great, but in practice the risk factor is massively different. Buy the £155k car and you've got a 2 year warranty and the aforementioned dealer support/goodwill, buy the same car at £140k privately and you've got potentially a huge, ruinous bill if any of the big ticket components go wrong... suddenly that £15k saving feels like a false economy.
Private buyers often want loads of money off, private sellers often want close to dealer forecourt money, both wildly unrealistic positions, and what you end up with is neither party getting what they want and the seller ultimately realising that it's easier to sell back to the dealer.
Plus private buyers will in most cases want finance and the illusion of security by buying from a limited company that they can walk into and shout at people if things go wrong.
I'm surprised that a car up for sale for £140k isn't moving if it's "worth £155k", unless the spec isn't right. The dealer bid on my 458, which was pretty much exactly the spec the OP wants, was close to that number.
I would say however that £15k saving when you're spending £140k sound great, but in practice the risk factor is massively different. Buy the £155k car and you've got a 2 year warranty and the aforementioned dealer support/goodwill, buy the same car at £140k privately and you've got potentially a huge, ruinous bill if any of the big ticket components go wrong... suddenly that £15k saving feels like a false economy.
Durzel said:
Dealer bids for decent spec 458s (the spec the OP desires is pretty much ideal) are not that bad, certainly not so low to make private selling hugely favourable. The right spec cars will sell quickly at dealers, even now.
Private buyers often want loads of money off, private sellers often want close to dealer forecourt money, both wildly unrealistic positions, and what you end up with is neither party getting what they want and the seller ultimately realising that it's easier to sell back to the dealer.
Plus private buyers will in most cases want finance and the illusion of security by buying from a limited company that they can walk into and shout at people if things go wrong.
I'm surprised that a car up for sale for £140k isn't moving if it's "worth £155k", unless the spec isn't right. The dealer bid on my 458, which was pretty much exactly the spec the OP wants, was close to that number.
I would say however that £15k saving when you're spending £140k sound great, but in practice the risk factor is massively different. Buy the £155k car and you've got a 2 year warranty and the aforementioned dealer support/goodwill, buy the same car at £140k privately and you've got potentially a huge, ruinous bill if any of the big ticket components go wrong... suddenly that £15k saving feels like a false economy.
Completely agree with this. I usually always buy private because i think there is a certain advantage to meeting the existing owner and you are more likely to find out the history of their ownership vs talking to a dealer who will use every trick in the book to sell you the car. However when it comes to exotics then in my eyes anyway a warranty especially a manufacturer backed one is the peace of mind that I would need and is more valuable than the few k you could save buying privately.Private buyers often want loads of money off, private sellers often want close to dealer forecourt money, both wildly unrealistic positions, and what you end up with is neither party getting what they want and the seller ultimately realising that it's easier to sell back to the dealer.
Plus private buyers will in most cases want finance and the illusion of security by buying from a limited company that they can walk into and shout at people if things go wrong.
I'm surprised that a car up for sale for £140k isn't moving if it's "worth £155k", unless the spec isn't right. The dealer bid on my 458, which was pretty much exactly the spec the OP wants, was close to that number.
I would say however that £15k saving when you're spending £140k sound great, but in practice the risk factor is massively different. Buy the £155k car and you've got a 2 year warranty and the aforementioned dealer support/goodwill, buy the same car at £140k privately and you've got potentially a huge, ruinous bill if any of the big ticket components go wrong... suddenly that £15k saving feels like a false economy.
All of the comments are interesting. My original post was more 'a wondering' rather than an outright desire to buy privately / save money. I have also noticed that there appears to be only small differences in between prices of an official Ferrari dealer and an independent car dealer. The bigger names such as Redline / Amari etc. seem to be broadly the same as official. When taking into account a 2 year full warranty with Ferrari, then they actually start to look expensive.
I bought mine privately, and its possibly the best prepped and most honest car I've ever bought. The seller was just about to put it into a main dealer after having had 2 private sales fall through because the buyers couldn't get finance. I offered an easy transaction and paid a couple of grand more than the dealer was offering - and saved myself about £15k in the process.
I had the main dealer perform an inspection on the car, and between that and the fact the car is still under ferrari warranty and had over 18months of the warranty left when I bought I felt there was no real downside compared to buying from a dealer (at least not £15k worth of downside).
As a side note - the 458 feels bulletproof, with the free servicing and absolutely no faults it has cost me fuel, insurance (about £500) and £45 for an MoT in the last year - who says supercar running costs are high.
I had the main dealer perform an inspection on the car, and between that and the fact the car is still under ferrari warranty and had over 18months of the warranty left when I bought I felt there was no real downside compared to buying from a dealer (at least not £15k worth of downside).
As a side note - the 458 feels bulletproof, with the free servicing and absolutely no faults it has cost me fuel, insurance (about £500) and £45 for an MoT in the last year - who says supercar running costs are high.
Order66 said:
I bought mine privately, and its possibly the best prepped and most honest car I've ever bought. The seller was just about to put it into a main dealer after having had 2 private sales fall through because the buyers couldn't get finance. I offered an easy transaction and paid a couple of grand more than the dealer was offering - and saved myself about £15k in the process.
I had the main dealer perform an inspection on the car, and between that and the fact the car is still under ferrari warranty and had over 18months of the warranty left when I bought I felt there was no real downside compared to buying from a dealer (at least not £15k worth of downside).
As a side note - the 458 feels bulletproof, with the free servicing and absolutely no faults it has cost me fuel, insurance (about £500) and £45 for an MoT in the last year - who says supercar running costs are high.
With warranty still on the car and the remainder of the 7 year service plan then I agree that buying privately is a great idea so long as it is checked by Ferrari to ensure there are no issues.I had the main dealer perform an inspection on the car, and between that and the fact the car is still under ferrari warranty and had over 18months of the warranty left when I bought I felt there was no real downside compared to buying from a dealer (at least not £15k worth of downside).
As a side note - the 458 feels bulletproof, with the free servicing and absolutely no faults it has cost me fuel, insurance (about £500) and £45 for an MoT in the last year - who says supercar running costs are high.
It sounds like you've got a great car there
Bizarrely in the time since my last post 4 hours ago a person who I have some business dealings with, and a long time friend of a friend came to see me re. work. His daily is a 991 Porsche. Turns out he has a 458 very close to what I'm looking for. Main dealer purchased 18 months ago. Realistically priced and not on general sale. Going for a look see in the week. Nothing ventured, nothing gained and nothing to lose in looking. He's happy for me to drive it with no commitment to buy. I'll report when I've seen it.
With all the "big deal" about the Ferrari Power Warranty made on these forums would really like to hear from those who have made successful claims?
I had failed rear suspension failure and the claim was denied...also an issue with the seat electrics that was not covered. Apart from these 2 issues I never needed to claim for anything.
I personally don't see the point in paying dealer premiums as the 458s are pretty bulletproof.
I had failed rear suspension failure and the claim was denied...also an issue with the seat electrics that was not covered. Apart from these 2 issues I never needed to claim for anything.
I personally don't see the point in paying dealer premiums as the 458s are pretty bulletproof.
PrancingHorses said:
With all the "big deal" about the Ferrari Power Warranty made on these forums would really like to hear from those who have made successful claims?
I had failed rear suspension failure and the claim was denied...also an issue with the seat electrics that was not covered. Apart from these 2 issues I never needed to claim for anything.
I personally don't see the point in paying dealer premiums as the 458s are pretty bulletproof.
Is it the 2 year Ferrari Power Warranty you get when you buy from a Ferrari dealer ?I had failed rear suspension failure and the claim was denied...also an issue with the seat electrics that was not covered. Apart from these 2 issues I never needed to claim for anything.
I personally don't see the point in paying dealer premiums as the 458s are pretty bulletproof.
I presume that the Power Cube Warranty covers everything for upto 5 years?
Reading the Ferrari wording it says the same as the Manufacturers 36 month warranty. Power Normal seems to reduce the coverage from 6th year to 10th year and Power Train offers the least coverage.
Any Ferrari Used Car comes with 2 years warranty (Power Normal) unless the car is covered by the Power Cube warranty.
https://auto.ferrari.com/en_EN/owners/preowned-war...
Reading the Ferrari wording it says the same as the Manufacturers 36 month warranty. Power Normal seems to reduce the coverage from 6th year to 10th year and Power Train offers the least coverage.
Any Ferrari Used Car comes with 2 years warranty (Power Normal) unless the car is covered by the Power Cube warranty.
https://auto.ferrari.com/en_EN/owners/preowned-war...
MartinRS2K said:
I presume that the Power Cube Warranty covers everything for upto 5 years?
Reading the Ferrari wording it says the same as the Manufacturers 36 month warranty. Power Normal seems to reduce the coverage from 6th year to 10th year and Power Train offers the least coverage.
Any Ferrari Used Car comes with 2 years warranty (Power Normal) unless the car is covered by the Power Cube warranty.
https://auto.ferrari.com/en_EN/owners/preowned-war...
Pretty much although std warranty is 4 years in Europe/ UK then can be extended to 5 with full cover. I have Power normal on my FF to cover the big ticket items ie Engine/ Gearbox but accept it has limited coverReading the Ferrari wording it says the same as the Manufacturers 36 month warranty. Power Normal seems to reduce the coverage from 6th year to 10th year and Power Train offers the least coverage.
Any Ferrari Used Car comes with 2 years warranty (Power Normal) unless the car is covered by the Power Cube warranty.
https://auto.ferrari.com/en_EN/owners/preowned-war...
The exhaustman said:
Bizarrely in the time since my last post 4 hours ago a person who I have some business dealings with, and a long time friend of a friend came to see me re. work. His daily is a 991 Porsche. Turns out he has a 458 very close to what I'm looking for. Main dealer purchased 18 months ago. Realistically priced and not on general sale. Going for a look see in the week. Nothing ventured, nothing gained and nothing to lose in looking. He's happy for me to drive it with no commitment to buy. I'll report when I've seen it.
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